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GOODWILL AND INTANGIBLE ASSETS | 3 Months Ended
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Mar. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND INTANGIBLE ASSETS | GOODWILL AND INTANGIBLE ASSETS An analysis of changes in the Company’s goodwill by business segment is as follows (in millions):
| MP |  | Aerials |  | ES |  | Total
Balance at December 31, 2024, gross | $ | 214 |  |  | $ | 138 |  |  | 803 |  |  | $ | 1,155 |
Accumulated impairment | (23) |  |  | (39) |  |  | — |  |  | (62) |
Balance at December 31, 2024, net | 191 |  |  | 99 |  |  | 803 |  |  | $ | 1,093 |
Foreign exchange effect and other | 3 |  |  | 1 |  |  | (11) |  |  | (7) |
Balance at March 31, 2025, gross | 217 |  |  | 139 |  |  | 792 |  |  | 1,148 |
Accumulated impairment | (23) |  |  | (39) |  |  | — |  |  | (62) |
Balance at March 31, 2025, net | $ | 194 |  |  | $ | 100 |  |  | $ | 792 |  |  | $ | 1,086 |
Intangible assets, net were comprised of the following (in millions):
|  |  | March 31, 2025 |  | December 31, 2024
| Weighted Average Life (in years) |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount
Definite-lived intangible assets: |  |  |  |  |  |  |  |  |  |  |  |  |
Technology | 12 |  | $ | 159 |  |  | $ | (15) |  |  | $ | 144 |  |  | $ | 159 |  |  | $ | (12) |  |  | $ | 147 |
Customer relationships | 15 |  | 859 |  |  | (58) |  |  | 801 |  |  | 858 |  |  | (44) |  |  | 814 |
Trade names | 14 |  | 152 |  |  | (13) |  |  | 139 |  |  | 152 |  |  | (10) |  |  | 142 |
Land use rights | 80 |  | 4 |  |  | (1) |  |  | 3 |  |  | 4 |  |  | (1) |  |  | 3 |
Other | 10 |  | 18 |  |  | (17) |  |  | 1 |  |  | 18 |  |  | (17) |  |  | 1 |
Total definite-lived intangible assets |  |  | $ | 1,192 |  |  | $ | (104) |  |  | $ | 1,088 |  |  | $ | 1,191 |  |  | $ | (84) |  |  | $ | 1,107 |
|  |  | Three Months Ended March 31,
(in millions) |  |  |  |  | 2025 |  | 2024
Aggregate Amortization Expense |  |  |  |  | $ | 20 |  |  | $ | 1 |
Estimated aggregate intangible asset amortization expense for each of the next five years is as follows (in millions):
2025 | $ | 82 |
2026 | 81 |
2027 | 81 |
2028 | 81 |
2029 | 80 |

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