ABB Annual Report 2012 PDF - ABB Group Annual Report 2012

Note 11Goodwill and other intangibleassets, continuedIncluded in the additions of $1,658 million and $1,917 million in 2012 and 2011, respectively, were the followingintangible assets other than goodwill related to business combinations:2012 2011($ in millions)AmountacquiredWeighted-averageuseful lifeAmountacquiredWeighted-averageuseful lifeCapitalized software for internal use – – 15 5 yearsIntangibles other than software:Customer-related (1) 1,200 18 years 1,267 18 yearsTechnology-related 222 5 years 415 6 yearsMarketing-related 161 10 years 153 10 yearsOther – – 3 4 yearsTotal 1,583 15 years 1,853 14 years(1)Includes order backlog related to business combinations.Amortization expense of intangible assets other than goodwill consisted of the following:($ in millions) 2012 2011 2010Capitalized software for internal use 79 87 75Capitalized software for sale 38 48 32Intangibles other than software 332 200 50Total 449 335 157In 2012, 2011 and 2010, impairment charges on intangible assets other than goodwill were not significant.At December 31, 2012, future amortization expense of intangible assets other than goodwill is estimated to be:($ in millions)2013 4462014 3992015 3482016 3232017 248Thereafter 1,737Total 3,501Note 12DebtThe Company’s total debt at December 31, 2012 and 2011, amounted to $10,071 million and $3,996 million,respectively.Short-term debt and currentmaturities of long-term debtThe Company’s “Short-term debt and current maturities of long-term debt” consisted of the following:December 31, ($ in millions) 2012 2011Short-term debt (weighted-average interest rate of 1.7% and 3.4%, respectively) 1,531 689Current maturities of long-term debt (weighted-average nominal interest rate of 4.8% and 4.6%, respectively) 1,006 76Total 2,537 765Short-term debt primarily represented issued commercial paper and short-term loans from various banks.At December 31, 2012 and 2011, the Company had in place three commercial paper programs: a $1 billion Euro-commercialpaper program for the issuance of commercial paper in a variety of currencies; a 5 billion Swedish krona commercialpaper program for the issuance of Swedish krona and euro-denominated commercial paper and, since the third quarterof 2012, a $2 billion commercial paper program for the private placement of U.S. dollar denominated commercial paperin the United States that replaced the previous $1 billion program (terminated in the third quarter of 2012). At December31, 2012 and 2011, $1,019 million and $435 million, were outstanding under the $2 billion and $1 billion programs,respectively, in the United States.106 Financial review | ABB Annual Report 2012