PARTIV Note5—GoodwillandIntangibleAssets PayPalHoldings,Inc. NotestoConsolidatedFinancialStatements—(Continued) IntangibleAssets Thecomponentsofidentifiableintangibleassetswereasfollows: December31,2022 December31,2021 Weighted Weighted Average Average Gross Net Useful Gross Net Useful Carrying Accumulated Carrying Life Carrying Accumulated Carrying Life Amount Amortization Amount (Years) Amount Amortization Amount (Years) (In millions, except years) Intangible assets: Customerlistsanduserbase $ 1,664 $ (1,092) $ 572 7 $ 1,726 $ (919) $ 807 7 Marketingrelated 395 (339) 56 5 405 (315) 90 5 Developedtechnology 1,099 (1,048) 51 3 1,109 (822) 287 3 All other 438 (329) 109 7 454 (306) 148 7 INTANGIBLEASSETS,NET $3,596 $ (2,808) $ 788 $3,694 $ (2,362) $ 1,332 Amortization expense for intangible assets was $471 million, $443 million, and $451 million for the years ended December31,2022,2021,and2020,respectively. ExpectedfutureintangibleassetamortizationasofDecember31,2022wasasfollows: Fiscal years: (In millions) 2023 $ 214 2024 196 2025 160 2026 103 2027 65 Thereafter 50 $ 788 Note6—Leases PayPal enters into various leases, which are primarily real estate operating leases. We use these properties for executive and administrative offices, data centers, product development offices, customer services and operations centers, and warehouses. Whileamajorityofourleaseagreementsdonotcontainanexplicitinterestrate,certainofourleaseagreementsaresubject to changesbasedontheConsumerPriceIndexoranotherreferencedindex.Intheeventofchangestotherelevantindex, lease liabilities are not remeasured and instead are treated as variable lease payments and recognized in the period in whichtheobligationforthosepaymentsisincurred. Theshort-termleaseexemptionhasbeenadoptedforallleaseswithadurationoflessthan12months. PayPals lease portfolio includes a small number of subleases. A sublease situation can arise when currently leased real estatespaceisavailableandissurplustooperationalrequirements. AsofDecember31,2022,wehadnofinanceleases. 78 •2022AnnualReport