Page 137 - Martin Marietta - 2025 Proxy Statement

NOTES TO FINANCIAL STATEMENTS (Continued)
Intangible assets acquiredduring2024, of which$46 million were frombusinesscombinations, areas follows:

Weighted-average
(in millions, except year data) Amount amortization period
Subjecttoamortization:
Customer relationships $ 40 11 years
Use rightsand other 16 10 years
Permits 1 40 years
Totalsubjecttoamortization $ 57 11 years
Notsubjecttoamortization:
Use rightsand other 5 N/A
Total $ 62

Amortization expense forintangible assets forthe yearsended December31, 2024, 2023 and 2022 was$29 million, $28 million
and $27 million, respectively.
Theestimated amortization expense forintangible assets foreachof the next five yearsand thereafter is as follows:

(in millions)
2025 $ 33
2026 31
2027 30
2028 30
2029 29
Thereafter 539
Total $ 692

Note D: Accounts Receivable, Net
December 31
(in millions) 2024 2023
stomer receivables $ 678 $ 747
Othercurrent receivables 8 18
Totalaccounts receivable 686 765
Less: allowance for estimatedcreditlosses (8) (12)
Accounts receivable, net $ 678 $ 753

Note E: Inventories, Net

December 31
(in millions) 2024 2023
Finished products $ 1,327 $ 1,152
Products in process 24 25
Rawmaterials 65 60
Suppliesand expendable parts 162 155
Total inventories 1,578 1,392
Less: allowances (463) (403)
Inventories, net $ 1,115 $ 989

024 Annual Report ♦ Page 29