Goodwill and Intangible Assets

6 Months Ended

Jun. 30, 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 $963 million and $959 million as of June 30, 2026 and December 31, 2025, respectively. There were no goodwill impairment charges during the six months ended June 30, 2026 and 2025. During the six months ended June 30, 2026, we identified an additional required payment to 2-10 HBW Acquisition, L.P., a Delaware limited partnership and the seller of 2-10 HBW, under the provisions of the purchase agreement that should have been recognized as part of the purchase price allocation. This resulted in an increase to goodwill of $4 million. The adjustment was not material to the prior and current period consolidated financial statements.

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


	As of June 30, 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		(43	)		105		148		(30	)		118
Customer relationships(2)		133		(23	)		110		321		(213	)		108
Other(3)		31		(13	)		18		67		(35	)		32
Total	$	453	$	(79	)	$	374	$	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 for each of the three months ended June 30, 2026 and 2025, and $24 million and $25 million for the six months ended June 30, 2026 and 2025, respectively. There were no intangible asset impairment charges during the six months ended June 30, 2026 and 2025.