Annual report pursuant to Section 13 and 15(d)

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)

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GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)
 12 Months Ended
Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Changes in the carrying amount of goodwill
The following table summarizes the changes in the carrying amount of goodwill for the years ended December 31, 2023 and 2022:
In millions Components Accelera Distribution Power Systems Engine Total
Balance at December 31, 2021 $ 934  $ 257  $ 79  $ 11  $ 6  $ 1,287 
Acquisitions 835  237  —  —  —  1,072 
Foreign currency translation and other (17) 1  —  —  —  (16)
Balance at December 31, 2022 1,752  495  79  11  6  2,343 
Acquisitions 122  —  4  —  18  144 
Foreign currency translation and other 10  1  —  —  1  12 
Balance at December 31, 2023 $ 1,884  $ 496  $ 83  $ 11  $ 25  $ 2,499 
Summary of other intangible assets with finite useful lives that are subject to amortization The following table summarizes our other intangible assets with finite useful lives that are subject to amortization:
  December 31,
In millions 2023 2022
Software $ 622  $ 679 
Less: Accumulated amortization (323) (410)
Software, net 299  269 
Trademarks, patents, customer relationships and other 2,886  2,858 
Less: Accumulated amortization (666) (440)
Trademarks, patents, customer relationships and other, net 2,220  2,418 
Other intangible assets, net $ 2,519  $ 2,687 
Projected amortization expense of intangible assets The projected amortization expense of our intangible assets, assuming no further acquisitions or dispositions, is as follows:
In millions 2024 2025 2026 2027 2028
Projected amortization expense $ 323  $ 299  $ 281  $ 260  $ 233