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Acquisitions (Tables)
 9 Months Ended
Sep. 30, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Business Combination
The following summarizes the consideration transferred at closing for the Industrious acquisition (dollars in millions):
Cash consideration$369 
Fair value of existing equity method investment in Industrious373 
Forgiveness of note receivable50 
Other49 
Total consideration$841 
Schedule of Excess Purchase Price Over Estimated Fair Value of Net Assets Acquired
The following represents the summary of the excess purchase price over the fair value of net assets acquired (dollars in millions):
Purchase price$841 
Less: Estimated fair value of net assets acquired270 
Excess purchase price over estimated fair value of net assets acquired$571 
Schedule of Aggregate Estimated Fair Values of Assets Acquired and Liabilities Assumed
The following table summarizes the fair values assigned to the identified assets acquired and liabilities assumed at the acquisition date on January 16, 2025 (dollars in millions):
Assets Acquired:
Current assets$98 
Property, plant & equipment42 
Intangible assets247 
Goodwill571 
Right-of-use and other assets694 
Total assets acquired1,652 
Liabilities Assumed:
Current liabilities123 
Operating lease and other liabilities688 
Total liabilities assumed811 
Estimated Fair Value of Net Assets Acquired$841 
The following table identifies the company’s allocation of purchase price to goodwill and other intangible assets by category (dollars in millions):
Amount Assigned at Acquisition DateWeighted-Average Life
(in years)
Goodwill$20 N/A
Customer relationships16 11 years
Total$36 
Schedule of Trademarks Acquired as Part of Business Combination
In connection with the Industrious acquisition, below is a summary of the value allocated to the intangible assets acquired (dollars in millions):
Asset ClassAmortization
Period		Amount
Assigned at
Acquisition
Date
Customer relationships7 years$90 
Tradenames
11-13 years
137 
Management agreements10 years20 
Total identified intangible assets$247