Goodwill and Other Intangible Assets

9 Months Ended

Sep. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

NOTE E. GOODWILL AND OTHER INTANGIBLE ASSETS

As of both September 30, 2024 and December 31, 2023, the carrying value of the Company’s Goodwill was $2,076 million.

The following presents a summary of other intangible assets (dollars in millions):

	September 30, 2024							December 31, 2023
	Intangible assets, gross		Accumulated amortization			Intangible assets, net		Intangible assets, gross		Accumulated amortization			Intangible assets, net
Other intangible assets:
Trade name	$	791	$	—		$	791	$	791	$	—		$	791
In-process research and development		1		—			1		25		—			25
Customer relationships — commercial		839		(837	)		2		839		(833	)		6
Proprietary technology		508		(481	)		27		484		(479	)		5
Customer relationships — defense		62		(58	)		4		62		(56	)		6
Non-compete agreement		1		(1	)		—		1		(1	)		—
Total	$	2,202	$	(1,377	)	$	825	$	2,202	$	(1,369	)	$	833

In the second quarter of 2024, the Company reclassified $23 million of in-process research and development ("IPR&D") to Proprietary technology. The IPR&D was reclassified upon the completion of the Company's project to develop commercially viable eGen Power products.

Amortization expense related to other intangible assets for the next five fiscal years is expected to be (dollars in millions):

	2025		2026		2027		2028		2029
Amortization expense	$	7	$	3	$	3	$	2	$	2