Goodwill and Intangible Assets, Net

12 Months Ended

Dec. 31, 2014

NOTE 7 — Goodwill and Intangible Assets, Net

The following table presents our goodwill and intangible assets as of December 31, 2014 and 2013:


	December 31,
	2014		2013
	(In thousands)
Goodwill	$	3,955,901	$	3,663,674
Intangible assets with indefinite lives		976,638		875,688
Intangible assets with definite lives, net		313,449		235,353

	$	5,245,988	$	4,774,715

Impairment Assessments. We perform our annual assessment of possible impairment of goodwill and indefinite-lived intangible assets as of October 1, or more frequently if events and circumstances indicate that impairment may have occurred. As of October 1, 2014 and 2013, we had no impairments to goodwill but recorded a $3 million impairment charge for both periods related to an indefinite-lived trade name within our Leisure segment, which was included in intangible amortization during the year ended December 31, 2014 and 2013.

Goodwill. The following table presents the changes in goodwill by reportable segment:


	Leisure			Egencia			Total
	(In thousands)
Balance as of January 1, 2013	$	2,822,388		$	193,282		$	3,015,670
Additions		636,445			—			636,445
Foreign exchange translation		10,190			1,369			11,559

Balance as of December 31, 2013		3,469,023			194,651			3,663,674
Additions		418,408			—			418,408
Foreign exchange translation		(87,854	)		(38,327	)		(126,181	)

Balance as of December 31, 2014	$	3,799,577		$	156,324		$	3,955,901

In 2014 and 2013, the additions to goodwill relate primarily to our acquisitions as described in Note 3 — Acquisitions.

As of December 31, 2014 and 2013, accumulated goodwill impairment losses in total were $2.5 billion, which is associated with Leisure.

Indefinite-lived Intangible Assets. Our indefinite-lived intangible assets relate principally to trade names and trademarks acquired in various acquisitions.

Intangible Assets with Definite Lives. The following table presents the components of our intangible assets with definite lives as of December 31, 2014 and 2013:


	December 31, 2014							December 31, 2013
	Cost		Accumulated Amortization			Net		Cost		Accumulated Amortization			Net
	(In thousands)
Supplier relationships	$	357,022	$	(200,257	)	$	156,765	$	258,973	$	(186,625	)	$	72,348
Technology		257,045		(216,841	)		40,204		253,371		(190,479	)		62,892
Customer lists		110,302		(29,225	)		81,077		93,412		(23,884	)		69,528
Affiliate agreements		157,540		(154,825	)		2,715		159,110		(154,209	)		4,901
Other		298,493		(265,805	)		32,688		286,287		(260,603	)		25,684

Total	$	1,180,402	$	(866,953	)	$	313,449	$	1,051,153	$	(815,800	)	$	235,353

Amortization expense was $80 million, $72 million and $32 million for the years ended December 31, 2014, 2013 and 2012. The estimated future amortization expense related to intangible assets with definite lives as of December 31, 2014, assuming no subsequent impairment of the underlying assets, is as follows, in thousands:


2015	$	86,753
2016		56,781
2017		42,161
2018		35,123
2019		24,997
2020 and thereafter		67,634

Total	$	313,449

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

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