WYNDHAM WORLDWIDE CORP | 2013 | FY | 3

Intangible Assets
Intangible assets consisted of:
 
As of December 31, 2013
 
As of December 31, 2012
 
Gross
 
 
 
Net
 
Gross
 
 
 
Net
 
Carrying
 
Accumulated
 
Carrying
 
Carrying
 
Accumulated
 
Carrying
 
Amount
 
Amortization
 
Amount
 
Amount
 
Amortization
 
Amount
Unamortized Intangible Assets:
 
 
 
 
 
 
 
 
 
 
 
Goodwill
$
1,590

 
 
 
 
 
$
1,566

 
 
 
 
Trademarks (a)
$
718

 
 
 
 
 
$
724

 
 
 
 
Amortized Intangible Assets:
 
 
 
 
 
 
 
 
 
 
 
Franchise agreements (b)
$
595

 
$
356

 
$
239

 
$
594

 
$
340

 
$
254

 Trademarks (c)
8

 
3

 
5

 
7

 
1

 
6

Other (d)
275

 
85

 
190

 
270

 
65

 
205

 
$
878

 
$
444

 
$
434

 
$
871

 
$
406

 
$
465

 
(a) 
Comprised of various trade names (primarily including the Wyndham Hotels and Resorts, Ramada, Days Inn, RCI, Landal GreenParks, Baymont Inn & Suites, Microtel Inns & Suites, Hawthorn by Wyndham, Tryp by Wyndham and Hoseasons trade names) that the Company has acquired. These trade names are expected to generate future cash flows for an indefinite period of time.
(b) 
Generally amortized over a period ranging from 20 to 40 years with a weighted average life of 35 years.
(c) 
Generally amortized over a period of 3 to 7 years with a weighted average life of 5 years.
(d) 
Includes customer lists and business contracts, generally amortized over a period ranging from 7 to 20 years with a weighted average life of 15 years.
During 2013, the Company recorded $8 million of non-cash impairment charges at its lodging business primarily related to a partial write-down of the Hawthorn trademark resulting from slower than expected growth in the brand. As of December 31, 2013, the remaining $28 million carrying amount for the Hawthorn trademark was equal to its estimated fair value as of the date of impairment. The Company utilized a discounted cash flow model for the brand using assumptions of future operating performance, growth and discount rate.
During 2012, the Company recorded an $8 million non-cash impairment charge resulting from the decision to rebrand the ResortQuest and Steamboat Resorts trade names to the Wyndham Vacation Rentals brand. During 2011, the Company recorded a $25 million non-cash impairment charge to write-down franchise and management agreements. Such amounts are included within asset impairments on the Consolidated Statements of Income (see Note 22 — Restructuring and Impairments for more information).

Goodwill
During the fourth quarters of 2013, 2012 and 2011, the Company performed its annual goodwill impairment test and determined that no impairment existed as the fair value of goodwill at its reporting units was in excess of the carrying value.

The changes in the carrying amount of goodwill are as follows:
 
Balance at December 31, 2012
 
Goodwill Acquired
During 2013
 
 Adjustments to Goodwill Acquired
During 2012
 
Foreign
Exchange
 
Balance at December 31, 2013
 
 
 
 
 
 
 
 
 
 
Lodging
$
300

 
$
—

 
$
—

 
$
—

 
$
300

Vacation Exchange and Rentals
1,241

 
12

 
4

 
6

 
1,263

Vacation Ownership
25

 
—

 
2

 
—

 
27

Total Company
$
1,566

 
$
12

 
$
6

 
$
6

 
$
1,590


Amortization expense relating to amortizable intangible assets was as follows:
 
2013
 
2012
 
2011
Franchise agreements
$
15

 
$
16

 
$
20

Other
21

 
15

 
12

Total (*)
$
36

 
$
31

 
$
32

 
(*) Included as a component of depreciation and amortization on the Consolidated Statements of Income.
Based on the Company's amortizable intangible assets as of December 31, 2013, the Company expects related amortization expense as follows:
 
Amount
2014
$
36

2015
34

2016
33

2017
32

2018
31

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