Annual report pursuant to Section 13 and 15(d)

GOODWILL AND OTHER INTANGIBLE ASSETS

v3.20.4
GOODWILL AND OTHER INTANGIBLE ASSETS
 12 Months Ended
Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND OTHER INTANGIBLE ASSETS
NOTE 9. GOODWILL AND OTHER INTANGIBLE ASSETS
The following table summarizes the changes in the carrying amount of goodwill for the years ended December 31, 2020 and 2019:
In millions Components New Power Distribution Power Systems Engine Total
Balance at December 31, 2018 $ 935  $ 96  $ 79  $ 10  $ 6  $ 1,126 
Acquisitions —  161 
(1)
 —  —  —  161 
Translation and other (1) —  —  —  —  (1)
Balance at December 31, 2019 934  257  79  10  6  1,286 
Translation and other 7  —  —  —  —  7 
Balance at December 31, 2020 $ 941  $ 257  $ 79  $ 10  $ 6  $ 1,293 
(1)See Note 20, "ACQUISITIONS," for additional information on acquisition goodwill.
Intangible assets that have finite useful lives are amortized over their estimated useful lives. The following table summarizes our other intangible assets with finite useful lives that are subject to amortization:
  December 31,
In millions 2020 2019
Software $ 661  $ 708 
Less: Accumulated amortization (372) (425)
Software, net 289  283 
Trademarks, patents, customer relationships and other 959  956 
Less: Accumulated amortization (285) (236)
Trademarks, patents, customer relationships and other, net 674  720 
Total other intangible assets, net $ 963  $ 1,003 
Amortization expense for software and other intangibles totaled $165 million, $175 million and $153 million for the years ended December 31, 2020, 2019 and 2018, respectively. The projected amortization expense of our intangible assets, assuming no further acquisitions or dispositions, is as follows:
In millions 2021 2022 2023 2024 2025
Projected amortization expense $ 141  $ 126  $ 111  $ 93  $ 65