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Intangible Assets (Tables)
6 Months Ended
Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Intangible Assets by Major Class

Intangible assets consist of the following:

 

 

(Stated in millions)

 

 

 

Jun. 30, 2024

 

Dec. 31, 2023

 

Gross

 

Accumulated

 

 

Net Book

 

Gross

 

Accumulated

 

 

Net Book

 

Book Value

 

Amortization

 

 

Value

 

Book Value

 

Amortization

 

 

Value

 

Customer relationships

$

1,887

 

$

754

 

$

1,133

 

$

1,887

 

$

709

 

$

1,178

 

Technology/technical know-how

 

1,622

 

 

 

821

 

 

801

 

 

1,516

 

 

770

 

 

746

 

Tradenames

 

795

 

 

282

 

 

513

 

 

795

 

 

265

 

 

530

 

Other

 

1,598

 

 

847

 

 

751

 

 

1,582

 

 

797

 

 

785

 

$

5,902

 

$

2,704

 

$

3,198

 

$

5,780

 

$

2,541

 

$

3,239

 

Amortization Expense Charged to Income for Intangible Assets

Amortization expense charged to income was as follows:

 

(Stated in millions)

 

 

 

 

 

 

 

 

2024

 

 

2023

 

Second Quarter

$

82

 

$

77

 

Six Months

$

163

 

$

153