The following table presents changes in goodwill balances as allocated to each business segment for the nine months ended September 30, 2026:


In millions	PS NA		PS EMEA		Total
Balance as of January 1, 2026
Goodwill	$	3,968	$	3,960	$	7,928
Accumulated impairment losses	(59)		(2,543)		(2,602)
Total	3,909		1,417		5,326
Goodwill additions	—		—		—
Currency translation	1		(40)		(39)
Impairment losses	—		(1,377)		(1,377)
Balance as of September 30, 2026
Goodwill	3,969		3,920		7,889
Accumulated impairment losses	(59)		(3,920)		(3,979)
Total	$	3,910	$	—	$	3,910

During the third quarter of 2026, the Company identified a triggering event related to the PS EMEA reporting unit as part of its quarterly review, driven by updated macroeconomic indicators and updated industry outlooks. In response, the Company performed a quantitative goodwill impairment test for the PS NA and PS EMEA reporting units, comparing each reporting unit’s carrying value to its estimated fair value.

Estimated fair values were determined using discounted future cash flows and market multiples, which use inputs that are classified within Level 2 and Level 3 of the fair value hierarchy. The discounted cash flow approach requires significant management judgments, including assumptions related to forecasts of future revenues, operating margins and discount rates. The market-multiple approach similarly requires significant assumptions regarding adjusted EBITDA multiples.

The quantitative impairment test concluded that the carrying amount of the PS EMEA reporting unit exceeded its estimated fair value. As a result, the Company recorded a goodwill impairment charge of approximately $1.4 billion, which is reflected in Impairment of goodwill in the accompanying consolidated statement of operations. The carrying amount of the PS NA reporting unit did not exceed its estimated fair value, and no impairment was recorded for that reporting unit.


	September 30, 2026						December 31, 2025
In millions	Gross Carrying Amount		Accumulated Amortization		Net Intangible Assets		Gross Carrying Amount		Accumulated Amortization		Net Intangible Assets
Customer relationships and lists	$	4,085	$	711	$	3,374	$	4,063	$	535	$	3,528
Trade names	399		36		363		398		21		377
Software (a)	150		61		89		142		39		103
Other	95		69		26		102		67		35
Total	$	4,729	$	877	$	3,852	$	4,705	$	662	$	4,043

(a) Of this balance, $64 million and $76 million have been placed in service at September 30, 2026 and December 31, 2025, respectively.

The Company recognized the following amounts as amortization expense related to intangible assets:


	Three Months Ended September 30				Nine Months Ended September 30
In millions	2026		2025		2026		2025
Amortization expense related to intangible assets	$	81	$	73	$	230	$	190