Intangible Assets and Goodwill (Tables)

3 Months Ended

Mar. 31, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible assets

Intangible assets are comprised of the following:

		March 31, 2015
(Millions of dollars)	Weighted Amortizable Life (Years)	Gross Carrying Amount		Accumulated Amortization			Net
Customer relationships	15	$	2,400	$	(687	)	$	1,713
Intellectual property	11	1,656		(579		)	1,077
Other	11	234		(134		)	100
Total finite-lived intangible assets	14	4,290		(1,400		)	2,890

		December 31, 2014
	Weighted Amortizable Life (Years)	Gross Carrying Amount		Accumulated Amortization			Net
Customer relationships	15	$	2,489	$	(669	)	$	1,820
Intellectual property	11	1,724		(578		)	1,146
Other	11	239		(129		)	110
Total finite-lived intangible assets	14	4,452		(1,376		)	3,076

Expected amortization expense related to intangible assets

Amortization expense related to intangible assets is expected to be:

(Millions of dollars)
2015	2016	2017	2018	2019	Thereafter
$331	$310	$308	$303	$301	$1,424

Goodwill

The changes in carrying amount of goodwill by reportable segment for the three months ended March 31, 2015 were as follows: 

(Millions of dollars)	December 31, 2014			Other Adjustments 1			March 31, 2015
Construction Industries
Goodwill	$	275		$	(7	)	$	268
Resource Industries
Goodwill	4,287			(137		)	4,150
Impairments	(580		)	—			(580		)
Net goodwill	3,707			(137		)	3,570
Energy & Transportation
Goodwill	2,542			(56		)	2,486
All Other 2
Goodwill	192			(1		)	191
Impairments	(22		)	—			(22		)
Net goodwill	170			(1		)	169
Consolidated total
Goodwill	7,296			(201		)	7,095
Impairments	(602		)	—			(602		)
Net goodwill	$	6,694		$	(201	)	$	6,493

¹Other adjustments are comprised primarily of foreign currency translation.

² Includes All Other operating segments (See Note 15).