XML 154 R12.htm IDEA: XBRL DOCUMENT
v3.25.0.1

Intangible Assets | 12 Months Ended
--- | ---
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Intangible Assets | Intangible Assets Goodwill Changes to our reportable segments effective January 1, 2024, as described in Note 12, resulted in a change to our reporting units. As of this effective date, we performed a qualitative assessment of the goodwill under our former reporting units to determine if it was more likely than not that the reporting unit’s goodwill was impaired. As a result of this analysis, we did not identify any indications that any of the carrying amounts of the reporting units exceeded their respective fair values. We then performed a quantitative assessment to reallocate goodwill to our new reporting units using a relative fair value approach. The fair value of the reporting units was determined using a combination of the income and market approaches. We evaluated these new reporting units for impairment as of January 1, 2024, and determined the fair value was in excess of carrying value for all our reporting units, which indicated no impairments were present. The original carrying value of goodwill by reportable segment and All Other as of December 31, 2024 is presented below. There were no accumulated impairment charges by reportable segment.
|  | T&HS |  | F&II - LATAM |  | F&II - U.S. /Canada |  | All Other |  | Total
Balance as of January 1, 2024 |  | 388 |  |  | 146 |  |  | 296 |  |  | 88 |  |  | 918 |
Cumulative translation adjustment |  | (6) |  |  | (4) |  |  | (1) |  |  | (1) |  |  | (12) |
Balance as of December 31, 2024 |  | $ | 382 |  |  | $ | 142 |  |  | $ | 295 |  |  | $ | 87 |  |  | $ | 906 |
We concluded that as of our January 1, 2024 and July 1, 2024 impairment assessments, there were no impairments to goodwill. Other Intangible Assets A summary of other intangible assets was as follows:
December 31, 2024 |  | Gross |  | Accumulated Amortization |  | Net
Trademarks/tradenames (indefinite-lived) |  | $ | 143 |  |  | $ | — |  |  | $ | 143 |
Patents |  | 31 |  |  | (12) |  |  | 19 |
Customer relationships |  | 356 |  |  | (188) |  |  | 168 |
Technology |  | 111 |  |  | (104) |  |  | 7 |
Other |  | 41 |  |  | (20) |  |  | 21 |
Total other intangible assets |  | $ | 682 |  |  | $ | (324) |  |  | $ | 358 |
December 31, 2023 |  | Gross |  | Accumulated Amortization |  | Net
Trademarks/tradenames (indefinite-lived) |  | $ | 143 |  |  | $ | — |  |  | $ | 143 |
Patents |  | 31 |  |  | (9) |  |  | 22 |
Customer relationships |  | 358 |  |  | (170) |  |  | 188 |
Technology |  | 111 |  |  | (103) |  |  | 8 |
Other |  | 41 |  |  | (17) |  |  | 24 |
Total other intangible assets |  | $ | 684 |  |  | $ | (299) |  |  | $ | 385 |
Amortization expense related to intangible assets was $26 million in 2024, 2023, and 2022. Based on the results of our impairment assessments as of January 1, 2024 and July 1, 2024, we concluded that there were no impairments to our indefinite-lived other intangible assets. Estimated future amortization expense related to intangible assets is as follows:
Years ending December 31, |  | Estimated Future Amortization Expense
2025 |  | $ | 26
2026 |  | 26
2027 |  | 26
2028 |  | 26
2029 |  | 26

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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 + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration