Orbitz 2010 Annual Report Download - page 86

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4. Property and Equipment, Net
Property and equipment, net, consisted of the following:
December 31, 2009 December 31, 2008
(in millions)
Capitalizedsoftware ............................ $221 $188
Furniture, fixtures and equipment ................... 69 60
Leasehold improvements . . . ...................... 13 13
Construction in progress . . . ...................... 14 15
Gross property and equipment ..................... 317 276
Less: accumulated depreciation and amortization ....... (136) (86)
Property and equipment, net ...................... $181 $190
For the years ended December 31, 2009, December 31, 2008 and December 31, 2007, we recorded
depreciation and amortization expense related to property and equipment in the amount of $52 million,
$48 million and $37 million, respectively.
There were no assets subject to capital leases at December 31, 2009 and December 31, 2008.
5. Goodwill and Intangible Assets
In connection with the Blackstone Acquisition, the carrying value of our assets and liabilities was revised
to reflect fair values as of August 23, 2006. The total amount of resulting goodwill that was assigned to us
was $1.2 billion.
Goodwill and indefinite-lived intangible assets consisted of the following at December 31, 2009 and
December 31, 2008:
December 31, 2009 December 31, 2008
(in millions)
Goodwill and Indefinite-Lived Intangible Assets:
Goodwill .......................................... $713 $949
Trademarks and trade names............................ 155 232
The changes in the carrying amount of goodwill were as follows:
Amount
(in millions)
Balance at December 31, 2007, net of accumulated impairment of $0 ............. $1,181
Impairment (a) .................................................... (210)
Impact of foreign currency translation (b) ................................ (22)
Balance at December 31, 2008, net of accumulated impairment of $210. . . ......... 949
Impairment (a) .................................................... (250)
Impact of foreign currency translation (b) ................................ 14
Balance at December 31, 2009, net of accumulated impairment of $460. . . ......... $ 713
(a) During the years ended December 31, 2009 and December 31, 2008, we recorded non-cash impair-
ment charges related to goodwill and trademarks and trade names (see Note 3 — Impairment of
Goodwill and Intangible Assets).
(b) Goodwill is allocated among our subsidiaries, including certain international subsidiaries. As a result,
the carrying amount of our goodwill is impacted by foreign currency translation each period.
86
ORBITZ WORLDWIDE, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)