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Goodwill and Intangible Assets, Net

9 Months Ended

Sep. 30, 2023

10. Goodwill and Intangible Assets, Net

Goodwill consists of the following:


	September 30, 2023						December 31, 2022
	Gross				Net		Gross				Net
	Carrying		Accumulated		Carrying		Carrying		Accumulated		Carrying
	Amount		Impairment		Value		Amount		Impairment		Value

	(in millions)
Automotive	$	337	$	(87)	$	250	$	337	$	(87)	$	250
Food Packaging		6		—		6		6		—		6
Home Fashion		22		(3)		19		22		(3)		19
Pharma		13		—		13		13		—		13
	$	378	$	(90)	$	288	$	378	$	(90)	$	288

Intangible assets, net consists of the following:


	September 30, 2023						December 31, 2022
	Gross				Net		Gross				Net
	Carrying		Accumulated		Carrying		Carrying		Accumulated		Carrying
	Amount		Amortization		Value		Amount		Amortization		Value

	(in millions)
Definite-lived intangible assets:
Customer relationships	$	392	$	(224)	$	168	$	393	$	(212)	$	181
Developed technology		254		(83)		171		254		(62)		192
Other		164		(99)		65		167		(90)		77
	$	810	$	(406)	$	404	$	814	$	(364)	$	450

Indefinite-lived intangible assets					$	83					$	83
Intangible assets, net					$	487					$	533

Amortization expense associated with definite-lived intangible assets was $15 million and $16 million for the three months ended September 30, 2023 and 2022, respectively, and $44 million and $45 million for the nine months ended September 30, 2023 and 2022, respectively.

We utilize the straight-line method of amortization, recognized over the estimated useful lives of the assets.