Quarterly report pursuant to Section 13 or 15(d)

GOODWILL AND INTANGIBLE ASSETS

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GOODWILL AND INTANGIBLE ASSETS
 9 Months Ended
Sep. 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 September 30, 2020 and December 31, 2019 (in millions):
U.S. Domestic
Package		 International
Package		 Supply Chain &
Freight		 Consolidated
December 31, 2019: $ 715  $ 416  $ 2,682  $ 3,813 
Acquired —  —  —  — 
Currency / Other
 —  (2) 5  3 
September 30, 2020: $ 715  $ 414  $ 2,687  $ 3,816 
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.
Goodwill Impairment
We completed our annual goodwill impairment assessment for all reporting units and indefinite-lived intangible assets as of July 1, 2020 and determined that no impairments had occurred. We continue to monitor our reporting units and indefinite-lived intangible assets for indications of triggering events that would require an update to our annual impairment evaluation between the annual assessment date and December 31, 2020. There were no triggering events identified during the third quarter.
The following is a summary of intangible assets as of September 30, 2020 and December 31, 2019 (in millions):
Gross Carrying
Amount		 Accumulated
Amortization		 Net Carrying
Value
September 30, 2020:
Capitalized software $ 4,460  $ (2,890) $ 1,570 
Licenses 156  (84) 72 
Franchise rights 158  (112) 46 
Customer relationships 720  (325) 395 
Trade name 200  —  200 
Trademarks, patents and other 23  (17) 6 
Total Intangible Assets, Net $ 5,717  $ (3,428) $ 2,289 
December 31, 2019:
Capitalized software $ 4,125  $ (2,704) $ 1,421 
Licenses 117  (64) 53 
Franchise rights 146  (109) 37 
Customer relationships 730  (282) 448 
Trade name 200  —  200 
Trademarks, patents and other 29  (21) 8 
Total Intangible Assets, Net $ 5,347  $ (3,180) $ 2,167 
As of September 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 have recorded $4 million in impairment charges for finite-lived intangible assets during 2020. There was no impairment in 2019.