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Goodwill and other intangible assets | 12 Months Ended
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Dec. 31, 2024
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 2024 and 2023 follow (in millions).
|  | December 31, |
|  | 2024 |  |  | 2023 |
Balance at the beginning of the year* |  | $ | 84,626 |  |  | $ | 78,119 |
Business acquisitions |  |  | 87 |  |  |  | 7,347 |
Other, including acquisition period remeasurements and foreign currency translation |  |  | (833 | ) |  |  | (840 | )
Balance at the end of the year* |  | $ | 83,880 |  |  | $ | 84,626 |
* Net of accumulated goodwill impairments of $11.5 billion as of December 31, 2024, $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, 2024 |  |  | December 31, 2023 |
|  | Gross carrying amount |  |  | Accumulated amortization |  |  | Net carrying value |  |  | Gross carrying amount |  |  | Accumulated amortization |  |  | Net carrying value |
Insurance and other: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Customer relationships |  | $ | 30,941 |  |  | $ | 8,840 |  |  | $ | 22,101 |  |  | $ | 30,832 |  |  | $ | 8,048 |  |  | $ | 22,784 |
Trademarks and trade names |  |  | 9,007 |  |  |  | 1,041 |  |  |  | 7,966 |  |  |  | 8,997 |  |  |  | 899 |  |  |  | 8,098 |
Patents and technology |  |  | 5,375 |  |  |  | 4,359 |  |  |  | 1,016 |  |  |  | 5,238 |  |  |  | 4,109 |  |  |  | 1,129 |
Other |  |  | 5,551 |  |  |  | 1,996 |  |  |  | 3,555 |  |  |  | 5,764 |  |  |  | 1,891 |  |  |  | 3,873 |
|  | $ | 50,874 |  |  | $ | 16,236 |  |  | $ | 34,638 |  |  | $ | 50,831 |  |  | $ | 14,947 |  |  | $ | 35,884 |
Railroad, utilities and energy: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Customer relationships and contracts |  | $ | 1,553 |  |  | $ | 728 |  |  | $ | 825 |  |  | $ | 1,565 |  |  | $ | 644 |  |  | $ | 921 |
Other |  |  | 437 |  |  |  | 126 |  |  |  | 311 |  |  |  | 450 |  |  |  | 115 |  |  |  | 335 |
|  | $ | 1,990 |  |  | $ | 854 |  |  | $ | 1,136 |  |  | $ | 2,015 |  |  | $ | 759 |  |  | $ | 1,256 |
Intangible assets of the railroad, utilities and energy businesses are included in other assets in our Consolidated Balance Sheets. Intangible assets with indefinite lives were $18.9 billion as of December 31, 2024 and December 31, 2023 and primarily related to certain customer relationships and trademarks and trade names. Intangible asset amortization expense was $1.8 billion in 2024 and 2023 and $1.2 billion in 2022. Estimated amortization expense over the next five ye ars follo ws (in billions): 2025 – $1.7; 2026 – $1.6; 2027 – $1.4; 2028 – $1.4 and 2029 – $1.3.

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
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