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GOODWILL AND OTHER ACQUIRED INTANGIBLE ASSETS | 6 Months Ended
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Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND OTHER ACQUIRED INTANGIBLE ASSETS | GOODWILL AND OTHER ACQUIRED INTANGIBLE ASSETS The following table summarizes the activity in goodwill for the periods indicated:
| Six Months Ended June 30, 2024
| MA |  | MIS |  | Consolidated
| Gross goodwill |  | Accumulated impairment charge |  | Net goodwill |  | Gross goodwill |  | Accumulated impairment charge |  | Net goodwill |  | Gross goodwill |  | Accumulated impairment charge |  | Net goodwill
Balance at beginning of year | $ | 5,681 |  |  | $ | (12) |  |  | $ | 5,669 |  |  | $ | 287 |  |  | $ | — |  |  | $ | 287 |  |  | $ | 5,968 |  |  | $ | (12) |  |  | $ | 5,956 |
Additions/ adjustments (1) | 14 |  |  | — |  |  | 14 |  |  | 2 |  |  | — |  |  | 2 |  |  | 16 |  |  | — |  |  | 16 |
Foreign currency translation adjustments | (79) |  |  | — |  |  | (79) |  |  | (2) |  |  | — |  |  | (2) |  |  | (81) |  |  | — |  |  | (81) |
Ending balance | $ | 5,616 |  |  | $ | (12) |  |  | $ | 5,604 |  |  | $ | 287 |  |  | $ | — |  |  | $ | 287 |  |  | $ | 5,903 |  |  | $ | (12) |  |  | $ | 5,891 |
| Year Ended December 31, 2023
| MA |  | MIS |  | Consolidated
| Gross goodwill |  | Accumulated impairment charge |  | Net goodwill |  | Gross goodwill |  | Accumulated impairment charge |  | Net goodwill |  | Gross goodwill |  | Accumulated impairment charge |  | Net goodwill
Balance at beginning of year | $ | 5,474 |  |  | $ | (12) |  |  | $ | 5,462 |  |  | $ | 377 |  |  | $ | — |  |  | $ | 377 |  |  | $ | 5,851 |  |  | $ | (12) |  |  | $ | 5,839 |
Additions/ adjustments (2) | 90 |  |  | — |  |  | 90 |  |  | (87) |  |  | — |  |  | (87) |  |  | 3 |  |  | — |  |  | 3 |
Foreign currency translation adjustments | 117 |  |  | — |  |  | 117 |  |  | (3) |  |  | — |  |  | (3) |  |  | 114 |  |  | — |  |  | 114 |
Ending balance | $ | 5,681 |  |  | $ | (12) |  |  | $ | 5,669 |  |  | $ | 287 |  |  | $ | — |  |  | $ | 287 |  |  | $ | 5,968 |  |  | $ | (12) |  |  | $ | 5,956 |
(1) The 2024 additions/adjustments primarily relate to certain immaterial acquisitions which were completed in the first quarter of 2024. (2) The 2023 additions/adjustments primarily relate to a reallocation of goodwill pursuant to a realignment of certain components of the Company's ESG business in the first quarter of 2023. Acquired intangible assets and related amortization consisted of:
| June 30, 2024 |  | December 31, 2023
Customer relationships | $ | 2,038 |  |  | $ | 2,065 |
Accumulated amortization | (594) |  |  | (556) |
Net customer relationships | 1,444 |  |  | 1,509 |
Software/product technology | 665 |  |  | 674 |
Accumulated amortization | (392) |  |  | (364) |
Net software/product technology | 273 |  |  | 310 |
Database | 178 |  |  | 179 |
Accumulated amortization | (90) |  |  | (82) |
Net database | 88 |  |  | 97 |
Trade names | 197 |  |  | 199 |
Accumulated amortization | (78) |  |  | (72) |
Net trade names | 119 |  |  | 127 |
Other (1) | 52 |  |  | 52 |
Accumulated amortization | (46) |  |  | (46) |
Net other | 6 |  |  | 6 |
Total acquired intangible assets, net | $ | 1,930 |  |  | $ | 2,049 |
(1) Other intangible assets primarily consist of trade secrets, covenants not to compete, and acquired ratings methodologies and models. Amortization expense relating to acquired intangible assets is as follows:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Amortization expense | $ | 48 |  |  | $ | 50 |  |  | $ | 97 |  |  | $ | 101 |

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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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