GOODWILL

12 Months Ended

Dec. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill Disclosure

GOODWILL

GOODWILL

There were no impairment charges related to goodwill for the years ended December 31, 2024, 2023 and 2022.

The following table presents changes in the goodwill balance as allocated to each business segment:

In millions	Europe		Latin America		North America		Total
Balance as of December 31, 2022
Goodwill	$	11	$	118	$	—	$	129
Accumulated impairment losses	(1)		—		—		(1)
	10		118		—		128
Currency translation			11		—		11
Balance as of December 31, 2023
Goodwill	11		129		—		140
Accumulated impairment losses	(1)		—		—		(1)
	10		129		—		139
Currency translation	—		(28)		—		(28)
Balance as of December 31, 2024
Goodwill	11		101		—		112
Accumulated impairment losses	(1)		—		—		(1)
Total	$	10	$	101	$	—	$	111

The Company performed its annual testing of goodwill impairment by applying the qualitative assessment to its France reporting unit as of October 1, 2024. For the current year evaluation, the Company assessed various assumptions, events and circumstances that would have affected the estimated fair value of the reporting unit under the qualitative assessment for the reporting units listed above. The results of the qualitative assessment indicated that it is not more likely than not that the fair value of its France reporting unit was less than its carrying value.

The Company also performed its annual testing of goodwill impairment by applying the quantitative goodwill impairment test to its Brazil reporting unit due to the length of time elapsed since the previous quantitative goodwill impairment test. The Company calculated the estimated fair value of the Brazil reporting unit using a probability-weighted approach based on discounted future cash flows, market multiples and transaction multiples. As a result, the Company concluded that the fair value of the Brazil reporting unit was not reduced below carrying value and no goodwill impairment charge was recorded.

In addition, the Company considered whether there were any events or circumstances outside of the annual evaluation that would reduce the fair value of its reporting units below their carrying amounts and necessitate a goodwill impairment

evaluation. In consideration of all relevant factors, there were no indicators that would require goodwill impairment evaluation subsequent to October 1, 2024.