Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Changes in the Carrying Amount of Goodwill

The components of, and changes in, the carrying amount of goodwill follow:

(MILLIONS OF DOLLARS)	U.S.		International			Total
Balance, December 31, 2017	$	671	$	839		$	1,510
Additions / Adjustments(a)	594		431			1,025
Other(b)	—		(16		)	(16		)
Balance, December 31, 2018	$	1,265	$	1,254		$	2,519
Additions / Adjustments(a)	102		—			102
Other(b)	—		(29		)	(29		)
Balance, December 31, 2019	$	1,367	$	1,225		$	2,592

^(a) For 2019, primarily relates to the acquisitions of Platinum Performance, Phoenix Lab and ZNLabs. See Note 5. Acquisitions and Divestitures

For 2018, primarily includes a $977 million purchase price allocation associated with the acquisition of Abaxis and $48 million related to the acquisition of a manufacturing business in Ireland. See Note 5. Acquisitions and Divestitures.     

^(b)   Includes adjustments for foreign currency translation. For 2018, also includes $2 million related to the divestiture of certain agribusiness products within our International segment.     

Components of Identifiable Intangible Assets

The components of identifiable intangible assets follow:

	As of December 31, 2019							As of December 31, 2018
						Identifiable							Identifiable
	Gross					Intangible Assets,		Gross					Intangible Assets,
	Carrying		Accumulated			Less Accumulated		Carrying		Accumulated			Less Accumulated
(MILLIONS OF DOLLARS)	Amount		Amortization			Amortization		Amount		Amortization			Amortization
Finite-lived intangible assets:
Developed technology rights(a)(b)	$	1,938	$	(657	)	$	1,281	$	1,854	$	(523	)	$	1,331
Brands and tradenames(a)(b)	424		(223		)	201		378		(205		)	173
Other(a)(b)	441		(249		)	192		412		(178		)	234
Total finite-lived intangible assets	2,803		(1,129		)	1,674		2,644		(906		)	1,738
Indefinite-lived intangible assets:
Brands and tradenames	104		—			104		104		—			104
In-process research and development	105		—			105		197		—			197
Product rights	7		—			7		7		—			7
Total indefinite-lived intangible assets	216		—			216		308		—			308
Identifiable intangible assets	$	3,019	$	(1,129	)	$	1,890	$	2,952	$	(906	)	$	2,046

^(a)   Includes intangible assets associated with the acquisitions of Platinum Performance, Phoenix Lab and ZNLabs in 2019.

^(b)  In connection with the acquisition of Abaxis, the company recorded $894 million of intangible assets, as shown in the table below, representing the fair value at the acquisition date. See Note 5. Acquisitions and Divestitures for additional information.

	Gross Carrying		Weighted-average
(MILLIONS OF DOLLARS)	Amount		Life (years)
Finite-lived intangible assets:
Developed technology rights	$	610	10
Brands and tradenames	104		20
Other	180		4
Total	$	894

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

The annual amortization expense expected for the years 2020 through 2024 is as follows:

(MILLIONS OF DOLLARS)	2020		2021		2022		2023		2024
Amortization expense	$	224	$	199	$	188	$	177	$	158

Schedule of Acquired Finite-Lived Intangible Assets by Major Class [Table Text Block]

The components of identifiable intangible assets follow:

	As of December 31, 2019							As of December 31, 2018
						Identifiable							Identifiable
	Gross					Intangible Assets,		Gross					Intangible Assets,
	Carrying		Accumulated			Less Accumulated		Carrying		Accumulated			Less Accumulated
(MILLIONS OF DOLLARS)	Amount		Amortization			Amortization		Amount		Amortization			Amortization
Finite-lived intangible assets:
Developed technology rights(a)(b)	$	1,938	$	(657	)	$	1,281	$	1,854	$	(523	)	$	1,331
Brands and tradenames(a)(b)	424		(223		)	201		378		(205		)	173
Other(a)(b)	441		(249		)	192		412		(178		)	234
Total finite-lived intangible assets	2,803		(1,129		)	1,674		2,644		(906		)	1,738
Indefinite-lived intangible assets:
Brands and tradenames	104		—			104		104		—			104
In-process research and development	105		—			105		197		—			197
Product rights	7		—			7		7		—			7
Total indefinite-lived intangible assets	216		—			216		308		—			308
Identifiable intangible assets	$	3,019	$	(1,129	)	$	1,890	$	2,952	$	(906	)	$	2,046

^(a)   Includes intangible assets associated with the acquisitions of Platinum Performance, Phoenix Lab and ZNLabs in 2019.

^(b)  In connection with the acquisition of Abaxis, the company recorded $894 million of intangible assets, as shown in the table below, representing the fair value at the acquisition date. See Note 5. Acquisitions and Divestitures for additional information.

	Gross Carrying		Weighted-average
(MILLIONS OF DOLLARS)	Amount		Life (years)
Finite-lived intangible assets:
Developed technology rights	$	610	10
Brands and tradenames	104		20
Other	180		4
Total	$	894