Hubbell Policies

amortization) or indefinite-lived (not subject to amortization)

4. For intangible assets that are definite-lived, the useful life of the intangible asset and related amortization period, any subsequent adjustment to the useful life of intangible assets must be approved by the Corporate Controller’s office 5. For intangible assets that are definite-lived, the method of amortization (i.e., straight-line or economic value)

The assessment and accounting for impairments of intangible assets is governed by the Policy for Asset Impairments.

ADMINISTRATION Roles and Responsibilities. None

Monitoring, Evaluation and Review. None

Exceptions. None

ACCOUNTING AND DISCLOSURE None REPORTING None DEFINITIONS

Intangible assets shall mean assets (not including financial assets) that lack physical substance. Intangible assets can be acquired through a business combination, an asset acquisition, or may be internally generated. Certain intangible assets are individually identified and separately recognized in the financial statements under U.S. GAAP, including intangible assets representing the value of customer lists, trademarks and trade names, and technology. Goodwill shall mean an asset representing the future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. Goodwill is not amortized under U.S. GAAP. RELATED DOCUMENTS (Policies, Guidelines, Standards) • FIN-03 Asset Impairment Policy VERSION Version Approval Effective Changes 1 J. Capozzoli, A. Hsieh, S. Mais 2014.08.01 Original Issue 2 J. Capozzoli, K. Lane, S. Mais 2019.08.15 Conformed to new template

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