Macy's 2013 Annual Report Download - page 63
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Table of Contents
The following summarizes the Company’s goodwill and other intangible assets:
Non-amortizing intangible assets
Goodwill $9,125
$9,125
Accumulated impairment losses (5,382)
(5,382)
3,743
3,743
Tradenames 414
414
$4,157
$4,157
Amortizing intangible assets
Favorable leases $ 188
$230
Customer relationships 188
188
376
418
Accumulated amortization
Favorable leases (104)
(131)
Customer relationships (159)
(140)
(263)
(271)
$113
$147
Intangible amortization expense amounted to $34 million for 2013, $37 million for 2012 and $39 million for 2011.
Future estimated intangible amortization expense is shown below:
Fiscal year
2014 $31
2015 21
2016 8
2017 7
2018 7
Favorable lease intangible assets are being amortized over their respective lease terms (weighted average life of approximately twelve years) and customer
relationship intangible assets are being amortized over their estimated useful lives of ten years.
F-17