Goodwill and Intangible Assets (Tables)

6 Months Ended

Jun. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

The change in the carrying amount of goodwill by business segment was as follows:

(Millions)	Safety and Industrial		Transportation and Electronics		Consumer		Corporate and Unallocated		Total Company
Balance as of December 31, 2023	$	4,542	$	1,512	$	270	$	58	$	6,382
Translation and other	(42)		(10)		(12)		—		(64)
Balance as of June 30, 2024	$	4,500	$	1,502	$	258	$	58	$	6,318

Schedule of Acquired Intangible Assets

The carrying amount and accumulated amortization of acquired finite-lived intangible assets, in addition to the balance of non-amortizable intangible assets follow:

(Millions)	June 30, 2024		December 31, 2023
Customer related	$	1,328	$	1,337
Patents	224		225
Other technology-based	373		375
Definite-lived tradenames	488		489
Other	46		48
Total gross carrying amount	2,459		2,474
Accumulated amortization — customer related	(910)		(883)
Accumulated amortization — patents	(223)		(224)
Accumulated amortization — other technology-based	(322)		(317)
Accumulated amortization — definite-lived tradenames	(288)		(276)
Accumulated amortization — other	(30)		(31)
Total accumulated amortization	(1,773)		(1,731)
Total finite-lived intangible assets — net	686		743
Indefinite lived intangible assets (primarily tradenames)	580		580
Total intangible assets — net	$	1,266	$	1,323

Schedule of Amortization Expense for Acquired Intangible Assets

Amortization expense follows:

	Three months ended June 30,				Six months ended June 30,
(Millions)	2024		2023		2024		2023
Amortization expense	$	27	$	29	$	54	$	59

Schedule of Expected Amortization Expense for Acquired Amortizable Intangible Assets

Expected amortization expense for acquired amortizable intangible assets recorded as of June 30, 2024 follows:

(Millions)	Remainder of 2024		2025		2026		2027		2028		2029		After 2029
Amortization expense	$	52	$	105	$	104	$	85	$	59	$	57	$	224