Goodwill and Intangible Assets

3 Months Ended

Mar. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

Goodwill and Intangible Assets

Goodwill

The following table presents goodwill activity for the period indicated (in millions):

	December 31, 2022		Goodwill Acquired		Adjustments		March 31, 2023
Goodwill	$	4,262	$	20	$	5	$	4,287

Goodwill acquired during the three months ended March 31, 2023 relates to the acquisition of 3PM Shield, a provider of AI-based marketplace compliance solutions, on February 13, 2023 and the revised valuation of the intangible assets acquired from the 2022 acquisition of TCGplayer. The adjustments to goodwill during the three months ended March 31, 2023 were primarily due to foreign currency translation.

Intangible Assets

Intangible assets are reported within other assets in our condensed consolidated balance sheet. The following table presents components of identifiable intangible assets as of the dates indicated (in millions, except years):

	March 31, 2023							December 31, 2022
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Weighted Average Useful Life (Years)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Weighted Average Useful Life (Years)
Intangible assets:
Customer lists and user base	$	246	$	(196)	$	50	8	$	190	$	(190)	$	—	0
Marketing related	81		(55)		26		6	68		(53)		15		7
Developed technologies	235		(179)		56		4	275		(177)		98		5
All other	159		(157)		2		3	159		(157)		2		3
Total	$	721	$	(587)	$	134		$	692	$	(577)	$	115

Amortization expense for intangible assets was $10 million and $1 million for the three months ended March 31, 2023 and 2022, respectively.

The following table presents expected future intangible asset amortization as of the date indicated (in millions):

	March 31, 2023
Remaining 2023	$	25
2024	33
2025	30
2026	21
Thereafter	25
Total	$	134