Lineage Inc
For the period ended Sep 30, 2024. Filed Nov 6, 2024.
View on SEC.govAbout this filing
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
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Goodwill and other intangible assets, net
(6)Goodwill and other intangible assets, net
Changes in the carrying amount of goodwill for each reportable segment for the nine months ended September 30, 2024 are as follows:
| (in millions) | Global Warehousing | Global Integrated Solutions | Other2 | Total |
|---|---|---|---|---|
| Balance, December 31, 2023 | $2,750 | $644 | $— | $3,394 |
| Goodwill acquired1 | 22 | — | 21 | 43 |
| Measurement period adjustments1 | (7) | — | — | (7) |
| Foreign currency translation | 11 | 2 | 1 | 14 |
| Balance, September 30, 2024 | $2,776 | $646 | $22 | $3,444 |
(1)See Note 4, Business combinations, asset acquisitions, and divestitures for details.
(2)Other consists of goodwill not yet assigned to a reportable segment.
The following are the Company’s total other intangible assets as of:
| September 30, 2024 · December 31, 2023 | |||||||
|---|---|---|---|---|---|---|---|
| (in millions) | Gross Carrying Amount | Accumulated Amortization | Net Carrying Amount | Gross Carrying Amount | Accumulated Amortization | Net Carrying Amount | Useful Life (Years) |
| Customer relationships | $1,537 | $(420) | $1,117 | $1,507 | $(343) | $1,164 | 5 - 28 |
| In-place leases | 93 | (23) | 70 | 98 | (21) | 77 | 2 - 31 |
| Technology | 32 | (7) | 25 | 32 | (5) | 27 | 10 |
| Trade names | 9 | (7) | 2 | 24 | (21) | 3 | 1 - 15 |
| Other | 20 | (13) | 7 | 20 | (11) | 9 | 4 - 17 |
| Other intangible assets | $1,691 | $(470) | $1,221 | $1,681 | $(401) | $1,280 | |
During the three and nine months ended September 30, 2024, the Company derecognized fully-amortized intangible assets and the associated accumulated amortization totaling $2 millionand$22 million, respectively.
Customer relationships intangible assets acquired during the nine months ended September 30, 2024 have an estimated weighted-average amortization period of 15 years.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.