| Goodwill and Intangible Assets Goodwill The following summarizes the Company's goodwill (in millions): | | | | | | | | | | | | | June 30, 2025 | | December 31, 2024 | | Balance at the beginning of the period: | | | | | Goodwill, gross | $ | 1,334 | | | $ | 1,154 | | | Accumulated impairment losses | (664) | | | (671) | | | Goodwill | 670 | | | 483 | | | | | | | | | | | Additions | 2,229 | | | 190 | | | Currency translation | 2 | | | (3) | | | | | | | Balance at the end of the period: | | | | | Goodwill, gross | 3,570 | | | 1,334 | | | Accumulated impairment losses | (669) | | | (664) | | | Goodwill | $ | 2,901 | | | $ | 670 | |
Intangible Assets
Intangible assets, net, consisted of the following major classes (in millions): | | | | | | | | | | | | | | | | | | | | June 30, 2025 | | | Gross Carrying Amount | | Accumulated Amortization | | Net Carrying Value | | Finite-lived intangible assets: | | | | | | | Customer-related and non-compete agreements | $ | 1,452 | | | $ | (134) | | | $ | 1,318 | | Internally developed software(a) | 48 | | | (15) | | | 33 | | | Total | 1,500 | | | (149) | | | 1,351 | | | Indefinite-lived intangible assets: | | | | | | | Trade name | 271 | | | — | | | 271 | | | Total intangible assets, net | $ | 1,771 | | | $ | (149) | | | $ | 1,622 | |
(a) Includes capitalized costs of $22 million yet to be placed into service. | | | | | | | | | | | | | | | | | | | | December 31, 2024 | | | Gross Carrying
Amount | | Accumulated
Amortization | | Net Carrying Value | | Finite-lived intangible assets: | | | | | | | Customer-related and non-compete agreements | $ | 382 | | | $ | (106) | | | $ | 276 | | Internally developed software(a) | 39 | | | (14) | | | 25 | | | Total | 421 | | | (120) | | | 301 | | | Indefinite-lived intangible assets: | | | | | | | Trade name | 271 | | | — | | | 271 | | | Total intangible assets, net | $ | 692 | | | $ | (120) | | | $ | 572 | |
(a) Includes capitalized costs of $14 million yet to be placed into service. Amortization of intangible assets was $20 million and $31 million for the three and six months ended June 30, 2025, respectively, and $10 million and $20 million for the three and six months ended June 30, 2024, respectively.
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