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 Notes 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 >  9 GOODWILL AND INTANGIBLE ASSETS The following table details the composition of our goodwill and other intangible assets at year-end 2007 and year-end 2006.
We capitalize costs incurred to acquire management, franchise, and license agreements that are both direct and incremental. We amortize these costs on a straight-line basis over the initial term of the agreements, ranging from 15 to 30 years. We evaluate the carrying values of intangible assets for impairment under the provisions of FAS No. 142, "Goodwill and Other Intangible Assets." Amortization expense totaled $35 million in 2007, $33 million in 2006, and $28 million in 2005. Estimated aggregate amortization expense for each of the next five fiscal years is as follows: $29 million for 2008; $26 million for 2009; $26 million for 2010; $25 million for 2011; and $25 million for 2012. > Back to top of page |
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