MasterCard 2009 Annual Report Download - page 107

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MASTERCARD INCORPORATED
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
(In thousands, except percent and per share data)
The Company had no accumulated impairment losses for goodwill at December 31, 2009, 2008 and 2007.
Note 10. Other Intangible Assets
The following table sets forth net intangible assets, other than goodwill, at December 31:
2009 2008
Gross
Carrying
Amount
Accumulated
Amortization
Net
Carrying
Amount
Gross
Carrying
Amount
Accumulated
Amortization
Net
Carrying
Amount
Amortized intangible assets:
Capitalized software ............ $581,874 $(397,284) $184,590 $513,587 $(348,022) $165,565
Trademarks and tradenames ...... 22,311 (22,263) 48 24,761 (23,314) 1,447
Customer relationships .......... 22,125 (1,988) 20,137 20,910 (620) 20,290
Other ........................ 1,803 (803) 1,000 6,304 (5,614) 690
Total .................... 628,113 (422,338) 205,775 565,562 (377,570) 187,992
Unamortized intangible assets:
Customer relationships ........ 208,929 — 208,929 206,290 — 206,290
Total ...................... $837,042 $(422,338) $414,704 $771,852 $(377,570) $394,282
Additions to capitalized software primarily relate to projects associated with system enhancements or
infrastructure improvements. Amortizable customer relationships were added in 2009 and 2008 due to the
acquisition of businesses. Certain intangible assets, including amortizable and unamortizable customer
relationships and trademarks and tradenames, are denominated in foreign currencies. As such, the change in
intangible assets includes a component attributable to foreign currency translation.
Amortization and impairment expense on the assets above amounted to the following for the years ended
December 31:
2009 2008 2007
Amortization ............................................ $65,256 $52,909 $48,331
Capitalized software impairments ........................... $ 3,183 $ 1,011 $ 298
Intangible asset impairments (other than capitalized software) ..... $ 1,944 $ — $ —
The following table sets forth the estimated future amortization expense on amortizable intangible assets for
the years ending December 31:
2010 ............................................................ $ 68,763
2011 ............................................................ 52,251
2012 ............................................................ 36,436
2013 ............................................................ 13,554
2014 and thereafter ................................................. 34,771
$205,775
97