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Goodwill and Other Intangible Assets
 9 Months Ended
Sep. 30, 2022
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, 2020, gross$15,656 $4,162 $2,234 $2,452 $24,504 
Accumulated impairment at December 31, 2020(14,117)(4,156)— (254)(18,527)
Balance at December 31, 20201,539 6 2,234 2,198 5,977 
Currency exchange and other10 (3)(62)37 (18)
Balance at December 31, 20211,549 3 2,172 2,235 5,959 
Currency exchange, impairment and other4 (3)(92)(41)(132)
Total1,553 — 2,080 2,194 5,827 
Classified as held for sale (1)
(161)— — (231)(392)
Balance at September 30, 2022$1,392 $— $2,080 $1,963 $5,435 
(1)The reduction in Oilfield Services ("OFS") and Digital Solutions ("DS") goodwill relates to transferring our OFS Russia business and DS Nexus Controls business to held for sale, respectively. See "Note 18. Businesses Held for Sale" for further information.
We perform our annual goodwill impairment test for each of our reporting units as of July 1 of each fiscal year, in conjunction with our annual strategic planning process. Our reporting units are the same as our four reportable segments. We also test goodwill for impairment whenever events or circumstances occur which, in our judgment, could more likely than not reduce the fair value of one or more reporting units below its carrying value. Potential impairment indicators include, but are not limited to, (i) the results of our most recent annual or interim impairment testing, 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.
During the third quarter of 2022, we completed our annual impairment test and determined that the fair value was substantially in excess of the carrying value for each reporting unit except for Oilfield Equipment resulting in an immaterial impairment of the residual amount of goodwill for this reporting unit. There can be no assurances that future sustained declines in macroeconomic or business conditions affecting our industry will not occur, which could result in goodwill impairment charges in future periods.
OTHER INTANGIBLE ASSETS
Intangible assets are comprised of the following:
September 30, 2022December 31, 2021
Gross
Carrying
Amount		Accumulated
Amortization		NetGross
Carrying
Amount		Accumulated
Amortization		Net
Customer relationships$1,789 $(701)$1,088 $1,922 $(752)$1,170 
Technology1,089 (763)326 1,090 (747)343 
Trade names and trademarks288 (174)114 292 (169)123 
Capitalized software1,249 (999)250 1,311 (1,057)254 
Finite-lived intangible assets4,415 (2,637)1,778 4,615 (2,725)1,890 
Indefinite-lived intangible assets2,202 — 2,202 2,241 — 2,241 
Total intangible assets (1)
$6,617 $(2,637)$3,980 $6,856 $(2,725)$4,131 
(1)During the three and nine months ended September 30, 2022, we recorded intangible asset impairments to customer relationships of $12 million and capitalized software of $5 million. See "Note 17. Restructuring, Impairment and Other" for further information.
Intangible assets are generally amortized on a straight-line basis with estimated useful lives ranging from 1 to 35 years. Amortization expense for the three months ended September 30, 2022 and 2021 was $54 million and $59 million, respectively, and $164 million and $193 million for the nine months ended September 30, 2022 and 2021, respectively.
Estimated amortization expense for the remainder of 2022 and each of the subsequent five fiscal years is expected to be as follows:
YearEstimated Amortization Expense
Remainder of 2022$54 
2023207 
2024194 
2025154 
2026109 
202787