Goodwill and Other Intangible Assets
The net carrying value of Goodwill as of December 31, 2013 and 2012, by segment is as follows:
|
| | | | | | | | |
| | 2013 | | 2012 |
Oral, Personal and Home Care | | | | |
North America | | $ | 362 |
| | $ | 372 |
|
Latin America | | 353 |
| | 408 |
|
Europe/South Pacific | | 1,525 |
| | 1,478 |
|
Asia | | 126 |
| | 127 |
|
Africa/Eurasia | | 93 |
| | 100 |
|
Total Oral, Personal and Home Care | | 2,459 |
| | 2,485 |
|
Pet Nutrition | | 15 |
| | 15 |
|
Total Goodwill, net | | $ | 2,474 |
| | $ | 2,500 |
|
The change in the amount of Goodwill, net in each year is primarily due to the impact of foreign currency translation.
Other intangible assets as of December 31, 2013 and 2012 are comprised of the following:
|
| | | | | | | | | | | | | | | | | | | | | | | | |
| | 2013 | | 2012 |
| | Gross Carrying Amount | | Accumulated Amortization | | Net | | Gross Carrying Amount | | Accumulated Amortization | | Net |
Trademarks | | $ | 551 |
| | $ | (275 | ) | | $ | 276 |
| | $ | 548 |
| | $ | (254 | ) | | $ | 294 |
|
Other finite life intangible assets | | 219 |
| | (45 | ) | | 174 |
| | 212 |
| | (34 | ) | | 178 |
|
Indefinite life intangible assets | | 1,046 |
| | — |
| | 1,046 |
| | 1,027 |
| | — |
| | 1,027 |
|
Total Other intangible assets | | $ | 1,816 |
| | $ | (320 | ) | | $ | 1,496 |
| | $ | 1,787 |
| | $ | (288 | ) | | $ | 1,499 |
|
The changes in the net carrying amounts of Other intangible assets during 2013, 2012 and 2011 were partially due to amortization expense of $32, $31 and $28, respectively, as well as the impact of foreign currency translation. In 2013, 2012 and 2011, Indefinite life intangible assets included trademarks of $403 and Other finite life intangible assets included customer relationships of $193 acquired in connection with the Sanex acquisition (see Note 3, Acquisitions and Divestitures). Annual estimated amortization expense for each of the next five years is expected to be approximately $29.
