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GOODWILL, SOFTWARE AND OTHER INTANGIBLE ASSETS, NET
 12 Months Ended
Dec. 31, 2024
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, 2024 and 2023 are as follows:
(in millions)Amount
Balance at December 31, 2022$462 
Additions— 
Balance at December 31, 2023$462 
Impairment(1)
Balance at December 31, 2024$461 
As part of our 2024 restructuring discussed in Note 16, we have classified approximately $7 million of assets and an immaterial amount of liabilities as held for sale and compared the carrying value of those assets to their estimated fair value, which is based on their estimated selling price. This resulted in a $1 million goodwill impairment for 2024.
The following summarizes software and other intangible assets:
December 31, 2024December 31, 2023
(in millions)Weighted Average Amortization PeriodGross Carrying AmountAccumulated AmortizationImpairment
Loss
Net
Carrying Amount
Gross Carrying AmountAccumulated AmortizationNet Carrying Amount
Amortizable intangibles:
Software4 years423 (303)— 120 350 (255)95 
Customer relationships3 years45 (20)(24)1 49 (18)31 
Developed technology6 years65 (30)— 35 65 (19)46 
Total$533 $(353)$(24)$156 $464 $(292)$172 
Amortization of intangible assets during the years ended December 31, 2024, 2023 and 2022 was $68 million, $63 million and $54 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. In 2024, in connection with our restructuring discussed in Note 16, we recognized an impairment charge of $24 million related to customer relationships assets, which was classified in G&A in our Consolidated statement of income and comprehensive income. This impairment charge was determined using a discounted cash flows model and Level 3 fair value inputs related to the expected attrition rate of the cohort of clients acquired in previous business combinations. 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)202420232022
Capitalized internally developed software costs78 69 48 
Depreciation expense for capitalized internally developed software costs48 42 35 
Expense related to intangibles amortization in future periods as of December 31, 2024 is expected to be as follows:
Year ending December 31:Amount
(in millions)
2025$54 
202641 
202728 
202813 
202910 
2030 and thereafter4 
Total$150