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Intangible Assets and Goodwill (Tables)
 3 Months Ended
Mar. 31, 2013
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible assets
Intangible assets are comprised of the following:
 
 
 
 
March 31, 2013
(Millions of dollars)
Weighted
Amortizable
Life (Years)
 
Gross
Carrying
Amount
 
Accumulated
Amortization
 
Net
Customer relationships
15
 
$
2,715

 
$
(419
)
 
$
2,296

Intellectual property
11
 
1,754

 
(376
)
 
1,378

Other
10
 
295

 
(112
)
 
183

Total finite-lived intangible assets
13
 
4,764

 
(907
)
 
3,857

Indefinite-lived intangible assets - In-process research & development
 
 
18

 
—

 
18

Total intangible assets
 
 
$
4,782

 
$
(907
)
 
$
3,875

 
 
 
 
December 31, 2012
 
Weighted
Amortizable
Life (Years)
 
Gross
Carrying
Amount
 
Accumulated
Amortization
 
Net
Customer relationships
15
 
$
2,756

 
$
(377
)
 
$
2,379

Intellectual property
12
 
1,767

 
(342
)
 
1,425

Other
10
 
299

 
(105
)
 
194

Total finite-lived intangible assets
13
 
4,822

 
(824
)
 
3,998

Indefinite-lived intangible assets - In-process research & development
 
 
18

 
—

 
18

Total intangible assets
 
 
$
4,840

 
$
(824
)
 
$
4,016

 
 
 
 
 
 
 
 
Expected amortization expense related to intangible assets
Amortization expense related to intangible assets is expected to be:
(Millions of dollars)
2013
 
2014
 
2015
 
2016
 
2017
 
Thereafter
$376
 
$370
 
$369
 
$360
 
$356
 
$2,138
 
 
 
 
 
 
 
 
 
 
 
Goodwill
The changes in the carrying amount of the goodwill by reportable segment for the three months ended March 31, 2013 were as follows: 
 
(Millions of dollars)
 
 
 
 
 
 
 
 
 
 
December 31,
2012
 
Held for Sale and Business Divestitures 1
 
Other Adjustments 2
 
March 31,
2013
Construction Industries
 
 
 
 
 
 
 


Goodwill
 
$
382

 
$
—

 
$
(30
)
 
$
352

Resource Industries
 
 
 
 
 
 
 
 
Goodwill
 
4,559

 
(8
)
 
(38
)
 
4,513

Impairments
 
(602
)
 
—

 
—

 
(602
)
Net goodwill
 
3,957

 
(8
)
 
(38
)
 
3,911

Power Systems
 
 
 
 
 
 
 
 
Goodwill
 
2,486

 
(10
)
 
(16
)
 
2,460

All Other 3
 
 
 
 
 
 
 
 
Goodwill
 
117

 
—

 
—

 
117

Consolidated total
 
 
 
 
 
 
 
 
Goodwill
 
7,544

 
(18
)
 
(84
)
 
7,442

Impairments
 
(602
)
 
—

 
—

 
(602
)
Net goodwill
 
$
6,942

 
$
(18
)
 
$
(84
)
 
$
6,840


1  See Note 19 for additional details.
2  Other adjustments are comprised primarily of foreign currency translation.
3  Includes All Other operating segment (See Note 15).