Intangible Assets and Goodwill (Tables)

6 Months Ended

Jun. 30, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible assets

Intangible assets are comprised of the following:

		June 30, 2018
(Millions of dollars)	Weighted Amortizable Life (Years)	Gross Carrying Amount		Accumulated Amortization			Net
Customer relationships	15	$	2,467	$	(1,173	)	$	1,294
Intellectual property	11	1,546		(899		)	647
Other	13	195		(97		)	98
Total finite-lived intangible assets	14	$	4,208	$	(2,169	)	$	2,039

		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 Six Months of 2018	2019	2020	2021	2022	Thereafter
$164	$322	$311	$293	$274	$675

Goodwill acquired

The changes in carrying amount of goodwill by reportable segment for the six months ended June 30, 2018 were as follows: 

(Millions of dollars)	December 31, 2017			Acquisitions 1		Other Adjustments 2			June 30, 2018
Construction Industries
Goodwill	$	305		$	—	$	3		$	308
Impairments	(22		)	—		—			(22		)
Net goodwill	283			—		3			286
Resource Industries
Goodwill	4,232			—		(37		)	4,195
Impairments	(1,175		)	—		—			(1,175		)
Net goodwill	3,057			—		(37		)	3,020
Energy & Transportation
Goodwill	2,806			121		(40		)	2,887
All Other 3
Goodwill	54			—		2			56
Consolidated total
Goodwill	7,397			121		(72		)	7,446
Impairments	(1,197		)	—		—			(1,197		)
Net goodwill	$	6,200		$	121	$	(72	)	$	6,249

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).