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GOODWILL AND INTANGIBLE ASSETS | 3 Months Ended
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Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND INTANGIBLE ASSETS | GOODWILL AND INTANGIBLE ASSETS The following table indicates the allocation of goodwill as of March 31, 2023 and December 31, 2022 (in millions):
| U.S. Domestic Package |  | International Package |  | Supply Chain Solutions |  | Consolidated
December 31, 2022: | $ | 847 |  |  | $ | 492 |  |  | $ | 2,884 |  |  | $ | 4,223 |
Acquired | — |  |  | — |  |  | 9 |  |  | 9 |
Impairments | — |  |  | — |  |  | (8) |  |  | (8) |
Currency / Other | — |  |  | 6 |  |  | 19 |  |  | 25 |
March 31, 2023: | $ | 847 |  |  | $ | 498 |  |  | $ | 2,904 |  |  | $ | 4,249 |
During the three months ended March 31, 2023, we recorded goodwill adjustments of $9 million relating to our November 2022 acquisition of Bomi Group. Certain areas, including our estimates of tax positions for Bomi Group, remain preliminary as of March 31, 2023. Additionally, we recorded an immaterial impairment charge related to the closure of a trade management services business within Supply Chain Solutions. The remaining movements are due to the impact of changes in the value of the U.S. Dollar on the translation of non-U.S. Dollar goodwill balances. We complete our annual goodwill impairment evaluation as of July 1st on a reporting unit basis. Our 2022 annual impairment testing indicated that the fair value of goodwill associated with our Roadie reporting unit remained greater than its carrying value, although this excess was less than 10 percent. The goodwill associated with our Roadie reporting unit as of March 31, 2023 was $241 million. There were no events or changes in circumstances during the first quarter of 2023 that would indicate the carrying amount of Roadie goodwill may be impaired as of the date of this report. For each of our reporting units and our indefinite-lived trade name, we continue to monitor the combined impact of macroeconomic conditions and business performance on our estimates of fair value. The following is a summary of intangible assets as of March 31, 2023 and December 31, 2022 (in millions):
| Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Value
March 31, 2023: |  |  |  |  |
Capitalized software | $ | 5,300 |  |  | $ | (3,598) |  |  | $ | 1,702 |
Licenses | 55 |  |  | (34) |  |  | 21 |
Franchise rights | 261 |  |  | (39) |  |  | 222 |
Customer relationships | 880 |  |  | (474) |  |  | 406 |
Trade name | 126 |  |  | (10) |  |  | 116 |
Trademarks, patents and other | 177 |  |  | (37) |  |  | 140 |
Amortizable intangible assets | $ | 6,799 |  |  | $ | (4,192) |  |  | $ | 2,607 |
Indefinite-lived intangible assets | 204 |  |  | — |  |  | 204 |
Total Intangible Assets, Net | $ | 7,003 |  |  | $ | (4,192) |  |  | $ | 2,811 |
December 31, 2022: |  |  |  |  |
Capitalized software | $ | 5,186 |  |  | $ | (3,500) |  |  | $ | 1,686 |
Licenses | 55 |  |  | (30) |  |  | 25 |
Franchise rights | 226 |  |  | (37) |  |  | 189 |
Customer relationships | 872 |  |  | (453) |  |  | 419 |
Trade name | 125 |  |  | (8) |  |  | 117 |
Trademarks, patents and other | 183 |  |  | (27) |  |  | 156 |
Amortizable intangible assets | $ | 6,647 |  |  | $ | (4,055) |  |  | $ | 2,592 |
Indefinite-lived intangible assets | 204 |  |  | — |  |  | 204 |
Total Intangible Assets, Net | $ | 6,851 |  |  | $ | (4,055) |  |  | $ | 2,796 |
A trade name and licenses with carrying values of $200 and $4 million, respectively, as of March 31, 2023 are deemed to be indefinite-lived intangible assets, and therefore are not amortized. There were no events or changes in circumstances during the three months ended March 31, 2023 that would indicate the carrying amount of our indefinite-lived intangible assets may be impaired as of the date of this report. Impairment tests for finite-lived intangible assets are performed when a triggering event occurs that may indicate that the carrying value of the intangible asset may not be recoverable. There were no impairment charges for finite-lived intangible assets during the three months ended March 31, 2023 or 2022.

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