(5) Goodwill and Other Intangible Assets

Changes in the carrying amount of goodwill are as follows:

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Impairments

Given a sustained decline in Tripadvisor’s stock price during 2023, TripCo performed a quantitative analysis of the Tripadvisor Core reporting unit. Based on near-term business trends and their impact on long term assumptions, combined with macro-economic factors such as rising interest rates, we concluded that the estimated fair values of the Tripadvisor Core reporting unit and the Tripadvisor trademark were less than their respective carrying values. As a result, TripCo recognized a goodwill impairment of $820 million and a trademark impairment of $205 million during the nine months ended September 30, 2023, related to the Tripadvisor Core reporting unit. The fair value of the reporting unit was determined using a combination of market multiples (market approach) and discounted cash flow (income approach) calculations (Level 3). The fair value of the trademarks was determined using the relief from royalty method (Level 3). 

As of September 30, 2023, accumulated goodwill impairments losses for Tripadvisor totaled $2,391 million.