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Goodwill and Intangible Assets | 6 Months Ended
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Jun. 30, 2021
Goodwill and Intangible Assets |
Goodwill and Intangible Assets | Note 6 — Goodwill and Intangible Assets ​ The total amount of goodwill reported was $23.5 billion at June 30, 2021 and $23.7 billion at December 31, 2020. Foreign currency translation adjustments decreased goodwill by approximately $259 million in the first six months of 2021. The amount of goodwill related to reportable segments at June 30, 2021 was $2.9 billion for the Established Pharmaceutical Products segment, $286 million for the Nutritional Products segment, $3.8 billion for the Diagnostic Products segment, and $16.4 billion for the Medical Devices segment. There was no reduction of goodwill relating to impairments in the first six months of 2021. ​ Indefinite-lived intangible assets, which relate to in-process R&D (IPR&D) acquired in a business combination, were approximately $947 million as of June 30, 2021 and $1.2 billion at December 31, 2020. The decrease is due to IPR&D assets primarily related to the Medical Devices segment that became amortizable in the second quarter of 2021. ​ The gross amount of amortizable intangible assets, primarily product rights and technology was $27.8 billion as of June 30, 2021 and December 31, 2020, and accumulated amortization was $15.1 billion as of June 30, 2021 and $14.2 billion as of December 31, 2020. Foreign currency translation adjustments decreased intangible assets by $83 million in the first six months of 2021. In the second quarter of 2021, an asset impairment related to the Established Pharmaceutical Products segment decreased intangible assets by $11 million. The impairment was recorded in the Cost of products sold, excluding amortization of intangible assets line of Abbott’s Condensed Consolidated Statement of Earnings. Abbott’s estimated annual amortization expense for intangible assets is approximately $2.0 billion in 2021 and 2022, and $1.9 billion in 2023, 2024, and 2025.

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