GOODWILL AND INTANGIBLE ASSETS
The following table details the composition of our other intangible assets at year-end 2013 and 2012:
|
| | | | | | | |
($ in millions) | At Year-End 2013 | | At Year-End 2012 |
Contract acquisition costs and other | $ | 1,554 |
| | $ | 1,512 |
|
Accumulated amortization | (423 | ) | | (397 | ) |
| $ | 1,131 |
| | $ | 1,115 |
|
We capitalize both direct and incremental costs that we incur to acquire management, franchise, and license agreements. We amortize these costs on a straight-line basis over the initial term of the agreements, ranging from 15 to 30 years. Our amortization expense totaled $68 million in 2013, $54 million in 2012, and $57 million in 2011. Our estimated aggregate amortization expense for each of the next five fiscal years is as follows: $59 million for 2014; $59 million for 2015; $59 million for 2016; $59 million for 2017; and $59 million for 2018.
The following table details the carrying amount of our goodwill at year-end 2013 and 2012:
|
| | | | | | | |
($ in millions) | At Year-End 2013 | | At Year-End 2012 |
Goodwill | $ | 928 |
| | $ | 928 |
|
Accumulated impairment losses | (54 | ) | | (54 | ) |
| $ | 874 |
| | $ | 874 |
|
