Liberty TripAdvisor Holdings, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Goodwill and Other Intangible Assets (Tables)

Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2020

Goodwill and Other Intangible Assets

Schedule of changes in the carrying amount of goodwill


		Tripadvisor	Hotels, Media & Platform	Experiences & Dining	Corporate and other	Total

	(in millions)
Balance at January 1, 2019	$	2,443	-	-	-	2,443
Allocation to new segments (1)		(2,443)	1,923	250	270	-
Acquisition (2)		-	-	85	-	85
Other (3)		-	-	(2)	1	(1)
Balance at December 31, 2019	$	-	1,923	333	271	2,527
Allocation to new segments (4)		-	6	-	(6)	-
Impairments (5)		-	(279)	-	(21)	(300)
Dispositions (6)		-	-	-	(18)	(18)
Other (7)		-	-	29	2	31
Balance at December 31, 2020	$	-	1,650	362	228	2,240

(1)

The Company changed its reportable segments in the first quarter of 2019.

(2)

Additions to goodwill relate to Tripadvisor’s acquisitions (see note 4).

(3)

Other changes are primarily due to foreign currency translation on goodwill.

(4)

Re-allocation of goodwill as a result of changes to reporting units related to Tripadvisor internal restructuring.

(5)

TripCo recorded an $18 million goodwill impairment related to a business that was sold in June 2020, and an additional $3 million goodwill impairment during the third quarter of 2020 as a result of strategic decisions made regarding Tripadvisor’s China business. See discussion of the Hotels, Media & Platform reporting unit impairment below.

(6)

Dispositions relates to the sale of the aforementioned Tripadvisor business.

(7)

Other changes primarily relate to immaterial acquisitions and foreign currency translation on goodwill.

Schedule of intangible assets subject to amortization


	December 31, 2020					December 31, 2019
	Weighted
	Average	Gross			Net	Gross		Net
	Remaining	carrying		Accumulated	carrying	carrying	Accumulated	carrying
	Useful Life	amount		amortization	amount	amount	amortization	amount

	in years	amounts in millions
Customer relationships	1	$	1,059	(992)	67	1,036	(910)	126
Other	3		589	(454)	135	552	(401)	151
Total		$	1,648	(1,446)	202	1,588	(1,311)	277

Schedule of future amortization expense

The estimated future amortization expense for the next five years related to intangible assets with definite lives as of December 31, 2020, assuming no subsequent impairment of the underlying assets, is as follows (amounts in millions):


2021	$	80
2022	$	35
2023	$	31
2024	$	28
2025	$	25