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Goodwill and Intangible Assets | 6 Months Ended
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Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets | Note 3: Goodwill and Intangible Assets Goodwill. Changes in our goodwill balances for the six months ended June 30, 2024 were as follows:
(dollars in millions) | Balance as of December 31, 2023 |  | Acquisitions and Divestitures |  |  |  | Foreign Currency Translation and Other |  | Balance as of June 30, 2024
Collins Aerospace (1) | $ | 33,135 |  |  | $ | (263) |  |  |  |  | $ | (91) |  |  | $ | 32,781 |
Pratt & Whitney | 1,563 |  |  | — |  |  |  |  | — |  |  | 1,563 |
Raytheon | 18,984 |  |  | — |  |  |  |  | 2 |  |  | 18,986 |
Total Segments | 53,682 |  |  | (263) |  |  |  |  | (89) |  |  | 53,330 |
Eliminations and other | 17 |  |  | — |  |  |  |  | — |  |  | 17 |
Total | $ | 53,699 |  |  | $ | (263) |  |  |  |  | $ | (89) |  |  | $ | 53,347 |
(1) The reduction in Acquisitions and Divestitures includes the reclassification of goodwill to held for sale assets. Intangible Assets. Identifiable intangible assets are comprised of the following:
| June 30, 2024 |  | December 31, 2023
(dollars in millions) | Gross Amount |  | Accumulated Amortization |  | Gross Amount |  | Accumulated Amortization
Amortized: |  |  |  |  |  |  |
Collaboration assets | $ | 5,947 |  |  | $ | (1,816) |  |  | $ | 5,810 |  |  | $ | (1,688) |
Exclusivity assets | 3,581 |  |  | (365) |  |  | 3,460 |  |  | (352) |
Developed technology and other | 1,203 |  |  | (670) |  |  | 1,219 |  |  | (635) |
Customer relationships | 29,516 |  |  | (11,547) |  |  | 29,605 |  |  | (10,683) |
| 40,247 |  |  | (14,398) |  |  | 40,094 |  |  | (13,358) |
Indefinite-lived: |  |  |  |  |  |  |
Trademarks and other | 8,654 |  |  | — |  |  | 8,663 |  |  | — |
Total | $ | 48,901 |  |  | $ | (14,398) |  |  | $ | 48,757 |  |  | $ | (13,358) |
Amortization of intangible assets for the quarters and six months ended June 30, 2024 and 2023 was $534 million and $1,060 million and $510 million and $1,019 million, respectively. The following is the expected amortization of intangible assets for the remainder of 2024 through 2029:
(dollars in millions) |  | Remaining 2024 |  | 2025 |  | 2026 |  | 2027 |  | 2028 |  | 2029
Amortization expense |  | $ | 1,157 |  |  | $ | 2,074 |  |  | $ | 1,993 |  |  | $ | 1,878 |  |  | $ | 1,795 |  |  | $ | 1,616 |

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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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