XML 34 R14.htm IDEA: XBRL DOCUMENT
v3.24.0.1

Goodwill and Other Intangible Assets | 12 Months Ended
--- | ---
Dec. 31, 2023
Goodwill and Other Intangible Assets |
Goodwill and Other Intangible Assets | 5. Goodwill and Other Intangible Assets Goodwill was $9,254 million and $9,323 million as of December 31, 2023 and 2022, respectively. As discussed in Note 2, we perform our annual impairment test of goodwill balances for our reporting units using a measurement date of October 1. We will also perform interim tests if an impairment indicator exists. As a result of a longer-than-anticipated ramp toward full scale and profitability of a business engaged in accelerating film and plastic wrap recycling capabilities, we recorded a goodwill impairment charge of $168 million, with $22 million attributable to noncontrolling interests. This charge was partially offset by the recognition of $46 million of income related to the reversal of a liability for contingent consideration associated with our investment in such business. We have a controlling interest in the business, and it is, therefore, consolidated in our financial statements as part of our Recycling Processing and Sales segment. Fair value of the business was estimated using an income approach based on long-term projected discounted future cash flows of the reporting unit. Partially offsetting the decrease in our goodwill balance was a $90 million increase in goodwill associated with acquisitions primarily within our Collection and Disposal businesses. See Notes 11 and 17 for additional information. Goodwill is included within each segment’s total assets. For segment reporting purposes, our recycling facilities and recycling brokerage services are included within our Recycling Processing and Sales segment. Prior to 2023, our recycling facilities were reflected as a component of the respective Tier segments and our recycling brokerage services were included as a component of our “Other” operations. Reclassifications have been made to our prior period consolidated financial information to conform to the current year presentation. The following table presents changes in goodwill during the reported periods (in millions):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Recycling | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Collection and Disposal | ​ | Processing | ​ | ​ | ​ | ​ | ​ | ​
​ |  | East Tier |  | West Tier |  | Other Ancillary |  | and Sales |  | Other |  | Total
Balance, December 31, 2021 | ​ | $ | 5,008 | ​ | $ | 3,673 | ​ | $ | 25 | ​ | $ | 321 | ​ | $ | 1 | ​ | $ | 9,028
Acquired goodwill | ​ |  | 92 | ​ |  | 24 | ​ |  | 2 | ​ |  | 207 | ​ |  | — | ​ |  | 325
Divested goodwill | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | —
Foreign currency translation and other | ​ |  | (28) | ​ |  | (1) | ​ |  | — | ​ |  | (1) | ​ |  | — | ​ |  | (30)
Balance, December 31, 2022 | ​ | $ | 5,072 | ​ | $ | 3,696 | ​ | $ | 27 | ​ | $ | 527 | ​ | $ | 1 | ​ | $ | 9,323
Acquired goodwill | ​ |  | 13 | ​ |  | 70 | ​ |  | — | ​ |  | 7 | ​ |  | — | ​ |  | 90
Divested goodwill | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | —
Impairments | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (168) | ​ | ​ | — | ​ | ​ | (168)
Foreign currency translation and other | ​ |  | 9 | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | 9
Balance, December 31, 2023 | ​ | $ | 5,094 | ​ | $ | 3,766 | ​ | $ | 27 | ​ | $ | 366 | ​ | $ | 1 | ​ | $ | 9,254
​ Our other intangible assets consisted of the following as of December 31 (in millions):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Customer |  | Covenants |  | Licenses, |  | ​ | ​
​ | ​ | and Supplier | ​ | Not-to- | ​ | Permits | ​ | ​ | ​
​ |  | Relationships |  | Compete |  | and Other |  | Total
2023 |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Intangible assets | ​ | $ | 1,235 | ​ | $ | 46 | ​ | $ | 141 | ​ | $ | 1,422
Less: Accumulated amortization | ​ |  | (551) | ​ |  | (19) | ​ |  | (93) | ​ |  | (663)
​ | ​ | $ | 684 | ​ | $ | 27 | ​ | $ | 48 | ​ | $ | 759
2022 | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Intangible assets | ​ | $ | 1,288 | ​ | $ | 51 | ​ | $ | 141 | ​ | $ | 1,480
Less: Accumulated amortization | ​ | ​ | (543) | ​ |  | (23) | ​ |  | (87) | ​ | ​ | (653)
​ | ​ | $ | 745 | ​ | $ | 28 | ​ | $ | 54 | ​ | $ | 827
​ Amortization expense for other intangible assets was $129 million, $129 million and $143 million for 2023, 2022 and 2021, respectively. Additional information related to other intangible assets acquired through business combinations is included in Note 17. As of December 31, 2023 and 2022, we had $21 million and $19 million, respectively, of licenses, permits and other intangible assets that are not subject to amortization because they do not have stated expirations or have routine, administrative renewal processes. As of December 31, 2023, we expect annual amortization expense related to other intangible assets to be $119 million in 2024, $109 million in 2025, $86 million in 2026, $80 million in 2027 and $66 million in 2028.

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 350 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//350/tableOfContent + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration