GOODWILL AND INTANGIBLE ASSETS

12 Months Ended

Sep. 30, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

The following is a summary of changes in the carrying value of goodwill by segment for the fiscal years ended September 30, 2024 and 2025 (in millions):


	Power & Control		Airframe		Non-aviation		Total
Balance at September 30, 2023	$	4,208	$	4,701	$	79	$	8,988
Goodwill acquired during the period	786		563		—		1,349
Purchase price allocation adjustments (1)	—		35		—		35
Currency translation adjustments and other	40		7		—		47
Balance at September 30, 2024	5,034		5,306		79		10,419
Goodwill acquired during the period	189		13		—		202
Purchase price allocation adjustments (2)	18		(56)		—		(38)
Currency translation adjustments and other	32		(3)		—		29
Balance at September 30, 2025	$	5,273	$	5,260	$	79	$	10,612

(1)Primarily related to the opening balance sheet adjustments recorded from the fiscal 2023 acquisition of Calspan Corporation within the allowable measurement period (not to exceed one year).

(2)Primarily related to the opening balance sheet adjustments recorded from the acquisition of Raptor Scientific (Airframe) completed during the fourth quarter of fiscal 2024 and CPI's Electron Device Business (Power & Control) completed during the third quarter of fiscal 2024, within the allowable measurement period (not to exceed one year).

Other intangible assets–net in the consolidated balance sheets consist of the following at September 30 (in millions):


	2025						2024
	Gross Carrying Amount		Accumulated Amortization		Net		Gross Carrying Amount		Accumulated Amortization		Net
Trademarks and trade names	$	1,162	$	—	$	1,162	$	1,165	$	—	$	1,165
Technology	2,647		1,137		1,510		2,510		1,003		1,507
Order backlog	59		28		31		61		13		48
Customer relationships	971		225		746		895		175		720
Other	12		7		5		12		6		6
Total	$	4,851	$	1,397	$	3,454	$	4,643	$	1,197	$	3,446

The estimated fair value of the net identifiable tangible and intangible assets acquired is based on the acquisition method of accounting. The fair value of the net identifiable tangible and intangible assets acquired will be finalized within the measurement period (not to exceed one year). Intangible assets acquired during the fiscal year ended September 30, 2025 are summarized in the table below (in millions):


	Gross Amount		Amortization Period
Intangible assets not subject to amortization:
Trademarks and trade names	$	11

Intangible assets subject to amortization:
Technology & Other	71		10 to 20 years
Order backlog	17		1 year
Customer relationships	37		10 to 20 years
	125

Total	$	136

Information regarding the amortization expense of amortizable intangible assets is detailed below (in millions):

Annual Amortization Expense:


Fiscal Years Ended September 30,
2025	$	201
2024	161
2023	139

Estimated Amortization Expense:


Fiscal Years Ended September 30,
2026	$	203
2027	187
2028	179
2029	178
2030	170