PRICELINE COM INC | 2013 | FY | 3

INTANGIBLE ASSETS AND GOODWILL
 
The Company's intangible assets at December 31, 2013 and 2012 consisted of the following (in thousands):
 
 
December 31, 2013
 
December 31, 2012
 
 
 
 
 
Gross Carrying
Amount
 
Accumulated
Amortization
 
Net Carrying
Amount
 
Gross Carrying
Amount
 
Accumulated
Amortization
 
Net Carrying
Amount
 
Amortization
Period
 
Weighted Average Useful
Life
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Supply and distribution agreements
$
581,742

 
$
(160,499
)
 
$
421,243

 
$
269,523

 
$
(122,940
)
 
$
146,583

 
10 - 20 years
 
16 years
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Technology
93,322

 
(29,271
)
 
64,051

 
23,329

 
(23,250
)
 
79

 
 3 - 5 years
 
5 years
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Patents
1,623

 
(1,478
)
 
145

 
1,638

 
(1,446
)
 
192

 
15 years
 
15 years
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Customer lists
—

 
—

 
—

 
20,500

 
(20,500
)
 
—

 
0 years
 
0 years
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Internet domain names
45,799

 
(12,112
)
 
33,687

 
39,559

 
(3,817
)
 
35,742

 
2 - 20 years
 
8 years
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Trade names
548,243

 
(47,388
)
 
500,855

 
53,817

 
(28,305
)
 
25,512

 
5 - 20 years
 
19 years
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Other
141

 
(137
)
 
4

 
326

 
(321
)
 
5

 
3 - 10 years
 
3 years
Total intangible assets
$
1,270,870

 
$
(250,885
)
 
$
1,019,985

 
$
408,692

 
$
(200,579
)
 
$
208,113

 
 
 
 

 
Intangible assets with determinable lives are amortized on a straight-line basis.  Intangible assets amortization expense is approximately $69.6 million, $32.3 million and $33.2 million for the years ended December 31, 2013, 2012 and 2011, respectively.

The annual estimated amortization expense for intangible assets for the next five years and thereafter is expected to be as follows (in thousands):
 
2014
$
90,533

2015
87,518

2016
84,451

2017
80,373

2018
64,365

Thereafter
612,745

 
$
1,019,985


 
A roll-forward of goodwill for the years ended December 31, 2013 and 2012 consists of the following (in thousands):
 
 
2013
 
2012
Balance, beginning of year
$
522,672

 
$
504,784

Acquisition
1,232,342

 
4,462

Currency translation adjustments
12,898

 
13,426

Balance, end of year
$
1,767,912

 
$
522,672


 
A substantial portion of the intangibles and goodwill relates to the acquisition of the KAYAK business in May 2013. See Note 20 for further information on the acquisition.

As of September 30, 2013, the Company performed its annual goodwill impairment testing using standard valuation techniques. Since the annual impairment test, there have been no events or changes in circumstances to indicate a potential impairment.

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