| Reconciliation of the change in goodwill |
Reconciliations of the changes in the carrying value of goodwill during 2025 and 2024 follow (in millions).
|
|
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|
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|
December 31, |
|
|
|
2025 |
|
|
2024 |
|
Balance at the beginning of the year* |
|
$ |
83,880 |
|
|
$ |
84,626 |
|
Business acquisitions |
|
|
459 |
|
|
|
87 |
|
Other, including impairments and foreign currency translation |
|
|
(1,265 |
) |
|
|
(833 |
) |
Balance at the end of the year* |
|
$ |
83,074 |
|
|
$ |
83,880 |
|
—————— * Net of accumulated goodwill impairments of $13.0 billion as of December 31, 2025, $11.5 billion as of December 31, 2024 and $11.1 billion as of December 31, 2023.
|
| Schedule of intangible assets |
Other intangible assets are summarized below (in millions).
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|
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|
December 31, 2025 |
|
|
December 31, 2024 |
|
|
Gross
carrying
amount |
|
Accumulated
amortization |
|
Net
carrying
value |
|
|
Gross
carrying
amount |
|
Accumulated
amortization |
|
Net
carrying
value |
|
Insurance and other: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Customer relationships |
$ |
31,215 |
|
$ |
9,638 |
|
$ |
21,577 |
|
|
$ |
30,941 |
|
$ |
8,840 |
|
$ |
22,101 |
|
Trademarks and trade names |
|
9,007 |
|
|
1,143 |
|
|
7,864 |
|
|
|
9,007 |
|
|
1,041 |
|
|
7,966 |
|
Patents and technology |
|
5,237 |
|
|
4,196 |
|
|
1,041 |
|
|
|
5,375 |
|
|
4,359 |
|
|
1,016 |
|
Other |
|
5,608 |
|
|
2,288 |
|
|
3,320 |
|
|
|
5,551 |
|
|
1,996 |
|
|
3,555 |
|
|
$ |
51,067 |
|
$ |
17,265 |
|
$ |
33,802 |
|
|
$ |
50,874 |
|
$ |
16,236 |
|
$ |
34,638 |
|
Railroad, utilities and energy:* |
|
|
|
|
|
|
|
|
|
|
|
|
|
Customer relationships and contracts |
$ |
1,541 |
|
$ |
809 |
|
$ |
732 |
|
|
$ |
1,553 |
|
$ |
728 |
|
$ |
825 |
|
Other |
|
442 |
|
|
134 |
|
|
308 |
|
|
|
437 |
|
|
126 |
|
|
311 |
|
|
$ |
1,983 |
|
$ |
943 |
|
$ |
1,040 |
|
|
$ |
1,990 |
|
$ |
854 |
|
$ |
1,136 |
|
—————— * Included in other assets. I
|