Axalta Coating Systems Ltd
For the period ended Dec 31, 2024. Filed Feb 13, 2025.
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FY2024 · Filed Feb 13, 2025
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) GOODWILL AND IDENTIFIABLE INTANGIBLE ASSETS
(4)GOODWILL AND IDENTIFIABLE INTANGIBLE ASSETS
Goodwill
The following table shows changes in the carrying amount of goodwill from December 31, 2022 to December 31, 2024 by reportable segment:
| PerformanceCoatings | MobilityCoatings | Total | |
|---|---|---|---|
| December 31, 2022 | $1,422 | $76 | $1,498 |
| Goodwill from acquisitions | 38 | — | 38 |
| Purchase accounting and other adjustments | (1) | — | (1) |
| Foreign currency translation | 54 | 2 | 56 |
| December 31, 2023 | $1,513 | $78 | $1,591 |
| Goodwill from acquisitions | 112 | — | 112 |
| Foreign currency translation | (59) | (4) | (63) |
| December 31, 2024 | $1,566 | $74 | $1,640 |
Identifiable Intangible Assets
The following tables summarize the gross carrying amounts and accumulated amortization of identifiable intangible assets by major class:
| December 31, 2024 | Gross CarryingAmount | AccumulatedAmortization | Net BookValue | Weighted averageamortization periods (years) |
|---|---|---|---|---|
| Technology | $152 | $(88) | $64 | 11.1 |
| Trademarks—indefinite-lived | 252 | — | 252 | Indefinite |
| Trademarks—definite-lived | 154 | (70) | 84 | 14.0 |
| Customer relationships | 1,280 | (531) | 749 | 19.1 |
| Total | $1,838 | $(689) | $1,149 |
| December 31, 2023 | Gross CarryingAmount | AccumulatedAmortization | Net BookValue | Weighted averageamortization periods (years) |
|---|---|---|---|---|
| Technology | $162 | $(88) | $74 | 11.2 |
| Trademarks—indefinite-lived | 264 | — | 264 | Indefinite |
| Trademarks—definite-lived | 142 | (60) | 82 | 14.5 |
| Customer relationships | 1,194 | (484) | 710 | 19.0 |
| Total | $1,762 | $(632) | $1,130 |
The estimated amortization expense related to the fair value of acquired intangible assets for each of the succeeding five years is:
| 2025 | $95 |
| 2026 | $95 |
| 2027 | $94 |
| 2028 | $80 |
| 2029 | $76 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.