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Goodwill and Other Intangible Assets
 6 Months Ended
Jun. 30, 2018
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets
GOODWILL AND OTHER INTANGIBLE ASSETS
GOODWILL
The changes in the carrying value of goodwill are detailed below by segment:

Oilfield Services
Oilfield Equipment
Turbo-machinery & Process Solutions
Digital Solutions
Total
Balance at December 31, 2016, gross
$
2,779

$
3,852

$
1,814

$
1,989

$
10,434

Accumulated impairment at December 31, 2016
(2,633
)
(867
)
—

(254
)
(3,754
)
Balance at December 31, 2016
146

2,985

1,814

1,735

6,680

Acquisition (1)
13,052

—

—

—

13,052

Currency exchange and others
7

49

92

47

195

Balance at December 31, 2017
13,205

3,034

1,906

1,782

19,927

Purchase accounting adjustments (1)
(154
)
242

394

429

911

Currency exchange and others
(16
)
(36
)
(23
)
(5
)
(80
)
Balance at June 30, 2018
$
13,035

$
3,240

$
2,277

$
2,206

$
20,758


(1) 
Includes goodwill associated with the acquisition of Baker Hughes. The final determination of fair value of the assets and liabilities and the related goodwill associated with the acquisition of Baker Hughes was concluded in the second quarter of 2018. Of the total goodwill of $13,963 million resulting from the acquisition of Baker Hughes, $12,898 million is allocated to our Oilfield Services segment and the remainder to our other segments based on the expected benefit from the synergies of the acquisition.
In addition to our annual impairment testing on July 1 each year, we also test goodwill for impairment between annual impairment testing dates whenever events or circumstances occur that, in our judgment, could more likely than not reduce the fair value of one or more reporting units below its carrying amount. In assessing the possibility that a reporting unit's fair value has been reduced below its carrying amount due to the occurrence of events or circumstances between annual impairment testing dates, we consider all available evidence, including (but not limited to) (i) the results of our impairment testing at the prior annual impairment testing date (in particular, the magnitude of the excess of fair value over carrying value observed), (ii) downward revisions to internal forecasts (and the magnitude thereof), if any, and (iii) declines in our market capitalization below our book value (and the magnitude and duration of those declines), if any.
Since the merger with Baker Hughes, our Oilfield Equipment (OFE) reporting unit has had consecutive quarters of operating losses, which prompted the Company to evaluate whether circumstances had changed that would more likely than not reduce the fair value of the reporting unit below its carrying amount. While conducting this evaluation, the Company considered macroeconomic and industry conditions, overall financial performance of the reporting unit and preliminary long-term forecasts, among other factors, all of which require considerable judgment. After considering the totality of the events and circumstances, the Company concluded that an interim impairment test was not required. The Company will perform its annual goodwill impairment test during the third quarter of 2018 and there can be no assurance that the estimates and assumptions made for purposes of this qualitative evaluation will prove to be an accurate prediction of future results. Factors that could impact the final determination of fair value in connection with the completion of the annual goodwill impairment process include a sustained decline in market capitalization, changes in the estimated fair values of OFE’s assets and liabilities, changes in projected future earnings and net cash flows, changes in market related multiples, and changes in valuation related assumptions such as discount rates and perpetual growth rates.
As of June 30, 2018, we believe that the goodwill is recoverable for all four reporting units, however, there can be no assurances that the goodwill will not be impaired in future periods.
OTHER INTANGIBLE ASSETS
Intangible assets are comprised of the following:
 
June 30, 2018
December 31, 2017
 
Gross
Carrying
Amount
Accumulated
Amortization
Net
Gross
Carrying
Amount
Accumulated
Amortization
Net
Technology
$
1,102

$
(496
)
$
606

$
1,177

$
(440
)
$
737

Customer relationships
3,169

(899
)
2,270

3,202

(819
)
2,383

Capitalized software
1,114

(762
)
352

1,130

(697
)
433

Trade names and trademarks
726

(223
)
503

757

(159
)
598

Other
14

(1
)
13

10

—

10

Finite-lived intangible assets
6,125

(2,381
)
3,744

6,276

(2,115
)
4,161

Indefinite-lived intangible assets (1)
2,229

—

2,229

2,197

—

2,197

Total intangible assets
$
8,354

$
(2,381
)
$
5,973

$
8,473

$
(2,115
)
$
6,358


(1) 
Indefinite-lived intangible assets are principally comprised of the Baker Hughes trade name.
Intangible assets are generally amortized on a straight-line basis with estimated useful lives ranging from 1 to 30 years. Amortization expense for the three months ended June 30, 2018 and 2017 was $101 million and $86 million, respectively, and $240 million and $149 million, respectively, for the six months ended June 30, 2018 and 2017. During the six months ended June 30, 2018, we incurred additional amortization expense of $68 million due to the acquisition of Baker Hughes. In addition, we incurred $32 million and $69 million of accelerated amortization during the three and six months ended June 30, 2018 related to trade names and technology that we ceased to use during the second quarter of 2018 as a result of the combination of Baker Hughes and GE O&G.
Estimated amortization expense for the remainder of 2018 and each of the subsequent five fiscal years is expected to be as follows:
Year
Estimated Amortization Expense
Remainder of 2018
$
185

2019
367

2020
331

2021
283

2022
247

2023
226