The change in the carrying amount of goodwill during 2010 was as follows:
(Stated in millions)
Balance, January 1, 2010
$ 5,305
Acquisition of Smith
7,892
Other additions
761
Impact of change in exchange rates
(6)
Balance, December 31, 2010
$13,952
9. Intangible Assets
Intangible assets principally comprise technology/technical know-how, tradenames and customer relationships. At
December 31, the gross book value and accumulated amortization of intangible assets were as follows:
(Stated in millions)
2011
2010
Gross
Book Value
Accumulated
Amortization
Net Book
Value
Gross
Book Value
Accumulated
Amortization
Net Book
Value
Technology/Technical Know-How
$1,875
$341
$1,534
$1,846
$215
$1,631
Tradenames
1,677
131
1,546
1,678
61
1,617
Customer Relationships
1,954
209
1,745
1,963
129
1,834
Other
356
299
57
378
298
80
$5,862
$980
$4,882
$5,865
$703
$5,162
Amortization expense was $325 million in 2011, $190 million in 2010 and $114 million in 2009.
The weighted average amortization period for all intangible assets is approximately 21 years.
Amortization expense for the subsequent five years is estimated to be as follows: 2012—$323 million, 2013—
$304 million, 2014—$298 million, 2015—$287 million and 2016—$268 million.
10. Long-term Debt and Debt Facility Agreements
Long-term Debt
consists of the following:
(Stated in millions)
As at December 31,
2011 2010
3.300% Senior Notes due 2021
$1,595
$–
4.50% Guaranteed Notes due 2014
1,297
1,319
2.75% Guaranteed Notes due 2015
1,290
1,310
1.950% Senior Notes due 2016
1,099
–
4.200% Senior Notes due 2021
1,099
–
5.25% Guaranteed Notes due 2013
649
659
2.650% Senior Notes due 2016
498
–
3.00% Guaranteed Notes due 2013
450
450
Floating Rate Senior Notes due 2014
300
–
9.75% Senior Notes due 2019
–
776
8.625% Senior Notes due 2014
–
272
6.00% Senior Notes due 2016
–
218
Commercial paper borrowings
–
367
Other variable rate debt
271
133
8,548
5,504
Fair value adjustment – hedging
(1)
8
13
$8,556
$5,517
(1)
Represents changes in the fair value of the portion of Schlumberger’s fixed rate debt that is hedged through the use of interest rate swaps.
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