XML 84 R13.htm IDEA: XBRL DOCUMENT
v3.22.2.2

GOODWILL AND INTANGIBLE ASSETS | 9 Months Ended
--- | ---
Sep. 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 | 24 |  |  | (2) |  |  | 22 |
Foreign currency impact | (40) |  |  | (208) |  |  | (248) |
Balance at September 30, 2022 | $ | 7,057 |  |  | $ | 1,304 |  |  | $ | 8,361 |
As of September 30, 2022 and December 31, 2021, the Company’s trade names had a net carrying amount of $568 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 | September 30, 2022 |  | December 31, 2021
Backlog, net of accumulated amortization of $391 and $309 | $ | 1,035 |  |  | $ | 1,114 |
Customer relationships, net of accumulated amortization of $359 and $331 | 904 |  |  | 979 |
Acquired technology, net of accumulated amortization of $412 and $334 | 903 |  |  | 977 |
Total | $ | 2,842 |  |  | $ | 3,070 |
At September 30, 2022 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 $73 million and $218 million for the three and nine months ended September 30, 2022, respectively, and $73 million and $215 million for the three and nine months ended September 30, 2021, respectively. Amortization expense for the five succeeding years is estimated to be as follows:
In millions |
Remainder of 2022 | $ | 73 |
2023 | $ | 291 |
2024 | $ | 282 |
2025 | $ | 265 |
2026 | $ | 261 |

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration