Financial Information
Jump to a Section:
PART II
Item 8. Financial Statements and Supplementary Data.
MARRIOTT INTERNATIONAL, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
13. INTANGIBLE ASSETS AND GOODWILL
The following table details the composition of our intangible assets at year-end 2016 and 2015:
We capitalize both direct and incremental costs that we incur to acquire management, franchise, and license agreements. We amortize these costs on a straight-line basis over the initial term of the agreements, ranging from 15 to 30 years. Our amortization expense totaled $87 million in 2016, $65 million in 2015, and $64 million in 2014. We estimate that our aggregate amortization expense for each of the next five fiscal years will be as follows: $152 million for 2017; $152 million for 2018; $152 million for 2019; $152 million for 2020; and $152 million for 2021.
The following table details the carrying amount of our goodwill at year-end 2016 and 2015:
The table reflects our preliminary estimate of goodwill added as a result of our acquisition of Starwood in 2016. Because we have not yet finalized the fair values of assets acquired and liabilities assumed in the Starwood Combination, the assignment of goodwill to our reporting units may change during the measurement period. See Footnote 3 “Acquisitions and Dispositions” for more information.