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Goodwill and Intangible Assets
12 Months Ended
Dec. 29, 2012
Goodwill and Intangible Assets  
Goodwill and Intangible Assets

Note 3. Goodwill and Intangible Assets

 

The changes in the carrying amount of goodwill by segment are as follows:

 

(In millions)

 

Cessna

 

Bell

 

Textron
Systems

 

Industrial

 

Total

 

Balance at January 2, 2010

 

$

322

 

$

30

 

$

958

 

$

312

 

$

1,622

 

Acquisitions

 

 

1

 

16

 

5

 

22

 

Foreign currency translation

 

 

 

 

(12

)

(12

)

Balance at January 1, 2011

 

322

 

31

 

974

 

305

 

1,632

 

Acquisitions

 

 

 

 

5

 

5

 

Foreign currency translation

 

 

 

 

(2

)

(2

)

Balance at December 31, 2011

 

322

 

31

 

974

 

308

 

1,635

 

Acquisitions

 

4

 

 

 

6

 

10

 

Foreign currency translation

 

 

 

 

4

 

4

 

Balance at December 29, 2012

 

$

326

 

$

31

 

$

974

 

$

318

 

$

1,649

 

 

Our intangible assets are summarized below:

 

 

 

 

 

 

December 29, 2012

 

 

December 31, 2011

 

(Dollars in millions)

 

Weighted-Average
Amortization
Period (in years)

 

 

Gross
Carrying
Amount

 

Accumulated
Amortization

 

Net

 

 

Gross
Carrying
Amount

 

Accumulated
Amortization

 

Net

 

Customer agreements and contractual relationships

 

15

 

 

$

330

 

  $

(139)

 

$

191

 

 

$

330

 

  $

(112)

 

$

218

 

Patents and technology

 

10

 

 

84

 

(55)

 

29

 

 

95

 

(59)

 

36

 

Trademarks

 

18

 

 

36

 

(22)

 

14

 

 

36

 

(19)

 

17

 

Other

 

9

 

 

20

 

(16)

 

4

 

 

22

 

(16)

 

6

 

Total

 

 

 

 

$

470

 

  $

(232)

 

$

238

 

 

$

483

 

  $

(206)

 

$

277

 

 

In the fourth quarter of 2011, we recorded a $41 million impairment charge to write down $37 million in customer agreements and contractual relationships and $4 million in patents and technology.  See Note 9 for more information on this charge.

 

Amortization expense totaled $40 million, $51 million and $52 million in 2012, 2011 and 2010, respectively.  Amortization expense is estimated to be approximately $36 million, $35 million, $34 million, $28 million and $24 million in 2013, 2014, 2015, 2016 and 2017, respectively.