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Goodwill and Intangible Assets | 12 Months Ended
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Dec. 31, 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 and Other |  | Total Company
Balance as of December 31, 2022 |  | $ | 4,509 |  | $ | 1,501 |  | $ | 265 |  | $ | 62 |  | $ | 6,337
Divestiture activity |  | — |  | — |  | — |  | (4) |  | (4)
Translation and other |  | 33 |  | 11 |  | 5 |  | — |  | 49
Balance as of December 31, 2023 |  | 4,542 |  | 1,512 |  | 270 |  | 58 |  | 6,382
Translation and other |  | (73) |  |  | (16) |  |  | (12) |  |  | — |  |  | (101) |
Balance as of December 31, 2024 |  | $ | 4,469 |  | $ | 1,496 |  | $ | 258 |  | $ | 58 |  | $ | 6,281
The amounts in the “Translation and other” row in the above table primarily relate to changes in foreign currency exchange rates. As of December 31, 2024, the Company's accumulated goodwill impairment loss is $0.3 billion. The Company completed its annual goodwill impairment test in the fourth quarter of 2024 for all reporting units and determined that no impairment existed. As discussed in Note 18, in December 2022, as a result of 3M's commitment to a plan to exit per- and polyfluoroalkyl substance (PFAS) manufacturing, 3M recorded a goodwill impairment charge of $0.3 billion related to the Advanced Materials reporting unit (within the Transportation and Electronics business) resulting in no remaining goodwill for that reporting unit. 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:
|  |  | December 31,
| (Millions) |  | 2024 |  | 2023
| Customer related (original lives largely 11 to 19 years) |  | $ | 1,319 |  |  | $ | 1,337 |
| Patents (original lives largely 9 to 13 years) |  | 207 |  |  | 225 |
| Other technology-based (original lives largely 6 to 20 years) |  | 371 |  |  | 375 |
| Definite-lived tradenames (original lives largely 6 to 20 years) |  | 487 |  |  | 489 |
| Other (original lives largely 10 years) |  | 47 |  |  | 48 |
| Total gross carrying amount |  | 2,431 |  |  | 2,474 |
| Accumulated amortization — customer related |  | (935) |  |  | (883) |
| Accumulated amortization — patents |  | (207) |  |  | (224) |
| Accumulated amortization — other technology-based |  | (328) |  |  | (317) |
| Accumulated amortization — definite-lived tradenames |  | (300) |  |  | (276) |
| Accumulated amortization — other |  | (30) |  |  | (31) |
| Total accumulated amortization |  | (1,800) |  |  | (1,731) |
| Total finite-lived intangible assets — net |  | 631 |  |  | 743 |
| Indefinite lived intangible assets (primarily tradenames) |  | 579 |  |  | 580 |
| Total intangible assets — net |  | $ | 1,210 |  |  | $ | 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. n December 2022, as a result of 3M's commitment to a plan to exit per- and polyfluoroalkyl substance (PFAS) manufacturing, 3M recorded a charge in the fourth quarter of 2022 related to impairment of long-lived assets and an immaterial charge related to impairment of indefinite-lived assets. Amortization expense follows:
|  |  |  |  |  | Year ended December 31,
(Millions) |  |  |  |  |  | 2024 |  | 2023 |  | 2022
Amortization expense |  |  |  |  |  | $ | 108 |  |  | $ | 127 |  |  | $ | 125 |
Expected amortization expense for acquired amortizable intangible assets recorded as of December 31, 2024 follows:
(Millions) |  |  |  | 2025 |  | 2026 |  | 2027 |  | 2028 |  | 2029 |  | After 2029
Amortization expense |  |  |  | $ | 104 |  |  | $ | 103 |  |  | $ | 85 |  |  | $ | 59 |  |  | $ | 57 |  |  | $ | 223 |
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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