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Acquisitions, Dispositions, Goodwill and Intangible Assets | 9 Months Ended
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Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
Dispositions, Goodwill and Intangible Assets Disclosure | Note 2: Acquisitions, Dispositions, Goodwill, and Intangible Assets Dispositions. On July 20, 2023, we entered into a definitive agreement to sell our actuation and flight control business within our Collins segment for gross proceeds of approximately $1.8 billion. The closing of the transaction is subject to regulatory approvals and other customary closing conditions. Goodwill. Changes in our goodwill balances for the nine months ended September 30, 2023 were as follows:
(dollars in millions) | Balance as of December 31, 2022 |  | Acquisitions and Divestitures |  |  |  | Foreign Currency Translation and Other |  | Balance as of September 30, 2023
Collins Aerospace | $ | 32,846 |  |  | $ | (3) |  |  |  |  | $ | 48 |  |  | $ | 32,891 |
Pratt & Whitney | 1,563 |  |  | — |  |  |  |  | — |  |  | 1,563 |
Raytheon | 19,414 |  |  | — |  |  |  |  | (2) |  |  | 19,412 |
Total Segments | 53,823 |  |  | (3) |  |  |  |  | 46 |  |  | 53,866 |
Eliminations and other | 17 |  |  | — |  |  |  |  | — |  |  | 17 |
Total | $ | 53,840 |  |  | $ | (3) |  |  |  |  | $ | 46 |  |  | $ | 53,883 |
Effective July 1, 2023, we implemented a new organizational structure resulting in a change from four segments to three segments. As a result, we reassigned goodwill and customer relationship intangibles to our new segment structure. Goodwill was reassigned on a relative fair value basis and we tested goodwill related to the impacted reporting units immediately before and after the reassignment and determined that no impairment existed. Intangible Assets. Identifiable intangible assets are comprised of the following:
| September 30, 2023 |  | December 31, 2022
(dollars in millions) | Gross Amount |  | Accumulated Amortization |  | Gross Amount |  | Accumulated Amortization
Amortized: |  |  |  |  |  |  |
Collaboration assets | $ | 5,742 |  |  | $ | (1,621) |  |  | $ | 5,536 |  |  | $ | (1,408) |
Exclusivity assets | 3,290 |  |  | (344) |  |  | 2,911 |  |  | (323) |
Developed technology and other | 1,212 |  |  | (608) |  |  | 1,202 |  |  | (544) |
Customer relationships | 29,830 |  |  | (10,282) |  |  | 29,775 |  |  | (8,967) |
| 40,074 |  |  | (12,855) |  |  | 39,424 |  |  | (11,242) |
Indefinite-lived: |  |  |  |  |  |  |
Trademarks and other | 8,646 |  |  | — |  |  | 8,641 |  |  | — |
Total | $ | 48,720 |  |  | $ | (12,855) |  |  | $ | 48,065 |  |  | $ | (11,242) |
Amortization of intangible assets for the quarters and nine months ended September 30, 2023 and 2022 was $545 million and $1,564 million and $497 million and $1,451 million, respectively. The following is the expected amortization of intangible assets for the remainder of 2023 through 2028:
(dollars in millions) |  | Remaining 2023 |  | 2024 |  | 2025 |  | 2026 |  | 2027 |  | 2028
Amortization expense |  | $ | 449 |  |  | $ | 2,195 |  |  | $ | 2,102 |  |  | $ | 2,025 |  |  | $ | 1,905 |  |  | $ | 1,803 |

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