DANA INC
For the period ended Jun 30, 2024. Filed Jul 31, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2024 · Filed Jul 31, 2024
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Goodwill and Other Intangible Assets
Note3. Goodwill and Other Intangible Assets
Changes in the carrying amount of goodwill by segment—
| Off-Highway | |
|---|---|
| Balance, December 31, 2023 | $263 |
| Reclassified to disposal group held for sale | (2) |
| Currency impact | (5) |
| Balance, June 30, 2024 | $256 |
Components of other intangible assets —
| June 30, 2024 · December 31, 2023 | |||||||
|---|---|---|---|---|---|---|---|
| Weighted Average Useful Life (years) | Gross Carrying Amount | Accumulated Impairment and Amortization | Net Carrying Amount | Gross Carrying Amount | Accumulated Impairment and Amortization | Net Carrying Amount | |
| Amortizable intangible assets | |||||||
| Core technology | 8 | $157 | $(129) | $28 | $159 | $(126) | $33 |
| Trademarks and trade names | 13 | 25 | (15) | 10 | 29 | (15) | 14 |
| Customer relationships | 8 | 491 | (438) | 53 | 503 | (441) | 62 |
| Non-amortizable intangible assets | |||||||
| Trademarks and trade names | 72 | 72 | 73 | 73 | |||
| $745 | $(582) | $163 | $764 | $(582) | $182 | ||
Net carrying amounts of intangible assets, other than goodwill, attributable to each of our operating segments—
| Light Vehicle | $12 |
|---|---|
| Commercial Vehicle | 55 |
| Off-Highway | 93 |
| Power Technologies | 3 |
| $163 |
Amortization expense related to amortizable intangible assets —
| Three Months Ended · Six Months Ended | ||||
|---|---|---|---|---|
| June 30, | June 30, | |||
| 2024 | 2023 | 2024 | 2023 | |
| Charged to cost of sales | $2 | $2 | $4 | $4 |
| Charged to amortization of intangibles | 4 | 4 | 7 | 7 |
| Total amortization | $6 | $6 | $11 | $11 |
10
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