Goodwill and Intangible Assets

3 Months Ended

Mar. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Note 2—Goodwill and Intangible Assets

Goodwill and Intangible assets, net on our consolidated balance sheets consisted of the following:


	March 31, 2025		December 31, 2024
	(Dollars in millions)
Goodwill, less accumulated impairment losses of $2,405 and $2,405	$	6,955	6,955
Intangible assets, less accumulated amortization of $1,702 and $1,841	$	95	84

As of March 31, 2025 and December 31, 2024, the gross carrying amount of goodwill and intangible assets was $8.8 billion and $8.9 billion.

Substantially all of our goodwill was derived from Lumen's acquisition of us in which the purchase price exceeded the fair value of the net assets acquired.

We are required to assess our goodwill for impairment annually, or under certain circumstances, more frequently, such as when events or changes in circumstances indicate there may be impairment. We are required to write down the value of goodwill only when our assessment determines the carrying value of equity of our reporting unit exceeds its fair value. Our annual impairment assessment date for goodwill is October 31, at which date we assess goodwill at our reporting unit. In reviewing the criteria for reporting units, we have determined that we are one reporting unit.

Total amortization expense for finite-lived intangible assets for the three months ended March 31, 2025 and 2024 totaled $8 million and $13 million, respectively.