v3.26.3
GOODWILL AND INTANGIBLE ASSETS
9 Months Ended
Sep. 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/adjustments8 475 483 
Foreign currency impact(1)(77)(78)
Balance at September 30, 2026
$8,574 $2,047 $10,621 
As of September 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:
September 30, 2026December 31, 2025
In millionsGross Carrying AmountAccumulated AmortizationNet Carrying AmountGross Carrying AmountAccumulated AmortizationNet Carrying Amount
Backlog$1,368 $(691)$677 $1,311 $(613)$698 
Customer relationships2,262 (630)1,632 2,000 (550)1,450 
Acquired technology1,662 (836)826 1,570 (731)839 
Total$5,292 $(2,157)$3,135 $4,881 $(1,894)$2,987 
At September 30, 2026, the weighted average remaining useful lives of backlog, customer relationships and acquired technology were 7 years, 16 years and 6 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 $89 million and $267 million for the three and nine months ended September 30, 2026, respectively, and $77 million and $219 million for the three and nine months ended September 30, 2025, respectively.
Amortization expense for the five succeeding years is estimated to be as follows:
In millions
Remainder of 2026$89 
2027$355 
2028$353 
2029$351 
2030$338