Goodwill and intangible assets

6 Months Ended

Dec. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

The changes in the carrying amount of goodwill for the six months ended December 31, 2024 are as follows:


	Diversified Industrial Segment		Aerospace Systems Segment		Total
Balance at June 30, 2024	$	7,607,429	$	2,900,004	$	10,507,433

Divestitures	(89,549)		—		(89,549)


Foreign currency translation	(50,556)		(10,025)		(60,581)
Balance at December 31, 2024	$	7,467,324	$	2,889,979	$	10,357,303

Divestitures relate to both CFC and a non-core filtration business. Refer to Note 4 for further discussion.

Intangible assets are amortized using the straight-line method over their legal or estimated useful lives. The following summarizes the gross carrying value and accumulated amortization for each major category of intangible assets:


	December 31, 2024				June 30, 2024
	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Patents and technology	$	2,086,865	$	497,399	$	2,116,999	$	451,908
Trade names	1,009,053		459,186		1,041,633		441,382
Customer relationships and other	7,957,816		2,652,479		8,044,208		2,493,369
Total	$	11,053,734	$	3,609,064	$	11,202,840	$	3,386,659

Total intangible asset amortization expense for the six months ended December 31, 2024 and 2023 was $278 million and $298 million, respectively. The estimated amortization expense for the five years ending June 30, 2025 through 2029 is $550 million, $547 million, $539 million, $532 million and $506 million, respectively.

Intangible assets are evaluated for impairment whenever events or circumstances indicate that the undiscounted net cash flows to be generated by their use over their expected useful lives and eventual disposition may be less than their net carrying value. No material intangible asset impairments occurred during the six months ended December 31, 2024 and 2023.