Goodwill and Other Intangible Assets, net
Goodwill and other intangible assets, net, by segment were as follows: |
| | | | | | | | | | | | | | | |
| Goodwill | | Other Intangible Assets, net |
(in millions) | December 31, 2013 |
| | December 31, 2012 |
| | December 31, 2013 |
| | December 31, 2012 |
|
Smokeable products | $ | 77 |
| | $ | 77 |
| | $ | 2,954 |
| | $ | 2,971 |
|
Smokeless products | 5,023 |
| | 5,023 |
| | 8,836 |
| | 8,839 |
|
Wine | 74 |
| | 74 |
| | 268 |
| | 268 |
|
Total | $ | 5,174 |
| | $ | 5,174 |
| | $ | 12,058 |
| | $ | 12,078 |
|
Goodwill relates to Altria Group, Inc.’s 2009 acquisition of UST and 2007 acquisition of Middleton.
Other intangible assets consisted of the following:
|
| | | | | | | | | | | | | | | |
| December 31, 2013 | | December 31, 2012 |
(in millions) | Gross Carrying Amount |
| | Accumulated Amortization |
| | Gross Carrying Amount |
| | Accumulated Amortization |
|
Indefinite-lived intangible assets | $ | 11,701 |
| | $ | — |
| | $ | 11,701 |
| | $ | — |
|
Definite-lived intangible assets | 464 |
| | 107 |
| | 464 |
| | 87 |
|
Total other intangible assets | $ | 12,165 |
| | $ | 107 |
| | $ | 12,165 |
| | $ | 87 |
|
Indefinite-lived intangible assets consist substantially of trademarks from Altria Group, Inc.’s 2009 acquisition of UST ($9.1 billion) and 2007 acquisition of Middleton ($2.6 billion). Definite-lived intangible assets, which consist primarily of customer relationships and certain cigarette trademarks, are amortized over periods up to 25 years. Pre-tax amortization expense for definite-lived intangible assets during each of the
years ended December 31, 2013, 2012 and 2011, was $20 million. Annual amortization expense for each of the next five years is estimated to be approximately $20 million, assuming no additional transactions occur that require the amortization of intangible assets.
There have been no changes in goodwill and the gross carrying amount of other intangible assets since the acquisitions of UST and Middleton.
