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Amortizable Intangible Assets
 12 Months Ended
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Amortizable Intangible Assets

NOTE 5 Amortizable Intangible Assets

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

 

 

 

December 31, 2024

 

 

December 31, 2023

 

(in millions)

 

Gross
carrying
value

 

 

Accumulated
amortization

 

 

Net
carrying
value

 

 

Weighted
average
life in
years(1)

 

 

Gross
carrying
value

 

 

Accumulated
amortization

 

 

Net
carrying
value

 

 

Weighted
average
life in
years(1)

 

Purchased customer accounts and other

 

$

3,557

 

 

$

(1,718

)

 

$

1,839

 

 

 

15

 

 

$

3,138

 

 

$

(1,549

)

 

$

1,589

 

 

 

15

 

Foreign currency translation adjustments during the year

 

 

(28

)

 

 

3

 

 

 

(25

)

 

 

 

 

 

34

 

 

 

(2

)

 

 

32

 

 

 

 

Total

 

$

3,529

 

 

$

(1,715

)

 

$

1,814

 

 

 

 

 

$

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, 2025, 2026, 2027, 2028 and 2029 is estimated to be $193 million, $187 million, $176 million, $169 million and $152 million, respectively.