Intangible Assets and Goodwill (Tables)

6 Months Ended

Jun. 30, 2016

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible assets

Intangible assets are comprised of the following:

		June 30, 2016
(Millions of dollars)	Weighted Amortizable Life (Years)	Gross Carrying Amount		Accumulated Amortization			Net
Customer relationships	15	$	2,511	$	(899	)	$	1,612
Intellectual property	11	1,620		(693		)	927
Other	14	182		(69		)	113
Total finite-lived intangible assets	14	$	4,313	$	(1,661	)	$	2,652

		December 31, 2015
	Weighted Amortizable Life (Years)	Gross Carrying Amount		Accumulated Amortization			Net
Customer relationships	15	$	2,489	$	(809	)	$	1,680
Intellectual property	11	1,660		(626		)	1,034
Other	12	174		(67		)	107
Total finite-lived intangible assets	14	$	4,323	$	(1,502	)	$	2,821

Expected amortization expense related to intangible assets

Amortization expense related to intangible assets is expected to be:

(Millions of dollars)
Remaining Six Months of 2016	2017	2018	2019	2020	Thereafter
$166	$331	$322	$320	$309	$1,204

Goodwill acquired

The changes in carrying amount of goodwill by reportable segment for the six months ended June 30, 2016 were as follows: 

(Millions of dollars)	December 31, 2015			Other Adjustments 1		June 30, 2016
Construction Industries
Goodwill	$	285		$	17	$	302
Impairments	(22		)	—		(22		)
Net goodwill	263			17		280
Resource Industries
Goodwill	4,145			25		4,170
Impairments	(580		)	—		(580		)
Net goodwill	3,565			25		3,590
Energy & Transportation
Goodwill	2,738			14		2,752
All Other 2
Goodwill	49			6		55
Consolidated total
Goodwill	7,217			62		7,279
Impairments	(602		)	—		(602		)
Net goodwill	$	6,615		$	62	$	6,677

¹ Other adjustments are comprised primarily of foreign currency translation.

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