Walgreens 2015 Annual Report Download - page 93
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The carrying amount and accumulated amortization of intangible assets consist of the following (in millions):
August 31, 2015 August 31, 2014
Gross Amortizable Intangible Assets
Purchased prescription files $ 885 $1,079
Favorable lease interests 440 382
Purchasing and payer contracts 94 301
Non-compete agreements 154 151
Trade names and trademarks 675 191
Customer relationships 1,409 —
Loyalty card holders 730 —
Other amortizable intangible assets — 4
Total gross amortizable intangible assets 4,387 2,108
Accumulated amortization
Purchased prescription files 470 474
Favorable lease interests 207 174
Purchasing and payer contracts 65 145
Non-compete agreements 92 70
Trade names and trademarks 83 69
Customer relationships 132 —
Loyalty card holders 41 —
Other amortizable intangible assets — 4
Total accumulated amortization 1,090 936
Total amortizable intangible assets, net $ 3,297 $1,172
Indefinite Lived Intangible Assets
Trade names and trademarks $ 6,590 $ 8
Pharmacy licenses 2,464 —
Total indefinite lived intangible assets $ 9,054 $ 8
Total intangible assets, net $12,351 $1,180
Amortization expense for intangible assets was $480 million, $282 million and $289 million in fiscal 2015, 2014
and 2013, respectively.
The weighted-average amortization period by intangible asset category is as follows (in years):
Intangible asset class 2015 2014
Purchased prescription files 6 6
Favorable lease interests 13 11
Purchasing and payer contracts 10 13
Non-compete agreements 5 5
Trade names and trademarks 9 12
Customer relationships 12 —
Loyalty card holders 12 —
Other amortizable intangible assets — 8
Estimated annual amortization expense for intangible assets recorded at August 31, 2015 is as follows (in
millions):
2016 2017 2018 2019 2020
Estimated annual amortization expense $442 $398 $352 $323 $267
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