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GOODWILL AND OTHER INTANGIBLE ASSETS - NET
9 Months Ended
Sep. 30, 2024
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 nine months ended September 30, 2024, by reportable business segment:
December 31, 2023Acquisitions/
Divestitures
Currency
Translation
Adjustment
Reclassified to Assets Held for SaleSeptember 30, 2024
Aerospace Technologies
$2,386 $646 $10 $— $3,042 
Industrial Automation
9,650 — 63 (411)9,302 
Building Automation
3,380 2,826 40 — 6,246 
Energy and Sustainability Solutions
1,727 — — 1,731 
Corporate and All Other906 — 43 — 949 
Total Goodwill$18,049 $3,472 $160 $(411)$21,270 
Other intangible assets are comprised of:
 September 30, 2024December 31, 2023
Gross
Carrying
Amount
Accumulated
Amortization
Net
Carrying
Amount
Gross
Carrying
Amount
Accumulated
Amortization
Net
Carrying
Amount
Definite-life intangibles
      
Patents and technology$2,659 $(1,833)$826 $2,399 $(1,837)$562 
Customer relationships6,457 (2,231)4,226 4,199 (2,601)1,598 
Trademarks421 (296)125 362 (284)78 
Other413 (281)132 299 (277)22 
Total definite-life intangibles—net9,950 (4,641)5,309 7,259 (4,999)2,260 
Indefinite-life intangibles
Trademarks2
440 — 440 971 — 971 
Total Other intangible assets—net1
$10,390 $(4,641)$5,749 $8,230 $(4,999)$3,231 
1
As of September 30, 2024, Total Other intangible assets-net excludes net carrying amount of $125 million of customer relationships and net carrying amount of $483 million of indefinite-life trademarks that are included in Assets held for sale in the Consolidated Balance Sheet. Refer to Note 3.
2
An impairment charge of $48 million was recorded on indefinite-lived intangible assets related to the personal protective equipment business during the three months ended September 30, 2024.
Other intangible assets amortization includes $120 million and $275 million of acquisition-related intangible amortization expense for the three and nine months ended September 30, 2024, respectively, and $87 million and $216 million for the three and nine months ended September 30, 2023, respectively.