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Intangible assets, net | 12 Months Ended
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Dec. 31, 2024
Intangible Assets, Net (Excluding Goodwill) [Abstract] |
Intangible assets, net | 8. Intangible assets, net Intangible assets, net at December 31 were:
in $ millions | 2024 | 2023
Marketing-related | 337 | 310
Customer-related (i) | 1,394 | 1,260
Contract-based | 110 | 101
Software costs | 126 | –
IT projects in progress | 63 | –
Total intangible assets, gross | 2,030 | 1,671
Accumulated amortization | (819) | (630)
Total intangible assets, net | 1,211 | 1,041
(i) The customer-related intangible assets relate predominantly to non-contractual customer relationships. Amortization of intangibles included predominantly in Selling, general and administrative expenses in the Consolidated Statements of Income for the years ended December 31, 2024, 2023 and 2022 amounted to $152 million, $139 million and $103 million, respectively. The estimated amortization for intangible assets for the five years subsequent to December 31, 2024, and thereafter is as follows:
in $ millions | 2025 | 2026 | 2027 | 2028 | 2029 | 2030 and thereafter
Amortization | 207 | 112 | 116 | 104 | 85 | 587

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