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Intangible Assets

12 Months Ended

Dec. 31, 2022

Goodwill And Intangible Assets Disclosure [Abstract]

7. Intangible Assets

Intangible assets consist of the following:

	(Stated in millions)

	2022						2021
	Gross		Accumulated		Net Book		Gross		Accumulated		Net Book
	Book Value		Amortization		Value		Book Value		Amortization		Value
Customer Relationships	$	1,680	$	631	$	1,049	$	1,681	$	551	$	1,130
Technology/Technical Know-How		1,280		676		604		1,264		562		702
Tradenames		767		222		545		766		191		575
Other		1,657		863		794		1,578		774		804
	$	5,384	$	2,392	$	2,992	$	5,289	$	2,078	$	3,211

Customer relationships are generally amortized over periods ranging from 18 to 28 years, technology/technical know-how are generally amortized over periods ranging from 10 to 18 years, and tradenames are generally amortized over periods ranging from 15 to 30 years.

Amortization expense was $301 million in 2022, $302 million in 2021, and $371 million in 2020.

Based on the carrying value of intangible assets at December 31, 2022, amortization expense for the subsequent five years is estimated to be as follows: 2023: $289 million, 2024: $281 million, 2025: $265 million, 2026: $260 million and 2027: $253 million.