DuPont 2011 Annual Report Download - page 68

Table of Contents E. I. du Pont de Nemours and Company
Notes to the Consolidated Financial Statements (continued)
(Dollars in millions, except per share)
Other Intangible Assets
The following table summarizes the gross carrying amounts and accumulated amortization of other intangible assets by major class:
December 31, 2011 December 31, 2010
Gross Accumulated
Amortization Net Gross Accumulated Amortization Net
Intangible assets subject to amortization
(Definite-lived)
Customer lists $ 1,841 $ (220) $ 1,621 $ 525 $ (160) $ 365
Patents 518 (77) 441 118 (44) 74
Purchased and licensed technology 1,854 (878) 976 1,617 (765) 852
Trademarks 57 (25) 32 57 (22) 35
Other1330 (151) 179 333 (163) 170
4,600 (1,351) 3,249 2,650 (1,154) 1,496
Intangible assets not subject to amortization
(Indefinite-lived)
In-process research and development 70 — 70 — — —
Microbial cell factories2306 — 306 — — —
Pioneer germplasm3975 — 975 975 — 975
Trademarks/tradenames 813 — 813 233 — 233
2,164 — 2,164 1,208 — 1,208
Total $ 6,764 $ (1,351) $ 5,413 $ 3,858 $ (1,154) $ 2,704
1. Primarily consists of sales and grower networks, marketing and manufacturing alliances and noncompetition agreements.
2. Microbial cell factories, derived from natural microbes, are used to sustainably produce enzymes, peptides and chemicals using natural metabolic processes. The company recognized the
microbial cell factories as an intangible asset upon the acquisition of Danisco. This intangible asset is expected to contribute to cash flows beyond the foreseeable future and there are no
legal, regulatory, contractual, or other factors which limit its useful life.
3. Pioneer germplasm is the pool of genetic source material and body of knowledge gained from the development and delivery stage of plant breeding. The company recognized germplasm
as an intangible asset upon the acquisition of Pioneer. This intangible asset is expected to contribute to cash flows beyond the foreseeable future and there are no legal, regulatory,
contractual, or other factors which limit its useful life.
The aggregate pre-tax amortization expense for definite-lived intangible assets was $277, $176 and $252 for 2011, 2010 and 2009, respectively. The estimated
aggregate pre-tax amortization expense for 2012, 2013, 2014, 2015 and 2016 is $338, $338, $338, $332 and $269, respectively, which are primarily reported
in cost of goods sold and other operating charges. Estimated aggregate pre-tax amortization expense includes approximately $110 of amortization expense in
each of the next five years related to definite-lived intangible assets acquired as part of the Danisco transaction.
11. SHORT-TERM BORROWINGS AND CAPITAL LEASE OBLIGATIONS
December 31, 2011 2010
Commercial paper $ 390 $ —
Other loans-various currencies 15 128
Long-term debt payable within one year 410 4
Capital lease obligations 2 1
$ 817 $ 133
The estimated fair value of the company's short-term borrowings, including interest rate financial instruments, based on quoted market prices for the same or
similar issues, or on current rates offered to the company for debt of the same remaining maturities, was $830 and $130 at December 31, 2011 and 2010,
respectively.
Unused bank credit lines were approximately $4,400 and $2,600 at December 31, 2011 and 2010, respectively. These lines are available to support short-term
liquidity needs and general corporate purposes including letters of credit. Outstanding letters of credit were $354 and $424 at December 31, 2011 and 2010,
respectively. These letters of credit support commitments made in the
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