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BUSINESS COMBINATIONS, GOODWILL, AND INTANGIBLE ASSETS (Tables)
 12 Months Ended
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$1 
Convertible notes agreements1 
Other net tangible liabilities(2)
Total net tangible assets acquired$— 
Platform1 
Goodwill23 
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 assets1 
Total net tangible assets acquired$4 
Customer lists and non-compete agreements1 
Hubs network3 
Goodwill45 
Purchase Price$53 
Summary of Composition of Goodwill and Intangible Assets
The composition of goodwill and intangible assets is as follows:
December 31,
20232022
(In millions)
Goodwill$163 $153 
Intangible assets with indefinite lives
Trademarks4 4 
 Digital assets (1)
— 9 
Amortizable intangible assets
 Licenses and others14 13 
 Non-compete agreements4 4 
 Customer lists12 12 
 Trademarks12 12 
 Hubs network4 4 
Others3 3 
Total intangible assets53 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
BrazilArgentinaMexicoChileColombiaOther countriesTotal
(In millions)
Balance, beginning of the period$60 $10 $39 $37 $5 $2 $153 
Effect of exchange rates changes4 — 5 — 1 — 10 
Balance, end of the period$64 $10 $44 $37 $6 $2 $163 
Year ended December 31, 2022
BrazilArgentinaMexicoChileColombiaOther CountriesTotal
(In millions)
Balance, beginning of the year$56 $10 $37 $37 $6 $2 $148 
Effect of exchange rates changes4 — 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, 20251 
For year to be ended December 31, 20261 
For year to be ended December 31, 20271 
Thereafter1 
$7