Intangible Assets and Goodwill (Tables)

9 Months Ended

Sep. 30, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible assets

Intangible assets are comprised of the following:

		September 30, 2015
(Millions of dollars)	Weighted Amortizable Life (Years)	Gross Carrying Amount		Accumulated Amortization			Net
Customer relationships	15	$	2,427	$	(773	)	$	1,654
Intellectual property	11	1,720		(645		)	1,075
Other	13	187		(75		)	112
Total finite-lived intangible assets	14	$	4,334	$	(1,493	)	$	2,841

		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)
Remaining Three Months of 2015	2016	2017	2018	2019	Thereafter
$88	$327	$325	$319	$317	$1,465

Goodwill acquired

The changes in carrying amount of goodwill by reportable segment for the nine months ended September 30, 2015 were as follows: 

(Millions of dollars)	December 31, 2014			Acquisitions		Other Adjustments 1			September 30, 2015
Construction Industries
Goodwill	$	275		$	—	$	(10	)	$	265
Resource Industries
Goodwill	4,287			—		(119		)	4,168
Impairments	(580		)	—		—			(580		)
Net goodwill	3,707			—		(119		)	3,588
Energy & Transportation
Goodwill	2,542			21		(38		)	2,525
All Other 2
Goodwill	192			—		(2		)	190
Impairments	(22		)	—		—			(22		)
Net goodwill	170			—		(2		)	168
Consolidated total
Goodwill	7,296			21		(169		)	7,148
Impairments	(602		)	—		—			(602		)
Net goodwill	$	6,694		$	21	$	(169	)	$	6,546

¹Other adjustments are comprised primarily of foreign currency translation.

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