American Express 2013 Annual Report Download - page 84

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AMERICAN EXPRESS COMPANY
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
The components of other intangible assets were as follows:
2013 2012
(Millions)
Gross Carrying
Amount
Accumulated
Amortization
Net Carrying
Amount
Gross Carrying
Amount
Accumulated
Amortization
Net Carrying
Amount
Customer relationships(a) $ 1,297 $ (660) $ 637 $ 1,238 $ (526) $ 712
Other 269 (89) 180 428 (147) 281
Total $ 1,566 $ (749) $ 817 $ 1,666 $ (673) $ 993
(a) Includes net intangibles acquired from airline partners of $290 million and $358 million as of December 31, 2013 and 2012, respectively, including approximately $117
million and $156 million, respectively, from Delta.
Amortization expense for the years ended December 31, 2013, 2012 and 2011 was $193 million, $198 million and $189 million, respectively.
Intangible assets acquired in both 2013 and 2012 are being amortized, on average, over 6 years.
Estimated amortization expense for other intangible assets over the next five years is as follows:
(Millions) 2014 2015 2016 2017 2018
Estimated amortization expense $ 184 $ 164 $ 123 $ 72 $ 61
OTHER
The Company had $541 million and $427 million in affordable housing and other tax credit investment partnership interests as of December 31,
2013 and 2012, respectively, included in other assets in the table above. The Company is a non-controlling partner in these tax credit investment
partnerships, and therefore accounts for its ownership interests in accordance with GAAP governing equity method investments and joint
ventures.
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