GOODWILL AND OTHER INTANGIBLES

12 Months Ended

Sep. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND OTHER INTANGIBLES

GOODWILL AND OTHER INTANGIBLES

The change in the carrying value of goodwill by business segment follows:

	Final Control		Measurement & Analytical	Discrete Automation	Safety & Productivity	Control Systems & Software	Test & Measurement	AspenTech	Total
Balance, September 30, 2022	$	2,616	1,170	807	364	663	—	8,326	13,946
Acquisitions	—		374	55	—	—	—	—	429
Foreign currency translation and other	44		1	30	24	5	—	1	105
Balance, September 30, 2023	2,660		1,545	892	388	668	—	8,327	14,480
Acquisitions	—		—	—	—	—	3,442	—	3,442
Foreign currency translation and other	42		31	27	16	6	21	2	145
Balance, September 30, 2024	$	2,702	1,576	919	404	674	3,463	8,329	18,067

The gross carrying amount and accumulated amortization of identifiable intangible assets by major class follow:

	Customer Relationships			Intellectual Property		Capitalized Software		Total
	2023		2024	2023	2024	2023	2024	2023	2024
Gross carrying amount	$	4,623	8,114	4,118	6,017	1,370	1,497	10,111	15,628
Less: Accumulated amortization	1,270		1,818	1,411	2,116	1,167	1,258	3,848	5,192
Net carrying amount	$	3,353	6,296	2,707	3,901	203	239	6,263	10,436

Intangible asset amortization expense for the major classes included above for 2024, 2023 and 2022 was $1,366, $764 and $530, respectively. Based on intangible asset balances as of September 30, 2024, amortization expense is expected to approximate $1,168 in 2025, $1,065 in 2026, $1,030 in 2027, $988 in 2028 and $949 in 2029. The increase in goodwill and intangible assets in 2024 reflects the National Instruments acquisition.