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GOODWILL AND INTANGIBLE ASSETS | 12 Months Ended
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Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND INTANGIBLE ASSETS | GOODWILL AND INTANGIBLE ASSETS Goodwill and intangible assets The composition of goodwill and intangible assets is as follows:
| December 31, 2024 |  | December 31, 2023
| (In millions)
Goodwill | $ | 149 |  |  | $ | 163 |
Intangible assets with indefinite lives |  |  |
Trademarks | 4 |  |  | 4 |
Amortizable intangible assets |  |  |
Licenses and others | 18 |  |  | 14 |
Non-compete agreements | 3 |  |  | 4 |
Customer lists | 14 |  |  | 12 |
Trademarks | 7 |  |  | 12 |
Hubs network | 3 |  |  | 4 |
Others | 3 |  |  | 3 |
Total intangible assets | 52 |  |  | 53 |
Accumulated amortization | (40) |  |  | (42) |
Total intangible assets, net | $ | 12 |  |  | $ | 11 |
Goodwill The changes in the carrying amount of goodwill for the years ended December 31, 2024 and 2023 are as follows:
| Year Ended December 31, 2024
| Brazil |  | Mexico |  | Argentina |  | Chile |  | Colombia |  | Other countries |  | Total
| (In millions)
Balance, beginning of the year | $ | 64 |  |  | $ | 44 |  |  | $ | 10 |  |  | $ | 37 |  |  | $ | 6 |  |  | $ | 2 |  |  | $ | 163 |
Business acquisition | 6 |  |  | 2 |  |  | 4 |  |  | — |  |  | — |  |  | — |  |  | 12 |
Currency translation adjustments | (14) |  |  | (7) |  |  | — |  |  | (4) |  |  | (1) |  |  | — |  |  | (26) |
Balance, end of the period | $ | 56 |  |  | $ | 39 |  |  | $ | 14 |  |  | $ | 33 |  |  | $ | 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 |
Effect of exchange rates changes | 4 |  |  | 5 |  |  | — |  |  | — |  |  | 1 |  |  | — |  |  | 10 |
Balance, end of the year | $ | 64 |  |  | $ | 44 |  |  | $ | 10 |  |  | $ | 37 |  |  | $ | 6 |  |  | $ | 2 |  |  | $ | 163 |
Intangible assets with definite useful life 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 totale d $5 million, $6 million and $9 million for the years ended December 31, 2024, 2023 and 2022, respectively. The following table summarizes the remaining amortization of intangible assets with definite useful life as of December 31, 2024:
For year to be ended December 31, 2025 | $ | 4 |
For year to be ended December 31, 2026 | 2 |
For year to be ended December 31, 2027 | 1 |
Thereafter | 1 |
| $ | 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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