GOODWILL AND OTHER INTANGIBLE ASSETS-NET

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND OTHER INTANGIBLE ASSETS-NET

GOODWILL AND OTHER INTANGIBLE ASSETS—NET

The following table summarizes the change in the carrying amount of goodwill for the years ended December 31, 2023, and 2022, by reportable business segment:

	December 31, 2022		Acquisitions/ Divestitures		Currency Translation Adjustment		December 31, 2023
Aerospace	$	2,376	$	—	$	10	$	2,386
Honeywell Building Technologies	3,338		—		42		3,380
Performance Materials and Technologies	6,013		392		80		6,485
Safety and Productivity Solutions	4,896		—		(4)		4,892
Corporate and All Other	874		—		32		906
Total Goodwill	$	17,497	$	392	$	160	$	18,049

Other intangible assets are comprised of:

	December 31, 2023						December 31, 2022
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Definite-life intangibles
Patents and technology	$	2,399	$	(1,837)	$	562	$	2,313	$	(1,759)	$	554
Customer relationships	4,199		(2,601)		1,598		3,989		(2,397)		1,592
Trademarks	362		(284)		78		371		(273)		98
Other	299		(277)		22		299		(274)		25
Total definite-life intangibles—net	7,259		(4,999)		2,260		6,972		(4,703)		2,269
Indefinite-life intangibles
Trademarks	971		—		971		953		—		953
Total Other intangible assets—net	$	8,230	$	(4,999)	$	3,231	$	7,925	$	(4,703)	$	3,222

Intangible assets amortization expense was $292 million, $333 million, and $465 million for the years ended December 31, 2023, 2022, and 2021, respectively. Estimated intangible asset amortization expense for each of the next five years approximates $287 million in 2024, $262 million in 2025, $257 million in 2026, $247 million in 2027, and $249 million in 2028.