v3.25.4
Goodwill and Intangible Assets (Tables)
 12 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill Identified, by Segment

Goodwill is identified by segment as follows (in millions):

 

Energy Products and Services

 

 

Energy Equipment

 

 

Total

 

Balance at December 31, 2023

 

$

746

 

 

$

816

 

 

$

1,562

 

Goodwill acquired during period

 

 

70

 

 

 

—

 

 

 

70

 

Adjustment during the measurement period of assets acquired

 

 

(2

)

 

 

—

 

 

 

(2

)

Balance at December 31, 2024

 

$

814

 

 

$

816

 

 

$

1,630

 

Adjustment during the measurement period of assets acquired

 

 

(11

)

 

 

—

 

 

 

(11

)

Reclassification between segments

 

 

(2

)

 

 

2

 

 

 

—

 

Impairment

 

 

—

 

 

 

(40

)

 

 

(40

)

Currency translation adjustments and other

 

 

4

 

 

 

(1

)

 

 

3

 

Balance at December 31, 2025 (1)

 

$

805

 

 

$

777

 

 

$

1,582

 

 

(1)
Accumulated goodwill impairment was $7,301 million as of December 31, 2025.
Identified Intangible Assets, by Segment

The net book values of identified intangible assets are identified by segment as follows (in millions):

 

Energy Products and Services

 

 

Energy Equipment

 

 

Total

 

Balance at December 31, 2023

 

$

299

 

 

$

151

 

 

$

450

 

Additions to intangible assets

 

 

1

 

 

 

6

 

 

 

7

 

Intangible assets acquired

 

 

102

 

 

 

—

 

 

 

102

 

Amortization

 

 

(28

)

 

 

(21

)

 

 

(49

)

Currency translation adjustments and other

 

 

—

 

 

 

(2

)

 

 

(2

)

Balance at December 31, 2024

 

$

374

 

 

$

134

 

 

$

508

 

Additions to intangible assets

 

 

1

 

 

 

5

 

 

 

6

 

Adjustment during the measurement period of assets acquired

 

 

11

 

 

 

—

 

 

 

11

 

Reclassification between segments

 

 

(32

)

 

 

32

 

 

 

—

 

Write-offs

 

 

—

 

 

 

(18

)

 

 

(18

)

Amortization

 

 

(33

)

 

 

(22

)

 

 

(55

)

Currency translation adjustments and other

 

 

—

 

 

 

3

 

 

 

3

 

Balance at December 31, 2025

 

$

321

 

 

$

134

 

 

$

455

 

 
Identified Intangible Assets, by Major Classification

Identified intangible assets by major classification consist of the following (in millions):

 

 

Gross

 

 

Accumulated
Amortization

 

 

Net Book Value

 

December 31, 2024:

 

 

 

 

 

 

 

 

 

Customer relationships

 

$

531

 

 

$

(388

)

 

$

143

 

Trademarks

 

 

194

 

 

 

(139

)

 

 

55

 

Patents

 

 

153

 

 

 

(85

)

 

 

68

 

Indefinite-lived trade names

 

 

196

 

 

 

—

 

 

 

196

 

Other

 

 

125

 

 

 

(79

)

 

 

46

 

Total identified intangibles

 

$

1,199

 

 

$

(691

)

 

$

508

 

December 31, 2025:

 

 

 

 

 

 

 

 

 

Customer relationships

 

$

546

 

 

$

(414

)

 

$

132

 

Trademarks

 

 

180

 

 

 

(137

)

 

 

43

 

Patents

 

 

128

 

 

 

(81

)

 

 

47

 

Indefinite-lived trade names

 

 

196

 

 

 

—

 

 

 

196

 

Other

 

 

126

 

 

 

(89

)

 

 

37

 

Total identified intangibles

 

$

1,176

 

 

$

(721

)

 

$

455