Goodwill and Intangible Assets, Net

9 Months Ended

Sep. 30, 2021

Business Combinations [Abstract]

Goodwill and Intangible Assets, Net

NOTE 4 — GOODWILL AND INTANGIBLE ASSETS, NET

On April 12, 2018, the Company acquired Car360, Inc. ("Car360"), a provider of app-based photo capture technology. The following table summarizes intangible assets and goodwill related to the Car360 acquisition as of September 30, 2021 and December 31, 2020:

	Useful Life	September 30, 2021		December 31, 2020
		(in millions)
Intangible assets:
Developed technology	7 years	$	9	$	9
Non-compete agreements	5 years	1		1
Intangible assets, acquired cost		10		10
Less: accumulated amortization		(5)		(4)
Intangible assets, net		$	5	$	6
Goodwill	N/A	$	9	$	9

Amortization expense was less than $1 million during each of the three months ended September 30, 2021 and 2020, and $1 million during each of the nine months ended September 30, 2021 and 2020. As of September 30, 2021, the remaining

weighted-average amortization period for definite-lived intangible assets was approximately 3.4 years. The anticipated annual amortization expense to be recognized in future years as of September 30, 2021, is as follows:

	Expected Future Amortization
	(in millions)
Remainder of 2021	$	1
2022	1
2023	1
2024	1
2025	1
Thereafter	—
Total	$	5