Goodwill and Intangible Assets

3 Months Ended

Mar. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

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 Other		Total company





Balance as of December 31, 2024	4,469		1,496		258		58		6,281



Translation and other	38		12		6		—		56
Balance as of March 31, 2025	$	4,507	$	1,508	$	264	$	58	$	6,337

The amounts in the “Translation and other” row in the above table primarily relate to changes in foreign currency exchange rates.

As of March 31, 2025, 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)	March 31, 2025		December 31, 2024
Customer related	$	1,331	$	1,319
Patents	208		207
Other technology-based	373		371
Definite-lived tradenames	481		487
Other	47		47
Total gross carrying amount	2,440		2,431

Accumulated amortization — customer related	(963)		(935)
Accumulated amortization — patents	(208)		(207)
Accumulated amortization — other technology-based	(333)		(328)
Accumulated amortization — definite-lived tradenames	(300)		(300)
Accumulated amortization — other	(30)		(30)
Total accumulated amortization	(1,834)		(1,800)

Total finite-lived intangible assets — net	606		631

Indefinite lived intangible assets (primarily tradenames)	579		579
Total intangible assets — net	$	1,185	$	1,210

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 March 31,
(Millions)	2025		2024
Amortization expense	$	26	$	27

Expected amortization expense for acquired amortizable intangible assets recorded as of March 31, 2025 follows:


(Millions)	Remainder of 2025		2026		2027		2028		2029		2030		After 2030
Amortization expense	$	78	$	104	$	85	$	59	$	57	$	56	$	167

3M expenses the costs incurred to renew or extend the term of intangible assets.