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Intangibles | 9 Months Ended
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Sep. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract] |
Intangibles | INTANGIBLES The change in the carrying amount of goodwill by segment for the nine months ended September 30, 2020 is as follows:
In millions | Freight Segment |  | Transit Segment |  | Total
Balance at December 31, 2019 | $ | 6,876.6 |  |  | $ | 1,484.0 |  |  | $ | 8,360.6 |
Additions / opening balance sheet adjustments | (3.5) |  |  | — |  |  | (3.5) |
Disposals | (5.6) |  |  | — |  |  | (5.6) |
Foreign currency impact | (29.9) |  |  | 44.5 |  |  | 14.6 |
Balance at September 30, 2020 | $ | 6,837.6 |  |  | $ | 1,528.5 |  |  | $ | 8,366.1 |
As of September 30, 2020 and December 31, 2019, the Company’s trade names had a net carrying amount of $627.6 million and $623.1 million, respectively. The Company believes these intangibles have indefinite lives, with the exception of the right to use the GE Transportation trade name, to which the Company has assigned a useful life of 5 years. Intangible assets of the Company, other than goodwill and trade names, consist of the following:
In millions | September 30, 2020 |  | December 31, 2019
Intellectual property, patents, and other intangibles, net of accumulated amortization of $198.2 and $123.8 | $ | 1,032.3 |  |  | $ | 1,108.9 |
Backlog, net of accumulated amortization of $177.7 and $92.0 | 1,248.5 |  |  | 1,342.1 |
Customer relationships, net of accumulated amortization of $254.2 and $212.9 | 981.2 |  |  | 1,029.9 |
Total | $ | 3,262.0 |  |  | $ | 3,480.9 |
The weighted average remaining useful life of backlog, intellectual property, customer relationships and other intangibles were 13 years, 12 years, 17 years and 9 years, respectively. The backlog intangible primarily consists of in-place long-term service agreements acquired by the Company in conjunction with the acquisition of GE Transportation. Amortization expense for intangible assets was $70.3 million and $211.6 million for the three and nine months ended September 30, 2020 and $79.5 million and $172.9 million for the three and nine months ended September 30, 2019, respectively. Amortization expense for the five succeeding years is estimated to be as follows:
In millions |
Remainder of 2020 | $ | 69.5 |
2021 | 277.7 |
2022 | 277.1 |
2023 | 276.7 |
2024 | 267.2 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
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