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Intangible Assets
3 Months Ended
Mar. 31, 2014
Intangible Assets

8. Intangible Assets

The gross book value, accumulated amortization and net book value of intangible assets were as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(Stated in millions)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mar. 31, 2014

 

 

Dec. 31, 2013

 

 

 

Gross

 

Accumulated

 

Net Book

 

 

Gross

 

Accumulated

 

Net Book

 

 

 

Book Value

 

Amortization

 

Value

 

 

Book Value

 

Amortization

 

Value

 

Technology/Technical Know-How

 

$

1,961

 

$

626

 

$

1,335

 

 

$

1,960

 

$

597

 

$

1,363

 

Tradenames

 

 

1,647

 

 

274

 

 

1,373

 

 

 

1,647

 

 

257

 

 

1,390

 

Customer Relationships

 

 

2,342

 

 

434

 

 

1,908

 

 

 

2,263

 

 

407

 

 

1,856

 

Other

 

 

436

 

 

339

 

 

97

 

 

 

435

 

 

335

 

 

100

 

 

 

$

6,386

 

$

1,673

 

$

4,713

 

 

$

6,305

 

$

1,596

 

$

4,709

 

 

 

Amortization expense was $86 million during the first quarter of 2014 and $82 million during the same period of 2013.

The weighted average amortization period for all intangible assets is approximately 20 years.

Based on the net book value of intangible assets at March 31, 2014, amortization charged to income for the subsequent five years is estimated to be: remainder of 2014—$260 million; 2015—$336 million; 2016—$324 million; 2017—$320 million; 2018—$315 million; and 2019—$304 million.