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Goodwill and Other Identifiable Intangible Assets | 3 Months Ended
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Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Other Identifiable Intangible Assets | Goodwill and Other Identifiable Intangible Assets The Company tests indefinite-lived intangible assets and goodwill for impairment by performing either a qualitative evaluation or a quantitative test at least annually, or more frequently if an indication of impairment arises. The qualitative evaluation is an assessment of factors to determine whether it is more likely than not that the fair value of a reporting unit or asset is less than its carrying amount. The Company did not identify an indication of goodwill impairment for any of its reporting units or an indication of impairment of any of its indefinite-lived intangible assets during the quarter ended March 31, 2024. The change in the carrying amount of goodwill attributable to each reportable segment for the three months ended March 31, 2024 was as follows:
($ in millions) | Performance Coatings |  | Industrial Coatings |  | Total
January 1, 2024 | $4,994 |  |  | $1,206 |  |  | $6,200 |
Acquisitions, including purchase accounting adjustments | 3 |  |  | — |  |  | 3 |
Foreign currency impact | (47) |  |  | (16) |  |  | (63) |
March 31, 2024 | $4,950 |  |  | $1,190 |  |  | $6,140 |
As of both March 31, 2024 and December 31, 2023, accumulated goodwill impairment losses totaled $158 million. A summary of the carrying value of the Company's identifiable intangible assets is as follows:
| March 31, 2024 |  | December 31, 2023
($ in millions) | Gross Carrying Amount |  | Accumulated Amortization |  | Net |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net
Indefinite-Lived Identifiable Intangible Assets
Trademarks | $1,453 |  |  | $— |  |  | $1,453 |  |  | $1,442 |  |  | $— |  |  | $1,442 |
Definite-Lived Identifiable Intangible Assets
Acquired technology | $842 |  |  | ($683) |  |  | $159 |  |  | $845 |  |  | ($678) |  |  | $167 |
Customer-related | 1,909 |  |  | (1,255) |  |  | 654 |  |  | 1,933 |  |  | (1,259) |  |  | 674 |
Trade names | 311 |  |  | (180) |  |  | 131 |  |  | 319 |  |  | (180) |  |  | 139 |
Other | 50 |  |  | (48) |  |  | 2 |  |  | 50 |  |  | (48) |  |  | 2 |
Total Definite-Lived Intangible Assets | $3,112 |  |  | ($2,166) |  |  | $946 |  |  | $3,147 |  |  | ($2,165) |  |  | $982 |
Total Identifiable Intangible Assets | $4,565 |  |  | ($2,166) |  |  | $2,399 |  |  | $4,589 |  |  | ($2,165) |  |  | $2,424 |
The Company’s identifiable intangible assets with definite lives are being amortized over their estimated useful lives. As of March 31, 2024, estimated future amortization expense of identifiable intangible assets is as follows:
($ in millions) | Future Amortization Expense
Remaining nine months of 2024 | $109 |
2025 | $128 |
2026 | $107 |
2027 | $96 |
2028 | $83 |
2029 | $78 |
Thereafter | $345 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 350 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//350/tableOfContent + Details
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