GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)
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6 Months Ended |
Jun. 30, 2024 |
Goodwill and Intangible Assets Disclosure [Abstract] |
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Schedule of Goodwill |
The changes in the carrying amounts of goodwill during the six months ended June 30, 2024 were as follows: | | | | | | | | | | | | | | | In millions | Electronics & Industrial | Water & Protection | Corporate & Other | Total | Balance at December 31, 2023 | $ | 10,205 | | $ | 5,900 | | $ | 615 | | $ | 16,720 | | | | | | | Currency translation adjustment | (79) | | (85) | | (5) | | (169) | | Goodwill recognized for Spectrum Acquisition | 7 | | — | | — | | 7 | | Balance at June 30, 2024 | $ | 10,133 | | $ | 5,815 | | $ | 610 | | $ | 16,558 | |
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Schedule of Other Finite Intangible Assets |
The gross carrying amounts and accumulated amortization of other intangible assets by major class are as follows: | | | | | | | | | | | | | | | | | | | | | | June 30, 2024 | December 31, 2023 | In millions | Gross Carrying Amount | Accum Amort | Net | Gross Carrying Amount | Accum Amort | Net | Intangible assets with finite lives: | | | | | | | Developed technology | $ | 2,072 | | $ | (1,182) | | $ | 890 | | $ | 2,079 | | $ | (1,092) | | $ | 987 | | Trademarks/tradenames | 924 | | (448) | | 476 | | 924 | | (414) | | 510 | | Customer-related | 5,745 | | (2,466) | | 3,279 | | 5,815 | | (2,329) | | 3,486 | | Other | 29 | | (1) | | 28 | | 28 | | (1) | | 27 | | Total other intangible assets with finite lives | $ | 8,770 | | $ | (4,097) | | $ | 4,673 | | $ | 8,846 | | $ | (3,836) | | $ | 5,010 | | Intangible assets with indefinite lives: | | | | | | | Trademarks/tradenames | 804 | | — | | 804 | | 804 | | — | | 804 | | Total other intangible assets | $ | 804 | | $ | — | | $ | 804 | | $ | 804 | | $ | — | | $ | 804 | | Total | $ | 9,574 | | $ | (4,097) | | $ | 5,477 | | $ | 9,650 | | $ | (3,836) | | $ | 5,814 | |
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Schedule of Other Indefinite Intangible Assets |
The gross carrying amounts and accumulated amortization of other intangible assets by major class are as follows: | | | | | | | | | | | | | | | | | | | | | | June 30, 2024 | December 31, 2023 | In millions | Gross Carrying Amount | Accum Amort | Net | Gross Carrying Amount | Accum Amort | Net | Intangible assets with finite lives: | | | | | | | Developed technology | $ | 2,072 | | $ | (1,182) | | $ | 890 | | $ | 2,079 | | $ | (1,092) | | $ | 987 | | Trademarks/tradenames | 924 | | (448) | | 476 | | 924 | | (414) | | 510 | | Customer-related | 5,745 | | (2,466) | | 3,279 | | 5,815 | | (2,329) | | 3,486 | | Other | 29 | | (1) | | 28 | | 28 | | (1) | | 27 | | Total other intangible assets with finite lives | $ | 8,770 | | $ | (4,097) | | $ | 4,673 | | $ | 8,846 | | $ | (3,836) | | $ | 5,010 | | Intangible assets with indefinite lives: | | | | | | | Trademarks/tradenames | 804 | | — | | 804 | | 804 | | — | | 804 | | Total other intangible assets | $ | 804 | | $ | — | | $ | 804 | | $ | 804 | | $ | — | | $ | 804 | | Total | $ | 9,574 | | $ | (4,097) | | $ | 5,477 | | $ | 9,650 | | $ | (3,836) | | $ | 5,814 | |
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Schedule of Net Intangibles by Segment |
The following table provides the net carrying value of other intangible assets by segment: | | | | | | | | | Net Intangibles by Segment | June 30, 2024 | December 31, 2023 | In millions | Electronics & Industrial | $ | 3,318 | | $ | 3,521 | | Water & Protection | 2,077 | | 2,206 | | Corporate & Other | 82 | | 87 | | Total | $ | 5,477 | | $ | 5,814 | |
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Schedule of Estimated Future Amortization Expense |
Total estimated amortization expense for the remainder of 2024 and the five succeeding fiscal years is as follows: | | | | | | Estimated Amortization Expense | | In millions | | Remainder of 2024 | $ | 289 | | 2025 | $ | 545 | | 2026 | $ | 518 | | 2027 | $ | 470 | | 2028 | $ | 418 | | 2029 | $ | 362 | |
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