Annual report pursuant to Section 13 and 15(d)

Intangible Assets (Tables)

v3.25.0.1
Intangible Assets (Tables)
 12 Months Ended
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Intangible Assets and Goodwill
Intangible assets consisted of the following:
December 31, 2024 December 31, 2023
Gross
Carrying
Amount
Gross
Carrying
Amount
Goodwill $ 1,525  $ 1,525 
December 31, 2024 December 31, 2023
Gross
Carrying
Amount
Accumulated
Amortization
Net
Carrying
Amount
Gross
Carrying
Amount
Accumulated
Amortization
Net
Carrying
Amount
Unamortized intangible assets:
Trademarks
 $ 1,230  $ 1,232 
Amortized intangible assets:
Franchise agreements $ 912  $ 594  $ 318  $ 913  $ 567  $ 346 
Management agreements 1  1  —  1  1  — 
Other
 —  —  —  1  —  1 
$ 913  $ 595  $ 318  $ 915  $ 568  $ 347 
Change in Goodwill
The changes in the carrying amount of goodwill by reporting unit are as follows:
Balance as of December 31, 2022 Adjustments to Goodwill Balance as of December 31, 2024
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:
2024 2023 2022
Franchise agreements
 $ 27  $ 26  $ 26 
Management agreements
 —  1  5 
Total (a)
$ 27  $ 27  $ 31 
______________________
(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, 2024, the Company expects related amortization expense as follows:
Amount
2025 $ 27 
2026 26 
2027 25 
2028 25 
2029 24