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GOODWILL AND OTHER ACQUIRED INTANGIBLE ASSETS | 12 Months Ended
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Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND OTHER ACQUIRED INTANGIBLE ASSETS | GOODWILL AND OTHER ACQUIRED INTANGIBLE ASSETS The following tables summarize the activity in goodwill:
| Year Ended December 31, 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) | 112 |  |  | — |  |  | 112 |  |  | 97 |  |  | — |  |  | 97 |  |  |  | 209 |  |  | — |  |  | 209 |
Foreign currency translation adjustments | (167) |  |  | — |  |  | (167) |  |  | (4) |  |  | — |  |  | (4) |  |  |  | (171) |  |  | — |  |  | (171) |
Ending Balance | $ | 5,626 |  |  | $ | (12) |  |  | $ | 5,614 |  |  | $ | 380 |  |  | $ | — |  |  | $ | 380 |  |  |  | $ | 6,006 |  |  | $ | (12) |  |  | $ | 5,994 |
| 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 in 2024 (most notably GCR, Numerated and Praedicat). (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 accumulated amortization consisted of:
| December 31,
| 2024 |  | 2023
Customer relationships | $ | 2,035 |  |  | $ | 2,065 |
Accumulated amortization | (631) |  |  | (556) |
Net customer relationships | 1,404 |  |  | 1,509 |
Software/product technology | 695 |  |  | 674 |
Accumulated amortization | (419) |  |  | (364) |
Net software/product technology | 276 |  |  | 310 |
Database | 166 |  |  | 179 |
Accumulated amortization | (89) |  |  | (82) |
Net database | 77 |  |  | 97 |
Trade names | 199 |  |  | 199 |
Accumulated amortization | (83) |  |  | (72) |
Net trade names | 116 |  |  | 127 |
Other (1) | 67 |  |  | 52 |
Accumulated amortization | (50) |  |  | (46) |
Net other | 17 |  |  | 6 |
Total | $ | 1,890 |  |  | $ | 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:
| Year Ended December 31,
| 2024 |  | 2023 |  | 2022
Amortization expense (1) | $ | 198 |  |  | $ | 198 |  |  | $ | 200 |
(1)Amount for the year ended December 31, 2024 excludes incremental amortization expense of $5 million associated with amortizable intangible assets which is presented within charges related to asset abandonment on the consolidated statement of operations, as more fully discussed in Note 22 to the consolidated financial statements. Estimated future annual amortization expense for intangible assets subject to amortization is as follows:
Year Ending December 31, |  |
2025 |  | $ | 202 |
2026 |  | 196 |
2027 |  | 178 |
2028 |  | 166 |
2029 |  | 133 |
Thereafter |  | 1,015 |
Total estimated future amortization |  | $ | 1,890 |

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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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