Dow Chemical 2015 Annual Report Download - page 104
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94
Intangible assets acquired as part of the Univation step acquisition are presented in the table below. See Note 4 for additional
information on this acquisition.
Univation Intangible Assets
Gross
Carrying
Amount
Weighted-
average
Amortization
Period
In millions
Intangible assets with finite lives:
Licenses and intellectual property $ 340 10 years
Software 5 5 years
Trademarks 12 18 years
Customer-related 76 10 years
Total $ 433 10 years
The following table provides information regarding amortization expense related to intangible assets:
Amortization Expense
In millions 2015 2014 2013
Other intangible assets, excluding software (1) $ 419 $ 436 $ 461
Software, included in “Cost of sales” $ 72 $ 70 $ 67
(1) Includes a $3 million asset impairment charge related to intangible assets in 2013.
During 2014, the Company recognized a $50 million asset impairment charge related to customer-related, trademarks and
intellectual property intangible assets in the Dow Electronic Materials business, which is recorded in "Goodwill and other
intangible asset impairment losses" in the consolidated statements of income and reflected in Consumer Solutions. During
2013, the Company recognized a $3 million asset impairment charge related to software, which is recorded in "Cost of sales" in
the consolidated statements of income and reflected in Corporate.
Total estimated amortization expense for the next five fiscal years is as follows:
Estimated Amortization Expense
for Next Five Years
In millions
2016 $ 486
2017 $ 467
2018 $ 453
2019 $ 387
2020 $ 357