Goodwill and indefinite-lived intangible assets are not amortized and are subject to assessment for impairment on an annual basis, or more frequently if circumstances indicate a potential impairment. We perform our annual assessment for impairment on October 1 of every year.

The balance of goodwill was $972 million and $967 million as of June 30, 2025 and December 31, 2024, respectively. There were no goodwill impairment charges during the six months ended June 30, 2025 and 2024. The increase in goodwill during the six months ended June 30, 2025 was driven by updates to purchase accounting allocations, offset, in part, by the finalization of the 2-10 HBW Acquisition purchase price.

The following table provides a summary of the components of our intangible assets:


	As of June 30, 2025							As of December 31, 2024
			Accumulated							Accumulated
(In millions)	Gross		Amortization			Net		Gross		Amortization			Net
Trade names(1)	$	141	$	—		$	141	$	141	$	—		$	141
Value of business acquired		148		(16	)		132		148		(1	)		147
Home warranty customer relationships		208		(175	)		33		214		(173	)		41
Builder relationships		71		(3	)		68		73		—			72
Developed technology		35		(23	)		12		35		(19	)		16
Other		60		(34	)		26		63		(32	)		31
Total	$	663	$	(251	)	$	412	$	673	$	(225	)	$	448

(1)

Not subject to amortization.

Amortization expense was $12 million and $1 million for the three months ended June 30, 2025 and 2024, respectively, and $25 million and $1 million for the six months ended June 30, 2025 and 2024, respectively. There were no intangible asset impairment charges during the six months ended June 30, 2025 and 2024.