Proctor and Gamble 2011 Annual Report Download - page 61

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Notes to Consolidated Financial StatementsThe Procter & Gamble Company 59
Amounts in millions of dollars except per share amounts or as otherwise specified.
Identifiable intangible assets were comprised of:
 2010
June30
Gross
Carrying
Amount
Accumulated
Amortization
Gross
Carrying
Amount
Accumulated
Amortization
INTANGIBLE ASSETS WITH
DETERMINABLE LIVES
Brands $3,392 $1,553 $3,284 $1,318
Patents and technology 3,195 1,840 3,140 1,575
Customer relationships 2,121 602 1,947 460
Other 335 217 304 205
TOTAL9,043 4,212 8,675 3,558
BRANDS WITH INDEFINITE
LIVES 27,789 — 26,519 —
TOTAL36,832 4,212 35,194 3,558
The amortization of intangible assets was as follows:
Years ended June30  2010 2009
Intangible asset amortization $546 $601 $648
Estimated amortization expenseover the next five years is as follows:
Years ended June 30 2012 2013 2014 2015 2016
Estimated amortization expense$499 $454 $393 $354 $324
Such estimates do not reflect the impact of future foreign exchange
rate changes.
NOTE 3
SUPPLEMENTAL FINANCIAL INFORMATION
Selected components of current and noncurrent liabilities were as
follows:
June30  2010
ACCRUED AND OTHER LIABILITIES — CURRENT
Marketing and promotion $3,058 $2,857
Compensation expenses 1,874 1,822
Taxes payable 786 622
Legal and environmental 885 500
Other 2,687 2,758
TOTAL9,290 8,559
OTHER NONCURRENT LIABILITIES
Pension benefits $4,388 $4,701
Other postretirement benefits 1,887 1,915
Uncertain tax positions 2,326 2,381
Other 1,356 1,192
TOTAL9,957 10,189
NOTE 4
SHORT-TERM AND LONG-TERM DEBT
June30  2010
DEBT DUE WITHIN ONE YEAR
Current portion of long-term debt $2,994 $564
Commercial paper 6,950 7,838
Other 37 70
TOTAL9,981 8,472
Short-term weighted average interest rates()0.9% 0.4%
(1) Weighted average short-term interest rates include the effects of interest rate swaps
discussed in Note 5.
June30  2010
LONG-TERM DEBT
.35% USD note due August 2011 $1,000 $1,000
4.88% EUR note due October 2011 1,451 1,221
1.38% USD note due August 2012 1,250 1,250
Floating rate note due November 2012 500 —
3.38% EUR note due December2012 2,031 1,710
4.50% EUR note due May 2014 2,176 1,832
4.95% USD note due August 2014 900 900
3.50% USD note due February 2015 750 750
0.95% JPY note due May 2015 1,243 1,129
3.15% USD note due September 2015 500 500
1.80% USD note due November 2015 1,000 —
4.85% USD note due December 2015 700 700
5.13% EUR note due October 2017 1,596 1,344
4.70% USD note due February 2019 1,250 1,250
4.13% EUR note due December2020 871 733
9.36% ESOP debentures due 2011–2021(1)808 854
4.88% EUR note due May 2027 1,451 1,221
6.25% GBP note due January 2030 805 753
5.50% USD note due February 2034 500 500
5.80% USD note due August 2034 600 600
5.55% USD note due March 2037 1,400 1,400
Capital lease obligations 407 401
All other long-term debt 1,838 1,876
Current portion of long-term debt (2,994) (564)
TOTAL22,033 21,360
Fair value of long-term debt 23,418 23,072
Long-term weighted average interest rates(2)3.4% 3.6%
(1) Debt issued by the ESOP is guaranteed by the Company and must be recorded as debt of the
Company as discussed in Note 8.
(2) Weighted average long-term interest rates include the effects of interest rate swaps and net
investment hedges discussed in Note5.
Long-term debt maturities during the next five years are as follows:
June30 2012 2013 2014 2015 2016
Debt maturities $2,994 $3,839 $2,229 $3,021 $2,300
The Procter& Gamble Company fully and unconditionally guarantees
the registered debt and securities issued by its 100% owned finance
subsidiaries.