Intangible Assets, Goodwill and Other

3 Months Ended

Mar. 31, 2026

Intangible Asset, Goodwill and Other [Abstract]

Software, Internal Use

Internal-Use Software

The Company capitalizes certain costs incurred in connection with the development and implementation of internal-use software. Capitalization of costs begins when management authorizes and commits to funding the project, it is probable that the project will be completed, and the software will be used to perform the function intended.

Capitalized internal-use software costs are included within other assets on the Consolidated Balance Sheet and are amortized on a straight-line basis over the estimated useful life using the group method of amortization along with composite amortization rates of software determined by the current amortization study, ranging from 9 to 15 years. The Company conducts amortization studies, generally every three years, and implements study results prospectively. Amortization expense is included within depreciation and amortization in the Consolidated Income Statement.

As of March 31, 2026, the Company’s capitalized internal-use software, net of accumulated amortization of $908 million, was $823 million. For the three-months ended March 31, 2026, the Company incurred amortization expense of $35 million.