Intangible Assets, Net

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

6 – Intangible Assets, Net

The components of intangible assets, net were as follows:

	December 31, 2023
	Gross				Net
	Carrying		Accumulated		Intangible
(Dollars in millions)	Amount		Amortization		Assets
Developed and Acquired Technology	$	614	$	(479)	$	135
Trade Names	395		(160)		235
Intangible Assets, Net	$	1,009	$	(639)	$	370
	December 31, 2022
	Gross				Net
	Carrying		Accumulated		Intangible
(Dollars in millions)	Amount		Amortization		Assets
Developed and Acquired Technology	$	591	$	(359)	$	232
Trade Names	395		(121)		274
Intangible Assets, Net	$	986	$	(480)	$	506

Amortization expense was $156 million, $155 million and $156 million in 2023, 2022, and 2021, respectively. Based on the carrying value of intangible assets at December 31, 2023, amortization expense for the subsequent five years is estimated as follows (dollars in millions): 

Period	Amount
2024	$	150
2025	45
2026	45
2027	44
2028	43