Kodak 2015 Annual Report Download - page 22

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Based upon the results of Kodak’s October 1, 2015 analysis, Kodak concluded that the carrying value of the Intellectual Property Solutions reporting unit exceeded
its implied fair value and recorded a pre-tax impairment charge of $2 million in the fourth quarter of 2015 that is included in Other operating expense (income), net
in the Consolidated Statement of Operations representing the entire amount of goodwill for this reporting unit. No impairment of goodwill was indicated for any
other reporting units as of October 1 or December 31 valuation dates .
The gross carrying amount and accumulated amortization by major intangible asset category as of December 31, 2015 and 2014 were as follows:
As of December 31, 2015
(in millions)
Gross Carrying
Amount
Accumulated
Amortization Net
Weighted-Average
Amortization Period
Technology-based $ 131 $ 47 $ 84 6 years
Kodak trade name 46 — 46 Indefinite life
Customer-related 37 11 26 7 years
Other 2 — 2 20 years
Total $ 216 $ 58 $158
As of December 31, 2014
(in millions)
Gross Carrying
Amount
Accumulated
Amortization Net
Weighted-Average
Amortization Period
Technology-based $ 131 $ 27 $104 7 years
Kodak trade name 46 — 46 Indefinite life
Customer-related 36 6 30 8 years
Other 2 — 2 21 years
Total $ 215 $ 33 $182
Based upon the results of Kodak’s October 1, 2015 and December 31, 2015 impairment tests, no impairment of the Kodak trade name was indicated. In the fourth
quarter of 2013, Kodak concluded that the carrying value of the Kodak trade name, estimated as part of fresh start accounting, exceeded its fair value and Kodak
recorded a pre-tax impairment charge of $8 million that is included in Other operating expense (income), net in the Consolidated Statement of Operations.
Amortization expense related to intangible assets was $25 million, $25 million, $8 million and $10 million for the years ended December 31, 2015 and
December 31, 2014, four months ended December 31, 2013, and eight months ended August 31, 2013, respectively.
Estimated future amortization expense related to intangible assets that are currently being amortized as of December 31, 2015 was as follows:
(in millions)
2016 $ 25
2017 23
2018 18
2019 10
2020 9
2021 and thereafter 27
Total $112
21