Goodwill and Intangibles

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangibles

Note 6: Goodwill and Intangibles

Due to the effects of COVID-19, we assessed goodwill for impairment during the first quarter of 2020. We determined that the carrying value of our consolidated and unconsolidated hotel reporting units exceeded their respective estimated fair value. As a result, we fully impaired our remaining goodwill balance, recognizing an impairment loss of $607 million in the first quarter of 2020. Refer to Note 8: “Fair Value Measurements” for additional information.

Intangible assets were:

	December 31,
	2021			2020
	(in millions)
Air rights contract		45			45
Other		8			8
Accumulated amortization		(9	)		(8	)
	$	44		$	45

As of December 31, 2021, we estimated our future amortization expense for our intangible assets to be:

Year	(in millions)
2022	$	1
2023		1
2024		1
2025		1
2026		1
Thereafter		39
	$	44