INTANGIBLE ASSETS AND GOODWILL

12 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

The following table details the composition of our intangible assets at year-end 2022 and 2021:


($ in millions)	At Year-End 2022		At Year-End 2021
Definite-lived Intangible Assets
Costs incurred to obtain contracts with customers	$	1,995	$	1,875
Contracts acquired in business combinations and other	2,173		2,187
	4,168		4,062
Accumulated amortization	(1,172)		(1,052)
	2,996		3,010
Indefinite-lived Intangible Brand Assets	5,751		5,916
	$	8,747	$	8,926

We capitalize direct costs that we incur to obtain management, franchise, and license agreements. We amortize these costs on a straight-line basis over the initial term of the agreements, ranging from 15 to 30 years. In 2020, we recorded impairment charges totaling $64 million in the “Contract investment amortization” caption of our Income Statements to reduce the carrying amount of certain capitalized costs incurred to obtain contracts with customers, primarily due to the impact of COVID-19, most of which we recorded in our U.S. & Canada business segment.

For contracts acquired in business combinations and other intangible assets, we recorded amortization expense of $197 million in 2022, $165 million in 2021, and $97 million in 2020 (of which $83 million in 2022, $62 million in 2021, and none in 2020 was included in the “Reimbursed expenses” caption of our Income Statements). For these assets, we estimate that our aggregate amortization expense will be $165 million in 2023, $143 million in 2024, $125 million in 2025, $108 million in 2026, and $93 million in 2027.

The following table details the carrying amount of our goodwill at year-end 2022 and 2021:


($ in millions)	U.S. & Canada		International		Total Goodwill










Balance at year-end 2021	$	5,348	$	3,725	$	9,073



Foreign currency translation	(25)		(176)		(201)




Balance at year-end 2022	$	5,323	$	3,549	$	8,872