|
8. Other Intangible Assets
Other intangible assets consist of the following:
|
|
|
|
|
|
|
|
|
|
December 31, |
|
|
(US$ in millions) |
|
2011 |
|
2010 |
|
|
Trademarks/brands, finite-lived |
|
$ |
162 |
|
$ |
127 |
|
|
Licenses |
|
|
13 |
|
|
11 |
|
|
Other |
|
|
154 |
|
|
115 |
|
| |
|
|
|
|
|
|
|
|
|
329 |
|
|
253 |
|
|
Less accumulated amortization: |
|
|
|
|
|
|
|
|
Trademarks/brands (1) |
|
|
(53 |
) |
|
(54 |
) |
|
Licenses |
|
|
(4 |
) |
|
(3 |
) |
|
Other |
|
|
(58 |
) |
|
(39 |
) |
| |
|
|
|
|
|
|
|
|
|
(115 |
) |
|
(96 |
) |
|
Trademarks/brands, indefinite-lived |
|
|
6 |
|
|
29 |
|
| |
|
|
|
|
|
|
Intangible assets, net of accumulated amortization |
|
$ |
220 |
|
$ |
186 |
|
| |
|
|
|
|
|
- (1)
- Bunge's Brazilian subsidiary's tax deductible goodwill in the agribusiness segment is in excess of its book goodwill. For financial reporting purposes, for other intangible assets acquired prior to 2009, before recognizing any income tax benefit of tax deductible goodwill in excess of its book goodwill in the consolidated statements of income and after the related book goodwill has been reduced to zero, any such remaining tax deductible goodwill in excess of its book goodwill is used to reduce other intangible assets to zero.
In 2011, Bunge acquired assets including $23 million of trademarks and $48 million of other intangible assets including customer lists of $16 million and port usage rights of $32 million. These amounts were allocated $32 million to the agribusiness segment and $39 million to the edible oil products segment. Finite lives of these assets range from 5 to 20 years.
In 2010, Bunge assigned a total of $52 million to other intangible assets acquired in business acquisitions. These assets primarily relate to agricultural partnership agreements for the production of sugarcane acquired as part of the Moema acquisition (see Note 2). These amounts were allocated $44 million, $7 million and $1 million to the sugar and bioenergy, fertilizer and edible oil products segments, respectively. Finite lives of these assets range from 2 to 20 years.
Bunge performed its annual impairment test in the fourth quarters of 2011, 2010 and 2009. There were no impairments of indefinite-lived intangible assets for the years ended December 31, 2011, 2010 and 2009.
The aggregate amortization expense was $29 million, $23 million and $16 million for the years ended December 31, 2011, 2010 and 2009, respectively. The annual estimated aggregate amortization expense for 2012 is approximately $32 million with approximately $29 million estimated per year for 2013 through 2016. |