Acquisitions (Tables)

9 Months Ended

Sep. 30, 2024

Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]

The initial purchase price is as follows (in millions):


Cash paid for 70% majority interest of Roar shares	$	269
Less: Cash acquired net of noncontrolling interests	1
Net cash paid for 70% majority interest of Roar	268
Initial fair value of contingent consideration	48
Total initial consideration	$	316

The initial purchase price was as follows (in millions):


Cash consideration	$	215
Less: Cash acquired	1
Net cash paid	214
Settlement of prepaid asset	8
Acquisition date fair value of previously held interests	92
Total consideration	$	314

Schedule of Fair Value Amounts Expected to be Recognized for Assets Acquired and Liabilities Assumed

The following table summarizes the fair value amounts recognized for the assets acquired and liabilities assumed as of the acquisition date:


	Fair value as of January 2, 2024


	(In millions)
Goodwill	$	268
Prepaid expenses and other assets	3
Other intangible assets	183
Total assets acquired	454

Accounts payable and accrued liabilities	2
Total liabilities assumed	2

Noncontrolling interests (fair value determined using income approach)	136
Total liabilities assumed and non-controlling interests	138

Net assets acquired	$	316

The following table summarizes the fair value amounts recognized for the assets acquired and liabilities assumed as of the acquisition date (in millions):


	Fair value as of July 18, 2024


Goodwill	$	162
Prepaid expenses and other assets	5
Other intangible assets	149
Total assets acquired	316

Accounts payable and accrued liabilities	2
Total liabilities assumed	2
Net assets acquired	$	314

Schedule of Gross Carrying Value and Weighted Average Estimated Useful Lives of Other Intangible Assets Acquired

The gross carrying value and weighted average estimated useful lives of Other intangible assets acquired in the Roar acquisition consist of the following:


	Gross Carrying Value		Estimated Useful Life
Other intangible assets:	(In millions)		(In years)
Customer relationships	$	179	12
Definite lived trademarks, tradenames, and other	4		10
Total Other intangible assets	$	183

The gross carrying value and weighted average estimated useful lives of Other intangible assets acquired in the PALH acquisition consist of the following:


	Gross Carrying Value		Estimated Useful Life
Other intangible assets:	(In millions)		(In years)
Customer relationships	$	131	20
Definite lived trademarks, tradenames, and other	18		5 to 10
Total Other intangible assets	$	149