Intangible Assets

6 Months Ended

Jun. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

6. Intangible Assets

Intangible assets consist of the following:

	(Stated in millions)
	Jun. 30, 2023						Dec. 31, 2022
	Gross		Accumulated		Net Book		Gross		Accumulated		Net Book
	Book Value		Amortization		Value		Book Value		Amortization		Value
Customer relationships	$	1,709	$	667	$	1,042	$	1,680	$	631	$	1,049
Technology/technical know-how		1,306		721		585		1,280		676		604
Tradenames		795		248		547		767		222		545
Other		1,704		910		794		1,657		863		794
	$	5,514	$	2,546	$	2,968	$	5,384	$	2,392	$	2,992

Amortization expense charged to income was as follows:

(Stated in millions)
	2023		2022
Second Quarter	$	77	$	75
Six Months	$	153	$	150

Based on the carrying value of intangible assets at June 30, 2023, amortization expense for the subsequent five years is estimated to be: remaining two quarters of 2023—$153 million; 2024—$288 million; 2025—$273 million; 2026—$269 million; 2027—$267 million; and 2028—$246 million.