The following table presents the company's intangible asset balances by major asset class.

* Amounts as of March 31, 2020 and December 31, 2019 include a decrease in net intangible asset balances of $92 million and $42 million, respectively, due to foreign currency translation.

**	Other intangibles are primarily acquired proprietary and non-proprietary business processes, methodologies and systems.

The net carrying amount of intangible assets decreased $569 million during the first three months of 2020, primarily due to intangible asset amortization. The aggregate intangible amortization expense was $622 million and $303 million for the first quarter ended March 31, 2020 and 2019, respectively. The increase in intangible amortization expense was primarily due to an increase in the gross carrying amount of intangible assets from the Red Hat acquisition which closed in the third quarter of 2019. In addition, in the first three months of 2020, the company retired $154 million of fully amortized intangible assets, impacting both the gross carrying amount and accumulated amortization by this amount.

The future amortization expense relating to intangible assets currently recorded in the Consolidated Balance Sheet is estimated to be the following at March 31, 2020:


	Capitalized		Acquired
(Dollars in millions)	Software		Intangibles		Total
Remainder of 2020	$	415	$	1,372	$	1,787
2021		399		1,738		2,137
2022		170		1,676		1,846
2023		12		1,363		1,375
2024		0		1,313		1,313
Thereafter		—		6,208		6,208

Goodwill

The changes in the goodwill balances by segment, for the three months ended March 31, 2020 and for the year ended December 31, 2019 are as follows:


									Foreign
									Currency
					Purchase				Translation
(Dollars in millions)	Balance		Goodwill		Price				And Other		Balance
Segment	1/1/2020		Additions		Adjustments		Divestitures		Adjustments**		3/31/2020
Cloud & Cognitive Software	$	43,037	$	10	$	12	$	—	$	(438)	$	42,620
Global Business Services		5,775		—		—		—		(102)		5,672
Global Technology Services		7,141		—		—		—		(167)		6,974
Systems		2,270		—		—		—		(19)		2,251
Other—divested businesses		—		—		—		—		—		—
Total	$	58,222	$	10	$	12	$	—	$	(727)	$	57,517


									Foreign
									Currency
					Purchase				Translation
(Dollars in millions)	Balance		Goodwill		Price				And Other		Balance
Segment	1/1/2019		Additions		Adjustments		Divestitures		Adjustments**		12/31/2019
Cloud & Cognitive Software*	$	24,463	$	18,399	$	133	$	—	$	41	$	43,037
Global Business Services		4,711		1,059		1		(1)		5		5,775
Global Technology Services		3,988		3,119		—		—		34		7,141
Systems		1,847		525		(110)		—		7		2,270
Other—divested businesses*		1,256		—		—		(1,256)		—		—
Total	$	36,265	$	23,102	$	24	$	(1,257)	$	87	$	58,222

* Recast to conform to 2020 presentation.

** Primarily driven by foreign currency translation.

There were no goodwill impairment losses recorded during the first three months of 2020 or full year 2019 and the company has no accumulated impairment losses. As a result of the changes in the current economic environment related to the COVID-19 pandemic, the company considered whether there was a potential triggering event requiring the evaluation of whether goodwill should be tested for impairment. The company assessed the qualitative risk factors for the Systems reporting unit (given the results of the 2019 annual impairment test) and determined that it was not more likely than not that the fair value of the reporting unit was less than its carrying amount as of March 31, 2020.

Purchase price adjustments recorded in the first three months of 2020 and full-year 2019 were related to acquisitions that were still subject to the measurement period that ends at the earlier of 12 months from the acquisition date or when information becomes available. Net purchase price adjustments recorded during the first three months of 2020 and full-year 2019 were not material.