v3.25.2
Intangible Assets
6 Months Ended
Jun. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets

6. Intangible Assets

Intangible assets consist of the following:

 

 

(Stated in millions)

 

 

 

Jun. 30, 2025

 

Dec. 31, 2024

 

Gross

 

Accumulated

 

 

Net Book

 

Gross

 

Accumulated

 

 

Net Book

 

Book Value

 

Amortization

 

 

Value

 

Book Value

 

Amortization

 

 

Value

 

Customer relationships

$

1,889

 

$

845

 

$

1,044

 

$

1,887

 

$

799

 

$

1,088

 

Technology/technical know-how

 

1,619

 

 

 

923

 

 

696

 

 

1,588

 

 

872

 

 

716

 

Tradenames

 

795

 

 

317

 

 

478

 

 

795

 

 

299

 

 

496

 

Other

 

1,621

 

 

946

 

 

675

 

 

1,604

 

 

892

 

 

712

 

$

5,924

 

$

3,031

 

$

2,893

 

$

5,874

 

$

2,862

 

$

3,012

 

 

Amortization expense charged to income was as follows:

 

(Stated in millions)

 

 

 

 

 

 

 

 

2025

 

 

2024

 

Second Quarter

$

82

 

$

82

 

Six Months

$

164

 

$

163

 

 

Based on the carrying value of intangible assets at June 30, 2025, amortization expense for the subsequent five years is estimated to be: remaining two quarters of 2025—$162 million; 2026—$316 million; 2027—$312 million; 2028—$302 million; 2029—$289 million; and 2030—$284 million.