Goodwill and Intangibles

12 Months Ended

Dec. 31, 2017

Goodwill And Intangible Assets Disclosure [Abstract]

Note 7: Goodwill and Intangibles

Hilton allocated $3.5 billion of goodwill to us as part of the Merger and during the year ended December 31, 2008, we recognized a $2.7 billion impairment loss. Our goodwill balance and related activity was:

	Goodwill			Accumulated Impairment Losses			Balance
	(in millions)
Balance as of December 31, 2015	$	2,751		$	(2,134	)	$	617
Distribution to Parent⁽¹⁾		(41	)		32			(9	)
Foreign currency translation		(4	)		—			(4	)
Balance as of December 31, 2016		2,706			(2,102	)		604
Distribution to Parent		—			—			—
Foreign currency translation		2			—			2
Balance as of December 31, 2017	$	2,708		$	(2,102	)	$	606

⁽¹⁾	During the year ended December 31, 2016, we made a distribution of interest in an entity with an ownership interest in the Hilton Templepatrick Hotel & Country Club to Parent. Refer to Note 15: “Net Parent Investment” for additional information.

Intangible assets were:

	December 31,
	2017			2016
	(in millions)
Acquired below market leases	$	60		$	60
Acquired below market ground leases		14			13
Other		10			9
Accumulated amortization		(43	)		(38	)
	$	41		$	44

As of December 31, 2017, we estimated our future amortization expense for our intangible assets to be:

Year	(in millions)
2018	$	5
2019		5
2020		4
2021		3
2022		3
Thereafter		21
	$	41

- 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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