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Software | 12 Months Ended
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Dec. 31, 2024
Research and Development [Abstract] |
Software | Software Software as of December 31, 2024 and 2023, consists of the following (in millions):
| 2024 |  | 2023
Software from acquisitions | $ | 880 |  |  | $ | 754 |
Capitalized software development costs | 3,151 |  |  | 2,775 |
Purchased software | 605 |  |  | 633 |
| 4,636 |  |  | 4,162 |
Accumulated amortization | (2,110) |  |  | (2,047) |
Total Software, net | $ | 2,526 |  |  | $ | 2,115 |
During the years ended December 31, 2024, 2023, and 2022, the Company entered into long-term payment arrangements of $158 million, $28 million, and $3 million, respectively, for certain purchased software. The related long-term payment obligations are classified as Other noncurrent liabilities, with the current portion recorded in Accounts payable, accrued and other liabilities, on our consolidated balance sheets. Periodic payments are included in Other investing activities, net, on the consolidated statements of cash flows. During the years ended December 31, 2024, 2023 and 2022, the Company recorded $19 million, $81 million and $31 million, respectively, of software asset impairments and $0 million, $18 million and $75 million, respectively, of incremental software amortization expense driven by the Company's platform modernization. Platform modernization includes sunsetting certain technology platforms, which resulted in shortened estimated useful lives and accelerated amortization methods primarily impacting the associated assets over an approximate three-year period, beginning in the third quarter of 2021. Amortization expense for software was $585 million, $588 million and $640 million for the years ended December 31, 2024, 2023 and 2022, respectively.

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- Definition The entire disclosure for research, development, and computer software activities, including contracts and arrangements to be performed for others and with federal government. Includes costs incurred (1) in a planned search or critical investigation aimed at discovery of new knowledge with the hope that such knowledge will be useful in developing a new product or service, a new process or technique, or in bringing about a significant improvement to an existing product or process; or (2) to translate research findings or other knowledge into a plan or design for a new product or process or for a significant improvement to an existing product or process whether intended for sale or the entity's use, during the reporting period charged to research and development projects, including the costs of developing computer software up to the point in time of achieving technological feasibility and in-process research and development acquired in a business combination consummated during the period. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 985 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/985-20/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 730 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483041/730-20-50-1 + Details
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