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Goodwill and Intangible Assets (Tables) | 9 Months Ended
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Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of Goodwill by Segment | Changes in goodwill consisted of:
| Latin America |  | AMEA |  | Europe |  | North America |  | Total
| (in millions)
January 1, 2023 | $ | 1,421 |  |  | $ | 3,132 |  |  | $ | 8,009 |  |  | $ | 10,888 |  |  | $ | 23,450 |
Currency | 180 |  |  | (67) |  |  | 341 |  |  | 19 |  |  | 473 |
Acquisitions (1) | 6 |  |  | — |  |  | — |  |  | (33) |  |  | (27) |
Balance at December 31, 2023 | $ | 1,607 |  |  | $ | 3,065 |  |  | $ | 8,350 |  |  | $ | 10,874 |  |  | $ | 23,896 |
Currency | (199) |  |  | 11 |  |  | 80 |  |  | (15) |  |  | (123) |
Balance at September 30, 2024 | $ | 1,408 |  |  | $ | 3,076 |  |  | $ | 8,430 |  |  | $ | 10,859 |  |  | $ | 23,773 |
(1)Purchase price allocation adjustments for Ricolino and Clif Bar during 2023.
Schedule of Finite-Lived Intangible Assets | Intangible assets consisted of the following:
| As of September 30, 2024 |  | As of December 31, 2023
| Gross carrying amount |  | Accumulated amortization |  | Net carrying amount |  | Gross carrying amount |  | Accumulated amortization |  | Net carrying amount
| (in millions)
Definite-life intangible assets | $ | 3,303 |  |  | $ | (2,277) |  |  | $ | 1,026 |  |  | $ | 3,322 |  |  | $ | (2,155) |  |  | $ | 1,167 |
Indefinite-life intangible assets (1) (2) | 18,433 |  |  | — |  |  | 18,433 |  |  | 18,669 |  |  | — |  |  | 18,669 |
Total | $ | 21,736 |  |  | $ | (2,277) |  |  | $ | 19,459 |  |  | $ | 21,991 |  |  | $ | (2,155) |  |  | $ | 19,836 |
(1)In the third quarter of 2023, we recorded $26 million of intangible asset impairment charges related to one chocolate brand in the North America segment for $20 million and one biscuit brand in the Europe segment for $6 million. (2)In the third quarter of 2024, we recorded $153 million of intangible asset impairment charges related to two biscuit brands in the Europe segment for $143 million, one biscuit brand in the AMEA segment for $5 million and one candy and one biscuit brand in the Latin America segment for a total of $5 million.
Schedule of Indefinite-Lived Intangible Assets | Intangible assets consisted of the following:
| As of September 30, 2024 |  | As of December 31, 2023
| Gross carrying amount |  | Accumulated amortization |  | Net carrying amount |  | Gross carrying amount |  | Accumulated amortization |  | Net carrying amount
| (in millions)
Definite-life intangible assets | $ | 3,303 |  |  | $ | (2,277) |  |  | $ | 1,026 |  |  | $ | 3,322 |  |  | $ | (2,155) |  |  | $ | 1,167 |
Indefinite-life intangible assets (1) (2) | 18,433 |  |  | — |  |  | 18,433 |  |  | 18,669 |  |  | — |  |  | 18,669 |
Total | $ | 21,736 |  |  | $ | (2,277) |  |  | $ | 19,459 |  |  | $ | 21,991 |  |  | $ | (2,155) |  |  | $ | 19,836 |
(1)In the third quarter of 2023, we recorded $26 million of intangible asset impairment charges related to one chocolate brand in the North America segment for $20 million and one biscuit brand in the Europe segment for $6 million. (2)In the third quarter of 2024, we recorded $153 million of intangible asset impairment charges related to two biscuit brands in the Europe segment for $143 million, one biscuit brand in the AMEA segment for $5 million and one candy and one biscuit brand in the Latin America segment for a total of $5 million.

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