Intangible Assets

12 Months Ended

Sep. 30, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

Intangible Assets

Goodwill and other intangible assets related to the former Diabetes Care business have been reclassified as Noncurrent Assets of Discontinued Operations for prior year periods. For additional information, see Note 2.

Intangible assets at September 30 consisted of:

	2022						2021
(Millions of dollars)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Amortized intangible assets
Developed technology	$	15,087	$	(5,979)	$	9,108	$	14,399	$	(4,983)	$	9,417
Customer relationships	4,853		(2,170)		2,683		4,653		(1,838)		2,815
Product rights	97		(72)		25		123		(83)		40
Trademarks	408		(155)		253		409		(137)		271
Patents and other	542		(346)		196		523		(339)		184
Amortized intangible assets	$	20,987	$	(8,723)	$	12,264	$	20,106	$	(7,381)	$	12,726
Unamortized intangible assets
Acquired in-process research and development	$	44					$	44
Trademarks	2						2
Unamortized intangible assets	$	46					$	46

Intangible amortization expense was $1.430 billion, $1.402 billion and $1.384 billion in 2022, 2021 and 2020, respectively. The estimated aggregate amortization expense for the fiscal years ending September 30, 2023 to 2027 are as follows: 2023 — $1.385 billion; 2024 — $1.382 billion; 2025 — $1.381 billion; 2026 — $1.350 billion; 2027 — $1.292 billion.

The following is a reconciliation of goodwill by business segment:

(Millions of dollars)	Medical		Life Sciences		Interventional		Total
Goodwill as of September 30, 2020	$	10,028	$	837	$	12,739	$	23,604
Acquisitions (a)	193		—		72		264
Purchase price allocation adjustments	4		—		1		6
Currency translation	15		(1)		(2)		12
Goodwill as of September 30, 2021	$	10,240	$	836	$	12,810	$	23,886
Acquisitions (b)	814		71		188		1,073
Purchase price allocation adjustments	1		—		(2)		(1)
Currency translation	(145)		(20)		(171)		(337)
Goodwill as of September 30, 2022	$	10,909	$	888	$	12,824	$	24,621

(a)Represents goodwill recognized relative to certain acquisitions which were not material individually or in the aggregate.

(b)Primarily represents goodwill recognized in the Medical segment upon the Company's acquisition of Parata, which is further discussed in Note 11. Also includes goodwill recognized relative to certain acquisitions which were not material individually or in the aggregate.