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GOODWILL AND OTHER INTANGIBLES | 6 Months Ended
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Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND OTHER INTANGIBLES | GOODWILL AND OTHER INTANGIBLES During the fourth quarter of each year, the Company assesses its goodwill and indefinite-lived intangible assets assigned to each of its reporting units. In addition, the Company may test goodwill in between annual test dates if an event occurs or circumstances change that could more-likely-than-not reduce the fair value of a reporting unit below its carrying value. No events or circumstances were noted in the first six months of 2022 requiring additional assessment or testing. Future changes in the judgments, assumptions and estimates from those used in acquisition-related valuations and goodwill impairment testing, including discount rates or future operating results and related cash flow projections, could result in significantly different estimates of the fair values in the future. An increase in discount rates, a reduction in projected cash flows or a combination of the two could lead to a reduction in the estimated fair values, which may result in impairment charges that could materially affect the Company’s financial statements in any given year. A summary of the changes in the carrying amount of goodwill are as follows:
(in millions) | Air Management |  | e-Propulsion & Drivetrain |  | Aftermarket |  | Fuel Systems |  | Total
Gross goodwill balance, December 31, 2021 | $ | 2,124 |  |  | $ | 1,232 |  |  | $ | 380 |  |  | $ | 45 |  |  | $ | 3,781 |
Accumulated impairment losses, December 31, 2021 | (502) |  |  | — |  |  | — |  |  | — |  |  | (502) |
Net goodwill balance, December 31, 2021* | $ | 1,622 |  |  | $ | 1,232 |  |  | $ | 380 |  |  | $ | 45 |  |  | $ | 3,279 |
Goodwill during the period: |  |  |  |  |  |  |  |  |
Acquisition | — |  |  | 132 |  |  | — |  |  | — |  |  | 132 |
Other, primarily translation adjustment | (82) |  |  | (42) |  |  | (2) |  |  | (1) |  |  | (127) |
Ending balance, June 30, 2022 | $ | 1,540 |  |  | $ | 1,322 |  |  | $ | 378 |  |  | $ | 44 |  |  | $ | 3,284 |
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* | The December 31, 2021 balances have been recast for inter-segment transitions of certain businesses that were completed during the three months ended June 30, 2022. Refer to Note 22, “Reporting Segments And Related Information” for more information.
The Company’s other intangible assets, primarily from acquisitions, consist of the following:
|  |  | June 30, 2022 |  | December 31, 2021
(in millions) | Estimated useful lives (years) |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount
Amortized intangible assets: |  |  |  |  |  |  |  |  |  |  |  |  |
Patented and unpatented technology | 5 - 15 |  | $ | 457 |  |  | $ | 120 |  |  | $ | 337 |  |  | $ | 443 |  |  | $ | 105 |  |  | $ | 338 |
Customer relationships | 7 - 15 |  | 885 |  |  | 319 |  |  | 566 |  |  | 877 |  |  | 310 |  |  | 567 |
Miscellaneous | 2 - 13 |  | 9 |  |  | 6 |  |  | 3 |  |  | 14 |  |  | 7 |  |  | 7 |
Total amortized intangible assets |  |  | 1,351 |  |  | 445 |  |  | 906 |  |  | 1,334 |  |  | 422 |  |  | 912 |
Unamortized trade names |  |  | 177 |  |  | — |  |  | 177 |  |  | 179 |  |  | — |  |  | 179 |
Total other intangible assets |  |  | $ | 1,528 |  |  | $ | 445 |  |  | $ | 1,083 |  |  | $ | 1,513 |  |  | $ | 422 |  |  | $ | 1,091 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI https://asc.fasb.org/topic&trid=2144416 + Details
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