Intangibles, Net

9 Months Ended

Sep. 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)	September 30, 2024		December 31, 2023
Developed and Acquired Technology, Net of Accumulated Amortization of $574 at September 30, 2024 and $479 at December 31, 2023	$	147	$	135
Trade Names, Net of Accumulated Amortization of $190 at September 30, 2024 and $160 at December 31, 2023	209		235
Intangibles, Net of Accumulated Amortization of $764 at September 30, 2024 and $639 at December 31, 2023	$	356	$	370

Amortization expense was $43 million and $125 million in the three and nine months ended September 30, 2024, respectively, and $37 million and $117 million for the three and nine months ended September 30, 2023, respectively, and is reported in “Selling, General and Administrative” on our Condensed Consolidated Statements of Operations. The net increase in developed and acquired technology was primarily related to intangibles acquired in connection with acquisitions during the three and nine months ended September 30, 2024. Please refer to “Note 13 – Acquisitions.”