| GOODWILL AND INTANGIBLE ASSETS |
GOODWILL AND INTANGIBLE ASSETS
The following table indicates the allocation of goodwill by reportable segment as of March 31, 2019 and December 31, 2018 (in millions):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S. Domestic
Package
|
|
International
Package
|
|
Supply Chain &
Freight
|
|
Consolidated |
December 31, 2018: |
$ |
715 |
|
|
$ |
417 |
|
|
$ |
2,679 |
|
|
$ |
3,811 |
|
Acquired |
— |
|
|
2 |
|
|
— |
|
|
2 |
|
Currency / Other |
— |
|
|
(2 |
) |
|
2 |
|
|
— |
|
March 31, 2019: |
$ |
715 |
|
|
$ |
417 |
|
|
$ |
2,681 |
|
|
$ |
3,813 |
|
The change in goodwill for both the International Package and Supply Chain & Freight segments was primarily due to the impact of changes in the value of the U.S. Dollar on the translation of non-U.S. Dollar goodwill balances.
The following is a summary of intangible assets as of March 31, 2019 and December 31, 2018 (in millions):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross Carrying
Amount
|
|
Accumulated
Amortization
|
|
Net Carrying
Value
|
March 31, 2019: |
|
|
|
|
|
Capitalized software |
$ |
3,783 |
|
|
$ |
(2,524 |
) |
|
$ |
1,259 |
|
Licenses |
117 |
|
|
(43 |
) |
|
74 |
|
Franchise rights |
146 |
|
|
(106 |
) |
|
40 |
|
Customer relationships |
737 |
|
|
(236 |
) |
|
501 |
|
Trade name |
200 |
|
|
— |
|
|
200 |
|
Trademarks, patents and other |
55 |
|
|
(36 |
) |
|
19 |
|
Total Intangible Assets, Net |
$ |
5,038 |
|
|
$ |
(2,945 |
) |
|
$ |
2,093 |
|
December 31, 2018: |
|
|
|
|
|
Capitalized software |
$ |
3,693 |
|
|
$ |
(2,478 |
) |
|
$ |
1,215 |
|
Licenses |
117 |
|
|
(36 |
) |
|
81 |
|
Franchise rights |
145 |
|
|
(105 |
) |
|
40 |
|
Customer relationships |
736 |
|
|
(217 |
) |
|
519 |
|
Trade name |
200 |
|
|
— |
|
|
200 |
|
Trademarks, patents and other |
52 |
|
|
(31 |
) |
|
20 |
|
Total Intangible Assets, Net |
$ |
4,943 |
|
|
$ |
(2,867 |
) |
|
$ |
2,075 |
|
As of March 31, 2019, we had a trade name with a carrying value of $200 million and licenses with a carrying value of $4 million, which are deemed to be indefinite-lived intangible assets and are included in the table above.
|