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GOODWILL AND INTANGIBLE ASSETS (Tables)
6 Months Ended
Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill
The changes in the carrying amount of goodwill were as follows:

(In millions)HVACRefrigerationFire & SecurityTotal
Balance as of December 31, 2023$6,407 $1,124 $458 $7,989 
Acquisitions (1)
7,572 — — 7,572 
Divestitures (2)
— — 31 31 
Reclassified to held for sale (2)
— (13)(10)
Foreign currency translation(364)(26)53 (337)
Balance as of June 30, 2024$13,615 $1,101 $529 $15,245 
(1) See Note 15 - Acquisitions for additional information.
(2) See Note 16 - Divestitures for additional information.
Schedule of Finite-Live Intangible Assets
Identifiable intangible assets consisted of the following:

June 30, 2024December 31, 2023
(In millions)Gross AmountAccumulated AmortizationNet AmountGross AmountAccumulated AmortizationNet Amount
Amortized:
Customer relationships$5,868 $(852)$5,016 $1,222 $(610)$612 
Patents and trademarks973 (186)787 332 (163)169 
Service portfolios and other1,802 (621)1,181 686 (503)183 
8,643 (1,659)6,984 2,240 (1,276)964 
Unamortized:
Trademarks and other64 — 64 64 — 64 
Intangible assets, net$8,707 $(1,659)$7,048 $2,304 $(1,276)$1,028 
Schedule of Indefinite-Lived Intangible Assets
Identifiable intangible assets consisted of the following:

June 30, 2024December 31, 2023
(In millions)Gross AmountAccumulated AmortizationNet AmountGross AmountAccumulated AmortizationNet Amount
Amortized:
Customer relationships$5,868 $(852)$5,016 $1,222 $(610)$612 
Patents and trademarks973 (186)787 332 (163)169 
Service portfolios and other1,802 (621)1,181 686 (503)183 
8,643 (1,659)6,984 2,240 (1,276)964 
Unamortized:
Trademarks and other64 — 64 64 — 64 
Intangible assets, net$8,707 $(1,659)$7,048 $2,304 $(1,276)$1,028 
Schedule of Amortization of Intangible Assets
Amortization of intangible assets was as follows:

 Three Months Ended June 30,Six Months Ended June 30,
(In millions)2024202320242023
Amortization expense of Intangible assets$218 $61 $430 $125