Goodwill and Intangible Assets

9 Months Ended

Sep. 30, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

The following table presents goodwill activity for the period indicated (in millions):


	December 31, 2024		Goodwill Acquired		Adjustments		September 30, 2025
Goodwill	$	4,269	$	72	$	35	$	4,376

Goodwill acquired during the nine months ended September 30, 2025 relates to the acquisition of Caramel, an end-to-end online automotive transaction solution provider. The measurement period relating to the acquisition of Caramel ends in February 2026. The adjustments to goodwill for the nine months ended September 30, 2025 were primarily due to foreign currency translation.

Intangible Assets

Intangible assets are reported within “Other assets” in our condensed consolidated balance sheets. The following table presents components of identifiable intangible assets as of the dates indicated (in millions, except years):


	September 30, 2025							December 31, 2024
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Weighted Average Useful Life (Years)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Weighted Average Useful Life (Years)
Intangible assets:
Customer lists and user base	$	257	$	(218)	$	39	7	$	246	$	(200)	$	46	8
Marketing related	103		(69)		34		7	101		(63)		38		7
Developed technologies	270		(225)		45		4	239		(205)		34		4
All other	158		(157)		1		3	158		(157)		1		3
Total	$	788	$	(669)	$	119		$	744	$	(625)	$	119

Amortization expense for intangible assets was $12 million and $37 million for the three and nine months ended September 30, 2025, respectively, compared to $10 million and $27 million, respectively, during the same periods in 2024.

The following table presents expected future intangible asset amortization as of the date indicated (in millions):


	September 30, 2025
Remaining 2025	$	12
2026	42
2027	37
2028	9
2029	7
Thereafter	12
Total	$	119