Intangible Assets and Goodwill (Tables)

3 Months Ended

Mar. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible assets

Intangible assets are comprised of the following:

		March 31, 2019
(Millions of dollars)	Weighted Amortizable Life (Years)	Gross Carrying Amount		Accumulated Amortization			Net
Customer relationships	15	$	2,450	$	(1,283	)	$	1,167
Intellectual property	12	1,522		(966		)	556
Other	13	199		(115		)	84
Total finite-lived intangible assets	14	$	4,171	$	(2,364	)	$	1,807

		December 31, 2018
	Weighted Amortizable Life (Years)	Gross Carrying Amount		Accumulated Amortization			Net
Customer relationships	15	$	2,463	$	(1,249	)	$	1,214
Intellectual property	11	1,557		(965		)	592
Other	13	199		(108		)	91
Total finite-lived intangible assets	14	$	4,219	$	(2,322	)	$	1,897

Expected amortization expense related to intangible assets

Amortization expense related to intangible assets is expected to be:

(Millions of dollars)
Remaining Nine Months of 2019	2020	2021	2022	2023	Thereafter
$243	$310	$292	$273	$215	$474

Goodwill acquired

The changes in carrying amount of goodwill by reportable segment for the three months ended March 31, 2019 were as follows: 

(Millions of dollars)	December 31, 2018			Other Adjustments 1			March 31, 2019
Construction Industries
Goodwill	$	304		$	(1	)	$	303
Impairments	(22		)	—			(22		)
Net goodwill	282			(1		)	281
Resource Industries
Goodwill	4,172			(14		)	4,158
Impairments	(1,175		)	—			(1,175		)
Net goodwill	2,997			(14		)	2,983
Energy & Transportation
Goodwill	2,882			(10		)	2,872
All Other 2
Goodwill	56			(1		)	55
Consolidated total
Goodwill	7,414			(26		)	7,388
Impairments	(1,197		)	—			(1,197		)
Net goodwill	$	6,217		$	(26	)	$	6,191

¹ Other adjustments are comprised primarily of foreign currency translation.

² Includes All Other operating segment (See Note 16).