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GOODWILL AND INTANGIBLE ASSETS | 3 Months Ended
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Mar. 31, 2023
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, 2022 | $ | 7,085 |  |  | $ | 1,423 |  |  | $ | 8,508 |
Additions/adjustments | 7 |  |  | — |  |  | 7 |
Foreign currency impact | 8 |  |  | 17 |  |  | 25 |
Balance at March 31, 2023 | $ | 7,100 |  |  | $ | 1,440 |  |  | $ | 8,540 |
As of March 31, 2023 and December 31, 2022, the Company’s trade names had a net carrying amount of $603 million and $602 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:
|  | March 31, 2023 |  | December 31, 2022
In millions |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount
Backlog |  | $ | 1,427 |  |  | $ | (443) |  |  | $ | 984 |  |  | $ | 1,425 |  |  | $ | (415) |  |  | $ | 1,010 |
Customer relationships |  | 1,277 |  |  | (382) |  |  | 895 |  |  | 1,274 |  |  | (362) |  |  | 912 |
Acquired technology |  | 1,272 |  |  | (421) |  |  | 851 |  |  | 1,273 |  |  | (395) |  |  | 878 |
Total |  | $ | 3,976 |  |  | $ | (1,246) |  |  | $ | 2,730 |  |  | $ | 3,972 |  |  | $ | (1,172) |  |  | $ | 2,800 |
At March 31, 2023 the weighted average remaining useful lives of backlog, customer relationships and acquired technology were 9 years, 16 years and 8 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. Amortization expense for intangible assets was $75 million and $73 million for the three months ended March 31, 2023 and 2022, respectively. Amortization expense for the five succeeding years is estimated to be as follows:
In millions |
Remainder of 2023 | $ | 219 |
2024 | $ | 283 |
2025 | $ | 266 |
2026 | $ | 262 |
2027 | $ | 257 |

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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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