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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

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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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