v3.26.1
GOODWILL AND INTANGIBLE ASSETS
6 Months Ended
Jun. 30, 2026
Intangible Asset, Goodwill and Other [Abstract]  
GOODWILL AND INTANGIBLE ASSETS GOODWILL AND INTANGIBLE ASSETS
The change in the carrying amount of goodwill by segment is as follows:
In millionsFreight SegmentTransit SegmentTotal
Balance at December 31, 2025
$8,567 $1,649 $10,216 
Additions/adjustments475 483 
Foreign currency impact(23)(73)(96)
Balance at June 30, 2026
$8,552 $2,051 $10,603 
As of June 30, 2026 and December 31, 2025, the Company’s trade names had a net carrying amount of $897 million and $851 million, respectively. The Company believes these intangibles have indefinite lives.
Intangible assets of the Company, other than goodwill and trade names, consist of the following:
 June 30, 2026December 31, 2025
In millionsGross Carrying AmountAccumulated AmortizationNet Carrying AmountGross Carrying AmountAccumulated AmortizationNet Carrying Amount
Backlog$1,367 $(665)$702 $1,311 $(613)$698 
Customer relationships2,263 (592)1,671 2,000 (550)1,450 
Acquired technology1,664 (812)852 1,570 (731)839 
Total$5,294 $(2,069)$3,225 $4,881 $(1,894)$2,987 
At June 30, 2026, the weighted average remaining useful lives of backlog, customer relationships and acquired technology were 7 years, 17 years and 7 years, respectively. The backlog intangible asset primarily consists of in-place long-term agreements acquired by the Company in conjunction with past acquisitions. Amortization expense for intangible assets was $91 million and $178 million for the three and six months ended June 30, 2026, respectively, and $69 million and $142 million for the three and six months ended June 30, 2025, respectively.
Amortization expense for the five succeeding years is estimated to be as follows:
In millions
Remainder of 2026$179 
2027$356 
2028$354 
2029$352 
2030$339