The carrying value of goodwill is as follows:


	June 30, 2026		December 31, 2025
	$		$
Balance at beginning of year		35		33
Purchase price accounting adjustment		—		2
Balance at end of period		35		35

The goodwill at June 30, 2026 and December 31, 2025 is entirely related to the Paper and packaging reporting segment.

The following table presents the components of intangible assets:


			June 30, 2026							December 31, 2025
	Estimated useful lives (in years)		Gross carrying amount		Accumulated amortization			Net		Gross carrying amount		Accumulated amortization			Net
			$		$			$		$		$			$
Definite-lived intangible assets subject to amortization
Water rights		30		9		(1	)		8		9		(1	)		8
Trade names	15			15		(5	)		10		15		(4	)		11
Customer relationships	8			110		(23	)		87		110		(16	)		94
Total				134		(29	)		105		134		(21	)		113

Amortization expense related to intangible assets for the three and six months ended June 30, 2026 was $4 million and $8 million, respectively (2025 – $4 million and $8 million, respectively).

Amortization expense for the next five years related to intangible assets is expected to be as follows:


	2027		2028		2029		2030		2031
	$		$		$		$		$
Amortization expense related to intangible assets		15		15		15		15		15