Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Changes in the Carrying Amount of Goodwill

The components of, and changes in, the carrying amount of goodwill follow:

(MILLIONS OF DOLLARS)	U.S.		International		Total
Balance, December 31, 2019	$	1,367	$	1,225	$	2,592
Additions / Adjustments(a)	58		17		75
Other(b)	—		27		27
Balance, December 31, 2020	$	1,425	$	1,269	$	2,694
Adjustments	(1)		4		3
Other(b)	—		(15)		(15)
Balance, December 31, 2021	$	1,424	$	1,258	$	2,682

(a)     For 2020, primarily relates to the acquisitions of Performance Livestock Analytics, Fish Vet Group and Virtual Recall. See Note 5. Acquisitions and Divestitures.

(b)     Includes adjustments for foreign currency translation.

Components of Identifiable Intangible Assets

The components of identifiable intangible assets follow:

	As of December 31, 2021						As of December 31, 2020
					Identifiable						Identifiable
	Gross				Intangible Assets,		Gross				Intangible Assets,
	Carrying		Accumulated		Less Accumulated		Carrying		Accumulated		Less Accumulated
(MILLIONS OF DOLLARS)	Amount		Amortization		Amortization		Amount		Amortization		Amortization
Finite-lived intangible assets:
Developed technology rights	$	1,933	$	(949)	$	984	$	1,968	$	(809)	$	1,159
Brands and tradenames	426		(260)		166		427		(243)		184
Other	473		(335)		138		474		(306)		168
Total finite-lived intangible assets	2,832		(1,544)		1,288		2,869		(1,358)		1,511
Indefinite-lived intangible assets:
Brands and tradenames	91		—		91		104		—		104
In-process research and development	88		—		88		88		—		88
Product rights	7		—		7		7		—		7
Total indefinite-lived intangible assets	186		—		186		199		—		199
Identifiable intangible assets	$	3,018	$	(1,544)	$	1,474	$	3,068	$	(1,358)	$	1,710

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

The annual amortization expense expected for the years 2022 through 2026 is as follows:

(MILLIONS OF DOLLARS)	2022		2023		2024		2025		2026
Amortization expense	$	190	$	181	$	162	$	148	$	139

Schedule of Acquired Finite-Lived Intangible Assets by Major Class [Table Text Block]

The components of identifiable intangible assets follow:

	As of December 31, 2021						As of December 31, 2020
					Identifiable						Identifiable
	Gross				Intangible Assets,		Gross				Intangible Assets,
	Carrying		Accumulated		Less Accumulated		Carrying		Accumulated		Less Accumulated
(MILLIONS OF DOLLARS)	Amount		Amortization		Amortization		Amount		Amortization		Amortization
Finite-lived intangible assets:
Developed technology rights	$	1,933	$	(949)	$	984	$	1,968	$	(809)	$	1,159
Brands and tradenames	426		(260)		166		427		(243)		184
Other	473		(335)		138		474		(306)		168
Total finite-lived intangible assets	2,832		(1,544)		1,288		2,869		(1,358)		1,511
Indefinite-lived intangible assets:
Brands and tradenames	91		—		91		104		—		104
In-process research and development	88		—		88		88		—		88
Product rights	7		—		7		7		—		7
Total indefinite-lived intangible assets	186		—		186		199		—		199
Identifiable intangible assets	$	3,018	$	(1,544)	$	1,474	$	3,068	$	(1,358)	$	1,710