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GOODWILL AND INTANGIBLE ASSETS

9 Months Ended

Sep. 30, 2025

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:

			September 30, 2025						December 31, 2024
			(In millions)
Goodwill			$	161					$	149
Intangible assets with indefinite lives
Trademarks			4						4
Amortizable intangible assets
Naming rights			31						—
Licenses and others			19						18
Non-compete agreements			3						3
Customer lists			15						14
Trademarks			7						7
Hubs network			4						3
Others			3						3
Total intangible assets			86						52
Accumulated amortization			(48)						(40)
Total intangible assets, net			$	38					$	12

Goodwill

The changes in the carrying amount of goodwill for the nine-month period ended September 30, 2025 and the year ended December 31, 2024 are as follows:

			Nine Months Ended September 30, 2025
			Brazil						Mexico						Argentina						Chile						Colombia						Other countries						Total
			(In millions)
Balance, beginning of the year			$	56					$	39					$	14					$	33					$	5					$	2					$	149
Currency translation adjustments			8						4						—						—						—						—						12
Balance, end of the period			$	64					$	43					$	14					$	33					$	5					$	2					$	161
			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 acquisitions			6						2						4						—						—						—						12
Currency translation adjustments			(14)						(7)						—						(4)						(1)						—						(26)
Balance, end of the year			$	56					$	39					$	14					$	33					$	5					$	2					$	149

Intangible assets with finite useful life

Intangible assets with finite useful life are comprised of naming rights, 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, 2025 and 2024 amounted to $6 million and $4 million, respectively, while aggregate amortization expense for intangible assets totaled $2 million and $2 million for the three-month periods ended September 30, 2025 and 2024, respectively.

The following table summarizes the remaining amortization of intangible assets (in millions) with finite useful life as of September 30, 2025:

For year to be ended December 31, 2025			$	4
For year to be ended December 31, 2026			8
For year to be ended December 31, 2027			7
For year to be ended December 31, 2028			7
Thereafter			8
			$	34

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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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