Cisco 2014 Annual Report Download - page 97
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The following tables present details of the Company’s purchased intangible assets (in millions):
July 26, 2014 Gross
Accumulated
Amortization Net
Purchased intangible assets with finite lives:
Technology .............................................................. $4,100 $(1,976) $2,124
Customer relationships .................................................... 1,706 (720) 986
Other ................................................................... 51 (13) 38
Total purchased intangible assets with finite lives .................................. 5,857 (2,709) 3,148
In-process research and development, with indefinite lives .......................... 132 — 132
Total ....................................................................... $5,989 $(2,709) $3,280
July 27, 2013 Gross
Accumulated
Amortization Net
Purchased intangible assets with finite lives:
Technology .............................................................. $3,563 $(1,366) $2,197
Customer relationships ..................................................... 1,566 (466) 1,100
Other ................................................................... 30 (10) 20
Total purchased intangible assets with finite lives .................................... 5,159 (1,842) 3,317
In-process research and development, with indefinite lives ............................. 86 — 86
Total ........................................................................ $5,245 $(1,842) $3,403
Purchased intangible assets include intangible assets acquired through business combinations as well as through direct
purchases or licenses.
The following table presents the amortization of purchased intangible assets (in millions):
Years Ended July 26, 2014 July 27, 2013 July 28, 2012
Amortization of purchased intangible assets:
Cost of sales ............................................ $ 742 $ 606 $424
Operating expenses ....................................... 275 395 383
Total .............................................. $1,017 $1,001 $807
There were no impairment charges related to purchased intangible assets during fiscal 2014 and 2013. For fiscal 2012,
amortization of purchased intangible assets included impairment charges of approximately $12 million as a result of declines
in estimated fair value resulting from reductions in expected future cash flows associated with certain of the Company’s
technology assets.
The estimated future amortization expense of purchased intangible assets with finite lives as of July 26, 2014 is as follows (in
millions):
Fiscal Year Amount
2015 ......................................................... $ 979
2016 ......................................................... 743
2017 ......................................................... 567
2018 ......................................................... 407
2019 ......................................................... 307
Thereafter ..................................................... 145
Total ..................................................... $3,148
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