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GOODWILL AND INTANGIBLE ASSETS
 12 Months Ended
Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND INTANGIBLE ASSETS GOODWILL AND INTANGIBLE ASSETS
For the year ended December 31, 2023 there were no additions to goodwill. For the year ended December 31, 2022 the carrying amount of goodwill increased by $4 million due to acquisitions. For more information on significant acquisitions, refer to “Note 16 — Business Acquisitions”.
During the fourth quarter of 2022, the market price of our common stock declined significantly. As such, the Company determined that an indicator of potential impairment existed and decided to perform an interim quantitative test for goodwill impairment. Based on the quantitative analysis, the Company recorded a goodwill impairment charge of $60 million for the year ended December 31, 2022. There was no impairment of goodwill identified for the years ended December 31, 2023 and December 31, 2021.
Intangible assets subject to amortization consisted of the following as of December 31, 2023 and 2022, respectively (in millions, except years):
December 31, 2023
Gross
Carrying
Amount
Accumulated
Amortization
Net
Carrying
Amount
Remaining Weighted Average Useful Life
(Years)
Developed technology$17 $(13)$4 0.8
Customer relationships7 (6)1 0.7
Trademarks5 (5)— 0.7
Intangible assets – net$29 $(24)$5 
December 31, 2022
Gross
Carrying
Amount
Accumulated
Amortization
Net
Carrying
Amount
Remaining Weighted Average Useful Life
(Years)
Developed technology$17 $(9)$8 1.8
Customer relationships7 (5)2 1.7
Trademarks5 (3)2 1.7
Intangible assets – net$29 $(17)$12 
Amortization expense for intangible assets was $7 million, $9 million, and $4 million for the years ended December 31, 2023, 2022, and 2021, respectively.
As of December 31, 2023, expected amortization of intangible assets is as follows (in millions):
Fiscal Years
2024$5 
Total$5