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GOODWILL AND INTANGIBLE ASSETS
 6 Months Ended
Jun. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND INTANGIBLE ASSETS GOODWILL AND INTANGIBLE ASSETS
The Company records goodwill as the excess of the purchase price over the fair value of the net assets acquired in a business combination. Goodwill is tested and reviewed annually for impairment on July 1 or whenever there is a material change in events or circumstances that indicates that the fair value of the reporting unit may be less than its carrying value.

In connection with its revised segment structure, the Company performed a quantitative goodwill impairment test on its reporting units prior to the reorganization to determine if any impairment existed. The tests did not indicate any goodwill impairment. The Company then reassigned goodwill among its new reporting units using a relative fair value approach. Based on these analyses, the Climate Solutions Europe segment had a fair value of 10% above its carrying value. All other reporting units had fair values substantially in excess of their carrying values. However, there can be no assurances that changes in the macroeconomic environment or business conditions affecting our industry will not occur which could result in goodwill impairment charges in future periods.

The changes in the carrying amount of reassigned goodwill were as follows:

(In millions)Climate Solutions AmericasClimate Solutions EuropeClimate Solutions Asia Pacific, Middle East & AfricaClimate Solutions TransportationTotal
Balance as of December 31, 2024$5,059 $7,035 $1,380 $1,127 $14,601 
Acquisitions— — 7 44 51 
Foreign currency translation4 927 54 35 1,020 
Balance as of June 30, 2025$5,063 $7,962 $1,441 $1,206 $15,672 

Identifiable intangible assets are amortized over their estimated useful lives and consisted of the following:

June 30, 2025December 31, 2024
(In millions)Gross AmountAccumulated AmortizationNet AmountGross AmountAccumulated AmortizationNet Amount
Customer relationships$6,239 $(1,351)$4,888 $5,607 $(939)$4,668 
Patents and trademarks982 (188)794 885 (147)738 
Service portfolios and other1,715 (627)1,088 1,530 (504)1,026 
Total intangible assets$8,936 $(2,166)$6,770 $8,022 $(1,590)$6,432 
Amortization of intangible assets was as follows:

Three Months Ended
 June 30,		Six Months Ended
June 30,
(In millions)2025202420252024
Amortization expense of Intangible assets$221 $208 $429 $419