XML 54 R12.htm IDEA: XBRL DOCUMENT v3.24.0.1

GOODWILL, SOFTWARE AND OTHER INTANGIBLE ASSETS, NET

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL, SOFTWARE AND OTHER INTANGIBLE ASSETS, NET

GOODWILL, SOFTWARE AND OTHER INTANGIBLE ASSETS, NET

Changes in goodwill for the years ended December 31, 2023 and 2022 are as follows:

(in millions)			Amount
Balance at December 31, 2021			$	294
Additions			168
Balance at December 31, 2022			$	462
Additions			—
Balance at December 31, 2023			$	462

The following summarizes software and other intangible assets:

						December 31, 2023									December 31, 2022
(in millions)			Weighted Average Amortization Period			Gross Carrying Amount			Accumulated Amortization			Net Carrying Amount			Gross Carrying Amount			Accumulated Amortization			Net Carrying Amount
Amortizable intangibles:
Software			3 years			350			(255)			95			278			(213)			65
Customer relationships			6 years			49			(18)			31			135			(93)			42
Developed technology			6 years			65			(19)			46			65			(9)			56
Total						$	464		$	(292)		$	172		$	478		$	(315)		$	163

Amortization of intangible assets during the years ended December 31, 2023, 2022 and 2021 was $63 million, $54 million and $50 million respectively. We evaluate the remaining useful life of intangible assets annually to determine whether events and circumstances warrant a revision to the estimated remaining useful life. During the year ended December 31, 2021, we recognized a $7 million impairment of a customer relationship intangible due to higher than expected attrition. There were no impairment charges recognized for the years ended December 31, 2023 and 2022.

The following table summarizes our capitalized internally developed software costs and related depreciation expense.

			Year Ended December 31,
(in millions)			2023			2022			2021
Capitalized internally developed software costs			69			48			33
Depreciation expense for capitalized internally developed software costs			42			35			33

Expense related to intangibles amortization in future periods as of December 31, 2023 is expected to be as follows:

Year ending December 31:			Amount (in millions)
2024			$	59
2025			46
2026			31
2027			23
2028			7
2029 and thereafter			3
Total			$	169

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://fasb.org/us-gaap/role/ref/legacyRef
-Topic 350
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//350/tableOfContent

+ Details

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