Energy Transfer 2015 Annual Report Download - page 181
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Table of Contents
Restricted funds primarily consisted of restricted cash held in our wholly-owned captive insurance companies.
Intangible Assets
Intangible assets are stated at cost, net of amortization computed on the straight-line method. The Partnership removes the gross carrying amount and the
related accumulated amortization for any fully amortized intangibles in the year they are fully amortized.
Components and useful lives of intangible assets were as follows:
December 31, 2015
December 31, 2014
Gross Carrying
Amount
Accumulated
Amortization
Gross Carrying
Amount
Accumulated
Amortization
Amortizable intangible assets:
Customer relationships, contracts and agreements (3 to 46
years) $ 4,601
$ (554)
$ 5,067
$ (464)
Patents (9 years) 48
(16)
48
(11)
Trade Names (15 years) 66
(18)
556
(15)
Other (1 to 15 years) 6
(3)
36
(7)
Total amortizable intangible assets $ 4,721
$ (591)
$ 5,707
$ (497)
Non-amortizable intangible assets:
Trademarks 291
—
316
—
Total intangible assets $ 5,012
$ (591)
$ 6,023
$ (497)
Aggregate amortization expense of intangible assets was as follows:
Years Ended December 31,
2015
2014
2013
Reported in depreciation, depletion and amortization $ 216
$ 212
$ 117
Estimated aggregate amortization expense for the next five years is as follows:
Years Ending December 31:
2016 $ 195
2017 195
2018 195
2019 193
2020 193
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.
In 2015, we recorded $24 million of intangible asset impairments related to the liquids transportation and services segment primarily due to an expected
decrease in future cash flows.
Goodwill
Goodwill is tested for impairment annually or more frequently if circumstances indicate that goodwill might be impaired. The annual impairment test is
performed during the fourth quarter.
F - 20