Amortizable Intangible Assets

3 Months Ended

Mar. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Amortizable Intangible Assets

NOTE 7 Amortizable Intangible Assets

Amortizable intangible assets at March 31, 2024 and December 31, 2023 consisted of the following:

	March 31, 2024											December 31, 2023
(in millions)	Gross carrying value			Accumulated amortization			Net carrying value			Weighted average life (years) (1)		Gross carrying value		Accumulated amortization			Net carrying value		Weighted average life (years) (1)
Purchased customer accounts and other	$	3,191		$	(1,593	)	$	1,598			15	$	3,138	$	(1,549	)	$	1,589		15
Foreign currency translation adjustments during the year		(7	)		1			(6	)				34		(2	)		32
Total	$	3,184		$	(1,592	)	$	1,592				$	3,172	$	(1,551	)	$	1,621

(1)Weighted average life calculated as of the date of acquisition.

Amortization expense for amortizable intangible assets for the years ending December 31, 2024, 2025, 2026, 2027 and 2028 is estimated to be $171 million, $167 million, $161 million, $149 million, and $142 million, respectively.