Intangible Assets

3 Months Ended

Mar. 31, 2023

Goodwill And Intangible Assets Disclosure [Abstract]

Intangible Assets

6. Intangible Assets

Intangible assets consist of the following:

	(Stated in millions)
	Mar. 31, 2023						Dec. 31, 2022
	Gross		Accumulated		Net Book		Gross		Accumulated		Net Book
	Book Value		Amortization		Value		Book Value		Amortization		Value
Customer relationships	$	1,707	$	644	$	1,063	$	1,680	$	631	$	1,049
Technology/technical know-how		1,307		699		608		1,280		676		604
Tradenames		795		239		556		767		222		545
Other		1,680		886		794		1,657		863		794
	$	5,489	$	2,468	$	3,021	$	5,384	$	2,392	$	2,992

Amortization expense charged to income was $76 million during the first quarter of 2023 and $75 million during the first quarter of 2022.

Based on the carrying value of intangible assets at March 31, 2023, amortization expense for the subsequent five years is estimated to be: remaining three quarters of 2023—$223 million; 2024—$290 million; 2025—$275 million; 2026—$270 million; 2027—$263 million; and 2028—$263 million.