The changes in the carrying value of goodwill by reportable segment for the years ended December 31, are as follows:


(in millions)	Retail			Specialty Distribution			Total
Balance as of January 1, 2024	$	4,870		$	2,471		$	7,341
Acquisitions		671			27			698
Adjustments during measurement period (1)		(37	)		46			9
Disposals		(13	)		—			(13	)
Foreign currency translation adjustments		(55	)		(10	)		(65	)
Balance as of December 31, 2024	$	5,436		$	2,534		$	7,970
Acquisitions		3,557			3,330			6,887
Adjustments during measurement period (1)		(3	)		1			(2	)
Disposals		(5	)		—			(5	)
Foreign currency translation adjustments		188			49			237
Balance as of December 31, 2025	$	9,173		$	5,914		$	15,087

(1)

Provisional estimates of fair value are established at the time of each acquisition and are subsequently reviewed and finalized within the first year of operations subsequent to the acquisition dates. As of December 31, 2025, adjustments were made to the amounts initially recorded. See also Note 3.