Goodwill and Other Intangible Assets

Changes in the carrying amount of goodwill for the three months ended March 31, 2019 were as follows:



(Millions of dollars)	Americas			EMEA			APAC			Engineering		Other			Total
Balance, December 31, 2018*	$	9,174		$	10,960		$	5,295		$	1,075	$	370		$	26,874
Measurement period adjustments*	280			—			(330		)	—		(4		)	(54		)
Acquisitions	115			—			—			—		—			115
Foreign currency translation	(6		)	(138		)	50			—		(21		)	(115		)
Balance, March 31, 2019	$	9,563		$	10,822		$	5,015		$	1,075	$	345		$	26,820

* The final determination of the goodwill assignment to segments may result in further measurement period adjustments to the preliminary values recorded in the purchase accounting for the merger (See Note 4).

Goodwill is tested annually in the second quarter and when there is an indication of an impairment. Effective October 31, 2018, Praxair and Linde AG combined their respective business and became subsidiaries of Linde Plc. During the first quarter following the lifting of the “Hold Separate Order” on March 1, 2019, the company realigned the reporting units. An impairment analysis was performed immediately prior to the change and following the realignment of reporting units. Linde applied the FASB's accounting guidance which allows the company to first assess qualitative factors to determine the extent of additional quantitative analysis, if any, that may be required to test goodwill for impairment (refer to Note 1 to the consolidated financial statements of Linde's 2018 Annual Report on Form 10-K). Based on the qualitative analysis, Linde’s impairment test determined that it was more likely than not that the fair value of each of its reporting units was substantially in excess of its carrying value. Therefore, further quantitative analysis was not required. Additionally, the company reviews the financial performance of its reporting units over the course of the year to assess whether circumstances have changed that would indicate it is more likely than not that the fair value of a reporting unit has declined below its carrying value. In cases where an indication of impairment is determined to exist, the company completes an interim goodwill impairment test specifically for that reporting unit. As a result, no impairment was recorded and there were no indicators of impairment through March 31, 2019.

Changes in the carrying amounts of other intangibles for the three months ended March 31, 2019 were as follows:



(Millions of dollars)	Customer relationships			Brands/Tradenames			Other Intangible Assets			Total
Cost:
Balance, December 31, 2018⁽¹⁾	$	13,288		$	2,288		$	1,366		$	16,942
Additions	24			6			6			36
Foreign currency translation	(87		)	(25		)	(10		)	(122		)
Other	—			—			12			12
Balance, March 31, 2019	$	13,225		$	2,269		$	1,374		$	16,868
Less: Accumulated amortization
Balance, December 31, 2018	$	(317	)	$	(22	)	$	(380	)	$	(719	)
Amortization expense	(159		)	(9		)	(35		)	(203		)
Foreign currency translation	1			—			1			2
Other	—			—			(4		)	(4		)
Balance, March 31, 2019	$	(475	)	$	(31	)	$	(418	)	$	(924	)
Net balance at March 31, 2019	$	12,750		$	2,238		$	956		$	15,944


(1)	Final determination of the intangible asset values may result in measurement period adjustments to the preliminary values recorded in the purchase accounting for the merger (see Note 4).

There are no expected residual values related to these intangible assets. The remaining weighted-average amortization period for intangible assets is approximately 26 years.

Total estimated annual amortization expense is as follows:



(Millions of dollars)
Remaining 2019	$	766
2020	993
2021	836
2022	804
2023	780
Thereafter	10,120
Total amortization related to finite-lived intangible assets	14,299
Indefinite-lived intangible assets at March 31, 2019	1,645
Net intangible assets at March 31, 2019	$	15,944