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GOODWILL AND INTANGIBLE ASSETS (Tables)
12 Months Ended
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
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)20242023
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.
Intangible assets
The Company's intangible assets consist of the following:
 December 31, 2024December 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 agreements1,377 (830)547 1,402 (759)643 
3 - 20 years
Other intangible assets326 (293)33 330 (261)69 
Up to 20 years
Total intangible assets$3,505 $(2,123)$1,382 $3,544 $(1,931)$1,613 
Annual estimated amortization expense for intangible assets for the next five years and thereafter
The estimated future annual amortization expense for the Company's intangible assets at December 31, 2024 is as follows:
(in millions)
2025$213 
2026179 
2027168 
2028168 
2029159 
Thereafter495