XML 27 R9.htm IDEA: XBRL DOCUMENT v3.25.0.1

Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 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 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.

The Company reviews goodwill for impairment annually or more frequently if events or changes in circumstances indicate the asset might be impaired.

We completed our annual goodwill impairment testing as of October 1, 2024 and determined that no adjustments to the carrying value of goodwill were necessary. We assessed all of our reporting units using qualitative factors to determine whether it was more likely than not that any individual reporting unit’s fair value is less than its carrying value (step 0) and determined that no further testing was required.

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)

We also completed our annual indefinite-lived intangible assets impairment testing using a qualitative approach as of October 1, 2024 and determined that no adjustments to the carrying value of these assets were necessary.

Amortization of intangible assets was $2.2 billion, $2.1 billion, and $2.0 billion in 2024, 2023, and 2022, respectively. 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

X

- References

No definition available.

+ Details

Name:	us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- 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

Name:	us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration