Goodwill and Other Intangible Assets

6 Months Ended

Jun. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

7. Goodwill and Other Intangible Assets

GOODWILL

As a result of the Foursight Acquisition, we recorded $37 million of goodwill, which we report in our Consumer and Insurance segment. See Note 2 for further information.

Changes in the carrying amount of goodwill were as follows:

(dollars in millions)	Consumer and Insurance
Six Months Ended June 30, 2024
Balance at beginning of period	$	1,437
Goodwill recognized upon acquisition	37
Balance at end of period	$	1,474

We did not record any impairments to goodwill during the six months ended June 30, 2024.

OTHER INTANGIBLE ASSETS

The gross carrying amount and accumulated amortization, in total and by major intangible asset class were as follows:

(dollars in millions)	Gross Carrying Amount *		Accumulated Amortization		Net Other Intangible Assets
June 30, 2024
Trade names	$	224	$	—	$	224
Licenses	25		—		25
Customer relationships	22		(1)		21
VOBA	105		(93)		12
Other	7		—		7
Total	$	383	$	(94)	$	289
December 31, 2023
Trade names	$	220	$	—	$	220
Licenses	25		—		25
VOBA	105		(91)		14
Other	1		—		1
Total	$	351	$	(91)	$	260

*    In connection with the Foursight Acquisition, we recorded $32 million of intangible assets.

Amortization expense was immaterial for the six months ended June 30, 2024, and 2023