2012 Annual Report  See Note 4 “Acquisitions” for specific details and values assigned to assets acquired and liabilities assumed in our acquisitions of  Amylin and Inhibitex in 2012, Amira in 2011 and ZymoGenetics in 2010. Significant estimates utilized at the time of the valuations  to support the fair values of the lead compounds within the acquisitions include:  Goodwill was $7.6 billion at December 31, 2012. Goodwill is tested at least annually for impairment on an enterprise level by  assessing qualitative factors or performing a quantitative analysis in determining whether it is more likely than not that its fair value  exceeds the carrying value. Examples of qualitative factors assessed in the current year included our share price, our financial  performance compared to budgets, long-term financial plans, macroeconomic, industry and market conditions as well as the  substantial excess of fair value over the carrying value of net assets from the annual impairment test performed in the prior year.  Positive and negative influences of each relevant factor were assessed both individually and in the aggregate and as a result it was  concluded that no additional quantitative testing was required.  For discussion on goodwill, acquired in-process research and development and other intangible assets, see Note 1 “Accounting  Policies—Goodwill, Acquired In-Process Research and Development and Other Intangible Assets.”  Other intangible assets were $8.8 billion at December 31, 2012, including licenses ($626 million), developed technology rights ($7.2  billion), capitalized software ($261 million) and IPRD ($668 million). Intangible assets are tested for impairment whenever current  facts or circumstances warrant a review, although IPRD is required to be tested at least annually. Intangible assets are highly  vulnerable to impairment charges, particularly newly acquired assets for recently launched products or IPRD. These assets are  initially measured at fair value and therefore any reduction in expectations used in the valuations could potentially lead to impairment.  Some of the more common potential risks leading to impairment include competition, earlier than expected loss of exclusivity,  pricing pressures, adverse regulatory changes or clinical trial results, delay or failure to obtain regulatory approval and additional  development costs, inability to achieve expected synergies, higher operating costs, changes in tax laws and other macro-economic  changes. The complexity in estimating the fair value of intangible assets in connection with an impairment test is similar to the initial  valuation.  $^{ }$Considering the high risk nature of research and development and the industry’s success rate of bringing developmental compounds to  market, IPRD impairment charges are likely to occur in future periods. We recognized charges of $2.1 billion in 2012 including a  $1.8 billion charge resulting from the discontinued development of BMS-986094 and for other projects previously acquired in the  Medarex, Inc and Inhibitex acquisition resulting from unfavorable clinical trial results, additional development costs, extended  development periods and decisions to cease further development. We also recognized charges of $30 million in 2011 and $10 million  in 2010 related to three Medarex projects for which development has ceased. IPRD is closely monitored and assessed each period for  impairment.  $^{ }$In addition to IPRD, commercial assets are also subject to impairment. For example, an impairment charge of $120 million was  recognized in 2012 related to a non-key product ( Recothrom ) acquired in the acquisition of ZymoGenetics after continuing  competitive pricing pressures. The preliminary estimated fair value of developed technology rights resulting from the acquisition of  Amylin was $6.3 billion, including $5.3 billion allocated to a recently-launched single asset,  Bydureon . These assets are monitored  for changes in expectations from those used in the initial valuation, including revenue trends and operating synergies.  25  Other Intangible Assets, including IPRD  Goodwill  Impairment  Estimated  Phase of PTRS  Year of first  Discount useful life Development as  Rate projected positive  Dollars in Millions Fair value  rate utilized  (in years)   of acquisition date  utilized  cash flow  Commercialized products:  Bydureon $ 5,260  11.1%  13 N/A  N/A  N/A  Byetta 770  10.0%  7 Symlin 310  9 N/A  N/A  N/A  Recothrom 230  11.0%  10 IPRD: BMS-986094 (formerly INX-189) 1,830  12.0%  N/A  Phase II  38.0%  2017 Metreleptin  120  Phase III  75.0%  AM152  160  12.5%  N/A  Phase I  12.5%  2021 Peginterferon lambda  310  13.5%  Phase IIB  47.6%  2014