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Goodwill and Intangible Assets | 6 Months Ended
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Jun. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets | Note 5. Goodwill and Intangible Assets Goodwill Changes in goodwill consisted of:
| Latin America |  | AMEA |  | Europe |  | North America |  | Total
| (in millions)
Balance at December 31, 2024 | $ | 1,316 |  |  | $ | 3,040 |  |  | $ | 7,842 |  |  | $ | 10,819 |  |  | $ | 23,017 |
Currency | 143 |  |  | 71 |  |  | 1,073 |  |  | 37 |  |  | 1,324 |
Other (1) | — |  |  | 3 |  |  | — |  |  | — |  |  | 3 |
Balance at June 30, 2025 | $ | 1,459 |  |  | $ | 3,114 |  |  | $ | 8,915 |  |  | $ | 10,856 |  |  | $ | 24,344 |
(1)Relates to purchase price allocation adjustments for Evirth. See Note 2, Acquisitions and Divestitures for additional information. Intangible Assets Intangible assets consisted of the following:
| As of June 30, 2025 |  | As of December 31, 2024
| Gross carrying amount |  | Accumulated amortization |  | Net carrying amount |  | Gross carrying amount |  | Accumulated amortization |  | Net carrying amount
| (in millions)
Indefinite-life intangible assets | $ | 18,691 |  |  | $ | — |  |  | $ | 18,691 |  |  | $ | 17,770 |  |  | $ | — |  |  | $ | 17,770 |
Definite-life intangible assets | 3,473 |  |  | (2,435) |  |  | 1,038 |  |  | 3,306 |  |  | (2,228) |  |  | 1,078 |
Total | $ | 22,164 |  |  | $ | (2,435) |  |  | $ | 19,729 |  |  | $ | 21,076 |  |  | $ | (2,228) |  |  | $ | 18,848 |
Indefinite-life intangible assets consist principally of brand names purchased through our acquisitions of Nabisco Holdings Corp., the global LU biscuit business of Groupe Danone S.A., Cadbury Limited and Clif Bar. Definite-life intangible assets consist primarily of customer-related intangibles, process technology and trademarks. Amortization expense for intangible assets was $38 million and $37 million for the three months ended June 30, 2025 and 2024, respectively, and $75 million for both the six months ended June 30, 2025 and 2024, respectively. Impairment Assessment: We test our reporting units and indefinite-life intangible assets for impairment annually as of July 1, or more frequently if events or circumstances indicate it is more likely than not that the fair value of a reporting unit or brand is less than its carrying amount. During the second quarter of 2025, we evaluated our goodwill impairment and intangible asset impairment risk through an assessment of potential triggering events. We considered qualitative and quantitative information in our assessment and concluded there were no impairment indicators. During our 2024 annual impairment testing, we recorded $153 million of asset impairment charges in the third quarter of 2024 related to two biscuit indefinite-life intangible assets in the Europe segment, one biscuit indefinite-life intangible asset in the AMEA segment and one candy and one biscuit indefinite-life intangible asset in the Latin America segment. Additionally, we identified thirteen indefinite-life intangible assets that each had a fair value in excess of book value of 10% or less. The aggregate book value of the thirteen indefinite-life intangible assets was $3.1 billion as of June 30, 2025. While no triggering events were identified for those indefinite-life intangible assets during the six months ended June 30, 2025, we are continuing to closely monitor their performance. If there are adverse changes to the related sales and earnings forecasts in the future, whether caused by business-specific or broader macroeconomic factors, one or more of those indefinite-life intangible assets could become impaired.

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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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