Goodwill and Intangible Assets, Net

12 Months Ended

Dec. 31, 2018

Goodwill And Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets, Net

NOTE 9: GOODWILL AND INTANGIBLE ASSETS, NET

The following table summarizes our goodwill activity by reportable segment for the periods presented:

	Hotel		Non-Hotel			Consolidated
	(in millions)
Balance as of December 31, 2016	$	451	$	285		$	736
Other adjustments (1)		-		22			22
Balance as of December 31, 2017	$	451	$	307		$	758
Acquisitions (2)		-		11			11
Other adjustments (1)		-		(13	)		(13	)
Balance as of December 31, 2018	$	451	$	305		$	756

(1) Primarily related to impact of changes in foreign currency exchange rates to goodwill.

(2) The additions to goodwill relate to our business acquisitions. Refer to “Note 3: Acquisitions and Other Investments,” for further information.  

Intangible assets, which were acquired in business combinations and recorded at fair value on the date of purchase, consist of the following for the periods presented:

	December 31,
		2018			2017
	(in millions)
Intangible assets with definite lives	$	228		$	224
Less: accumulated amortization		(140	)		(112	)
Intangible assets with definite lives, net		88			112
Intangible assets with indefinite lives		30			30
Total	$	118		$	142

Amortization expense was $34 million, $32 million, and $32 million, respectively, for the years ended December 31, 2018, 2017 and 2016. Our indefinite-lived intangible assets relate to trade names and trademarks. There were no impairment charges recognized to our consolidated statement of operations during the years ended December 31, 2018, 2017 and 2016 related to our goodwill or intangible assets.  

The following table presents the components of our intangible assets with definite lives for the periods presented:

			December 31, 2018							December 31, 2017
	Weighted Average		Gross					Net		Gross					Net
	Remaining Life		Carrying		Accumulated			Carrying		Carrying		Accumulated			Carrying
	(in years)		Amount		Amortization			Amount		Amount		Amortization			Amount
			(in millions)							(in millions)
Trade names and trademarks		5.8	$	57	$	(28	)	$	29	$	58	$	(20	)	$	38
Customer lists and supplier relationships		3.6		88		(53	)		35		87		(43	)		44
Subscriber relationships		3.7		34		(25	)		9		35		(22	)		13
Technology and other		3.3		49		(34	)		15		44		(27	)		17
Total		4.3	$	228	$	(140	)	$	88	$	224	$	(112	)	$	112

Refer to “Note 3: Acquisitions and Other Investments” above for a discussion of definite lived intangible assets acquired in business combinations during the years ended December 31, 2018 and 2016.

Our definite-lived intangible assets are being amortized on a straight-line basis. The straight-line method of amortization is currently our best estimate, or approximates to date, the distribution of the economic use of these intangible assets.

The estimated amortization expense for intangible assets with definite lives for each of the next five years, and the expense thereafter, assuming no subsequent impairment of the underlying assets or change in estimate of remaining lives, is expected to be as follows (in millions):

2019	$	28
2020		22
2021		15
2022		9
2023		7
2024 and thereafter		7
Total	$	88