Business Acquisitions. Our acquisitions of businesses and intangible assets, net of cash, totaled $193 million and $82 million in the six months ended June 30, 2026 and 2025, respectively, and were primarily in our Service segment. Transaction costs incurred were not considered significant.

In April 2026, we acquired the majority ownership of a French company, a provider of elevator maintenance, repair, modernization and digital services for $170 million funded by cash on hand and commercial paper borrowings. The entity is included in our Service segment. The acquisition supports growth in the Service segment and expands our maintenance portfolio. We recorded approximately $142 million of Goodwill, $64 million of Intangible assets and $33 million of Redeemable noncontrolling interest.

The preliminary purchase price allocation for the acquisition is not yet finalized. Accordingly, adjustments may be made to the values of the assets acquired and liabilities assumed as additional information is obtained about the facts and circumstances that existed at the valuation date.

Goodwill. Changes in our Goodwill balance during the six months ended June 30, 2026 were as follows:


(dollars in millions)	Balance as of December 31, 2025		Goodwill Resulting from Business Combinations		Foreign Currency Translation and Other		Balance as of June 30, 2026
New Equipment	$	294	$	—	$	(9)	$	285
Service	1,401		145		(37)		1,509
Total	$	1,695	$	145	$	(46)	$	1,794

Intangible Assets. Intangible assets cost and accumulated amortization were $2,255 million and $1,868 million, respectively, as of June 30, 2026, and $2,220 million and $1,877 million, respectively, as of December 31, 2025.

Amortization of intangible assets for the quarter and six months ended June 30, 2026 was $13 million and $27 million, respectively, compared to $15 million and $30 million for the same periods in 2025. 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, 2026 and 2025.

Held For Sale Assets and Liabilities. Assets held for sale were $4 million and $5 million as of June 30, 2026 and December 31, 2025, respectively. These balances are included in Other current assets in the Condensed Consolidated Balance Sheets. There were no liabilities held for sale as of June 30, 2026 and December 31, 2025.

During 2025, we sold one of our non-U.S. subsidiaries, primarily related to the Service segment. The Company recorded an impairment loss of $10 million related to the sale in Other income (expenses), net in the Condensed Consolidated Statements of Operations in the six months ended June 30, 2025.