Goodwill And Other Intangibles

12 Months Ended

Sep. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill And Other Intangibles

GOODWILL AND OTHER INTANGIBLES

The change in the carrying value of goodwill by business segment follows:

	Final Control		Measurement & Analytical	Discrete Automation	Safety & Productivity	Control Systems & Software	AspenTech	Total
Balance, September 30, 2021	$	2,762	1,227	877	415	642	1,044	6,967
Acquisitions	—		—	—	—	40	7,289	7,329
Foreign currency translation and other	(146)		(57)	(70)	(51)	(19)	(7)	(350)
Balance, September 30, 2022	2,616		1,170	807	364	663	8,326	13,946
Acquisitions	—		374	55	—	—	—	429
Foreign currency translation and other	44		1	30	24	5	1	105
Balance, September 30, 2023	$	2,660	1,545	892	388	668	8,327	14,480

The gross carrying amount and accumulated amortization of identifiable intangible assets by major class follow:

	Customer Relationships			Intellectual Property		Capitalized Software		Total
	2022		2023	2022	2023	2022	2023	2022	2023
Gross carrying amount	$	4,393	4,623	3,961	4,118	1,317	1,370	9,671	10,111
Less: Accumulated amortization	957		1,270	1,027	1,411	1,115	1,167	3,099	3,848
Net carrying amount	$	3,436	3,353	2,934	2,707	202	203	6,572	6,263

Intangible asset amortization expense for the major classes included above for 2023, 2022 and 2021 was $764, $530 and $432, respectively. Based on intangible asset balances as of September 30, 2023, amortization expense is expected to approximate $768 in 2024, $696 in 2025, $596 in 2026, $564 in 2027 and $537 in 2028. The increase in goodwill and intangible assets in 2022 reflects the Heritage AspenTech acquisition.