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GOODWILL AND INTANGIBLE ASSETS | 6 Months Ended
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Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND INTANGIBLE ASSETS | GOODWILL AND INTANGIBLE ASSETS The change in the carrying amount of goodwill by segment is as follows:
In millions | Freight Segment |  | Transit Segment |  | Total
Balance at December 31, 2021 | $ | 7,073 |  |  | $ | 1,514 |  |  | $ | 8,587 |
Additions/adjustments | 17 |  |  | (2) |  |  | 15 |
Foreign currency impact | (20) |  |  | (123) |  |  | (143) |
Balance at June 30, 2022 | $ | 7,070 |  |  | $ | 1,389 |  |  | $ | 8,459 |
As of June 30, 2022 and December 31, 2021, the Company’s trade names had a net carrying amount of $597 million and $635 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 | June 30, 2022 |  | December 31, 2021
Backlog, net of accumulated amortization of $366 and $309 | $ | 1,065 |  |  | $ | 1,114 |
Customer relationships, net of accumulated amortization of $352 and $331 | 935 |  |  | 979 |
Acquired technology, net of accumulated amortization of $386 and $334 | 934 |  |  | 977 |
Total | $ | 2,934 |  |  | $ | 3,070 |
The weighted average remaining useful lives of backlog, customer relationships and acquired technology were 10 years, 16 years and 9 years, respectively. The backlog intangible asset primarily consists of in-place long-term service agreements acquired by the Company in conjunction with the acquisition of GE Transportation in 2019. Amortization expense for intangible assets was $72 million and $145 million for the three and six months ended June 30, 2022, respectively, and $72 million and $142 million for the three and six months ended June 30, 2021, respectively. Amortization expense for the five succeeding years is estimated to be as follows:
In millions |
Remainder of 2022 | $ | 147 |
2023 | $ | 293 |
2024 | $ | 284 |
2025 | $ | 266 |
2026 | $ | 262 |

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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 https://asc.fasb.org/topic&trid=2144416 + Details
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