v3.24.0.1
Goodwill and Intangible Assets (Tables)
 12 Months Ended
Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill by Reporting Unit

The following table presents the net carrying amount of goodwill allocated by segment, and changes during 2023:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(In millions)

 

Balance at
December 31,
2022

 

 

Acquisitions

 

 

Divestitures

 

 

Impairment

 

 

Translation

 

 

Balance at
December 31,
2023

 

Americas

 

$

724

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

724

 

Europe, Middle East and Africa (1)

 

 

232

 

 

 

—

 

 

 

—

 

 

 

(230

)

 

 

(2

)

 

 

—

 

Asia Pacific

 

 

58

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(1

)

 

 

57

 

 

 

$

1,014

 

 

$

—

 

 

$

—

 

 

$

(230

)

 

$

(3

)

 

$

781

 

The following table presents the net carrying amount of goodwill allocated by segment, and changes during 2022:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(In millions)

 

Balance at
December 31,
2021

 

 

Acquisitions

 

 

Divestitures

 

 

Translation

 

 

Balance at
December 31,
2022

 

Americas

 

$

709

 

 

$

15

 

 

$

—

 

 

$

—

 

 

$

724

 

Europe, Middle East and Africa

 

 

231

 

 

 

18

 

 

 

(3

)

 

 

(14

)

 

 

232

 

Asia Pacific

 

 

64

 

 

 

—

 

 

 

—

 

 

 

(6

)

 

 

58

 

 

 

$

1,004

 

 

$

33

 

 

$

(3

)

 

$

(20

)

 

$

1,014

 

 

(1) The decrease during 2023 was due to the EMEA goodwill impairment. The accumulated amount of impairment recognized against EMEA's goodwill is $412 million.
Indefinite-Lived Intangible Assets

The following table presents information about intangible assets at December 31:

 

 

 

2023

 

 

2022

 

(In millions)

 

Gross
Carrying
Amount(1)

 

 

Accumulated
Amortization(1)

 

 

Net
Carrying
Amount

 

 

Gross
Carrying
Amount(1)

 

 

Accumulated
Amortization(1)

 

 

Net
Carrying
Amount

 

Intangible assets with indefinite lives

 

$

687

 

 

$

(6

)

 

$

681

 

 

$

687

 

 

$

(6

)

 

$

681

 

Customer relationships

 

 

350

 

 

 

(77

)

 

 

273

 

 

 

350

 

 

 

(48

)

 

 

302

 

Other intangible assets

 

 

30

 

 

 

(25

)

 

 

5

 

 

 

31

 

 

 

(20

)

 

 

11

 

Trademarks and patents

 

 

29

 

 

 

(19

)

 

 

10

 

 

 

30

 

 

 

(20

)

 

 

10

 

 

 

$

1,096

 

 

$

(127

)

 

$

969

 

 

$

1,098

 

 

$

(94

)

 

$

1,004

 

 

(1)
Includes impact of foreign currency translation.