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Goodwill and Intangible Assets | 12 Months Ended
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Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets | GOODWILL AND INTANGIBLE ASSETS GOODWILL The changes in the carrying value of goodwill are detailed below by segment:
| Oilfield Services & Equipment | Industrial & Energy Technology | Total
Balance at December 31, 2020, gross | $ | 19,524 |  | $ | 4,686 |  | $ | 24,210 |
Accumulated impairment at December 31, 2020 | (18,217) |  | (254) |  | (18,471) |
Balance at December 31, 2020 | 1,307 |  | 4,432 |  | 5,739 |
Currency exchange and others | 7 |  | (25) |  | (18) |
Balance at December 31, 2021 | 1,314 |  | 4,407 |  | 5,721 |
Disposition (1) | (161) |  | — |  | (161) |
Acquisitions (2) | 41 |  | 417 |  | 458 |
Currency exchange, impairment and other | — |  | (96) |  | (96) |
Total | 1,194 |  | 4,728 |  | 5,922 |
Classified as held for sale (3) | — |  | (230) |  | (230) |
Balance at December 31, 2022 | $ | 1,194 |  | $ | 4,498 |  | $ | 5,691 |
(1)The reduction in Oilfield Services & Equipment ("OFSE") goodwill relates to the sale of part of our OFSE Russia business. See "Note 19. Business Dispositions and Acquisitions" for further information. (2)See "Note 19. Business Dispositions and Acquisitions" for further information related to acquisitions occurring during 2022. (3)The reduction in Industrial & Energy Technology ("IET") goodwill relates to transferring our IET Nexus Controls business to held for sale. See "Note 20. Business 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. 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 Baker Hughes' 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 for each of our reporting units and determined that the fair value was substantially in excess of the carrying value for each reporting unit except for Subsea & Surface Pressure Systems (formerly Oilfield Equipment) resulting in an immaterial impairment of the residual amount of goodwill for this reporting unit. As previously disclosed, effective October 1, 2022, the Company reorganized to create two operating segments. In conjunction with the change in segments, the Company reevaluated its reporting units and concluded there was an immaterial change to the composition of its reporting units resulting in an immaterial goodwill allocation. In addition, we assessed our goodwill for recoverability following the reorganization, and concluded there was no impairment, which was consistent with our annual goodwill impairment test completed immediately prior to the reorganization. See "Note 15. Segment Information" for further details on the change in operating segments. Between our annual test and December 31, 2022, we did not identify any indicators that would lead to a determination that it is more likely than not the fair value of any reporting unit is less than its carrying value. 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 at December 31:
| 2022 | 2021
| Gross Carrying Amount | Accumulated Amortization | Net | Gross Carrying Amount | Accumulated Amortization | Net
Customer relationships | $ | 1,917 |  | $ | (729) |  | $ | 1,189 |  | $ | 1,922 |  | $ | (752) |  | $ | 1,170 |
Technology | 1,212 |  | (803) |  | 409 |  | 1,090 |  | (747) |  | $ | 343 |
Trade names and trademarks | 287 |  | (175) |  | 112 |  | 292 |  | (169) |  | 123 |
Capitalized software | 1,308 |  | (1,040) |  | 268 |  | 1,311 |  | (1,057) |  | 254 |
Finite-lived intangible assets | 4,725 |  | (2,747) |  | 1,978 |  | 4,615 |  | (2,725) |  | 1,890 |
Indefinite-lived intangible assets | 2,202 |  | — |  | 2,202 |  | 2,241 |  | — |  | 2,241 |
Total intangible assets | $ | 6,927 |  | $ | (2,747) |  | $ | 4,180 |  | $ | 6,856 |  | $ | (2,725) |  | $ | 4,131 |
Intangible assets are generally amortized on a straight-line basis with estimated useful lives ranging from 1 to 35 years. Amortization expense was $222 million, $253 million and $308 million for the years ended December 31, 2022, 2021 and 2020, respectively. Estimated amortization expense for each of the subsequent five fiscal years is expected to be as follows:
Year | Estimated Amortization Expense
2023 | $ | 245 |
2024 | 223 |
2025 | 182 |
2026 | 135 |
2027 | 114 |

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