The following table presents the changes in the accumulated amortization and accumulated impairment losses of the company’s  intangible assets: YEARS ENDED DECEMBER 31  (MILLIONS) 2013 2012 Accumulated amortization and impairment losses at beginning of year  $ (345) $ (242) Amortization  (105) (124) Foreign currency translation and other  53 21 Accumulated amortization and impairment losses at end of year  $ (397) $ (345) The following table presents intangible assets by geography: (MILLIONS) Dec. 31, 2013 Dec. 31, 2012 United States  $ 481 $ 614 Canada  266 292 Australia  2,535 2,963 Brazil  28 32 Europe  456 448 Chile  1,278 1,421 $ 5,044 $ 5,770 Intangible assets, including trademarks, concession agreements and conservancy rights, are recorded at amortized cost and  are tested for impairment annually using a discounted cash flow valuation. This valuation utilizes the following significant  unobservable inputs assumptions: Valuation technique Significant unobservable input(s) Relationship of unobservable input(s) to fair value Discounted cash flow models • Future cash flows • Increases (decreases) in future cash flows will  increase (decrease) the recoverable amount • Discount rate • Increases (decreases) in discount rate will decrease  (increase) the recoverable amount • Terminal capitalization rate • Increases (decreases) in terminal capitalization rate  will decrease (increase) the recoverable amount • Exit date • Increases (decreases) in the exit date will decrease  (increase) the recoverable amount 14. GOODWILL (MILLIONS)  Dec. 31, 2013 Dec. 31, 2012 Cost  $ 1,638 $ 2,540 Accumulated impairment losses  (50) (50) Total  $ 1,588 $ 2,490 Goodwill is allocated to the following cash-generating units: (MILLIONS) Dec. 31, 2013 Dec. 31, 2012 Services – Construction  $ 720 $ 840 Infrastructure – Sustainable resources  — 591 Residential development – Brazil  277 373 Property – Retail property  120 138 Services – Property services  54 102 Asset management  216 205 Other  201 241 Total  $ 1,588 $ 2,490 126 BROOKFIELD ASSET MANAGEMENT 