Intangible Assets

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

Intangible Assets

Identifiable intangible assets consisted of the following:

	Gross Carrying Amount		Accumulated Amortization		Net Book Value
(In millions)
December 31, 2023
Customer relationships	$	14,669	$	7,594	$	7,075
Acquired software and technology	2,148		1,148		1,000
Trade names	641		356		285
Purchased software	1,087		520		567
Capitalized software and other intangibles	3,356		1,073		2,283
Total	$	21,901	$	10,691	$	11,210
December 31, 2022
Customer relationships	$	14,795	$	6,371	$	8,424
Acquired software and technology	2,510		1,234		1,276
Trade names	633		295		338
Purchased software	1,146		595		551
Capitalized software and other intangibles	2,601		775		1,826
Total	$	21,685	$	9,270	$	12,415

Gross software development costs capitalized for new products and enhancements to existing products totaled $870 million, $807 million and $613 million for the years ended December 31, 2023, 2022 and 2021, respectively. Amortization expense associated with the above identifiable intangible assets was $2,360 million, $2,441 million and $2,548 million for the years ended December 31, 2023, 2022 and 2021, respectively.

The Company estimates that annual amortization expense with respect to intangible assets recorded at December 31, 2023 will be as follows:

(In millions)
Year Ending December 31,
2024	$	2,276
2025	2,007
2026	1,759
2027	1,395
2028	1,047
Thereafter	2,726
Total	$	11,210