Goodwill and Intangible Assets, Net

9 Months Ended

Sep. 30, 2015

Goodwill And Intangible Assets Disclosure [Abstract]

NOTE 7: GOODWILL AND INTANGIBLE ASSETS, NET

The following table summarizes our goodwill activity by segment for the period presented:

	Hotel			Other			Consolidated
	(in millions)
Beginning balance as of January 1, 2015	$	442		$	292		$	734
Acquisitions (1)		1			16			17
Disposition (1)		(1	)		-			(1	)
Other adjustments (2)		-			(15	)		(15	)
Ending balance as of September 30, 2015	$	442		$	293		$	735


(1)	Refer to “Note 3 – Acquisitions and Dispositions,” above for additional information.
(2)	Other adjustments are primarily related to impact of changes in foreign exchange rates.

Intangible assets, which were acquired in business combinations and recorded at fair value on the date of purchase, consist of the following for the periods presented:

	September 30, 2015			December 31, 2014
	(in millions)
Intangible assets with definite lives	$	199		$	202
Less: accumulated amortization		(43	)		(18	)
Intangible assets with definite lives, net		156			184
Intangible assets with indefinite lives		30			30
Total	$	186		$	214

The following table presents the components of our intangible assets with definite lives for the periods presented:

			September 30, 2015							December 31, 2014
	Weighted Average		Gross					Net		Gross					Net
	Remaining Life		Carrying		Accumulated			Carrying		Carrying		Accumulated			Carrying
	(in years)		Amount		Amortization			Amount		Amount		Amortization			Amount
			(in millions)							(in millions)
Trade names and trademarks		8.8	$	53	$	(8	)	$	45	$	52	$	(5	)	$	47
Customer lists and supplier relationships		5.5		82		(15	)		67		77		(5	)		72
Subscriber relationships		5.0		30		(8	)		22		31		(4	)		27
Technology and other		3.4		34		(12	)		22		42		(4	)		38
Total		6.1	$	199	$	(43	)	$	156	$	202	$	(18	)	$	184

Intangible assets with definite lives are amortized on a straight-line basis. The estimated amortization expense for intangible assets with definite lives for each of the next five years, and the expense thereafter, assuming no subsequent impairment of the underlying assets, is expected to be as follows (in millions):

2015 (remaining three months)	$	10
2016		29
2017		28
2018		25
2019		22
2020 and thereafter		42
Total	$	156

- 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.

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