The Hartford 2011 Annual Report Download - page 191

THE HARTFORD FINANCIAL SERVICES GROUP, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)
F-56
8. Goodwill and Other Intangible Assets
Other Intangible Assets
Accounting Policy
Net amortization expense for other intangible assets is included in other insurance operating and other expenses in the Consolidated
Statement of Operations. Acquired intangible assets primarily consist of distribution agreements and servicing intangibles, and are
included in other assets in the Consolidated Balance Sheets. With the exception of Goodwill, the Company has no intangible assets with
indefinite useful lives.
Results
Activity in acquired intangible assets that are subject to amortization is as follows:
For the years ended December 31,
2011
2010
2009
Gross carrying amount, beginning of year
$
89
$
90
$
121
Accumulated net amortization
25
18
47
Net carrying amount, beginning of year
64
72
74
Acquisition of business
—
(1)
6
Amortization, net of the accretion of interest
(9)
(7)
(8)
Net carrying amount, end of year
55
64
72
Accumulated net amortization
34
25
18
Gross carrying amount, end of year
$
89
$
89
$
90
In 2009, the Company completed two acquisitions that resulted in additional acquired intangible assets of $1 in distribution agreements
and $5 in other. In 2009, the Company fully amortized acquired intangible assets for renewal rights and other of $22 and $14,
respectively.
For the years ended December 31, 2011, 2010 and 2009, the Company did not capitalize any costs to extend or renew the term of a
recognized intangible asset. As of December 31, 2011, the weighted average amortization period was 13 years for total acquired
intangible assets. Net amortization expense for other intangibles is expected to be approximately $6 in each of the succeeding five
years.
For a discussion of present value of future profits that continue to be subject to amortization and aggregate amortization expense, see
Note 7.