Intangible Assets and Goodwill (Tables)

3 Months Ended

Mar. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible assets

Intangible assets were comprised of the following:

		March 31, 2022
(Millions of dollars)	Weighted Amortizable Life (Years)	Gross Carrying Amount		Accumulated Amortization		Net
Customer relationships	15	$	2,273	$	(1,601)	$	672
Intellectual property	12	1,473		(1,225)		248
Other	16	131		(84)		47
Total finite-lived intangible assets	14	$	3,877	$	(2,910)	$	967

		December 31, 2021
	Weighted Amortizable Life (Years)	Gross Carrying Amount		Accumulated Amortization		Net
Customer relationships	15	$	2,421	$	(1,709)	$	712
Intellectual property	12	1,472		(1,192)		280
Other	14	156		(106)		50
Total finite-lived intangible assets	14	$	4,049	$	(3,007)	$	1,042

Expected amortization expense related to intangible assets

Amortization expense related to intangible assets is expected to be:

(Millions of dollars)
Remaining Nine Months of 2022	2023	2024	2025	2026	Thereafter
$214	$227	$168	$158	$87	$113

Goodwill acquired

The changes in carrying amount of goodwill by reportable segment for the three months ended March 31, 2022 were as follows: 

(Millions of dollars)	December 31, 2021		Other Adjustments 1		March 31, 2022
Construction Industries
Goodwill	$	302	$	(9)	$	293
Impairments	(22)		—		(22)
Net goodwill	280		(9)		271
Resource Industries
Goodwill	4,182		2		4,184
Impairments	(1,175)		—		(1,175)
Net goodwill	3,007		2		3,009
Energy & Transportation
Goodwill	2,985		(22)		2,963
All Other 2
Goodwill	52		(2)		50
Consolidated total
Goodwill	7,521		(31)		7,490
Impairments	(1,197)		—		(1,197)
Net goodwill	$	6,324	$	(31)	$	6,293

1 Other adjustments are comprised primarily of foreign currency translation.

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