Franchises, Goodwill and Other Intangible Assets (Notes)

6 Months Ended

Jun. 30, 2017

Franchises, Goodwill and Other Intangible Assets [Abstract]

Franchises, Goodwill and Other Intangible Assets

Indefinite-lived and finite-lived intangible assets consist of the following as of June 30, 2017 and December 31, 2016:



	June 30, 2017							December 31, 2016
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Indefinite-lived intangible assets:
Franchises	$	67,316	$	—		$	67,316	$	67,316	$	—		$	67,316
Goodwill	29,554		—			29,554		29,509		—			29,509
Trademarks	159		—			159		159		—			159
Other intangible assets	—		—			—		4		—			4
	$	97,029	$	—		$	97,029	$	96,988	$	—		$	96,988

Finite-lived intangible assets:
Customer relationships	$	18,227	$	(4,996	)	$	13,231	$	18,226	$	(3,618	)	$	14,608
Other intangible assets	664		(162		)	502		615		(128		)	487
	$	18,891	$	(5,158	)	$	13,733	$	18,841	$	(3,746	)	$	15,095

Amortization expense related to customer relationships and other intangible assets for the three and six months ended June 30, 2017 was $695 million and $1.4 billion, respectively, and was $403 million and $464 million for the three and six months ended June 30, 2016, respectively.

The Company expects amortization expense on its finite-lived intangible assets will be as follows:



Six months ended December 31, 2017	$	1,327
2018	2,468
2019	2,185
2020	1,894
2021	1,609
Thereafter	4,250
	$	13,733

Actual amortization expense in future periods will differ from these estimates as a result of new intangible asset acquisitions or divestitures, changes in useful lives, impairments and other relevant factors.

- 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