Goodwill and Other Intangibles

12 Months Ended

Dec. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

Changes in the net carrying value of goodwill by segment were as follows (in millions):


	CF		AVA		Total




Goodwill as of December 31, 2024	$	2,085	$	1,806	$	3,891
Elo acquisition	776		—		776
Photoneo acquisition	—		34		34
Foreign exchange impact	3		23		26
Goodwill as of December 31, 2025	$	2,864	$	1,863	$	4,727

As discussed in Note 1, Description of Business and Basis of Presentation, the Company changed its operating segments effective in the fourth quarter of 2025. Existing goodwill was reallocated to the new reporting units on a relative fair value basis. No events occurred during the fiscal years ended 2025, 2024 or 2023 that indicated it was more likely than not that our goodwill was impaired. See Note 5, Business Acquisitions for further details related to the Company’s acquisitions and purchase price allocations.

Other Intangibles, net

The balances in Other Intangibles, net consisted of the following (in millions):


	As of December 31, 2025						As of December 31, 2024
	Gross Carrying Amount		Accumulated Amortization & Impairment		Net		Gross Carrying Amount		Accumulated Amortization & Impairment		Net
Amortized intangible assets
Technology and patents	$	1,248	$	(843)	$	405	$	949	$	(737)	$	212
Customer and other relationships	1,079		(693)		386		857		(647)		210
Trade names	85		(67)		18		65		(65)		—

Total	$	2,412	$	(1,603)	$	809	$	1,871	$	(1,449)	$	422

Amortization expense was $114 million, $104 million and $104 million for years ended December 31, 2025, 2024 and 2023, respectively.

In relation to the Company’s decision to dispose of or exit its robotics automation solutions business, we recognized an impairment loss of $34 million on our technology and patent-related intangible assets during the year ended December 31, 2025. See Note 9, Exit and Restructuring Costs for additional information.

Estimated future intangible asset amortization expense is as follows (in millions):


Year Ended December 31,
2026	$	149
2027	135
2028	122
2029	94
2030	86
Thereafter	223
Total	$	809