Goodwill and Other Intangible Assets (Tables)

9 Months Ended

Sep. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Changes in the Carrying Amount of Goodwill

The components of, and changes in, the carrying amount of goodwill are as follows:

(MILLIONS OF DOLLARS)	U.S.		International		Total
Balance, December 31, 2022	$	1,485	$	1,261	$	2,746
Additions	24		14		38
Transfers/Adjustments(a)	27		(34)		(7)
Other(b)	(2)		(13)		(15)
Balance, September 30, 2023	$	1,534	$	1,228	$	2,762

(a) Primarily related to asset transfers from international markets to the U.S.

(b) Includes adjustments for foreign currency translation and the sale of a majority interest in our pet insurance business within our U.S. segment.

Components of Identifiable Intangible Assets

The components of identifiable intangible assets are as follows:

	As of September 30, 2023						As of December 31, 2022
					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)	$	1,994	$	(1,065)	$	929	$	1,918	$	(975)	$	943
Brands and tradenames	391		(245)		146		395		(237)		158
Other	333		(250)		83		337		(233)		104
Total finite-lived intangible assets	2,718		(1,560)		1,158		2,650		(1,445)		1,205
Indefinite-lived intangible assets:
Brands and tradenames	91		—		91		91		—		91
In-process research and development(a)(b)	142		—		142		77		—		77
Product rights	7		—		7		7		—		7
Total indefinite-lived intangible assets	240		—		240		175		—		175
Identifiable intangible assets	$	2,958	$	(1,560)	$	1,398	$	2,825	$	(1,445)	$	1,380

(a) During the nine months ended September 30, 2023, certain intangible assets related to the acquisition of an Irish biologic therapeutics company, acquired in 2017, were placed into service.

(b) As of September 30, 2023, primarily includes intangible assets related to the acquisitions of PetMedix and adivo in the third quarter of 2023.