Intangible Assets and Goodwill (Tables)

3 Months Ended

Mar. 31, 2017

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible assets

Intangible assets are comprised of the following:

		March 31, 2017
(Millions of dollars)	Weighted Amortizable Life (Years)	Gross Carrying Amount		Accumulated Amortization			Net
Customer relationships	15	$	2,388	$	(978	)	$	1,410
Intellectual property	11	1,497		(729		)	768
Other	13	191		(82		)	109
Total finite-lived intangible assets	14	$	4,076	$	(1,789	)	$	2,287

		December 31, 2016
	Weighted Amortizable Life (Years)	Gross Carrying Amount		Accumulated Amortization			Net
Customer relationships	15	$	2,378	$	(934	)	$	1,444
Intellectual property	11	1,496		(706		)	790
Other	14	192		(77		)	115
Total finite-lived intangible assets	14	$	4,066	$	(1,717	)	$	2,349

Expected amortization expense related to intangible assets

Amortization expense related to intangible assets is expected to be:

(Millions of dollars)
Remaining Nine Months of 2017	2018	2019	2020	2021	Thereafter
$237	$311	$305	$295	$277	$862

Goodwill acquired

The changes in carrying amount of goodwill by reportable segment for the three months ended March 31, 2017 were as follows: 

(Millions of dollars)	December 31, 2016			Other Adjustments 1		March 31, 2017
Construction Industries
Goodwill	$	296		$	3	$	299
Impairments	(22		)	—		(22		)
Net goodwill	274			3		277
Resource Industries
Goodwill	4,110			21		4,131
Impairments	(1,175		)	—		(1,175		)
Net goodwill	2,935			21		2,956
Energy & Transportation
Goodwill	2,756			7		2,763
All Other 2
Goodwill	55			—		55
Consolidated total
Goodwill	7,217			31		7,248
Impairments	(1,197		)	—		(1,197		)
Net goodwill	$	6,020		$	31	$	6,051

¹ Other adjustments are comprised primarily of foreign currency translation.

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