Page 136 - Martin Marietta - 2025 Proxy Statement

NOTES TO FINANCIAL STATEMENTS (Continued)
Note C: Goodwill and Other Intangible Assets

The following tableshows thechanges in goodwill by reportable segmentand in total:
East West
December 31 Group Group Total
(in millions) 2024
Balanceat beginning of period $ 764 $ 2,625 $ 3,389
Acquisitions 267 111 378
Balanceatend of period $ 1,031 $ 2,736 $ 3,767

2023
Balanceat beginning of period $ 764 $ 2,885 $ 3,649
Goodwill allocatedtoassets held forsale — (260) (260)
Balanceatend of period $ 764 $ 2,625 $ 3,389

Intangible assets subjecttoamortizationconsist of the following:
Gross Accumulated Net
December 31 Amount Amortization Balance
(in millions) 2024
Noncompetition agreements $ 4 $ (4) $ —
Customer relationships 462 (101) 361
Operatingpermits 370 (62) 308
Use rightsand other 30 (13) 17
Tradenames 23 (17) 6
Total $ 889 $ (197) $ 692

2023
Noncompetition agreements $ 4 $ (4) $ —
Customer relationships 421 (80) 341
Operatingpermits 369 (56) 313
Use rightsand other 14 (12) 2
Tradenames 24 (16) 8
Total $ 832 $ (168) $ 664

Intangible assets deemed to have an indefinite lifethatare thereforenot amortizedconsist of the following:
Building
Materials Magnesia
December 31 Business Specialties Total
(in millions) 2024
Operatingpermits $ 7 $ — $ 7
Use rights 29 — 29
Tradenames — 2 2
Total $ 36 $ 2 $ 38

2023
Operatingpermits $ 7 $ — $ 7
Use rights 25 — 25
Tradenames — 2 2
Total $ 32 $ 2 $ 34

age28 ♦ 2024 Annual Report