Intangible Assets

12 Months Ended

Dec. 31, 2024

Intangible Assets

The changes in the carrying amount of goodwill by reportable segment is as follows (in millions):


	Wholesale - North America		Europe		Specialty		Self Service		Total



Balance as of January 1, 2023, gross	$	1,430	$	2,191	$	456	$	275	$	4,352
Accumulated impairment losses as of January 1, 2023	(33)		—		—		—		(33)
Balance as of January 1, 2023	1,397		2,191		456		275		4,319
Business acquisitions	1,171		35		15		—		1,221


Exchange rate effects	(12)		72		—		—		60
Balance as of December 31, 2023	$	2,556	$	2,298	$	471	$	275	$	5,600
Business acquisitions and adjustments to previously recorded goodwill	4		9		1		—		14

Disposal of businesses	—		(5)		—		—		(5)
Exchange rate effects	(32)		(129)		—		—		(161)
Balance as of December 31, 2024	$	2,528	$	2,173	$	472	$	275	$	5,448

The components of other intangibles, net are as follows (in millions):


	December 31, 2024						December 31, 2023
	Gross Carrying Amount		Accumulated Amortization		Net		Gross Carrying Amount		Accumulated Amortization		Net
Customer and supplier relationships	$	1,150	$	(505)	$	645	$	1,176	$	(412)	$	764
Trade names and trademarks	513		(248)		265		536		(226)		310
Software and other technology related assets	425		(266)		159		404		(246)		158
Covenants not to compete	—		—		—		2		(2)		—
Total finite-lived intangible assets	2,088		(1,019)		1,069		2,118		(886)		1,232
Indefinite-lived trademarks	81		—		81		81		—		81
Total other intangible assets	$	2,169	$	(1,019)	$	1,150	$	2,199	$	(886)	$	1,313

Estimated useful lives for the finite-lived intangible assets are as follows:


	Method of Amortization	Useful Life
Customer and supplier relationships	Accelerated	3-20 years
Trade names and trademarks	Straight-line	3-30 years
Software and other technology related assets	Straight-line	3-15 years
Covenants not to compete	Straight-line	2-5 years

Amortization expense for intangibles was $182 million, $126 million, and $95 million during the years ended December 31, 2024, 2023, and 2022, respectively. Estimated amortization expense for each of the five years in the period ending December 31, 2029 is $174 million, $157 million, $138 million, $108 million and $92 million, respectively.