Avis 2009 Annual Report Download - page 84

Table of Contents
Intangible assets consisted of:
Amortization expense relating to all intangible assets was as follows:
Based on the Company’s amortizable intangible assets at December 31, 2009, the Company expects related amortization expense to
approximate $3 million for each of the five succeeding fiscal years.
The carrying amount of goodwill and related charges are as follows:
F
-
22
8.
Intangible Assets
As of December 31, 2009
As of December 31, 2008
Gross
Carrying
Amount
Accumulated
Amortization
Net
Carrying
Amount
Gross
Carrying
Amount
Accumulated
Amortization
Net
Carrying
Amount
Amortized Intangible Assets
Franchise agreements
$
73
$
22
$
51
$
73
$
20
$
53
Customer lists
19
9
10
19
8
11
Other
2
1
1
2
1
1
$
94
$
32
$
62
$
94
$
29
$
65
Unamortized Intangible Assets
Goodwill
$
76
$
75
Trademarks
$
416
$
402
Primarily amortized over a period ranging from 25 to 40 years.
Primarily amortized over 20 years.
Primarily amortized over 27 years.
The increase in trademarks is primarily due to fluctuations in foreign currency.
Year Ended December 31,
2009
2008
2007
Franchise agreements
$
2
$
2
$
2
Customer lists
1
1
1
Total
$
3
$
3
$
3
Domestic Car
Rental
International
Car Rental
Truck
Rental
Total
Company
Balance, January 1, 2008
$
569
$
329
$
102
$
1,000
2008 impairment
(569
)
(267
)
(87
)
(923
)
Adjustments
-
(2
)
-
(2
)
Balance, December 31, 2008
-
60
15
75
Adjustments
-
1
-
1
Balance, December 31, 2009
$
-
$
61
$
15
$
76
Gross goodwill
1,355
596
243
2,194
Accumulated impairment losses
(1,355
)
(535
)
(228
)
(2,118
)
Balance, December 31, 2009
$
-
$
61
$
15
$
76
Adjustments due to foreign exchange.
(a)
(b)
(c)
(d)
(a)
(b)
(c)
(d)
(a)
(a)
(a)