For consolidated reporting purposes, goodwill existing on a target company's books at the acquisition date must be amortized if it arose before the issuance of FAS 141.

Name: For consolidated reporting purposes, goodwill existing on a target company's books at the acquisition date must be amortized if it arose before the issuance of FAS 141.
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Goodwill is not amortized but is tested annually for impairment, according to the accounting standards issued after FAS 141 (now codified as ASC 350 by the FASB).

For Consolidated Reporting Purposes, Goodwill Existing on a Target Company's