GOODWILL AND OTHER INTANGIBLES
We evaluate goodwill and indefinite lived intangibles for impairment annually. During 2012, we voluntarily changed the date of our annual impairment assessment from November 30 to October 1.
Goodwill
We performed our assessment as of October 1, 2013, and determined there was no impairment of goodwill. The total net carrying amount of goodwill was $1,724 million at December 31, 2013, with $1,720 million in our North America operating segment and $4 million in our Latin America operating segment. At December 31, 2012 we had $1,727 million, with $1,723 million in our North America operating segment and $4 million in our Latin America operating segment.
Other Intangible Assets
We performed our annual assessment of indefinite-life intangibles as of October 1, 2013, and determined there were no impairments to our indefinite lived intangibles.
The following table summarizes other intangible assets at December 31, 2013 and 2012:
|
| | | | | | | | | | | | | | | | | | | | | | | | |
| | 2013 | | 2012 |
Millions of dollars | | Gross Carrying Amount | | Accumulated Amortization | | Net | | Gross Carrying Amount | | Accumulated Amortization | | Net |
Other intangible assets, finite lives: | | | | | | | | | | | | |
Customer relationships (1) | | $ | 289 |
| | $ | (125 | ) | | $ | 164 |
| | $ | 289 |
| | $ | (109 | ) | | $ | 180 |
|
Patents and other (2) | | 128 |
| | (112 | ) | | 16 |
| | 123 |
| | (102 | ) | | 21 |
|
Total other intangible assets, finite lives | | $ | 417 |
| | $ | (237 | ) | | $ | 180 |
| | $ | 412 |
| | $ | (211 | ) | | $ | 201 |
|
Trademarks, indefinite lives | | 1,522 |
| | — |
| | 1,522 |
| | 1,521 |
| | — |
| | 1,521 |
|
Total other intangible assets | | $ | 1,939 |
| | $ | (237 | ) | | $ | 1,702 |
| | $ | 1,933 |
| | $ | (211 | ) | | $ | 1,722 |
|
| |
(1) | Customer relationships have an estimated useful life of 18 years. |
(2) Patents and other intangibles have an estimated useful life of 4 to 14 years.
The following table summarizes our future estimated amortization expense by year:
|
| | | |
Millions of dollars | |
2014 | $ | 22 |
|
2015 | 20 |
|
2016 | 18 |
|
2017 | 17 |
|
2018 | 17 |
|
