Mondelez 2014 Annual Report Download - page 74
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Table of Contents
Note 5. Goodwill and Intangible Assets
Goodwill by reportable segment was:
Intangible assets consisted of the following:
Non-amortizable intangible assets consist principally of brand names purchased through our acquisitions of Nabisco Holdings
Corp., the Spanish and Portuguese operations of United Biscuits, the global LU biscuit business of Groupe Danone S.A. and
Cadbury Limited. Amortizable intangible assets consist primarily of trademarks, customer-related intangibles, process technology,
licenses and non-compete agreements. At December 31, 2014, the weighted-average life of our amortizable intangible assets was
13.5 years.
Amortization expense for intangible assets was $206 million in 2014, $217 million in 2013 and $217 million in 2012. We currently
estimate annual amortization expense for each of the next five years to be approximately $200 million.
Changes in goodwill and intangible assets consisted of:
Changes to goodwill and intangible assets were:
71
As of December 31,
2014
2013
(in millions)
Latin America
$
1,127
$
1,262
Asia Pacific
2,395
2,504
EEMEA
1,942
2,764
Europe
8,952
10,026
North America
8,973
9,041
Goodwill
$
23,389
$
25,597
As of December 31,
2014
2013
(in millions)
Non-amortizable intangible assets
$
18,810
$
20,067
Amortizable intangible assets
2,525
2,852
21,335
22,919
Accumulated amortization
(1,000
)
(925
)
Intangible assets, net
$
20,335
$
21,994
2014
2013
Intangible
Intangible
Goodwill
Assets, at cost
Goodwill
Assets, at cost
(in millions)
Balance at January 1
$
25,597
$
22,919
$
25,740
$
23,269
Changes due to:
Currency
(2,256
)
(1,528
)
(336
)
(390
)
Divestitures
–
–
(
13
)
(7
)
Acquisition
–
–
209
48
Asset impairments
–
(
57
)
–
–
Other
48
1
(3
)
(1
)
Balance at December 31
$
23,389
$
21,335
$
25,597
$
22,919
• Divestitures – In 2013, we reduced goodwill by $13 million and intangible assets by $7 million due to the divestitures of a
chocolate business in Spain, a salty snacks business in Turkey and a confectionery business in South Africa.
• Acquisitions – In 2013, we increased goodwill by $209 million and intangible assets by $48 million due to the acquisition
of our remaining interest in a biscuit operation in Morocco.
• Asset Impairments – In 2014, we recorded $57 million of charges related to two trademarks as described below.