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Intangible Assets | 12 Months Ended
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Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Intangible Assets | 8. Intangible Assets Intangible assets consist of the following:
| (Stated in millions) |
| 2024 |  |  | 2023 |
| Gross |  |  | Accumulated |  |  | Net Book |  |  | Gross |  |  | Accumulated |  |  | Net Book |
| Book Value |  |  | Amortization |  |  | Value |  |  | Book Value |  |  | Amortization |  |  | Value |
Customer relationships | $ | 1,887 |  |  | $ | 799 |  |  | $ | 1,088 |  |  | $ | 1,887 |  |  | $ | 709 |  |  | $ | 1,178 |
Technology/technical know-how |  | 1,588 |  |  |  | 872 |  |  |  | 716 |  |  |  | 1,516 |  |  |  | 770 |  |  |  | 746 |
Trade names |  | 795 |  |  |  | 299 |  |  |  | 496 |  |  |  | 795 |  |  |  | 265 |  |  |  | 530 |
Other |  | 1,604 |  |  |  | 892 |  |  |  | 712 |  |  |  | 1,582 |  |  |  | 797 |  |  |  | 785 |
| $ | 5,874 |  |  | $ | 2,862 |  |  | $ | 3,012 |  |  | $ | 5,780 |  |  | $ | 2,541 |  |  | $ | 3,239 |
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 trade names are generally amortized over periods ranging from 15 to 30 years. Amortization expense was $334 million in 2024, $314 million in 2023, and $301 million in 2022. Based on the carrying value of intangible assets at December 31, 2024, amortization expense for the subsequent five years is estimated to be as follows: 2025: $322 million, 2026: $312 million, 2027: $308 million, 2028: $298 million and 2029: $285 million.

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