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Goodwill and Intangible Assets (Tables) | 9 Months Ended
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Sep. 30, 2024
Goodwill [Line Items] |
Schedule of Goodwill | Changes in our goodwill balances for the nine months ended September 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 September 30, 2024
Collins Aerospace (1) | $ | 33,135 |  |  | $ | (264) |  |  |  |  | $ | 321 |  |  | $ | 33,192 |
Pratt & Whitney | 1,563 |  |  | — |  |  |  |  | — |  |  | 1,563 |
Raytheon | 18,984 |  |  | — |  |  |  |  | 3 |  |  | 18,987 |
Total Segments | 53,682 |  |  | (264) |  |  |  |  | 324 |  |  | 53,742 |
Eliminations and other | 17 |  |  | — |  |  |  |  | — |  |  | 17 |
Total | $ | 53,699 |  |  | $ | (264) |  |  |  |  | $ | 324 |  |  | $ | 53,759 |
(1) The reduction in Acquisitions and Divestitures includes the reclassification of goodwill to held for sale assets.
Schedule of Intangible Assets and Indefinite-Lived Intangible Assets | Identifiable intangible assets are comprised of the following:
| September 30, 2024 |  | December 31, 2023
(dollars in millions) | Gross Amount |  | Accumulated Amortization |  | Gross Amount |  | Accumulated Amortization
Amortized: |  |  |  |  |  |  |
Collaboration assets | $ | 6,004 |  |  | $ | (1,910) |  |  | $ | 5,810 |  |  | $ | (1,688) |
Exclusivity assets | 3,665 |  |  | (378) |  |  | 3,460 |  |  | (352) |
Developed technology and other | 1,213 |  |  | (699) |  |  | 1,219 |  |  | (635) |
Customer relationships | 29,606 |  |  | (12,024) |  |  | 29,605 |  |  | (10,683) |
| 40,488 |  |  | (15,011) |  |  | 40,094 |  |  | (13,358) |
Indefinite-lived: |  |  |  |  |  |  |
Trademarks and other | 8,682 |  |  | — |  |  | 8,663 |  |  | — |
Total | $ | 49,170 |  |  | $ | (15,011) |  |  | $ | 48,757 |  |  | $ | (13,358) |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense | 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 |  | $ | 550 |  |  | $ | 2,107 |  |  | $ | 2,024 |  |  | $ | 1,908 |  |  | $ | 1,824 |  |  | $ | 1,642 |

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