MARRIOTT INTERNATIONAL INC /MD/ Goodwill & Intangibles Disclosure
| (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 | ||||||||
| (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 | |||||||||||||||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 10, 2026 | Showing above |
| 2024 | Feb 11, 2025 | |
| 2023 | Feb 13, 2024 | |
| 2022 | Feb 14, 2023 | |
| 2021 | Feb 15, 2022 | |
| 2020 | Feb 18, 2021 | |
| 2019 | Feb 27, 2020 | |
| 2018 | Mar 1, 2019 | |
| 2017 | Feb 15, 2018 | |
| 2016 | Feb 21, 2017 | |
| 2015 | Feb 18, 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.