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Asset Impairments (Tables)
 12 Months Ended
Dec. 31, 2019
Goodwill And Intangible Assets Disclosure [Abstract]  
Goodwill Identified, by Segment

The Company has approximately $2.8 billion of goodwill, by segment as follows (in millions):

 

 

 

Wellbore Technologies

 

 

Completion & Production Solutions

 

 

Rig Technologies

 

 

Total

 

Balance at December 31, 2017

 

$

2,956

 

 

$

2,122

 

 

$

1,149

 

 

$

6,227

 

Goodwill acquired and adjusted during period

 

 

64

 

 

 

(33

)

 

 

71

 

 

 

102

 

Currency translation adjustments

 

 

(9

)

 

 

(48

)

 

 

(8

)

 

 

(65

)

Balance at December 31, 2018

 

 

3,011

 

 

 

2,041

 

 

 

1,212

 

 

 

6,264

 

Goodwill acquired and adjusted during period

 

 

9

 

 

 

40

 

 

 

13

 

 

 

62

 

Impairment

 

 

(2,178

)

 

 

(1,019

)

 

 

(312

)

 

 

(3,509

)

Currency translation adjustments

 

 

1

 

 

 

(8

)

 

 

(3

)

 

 

(10

)

Balance at December 31, 2019 (1)

 

$

843

 

 

$

1,054

 

 

$

910

 

 

$

2,807

 

 

(1)

Accumulated goodwill impairment was $5,966 million as of December 31, 2019.
Identified Intangible Assets, by Segment

The Company has approximately $852 million of identified intangible assets, by segment as follows (in millions):

 

 

 

Wellbore Technologies

 

 

Completion & Production Solutions

 

 

Rig Technologies

 

 

Total

 

Balance at December 31, 2017

 

$

1,883

 

 

$

1,160

 

 

$

258

 

 

$

3,301

 

Additions to intangible assets

 

 

41

 

 

 

3

 

 

 

55

 

 

 

99

 

Amortization

 

 

(201

)

 

 

(111

)

 

 

(29

)

 

 

(341

)

Currency translation adjustments

 

 

12

 

 

 

(47

)

 

 

(4

)

 

 

(39

)

Balance at December 31, 2018

 

$

1,735

 

 

$

1,005

 

 

$

280

 

 

$

3,020

 

Impairment

 

 

(1,314

)

 

 

(690

)

 

 

—

 

 

 

(2,004

)

Additions to intangible assets

 

 

6

 

 

 

11

 

 

 

—

 

 

 

17

 

Amortization

 

 

(94

)

 

 

(56

)

 

 

(28

)

 

 

(178

)

Currency translation adjustments

 

 

(7

)

 

 

5

 

 

 

(1

)

 

 

(3

)

Balance at December 31, 2019

 

$

326

 

 

$

275

 

 

$

251

 

 

$

852

 

 
Identified Intangible Assets, by Major Classification

Identified intangible assets by major classification consist of the following (in millions):

 

 

 

Gross

 

 

Accumulated

Amortization

 

 

Net Book Value

 

December 31, 2018:

 

 

 

 

 

 

 

 

 

 

 

 

Customer relationships

 

$

4,078

 

 

$

(2,352

)

 

$

1,726

 

Trademarks

 

 

891

 

 

 

(341

)

 

 

550

 

Patents

 

 

661

 

 

 

(414

)

 

 

247

 

Indefinite-lived trade names

 

 

383

 

 

 

—

 

 

 

383

 

Other

 

 

491

 

 

 

(377

)

 

 

114

 

Total identified intangibles

 

$

6,504

 

 

$

(3,484

)

 

$

3,020

 

December 31, 2019:

 

 

 

 

 

 

 

 

 

 

 

 

Customer relationships

 

$

598

 

 

$

(305

)

 

$

293

 

Trademarks

 

 

190

 

 

 

(123

)

 

 

67

 

Patents

 

 

121

 

 

 

(47

)

 

 

74

 

Indefinite-lived trade names

 

 

280

 

 

 

—

 

 

 

280

 

Other

 

 

283

 

 

 

(145

)

 

 

138

 

Total identified intangibles

 

$

1,472

 

 

$

(620

)

 

$

852