Intangible Assets

6 Months Ended

Jun. 30, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

Note 2—Intangible Assets

Intangible assets, net on our consolidated balance sheets consisted of the following:

	June 30, 2025		December 31, 2024
	(Dollars in millions)
Customer relationships, less accumulated amortization of $4,648 and $4,504	$	2,899	3,196
Capitalized software, less accumulated amortization of $484 and $451	356		373
Total Intangible assets, net	$	3,255	3,569

As of June 30, 2025 and December 31, 2024, the gross carrying amount of intangible assets was $8.4 billion and $8.5 billion, respectively.

Total amortization expense for finite-lived intangible assets for the three months ended June 30, 2025 and 2024 totaled $172 million and $195 million, respectively, and for the six months ended June 30, 2025 and 2024 totaled $343 million and $381 million, respectively.