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GOODWILL AND OTHER INTANGIBLES-NET

6 Months Ended

Jun. 30, 2014

Goodwill And Other Intangible Assets Net [Abstract]

Goodwill and Other Intangible Assets, Net

Note 9. Goodwill and Other Intangible Assets - Net

The change in the carrying amount of goodwill for the six months ended June 30, 2014 by segment is as follows:

						Currency
		December 31,		Acquisitions/		Translation		June 30,
		2013		Divestitures		Adjustment		2014

Aerospace	$	2,076	$	-	$	6	$	2,082
Automation and Control
Solutions		8,006		(5)		7		8,008
Performance Materials
and Technologies		2,767		-		(5)		2,762
Transportation Systems		197		-		-		197
	$	13,046	$	(5)	$	8	$	13,049


		June 30, 2014						December 31, 2013
		Gross				Net		Gross				Net
		Carrying		Accumulated		Carrying		Carrying		Accumulated		Carrying
		Amount		Amortization		Amount		Amount		Amortization		Amount
Determinable life intangibles:
Patents and technology	$	1,441	$	(984)	$	457	$	1,438	$	(935)	$	503
Customer relationships		1,909		(817)		1,092		1,904		(749)		1,155
Trademarks		192		(125)		67		194		(118)		76
Other		297		(256)		41		294		(234)		60
		3,839		(2,182)		1,657		3,830		(2,036)		1,794

Indefinite life intangibles:
Trademarks		721		-		721		720		-		720
	$	4,560	$	(2,182)	$	2,378	$	4,550	$	(2,036)	$	2,514

Amortization expense related to intangible assets for the three and six months ended June 30, 2014 was $69 million and $139 million, respectively. Amortization expense related to intangible assets for the three and six months ended June 30, 2013 was $78 million and $160 million, respectively.

We completed our annual impairment testing of goodwill and indefinite-lived intangibles as of March 31, 2014 and determined that there was no impairment as of that date. No further matters have arisen subsequent to that date which have resulted in a change to this assessment.

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

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