Hertz 2014 Annual Report Download - page 127

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Table of Contents



At October 1, 2014 and 2013, the Company performed its annual test of recoverability of indefinite-lived intangible assets. The Company
determined that the respective carrying values of its indefinite-lived intangible assets did not exceed their estimated fair values and therefore no
impairment existed.
Other intangible assets, net, consisted of the following major classes:










Amortizable intangible assets:
Customer-related $ 692
$ (568)
$ 124
Concession rights 410
(97)
313
Technology-related intangibles(a) 338
(147)
191
Other(b) 78
(49)
29
Total 1,518
(861)
657
Indefinite-lived intangible assets:
Trade name 3,330
—
3,330
Other(c) 22
—
22
Total 3,352
—
3,352
Total other intangible assets, net $ 4,870
$ (861)
$ 4,009













Amortizable intangible assets:
Customer-related $ 693
$ (502)
$ 191
Concession rights 410
(49)
361
Technology-related intangibles(a) 311
(114)
197
Other(b) 63
(38)
25
Total 1,477
(703)
774
Indefinite-lived intangible assets:
Trade name 3,330
—
3,330
Other(c) 20
—
20
Total 3,350
—
3,350
Total other intangible assets, net $ 4,827
$ (703)
$ 4,124
(a) Technology-related intangibles include software not yet placed into service, therefore, there is no associated amortization.
(b) Other amortizable intangible assets primarily include the Donlen trade name and non-compete agreements.
(c) Other indefinite-lived intangible assets primarily consist of reacquired franchise rights.
Amortization of other intangible assets for the years ended December 31, 2014, 2013 and 2012 was $159 million, $151 million and $106 million,
respectively. Based on its amortizable intangible assets as of December 31, 2014, the Company expects amortization expense to be
approximately $153 million in 2015, $95 million in 2016, $76 million in 2017, $70 million in 2018, $65 million in 2019 and $152 million thereafter.
115
Source: HERTZ GLOBAL HOLDINGS INC, 10-K, July 16, 2015 Powered by Morningstar® Document Research℠
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