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GOODWILL AND INTANGIBLE ASSETS | 12 Months Ended
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Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND INTANGIBLE ASSETS | GOODWILL AND INTANGIBLE ASSETS A substantial portion of the Company's intangible assets and goodwill relates to the acquisitions of KAYAK, OpenTable, and Getaroom. Goodwill The changes in the balance of goodwill for the years ended December 31, 2024 and 2023 consist of the following:
|  | Year Ended December 31,
(in millions) |  | 2024 |  | 2023
Balance, beginning of year |  | $ | 2,826 |  |  | $ | 2,807 |
Foreign currency translation adjustments |  | (27) |  |  | 19 |
Balance, end of year (1) |  | $ | 2,799 |  |  | $ | 2,826 |
(1) The balance of goodwill as of December 31, 2024 and 2023 is stated net of cumulative impairment charges of $2 billion. At September 30, 2024, the Company performed its annual goodwill impairment test and concluded that there was no impairment of goodwill. Intangible Assets The Company's intangible assets consist of the following:
|  | December 31, 2024 |  | December 31, 2023 |  |
(in millions) |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount |  | Amortization Period
Trade names |  | $ | 1,802 |  |  | $ | (1,000) |  |  | $ | 802 |  |  | $ | 1,812 |  |  | $ | (911) |  |  | $ | 901 |  |  | 3 - 20 years
Supply and distribution agreements |  | 1,377 |  |  | (830) |  |  | 547 |  |  | 1,402 |  |  | (759) |  |  | 643 |  |  | 3 - 20 years
Other intangible assets |  | 326 |  |  | (293) |  |  | 33 |  |  | 330 |  |  | (261) |  |  | 69 |  |  | Up to 20 years
Total intangible assets |  | $ | 3,505 |  |  | $ | (2,123) |  |  | $ | 1,382 |  |  | $ | 3,544 |  |  | $ | (1,931) |  |  | $ | 1,613 |  |  |
Amortization expense for intangible assets was $221 million, $222 million, and $224 million for the years ended December 31, 2024, 2023, and 2022, respectively. The estimate d future annual amortization expense for the Company's intangible assets at December 31, 2024 is as follows:
(in millions) |  |
2025 |  | $ | 213 |
2026 |  | 179 |
2027 |  | 168 |
2028 |  | 168 |
2029 |  | 159 |
Thereafter |  | 495 |

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- 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
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