v3.26.1
GOODWILL AND INTANGIBLE ASSETS (Tables)
 6 Months Ended
Jun. 30, 2026
Intangible Asset, Goodwill and Other [Abstract]  
Schedule of Changes in Goodwill by Business Segment
The Company’s goodwill by business segment is as follows (in millions):
June 30, 2026December 31, 2025
Goodwill, Gross
Accumulated Impairment
Goodwill, Net
Goodwill, Gross
Accumulated Impairment
Goodwill, Net
ES
$796 $— $796 $796 $— $796 
MP
214 (23)191 217 (23)194 
SV
1,470 — 1,470 — — — 
Aerials
140 (39)101 140 (39)101 
Total
$2,620 $(62)$2,558 $1,153 $(62)$1,091 

An analysis of changes in the Company’s net carrying value of goodwill by business segment is as follows (in millions):
 ES
MP
SV
AerialsTotal
Balance at December 31, 2025, net
$796 $194 $— $101 $1,091 
Acquisitions— — 1,470 — 1,470 
Foreign exchange effect and other— (3)— — (3)
Balance at June 30, 2026, net
$796 $191 $1,470 $101 $2,558 
Schedule of Intangible Assets by Class
Intangible assets, net were comprised of the following (in millions):
June 30, 2026December 31, 2025
Gross Carrying AmountAccumulated AmortizationNet Carrying AmountGross Carrying AmountAccumulated AmortizationNet Carrying Amount
Finite-lived intangible assets:
Technology$320 $(32)$288 $153 $(19)$134 
Customer relationships
1,624 (135)1,489 860 (103)757 
Trade names
170 (29)141 153 (21)132 
Land use rights
4 (1)3 4 (1)3 
Backlog
235 (53)182 — — — 
Non-competition agreement
19 (3)16 — — — 
Other18 (17)1 17 (16)1 
Total finite-lived intangible assets
$2,390 $(270)$2,120 $1,187 $(160)$1,027 
Indefinite-lived trade names
786 — 786 — — — 
Total intangible assets
$3,176 $(270)$2,906 $1,187 $(160)$1,027 
Schedule of Intangible Assets Amortization Expense
Estimated aggregate intangible asset amortization expense for each of the next five years is as follows (in millions):

2026 (remaining six months)$124 
2027255 
2028237 
2029216 
2030197