Goodwill and Other Intangible Assets

3 Months Ended

Mar. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

The following table presents the changes in the carrying amount of goodwill for the three months ended March 31, 2024:


	General rentals		Specialty		Total
Balance at January 1, 2024 (1)	$	4,775	$	1,165	$	5,940
Goodwill related to acquisitions (2)	2		934		936
Foreign currency translation and other adjustments	(4)		(9)		(13)
Balance at March 31, 2024 (1)	$	4,773	$	2,090	$	6,863

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(1)The total carrying amount of goodwill for all periods in the table above is reflected net of $1.557 billion of accumulated impairment charges, which were primarily recorded in our general rentals segment.

(2)Includes goodwill adjustments for the effect on goodwill of changes to net assets acquired during the measurement period. The goodwill related to acquisitions above primarily reflects the March 2024 acquisition of Yak, which is discussed note 3 to our condensed consolidated financial statements.

Other intangible assets were comprised of the following at March 31, 2024 and December 31, 2023:


	March 31, 2024
	Weighted-Average Remaining Amortization Period	Gross Carrying Amount			Accumulated Amortization			Net Amount
Non-compete agreements	3 years		$	171		$	63		$	108
Customer relationships	6 years		$	2,523		$	1,967		$	556
Trade names and associated trademarks	2 years		$	8		$	6		$	2


	December 31, 2023
	Weighted-Average Remaining Amortization Period	Gross Carrying Amount			Accumulated Amortization			Net Amount
Non-compete agreements	4 years		$	176		$	58		$	118
Customer relationships	6 years		$	2,468		$	1,919		$	549
Trade names and associated trademarks	2 years		$	9		$	6		$	3

As discussed in note 3 to our condensed consolidated financial statements, in March 2024, we completed the acquisition of Yak. We have not yet obtained all the information required to finalize the valuations of the assets acquired and liabilities assumed, and to establish the value of the potential intangible assets, primarily because of the proximity of the acquisition date to the balance sheet date of March 31, 2024. As such, we have not yet recorded, as of March 31, 2024, any intangible assets associated with the acquisition.

Amortization expense for other intangible assets was $60 and $79 for the three months ended March 31, 2024 and 2023, respectively.

As of March 31, 2024, estimated amortization expense for other intangible assets for each of the next five years and thereafter is as follows:


2024		$	162
2025	177
2026	132
2027	87
2028	45
Thereafter	63
Total		$	666