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BUSINESS COMBINATIONS, GOODWILL, AND INTANGIBLE ASSETS (Tables) | 12 Months Ended
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Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
Summary of Purchase Price Allocation for Acquisition | The following table summarizes the purchase price allocation for the acquisition:
| Redelcom S.A.
| (In millions)
Cash and cash equivalents | $ | 1 |
Convertible notes agreements | 1 |
Other net tangible liabilities | (2) |
Total net tangible assets acquired | $ | — |
Platform | 1 |
Goodwill | 23 |
Purchase Price | $ | 24 |
The following table summarizes the purchase price allocation for the acquisition:
| Kangu Participações S.A.
| (In millions)
Cash and cash equivalents | $ | 3 |
Other net tangible assets | 1 |
Total net tangible assets acquired | $ | 4 |
Customer lists and non-compete agreements | 1 |
Hubs network | 3 |
Goodwill | 45 |
Purchase Price | $ | 53 |
Summary of Composition of Goodwill and Intangible Assets | The composition of goodwill and intangible assets is as follows:
| December 31,
| 2023 |  | 2022
| (In millions)
Goodwill | $ | 163 |  |  | $ | 153 |
Intangible assets with indefinite lives |  |  |
Trademarks | 4 |  |  | 4 |
Digital assets (1) | — |  |  | 9 |
Amortizable intangible assets |  |  |
Licenses and others | 14 |  |  | 13 |
Non-compete agreements | 4 |  |  | 4 |
Customer lists | 12 |  |  | 12 |
Trademarks | 12 |  |  | 12 |
Hubs network | 4 |  |  | 4 |
Others | 3 |  |  | 3 |
Total intangible assets | 53 |  |  | 61 |
Accumulated amortization | (42) |  |  | (36) |
Total intangible assets, net | $ | 11 |  |  | $ | 25 |
Intangible assets at fair value (1) | $ | 24 |  |  | $ | — |
(1) Digital assets as of December 31, 2023 are included within “Intangible assets at fair value” of the consolidated balance sheets. See Note 2 – Summary of significant accounting policies – Recently Adopted Accounting Standards of these audited consolidated financial statements for further detail.
Schedule of Changes in Carrying Amount of Goodwill | The changes in the carrying amount of goodwill for the years ended December 31, 2023 and 2022 are as follows:
| Year ended December 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 | 4 |  |  | — |  |  | 5 |  |  | — |  |  | 1 |  |  | — |  |  | 10 |
Balance, end of the period | $ | 64 |  |  | $ | 10 |  |  | $ | 44 |  |  | $ | 37 |  |  | $ | 6 |  |  | $ | 2 |  |  | $ | 163 |
| Year ended December 31, 2022
| Brazil |  | Argentina |  | Mexico |  | Chile |  | Colombia |  | Other Countries |  | Total
| (In millions)
Balance, beginning of the year | $ | 56 |  |  | $ | 10 |  |  | $ | 37 |  |  | $ | 37 |  |  | $ | 6 |  |  | $ | 2 |  |  | $ | 148 |
Effect of exchange rates changes | 4 |  |  | — |  |  | 2 |  |  | — |  |  | (1) |  |  | — |  |  | 5 |
Balance, end of the year | $ | 60 |  |  | $ | 10 |  |  | $ | 39 |  |  | $ | 37 |  |  | $ | 5 |  |  | $ | 2 |  |  | $ | 153 |
Summary of Expected Intangible Asset Amortization Expense | The following table summarizes the remaining amortization of intangible assets with definite useful life as of December 31, 2023:
For year to be ended December 31, 2024 | $ | 3 |
For year to be ended December 31, 2025 | 1 |
For year to be ended December 31, 2026 | 1 |
For year to be ended December 31, 2027 | 1 |
Thereafter | 1 |
| $ | 7 |

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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479907/805-20-50-1 + Details
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