Goodwill and Other Intangible Assets
The Company recorded goodwill totaling approximately $16 million primarily related to the acquisition of six retail locations during fiscal year 2013. No additions or adjustments to goodwill were recorded during fiscal year 2012. There were no impairments of goodwill during fiscal years 2013, 2012 or 2011. The Company acquired definite-lived intangible assets totaling approximately $6 million, primarily favorable lease assets related to the acquisition of six retail locations, during fiscal year 2013. Acquisitions of definite-lived intangible assets were not material during fiscal year 2012. The components of intangible assets were as follows (in millions):
|
| | | | | | | | | | | | | | | |
| September 29, 2013 | | September 30, 2012 |
| Gross carrying amount | | Accumulated amortization | | Gross carrying amount | | Accumulated amortization |
Definite-lived contract-based | $ | 102 |
| | $ | (40 | ) | | $ | 95 |
| | $ | (35 | ) |
Definite-lived marketing-related and other | 1 |
| | (1 | ) | | 2 |
| | (2 | ) |
Indefinite-lived contract-based | 3 |
| |
|
| | 2 |
| |
|
|
Intangible assets | $ | 106 |
| | $ | (41 | ) | | $ | 99 |
| | $ | (37 | ) |
Amortization expense associated with intangible assets totaled approximately $5 million, $6 million and $7 million, during fiscal years 2013, 2012 and 2011, respectively. Future amortization expense associated with the net carrying amount of definite-lived intangible assets is estimated to be approximately as follows (in millions):
|
| | | |
Fiscal year 2014 | $ | 5 |
|
Fiscal year 2015 | 5 |
|
Fiscal year 2016 | 4 |
|
Fiscal year 2017 | 4 |
|
Fiscal year 2018 | 4 |
|
Future fiscal years | 40 |
|
Total future estimated amortization associated with definite-lived intangible assets | $ | 62 |
|
