HONEYWELL INTERNATIONAL INC | 2013 | FY | 3


Note 12. Goodwill and Other Intangible Assets - Net

 

       The change in the carrying amount of goodwill for the years ended December 31, 2013 and 2012 by segment is as follows:

 

      Currency  
  December 31,    Translation December 31,
  2012 Acquisitions Adjustment  2013
         
Aerospace$ 2,075$ -$ 1$ 2,076
Automation and Control         
Solutions  8,343  606  -  8,949
Performance Materials        
and Technologies  1,810  12  2  1,824
Transportation Systems  197  -  -  197
 $ 12,425$ 618$ 3$ 13,046

We completed our annual impairment testing of goodwill and indefinite-lived intangibles as of March 31, 2013 and determined that there was no impairment as of that date. No matters have arisen subsequent to that date which have resulted in a change to this assessment.

 

              
  December 31, 2013  December 31, 2012
  Gross   Net  Gross   Net
  Carrying Accumulated Carrying Carrying Accumulated Carrying
   Amount  Amortization  Amount   Amount  Amortization  Amount 
Determinable life intangibles:             
Patents and technology$ 1,438$ (935)$ 503 $ 1,224$ (841)$ 383
Customer relationships  1,904  (749)  1,155   1,736  (625)  1,111
Trademarks  194  (118)  76   179  (103)  76
Other  294  (234)  60   311  (157)  154
   3,830  (2,036)  1,794   3,450  (1,726)  1,724
              
Indefinite life intangibles:             
Trademarks  720  -  720   725  -  725
 $ 4,550$ (2,036)$ 2,514 $ 4,175$ (1,726)$ 2,449

Intangible assets amortization expense was $319 million, $266 million, and $249 million in 2013, 2012, 2011, respectively. Estimated intangible asset amortization expense for each of the next five years approximates $261 million in 2014, $217 million in 2015, $193 million in 2016, $183 million in 2017, and $168 million in 2018.

 


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