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Intangible Assets and Goodwill
 12 Months Ended
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets and Goodwill Intangible Assets and Goodwill
Intangible Assets
Intangible assets consisted of the following:
December 31, 2024December 31, 2023
Gross
Carrying
Amount		Accumulated
Amortization		Net
Carrying
Amount		Gross
Carrying
Amount		Accumulated
Amortization		Net
Carrying
Amount
Customer relationships$43,569 $(29,179)$14,390 $44,112 $(25,659)$18,453 
Software & technology2,944 (1,554)1,390 3,047 (1,100)1,947 
Total intangible assets, net$46,513 $(30,733)$15,780 $47,159 $(26,759)$20,400 

Amortization expense was $5 million, $5 million and $10 million for the years ended December 31, 2024, 2023 and 2022, respectively.
Future amortization expense for intangible assets at December 31, 2024 is as follows:
2025$4,350 
20263,361 
20273,097 
20282,438 
20291,356 
Thereafter1,178 
Total$15,780 
Actual amortization expense may differ from the amounts above due to, among other things, fluctuations in foreign currency exchange rates, acquisitions, divestitures and impairment charges.

Goodwill
As disclosed in Note 1, in the third quarter of 2024, we entered into a series of transactions designed to facilitate an orderly wind-down of a majority of the former Global Ecommerce reporting segment. Certain operations of the former Global Ecommerce segment that were sold or dissolved prior to 2024 did not qualify for discontinued operations treatment.
During 2023, the performance of our then Global Ecommerce reporting unit, continuing changes in macroeconomic conditions and our long-term outlook for this business were triggering events that caused us to evaluate the Global Ecommerce goodwill for impairment. To assess goodwill for impairment, we determined the fair value of the reporting unit and compared it to the unit's carrying value, including goodwill. We engaged a third party to assist in the determination of the fair value of the reporting unit. The fair value was estimated using a discounted cash flow model based on management developed cash flow projections, which included judgements and assumptions related to revenue growth rates, operating margins, operating income, and a discount rate. The estimates and assumptions were considered Level 3 inputs under the fair value hierarchy. Our assessments indicated that the estimated fair value of the reporting unit was less than its carrying value. Accordingly, a goodwill impairment charge of $124 million was recorded in 2023. Changes in the carrying amount of goodwill by reporting segment are shown in the tables below.
December 31, 2023FX ImpactDecember 31, 2024
SendTech Solutions
$510,646 $(13,406)$497,240 
Presort Services
223,763 — 223,763 
Total goodwill$734,409 $(13,406)$721,003 
Goodwill before accumulated impairmentAccumulated impairmentDecember 31, 2022
Impairment
FX ImpactDecember 31, 2023
SendTech Solutions
$504,004 $— $504,004 $— $6,642 $510,646 
Presort Services223,763 — 223,763 — — 223,763 
Other
163,450 (39,876)123,574 (123,574)— — 
Total goodwill$891,217 $(39,876)$851,341 $(123,574)$6,642 $734,409