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Goodwill and Intangible Assets (Tables) | 12 Months Ended
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Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of Goodwill | Changes in our goodwill balances for the year ended December 31, 2024 were as follows:
(dollars in millions) | Balance as of December 31, 2023 |  | Acquisitions and Divestitures |  | Foreign Currency Translation and Other |  | Balance as of December 31, 2024 |  |
Collins Aerospace (1) | $ | 33,135 |  |  | $ | (676) |  |  | $ | (236) |  |  | $ | 32,223 |  |  |
Pratt & Whitney | 1,563 |  |  | — |  |  | — |  |  | 1,563 |  |  |
Raytheon | 18,984 |  |  | — |  |  | 2 |  |  | 18,986 |  |  |
Total Segments | 53,682 |  |  | (676) |  |  | (234) |  |  | 52,772 |  |  |
Eliminations and other | 17 |  |  | — |  |  | — |  |  | 17 |  |  |
Total | $ | 53,699 |  |  | $ | (676) |  |  | $ | (234) |  |  | $ | 52,789 |  |  |
(1) The reduction in Acquisitions and Divestitures includes the reclassification of goodwill to held for sale assets.
Schedule of Finite-Lived Intangible Assets | Identifiable intangible assets are comprised of the following:
| 2024 |  | 2023
(dollars in millions) | Gross Amount |  | Accumulated Amortization |  | Gross Amount |  | Accumulated Amortization
Amortized: |  |  |  |  |  |  |
Collaboration assets | $ | 6,159 |  |  | $ | (1,996) |  |  | $ | 5,810 |  |  | $ | (1,688) |
Exclusivity assets | 3,692 |  |  | (361) |  |  | 3,460 |  |  | (352) |
Developed technology and other | 1,197 |  |  | (698) |  |  | 1,219 |  |  | (635) |
Customer relationships | 29,388 |  |  | (12,401) |  |  | 29,605 |  |  | (10,683) |
| 40,436 |  |  | (15,456) |  |  | 40,094 |  |  | (13,358) |
Indefinite-lived: |  |  |  |  |  |  |
Trademarks and other | 8,463 |  |  | — |  |  | 8,663 |  |  | — |
Total | $ | 48,899 |  |  | $ | (15,456) |  |  | $ | 48,757 |  |  | $ | (13,358) |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense | The following is the expected amortization of intangible assets for 2025 through 2029:
(dollars in millions) | 2025 |  | 2026 |  | 2027 |  | 2028 |  | 2029
Amortization expense | $2,104 |  | $2,028 |  | $1,914 |  | $1,838 |  | $1,701

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