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GOODWILL AND INTANGIBLE ASSETS
 9 Months Ended
Sep. 30, 2024
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 millionsFreight SegmentTransit SegmentTotal
Balance at December 31, 2023$7,294 $1,486 $8,780 
Additions/adjustments9 — 9 
Foreign currency impact(23)20 (3)
Balance at September 30, 2024$7,280 $1,506 $8,786 
As of September 30, 2024 and December 31, 2023, the Company’s trade names had a net carrying amount of $619 million and $612 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 had assigned a useful life of 5 years and has been fully amortized.
Intangible assets of the Company, other than goodwill and trade names, consist of the following:
 September 30, 2024December 31, 2023
In millionsGross Carrying AmountAccumulated AmortizationNet Carrying AmountGross Carrying AmountAccumulated AmortizationNet Carrying Amount
Backlog$1,433 $(605)$828 $1,431 $(526)$905 
Customer relationships1,322 (481)841 1,333 (431)902 
Acquired technology1,296 (588)708 1,283 (497)786 
Total$4,051 $(1,674)$2,377 $4,047 $(1,454)$2,593 
At September 30, 2024 the weighted average remaining useful lives of backlog, customer relationships and acquired technology were 7 years, 14 years and 6 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 $79 million and $224 million for the three and nine months ended September 30, 2024, respectively, and $74 million and $222 million for the three and nine months ended September 30, 2023, respectively.
Amortization expense for the five succeeding years is estimated to be as follows:
In millions
Remainder of 2024$70 
2025$272 
2026$267 
2027$262 
2028$261