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GOODWILL AND INTANGIBLE ASSETS (Tables) | 3 Months Ended
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Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Composition of Goodwill and Intangible Assets | The composition of goodwill and intangible assets is as follows:
| March 31, 2024 |  | December 31, 2023
| (In millions)
Goodwill | $ | 158 |  |  | $ | 163 |
Intangible assets with indefinite lives |  |  |
Trademarks | 3 |  |  | 4 |
Amortizable intangible assets |  |  |
Licenses and others | 17 |  |  | 14 |
Non-compete agreements | 4 |  |  | 4 |
Customer lists | 12 |  |  | 12 |
Trademarks | 12 |  |  | 12 |
Hubs network | 4 |  |  | 4 |
Others | 3 |  |  | 3 |
Total intangible assets | 55 |  |  | 53 |
Accumulated amortization | (43) |  |  | (42) |
Total intangible assets, net | $ | 12 |  |  | $ | 11 |
Changes in Carrying Amount of Goodwill | The changes in the carrying amount of goodwill for the three-month period ended March 31, 2024 and the year ended December 31, 2023 are as follows:
| Three Months Ended March 31, 2024
| Brazil |  | Argentina |  | Mexico |  | Chile |  | Colombia |  | Other countries |  | Total
| (In millions)
Balance, beginning of the period | $ | 64 |  |  | $ | 10 |  |  | $ | 44 |  |  | $ | 37 |  |  | $ | 6 |  |  | $ | 2 |  |  | $ | 163 |
Effect of exchange rates changes | (2) |  |  | — |  |  | 1 |  |  | (4) |  |  | — |  |  | — |  |  | (5) |
Balance, end of the period | $ | 62 |  |  | $ | 10 |  |  | $ | 45 |  |  | $ | 33 |  |  | $ | 6 |  |  | $ | 2 |  |  | $ | 158 |
| 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 |
Expected Intangible Asset Amortization Expense | The following table summarizes the remaining amortization of intangible assets (in millions) with definite useful life as of March 31, 2024:
For year to be ended December 31, 2024 | $ | 2 |
For year to be ended December 31, 2025 | 2 |
For year to be ended December 31, 2026 | 2 |
For year to be ended December 31, 2027 | 1 |
Thereafter | 2 |
| $ | 9 |

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