Acquisitions, Dispositions, Goodwill and Intangible Assets

3 Months Ended

Mar. 31, 2023

Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net [Abstract]

Acquisitions, Dispositions, Goodwill and Other Intangible Assets

Note 2: Acquisitions, Dispositions, Goodwill and Intangible Assets

Goodwill. Changes in our goodwill balances for the quarter ended March 31, 2023 were as follows:

(dollars in millions)	Balance as of December 31, 2022		Acquisitions and Divestitures		Foreign Currency Translation and Other		Balance as of March 31, 2023
Collins Aerospace	$	30,719	$	—	$	65	$	30,784
Pratt & Whitney	1,563		—		—		1,563
Raytheon Intelligence & Space	9,841		—		—		9,841
Raytheon Missiles & Defense	11,700		—		(1)		11,699
Total Segments	53,823		—		64		53,887
Eliminations and other	17		—		—		17
Total	$	53,840	$	—	$	64	$	53,904

Intangible Assets. Identifiable intangible assets are comprised of the following:

	March 31, 2023				December 31, 2022
(dollars in millions)	Gross Amount		Accumulated Amortization		Gross Amount		Accumulated Amortization
Amortized:
Collaboration assets	$	5,595	$	(1,470)	$	5,536	$	(1,408)
Exclusivity assets	3,002		(325)		2,911		(323)
Developed technology and other	1,204		(567)		1,202		(544)
Customer relationships	29,788		(9,394)		29,775		(8,967)
	39,589		(11,756)		39,424		(11,242)
Indefinite-lived:
Trademarks and other	8,644		—		8,641		—
Total	$	48,233	$	(11,756)	$	48,065	$	(11,242)

Amortization of intangible assets for the quarters ended March 31, 2023 and 2022 was $509 million and $487 million, respectively. The following is the expected amortization of intangible assets for the remainder of 2023 through 2028: 

(dollars in millions)	Remaining 2023		2024		2025		2026		2027		2028
Amortization expense	$	1,539	$	2,183	$	2,072	$	1,986	$	1,870	$	1,765