Kraft 2009 Annual Report Download - page 207
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Goodwill and Intangible Assets:
Goodwill and Intangible Assets:
(USD $)
12 Months Ended
12/31/2009
Goodwill and Intangible Assets:
Note 5. Goodwill and Intangible Assets:
At December 31, 2009 and 2008, goodwill by reportable segment was:
2009 2008
(in millions)
Kraft Foods
North
America:
U.S.
Beverages $ 1,290 $ 1,290
U.S.
Cheese 3,000 3,000
U.S.
Convenient
Meals 1,460 1,460
U.S.
Grocery 3,046 3,046
U.S. Snacks 6,948 6,965
Canada &
N.A.
Foodservice
2,340 2,306
Kraft Foods
Europe (1) 6,756 5,893
Kraft Foods
Developing
Markets 3,924 3,621
Total goodwill $ 28,764 $ 27,581
(1) This segment was formerly known as
European Union.
As discussed in Note 16, Segment Reporting, we implemented changes to our operating structure in 2009. As a
result of these changes, we aligned the reporting of our Central Europe operations into our Kraft Foods
Developing Markets segment and moved $1,534 million of goodwill from Kraft Foods Europe to Kraft Foods
Developing Markets.
2009 2008
(in millions)
Non-amortizable
intangible
assets $ 13,262 $ 12,758
Amortizable
intangible
assets 278 254
13,540 13,012
Accumulated
amortization
(111) (86)
Intangible
assets,
net $ 13,429 $ 12,926
Non-amortizable intangible assets consist principally of brand names purchased through our acquisitions of Nabisco Holdings Corp.,
LU Biscuit and the Spanish and Portuguese operations of United Biscuits. Amortizable intangible assets consist primarily of trademark
licenses, customer-related intangibles and non-compete agreements.
The movements in goodwill and intangible assets were:
2009 2008
Goodwill
Intangible
Assets, at cost Goodwill
Intangible
Assets, at cost
(in millions)
Balance at
January 1
$ 27,581 $ 13,012 $ 31,193 $ 12,262
Changes
due to:
Foreign
currency
1,200 544 (1,062) (516)
Acquisitions
- - (1,187) 1,356
Divestitures
(17) - (1,272) (37)
Asset
impairments
- (12) (35) (53)
Other - (4) (56) -
Balance at
December 31
$ 28,764 $ 13,540 $ 27,581 $ 13,012
Changes to goodwill and intangible assets during 2009 were:
• Divestitures - We reduced goodwill by $17 million due to the divestiture of our Balance bar operations in
the U.S.
Source: KRAFT FOODS INC, 10-K, February 25, 2010 Powered by Morningstar® Document Research℠