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Intangible Assets

12 Months Ended

Dec. 31, 2021

NOTE 3 – Intangible Assets

Goodwill

The original carrying value of goodwill and accumulated impairment charges by reportable business segment at December 31, 2021, was as follows:


	North		South		Asia-
(in millions)	America		America		Pacific		EMEA		Total
Goodwill before impairment charges	$	622	$	50	$	316	$	69	$	1,057
Accumulated impairment charges		(1)		(33)		(121)		—		(155)
Balance at January 1, 2021		621		17		195		69		902
Acquisitions		2		—		6		9		17
Currency translation		—		(2)		1		(4)		(5)
Balance at December 31, 2021	$	623	$	15	$	202	$	74	$	914

Based on the results of our impairment assessments, we concluded that as of July 1, 2021, there were no impairments to goodwill.

Other Intangible Assets

The following tables summarizes Ingredion’s other intangible assets as of December 31, 2021 and 2020:


	2021
(in millions)	Gross		Accumulated Amortization		Net		Weighted Average Useful Life (years)
Trademarks/tradenames (indefinite-lived)	$	143	$	—	$	143	—
Patents		33		(4)		29	12
Customer relationships		365		(134)		231	19
Technology		103		(101)		2	9
Other		43		(14)		29	15
Total other intangible assets	$	687	$	(253)	$	434	17

	2020
(in millions)	Gross		Accumulated Amortization		Net		Weighted Average Useful Life (years)
Trademarks/tradenames (indefinite-lived)	$	143	$	—	$	143	—
Patents		33		(2)		31	12
Customer relationships		356		(115)		241	20
Technology		103		(101)		2	9
Other		38		(11)		27	19
Total other intangible assets	$	673	$	(229)	$	444	17

Amortization expense related to intangible assets was $27 million, $30 million and $29 million for 2021, 2020 and 2019, respectively. Based on the results of our impairment assessments, we concluded that as of July 1, 2021, there were no impairments to our indefinite-lived other intangible assets. Based on acquisitions completed through 2021, intangible asset amortization expense for the next five years is shown below:


(in millions)
Year	Amortization Expense
2022	$	27
2023		26
2024		26
2025		26
2026		25