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Goodwill and Intangible Assets | 9 Months Ended
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Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets | NOTE 5. Goodwill and Intangible Assets Goodwill: The change in the carrying amount of goodwill by business segment was as follows:
(Millions) |  | Safety and Industrial |  | Transportation and Electronics |  | Consumer |  | Corporate and Unallocated |  | Total Company
Balance as of December 31, 2023 |  | $ | 4,542 |  | $ | 1,512 |  | $ | 270 |  | $ | 58 |  | $ | 6,382
Translation and other |  | 3 |  |  | 9 |  |  | 1 |  |  | — |  |  | 13 |
Balance as of September 30, 2024 |  | $ | 4,545 |  | $ | 1,521 |  | $ | 271 |  | $ | 58 |  | $ | 6,395
The amounts in the “Translation and other” row in the above table primarily relate to changes in foreign currency exchange rates. As of September 30, 2024, the Company's accumulated goodwill impairment loss is $0.3 billion. Acquired Intangible Assets: The carrying amount and accumulated amortization of acquired finite-lived intangible assets, in addition to the balance of non-amortizable intangible assets follow:
(Millions) |  |  | September 30, 2024 |  | December 31, 2023
Customer related |  |  | $ | 1,343 |  |  | $ | 1,337 |
Patents |  |  | 225 |  |  | 225 |
Other technology-based |  |  | 376 |  |  | 375 |
Definite-lived tradenames |  |  | 489 |  |  | 489 |
Other |  |  | 48 |  |  | 48 |
Total gross carrying amount |  |  | 2,481 |  |  | 2,474 |
Accumulated amortization — customer related |  |  | (939) |  |  | (883) |
Accumulated amortization — patents |  |  | (225) |  |  | (224) |
Accumulated amortization — other technology-based |  |  | (329) |  |  | (317) |
Accumulated amortization — definite-lived tradenames |  |  | (295) |  |  | (276) |
Accumulated amortization — other |  |  | (30) |  |  | (31) |
Total accumulated amortization |  |  | (1,818) |  |  | (1,731) |
Total finite-lived intangible assets — net |  |  | 663 |  |  | 743 |
Indefinite lived intangible assets (primarily tradenames) |  |  | 579 |  |  | 580 |
Total intangible assets — net |  |  | $ | 1,242 |  |  | $ | 1,323 |
Certain tradenames acquired by 3M are not amortized because they have been in existence for over 60 years, have a history of leading-market share positions, have been and are intended to be continuously renewed, and the associated products of which are expected to generate cash flows for 3M for an indefinite period of time. Amortization expense follows:
|  | Three months ended September 30, |  | Nine months ended September 30, |
(Millions) |  | 2024 |  | 2023 |  | 2024 |  | 2023 |  |
Amortization expense |  | $ | 26 |  |  | $ | 40 |  |  | $ | 80 |  |  | $ | 99 |  |  |
Expected amortization expense for acquired amortizable intangible assets recorded as of September 30, 2024 follows:
(Millions) |  | Remainder of 2024 |  | 2025 |  | 2026 |  | 2027 |  | 2028 |  | 2029 |  | After 2029
Amortization expense |  | $ | 27 |  |  | $ | 106 |  |  | $ | 105 |  |  | $ | 85 |  |  | $ | 59 |  |  | $ | 57 |  |  | $ | 224 |
3M expenses the costs incurred to renew or extend the term of intangible assets.

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
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