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Goodwill and Intangible Assets (Tables)
 12 Months Ended
Dec. 31, 2015
Schedule of Goodwill by Reportable Segment

Goodwill by reportable segment was:

 

                                     
     As of December 31,  
     2015      2014  
     (in millions)  

Latin America

    $ 858       $ 1,127   

Asia Pacific

      2,520         2,395   

EEMEA

      1,304         1,942   

Europe

      7,117         8,952   

North America

      8,865         8,973   
  

 

 

     

 

 

  

Goodwill

    $ 20,664       $ 23,389   
  

 

 

     

 

 

  
Intangible Assets Disclosure

Intangible assets consisted of the following:

 

                                     
     As of December 31,  
     2015      2014  
     (in millions)  

Non-amortizable intangible assets

    $ 17,527       $ 18,810   

Amortizable intangible assets

      2,320         2,525   
  

 

 

     

 

 

  
     19,847         21,335   

Accumulated amortization

      (1,079 )       (1,000 ) 
  

 

 

     

 

 

  

Intangible assets, net

    $ 18,768       $ 20,335   
  

 

 

     

 

 

  
Changes in Goodwill and Intangible Assets

Changes in goodwill and intangible assets consisted of:

 

                                                                           
     2015      2014  
     Goodwill      Intangible
Assets, at cost		      Goodwill      Intangible
Assets, at cost		  
     (in millions)  

Balance at January 1

    $ 23,389       $ 21,335       $ 25,597       $ 22,919   

Changes due to:

            

Currency

      (1,477 )       (1,462 )       (2,256 )       (1,528 ) 

Coffee business transactions
and divestiture

      (1,729 )       –         –         –   

Acquisitions

      481         58         –         –   

Asset impairments

      –         (83 )       –         (57 ) 

Other

      –         (1 )       48         1   
  

 

 

     

 

 

     

 

 

     

 

 

  

Balance at December 31

    $ 20,664       $ 19,847       $ 23,389       $ 21,335   
  

 

 

     

 

 

     

 

 

     

 

 

  

Changes to goodwill and intangibles were:

  •   Coffee business transactions 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% equity 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 $461 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.
  •   Asset Impairments – On December 31, 2015, in connection with the deconsolidation of Venezuela, we recorded $12 million of impairment charges as described below. We recorded $71 million of charges related to four trademarks in 2015 and $57 million of charges related to two trademarks in 2014 as described below.