TARGET CORP | 2013 | FY | 3


Goodwill and Intangible Assets

Goodwill increased to $151 million at February 1, 2014 from $59 million at February 2, 2013 due to three 2013 acquisitions. No impairments were recorded in 2013, 2012 or 2011 as a result of the goodwill impairment tests performed.

Intangible Assets
Leasehold
Acquisition Costs
 
Other (a)
 
Total
(millions)
February 1,
2014

February 2,
2013

 
February 1,
2014

February 2,
2013

 
February 1,
2014

February 2,
2013

Gross asset
$
241

$
237

 
$
212

$
149

 
$
453

$
386

Accumulated amortization
(130
)
(120
)
 
(117
)
(101
)
 
(247
)
(221
)
Net intangible assets
$
111

$
117

 
$
95

$
48

 
$
206

$
165

(a) 
Other intangible assets relate primarily to acquired customer lists and trademarks.

We use the straight-line method to amortize leasehold acquisition costs primarily over 9 to 39 years and other definite-lived intangibles over 3 to 15 years. The weighted average life of leasehold acquisition costs and other intangible assets was 26 years and 7 years, respectively, at February 1, 2014. Amortization expense was $25 million, $22 million, and $24 million in 2013, 2012 and 2011, respectively.

Estimated Amortization Expense
(millions)
2014

2015

2016

2017

2018

Amortization expense
$
27

$
25

$
22

$
16

$
11


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