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GOODWILL AND INTANGIBLE ASSETS

12 Months Ended

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 totaled $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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- References

No definition available.

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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

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