XML 40 R17.htm IDEA: XBRL DOCUMENT
v3.10.0.1

Goodwill | 12 Months Ended
--- | ---
Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill | Goodwill Goodwill represents the future economic benefits arising from assets acquired in a business combination that are not individually identified and separately recognized. In accordance with FASB guidance, we test goodwill to determine whether an impairment has occurred at least annually (as of June 30) and on an interim basis if it is more likely than not that a reporting unit’s fair value is less than its carrying value. Goodwill is tested for impairment at a level of reporting referred to as a reporting unit. A reporting unit is an operating segment or one level below an operating segment for which discrete financial information is available and regularly reviewed by segment management. Our reporting units are our operating segments. FASB guidance provides for a quantitative approach to testing goodwill for impairment; however, we may first assess certain qualitative factors to determine whether it is necessary to perform the quantitative goodwill impairment test. In the quantitative test, we compare the fair value of the reporting unit with the respective book values, including goodwill, by using an income approach based on a discounted cash flow analysis. This approach requires us to make long-term forecasts of future revenues, expenses and other expenditures. Those forecasts require the use of various assumptions and estimates, the most significant of which are net revenues (total revenues less purchases and related costs), operating expenses, general and administrative expenses and the weighted average cost of capital. Fair value of the reporting units is determined using significant unobservable inputs, or Level 3 inputs in the fair value hierarchy. When the fair value is greater than book value, then the reporting unit’s goodwill is not considered impaired. If the book value is greater than fair value, then goodwill is impaired by the amount by which a reporting unit’s carrying value exceeds its fair value, not to exceed the carrying value of goodwill. We completed our goodwill impairment test as of June 30, 2018 using a quantitative assessment, which also includes a sensitivity analysis regarding the excess of our reporting unit’s fair value over book value. We determined that the fair value of each reporting unit was greater than its respective book value; therefore, goodwill was not considered impaired. We did not recognize any impairments of goodwill during the last three years. Goodwill by segment and changes in goodwill is reflected in the following table (in millions):
| Transportation |  | Facilities |  | Supply and Logistics |  | Total
Balance at December 31, 2016 | $ | 806 |  |  | $ | 1,034 |  |  | $ | 504 |  |  | $ | 2,344 |
Acquisitions | 269 |  |  | — |  |  | — |  |  | 269 |
Foreign currency translation adjustments | 16 |  |  | 7 |  |  | 4 |  |  | 27 |
Divestitures and reclassifications to assets held for sale | (21 | ) |  | (53 | ) |  | — |  |  | (74 | )
Balance at December 31, 2017 | $ | 1,070 |  |  | $ | 988 |  |  | $ | 508 |  |  | $ | 2,566 |
Foreign currency translation adjustments | (19 | ) |  | (8 | ) |  | (5 | ) |  | (32 | )
Divestitures | (11 | ) |  | (2 | ) |  | — |  |  | (13 | )
Balance at December 31, 2018 | $ | 1,040 |  |  | $ | 978 |  |  | $ | 503 |  |  | $ | 2,521 |

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for goodwill. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=2144439 + Details
Name: | us-gaap_GoodwillDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration