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Other Assets-K
12 Months Ended
Dec. 31, 2015
Other Assets  
Other Assets

6.  Prepaid Expenses and Other Assets

Prepaid expenses and other current assets consist of the following at December 31, 2015 and 2014:

 

 

 

 

 

 

 

 

 

    

2015

    

2014

 

Prepaid expenses

 

$

52

 

$

40

 

Value added taxes

 

 

195

 

 

71

 

Other

 

 

119

 

 

163

 

 

 

$

366

 

$

274

 

In conjunction with the Vitro Acquisition, part of the total consideration paid by the Company relates to a value added tax receivable of approximately $143 million. This amount is included in “Value added taxes” above and is expected to be refunded to the Company in approximately twelve months.

Other assets (noncurrent) consist of the following at December 31, 2015 and 2014:

 

 

 

 

 

 

 

 

 

    

2015

    

2014

 

Deferred tax assets

 

$

177

 

$

203

 

Deferred returnable packaging costs

 

 

110

 

 

126

 

Repair part inventories

 

 

118

 

 

107

 

Capitalized software

 

 

86

 

 

101

 

Value added taxes

 

 

17

 

 

58

 

Deferred finance fees

 

 

6

 

 

7

 

Other

 

 

85

 

 

83

 

 

 

$

599

 

$

685

 

 

Capitalized software includes costs related to the acquisition and development of internal-use software. These costs are amortized over the estimated useful life of the software. Amortization expense for capitalized software was $19 million, $17 million and $14 million for 2015, 2014 and 2013, respectively. Estimated amortization related to capitalized software through 2020 is as follows: 2016, $17 million; 2017, $16 million; 2018, $15 million; 2019, $13 million; and 2020, $11 million.