Target 2014 Annual Report Download - page 49

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Estimated Amortization Expense
(millions) 2015 2016 2017 2018 2019
Amortization expense $ 21 $ 17 $ 14 $ 9 $ 8
13. Other Noncurrent Assets
Other Noncurrent Assets
(millions)
January 31,
2015
February 1,
2014
Goodwill and intangible assets
Company-owned life insurance investments (a)
Interest rate swaps (b)
$ 302 $
322
65
331
305
62
Other 228 409
Total $ 917 $ 1,107
(a) Company-owned
life insurance policies on approximately 4,000 team members who have been designated highly compensated under
the Internal Revenue Code and have given their consent to be insured. Amounts are presented net of loans that are secured by some
of these policies.
(b) See Notes 8 and 19 for additional information relating to our interest rate swaps.
14. Goodwill and Intangible Assets
Goodwill totaled $147 million and $151 million at January 31, 2015 and February 1, 2014, respectively. No impairments
were recorded in 2014, 2013 or 2012 as a result of the goodwill impairment tests performed.
Intangible Assets Leasehold
Acquisition Costs
January 31, February 1,
Other (a)
January 31, February 1,
Total
January 31, February 1,
(millions) 2015 2014 2015 2014 2015 2014
Gross asset $ 224 $ 225 $ 181 $ 180 $ 405 $ 405
Accumulated amortization (133) (126) (117) (106) (250) (232)
Net intangible assets $ 91 $ 99 $ 64 $ 74 $ 155 $ 173
(a) Other intangible assets relate primarily to acquired customer lists and trademarks.
We use the straight-line method to amortize leasehold acquisition costs primarily over 9 to 39 years and other definite-
lived intangibles over 3 to 15 years. The weighted average life of leasehold acquisition costs and other intangible
assets was 26 years and 7 years, respectively, at January 31, 2015. Amortization expense was $22 million, $20 million
and $16 million in 2014, 2013 and 2012, respectively.
15. Accounts Payable
At January 31, 2015 and February 1, 2014, we reclassified book overdrafts of $682 million and $716 million, respectively,
to accounts payable and $82 million and $81 million to accrued and other current liabilities.
44