Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2017

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill balances attributable to consolidated businesses, by segment, are set forth in the following table.



	December 31, 2017		December 31, 2016
	(In millions)
Agricultural Services	$	88	$	63
Corn Processing	280		260
Oilseeds Processing	132		92
Wild Flavors and Specialty Ingredients	1,870		1,822
Other	4		9
Total	$	2,374	$	2,246

The changes in goodwill during the year ended December 31, 2017 primarily related to foreign currency translation adjustments of $98 million and acquisitions of $33 million (see Note 2) partially offset by a divestiture.

The following table sets forth the other intangible assets:



		December 31, 2017							December 31, 2016
	Useful	Gross		Accumulated					Gross		Accumulated
	Life	Amount		Amortization			Net		Amount		Amortization			Net
	(In years)	(In millions)
Intangible assets with indefinite lives:
Trademarks/brands		$	235	$	—		$	235	$	218	$	—		$	218
Other		1		—			1		1		—			1

Intangible assets with definite lives:
Trademarks/brands	20	28		(9		)	19		25		(8		)	17
Customer lists	3 to 20	829		(183		)	646		793		(128		)	665
Patents	15 to 20	54		(32		)	22		44		(31		)	13
Computer software	2 to 8	389		(239		)	150		298		(199		)	99
Land rights	2 to 50	147		(17		)	130		132		(12		)	120
Recipes and other	3 to 15	519		(178		)	341		467		(143		)	324

Total		$	2,202	$	(658	)	$	1,544	$	1,978	$	(521	)	$	1,457

The changes in the gross carrying amounts of other intangible assets during the year ended December 31, 2017 primarily related to capitalized software of $81 million, foreign currency translation adjustments of $79 million, and acquisitions (see Note 2).

Aggregate amortization expense was $122 million, $113 million, and $75 million for the years ended December 31, 2017, 2016, and 2015, respectively. The estimated future aggregate amortization expense for the next five years are $109 million, $107 million, $105 million, $100 million, and $95 million.

- 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