AG真人平台AG真人试玩

Quarterly report pursuant to Section 13 or 15(d)

GOODWILL AND INTANGIBLE ASSETS AND LIABILITIES

v3.21.1
GOODWILL AND INTANGIBLE ASSETS AND LIABILITIES
 3 Months Ended
Mar. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract] 听
Goodwill and Intangible Assets And Liabilities
NOTE 7 - GOODWILL AND INTANGIBLE ASSETS AND LIABILITIES
Goodwill
The following is a summary of Goodwill by segment:
(In Millions)
March 31,
2021		 December 31,
2020
AG真人平台AG真人试玩making $ 820听 $ 1,232听
Other Businesses 174听 174听
Total goodwill $ 994听 $ 1,406听
The decrease of $412 million in the balance of Goodwill in our AG真人平台AG真人试玩making segment as of March听31, 2021, compared to December听31, 2020, is due to the change in estimated identified goodwill as a result of measurement period adjustments to the preliminary purchase price allocation for the acquisition of ArcelorMittal USA. Refer to NOTE 3 - ACQUISITIONS for further details.
Intangible Assets and Liabilities听听听听
The following is a summary of our intangible assets and liabilities:
(In Millions)
March听31, 2021
December听31, 2020
Gross Amount Accumulated Amortization Net Amount Gross Amount Accumulated Amortization Net Amount
Intangible assets1:
Customer relationships $ 77听 $ (5) $ 72听 $ 77听 $ (3) $ 74听
Developed technology 60听 (4) 56听 60听 (3) 57听
Trade names and trademarks 11听 (1) 10听 11听 (1) 10听
Mining permits 72听 (25) 47听 72听 (25) 47听
Total intangible assets $ 220听 $ (35) $ 185听 $ 220听 $ (32) $ 188听
Intangible liabilities2:
Above-market supply contracts $ (71) $ 8听 $ (63) $ (71) $ 7听 $ (64)
1 Intangible assets are classified as Other non-current assets. Amortization related to mining permits is recognized in Cost of goods sold. Amortization of all other intangible assets is recognized in Selling, general and administrative expenses.
2 Intangible liabilities are classified as Other non-current liabilities. Amortization of all intangible liabilities is recognized in Cost of goods sold.
Amortization expense related to intangible assets was $3 million and $1 million for the three months ended March听31, 2021 and 2020, respectively. Estimated future amortization expense is $7 million for the remainder of 2021 and $10 million annually for the years 2022 through 2026.
Income from amortization related to the intangible liabilities was $1 million and $2 million for the three months ended March听31, 2021 and 2020, respectively. Estimated future income from amortization is $6 million for the remainder of 2021 and $5 million annually for the years 2022 through 2026.