XML 21 R13.htm IDEA: XBRL DOCUMENT

Goodwill and Other Intangibles Assets

6 Months Ended

Jun. 30, 2011

Jun. 30, 2010

Goodwill and Other Intangible Assets [Abstract]

7. Goodwill and Other Intangible Assets

Goodwill and other intangible assets – net, consisted of the following.

	At
	June 30,		December 31,
(In millions)	2011		2010

Goodwill	$	70,536	$	64,388

Other intangible assets
Intangible assets subject to amortization	$	11,693	$	9,867
Indefinite-lived intangible assets(a)		105		104
Total	$	11,798	$	9,971

(a) Indefinite-lived intangible assets principally comprised trademarks and tradenames.

Changes in goodwill balances follow.

					Dispositions,
	Balance				currency		Balance
	January 1,				exchange		June 30,
(In millions)	2011		Acquisitions		and other		2011

Energy Infrastructure	$	12,893	$	5,011	$	239	$	18,143
Aviation		6,073		0		(70)		6,003
Healthcare		16,338		134		60		16,532
Transportation		554		0		(2)		552
Home & Business Solutions		1,022		90		21		1,133
GE Capital		27,508		0		665		28,173
Total	$	64,388	$	5,235	$	913	$	70,536

Goodwill balances increased $6,148 million during the six months ended June 30, 2011, primarily as a result of the acquisitions of the Well Support division of John Wood Group PLC ($1,991 million), Dresser, Inc. ($1,904 million), Wellstream PLC ($834 million) and Lineage Power Holdings, Inc. ($282 million) at Energy Infrastructure, and the weaker U.S. dollar ($1,100 million).

Intangible Assets Subject to Amortization
	At
	June 30, 2011						December 31, 2010
	Gross						Gross
	carrying		Accumulated				carrying		Accumulated
(In millions)	amount		amortization		Net		amount		amortization		Net


Customer-related	$	6,647	$	(1,742)	$	4,905	$	5,498	$	(1,490)	$	4,008
Patents, licenses and trademarks		5,882		(2,443)		3,439		5,377		(2,595)		2,782
Capitalized software		6,890		(4,491)		2,399		6,256		(3,977)		2,279
Lease valuations		1,655		(989)		666		1,646		(917)		729
Present value of future profits(a)		477		(477)		0		461		(461)		0
All other		661		(377)		284		378		(309)		69
Total	$	22,212	$	(10,519)	$	11,693	$	19,616	$	(9,749)	$	9,867

(a) Balances at June 30, 2011 and December 31, 2010, reflect adjustments of $406 million and $423 million, respectively, to the present value of future profits in our run-off insurance operation to reflect the effects that would have been recognized had the related unrealized investment securities holding gains and losses actually been realized in accordance with ASC 320-10-S99-2.

Intangible assets subject to amortization increased $1,826 million in the six months ended June 30, 2011, primarily as a result of the acquisitions of Dresser, Inc. ($908 million), the Well Support division of John Wood Group PLC ($575 million), Wellstream PLC ($291 million) and Lineage Power Holdings, Inc. ($135 million) at Energy Infrastructure.

Consolidated amortization related to intangible assets subject to amortization was $416 million and $444 million in the three months ended June 30, 2011 and 2010, respectively, and $829 million and $843 million in the six months ended June 30, 2011 and 2010, respectively.

406

- 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.

+ References+ Details