Kodak 2007 Annual Report Download - page 58
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57
Due to the realignment of the Company’s operating model and change in reporting structure, as described in Note 24, “Segment Information,” effective
January 1, 2007, the Company reassessed its goodwill for impairment during the first quarter of 2007, and determined that no reporting units’ carrying
values exceeded their respective estimated fair values based on the realigned reporting structure and, therefore, there was no impairment.
The gross carrying amount and accumulated amortization by major intangible asset category for 2007 and 2006 were as follows:
As of December 31, 2007
(in millions) Gross Carrying Amount Accumulated Amortization Net Weighted-Average Amortization Period
Technology-based $ 326 $ 166 $ 160 7 years
Customer-related 281 125 156 10 years
Other 82 36 46 8 years
Total $ 689 $ 327 $ 362 8 years
As of December 31, 2006
(in millions) Gross Carrying Amount Accumulated Amortization Net Weighted-Average Amortization Period
Technology-based $ 324 $ 119 $ 205 7 years
Customer-related 274 95 179 10 years
Other 214 88 126 8 years
Total $ 812 $ 302 $ 510 8 years
During the fourth quarter of 2007, the Company announced its intention to dispose of its stake in Lucky Film Co., Ltd., and to terminate its manufacturing
exclusivity agreement. In connection with this plan, the Company recorded an asset impairment charge against earnings of $46 million, which is included
in other operating (income) expenses, net on the Consolidated Statement of Operations. In addition, other intangible assets and accumulated amortization
were written down by $132 million and $86 million, respectively. See Note 7, “Investments.”
Amortization expense related to intangible assets was $106 million, $120 million, and $100 million for the year ended December 31, 2007, 2006 and 2005,
respectively.
Estimated future amortization expense related to purchased intangible assets as of December 31, 2007 is as follows (in millions):
2008 $ 79
2009 74
2010 63
2011 40
2012 25
2013+ 56
Total $ 337
The difference between the net intangible balance at December 31, 2007 and the total estimated future amortization expense of approximately $25 million
is related to assets held for sale at December 31, 2007.