v3.26.3
Intangible Assets
9 Months Ended
Sep. 30, 2026
Intangible Asset, Goodwill and Other [Abstract]  
Intangible Assets

8. Intangible Assets

Intangible assets consist of the following:

 

 

(Stated in millions)

 

 

 

Sept. 30, 2026

 

Dec. 31, 2025

 

Gross

 

Accumulated

 

 

Net Book

 

Gross

 

Accumulated

 

 

Net Book

 

Book Value

 

Amortization

 

 

Value

 

Book Value

 

Amortization

 

 

Value

 

Customer relationships

$

2,780

 

$

938

 

$

1,842

 

$

2,783

 

$

849

 

$

1,934

 

Technology/technical know-how

 

2,900

 

 

 

1,119

 

 

1,781

 

 

2,635

 

 

998

 

 

1,637

 

Trade names

 

1,066

 

 

321

 

 

745

 

 

1,067

 

 

283

 

 

784

 

Other

 

1,643

 

 

1,084

 

 

559

 

 

1,637

 

 

1,004

 

 

633

 

$

8,389

 

$

3,462

 

$

4,927

 

$

8,122

 

$

3,134

 

$

4,988

 

 

Amortization expense charged to income was as follows:

 

(Stated in millions)

 

 

 

 

 

 

 

 

2026

 

 

2025

 

Third Quarter

$

113

 

$

101

 

Nine Months

$

334

 

$

265

 

 

Based on the carrying value of intangible assets at September 30, 2026, amortization expense for the subsequent five years is estimated to be: fourth quarter of 2026: $124 million; 2027: $484 million; 2028: $473 million; 2029: $457 million; 2030: $448 million; and 2031: $426 million.