Goodwill and Intangible Assets

9 Months Ended

Sep. 30, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Note 3: Goodwill and Intangible Assets

Goodwill. Changes in our goodwill balances for the nine months ended September 30, 2025 were as follows:


(dollars in millions)	Balance as of December 31, 2024		Acquisitions and Divestitures		Foreign Currency Translation and Other		Balance as of September 30, 2025
Collins Aerospace (1)	$	32,223	$	(256)	$	777	$	32,744
Pratt & Whitney	1,563		—		—		1,563
Raytheon	18,986		—		1		18,987
Total Segments	52,772		(256)		778		53,294
Eliminations and other	17		—		—		17
Total	$	52,789	$	(256)	$	778	$	53,311

(1) The reduction related to Acquisitions and Divestitures includes the reclassification of goodwill to assets held for sale and presented in Other assets within the Condensed Consolidated Balance Sheet.

Intangible Assets. Identifiable intangible assets are comprised of the following:


	September 30, 2025				December 31, 2024
(dollars in millions)	Gross Amount		Accumulated Amortization		Gross Amount		Accumulated Amortization
Amortized:


Collaboration assets	$	6,203	$	(2,239)	$	6,159	$	(1,996)
Exclusivity assets	3,872		(251)		3,692		(361)
Developed technology and other	1,186		(739)		1,197		(698)
Customer relationships	29,333		(13,581)		29,388		(12,401)
	40,594		(16,810)		40,436		(15,456)
Indefinite-lived:
Trademarks and other	8,476		—		8,463		—
Total	$	49,070	$	(16,810)	$	48,899	$	(15,456)

Amortization of intangible assets for the quarters and nine months ended September 30, 2025 and 2024 was $520 million and $1,529 million and $560 million and $1,620 million, respectively. The following is the expected amortization of intangible assets for the remainder of 2025 through 2030:


(dollars in millions)	Remaining 2025		2026		2027		2028		2029		2030
Amortization expense	$	545	$	1,991	$	1,897	$	1,810	$	1,682	$	1,644