Intangible Assets

6 Months Ended

Jun. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

6. Intangible Assets

Intangible assets consist of the following:


	(Stated in millions)

	Jun. 30, 2024						Dec. 31, 2023
	Gross		Accumulated		Net Book		Gross		Accumulated		Net Book
	Book Value		Amortization		Value		Book Value		Amortization		Value
Customer relationships	$	1,887	$	754	$	1,133	$	1,887	$	709	$	1,178
Technology/technical know-how		1,622		821		801		1,516		770		746
Tradenames		795		282		513		795		265		530
Other		1,598		847		751		1,582		797		785
	$	5,902	$	2,704	$	3,198	$	5,780	$	2,541	$	3,239

Amortization expense charged to income was as follows:


(Stated in millions)

	2024		2023
Second Quarter	$	82	$	77
Six Months	$	163	$	153

Based on the carrying value of intangible assets at June 30, 2024, amortization expense for the subsequent five years is estimated to be: remaining two quarters of 2024—$167 million; 2025—$314 million; 2026—$305 million; 2027—$301 million; 2028—$292 million; and 2029—$279 million.