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GOODWILL AND OTHER INTANGIBLE ASSETS
 12 Months Ended
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND OTHER INTANGIBLE ASSETS GOODWILL AND OTHER INTANGIBLE ASSETS
In conjunction with the GE Vernova separation, we changed our segment reporting structure. As a result, all prior period balances for those segments were updated to reflect this change.

Changes in the carrying value of Goodwill for years ending December 31, 2024, 2023 and 2022 were as follows:

Commercial Engines & ServicesDefense & Propulsion TechnologiesTotal
Balance at December 31, 2022
$6,386 $2,449 $8,835 
Goodwill adjustments(a)
86 26 113 
Balance at December 31, 2023
$6,472 $2,476 $8,948 
Goodwill impairment— (251)(251)
Goodwill adjustments(a)
(131)(28)(159)
Balance at December 31, 2024
$6,341 $2,197 $8,538 
(a) Goodwill adjustments are primarily related to foreign currency exchange.

Also in conjunction with the GE Vernova separation, the composition of our reporting units for evaluation of goodwill impairment has changed. As a result, we allocated goodwill among new and realigned reporting units using a relative fair value approach and performed assessments for the new reporting units. We assess the possibility that a reporting unit’s fair value has been reduced below its carrying amount due to the occurrence of events or circumstances between annual impairment testing dates. In the third quarter of 2024, we performed an interim impairment test at our Colibrium Additive reporting unit within our Defense & Propulsion Technologies segment given declines in the additive manufacturing industry due to slower adoption of technology, which incorporated a combination of income and market valuation approaches. The results of the analysis indicated that the carrying value of the reporting unit was in excess of fair value and, therefore, we recorded a non-cash impairment loss of $251 million in Goodwill impairments in our Statement of Earnings (Loss). After the impairment charges there is no remaining goodwill in the reporting unit. Colibrium Additive is a critical business for current and future technology at GE Aerospace as we continue to focus on where it can create the most value.

In the fourth quarter of 2024, we performed our annual impairment test. Based on the results of this test, the fair values of each of our reporting units exceeded their carrying values.
20242023
INTANGIBLE ASSETS SUBJECT TO AMORTIZATION December 31
Useful lives
(in years)		Gross carrying
amount		Accumulated
amortization		NetGross carrying
amount		Accumulated
amortization		Net
Customer-related(a)
3-15
$3,850 $(2,083)$1,767 $3,845 $(1,898)$1,947 
Patents and technology
5-15
2,744 (759)1,985 3,000 (814)2,186 
Capitalized software
5
1,296 (803)493 1,287 (796)491 
Trademarks & other
13
70 (58)13 73 (55)18 
Total$7,960 $(3,703)$4,257 $8,205 $(3,563)$4,642 
(a) Balance includes payments made to our customers, primarily within our Commercial Engines & Services segment.

Intangible assets decreased $385 million in 2024, primarily as a result of amortization. Consolidated amortization expense was $350 million, $382 million and $338 million for the years ended December 31, 2024, 2023 and 2022, respectively.

Estimated consolidated annual pre-tax amortization for intangible assets over the next five calendar years are as follows:

ESTIMATED 5 YEAR CONSOLIDATED AMORTIZATION20252026202720282029
Estimated annual pre-tax amortization$348 $343 $329 $322 $323 

During 2024, we recorded additions to intangible assets subject to amortization of $136 million with a weighted-average amortizable period of 6.38 years, including capitalized software of $118 million, with a weighted-average amortizable period of 5 years.