Goodwill and Intangible Assets
The following table presents the net carrying amount of goodwill allocated by reporting unit, and changes during 2013:
|
| | | | | | | | | | | | | | | |
(In millions) | Balance at December 31, 2012 | | Divestitures | | Translation | | Balance at December 31, 2013 |
North America | $ | 93 |
| | $ | — |
| | $ | — |
| | $ | 93 |
|
Europe, Middle East and Africa | 497 |
| | (1 | ) | | 15 |
| | 511 |
|
Asia Pacific | 74 |
| | — |
| | (10 | ) | | 64 |
|
| $ | 664 |
| | $ | (1 | ) | | $ | 5 |
| | $ | 668 |
|
The following table presents the net carrying amount of goodwill allocated by reporting unit, and changes during 2012:
|
| | | | | | | | | | | | | | | |
(In millions) | Balance at December 31, 2011 | | Divestitures | | Translation | | Balance at December 31, 2012 |
North America | $ | 93 |
| | $ | — |
| | $ | — |
| | $ | 93 |
|
Europe, Middle East and Africa | 484 |
| | (2 | ) | | 15 |
| | 497 |
|
Asia Pacific | 77 |
| | — |
| | (3 | ) | | 74 |
|
| $ | 654 |
| | $ | (2 | ) | | $ | 12 |
| | $ | 664 |
|
The following table presents information about intangible assets:
|
| | | | | | | | | | | | | | | | | | | | | | | |
| 2013 | | 2012 |
(In millions) | Gross Carrying Amount(1) | | Accumulated Amortization(1) | | Net Carrying Amount | | Gross Carrying Amount(1) | | Accumulated Amortization(1) | | Net Carrying Amount |
Intangible assets with indefinite lives | $ | 128 |
| | $ | (6 | ) | | $ | 122 |
| | $ | 128 |
| | $ | (6 | ) | | $ | 122 |
|
Trademarks and patents | 17 |
| | (10 | ) | | 7 |
| | 20 |
| | (12 | ) | | 8 |
|
Other intangible assets | 22 |
| | (13 | ) | | 9 |
| | 21 |
| | (11 | ) | | 10 |
|
| $ | 167 |
| | $ | (29 | ) | | $ | 138 |
| | $ | 169 |
| | $ | (29 | ) | | $ | 140 |
|
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| |
(1) | Includes impact of foreign currency translation. |
Intangible assets primarily comprise the right to use certain brand names and trademarks on a non-competitive basis related to our global alliance with Sumitomo Rubber Industries, Ltd.
Amortization expense for intangible assets totaled $3 million, $3 million and $4 million in 2013, 2012 and 2011, respectively. We estimate that annual amortization expense related to intangible assets will be approximately $2 million in 2014, $1 million each year in 2015 through 2018; and the weighted average remaining amortization period is approximately 23 years.
Our annual impairment analyses for 2013, 2012 and 2011 indicated no impairment of goodwill or intangible assets with indefinite lives. In addition, there were no events or circumstances that indicated the impairment test should be re-performed for goodwill or for intangible assets with indefinite lives for any segment at December 31, 2013.
