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GOODWILL AND OTHER INTANGIBLE ASSETS-NET | 12 Months Ended
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Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND OTHER INTANGIBLE ASSETS-NET | GOODWILL AND OTHER INTANGIBLE ASSETS—NET The following table summarizes the change in the carrying amount of goodwill for the years ended December 31, 2024, and 2023, by reportable business segment:
| Aerospace Technologies |  | Industrial Automation |  | Building Automation |  | Energy and Sustainability Solutions |  | Corporate and All Other |  | Total Goodwill
December 31, 2022 | $ | 2,376 |  |  | $ | 9,183 |  |  | $ | 3,338 |  |  | $ | 1,726 |  |  | $ | 874 |  |  | $ | 17,497 |
Acquisitions | — |  |  | 392 |  |  | — |  |  | — |  |  | — |  |  | 392 |
Currency translation adjustment | 10 |  |  | 75 |  |  | 42 |  |  | 1 |  |  | 32 |  |  | 160 |
December 31, 2023 | 2,386 |  |  | 9,650 |  |  | 3,380 |  |  | 1,727 |  |  | 906 |  |  | 18,049 |
Acquisitions | 660 |  |  | — |  |  | 2,827 |  |  | 876 |  |  | — |  |  | 4,363 |
Currency translation adjustment | (18) |  |  | (75) |  |  | (71) |  |  | (5) |  |  | (7) |  |  | (176) |
Reclassified to Assets held for sale | — |  |  | (411) |  |  | — |  |  | — |  |  | — |  |  | (411) |
December 31, 2024 | $ | 3,028 |  |  | $ | 9,164 |  |  | $ | 6,136 |  |  | $ | 2,598 |  |  | $ | 899 |  |  | $ | 21,825 |
Other intangible assets are comprised of:
| December 31, 2024 |  | December 31, 2023
Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount
Definite-life intangibles |  |  |  |  |  |  |  |  |  |  |
Patents and technology | $ | 3,513 |  |  | $ | (1,849) |  |  | $ | 1,664 |  |  | $ | 2,399 |  |  | $ | (1,837) |  |  | $ | 562 |
Customer relationships | 6,411 |  |  | (2,251) |  |  | 4,160 |  |  | 4,199 |  |  | (2,601) |  |  | 1,598 |
Trademarks | 398 |  |  | (296) |  |  | 102 |  |  | 362 |  |  | (284) |  |  | 78 |
Other | 561 |  |  | (270) |  |  | 291 |  |  | 299 |  |  | (277) |  |  | 22 |
Total definite-life intangibles—net | 10,883 |  |  | (4,666) |  |  | 6,217 |  |  | 7,259 |  |  | (4,999) |  |  | 2,260 |
Indefinite-life intangibles |  |  |  |  |  |  |  |  |  |  |
Trademarks 2 | 439 |  |  | — |  |  | 439 |  |  | 971 |  |  | — |  |  | 971 |
Total Other intangible assets—net 1 | $ | 11,322 |  |  | $ | (4,666) |  |  | $ | 6,656 |  |  | $ | 8,230 |  |  | $ | (4,999) |  |  | $ | 3,231 |
1 |  | As of December 31, 2024, Total Other intangible assets—net excludes net carrying amount of $116 million of customer relationships and net carrying amount of $481 million of indefinite-life trademarks that are included in Assets held for sale in the Consolidated Balance Sheet. Refer to Note 2 Acquisitions, Divestitures, and Assets and Liabilities Held for Sale.
2 |  | An impairment charge of $48 million was recorded on indefinite-lived intangible assets related to the personal protective equipment business during year ended December 31, 2024.
Intangible assets amortization expense includes $415 million, $292 million, and $333 million for the years ended December 31, 2024, 2023, and 2022, respectively. Estimated future intangible asset amortization expense for each of the next five years for intangible assets recorded as of December 31, 2024, is as follows:
| December 31, 2024
2025 | $ | 484 |
2026 | 495 |
2027 | 504 |
2028 | 495 |
2029 | 481 |

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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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