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Goodwill and Intangible Assets, Net | 12 Months Ended
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Dec. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets, Net | Goodwill and Intangible Assets, Net. Goodwill consists of the following:
| December 31, 2016
| Automotive |  | Energy |  | Railcar |  | Gaming |  | Mining |  | Food Packaging |  | Consolidated
| (in millions)
Gross carrying amount, January 1 | $ | 1,457 |  |  | $ | 930 |  |  | $ | 7 |  |  | $ | — |  |  | $ | 6 |  |  | $ | 3 |  |  | $ | 2,403 |
Acquisitions | 205 |  |  | — |  |  | — |  |  | 3 |  |  | — |  |  | 1 |  |  | 209 |
Foreign exchange | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Gross carrying amount, December 31 | 1,662 |  |  | 930 |  |  | 7 |  |  | 3 |  |  | 6 |  |  | 4 |  |  | 2,612 |
Accumulated impairment, January 1 | (537 | ) |  | (356 | ) |  | — |  |  | — |  |  | (6 | ) |  | — |  |  | (899 | )
Impairment | — |  |  | (574 | ) |  | — |  |  | (3 | ) |  | — |  |  | — |  |  | (577 | )
Accumulated impairment, December 31 | (537 | ) |  | (930 | ) |  | — |  |  | (3 | ) |  | (6 | ) |  | — |  |  | (1,476 | )
Net carrying value, December 31 | $ | 1,125 |  |  | $ | — |  |  | $ | 7 |  |  | $ | — |  |  | $ | — |  |  | $ | 4 |  |  | $ | 1,136 |
| December 31, 2015
| Automotive |  | Energy |  | Railcar |  | Mining |  | Food Packaging |  | Consolidated
| (in millions)
Gross carrying amount, January 1 | $ | 1,389 |  |  | $ | 930 |  |  | $ | 7 |  |  | $ | — |  |  | $ | 3 |  |  | $ | 2,329 |
Acquisitions | 74 |  |  | — |  |  | — |  |  | 6 |  |  | — |  |  | 80 |
Foreign exchange | (6 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (6 | )
Gross carrying amount, December 31 | 1,457 |  |  | 930 |  |  | 7 |  |  | 6 |  |  | 3 |  |  | 2,403 |
Accumulated impairment, January 1 | (225 | ) |  | (103 | ) |  | — |  |  | — |  |  | — |  |  | (328 | )
Impairment | (312 | ) |  | (253 | ) |  | — |  |  | (6 | ) |  | — |  |  | (571 | )
Accumulated impairment, December 31 | (537 | ) |  | (356 | ) |  | — |  |  | (6 | ) |  | — |  |  | (899 | )
Net carrying value, December 31 | $ | 920 |  |  | $ | 574 |  |  | $ | 7 |  |  | $ | — |  |  | $ | 3 |  |  | $ | 1,504 |
Intangible assets, net consists of the following:
| December 31, 2016 |  | December 31, 2015
| Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Value |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Value
| (in millions)
Definite-lived intangible assets: |  |  |  |  |  |  |  |  |  |  |
Customer relationships | $ | 1,060 |  |  | $ | (472 | ) |  | $ | 588 |  |  | $ | 1,041 |  |  | $ | (408 | ) |  | $ | 633 |
Developed technology | 142 |  |  | (104 | ) |  | 38 |  |  | 144 |  |  | (90 | ) |  | 54 |
In-place leases | 121 |  |  | (83 | ) |  | 38 |  |  | 121 |  |  | (73 | ) |  | 48 |
Gasification technology license | 60 |  |  | (11 | ) |  | 49 |  |  | 60 |  |  | (9 | ) |  | 51 |
Other | 46 |  |  | (21 | ) |  | 25 |  |  | 44 |  |  | (20 | ) |  | 24 |
| $ | 1,429 |  |  | $ | (691 | ) |  | $ | 738 |  |  | $ | 1,410 |  |  | $ | (600 | ) |  | $ | 810 |
Indefinite-lived intangible assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Trademarks and brand names |  |  |  |  | $ | 304 |  |  |  |  |  |  | $ | 260 |
Gaming licenses |  |  |  |  | 38 |  |  |  |  |  |  | 38 |
|  |  |  |  | 342 |  |  |  |  |  |  | 298 |
Intangible assets, net |  |  |  |  | $ | 1,080 |  |  |  |  |  |  | $ | 1,108 |
We recorded amortization expense associated with definite-lived intangible assets for the years ended December 31, 2016, 2015 and 2014 of $91 million, $92 million and $83 million, respectively. We utilize the straight-line method of amortization, recognized over the estimated useful lives of the assets. The estimated future amortization expense for our definite-lived intangible assets is as follows:
Year |  | Amount
|  | (in millions)
2017 |  | $ | 91 |
2018 |  | 82 |
2019 |  | 81 |
2020 |  | 80 |
2021 |  | 71 |
Thereafter |  | 333 |
|  | $ | 738 |
Acquisitions of Businesses In addition to below, acquisitions of businesses are further discussed in Note 1, "Description of Business and Basis of Presentation - Acquisitions of Businesses." Automotive During the first quarter of 2016, we acquired Pep Boys and allocated $48 million to trademarks and brand names, $19 million to customer relationships, $3 million to other definite-lived intangible assets and $199 million to goodwill as of the acquisition date. None of the goodwill is expected to be deductible for income tax purposes. We continue to finalize the valuation of the Pep Boys acquisition and have recorded provisional amounts based on preliminary estimates of fair value of net assets acquired, including goodwill. The provisional measurements of net assets are subject to change as we finalize the purchase price allocation. Gaming During the first quarter of 2016, we acquired TER and allocated $13 million to trademarks and brand names, $1 million to customer relationships and $3 million to goodwill as of the acquisition date. Additionally, as discussed in Note 1, "Description of Business and Basis of Presentation," the Trump Taj Mahal closed and ceased its casino and hotel operations on October 10, 2016. As a result of this triggering event, for the year ended December 31, 2016, we recorded an intangible asset impairment charge of $13 million, which represented the full amount of the trademark and brand names intangible assets allocated to TER and a goodwill impairment charge of $3 million, which represented the full amount of goodwill allocated to TER. Impairment of Goodwill We base the fair value of our reporting units on consideration of various valuation methodologies, including projecting future cash flows discounted at rates commensurate with the risks involved ("DCF"). Assumptions used in a DCF require the exercise of significant judgment, including judgment about appropriate discount rates and terminal values, growth rates, and the amount and timing of expected future cash flows. The forecasted cash flows are based on current plans and for years beyond that plan, the estimates are based on assumed growth rates. We believe that our assumptions are consistent with the plans and estimates used to manage the underlying businesses. The discount rates, which are intended to reflect the risks inherent in future cash flow projections, used in a DCF are based on estimates of the weighted-average cost of capital of a market participant. Such estimates are derived from our analysis of peer companies and consider the industry weighted average return on debt and equity from a market participant perspective. Automotive We perform the annual goodwill impairment test for our Automotive segment as of October 1 of each year, or more frequently if impairment indicators exist. The first step of the impairment analysis involves comparing the fair values of our Automotive segment's reporting units' assets to their respective carrying values to determine the potential for goodwill impairment. The second step of the impairment test, if necessary, involves quantifying the level of goodwill impairment. As a result of our annual goodwill impairment analysis for our Automotive segment in 2015, our Automotive segment's motorparts reporting unit failed "Step 1" of the goodwill impairment analysis. Based on "Step 2" of the goodwill impairment analysis of our Automotive segment's motorparts reporting unit, we recorded a goodwill impairment charge of $312 million for the year ended December 31, 2015. Additionally, as a result of our recoverability analysis, there were no indications of impairment related to long-lived assets for our Automotive segment’s motorparts reporting unit for the year ended December 31, 2015. Based on "Step 1" of our annual goodwill impairment tests of our Automotive segment's reporting units as of October 1, 2016, the fair values of all of our reporting units within our Automotive segment were substantially in excess of their carrying values, except for our motorparts reporting unit whose fair value exceeded its carrying value by approximately 7%. Our motorparts reporting unit had $349 million of goodwill allocated to it as of December 31, 2016. Energy We perform the annual goodwill impairment test for our Energy segment as of April 30 of each year, or more frequently if impairment indicators exist. The first step of the impairment analysis involves comparing the fair values of our Energy segment's reporting units' assets to their respective carrying values to determine the potential for goodwill impairment. The second step of the impairment test, if necessary, involves quantifying the level of goodwill impairment. During the fourth quarter of 2014, based on certain negative trends occurring in the energy markets, particularly with respect to the significant volatility in the oil markets as a result of a drop in forecasted worldwide demand for crude oil supply and inventories, we determined that goodwill impairment indicators existed in both of our Energy segment's petroleum and fertilizer reporting units. Accordingly, we performed a "Step 1" goodwill impairment analysis for our Energy segment's reporting units as of December 1, 2014. Our Energy segment’s petroleum reporting unit passed “Step 1” of the goodwill impairment analysis, and therefore, we did not perform “Step 2” of the goodwill impairment analysis for this reporting unit. However, our Energy segment's fertilizer reporting unit failed "Step 1" of the goodwill impairment analysis and as a result we performed "Step 2" of the goodwill impairment analysis. Based on "Step 2" results of the goodwill impairment analysis, we recognized a preliminary impairment charge of $103 million for our Energy segment's fertilizer reporting unit for the year ended December 31, 2014. During the fourth quarter of 2015, due to worsening sales trends for our Energy segment's fertilizer reporting unit, we performed an interim goodwill impairment analysis. Based on this analysis, our Energy segment recognized a goodwill impairment charge of $253 million, which represented the full amount of the remaining goodwill allocated to the fertilizer reporting unit. During the first quarter of 2016, due to worsening sales trends for our Energy segment's petroleum reporting unit, we performed an interim goodwill impairment analysis. Based on this analysis, our Energy segment recognized a goodwill impairment charge of $574 million, which represented the full amount of the remaining goodwill allocated to the petroleum reporting unit. Gaming As discussed above, in connection with the closing of the Trump Taj Mahal, we recorded a goodwill impairment charge of $3 million in 2016, which represented the full amount of goodwill allocated to TER. Mining During the fourth quarter of 2015, due to worsening demand and price trends for iron ore affecting our Mining segment, we performed an interim goodwill impairment analysis. Based on this analysis, our Mining segment recognized a goodwill impairment charge of $6 million, which represented the full amount of the goodwill allocated to the segment.

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- Definition The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16373-109275 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16265-109275 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=35741047&loc=d3e13816-109267 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=35741047&loc=d3e13854-109267 + Details
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