Goodwill and Other Identifiable Intangible Assets

3 Months Ended

Mar. 31, 2013

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Identifiable Intangible Assets

The change in the carrying amount of goodwill attributable to each reportable segment for the three months ended March 31, 2013 was as follows:



	Performance Coatings			Industrial Coatings			Architectural Coatings – EMEA			Optical and Specialty Materials		Commodity Chemicals			Glass			Total
	(Millions)
Balance, Dec. 31, 2012	$	1,173		$	512		$	970		$	48	$	6		$	52		$	2,761
Acquisitions	—			1			—			—		—			—			1
Separation of commodity chemicals (Note 5)	—			—			—			—		(6		)	—			(6		)
Currency	(16		)	(11		)	(33		)	—		—			(2		)	(62		)
Balance, March 31, 2013	$	1,157		$	502		$	937		$	48	$	—		$	50		$	2,694

The carrying amount of acquired trademarks with indefinite lives as of March 31, 2013 and December 31, 2012 totaled $316 million and $324 million respectively.

The Company’s identifiable intangible assets with finite lives are being amortized over their estimated useful lives and are detailed below:



	March 31, 2013							December 31, 2012
	Gross Carrying Amount		Accumulated Amortization			Net		Gross Carrying Amount		Accumulated Amortization			Net
	(Millions)
Acquired technology	$	508	$	(342	)	$	166	$	516	$	(342	)	$	174
Customer-related intangibles	962		(476		)	486		1,010		(491		)	519
Tradenames	114		(54		)	60		120		(57		)	63
Other	30		(25		)	5		34		(29		)	5
Balance	$	1,614	$	(897	)	$	717	$	1,680	$	(919	)	$	761

Aggregate amortization expense related to these identifiable intangible assets for the three months ended March 31, 2013 and 2012 was $26 million and $29 million, respectively. As of March 31, 2013, estimated future amortization expense of identifiable intangible assets is as follows: $75 million for the remaining nine months of 2013 and approximately $100 million, $100 million, $80 million, $70 million and $70 million in 2014, 2015, 2016, 2017 and 2018, respectively.

- 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