Hilton Worldwide Holdings Inc. Goodwill & Intangibles Disclosure
| December 31, 2025 | |||||||||||||||||
| Gross Carrying Value | Accumulated Amortization | Net Carrying Value | |||||||||||||||
| (in millions) | |||||||||||||||||
| Management and franchise contracts: | |||||||||||||||||
Contract acquisition costs | $ | 1,564 | $ | (334) | $ | 1,230 | |||||||||||
Other(1) | 300 | (59) | 241 | ||||||||||||||
| $ | 1,864 | $ | (393) | $ | 1,471 | ||||||||||||
| Other intangible assets: | |||||||||||||||||
| Capitalized software costs | $ | 859 | $ | (667) | $ | 192 | |||||||||||
Leases(2) | 67 | (53) | 14 | ||||||||||||||
| $ | 926 | $ | (720) | $ | 206 | ||||||||||||
| December 31, 2024 | |||||||||||||||||
| Gross Carrying Value | Accumulated Amortization | Net Carrying Value | |||||||||||||||
| (in millions) | |||||||||||||||||
| Management and franchise contracts: | |||||||||||||||||
Contract acquisition costs | $ | 1,289 | $ | (289) | $ | 1,000 | |||||||||||
Other(1) | 281 | (46) | 235 | ||||||||||||||
| $ | 1,570 | $ | (335) | $ | 1,235 | ||||||||||||
| Other intangible assets: | |||||||||||||||||
| Capitalized software costs | $ | 754 | $ | (590) | $ | 164 | |||||||||||
Leases(2) | 88 | (58) | 30 | ||||||||||||||
| $ | 842 | $ | (648) | $ | 194 | ||||||||||||
| Year Ended December 31, | |||||||||||||||||
| 2025 | 2024 | 2023 | |||||||||||||||
| (in millions) | |||||||||||||||||
Recognized in depreciation and amortization expenses(1) | $ | 114 | $ | 91 | $ | 104 | |||||||||||
Recognized as a reduction of franchise and licensing fees and base and other management fees | 57 | 50 | 43 | ||||||||||||||
| Year | (in millions) | ||||
| 2026 | $ | 113 | |||
| 2027 | 85 | ||||
| 2028 | 46 | ||||
| 2029 | 17 | ||||
| 2030 | 16 | ||||
| Thereafter | 170 | ||||
| $ | 447 | ||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 11, 2026 | Showing above |
| 2024 | Feb 6, 2025 | |
| 2023 | Feb 7, 2024 | |
| 2022 | Feb 9, 2023 | |
| 2021 | Feb 16, 2022 | |
| 2020 | Feb 17, 2021 | |
| 2019 | Feb 11, 2020 | |
| 2018 | Feb 13, 2019 | |
| 2017 | Feb 14, 2018 | |
| 2016 | Feb 15, 2017 | |
| 2015 | Feb 26, 2016 | |
About Goodwill & Intangibles Disclosures
Goodwill and intangible asset disclosures reveal the premium paid in acquisitions and how management assesses whether that premium retains its value. Since goodwill is no longer amortized under US GAAP, the annual impairment test is the only mechanism that adjusts carrying values downward — making the assumptions behind that test critically important for investors.
Key signals: a history of goodwill impairments suggests management consistently overpays for acquisitions. Watch the gap between reporting unit fair value and carrying amount — when fair value exceeds carrying amount by less than 10-20%, a small decline in business performance could trigger a write-down. For finite-lived intangibles, examine useful life assumptions across customer relationships, technology, and trade names; aggressive estimates inflate near-term earnings. Compare total intangibles-to-total-assets ratios against peers to assess acquisition dependency. Rising goodwill as a percentage of equity can signal balance sheet fragility.