XML 29 R16.htm IDEA: XBRL DOCUMENT
v3.24.3

INTANGIBLE ASSETS AND GOODWILL | 9 Months Ended
--- | ---
Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
INTANGIBLE ASSETS AND GOODWILL | INTANGIBLE ASSETS AND GOODWILL The Company's intangible assets at September 30, 2024 and December 31, 2023 consist of the following (in millions):
| September 30, 2024 |  | December 31, 2023 |  |
| Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount |  | Amortization Period
Trade names | $ | 1,816 |  |  | $ | (985) |  |  | $ | 831 |  |  | $ | 1,812 |  |  | $ | (911) |  |  | $ | 901 |  |  | 3 - 20 years
Supply and distribution agreements | 1,410 |  |  | (832) |  |  | 578 |  |  | 1,402 |  |  | (759) |  |  | 643 |  |  | 3 - 20 years
Other intangible assets | 331 |  |  | (290) |  |  | 41 |  |  | 330 |  |  | (261) |  |  | 69 |  |  | Up to 20 years
Total intangible assets | $ | 3,557 |  |  | $ | (2,107) |  |  | $ | 1,450 |  |  | $ | 3,544 |  |  | $ | (1,931) |  |  | $ | 1,613 |  |  |
Intangible assets are amortized on a straight-line basis. Amortization expense for the intangible assets was $55 million for the three months ended September 30, 2024 and 2023 and $166 million for the nine months ended September 30, 2024 and 2023. The carrying value of the Company's goodwill at September 30, 2024 and December 31, 2023 was $2.8 billion and is stated net of cumulative impairment charges of $2.0 billion. The Company tests goodwill for impairment at the reporting unit level on an annual basis as of September 30 and between annual tests if an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying amount. As of September 30, 2024, the Company performed its annual goodwill impairment test and concluded that there was no impairment of goodwill.

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration