ADT 2015 Annual Report Download - page 158
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FORM 10-K
The changes in the net carrying amount of contracts and related customer relationships for the years ended
September 25, 2015 and September 26, 2014 are as follows ($ in millions):
Balance as of September 27, 2013 ............................... $2,917
Acquisition of customer relationships ............................ 253
Customer contract additions, net of dealer charge-backs .............. 523
Amortization ................................................ (587)
Currency translation and other .................................. (30)
Balance as of September 26, 2014 ............................... $3,076
Customer contract additions, net of dealer charge-backs .............. 561
Amortization ................................................ (614)
Currency translation and other .................................. (59)
Balance as of September 25, 2015 ............................... $2,964
Other than goodwill, the Company does not have any other indefinite-lived intangible assets as of
September 25, 2015 and September 26, 2014. Intangible asset amortization expense for fiscal years 2015, 2014
and 2013 was $617 million, $589 million and $569 million, respectively. The weighted-average amortization
periods for contracts and related customer relationships acquired during fiscal years 2015 and 2014 were 15 and
14 years, respectively.
The estimated aggregate amortization expense for intangible assets is expected to be as follows ($ in
millions):
Fiscal 2016 .......................................... $571
Fiscal 2017 .......................................... 476
Fiscal 2018 .......................................... 398
Fiscal 2019 .......................................... 342
Fiscal 2020 .......................................... 274
5. Debt
Debt as of September 25, 2015 and September 26, 2014 consisted of the following ($ in millions):
September 25,
2015
September 26,
2014
Current maturities of long-term debt:
Capital lease obligations and other ............. $ 5 $ 4
Current maturities of long-term debt ............ 5 4
Long-term debt:
2.250% notes due July 2017 ................... $ 750 $ 750
4.125% notes due April 2019 .................. 509 498
5.250% notes due March 2020 ................. 306 —
6.250% notes due October 2021 ............... 1,020 1,001
3.500% notes due July 2022 ................... 998 998
4.125% notes due June 2023 .................. 700 700
4.875% notes due July 2042 ................... 743 743
Revolving credit facility ...................... 335 375
Capital lease obligations and other ............. 28 31
Total long-term debt ......................... 5,389 5,096
Total debt ................................. $5,394 $5,100
84