Intangible Assets

12 Months Ended

Dec. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

Intangible Assets

Intangible assets consisted of:

	As of December 31, 2024						As of December 31, 2023
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Amortized Intangible Assets
License agreements (a)	$	306	$	244	$	62	$	316	$	234	$	82
Customer relationships (b)	244		221		23		253		221		32
Other (c)	52		47		5		56		46		10
Total	$	602	$	512	$	90	$	625	$	501	$	124
Unamortized Intangible Assets
Goodwill	$	1,071					$	1,099
Trademarks	$	511					$	546

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(a)Primarily amortized over a period ranging from 0 to 40 years with a weighted average life of 15 years.

(b)Primarily amortized over a period ranging from 1 to 20 years with a weighted average life of 11 years.

(c)Primarily amortized over a period ranging from 3 to 10 years with a weighted average life of 9 years.

During 2024, we recorded an impairment related to our unamortized Zipcar trademark of $28 million. See Note 2 – Summary of Significant Accounting Policies.

Amortization expense relating to all intangible assets was as follows:

	Year Ended December 31,
	2024		2023		2022
License agreements	$	17	$	14	$	29
Customer relationships	9		9		10
Other	4		6		5
Total	$	30	$	29	$	44

Based on our amortizable intangible assets at December 31, 2024, we expect amortization expense of approximately $22 million for 2025, $21 million for 2026, $15 million for 2027, $9 million for 2028 and $7 million for 2029 excluding effects of currency exchange rates.

The carrying amounts of goodwill and related changes are as follows:

	Americas		International		Total Company
Goodwill as of January 1, 2023	$	2,137	$	1,051	$	3,188
Accumulated impairment losses as of January 1, 2023	(1,587)		(531)		(2,118)
Goodwill as of January 1, 2023	550		520		1,070
Acquisitions	—		10		10
Currency translation adjustments and other	1		18		19
Goodwill as of December 31, 2023	551		548		1,099
Acquisitions	—		2		2
Currency translation adjustments and other	(3)		(27)		(30)
Goodwill as of December 31, 2024	$	548	$	523	$	1,071