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GOODWILL AND INTANGIBLE ASSETS
 3 Months Ended
Mar. 31, 2026
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND INTANGIBLE ASSETS GOODWILL AND INTANGIBLE ASSETS
The Company records goodwill as the excess of the purchase price over the fair value of the net assets acquired in a business combination. Goodwill is tested and reviewed annually for impairment on July 1 or whenever there is a material change in events or circumstances that indicates that the fair value of the reporting unit may be less than its carrying value.

The changes in the carrying value of goodwill were as follows:

(In millions)Climate Solutions AmericasClimate Solutions EuropeClimate Solutions Asia Pacific, Middle East & AfricaClimate Solutions TransportationTotal
Balance as of December 31, 2025$5,075 $7,808 $1,410 $1,208 $15,501 
Acquisitions10 — — — 10 
Reclassified to held for sale (1)
— 4 — — 4 
Foreign currency translation(2)(191)(1)(8)(202)
Balance as of March 31, 2026$5,083 $7,621 $1,409 $1,200 $15,313 
(1) See Note 15 - Divestitures for additional information.
Identifiable intangible assets are amortized over their estimated useful lives and consisted of the following:

March 31, 2026December 31, 2025
(In millions)Gross AmountAccumulated AmortizationNet AmountGross AmountAccumulated AmortizationNet Amount
Customer relationships$6,009 $(1,697)$4,312 $6,143 $(1,573)$4,570 
Patents and trademarks942 (204)738 945 (191)754 
Technology and other1,657 (720)937 1,692 (690)1,002 
Total intangible assets$8,608 $(2,621)$5,987 $8,780 $(2,454)$6,326 

Amortization of intangible assets was as follows:

Three Months Ended
 March 31,
(In millions)20262025
Amortization expense of Intangible assets$217 $208