Xerox 2012 Annual Report Download - page 83

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81Xerox 2012 Annual Report
Intangible Assets, Net
Net intangible assets were $2.8 billion at December 31, 2012 and approximately $2.4 billion related to the Services segment and $0.4 billion related
to the Document Technology segment. Intangible assets were comprised of the following:
December 31, 2012 December 31, 2011
Weighted Gross Gross
Average Carrying Accumulated Net Carrying Accumulated Net
Amortization Amount Amortization Amount Amount Amortization Amount
Customer relationships 12 years $ 3,562 $ 1,052 $ 2,510 $ 3,522 $ 751 $ 2,771
Distribution network 25 years 123 64 59 123 59 64
Trademarks (1) 20 years 257 59 198 238 47 191
Technology, patents and non-compete (1) 4 years 23 7 16 29 13 16
Total Intangible Assets $ 3,965 $ 1,182 $ 2,783 $ 3,912 $ 870 $ 3,042
(1) Includes $10 and $5 of indefinite-lived assets within trademarks and technology, respectively, related to the 2010 acquisition of ACS.
Amortization expense related to intangible assets was $328, $401,
and $316 for the years ended December 31, 2012, 2011 and 2010,
respectively. Amortization expense for 2011 includes $52 for the
accelerated write-off of the ACS trade name as a result of the fourth
quarter 2011 decision to discontinue its use and transition our services
business to the “Xerox Business Services” trade name.
Excluding the impact of additional acquisitions, amortization expense
is expected to approximate $333 in 2013 and 2014, and $328 in years
2015 through 2017.