GOODWILL AND INTANGIBLE ASSETS

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS

A substantial portion of the Company's intangible assets and goodwill relates to the acquisitions of KAYAK, OpenTable, and Getaroom. See Note 18 for additional information related to the acquisition of Getaroom in December 2021.

Goodwill

The changes in the balance of goodwill for the years ended December 31, 2023 and 2022 consist of the following (in millions): 

	Year Ended December 31,
	2023		2022
Balance, beginning of year	$	2,807	$	2,887
Foreign currency translation adjustments and other adjustments (1)	19		(80)
Balance, end of year (2)	$	2,826	$	2,807

(1)    During the year ended December 31, 2022, measurement period adjustments relating to the acquisition of Getaroom resulted in a decrease to goodwill of $38 million.

(2)    The balance of goodwill as of December 31, 2023 and 2022 is stated net of cumulative impairment charges of $2 billion.

At September 30, 2023, the Company performed its annual goodwill impairment test and concluded that there was no impairment of goodwill.

Intangible Assets

The Company's intangible assets consist of the following (in millions):

	December 31, 2023						December 31, 2022
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Amortization Period
Trade names	$	1,812	$	(911)	$	901	$	1,806	$	(812)	$	994	3 - 20 years
Supply and distribution agreements	1,402		(759)		643		1,386		(658)		728		3 - 20 years
Other intangible assets	330		(261)		69		330		(223)		107		Up to 20 years
Total intangible assets	$	3,544	$	(1,931)	$	1,613	$	3,522	$	(1,693)	$	1,829

Amortization expense for intangible assets was $222 million, $224 million, and $162 million for the years ended December 31, 2023, 2022, and 2021, respectively.

The estimated future annual amortization expense for the Company's intangible assets at December 31, 2023 is as follows (in millions):

2024	$	222
2025	214
2026	180
2027	170
2028	169
Thereafter	658
	$	1,613