Goodwill and Other Intangible Assets

6 Months Ended

Jun. 30, 2017

Goodwill and Intangible Assets Disclosure [Abstract]

The following table presents the changes in the carrying amount of goodwill for the six months ended June 30, 2017:



	General rentals		Trench, power and pump		Total
Balance at January 1, 2017 (1)	$	2,797	$	463	$	3,260
Goodwill related to acquisitions (2)	199		—		199
Foreign currency translation	7		2		9
Balance at June 30, 2017 (1)	3,003		465		3,468

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(1)	The total carrying amount of goodwill for all periods in the table above is reflected net of $1.557 billion of accumulated impairment charges, which were primarily recorded in our general rentals segment.


(2)	For additional detail on the April 2017 acquisition of NES, see note 2 to our condensed consolidated financial statements.

Other intangible assets were comprised of the following at June 30, 2017 and December 31, 2016:



	June 30, 2017
	Weighted-Average Remaining Amortization Period	Gross Carrying Amount			Accumulated Amortization			Net Amount
Non-compete agreements	29 months		$	67		$	59		$	8
Customer relationships	9 years		$	1,585		$	795		$	790



	December 31, 2016
	Weighted-Average Remaining Amortization Period	Gross Carrying Amount			Accumulated Amortization			Net Amount
Non-compete agreements	28 months		$	70		$	57		$	13
Customer relationships	10 years		$	1,465		$	737		$	728
Trade names and associated trademarks	4 months		$	80		$	79		$	1

Our other intangibles assets, net at June 30, 2017 include the following assets associated with the acquisition of NES discussed in note 2 to our condensed consolidated financial statements. No residual value has been assigned to these intangible assets. The non-compete agreements are being amortized on a straight-line basis, and the customer relationships are being amortized using the sum of the years' digits method, which we believe best reflects the estimated pattern in which the economic benefits will be consumed.

Amortization expense for other intangible assets was $42 and $43 for the three months ended June 30, 2017 and 2016, respectively, and $84 and $90 for the six months ended June 30, 2017 and 2016, respectively.

As of June 30, 2017, estimated amortization expense for other intangible assets for each of the next five years and thereafter is as follows:



2017		$	81
2018	150
2019	132
2020	113
2021	95
Thereafter	227
Total		$	798

- 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

June 30, 2017

Weighted-Average Remaining
Amortization Period

Net Carrying
Amount

Non-compete agreements

Customer relationships