Goodwill and intangible assets

3 Months Ended

Mar. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

. Goodwill and intangible assets

Intangible assets

The composition of goodwill and intangible assets is as follows:


	March 31, 2023		December 31, 2022
	(In millions)
Goodwill	$	160	$	153
Intangible assets with indefinite lives
- Trademarks	4		4
- Digital assets (1)	9		9
Amortizable intangible assets
- Licenses and others	13		13
- Non-compete agreements	4		4
- Customer lists	13		12
- Trademarks	12		12
- Hubs network	4		4
- Others	3		3
Total intangible assets	$	62	$	61
Accumulated amortization	(38)		(36)
Total intangible assets, net	$	24	$	25

(1)Digital assets are net of $21 million of impairment losses as of both March 31, 2023 and December 31, 2022.

Goodwill

The changes in the carrying amount of goodwill for the three-month period ended March 31, 2023 and the year ended December 31, 2022 are as follows:


	Three Months Ended March 31, 2023
	Brazil		Argentina		Mexico		Chile		Colombia		Other Countries		Total
	(In millions)
Balance, beginning of the period	$	60	$	10	$	39	$	37	$	5	$	2	$	153
Effect of exchange rates changes	1		—		3		3		—		—		7
Balance, end of the period	$	61	$	10	$	42	$	40	$	5	$	2	$	160

	Year Ended December 31, 2022
	Brazil		Argentina		Mexico		Chile		Colombia		Other Countries		Total
	(In millions)
Balance, beginning of the period	$	56	$	10	$	37	$	37	$	6	$	2	$	148
Effect of exchange rates changes	4		—		2		—		(1)		—		5
Balance, end of the period	$	60	$	10	$	39	$	37	$	5	$	2	$	153

Amortizable intangible assets

Intangible assets with definite useful life are comprised of customer lists, non-compete and non-solicitation agreements, hubs network, acquired software licenses and other acquired intangible assets including developed technologies and trademarks. Aggregate amortization expense for intangible assets totaled $2 million and $5 million for the three-month periods ended March 31, 2023 and 2022, respectively.

The following table summarizes the remaining amortization of intangible assets (in millions of U.S. dollars) with definite useful life as of March 31, 2023:


For year ended December 31, 2023	$	3
For year ended December 31, 2024	3
For year ended December 31, 2025	1
For year ended December 31, 2026	1
Thereafter	3
	$	11