American Express 2015 Annual Report Download - page 134

NOTE 7
OTHER ASSETS
The following is a summary of Other assets as of December 31:
(Millions) 2015 2014
Goodwill ............................................................................. $ 2,749 $ 3,024
Deferred tax assets, net (a) .............................................................. 2,231 2,110
Prepaid expenses (b) ................................................................... 851 1,626
Other intangible assets, at amortized cost ................................................ 796 854
Community Reinvestment Act Tax Credit investments ..................................... 638 622
Restricted cash (c) ..................................................................... 477 384
Derivative assets (a) .................................................................... 282 711
Other ................................................................................ 2,045 2,011
Total ................................................................................ $10,069 $11,342
(a) Refer to Notes 14 and 21 for a discussion of derivative assets and deferred tax assets, net, respectively, as of December 31, 2015 and 2014. For
2015 and 2014, $80 million and $96 million, respectively, of foreign deferred tax liabilities is reflected in Other Liabilities. Derivative assets
reflect the impact of master netting agreements.
(b) Includes prepaid miles and reward points acquired primarily from airline partners of approximately $0.3 billion and $1.1 billion as of
December 31, 2015 and 2014, respectively, including approximately nil and $0.6 billion, respectively, from Delta.
(c) Includes restricted cash of approximately $155 million and $64 million as of December 31, 2015 and 2014, respectively, which is primarily held
for coupon and certain asset-backed securitization maturities.
GOODWILL
The changes in the carrying amount of goodwill reported in the Company’s reportable operating segments and
Corporate & Other were as follows:
(Millions) USCS ICS GCS GNMS Corporate & Other Total
Balance as of January 1, 2014 .................................... $174 $1,052 $ 1,543 $ 160 $ 269 $ 3,198
Acquisitions ................................................... — — — — — —
Dispositions ................................................... — — (102) — — (102)
Other, including foreign currency translation ....................... — (70) — — (2) (72)
Balance as of December 31, 2014 ................................ $174 $ 982 $1,441 $ 160 $ 267 $3,024
Acquisitions ................................................... ———— — —
Dispositions ................................................... ———— — —
Other, including impairment and foreign currency translation (a) ...... — (53) — — (222) (275)
Balance as of December 31, 2015 .............................. $174 $ 929 $1,441 $160 $ 45 $2,749
(a) Includes a $219 million impairment charge within Corporate & Other. Refer to Note 2 for additional information.
Accumulated impairment losses were $219 million as of December 31, 2015, and nil as of December 31, 2014 and
December 31, 2013.
OTHER INTANGIBLE ASSETS
The components of other intangible assets were as follows:
2015 2014
(Millions)
Gross
Carrying
Amount Accumulated Amortization
Net
Carrying
Amount
Gross
Carrying
Amount Accumulated Amortization
Net
Carrying
Amount
Customer relationships (a) ....................... $1,506 $(836) $670 $1,455 $(754) $ 701
Other ......................................... 231 (105) 126 255 (102) 153
Total ......................................... $ 1,737 $ (941) $796 $1,710 $(856) $854
(a) Includes net intangibles related to airline partners of $255 million and $340 million as of December 31, 2015 and 2014, respectively, including
approximately $165 million and $206 million, respectively, related to Delta.
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