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BUSINESS ACQUISITIONS, DISPOSITIONS, GOODWILL AND INTANGIBLE ASSETS

3 Months Ended

Mar. 31, 2020

Business Acquisitions and Dispositions. There were no significant acquisitions or divestitures during the quarters ended March 31, 2020 and 2019.

Goodwill. The changes in the carrying amount of goodwill are as follows:


(dollars in millions)	HVAC		Refrigeration		Fire & Security		Total
Balance as of January 1, 2020	$	5,351	$	1,228	$	3,305	$	9,884

Foreign currency translation	(204)		(50)		18		(236)
Balance at March 31, 2020	$	5,147	$	1,178	$	3,323	$	9,648

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


	March 31, 2020						December 31, 2019
(dollars in millions)	Gross Amount		Accumulated Amortization		Gross Amount		Accumulated Amortization
Amortized:
Customer relationships	$	1,448	$	(1,142)	$	1,479	$	(1,154)
Patents and trademarks	284		(201)		287		(201)
Monitoring lines	62		(49)		67		(52)
Service portfolios and other	624		(509)		629		(506)
	2,418		(1,901)		2,462		(1,913)
Unamortized:
Trademarks and other	497		—		534		—
Intangible assets, net	$	2,915	$	(1,901)	$	2,996	$	(1,913)

Amortization of Intangible assets was $25 million and $31 million for the quarters ended March 31, 2020 and 2019, respectively.