Intangible Assets

12 Months Ended

Dec. 31, 2017

Goodwill and Intangible Assets Disclosure [Abstract]


6.	Intangible Assets

Intangible assets consisted of:



	As of December 31, 2017						As of December 31, 2016
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Amortized Intangible Assets
License agreements ^(a)	$	281	$	140	$	141	$	261	$	109	$	152
Customer relationships ^(b)	242		119		123		224		90		134
Other ^(c)	51		18		33		46		12		34
	$	574	$	277	$	297	$	531	$	211	$	320

Unamortized Intangible Assets
Goodwill	$	1,073					$	1,007
Trademarks	$	553					$	550

_________


^(a)	Primarily amortized over a period ranging from 0 to 40 years with a weighted average life of 18 years.


^(b)	Primarily amortized over a period ranging from 3 to 20 years with a weighted average life of 12 years.


^(c)	Primarily amortized over a period ranging from 4 to 10 years with a weighted average life of 9 years.

During 2017, the Company recorded an impairment related to the unamortized Zipcar trademark of $2 million based on a combination of observable and unobservable fair value inputs (Level 3), specifically the Income approach-relief from royalty method, which considers market inputs.

Amortization expense relating to all intangible assets was as follows:



	Year Ended December 31,
	2017		2016		2015
License agreements	$	33	$	35	$	31
Customer relationships	24		23		21
Other	5		7		7
Total	$	62	$	65	$	59

Based on the Company’s amortizable intangible assets at December 31, 2017, the Company expects related amortization expense of approximately $47 million for 2018, $42 million for 2019, $40 million for 2020, $30 million for 2021 and $24 million for 2022, excluding effects of currency exchange rates.

The carrying amounts of goodwill and related changes are as follows:



		Americas			International			Total Company

Gross goodwill as of January 1, 2016		$	2,124		$	967		$	3,091
	Accumulated impairment losses as of January 1, 2016	(1,587		)	(531		)	(2,118		)
Goodwill as of January 1, 2016		537			436			973
	Acquisitions	2			23			25
	Currency translation adjustments and other	13			(4		)	9
Goodwill as of December 31, 2016		552			455			1,007
	Acquisitions	—			5			5
	Currency translation adjustments and other	—			61			61
Goodwill as of December 31, 2017		$	552		$	521		$	1,073

- 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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