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Goodwill and Intangible Assets

6 Months Ended

Jul. 03, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLE ASSETS

Goodwill. The changes in the carrying amount of goodwill by reporting unit were as follows:


	Aerospace		Marine Systems		Combat Systems		Technologies		Total Goodwill
December 31, 2021 (a)	$	3,039	$	297	$	2,827	$	13,935	$	20,098

Other (b)	(68)		—		(20)		(8)		(96)
July 3, 2022 (a)	$	2,971	$	297	$	2,807	$	13,927	$	20,002

(a)Goodwill in the Technologies reporting unit was net of $1.8 billion of accumulated impairment losses.

(b)Consisted primarily of adjustments for foreign currency translation.

Intangible Assets. Intangible assets consisted of the following:


	Gross Carrying Amount (a)		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount (a)		Accumulated Amortization		Net Carrying Amount
	July 3, 2022						December 31, 2021
Contract and program intangible assets (b)	$	3,235	$	(1,634)	$	1,601	$	3,239	$	(1,547)	$	1,692
Trade names and trademarks	484		(237)		247		501		(238)		263
Technology and software	69		(51)		18		70		(48)		22
Other intangible assets	64		(63)		1		64		(63)		1
Total intangible assets	$	3,852	$	(1,985)	$	1,867	$	3,874	$	(1,896)	$	1,978

(a)Changes in gross carrying amounts consisted primarily of adjustments for foreign currency translation.

(b)Consisted of acquired backlog and probable follow-on work and associated customer relationships.

Amortization expense is included in operating costs and expenses in the Consolidated Statement of Earnings. Amortization expense for intangible assets was $49 and $99 for the three- and six-month periods ended July 3, 2022, and $56 and $111 for the three- and six-month periods ended July 4, 2021, respectively.