v3.25.4

GOODWILL AND INTANGIBLE ASSETS | 12 Months Ended
--- | ---
Dec. 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):
|  | ES | MP |  | Aerials |  | Total
Balance at December 31, 2023, gross |  | $ | — |  | $ | 218 |  |  | $ | 139 |  |  | $ | 357 |
Accumulated impairment |  | — |  | (23) |  |  | (39) |  |  | (62) |
Balance at December 31, 2023, net |  | — |  | 195 |  |  | 100 |  |  | 295 |
Acquisitions |  | 803 |  | — |  |  | — |  |  | 803 |
Foreign exchange effect and other |  | — |  | (4) |  |  | (1) |  |  | (5) |
Balance at December 31, 2024, gross |  | 803 |  | 214 |  |  | 138 |  |  | 1,155 |
Accumulated impairment |  | — |  | (23) |  |  | (39) |  |  | (62) |
Balance at December 31, 2024, net |  | 803 |  | 191 |  |  | 99 |  |  | 1,093 |
Acquisitions measurement period adjustments |  | (7) |  | — |  |  | — |  |  | (7) |
Divestiture |  | — |  | (7) |  |  | — |  |  | (7) |
Foreign exchange effect and other |  | — |  | 10 |  |  | 2 |  |  | 12 |
Balance at December 31, 2025, gross |  | 796 |  | 217 |  |  | 140 |  |  | 1,153 |
Accumulated impairment |  | — |  | (23) |  |  | (39) |  |  | (62) |
Balance at December 31, 2025, net |  | $ | 796 |  | $ | 194 |  |  | $ | 101 |  |  | $ | 1,091 |
During the year ended December 31, 2025, the Company recorded a $7 million decrease to goodwill as a measurement period adjustment related to its ESG acquisition. During the year ended December 31, 2024, the Company recognized goodwill of $803 million in connection with the ESG acquisition based on the preliminary purchase price allocation. During the year ended December 31, 2023, the Company recognized goodwill of $2 million in connection with the MARCO acquisition. The goodwill associated with these transactions was attributable primarily to the assembled workforce and expected synergies from the business combinations. The goodwill in connection with the ESG acquisition is assigned to ES segment. The goodwill in connection with the MARCO acquisition is assigned to the MP segment. The goodwill recognized for ESG and MARCO is expected to be deductible for income tax purposes. See Note D – “Acquisitions and Divestitures” for additional information regarding the acquisitions. Intangible assets, net were comprised of the following (in millions):
|  |  | December 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 |  | $ | 153 |  |  | $ | (19) |  |  | $ | 134 |  |  | $ | 159 |  |  | $ | (12) |  |  | $ | 147 |
Customer relationships | 15 |  | 860 |  |  | (103) |  |  | 757 |  |  | 858 |  |  | (44) |  |  | 814 |
Trade names | 14 |  | 153 |  |  | (21) |  |  | 132 |  |  | 152 |  |  | (10) |  |  | 142 |
Land use rights | 78 |  | 4 |  |  | (1) |  |  | 3 |  |  | 4 |  |  | (1) |  |  | 3 |
Other | 9 |  | 17 |  |  | (16) |  |  | 1 |  |  | 18 |  |  | (17) |  |  | 1 |
Total definite-lived intangible assets |  |  | $ | 1,187 |  |  | $ | (160) |  |  | $ | 1,027 |  |  | $ | 1,191 |  |  | $ | (84) |  |  | $ | 1,107 |
During the year ended December 31, 2024, the Company recognized total definite-lived intangible assets of $1,114 million including customer relationships, trade names and technology in connection with the ESG acquisition. See Note D – “Acquisitions and Divestitures” for additional information regarding the intangible assets recognized upon completion of the purchase price accounting in 2025. See Note D – “Acquisitions and Divestitures” for additional information regarding these acquisitions.
| For the Year Ended December 31,
(in millions) | 2025 |  | 2024 |  | 2023
Aggregate Amortization Expense | $ | 82 |  |  | $ | 21 |  |  | $ | 3 |
Estimated aggregate intangible asset amortization expense for each of the next five years is as follows (in millions):
2026 |  | $ | 82 |
2027 |  | 81 |
2028 |  | 81 |
2029 |  | 80 |
2030 |  | 80 |

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for goodwill. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 24 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482548/350-20-55-24 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482573/350-20-50-6 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482573/350-20-50-6 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482573/350-20-50-5 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482573/350-20-50-4 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 3A -Publisher FASB -URI https://asc.fasb.org/1943274/2147482573/350-20-50-3A Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482573/350-20-50-2 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482573/350-20-50-1 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
Name: | us-gaap_GoodwillDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration