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, 2024
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, 2024 and 2023:
In millions Components Accelera Distribution Power Systems Engine Total
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 
Acquisitions 2  —  —  33  —  35 
Foreign currency translation and other (48) (2) —  —  —  (50)
Divestiture (1)
(114) —  —  —  —  (114)
Balance at December 31, 2024 $ 1,724  $ 494  $ 83  $ 44  $ 25  $ 2,370 
(1) See NOTE 21, "ATMUS INITIAL PUBLIC OFFERING (IPO) AND DIVESTITURE," for additional information.
Summary of other intangible assets with finite useful lives that are subject to amortization The following table summarizes our other intangible assets:
  December 31,
In millions 2024 2023
Amortizable intangible assets
Software $ 793  $ 622 
Less: Accumulated amortization (372) (323)
Software, net 421  299 
Trademarks, patents, customer relationships and other 2,685  2,866 
Less: Accumulated amortization (819) (666)
Trademarks, patents, customer relationships and other, net 1,866  2,200 
Unamortizable other intangible assets 64  20 
Other intangible assets, net $ 2,351  $ 2,519 
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 2025 2026 2027 2028 2029
Projected amortization expense $ 320  $ 308  $ 293  $ 266  $ 232