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Goodwill and other intangible assets | 12 Months Ended
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Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and other intangible assets | (13) Goodwill and other intangible assets Reconciliations of the changes in the carrying value of goodwill during 2023 and 2022 follow (in millions).
|  | December 31, |
|  | 2023 |  |  | 2022 |
Balance at the beginning of the year |  | $ | 78,119 |  |  | $ | 73,875 |
Business acquisitions |  |  | 7,347 |  |  |  | 4,657 |
Other, including acquisition period remeasurements and foreign currency translation |  |  | (840 | ) |  |  | (413 | )
Balance at the end of the year* |  | $ | 84,626 |  |  | $ | 78,119 |
* Net of accumulated goodwill impairments of $11.1 billion as of December 31, 2023 and $11.0 billion as of December 31, 2022. Other intangible assets are summarized below (in millions).
|  | December 31, 2023 |  |  | December 31, 2022 |
|  | Gross carrying amount |  |  | Accumulated amortization |  |  | Net carrying value |  |  | Gross carrying amount |  |  | Accumulated amortization |  |  | Net carrying value |
Insurance and other: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Customer relationships |  | $ | 28,305 |  |  | $ | 7,901 |  |  | $ | 20,404 |  |  | $ | 27,765 |  |  | $ | 7,174 |  |  | $ | 20,591 |
Trademarks and trade names |  |  | 5,619 |  |  |  | 846 |  |  |  | 4,773 |  |  |  | 5,603 |  |  |  | 822 |  |  |  | 4,781 |
Patents and technology |  |  | 5,238 |  |  |  | 4,109 |  |  |  | 1,129 |  |  |  | 4,943 |  |  |  | 3,748 |  |  |  | 1,195 |
Other |  |  | 4,826 |  |  |  | 1,805 |  |  |  | 3,021 |  |  |  | 4,150 |  |  |  | 1,530 |  |  |  | 2,620 |
|  | $ | 43,988 |  |  | $ | 14,661 |  |  | $ | 29,327 |  |  | $ | 42,461 |  |  | $ | 13,274 |  |  | $ | 29,187 |
Railroad, utilities and energy: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Customer relationships and contracts |  | $ | 4,092 |  |  | $ | 791 |  |  | $ | 3,301 |  |  | $ | 1,507 |  |  | $ | 541 |  |  | $ | 966 |
Trademarks and trade names |  |  | 3,592 |  |  |  | 98 |  |  |  | 3,494 |  |  |  | 217 |  |  |  | 39 |  |  |  | 178 |
Other |  |  | 1,174 |  |  |  | 156 |  |  |  | 1,018 |  |  |  | 190 |  |  |  | 42 |  |  |  | 148 |
|  | $ | 8,858 |  |  | $ | 1,045 |  |  | $ | 7,813 |  |  | $ | 1,914 |  |  | $ | 622 |  |  | $ | 1,292 |
Other intangible assets of the railroad, utilities and energy businesses are included in other assets. The net carrying value at December 31, 2023 included $6.6 billion related to PTC. Intangible asset amortization expense was $1,828 million in 2023, $1,233 million in 2022 and $1,252 million in 2021. Estimated amortization expense over the next five ye ars follo ws (in millions): 2024 – $2,059; 2025 – $1,988; 2026 – $1,898; 2027 – $1,754 and 2028 – $1,684. Intangible assets with indefinite lives were $18.9 billion as of December 31, 2023 and $18.3 billion as of December 31, 2022 and primarily related to certain customer relationships and trademarks and trade names.

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 350 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//350/tableOfContent + Details
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