Annual report pursuant to Section 13 and 15(d)

Intangible Assets (Tables)

v3.24.0.1
Intangible Assets (Tables)
 12 Months Ended
Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Intangible Assets and Goodwill
Intangible assets consisted of the following:
December 31, 2023 December 31, 2022
Gross
Carrying
Amount
Gross
Carrying
Amount
Goodwill $ 1,525  $ 1,525 
December 31, 2023 December 31, 2022
Gross
Carrying
Amount
Accumulated
Amortization
Net
Carrying
Amount
Gross
Carrying
Amount
Accumulated
Amortization
Net
Carrying
Amount
Unamortized intangible assets:
Trademarks
 $ 1,232  $ 1,231 
Amortized intangible assets:
Franchise agreements $ 913  $ 567  $ 346  $ 913  $ 541  $ 372 
Management agreements 1  1  —  15  14  1 
Trademarks —  —  —  1  —  1 
Other
 1  —  1  1  —  1 
$ 915  $ 568  $ 347  $ 930  $ 555  $ 375 
Change in Goodwill
The changes in the carrying amount of goodwill by reporting unit are as follows:
Balance as of December 31, 2021 Adjustments to Goodwill Balance as of December 31, 2023
Hotel Franchising $ 1,441  $ —  $ 1,441 
Hotel Management 84  —  84 
Total $ 1,525  $ —  $ 1,525 
Amortization Expense of Amortizable Intangible Assets
Amortization expense relating to amortizable intangible assets was as follows for the years ended December 31:
2023 2022 2021
Franchise agreements
 $ 26  $ 26  $ 27 
Management agreements
 1  5  11 
Total (a)
$ 27  $ 31  $ 38 
______________________
(a)    Included as a component of depreciation and amortization on the Consolidated Statements of Income.
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense
Based on the Company’s amortizable intangible assets as of December 31, 2023, the Company expects related amortization expense as follows:
Amount
2024 $ 27 
2025 27 
2026 26 
2027 26 
2028 25