GOODWILL AND OTHER INTANGIBLES-NET

12 Months Ended

Dec. 31, 2015

Goodwill And Other Intangible Assets Net [Abstract]

Goodwill and Other Intangible Assets, Net

Note 10. Goodwill and Other Intangible Assets - Net

The change in the carrying amount of goodwill for the years ended December 31, 2015 and 2014 by segment is as follows:

						Currency
		December 31,		Acquisitions/		Translation		December 31,
		2014		Divestitures		Adjustment		2015
Aerospace	$	2,258	$	49	$	(11)	$	2,296
Automation and Control
Solutions		7,824		2,980		(216)		10,588
Performance Materials
and Technologies		2,706		370		(65)		3,011
	$	12,788	$	3,399	$	(292)	$	15,895

Other intangible assets are comprised of:
		December 31, 2015						December 31, 2014
		Gross				Net		Gross				Net
		Carrying		Accumulated		Carrying		Carrying		Accumulated		Carrying
		Amount		Amortization		Amount		Amount		Amortization		Amount
Determinable life intangibles:
Patents and technology	$	1,688	$	(1,061)	$	627	$	1,400	$	(1,005)	$	395
Customer relationships		3,558		(942)		2,616		1,867		(857)		1,010
Trademarks		230		(131)		99		191		(125)		66
Other		323		(264)		59		291		(260)		31
		5,799		(2,398)		3,401		3,749		(2,247)		1,502

Indefinite life intangibles:
Trademarks		1,176		-		1,176		706		-		706
	$	6,975	$	(2,398)	$	4,577	$	4,455	$	(2,247)	$	2,208

Intangible assets amortization expense was $211 million, $257 million, and $319 million in 2015, 2014, 2013. Estimated intangible asset amortization expense for each of the next five years approximates $336 million in 2016, $357 million in 2017, $356 million in 2018, $342 million in 2019, and $302 million in 2020.

- 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.

+ References + Details