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Table of Contents
SEAGATE TECHNOLOGY PLC
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
have an indefinite useful life and is not amortized, but instead tested for impairment annually or more frequently if events or changes in
circumstance indicate that the asset might be impaired. If the carrying amount of in-process research and development exceeds its fair value, an
impairment loss is recognized in an amount equal to that excess. There were no impairment charges recognized for in-process research and
development. Upon completion of the in-process research and development, the related assets will be accounted for as a finite-lived intangible
asset, and will be amortized over its useful life.
In fiscal years 2014, 2013 and 2012, amortization expense for other intangible assets was $131 million, $147 million and $75 million,
respectively.
The carrying value of other intangible assets subject to amortization as of June 27, 2014, is set forth in the following table:
The carrying value of In-process research and development not subject to amortization was $39 million on June 27, 2014.
The carrying value of other intangible assets subject to amortization as of June 28, 2013 is set forth in the following table:
The carrying value of In-process research and development not subject to amortization was $44 million on June 28, 2013.
81
(Dollars in millions)
Gross Carrying
Amount
Accumulated
Amortization
Net Carrying
Amount
Weighted Average
Remaining Useful Life
Existing technology
$
24
$
(1
)
$
23
5.2 years
Customer relationships
450
(192
)
258
3.3 years
Trade name
10
(1
)
3.1 years
In-process research and
development
(a)
44
(17
)
27
1.0 year
Other intangible assets
(1
)
4.4 years
1
1
1
1
1
1
1
1
1
Total amortizable other
intangible assets
$
532
$
(212
)
$
320
3.2 years
1
1
1
1
1
1
1
1
1
(a) During the fiscal year 2014 quarter ended December 2013, the In-process research and development was completed, and
the related asset was accounted for as a finite
-
lived intangible asset.
(Dollars in millions)
Gross Carrying
Amount
Accumulated
Amortization
Net Carrying
Amount
Weighted Average
Remaining Useful Life
Existing technology
$
138
$
(105
)
$
33
0.5 years
Customer relationships
431
(114
)
317
4.3 years
Trade name
14
(3
)
11
4.1 years
1
1
1
1
1
1
1
1
1
Total amortizable other
intangible assets
$
583
$
(222
)
$
361
3.9 years
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1