Business Acquisitions. Our acquisitions of businesses and intangible assets, net of cash, totaled $82 million and $40 million in the six months ended June 30, 2025 and 2024, respectively, and were primarily in our Service segment. Transaction costs incurred were not considered significant.

Goodwill. Changes in our Goodwill balance during the six months ended June 30, 2025 were as follows:


(dollars in millions)	Balance as of December 31, 2024		Goodwill Resulting from Business Combinations		Foreign Currency Translation and Other		Balance as of June 30, 2025
New Equipment	$	277	$	—	$	22	$	299
Service	1,271		51		86		1,408
Total	$	1,548	$	51	$	108	$	1,707

Intangible Assets. Intangible assets cost and accumulated amortization were $2,208 million and $1,851 million, respectively, as of June 30, 2025, and $2,006 million and $1,695 million, respectively, as of December 31, 2024.

Amortization of intangible assets for the quarter and six months ended June 30, 2025 was $15 million and $30 million, respectively, compared to $15 million and $31 million for the same periods in 2024. Excluding the impact of acquisitions and currency translation adjustments, there were no other significant changes in our Intangible assets during the quarters and six months ended June 30, 2025 and 2024.

Held For Sale Assets and Liabilities. Assets held for sale were $4 million and $38 million as of June 30, 2025 and December 31, 2024, respectively. Liabilities held for sale were $9 million as of December 31, 2024. There were no liabilities held for sale as of June 30, 2025. These balances are included in Other current assets and Accrued liabilities in the Condensed Consolidated Balance Sheets, respectively.

During the quarter ended June 30, 2025, we sold one of our non-U.S. subsidiaries, primarily in the Service segment. The Company recorded a total pre-tax loss on sale of $28 million, of which $10 million was recorded in the quarter ended March 31, 2025, and $18 million in the quarter ended September 30, 2024, in Other income (expense), net in the Condensed Consolidated Statements of Operations.