GOODWILL, INTANGIBLE ASSETS AND OTHER LONG-LIVED ASSETS (Tables)

12 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

The changes in the balance of goodwill for the years ended December 31, 2020 and 2019 consist of the following (in millions):


	2020		2019
Balance, beginning of year	$	2,913	$	2,910
Acquisitions	—		7
Impairments	(1,062)		—
Foreign currency translation adjustments	44		(4)
Balance, end of year (1)	$	1,895	$	2,913

(1) The balance of goodwill as of December 31, 2020 and 2019 is stated net of cumulative impairment charges of $2.0 billion and $941 million, respectively.

Intangible assets

The Company's intangible assets at December 31, 2020 and 2019 consist of the following (in millions):


	December 31, 2020						December 31, 2019
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Amortization Period

Supply and distribution agreements	$	1,136	$	(552)	$	584	$	1,100	$	(472)	$	628	3 - 20 years

Technology	174		(144)		30		170		(129)		41		2 - 7 years

Internet domain names	44		(37)		7		40		(32)		8		5 - 20 years

Trade names	1,824		(633)		1,191		1,811		(534)		1,277		4 -20 years

Other intangible assets	2		(2)		—		2		(2)		—		Up to 15 years
Total intangible assets	$	3,180	$	(1,368)	$	1,812	$	3,123	$	(1,169)	$	1,954

Annual estimated amortization expense for intangible assets for the next five years and thereafter

The estimated annual amortization expense for intangible assets for the next five years and thereafter is expected to be as follows (in millions):


2021	$	163
2022	160
2023	158
2024	157
2025	152
Thereafter	1,022
	$	1,812

The Company reviews long-lived assets, including intangible assets and operating lease assets, whenever events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable. The assessment of possible impairment is based upon the ability to recover the carrying value of the assets from the estimated undiscounted future net cash flows, before interest and taxes, of the related asset group. Due to the significant and negative financial impact of the COVID-19 pandemic (see Note 2), at March 31, 2020, the Company performed the recoverability test of its long-lived assets and concluded that there was no impairment. At September 30, 2020, for OpenTable and KAYAK, the Company performed the recoverability test of its long-lived assets due to additional impairment indicators and concluded that there was no impairment. At December 31, 2020, no additional impairment indicators were identified for the Company's long-lived assets.