ZILLOW GROUP INC
For the period ended Dec 31, 2023. Filed Feb 15, 2024.
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FY2023 · Filed Feb 15, 2024
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Intangible Assets, net
Note 8. Intangible Assets, net
The following tables present the detail of intangible assets as of the dates presented (in millions):
| December 31, 2023 | |||
|---|---|---|---|
| Cost | AccumulatedAmortization | Net | |
| Customer relationships | $98 | $(19) | $79 |
| Developed technology | 104 | (30) | 74 |
| Software | 84 | (29) | 55 |
| Trade names and trademarks | 47 | (20) | 27 |
| Purchased content | 17 | (11) | 6 |
| Total | $350 | $(109) | $241 |
| December 31, 2022 | |||
|---|---|---|---|
| Cost | AccumulatedAmortization | Net | |
| Customer relationships | $59 | $(10) | $49 |
| Software | 54 | (15) | 39 |
| Developed technology | 49 | (15) | 34 |
| Trade names and trademarks | 45 | (15) | 30 |
| Purchased content | 8 | (6) | 2 |
| Total | $215 | $(61) | $154 |
Amortization expense recorded for intangible assets for the years ended December 31, 2023, 2022 and 2021 was $53 million, $58 million and $56 million, respectively.
Estimated future amortization expense for intangible assets, including amortization related to future commitments (see Note 16), as of December 31, 2023 is as follows (in millions):
| 2024 | $73 |
| 2025 | 61 |
| 2026 | 44 |
| 2027 | 35 |
| 2028 | 16 |
| Thereafter | 24 |
| Total future amortization expense | $253 |
We didnot record any material impairment costs related to our intangible assets for the years ended December 31, 2023, 2022 or 2021.
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