v3.26.1
Goodwill and Intangible Assets
 6 Months Ended
Jun. 30, 2026
Intangible Asset, Goodwill and Other [Abstract]  
Goodwill and Intangible Assets
Note 3: Goodwill and Intangible Assets
Goodwill. Changes in our goodwill balances for the six months ended June 30, 2026 were as follows:
(dollars in millions)Balance as of December 31, 2025Acquisitions and Divestitures Foreign Currency Translation and Other
Balance as of June 30, 2026
Collins Aerospace$32,776 $— $(222)$32,554 
Pratt & Whitney1,563 14 — 1,577 
Raytheon (1)
18,987 (207)— 18,780 
Total Segments53,326 (193)(222)52,911 
Eliminations and other17 — — 17 
Total$53,343 $(193)$(222)$52,928 
1)    The reduction related to Acquisitions and Divestitures includes the reclassification of goodwill to assets held for sale and presented in Other assets, current within the Condensed Consolidated Balance Sheet.
Intangible Assets. Identifiable intangible assets are comprised of the following:
 June 30, 2026December 31, 2025
(dollars in millions)Gross AmountAccumulated AmortizationGross AmountAccumulated Amortization
Amortized:
Collaboration assets$6,292 $(2,539)$6,234 $(2,374)
Exclusivity assets4,167 (276)3,980 (258)
Developed technology and other1,123 (752)1,192 (758)
Customer relationships29,226 (14,664)29,338 (13,989)
40,808 (18,231)40,744 (17,379)
Indefinite-lived:
Trademarks and other8,466 — 8,480 — 
Total$49,274 $(18,231)$49,224 $(17,379)
Amortization of intangible assets for the quarters and six months ended June 30, 2026 and 2025 was $494 million and $988 million and $508 million and $1,009 million, respectively. The following is the expected amortization of intangible assets for the remainder of 2026 through 2031: 
(dollars in millions)Remaining 202620272028202920302031
Amortization expense$983 $1,894 $1,790 $1,618 $1,597 $1,520