GOODWILL AND OTHER INTANGIBLE ASSETS—NET
The following table summarizes the change in the carrying amount of goodwill for the years ended December 31, 2025, and 2024, by reportable business segment:
Aerospace TechnologiesIndustrial AutomationBuilding AutomationEnergy and Sustainability SolutionsCorporate and All OtherTotal Goodwill
December 31, 2023$2,386 $9,650 $3,380 $916 $906 $17,238 
Acquisitions660 — 2,827 876 — 4,363 
Currency translation adjustment(18)(75)(71)— (7)(171)
Reclassified to Assets held for sale— (411)— — — (411)
December 31, 20243,028 9,164 6,136 1,792 899 21,019 
Acquisitions(28)— 122 1,259 — 1,353 
Currency translation adjustment25 312 181 50 569 
Impairment
— (724)— — — (724)
Reclassified to Assets held for sale
— (1,138)— — — (1,138)
December 31, 2025$3,025 $7,614 $6,439 $3,052 $949 $21,079 
Other intangible assets are comprised of:
 December 31, 2025December 31, 2024
Gross
Carrying
Amount
Accumulated
Amortization
Net
Carrying
Amount
Gross
Carrying
Amount
Accumulated
Amortization
Net
Carrying
Amount
Definite-life intangibles
      
Patents and technology$3,354 $(1,714)$1,640 $3,506 $(1,845)$1,661 
Customer relationships6,325 (2,008)4,317 6,378 (2,224)4,154 
Trademarks297 (232)65 398 (296)102 
Other592 (272)320 558 (268)290 
Total definite-life intangibles—net
10,568 (4,226)6,342 10,840 (4,633)6,207 
Indefinite-life intangibles
Trademarks1
394 — 394 414 — 414 
Total Other intangible assets—net2
$10,962 $(4,226)$6,736 $11,254 $(4,633)$6,621 
1
An impairment charge of $44 million and $48 million was recorded on indefinite-lived intangible assets related to the Industrial Automation business and personal protective equipment business during the years ended December 31, 2025 and 2024, respectively.
2
As of December 31, 2025 and 2024, Total Other intangible assets—net excludes net carrying amount of $262 million and $597 million, respectively, that is included in Assets held for sale in the Consolidated Balance Sheet. Refer to Note 2 Acquisitions, Divestitures, and Discontinued Operations.
Intangible assets amortization expense includes $570 million, $411 million, and $290 million for the years ended December 31, 2025, 2024, and 2023, respectively. Estimated future intangible asset amortization expense for each of the next five years for intangible assets recorded as of December 31, 2025, is as follows:
 December 31, 2025
2026$599 
2027598 
2028584 
2029571 
2030549 
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Historical Timeline

Fiscal YearFiled
2025Feb 17, 2026Showing above
2024Feb 14, 2025
2023Feb 16, 2024
2022Feb 10, 2023
2021Feb 11, 2022
2020Feb 12, 2021
2019Feb 14, 2020
2018Feb 8, 2019
2017Feb 9, 2018
2016Feb 10, 2017
2015Feb 12, 2016

About Goodwill & Intangibles Disclosures

Goodwill and intangible asset disclosures reveal the premium paid in acquisitions and how management assesses whether that premium retains its value. Since goodwill is no longer amortized under US GAAP, the annual impairment test is the only mechanism that adjusts carrying values downward — making the assumptions behind that test critically important for investors.

Key signals: a history of goodwill impairments suggests management consistently overpays for acquisitions. Watch the gap between reporting unit fair value and carrying amount — when fair value exceeds carrying amount by less than 10-20%, a small decline in business performance could trigger a write-down. For finite-lived intangibles, examine useful life assumptions across customer relationships, technology, and trade names; aggressive estimates inflate near-term earnings. Compare total intangibles-to-total-assets ratios against peers to assess acquisition dependency. Rising goodwill as a percentage of equity can signal balance sheet fragility.