Goodwill and Other Intangible Assets (Tables)

6 Months Ended

Jun. 30, 2024

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, 2023	$	1,532	$	1,227	$	2,759
Other(a)	(17)		(3)		(20)
Balance, June 30, 2024	$	1,515	$	1,224	$	2,739

(a)     Includes adjustments for the reclassification of goodwill of $24 million to Assets held for sale related to the planned sale of our medicated feed additive product portfolio, certain water soluble products and related assets, as well as foreign currency translation. For additional information, see Note 5. Acquisitions and Divestitures: B. Divestitures.

Components of Identifiable Intangible Assets

The components of identifiable intangible assets are as follows:

	As of June 30, 2024						As of December 31, 2023
					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	$	1,925	$	(1,124)	$	801	$	1,986	$	(1,101)	$	885
Brands and tradenames	370		(242)		128		383		(246)		137
Other	275		(193)		82		270		(190)		80
Total finite-lived intangible assets	2,570		(1,559)		1,011		2,639		(1,537)		1,102
Indefinite-lived intangible assets:
Brands and tradenames	67		—		67		88		—		88
In-process research and development	142		—		142		141		—		141
Product rights	6		—		6		7		—		7
Total indefinite-lived intangible assets	215		—		215		236		—		236
Identifiable intangible assets	$	2,785	$	(1,559)	$	1,226	$	2,875	$	(1,537)	$	1,338