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Goodwill and Intangible Assets, Net

9 Months Ended

Sep. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]


7.						Goodwill and Intangible Assets, Net

Goodwill

There were no changes in the carrying amount of goodwill for the nine months ended September 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 September 30, 2024
	Gross Carrying Value		Accumulated Amortization		Net Carrying Value		Weighted-Average Remaining Useful Life

	(in millions)						(in years)
Developed technology	$	91	$	(55)	$	36	2.8
Customer relationships	27		(18)		9		1.7
Patents	14		(6)		8		4.8
Other	8		(3)		5		5.9
Total intangible assets, net	$	140	$	(82)	$	58

Amortization expense totaled $6 million and $6 million for the three months ended September 30, 2023 and 2024, respectively, and $20 million and $20 million for the nine months ended September 30, 2023 and 2024, respectively.

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


	Amount

Year ending December 31,	(in millions)
Remainder of 2024	$	6
2025	22
2026	17
2027	7
2028	4
Thereafter	2
Total	$	58