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Goodwill and Intangible Assets
 12 Months Ended
Jun. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets Goodwill and Intangible Assets
The changes in the carrying amount of goodwill are as follows:
Diversified Industrial SegmentAerospace Systems SegmentTotal
Balance June 30, 2023$7,683 $2,946 $10,629 
Acquisitions1 10 11 
Divestitures(25)— (25)
Foreign currency translation(52)(56)(108)
Balance June 30, 2024$7,607 $2,900 $10,507 
Divestitures(90)— (90)
Foreign currency translation211 66 277 
Balance June 30, 2025$7,728 $2,966 $10,694 
Acquisitions represent goodwill resulting from the purchase price allocation for the acquisition of Meggitt during the measurement period. Refer to Note 3 for further discussion.
Divestitures represent goodwill associated with the sale of businesses during 2025 and 2024.
Goodwill is tested for impairment at the reporting unit level annually and between annual tests whenever events or circumstances indicate that the carrying value of a reporting unit may exceed its fair value. Our annual impairment tests performed in 2025, 2024 and 2023 resulted in no impairment loss being recognized.
Intangible assets are amortized on a straight-line method over their legal or estimated useful lives. The gross carrying value and accumulated amortization for each major category of intangible asset at June 30 are as follows:
20252024
Gross Carrying AmountAccumulated AmortizationGross Carrying AmountAccumulated Amortization
Patents and technology$2,134 $556 $2,117 $452 
Trade names1,037 499 1,042 441 
Customer relationships and other8,194 2,936 8,044 2,494 
Total$11,365 $3,991 $11,203 $3,387 
Total intangible asset amortization expense in 2025, 2024 and 2023 was $553 million, $578 million and $501 million, respectively. The estimated intangible asset amortization expense for the five years ending June 30, 2026 through 2030 is $550 million, $547 million, $539 million, $518 million and $489 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 in 2025, 2024 or 2023.