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Verizon 2005 Interactive Annual Report
note 7
GOODWILL AND OTHER INTANGIBLE ASSETS
Goodwill
Changes in the carrying amount of goodwill are as follows:
(dollars in millions )
  Domestic   Information          
  Telecom   Services   International   Total  
Balance at December 31, 2003 $ 314   $ 77   $ 444   $ 835  
   Goodwill reclassifications and other   1         1     2  
Balance at December 31, 2004   315     77     445     837  
   Goodwill reclassifications and other           (1 )   (1 )
Balance at December 31, 2005 $ 315   $ 77   $ 444   $ 836  
Other Intangible Assets
(dollars in millions )
  At December 31, 2005   At December 31, 2004  
  Gross Carrying   Accumulated   Gross Carrying   Accumulated  
  Amount   Amortization   Amount   Amortization  
Amortized intangible assets:                        
   Customer lists (1 to 7 years) $ 3,452   $ 3,295   $ 3,444   $ 2,832  
   Non-network internal-use software
      (1 to 7 years)
  7,504     3,427     6,866     2,997  
   Other (1 to 20 years)   83     24     62     22  
Total $ 11,039   $ 6,746   $ 10,372   $ 5,851  
Unamortized intangible assets:                        
   Wireless licenses $ 47,804         $ 42,090        
Intangible asset amortization expense was $1,528 million, $1,402 million, and $1,397 million for the years ended December 31, 2005, 2004 and 2003, respectively. It is estimated to be $1,183 million in 2006, $868 million in 2007, $702 million in 2008, $565 million in 2009 and $349 million in 2010, primarily related to customer lists and non-network internal-use software.
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* This is an interactive electronic version of Verizon’s 2005 Annual Report to Shareholders, and it is intended to be complete and accurate. The contents of this version are qualified in their entirety by reference to the printed version. A reproduction of the printed version is available in PDF format on this website.