Energy Transfer 2012 Annual Report Download - page 163

F - 18
Components and useful lives of intangible assets were as follows:
December 31, 2012 December 31, 2011
Gross Carrying
Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization
Amortizable intangible assets:
Customer relationships, contracts and agreements (3 to
46 years) $ 1,290 $ (80) $ 338 $ (95)
Noncompete agreements (3 to 15 years) — — 15 (8)
Patents (9 years) 48 (1) 1 —
Other (10 to 15 years) 4 (1) 2 (1)
Total amortizable intangible assets $ 1,342 $ (82) $ 356 $ (104)
Non-amortizable intangible assets –
Trademarks 301 — 79 —
Total intangible assets $ 1,643 $ (82) $ 435 $ (104)
Related to the Sunoco Merger and Holdco Transaction discussed in Note 3, we recorded customer contracts of $1.07 billion
with useful lives ranging from 5 to 20 years, patents of $48 million with useful lives of 10 years and non-amortizable trademarks
of $301 million during the year ended December 31, 2012.
Aggregate amortization expense of intangible assets was as follows:
Years Ended December 31,
2012 2011 2010
Reported in depreciation and amortization $ 36 $ 24 $ 20
Estimated aggregate amortization expense for the next five years is as follows:
Years Ending December 31:
2013 $ 87
2014 86
2015 86
2016 86
2017 86
We review amortizable intangible assets for impairment whenever events or changes in circumstances indicate that the carrying
amount of such assets may not be recoverable. If such a review should indicate that the carrying amount of amortizable
intangible assets is not recoverable, we reduce the carrying amount of such assets to fair value. We review non-amortizable
intangible assets for impairment annually, or more frequently if circumstances dictate.
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