Goodwill and Intangible Assets (Tables)

9 Months Ended

Sep. 30, 2015

Schedule of Goodwill by Reportable Segment

Goodwill by reportable segment was:


	As of September 30,		As of December 31,
	2015		2014
	(in millions)

Latin America	$	865	$	1,127
Asia Pacific		2,517		2,395
EEMEA		1,373		1,942
Europe		7,316		8,952
North America		8,892		8,973

Goodwill	$	20,963	$	23,389

Intangible Assets Disclosure

Intangible assets consisted of the following:


	As of September 30,			As of December 31,
	2015			2014
	(in millions)

Non-amortizable intangible assets	$	17,812		$	18,810
Amortizable intangible assets		2,351			2,525

		20,163			21,335
Accumulated amortization		(1,048	)		(1,000	)

Intangible assets, net	$	19,115		$	20,335

Changes in Goodwill and Intangible Assets

Changes in goodwill and intangible assets consisted of:


				Intangible
	Goodwill			Assets, at Cost
	(in millions)

Balance at January 1, 2015	$	23,389		$	21,335
Changes due to:
Currency		(1,196	)		(1,229	)
Deconsolidation and divestiture		(1,729	)		–
Acquisitions		500			58
Other		(1	)		(1	)

Balance at September 30, 2015	$	20,963		$	20,163

Changes to goodwill and intangibles were:

•

Deconsolidation and divestiture – On July 2, 2015, we deconsolidated $1,664 million of goodwill and less than $1 million of intangible assets in connection with the coffee business transactions. On April 23, 2015, we completed the divestiture of our 50 percent interest in AGF, which resulted in divesting $65 million of goodwill.

•

Acquisitions – On July 15, 2015, we acquired an 80% interest in a biscuit operation in Vietnam and recorded a preliminary allocation of $480 million of goodwill as we complete the final valuation work for the acquisition. On February 16, 2015, we acquired Enjoy Life Foods and recorded $20 million of goodwill and $58 million in identifiable intangible assets.