
	June 30, 2026		December 31, 2025
Balance at the beginning of the period:
Goodwill, gross	$	3,541	$	1,334
Accumulated impairment losses	(668)		(664)
Goodwill	2,873		670

Additions	—		2,201
Adjustments(a)	(12)		—
Currency translation	(2)		2

Balance at the end of the period:
Goodwill, gross	3,525		3,541
Accumulated impairment losses	(666)		(668)
Goodwill	$	2,859	$	2,873

(a) Goodwill adjustments were due to measurement period adjustments for the H&E acquisition, see Note 5, "Business Combinations" for additional information.

Intangible assets, net, consisted of the following major classes (in millions):


	June 30, 2026
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Value
Finite-lived intangible assets:
Customer relationships	$	1,554	$	(278)	$	1,276
Non-compete agreements	19		(12)		7
Internally developed software(a)	64		(19)		45
Total	1,637		(309)		1,328
Indefinite-lived intangible assets:
Trade name	271		—		271
Total intangible assets, net	$	1,908	$	(309)	$	1,599

(a) Includes capitalized costs of $30 million yet to be placed into service.


	December 31, 2025
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Value
Finite-lived intangible assets:
Customer relationships	$	1,552	$	(203)	$	1,349
Non-compete agreements	19		(10)		9
Internally developed software(a)	53		(17)		36
Total	1,624		(230)		1,394
Indefinite-lived intangible assets:
Trade name	271		—		271
Total intangible assets, net	$	1,895	$	(230)	$	1,665

(a) Includes capitalized costs of $21 million yet to be placed into service.

Amortization of intangible assets was $42 million and $83 million for the three and six months ended June 30, 2026, respectively, and $20 million and $31 million for the three and six months ended June 30, 2025, respectively.