E-Z-GO 2007 Annual Report Download - page 71

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Notes to the Consolidated Financial Statements
50
Goodwill
The changes in the carrying amount of goodwill, by segment, are as follows:
(In millions) Bell Cessna Industrial Finance Total
Balance at January 1, 2005 $ 101 $ 322 $ 579 $ 169 $ 1,171
Acquisitions 1 — 4 — 5
Foreign currency translation — — (22) — (22)
Other — — (6) — (6)
Balance at December 31, 2005 $ 102 $ 322 $ 555 $ 169 $ 1,148
Acquisitions 259 — — — 259
Foreign currency translation — — 21 — 21
Other — — (2) — (2)
Balance at December 30, 2006 $ 361 $ 322 $ 574 $ 169 $ 1,426
Acquisitions 858 — 11 — 869
Foreign currency translation — — 23 — 23
Other (17) — — — (17)
Balance at December 29, 2007 $ 1,202 $ 322 $ 608 $ 169 $ 2,301
Acquired Intangible Assets
Our acquired intangible assets are summarized below:
December 29, 2007 December 30, 2006
Weighted-
Average
Amortization Gross Gross
Period Carrying Accumulated Carrying Accumulated
(Dollars in millions) (In years) Amount Amortization Net Amount Amortization Net
Customer agreements and contractual
relationships 13 $ 393 $ (7) $ 386 $ 35 $ (1) $ 34
Patents and technology 8 111 (22) 89 54 (10) 44
Trademarks 20 34 (10) 24 46 (8) 38
Other 7 27 (14) 13 32 (11) 21
$ 565 $ (53) $ 512 $ 167 $ (30) $ 137
Amortization expense totaled $23 million in 2007, $7 million in 2006 and $4 million in 2005. Amortization expense is estimated to be
approximately $67 million, $65 million, $60 million, $53 million and $48 million in 2008, 2009, 2010, 2011 and 2012, respectively.
Note 4. Accounts Receivable
Accounts receivable is comprised of the following:
December 29, December 30,
(In millions) 2007 2006
Commercial $ 748 $ 690
U.S. Government contracts 369 308
1,117 998
Less allowance for doubtful accounts (34) (34)
$ 1,083 $ 964
We have unbillable receivables on U.S. Government contracts that arise when the revenues we have appropriately recognized based on performance
cannot be billed yet under terms of the contract. Unbillable receivables within accounts receivable totaled $166 million at December 29, 2007 and
$144 million at December 30, 2006. Long-term contract receivables due from the U.S. Government exclude signifi cant amounts billed but unpaid
due to contractual retainage provisions.