Goodwill and Intangibles

12 Months Ended

Dec. 31, 2019

Goodwill And Intangible Assets Disclosure [Abstract]

Goodwill and Intangibles

Note 6: Goodwill and Intangibles

Hilton allocated $3.5 billion of goodwill to us as part of the Blackstone Merger and during the year ended December 31, 2008, we recognized a $2.7 billion impairment loss.

Our goodwill balance and related activity was:

	Goodwill		Accumulated Impairment Losses			Balance
	(in millions)
Balance as of December 31, 2017	$	2,708	$	(2,102	)	$	606
Distribution to Parent		—		—			—
Foreign currency translation		1		—			1
Balance as of December 31, 2018		2,709		(2,102	)		607
Distribution to Parent		—		—			—
Foreign currency translation		—		—			—
Balance as of December 31, 2019	$	2,709	$	(2,102	)	$	607

Intangible assets were:

	December 31,
	2019			2018
	(in millions)
Acquired below market leases(1)	$	—		$	61
Air rights contract(2)		45			—
Other		8			10
Accumulated amortization		(7	)		(44	)
	$	46		$	27

^{(1) Upon adoption of ASC 842, Leases, on January 1, 2019, the balance of acquired below market leases was reclassed to Operating lease right-of-use asset within our consolidated balance sheet.}

^{(2) In conjunction with the Merger, we acquired an air rights contract as part of the Hyatt Regency Boston, which expires in September 2079 and requires no payments through maturity.}

As of December 31, 2019, we estimated our future amortization expense for our intangible assets to be:

Year	(in millions)
2020	$	1
2021		1
2022		1
2023		1
2024		1
Thereafter		41
	$	46