Identifiable Intangible Assets and Goodwill (Tables)

12 Months Ended

May 31, 2012

Schedule of Intangible Assets by Major Class

The following table summarizes the Company’s identifiable intangible asset balances as of May 31, 2012 and 2011:


	May 31, 2012							May 31, 2011
(In millions)	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Amortized intangible assets:
Patents	$	99	$	(29	)	$	70	$	80	$	(24	)	$	56
Trademarks		41		(26	)		15		44		(25	)		19
Other		94		(30	)		64		47		(22	)		25
TOTAL	$	234	$	(85	)	$	149	$	171	$	(71	)	$	100
Unamortized intangible assets — Trademarks							386							387
IDENTIFIABLE INTANGIBLE ASSETS, NET						$	535						$	487

Schedule of Goodwill

All goodwill balances are included in the Company’s “Other” category for segment reporting purposes. The following table summarizes the Company’s goodwill balance as of May 31, 2012 and 2011:


(In millions)	Goodwill			Accumulated Impairment			Goodwill, net
May 31, 2010	$	387		$	(199	)	$	188
Umbro France⁽¹⁾		10			0			10
Other⁽²⁾		7			0			7
May 31, 2011		404			(199	)		205
Other⁽²⁾		(4	)		0			(4	)
MAY 31, 2012	$	400		$	(199	)	$	201

(1)

In March 2011, Umbro acquired the remaining 51% of the exclusive licensee and distributor of the Umbro brand in France for approximately $15 million.

(2)

Other consists of foreign currency translation adjustments on Umbro goodwill.

- Definition

Tabular disclosure of goodwill by reportable segment and in total. Disclosure details may include, but are not limited to, the carrying amount of goodwill, goodwill acquired during the year, goodwill impairment losses recognized, goodwill written-off due to the sale of a business unit, goodwill not yet allocated, and any other changes to goodwill.

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