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GOODWILL AND INTANGIBLE ASSETS | 6 Months Ended
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Jun. 30, 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 millions | Freight Segment |  | Transit Segment |  | Total
Balance at December 31, 2024 | $ | 7,248 |  |  | $ | 1,462 |  |  | $ | 8,710 |
Additions/adjustments | 14 |  |  | — |  |  | 14 |
Foreign currency impact | 29 |  |  | 183 |  |  | 212 |
Balance at June 30, 2025 | $ | 7,291 |  |  | $ | 1,645 |  |  | $ | 8,936 |
As of June 30, 2025 and December 31, 2024, the Company’s trade names had a net carrying amount of $646 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:
|  | June 30, 2025 |  | December 31, 2024
In millions |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount
Backlog |  | $ | 1,310 |  |  | $ | (568) |  |  | $ | 742 |  |  | $ | 1,415 |  |  | $ | (629) |  |  | $ | 786 |
Customer relationships |  | 1,379 |  |  | (532) |  |  | 847 |  |  | 1,329 |  |  | (480) |  |  | 849 |
Acquired technology |  | 1,321 |  |  | (667) |  |  | 654 |  |  | 1,318 |  |  | (614) |  |  | 704 |
Total |  | $ | 4,010 |  |  | $ | (1,767) |  |  | $ | 2,243 |  |  | $ | 4,062 |  |  | $ | (1,723) |  |  | $ | 2,339 |
At June 30, 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 $69 million and $142 million for the three and six months ended June 30, 2025, respectively, and $71 million and $145 million for the three and six months ended June 30, 2024, respectively. Amortization expense for the five succeeding years is estimated to be as follows:
In millions |
Remainder of 2025 | $ | 137 |
2026 | $ | 272 |
2027 | $ | 268 |
2028 | $ | 266 |
2029 | $ | 264 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
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