Intangible Assets and Goodwill (Tables)

3 Months Ended

Mar. 31, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible assets

Intangible assets are comprised of the following:

		March 31, 2018
(Millions of dollars)	Weighted Amortizable Life (Years)	Gross Carrying Amount		Accumulated Amortization			Net
Customer relationships	15	$	2,527	$	(1,159	)	$	1,368
Intellectual property	11	1,569		(878		)	691
Other	13	197		(93		)	104
Total finite-lived intangible assets	14	$	4,293	$	(2,130	)	$	2,163

		December 31, 2017
	Weighted Amortizable Life (Years)	Gross Carrying Amount		Accumulated Amortization			Net
Customer relationships	15	$	2,441	$	(1,122	)	$	1,319
Intellectual property	11	1,538		(851		)	687
Other	13	198		(93		)	105
Total finite-lived intangible assets	14	$	4,177	$	(2,066	)	$	2,111

Expected amortization expense related to intangible assets

Amortization expense related to intangible assets is expected to be:

(Millions of dollars)
Remaining Nine Months of 2018	2019	2020	2021	2022	Thereafter
$251	$328	$317	$299	$279	$689

Goodwill acquired

The changes in carrying amount of goodwill by reportable segment for the three months ended March 31, 2018 were as follows: 

(Millions of dollars)	December 31, 2017			Acquisitions 1		Other Adjustments 2		March 31, 2018
Construction Industries
Goodwill	$	305		$	—	$	8	$	313
Impairments	(22		)	—		—		(22		)
Net goodwill	283			—		8		291
Resource Industries
Goodwill	4,232			—		24		4,256
Impairments	(1,175		)	—		—		(1,175		)
Net goodwill	3,057			—		24		3,081
Energy & Transportation
Goodwill	2,806			124		16		2,946
All Other 3
Goodwill	54			—		4		58
Consolidated total
Goodwill	7,397			124		52		7,573
Impairments	(1,197		)	—		—		(1,197		)
Net goodwill	$	6,200		$	124	$	52	$	6,376

¹ See Note 20 for additional details.

² Other adjustments are comprised primarily of foreign currency translation.

³ Includes All Other operating segments (See Note 15).