XML 25 R13.htm IDEA: XBRL DOCUMENT v3.25.1
GOODWILL AND INTANGIBLE ASSETS
 3 Months Ended
Mar. 31, 2025
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, 2024$7,248 $1,462 $8,710 
Foreign currency impact16 61 77 
Balance at March 31, 2025$7,264 $1,523 $8,787 
As of March 31, 2025 and December 31, 2024, the Company’s trade names had a net carrying amount of $610 million and $595 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 became fully amortized in the first quarter of 2024.
Intangible assets of the Company, other than goodwill and trade names, consist of the following:
 March 31, 2025December 31, 2024
In millionsGross Carrying AmountAccumulated AmortizationNet Carrying AmountGross Carrying AmountAccumulated AmortizationNet Carrying Amount
Backlog$1,309 $(546)$763 $1,415 $(629)$786 
Customer relationships1,347 (505)842 1,329 (480)849 
Acquired technology1,316 (639)677 1,318 (614)704 
Total$3,972 $(1,690)$2,282 $4,062 $(1,723)$2,339 
At March 31, 2025 the weighted average remaining useful lives of backlog, customer relationships and acquired technology were 9 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 $73 million and $74 million for the three months ended March 31, 2025 and 2024, respectively.
Amortization expense for the five succeeding years is estimated to be as follows:
In millions
Remainder of 2025$203 
2026$271 
2027$267 
2028$266 
2029$266