Intangibles, Net

6 Months Ended

Jun. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Intangibles, Net

5 – Intangibles, Net

The components of intangible assets, net were as follows:

(Dollars in millions)	June 30, 2024		December 31, 2023
Developed and Acquired Technology, Net of Accumulated Amortization of $538 at June 30, 2024 and $479 at December 31, 2023	$	165	$	135
Trade Names, Net of Accumulated Amortization of $180 at June 30, 2024 and $160 at December 31, 2023	219		235
Intangibles, Net of Accumulated Amortization of $718 at June 30, 2024 and $639 at December 31, 2023	$	384	$	370

Amortization expense was $41 million and $82 million in the three and six months ended June 30, 2024, respectively, and $40 million and $80 million for the three and six months ended June 30, 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 13 – Acquisitions.”