Intangibles, Net

3 Months Ended

Mar. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Intangibles, Net

5 – Intangibles, Net

The components of intangible assets, net were as follows:

(Dollars in millions)	March 31, 2024		December 31, 2023
Developed and Acquired Technology, Net of Accumulated Amortization of $508 at March 31, 2024 and $479 at December 31, 2023	$	192	$	135
Trade Names, Net of Accumulated Amortization of $170 at March 31, 2024 and $160 at December 31, 2023	225		235
Intangibles, Net of Accumulated Amortization of $678 at March 31, 2024 and $639 at December 31, 2023	$	417	$	370

Amortization expense was $41 million and $40 million for the three months ended March 31, 2024 and March 31, 2023, respectively, and is reported in “Selling, General and Administrative” on our Condensed Consolidated Statements of Operations. The increase was primarily related to intangibles acquired in connection with acquisitions during the three months ended March 31, 2024. Please refer to “Note 12 – Acquisitions”.