MARRIOTT INTERNATIONAL INC /MD/
For the period ended Dec 31, 2025. Filed Feb 10, 2026.
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FY2025 · Filed Feb 10, 2026
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Intangible Assets and Goodwill
NOTE 10. INTANGIBLE ASSETS AND GOODWILL
The following table details the composition of our intangible assets at year-end 2025 and 2024:
| (in millions) | At Year-End 2025 | At Year-End 2024 |
|---|---|---|
| Definite-lived Intangible Assets | ||
| Costs incurred to obtain contracts with customers | $2,899 | $2,538 |
| Acquired contracts and other | 1,964 | 1,918 |
| Software | 1,932 | 792 |
| 6,795 | 5,248 | |
| Accumulated amortization | (2,607) | (1,471) |
| 4,188 | 3,777 | |
| Indefinite-lived Intangible Brand Assets | 6,148 | 5,711 |
| $10,336 | $9,488 | |
We capitalize direct costs that we incur to obtain contracts with customers, which we amortize on a straight-line basis over the initial term of the agreements, generally ranging from 15 to 30 years.
For contracts acquired in business combinations and asset acquisitions, we record a definite-lived intangible asset at the acquisition date, which is amortized on a straight-line basis over the remaining life of the contract. We capitalize costs incurred to develop internal-use software and acquire software licenses and begin amortizing these costs when the software is substantially ready for its intended use on a straight-line basis over its estimated useful life, generally ranging fromtwo toseven years. For acquired contracts, software, and other intangible assets, we recorded amortization expense of $313 million in 2025, $255 million in 2024, and $226 million in 2023 (of which $206 million in 2025, $158 million in 2024, and $122 million in 2023 was included in the “Reimbursed expenses” caption of our Income Statements). For these assets, we estimate that our aggregate amortization expense will be $308 million in 2026, $272 million in 2027, $225 million in 2028, $181 million in 2029, and $131 million in 2030.
The following table details the carrying amount of our goodwill at year-end 2025 and 2024:
| (in millions) | U.S. & Canada | EMEA | Greater China | APEC | CALA | Total Goodwill |
|---|---|---|---|---|---|---|
| Balance at year-end 2024 | $5,301 | $1,417 | $979 | $731 | $303 | $8,731 |
| Foreign currency translation | 18 | 97 | 30 | 17 | 14 | 176 |
| Balance at year-end 2025 | $5,319 | $1,514 | $1,009 | $748 | $317 | $8,907 |
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