Goodwill and Intangible Assets

3 Months Ended

Mar. 31, 2026

Goodwill and Intangible Assets [Abstract]

Note 4. Goodwill and Intangible Assets

Goodwill and indefinite-lived intangible assets are not amortized and are subject to assessment for impairment on an annual basis, or more frequently if circumstances indicate a potential impairment. We perform our annual assessment for impairment on October 1 of every year.

The balance of goodwill was $959 million as of March 31, 2026 and December 31, 2025. There were no goodwill impairment charges during the three months ended March 31, 2026 and 2025.

The following table provides a summary of the components of our intangible assets:


	As of March 31, 2026							As of December 31, 2025
			Accumulated							Accumulated
(In millions)	Gross		Amortization			Net		Gross		Amortization			Net
Trade names(1)	$	141	$	—		$	141	$	141	$	—		$	141
Value of business acquired		148		(37	)		111		148		(30	)		118
Customer relationships(2)		133		(19	)		114		321		(213	)		108
Other(3)		31		(11	)		20		67		(35	)		32
Total	$	453	$	(67	)	$	386	$	676	$	(278	)	$	398

(1)

Not subject to amortization.

(2)

Customer relationships include homeowner, builder and broker relationships.

(3)

Other includes developed technology and other miscellaneous intangibles.

During 2026, we identified all intangible assets that were fully amortized and removed the fully amortized balances from the gross asset and accumulated amortization amounts. This did not have an impact on the consolidated financial statements. Amortization expense was $12 million and $13 million for the three months ended March 31, 2026 and 2025, respectively. There were no intangible asset impairment charges during the three months ended March 31, 2026 and 2025.