Goodwill and Intangible assets, net (Tables)

3 Months Ended

Mar. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of Changes in Net Carrying Amount of Goodwill

The changes in the net carrying amount of goodwill are as follows (in millions):

	Total
Balance as of December 31, 2023	$	3,212
Foreign currency translation		—
Balance at March 31, 2024	$	3,212

Schedule of Intangible Assets by Asset Class

Intangible assets by asset class are as follows (in millions):

	March 31, 2024						December 31, 2023
	Gross				Net		Gross				Net
	Carrying		Accumulated		Carrying		Carrying		Accumulated		Carrying
	Amount		Amortization		Amount		Amount		Amortization		Amount
Intangible assets:
Customer-related and contract based intangibles	$	3,193	$	583	$	2,610	$	3,192	$	529	$	2,663
Technology related intangibles		230		104		126		230		94		136
Trade name		408		78		330		408		71		337
Total	$	3,831	$	765	$	3,066	$	3,830	$	694	$	3,136

Schedule of Intangible Asset Net Carrying Amount and Weighted Average Remaining Useful Lives

The following table reflects intangible assets net carrying amount and weighted-average remaining useful lives as of March 31, 2024 and December 31, 2023 (in millions, except for years):

	March 31, 2024				December 31, 2023
	Net		Weighted-Average		Net		Weighted-Average
	Carrying		Remaining		Carrying		Remaining
	Amount		Useful Lives		Amount		Useful Lives
Intangible assets:
Customer-related and contract-based intangibles	$	2,610		12.2	$	2,663		12.5
Technology-related intangibles		126		3.3		136		3.5
Trade name		330		12.1		337		12.4
Total	$	3,066			$	3,136

Schedule of Intangible Assets Expected Annual Amortization Expense

Subsequent to March 31, 2024, the annual amortization expense is expected to be as follows (in millions):

	Customer-Related		Technology		Trade
	and Contract Based		Related		Name
	Intangibles		Intangibles		Intangibles		Total
2024 (April - December)	$	160	$	29	$	22	$	211
2025		214		39		28		281
2026		214		38		27		279
2027		214		19		27		260
2028		214		1		27		242
Thereafter		1,594		—		199		1,793
Total amortization expense	$	2,610	$	126	$	330	$	3,066