GOODWILL AND INTANGIBLE ASSETS
|6 Months Ended|
Jun. 30, 2020
|Goodwill and Intangible Assets Disclosure [Abstract]|
|GOODWILL AND INTANGIBLE ASSETS||GOODWILL AND INTANGIBLE ASSETS
The following table indicates the allocation of goodwill by reportable segment as of June 30, 2020 and December 31, 2019 (in millions):
The change in goodwill for both the International Package and Supply Chain & Freight segments was primarily due to the impact of changes in the value of the U.S. Dollar on the translation of non-U.S. Dollar goodwill balances.
The following is a summary of intangible assets as of June 30, 2020 and December 31, 2019 (in millions):
As of June 30, 2020, we had a trade name with a carrying value of $200 million and licenses with a carrying value of $4 million, which are deemed to be indefinite-lived intangible assets and are included in the table above.
Impairment tests for finite-lived intangible assets are performed when a triggering event occurs that may indicate that the carrying value of the intangible asset may not be recoverable. We recorded a $4 million impairment charge for finite-lived intangible assets in the second quarter. There was no impairment in 2019.
The entire disclosure for goodwill and intangible assets.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef