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Business Acquisitions, Dispositions, Goodwill and Intangible Assets
 9 Months Ended
Sep. 30, 2022
Business Combinations, Goodwill, and Intangible Assets [Abstract]  
Business Acquisitions, Dispositions, Goodwill and Intangible Assets Business Acquisitions, Dispositions, Goodwill and Intangible Assets
Business Acquisitions. Our acquisitions of businesses and intangibles assets, net of cash, totaled $38 million and $59 million in the nine months ended September 30, 2022 and 2021, respectively. The acquisitions consisted of a number of acquisitions primarily in our Service segment. Transaction costs incurred were not considered significant.

Goodwill. Changes in our Goodwill balances during the nine months ended September 30, 2022 were as follows:

(dollars in millions)Balance as of December 31, 2021Goodwill Resulting
From Business Combinations
Business Disposals 1
Foreign Currency
Translation 
and Other
Balance as of
September 30, 2022
New Equipment$336 $— $(26)$(41)$269 
Service1,331 10 (3)(159)1,179 
Total$1,667 $10 $(29)$(200)$1,448 

1    The sale of our Russia business included $29 million of goodwill. For additional information, refer to the subheading "Disposals and Held For Sale Assets and Liabilities" below.

Intangible Assets. Intangible assets cost and accumulated amortization were $1,892 million and $1,546 million, respectively, as of September 30, 2022, and $2,117 million and $1,698 million, respectively, as of December 31, 2021.

Amortization of intangible assets for the quarter and nine months ended September 30, 2022 was $18 million and $55 million, respectively, compared to $22 million and $67 million for the same periods in 2021. Excluding the impact of currency translation adjustments, there were no other significant changes in our Intangible Assets during the quarters and nine months ended September 30, 2022 and 2021.
Held For Sale Assets and Liabilities. As of September 30, 2022, assets held for sale were $9 million, and are included in Other current assets in the Condensed Consolidated Balance Sheets. There were no balances as of December 31, 2021.In June 2022, we entered into an agreement to sell our business in Russia to a third party, which was then sold on July 27, 2022. As of June 30, 2022, our operations in Russia, primarily in the New Equipment segment, were classified as assets and liabilities held for sale of $157 million and $136 million, respectively. The Company recorded the loss on sale and related charges of $6 million and $24 million in Other expense (income), net in the Condensed Consolidated Statements of Operations for the quarter and nine months ended September 30, 2022, respectively, including an impairment loss of $18 million related to the net assets held for sale during the quarter ended June 30, 2022.