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Goodwill and Intangible Assets, Net

6 Months Ended

Jun. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets, Net

7. Goodwill and Intangible Assets, Net

Goodwill

There were no changes in the carrying amount of goodwill for the six months ended June 30, 2024.

Intangible Assets, Net

Intangible assets, net, resulting from business combinations and asset purchases consisted of the following:

			As of December 31, 2023
			Gross Carrying Value						Accumulated Amortization						Net Carrying Value						Weighted-Average Remaining Useful Life
			(in millions)																		(in years)
Developed technology			$	91					$	(43)					$	48					3.3
Customer relationships			27						(13)						14						2.3
Patents			13						(4)						9						5.5
Other			8						(2)						6						5.9
Total intangible assets, net			$	139					$	(62)					$	77

			As of June 30, 2024
			Gross Carrying Value						Accumulated Amortization						Net Carrying Value						Weighted-Average Remaining Useful Life
			(in millions)																		(in years)
Developed technology			$	91					$	(51)					$	40					3.0
Customer relationships			27						(17)						10						1.9
Patents			14						(5)						9						5.1
Other			8						(3)						5						5.9
Total intangible assets, net			$	140					$	(76)					$	64

Amortization expense totaled $7 million and $7 million for the three months ended June 30, 2023 and 2024, respectively, and $14 million and $14 million for the six months ended June 30, 2023 and 2024, respectively.

As of June 30, 2024, the remaining intangible asset amortization was as follows:

			Amount
Year ending December 31,			(in millions)
Remainder of 2024			$	12
2025			22
2026			17
2027			7
2028			4
Thereafter			2
Total			$	64

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- References

No definition available.

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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

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