ZILLOW GROUP INC
For the period ended Sep 30, 2024. Filed Nov 6, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 6, 2024
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Intangible Assets, net
Note 6. Intangible Assets, net
The following tables present the detail of intangible assets as of the dates presented (in millions):
| September 30, 2024 | |||
|---|---|---|---|
| Cost | Accumulated Amortization | Net | |
| Customer relationships | $93 | $(26) | $67 |
| Software | 93 | (33) | 60 |
| Developed technology | 100 | (45) | 55 |
| Trade names and trademarks | 47 | (24) | 23 |
| Purchased content | 20 | (14) | 6 |
| Total | $353 | $(142) | $211 |
| December 31, 2023 | |||
|---|---|---|---|
| Cost | Accumulated Amortization | 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 |
Amortization expense recorded for intangible assets was $20 million and $13 million for the three months ended September 30, 2024 and 2023, respectively and $58 million and $37 million for the nine months ended September 30, 2024 and 2023, respectively. We didnot record any impairment costs related to our intangible assets for the three or nine months ended September 30, 2024 or 2023.
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