GOODWILL AND OTHER INTANGIBLE ASSETS

6 Months Ended

Jun. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

The Company tests goodwill and indefinite-lived intangible assets for impairment during the fourth quarter of each year, or more frequently should circumstances change or events occur that would more likely than not reduce the fair value of a reporting unit below its carrying value.

No testing was deemed necessary in the first six months of 2023. The changes in the net carrying value of goodwill by segment are as follows (in millions):


	Composites		Insulation		Roofing		Total
Gross carrying amount at December 31, 2022	$	425	$	1,499	$	394	$	2,318




Foreign currency translation	1		7		1		9
Gross carrying amount at June 30, 2023	426		1,506		395		2,327

Accumulated impairment losses at December 31, 2022	—		(935)		—		(935)
Foreign currency translation	—		(5)		—		(5)
Accumulated impairment losses at June 30, 2023	—		(940)		—		(940)

Balance, net of impairment, at June 30, 2023	$	426	$	566	$	395	$	1,387

Other Intangible Assets

The Company amortizes the cost of other intangible assets over their estimated useful lives which, individually, range up to 45 years. The Company’s future cash flows are not materially impacted by its ability to extend or renew agreements related to its amortizable intangible assets.

Other intangible assets consist of the following (in millions):


	June 30, 2023						December 31, 2022
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Indefinite-lived trademarks and trade names	$	991	$	—	$	991	$	989	$	—	$	989
Amortizable intangible assets
Customer relationships	644		(275)		369		638		(243)		395
Technology	331		(198)		133		330		(187)		143
Trademarks	12		(1)		11		12		—		12
Other (a)	63		(2)		61		66		(3)		63
Total other intangible assets	$	2,041	$	(476)	$	1,565	$	2,035	$	(433)	$	1,602

(a)Other primarily includes emissions.

There are three indefinite-lived intangible assets that are at an increased risk of impairment. These intangible assets were partially impaired in the fourth quarter of 2022. If assumptions or estimates with respect to the Company’s future performance vary from what is expected, including those assumptions relating to interest rates, forecasted revenue, and economic and geopolitical uncertainty in Europe, future impairment analyses could result in a decline in fair value that may trigger a future impairment charge.

The following table presents the carrying values of these assets as of June 30, 2023:


Trade names and trademarks	June 30, 2023
European building and technical insulation trade name	$	89
Global cellular glass insulation trademark	$	80
Components branded roofing trademark	$	42

Amortization expense for intangible assets for the three and six months ended June 30, 2023 was $24 million and $42 million, respectively. Amortization expense for intangible assets for the three and six months ended June 30, 2022 was $12 million and $23 million, respectively. Amortization expense for intangible assets is estimated to be $55 million for the remainder of 2023.

The estimated amortization expense for intangible assets for the next five fiscal years ended December 31 is as follows (in millions):


Period	Amortization
2024	$	65
2025	$	58
2026	$	43
2027	$	35
2028	$	34