
	December 31, 2025
	Cost	Accumulated amortization	Net book value
	(in US $ millions)


Acquired technology	93	64	29
Other intangible assets	5	4	1
Software development costs	14	14	—
	112	82	30


	December 31, 2024
	Cost	Accumulated amortization	Net book value
	(in US $ millions)
Acquired technology	72	51	21
Other intangible assets	5	4	1
Software development costs	14	14	—

	91	69	22

During the year ended December 31, 2025, the Company completed the acquisition of Vantage Discovery Inc. (see Note 4).

During the year December 31, 2023, the Company recognized an impairment of $307 million of acquired technology, $27 million of acquired customer relationships and $3 million of other intangible assets as a result of the sales of Shopify's logistics businesses (see Note 4).

During the year ended December 31, 2023, the Company disposed of and retired software development costs, acquired technology and purchased software with a combined original cost of $440 million, primarily due to the sales of our logistics businesses. Other than the impairment charges noted above, there was no additional gain or loss recognized in the consolidated statement of operations and comprehensive income (loss) as a result of the retirement or disposal of these assets.

The following table illustrates the classification of amortization expense related to intangible assets in the consolidated statements of operations and comprehensive income:


	Years ended
		December 31, 2025	December 31, 2024	December 31, 2023

		(in US $ millions)
Cost of revenues		9	12	35
Research and development		4	1	—
Sales and marketing		—	1	3

		13	14	38

Estimated future amortization expense related to intangible assets, as of December 31, 2025 is as follows: