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GOODWILL AND INTANGIBLE ASSETS | 9 Months Ended
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Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND INTANGIBLE ASSETS | GOODWILL AND INTANGIBLE ASSETS Intangible assets The composition of goodwill and intangible assets is as follows:
| September 30, 2024 |  | December 31, 2023
| (In millions)
Goodwill | $ | 149 |  |  | $ | 163 |
Intangible assets with indefinite lives |  |  |
Trademarks | 4 |  |  | 4 |
Amortizable intangible assets |  |  |
Licenses and others | 15 |  |  | 14 |
Non-compete agreements | 3 |  |  | 4 |
Customer lists | 15 |  |  | 12 |
Trademarks | 11 |  |  | 12 |
Hubs network | 4 |  |  | 4 |
Others | 3 |  |  | 3 |
Total intangible assets | 55 |  |  | 53 |
Accumulated amortization | (43) |  |  | (42) |
Total intangible assets, net | $ | 12 |  |  | $ | 11 |
Goodwill The changes in the carrying amount of goodwill for the nine-month period ended September 30, 2024 and the year ended December 31, 2023 are as follows:
| Nine Months Ended September 30, 2024
| Brazil |  | Mexico |  | Argentina |  | Chile |  | Colombia |  | Other countries |  | Total
| (In millions)
Balance, beginning of the year | $ | 64 |  |  | $ | 44 |  |  | $ | 10 |  |  | $ | 37 |  |  | $ | 6 |  |  | $ | 2 |  |  | $ | 163 |
Currency translation adjustments | (7) |  |  | (5) |  |  | — |  |  | (1) |  |  | (1) |  |  | — |  |  | (14) |
Balance, end of the period | $ | 57 |  |  | $ | 39 |  |  | $ | 10 |  |  | $ | 36 |  |  | $ | 5 |  |  | $ | 2 |  |  | $ | 149 |
| Year Ended December 31, 2023
| Brazil |  | Mexico |  | Argentina |  | Chile |  | Colombia |  | Other countries |  | Total
| (In millions)
Balance, beginning of the year | $ | 60 |  |  | $ | 39 |  |  | $ | 10 |  |  | $ | 37 |  |  | $ | 5 |  |  | $ | 2 |  |  | $ | 153 |
Currency translation adjustments | 4 |  |  | 5 |  |  | — |  |  | — |  |  | 1 |  |  | — |  |  | 10 |
Balance, end of the year | $ | 64 |  |  | $ | 44 |  |  | $ | 10 |  |  | $ | 37 |  |  | $ | 6 |  |  | $ | 2 |  |  | $ | 163 |
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 for the nine-month periods ended September 30, 2024 and 2023 amounted to $4 million and $4 million, respectively, while aggregate amortization expense for intangible assets totaled $2 million and $1 million for the three-month periods ended September 30, 2024 and 2023, respectively. The following table summarizes the remaining amortization of intangible assets (in millions) with definite useful life as of September 30, 2024:
For year to be ended December 31, 2024 | $ | 1 |
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 |
| $ | 8 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
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