Sears 2009 Annual Report Download - page 89

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SEARS HOLDINGS CORPORATION
Notes to Consolidated Financial Statements—(Continued)
NOTE 13—GOODWILL AND INTANGIBLE ASSETS
The following summarizes our intangible assets as of January 30, 2010 and January 31, 2009, respectively,
the amortization expenses recorded for the fiscal years then ended, as well as our estimated amortization expense
for the next five fiscal years and thereafter.
Weighted
Average Life
January 30, 2010 January 31, 2009
millions
Gross
Carrying
Amount
Accumulated
Amortization
Gross
Carrying
Amount
Accumulated
Amortization
Amortized intangible assets
Favorable lease rights ................. 22 $ 451 $194 $ 460 $164
Contractual arrangements and customer
lists .............................. 9 226 121 247 117
Trade names ......................... 8 75 40 75 29
752 355 782 310
Unamortized intangible assets
Trade names ......................... 2,811 — 2,811 —
Total ................................... $3,563 $355 $3,593 $310
Aggregate Amortization Expense
Fiscal 2009 ...................................................... $ 74
Fiscal 2008 ...................................................... 84
Fiscal 2007 ...................................................... 90
Estimated Amortization
Fiscal 2010 ...................................................... $ 68
Fiscal 2011 ...................................................... 63
Fiscal 2012 ...................................................... 59
Fiscal 2013 ...................................................... 36
Fiscal 2014 ...................................................... 27
Thereafter ....................................................... 144
Goodwill is the excess of the purchase price over the fair value of the net assets acquired in business
combinations accounted for under the purchase method. We recorded $1.7 billion in goodwill in connection with
the Merger. We recorded $12 million in connection with our acquisition of an additional 3% interest in Sears
Canada during fiscal 2008.
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