Goodwill and Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Finite-Lived Intangible Assets

Finite-lived intangible assets were as follows:


	December 31, 2022
	Gross Carrying Value		Accumulated Amortization		Net Carrying Value
	(in millions)
Management and franchise contracts:
International management contracts recorded at Merger(1)	$	293	$	(278)	$	15
Contract acquisition costs	961		(206)		755
Development commissions and other	149		(32)		117
	$	1,403	$	(516)	$	887
Other intangible assets:
Capitalized software costs	$	615	$	(515)	$	100
Leases(1)	124		(80)		44
Hilton Honors(1)	335		(318)		17
	$	1,074	$	(913)	$	161


	December 31, 2021
	Gross Carrying Value		Accumulated Amortization		Net Carrying Value
	(in millions)
Management and franchise contracts:
International management contracts recorded at Merger(1)	$	310	$	(275)	$	35
Contract acquisition costs	780		(170)		610
Development commissions and other	140		(27)		113
	$	1,230	$	(472)	$	758
Other intangible assets:
Capitalized software costs	$	561	$	(460)	$	101
Leases(1)	138		(83)		55
Hilton Honors(1)	339		(301)		38
	$	1,038	$	(844)	$	194

____________

(1)Represents intangible assets that were initially recorded at fair value at the time of the Merger.

Schedule of Amortization of Finite-lived Intangible Assets

Amortization of our finite-lived intangible assets was as follows:


	Year Ended December 31,
	2022		2021		2020
	(in millions)
Recognized in depreciation and amortization expenses(1)	$	116	$	135	$	274
Recognized as a reduction of franchise and licensing fees and base and other management fees	38		32		29

____________

(1)Includes amortization expense of $45 million, $47 million and $164 million for the years ended December 31, 2022, 2021 and 2020, respectively, associated with assets that were initially recorded at fair value at the time of the Merger, some of which fully amortized during 2020.

Schedule of Future Amortization Expense of Finite-lived Intangible Assets

As of December 31, 2022, we estimate future amortization expense of our finite-lived intangible assets that will be recognized in depreciation and amortization expenses to be as follows:


Year	(in millions)
2023	$	96
2024	46
2025	25
2026	11
2027	9
Thereafter	106
	$	293