Goodwill and Other Intangible Assets, Net

For reporting units with goodwill, we perform goodwill impairment tests on an annual basis on August 1st, or more frequently, if circumstances change or an event occurs that would more likely than not reduce the fair value of a reporting unit below its carrying amount. As part of our impairment analysis for these reporting units, we performed a qualitative assessment or we determined the fair value of the reporting unit based on estimates of its future cash flows.

Changes in the carrying amount of goodwill for each operating segment are as follows:



(in millions)	North America Truck			North America Parts		Global Operations			Total
As of October 31, 2011	$	82		$	38	$	199		$	319
Currency translation	—			—		(33		)	(33		)
Adjustments^(A)	—			—		(6		)	(6		)
As of October 31, 2012	$	82		$	38	$	160		$	280
Impairments	(81		)	—		—			(81		)
Currency translation	—			—		(12		)	(12		)
Adjustments^(A)	(1		)	—		(2		)	(3		)
As of October 31, 2013	$	—		$	38	$	146		$	184
Impairments	—			—		(142		)	(142		)
Currency translation	—			—		(4		)	(4		)
As of October 31, 2014	$	—		$	38	$	—		$	38

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(A)	Adjustments to goodwill primarily result from the tax benefit attributable to the amortization of tax deductible goodwill in excess of goodwill recorded for financial statement purposes as measured in the IIAA balance sheet immediately after its acquisition in 2005.

During 2014, the economic downturn in Brazil resulted in the continued decline in actual and forecasted results for the Brazilian engine reporting unit with goodwill of $142 million and an indefinite-lived intangible asset, trademark, of $43 million. As a result, we performed an impairment analysis utilizing the income approach, based on discounted cash flows, which are derived from internal forecasts and economic expectations. It was determined that the carrying value of the Brazilian engine reporting unit, including goodwill, exceeded its fair value. As a result we compared the implied fair value of the reporting unit's goodwill with the carrying amount of that goodwill. A decrease in the enterprise value of the reporting unit coupled with appreciation in the value of certain tangible assets, which are not recognized for accounting purposes, resulted in the determination that the entire $142 million of goodwill was impaired. In addition, we determined that the related trademark was impaired and recognized an impairment charge of $7 million. The non-cash impairment charges were included in Asset impairment charges in the Company's Consolidated Statements of Operations. The Brazilian engine reporting unit is included in the Global Operations segment.

In the fourth quarter of 2013, our North America Truck segment recorded a non-cash charge of $77 million to reflect impairment of goodwill. As a result of certain changes in our organizational and reporting structures, we reviewed the recoverability of our goodwill in the North America truck reporting unit. The income approach, which was based on discounted cash flows was used in the impairment analysis for the reporting unit. The impairment charges were included in Asset impairment charges. In the second quarter of 2013, our North America Truck segment recorded a non-cash charge of $4 million to reflect impairment of goodwill related to the divestiture of Monaco. The impairment charges were included in the Income (loss) from discontinued operations, net of tax.

Information regarding our intangible assets that are not subject to amortization as of October 31 is as follows:



(in millions)	2014		2013
Dealer franchise rights	$	1	$	1
Trademarks	33		45
Intangible assets not subject to amortization	$	34	$	46

Information regarding our intangible assets that are subject to amortization at October 31, is as follows:



	As of October 31, 2014
(in millions)	Customer Base and Relationships			Trademarks, Patents and Other			Total
Gross carrying value	$	80		$	85		$	165
Accumulated amortization	(60		)	(49		)	(109		)
Net of amortization	$	20		$	36		$	56



	As of October 31, 2013
(in millions)	Customer Base and Relationships			Trademarks, Patents and Other			Total
Gross carrying value	$	88		$	101		$	189
Accumulated amortization	(55		)	(42		)	(97		)
Net of amortization	$	33		$	59		$	92

We recorded amortization expense for our finite-lived intangible assets of $18 million, $22 million, and $25 million for the years ended October 31, 2014, 2013, and 2012, respectively. Future estimated amortization expense for our finite-lived intangible assets for the remaining years is as follows:



(in millions)	Estimated Amortization
2015	$	15
2016	12
2017	11
2018	7
2019	3
Thereafter	8