NOTE 7 — Goodwill and Intangible Assets, Net
The following table presents our goodwill and intangible assets as of December 31, 2013 and 2012:
| December 31, | ||||||||
| 2013 | 2012 | |||||||
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Goodwill |
$ | 3,663,674 | $ | 3,015,670 | ||||
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Intangible assets with indefinite lives |
875,688 | 657,865 | ||||||
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Intangible assets with definite lives, net |
235,353 | 163,554 | ||||||
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| $ | 4,774,715 | $ | 3,837,089 | |||||
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Impairment Assessments. We perform our annual assessment of possible impairment of goodwill and indefinite-lived intangible assets as of October 1, or more frequently if events and circumstances indicate that impairment may have occurred. As of October 1, 2013, we had no impairments to goodwill but recorded a $3 million impairment charge related to an indefinite-lived trade name within our Leisure segment, which was included in intangible amortization during the year ended December 31, 2013. As of October 1, 2012, we had no impairments.
Goodwill. The following table presents the changes in goodwill by reportable segment:
| Leisure | Egencia | Total | ||||||||||
| (In thousands) | ||||||||||||
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Balance as of January 1, 2012 |
$ | 2,814,486 | $ | 62,815 | $ | 2,877,301 | ||||||
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Additions |
2,684 | 128,730 | 131,414 | |||||||||
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Foreign exchange translation |
5,218 | 1,737 | 6,955 | |||||||||
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Balance as of December 31, 2012 |
2,822,388 | 193,282 | 3,015,670 | |||||||||
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Additions |
636,445 | — | 636,445 | |||||||||
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Foreign exchange translation |
10,190 | 1,369 | 11,559 | |||||||||
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Balance as of December 31, 2013 |
$ | 3,469,023 | $ | 194,651 | $ | 3,663,674 | ||||||
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In 2013 and 2012, the additions to goodwill relate primarily to our acquisitions as described in Note 3 — Acquisitions and are not expected to be deductible for tax purposes.
As of December 31, 2013 and 2012, accumulated goodwill impairment losses in total were $2.5 billion, which is associated with Leisure.
Indefinite-lived Intangible Assets. Our indefinite-lived intangible assets relate principally to trade names and trademarks acquired in various acquisitions.
Intangible Assets with Definite Lives. The following table presents the components of our intangible assets with definite lives as of December 31, 2013 and 2012:
| December 31, 2013 | December 31, 2012 | |||||||||||||||||||||||
| Cost | Accumulated Amortization |
Net | Cost | Accumulated Amortization |
Net | |||||||||||||||||||
| (In thousands) | ||||||||||||||||||||||||
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Supplier relationships |
$ | 329,424 | $ | (263,138 | ) | $ | 66,286 | $ | 282,884 | $ | (244,083 | ) | $ | 38,801 | ||||||||||
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Technology |
287,984 | (214,983 | ) | 73,001 | 209,901 | (185,709 | ) | 24,192 | ||||||||||||||||
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Customer lists |
109,969 | (36,360 | ) | 73,609 | 109,971 | (26,275 | ) | 83,696 | ||||||||||||||||
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Affiliate agreements |
38,514 | (37,412 | ) | 1,102 | 38,627 | (33,911 | ) | 4,716 | ||||||||||||||||
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Other |
285,262 | (263,907 | ) | 21,355 | 267,728 | (255,579 | ) | 12,149 | ||||||||||||||||
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Total |
$ | 1,051,153 | $ | (815,800 | ) | $ | 235,353 | $ | 909,111 | $ | (745,557 | ) | $ | 163,554 | ||||||||||
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Amortization expense was $72 million, $32 million, and $22 million for the years ended December 31, 2013, 2012 and 2011.
The estimated future amortization expense related to intangible assets with definite lives as of December 31, 2013, assuming no subsequent impairment of the underlying assets, is as follows, in thousands:
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2014 |
$ | 70,784 | ||
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2015 |
56,570 | |||
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2016 |
34,937 | |||
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2017 |
20,012 | |||
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2018 |
16,071 | |||
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2019 and thereafter |
36,979 | |||
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Total |
$ | 235,353 | ||
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