OTHER INTANGIBLE ASSETS, NET

9 Months Ended

Sep. 30, 2024

Intangible Assets, Net (Excluding Goodwill) [Abstract]

Intangible assets are generally the result of acquisitions and consist primarily of purchased technology and customer related intangibles. Intangible assets are amortized over useful lives that range between 1 to 20 years.

The following tables present the cumulative composition of the Corporation’s intangible assets:


	September 30, 2024						December 31, 2023
(In thousands)	Gross		Accumulated Amortization		Net		Gross		Accumulated Amortization		Net
Technology	$	313,900	$	(207,777)	$	106,123	$	308,256	$	(195,446)	$	112,810
Customer related intangibles	684,155		(364,776)		319,379		670,966		(339,325)		331,641
Programs (1)	144,000		(46,800)		97,200		144,000		(41,400)		102,600
Other intangible assets	55,170		(45,475)		9,695		54,227		(43,666)		10,561
Total	$	1,197,225	$	(664,828)	$	532,397	$	1,177,449	$	(619,837)	$	557,612

(1) Programs include values assigned to major programs of acquired businesses and represent the aggregate value associated with the customer relationships, contracts, technology, and trademarks underlying the associated program.

During the nine months ended September 30, 2024, the Corporation acquired intangible assets of $18 million. The Corporation acquired Customer-related intangibles of $12 million, Technology of $5 million, and Other intangible assets of $1 million, which have weighted average amortization periods of 18 years, 15 years, and 4 years, respectively.

Total intangible amortization expense for the nine months ended September 30, 2024 was $43 million, as compared to $49 million in the comparable prior year period. The estimated future amortization expense of intangible assets over the next five years is as follows:


(In millions)
2024	$	57
2025	$	55
2026	$	54
2027	$	51
2028	$	45