Intangible Assets and Goodwill (Tables)

6 Months Ended

Jun. 30, 2012

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible assets

Intangible assets are comprised of the following:

		June 30, 2012
(Millions of dollars)	Weighted Amortizable Life (Years)	Gross Carrying Amount		Accumulated Amortization			Net
Customer relationships	15	$	2,822	$	(272	)	$	2,550
Intellectual property	11	1,787		(317		)	1,470
Other	10	316		(118		)	198
Total finite-lived intangible assets	14	4,925		(707		)	4,218
Indefinite-lived intangible assets - In-process research & development		18		—			18
Total intangible assets		$	4,943	$	(707	)	$	4,236

		December 31, 2011
(Millions of dollars)	Weighted Amortizable Life (Years)	Gross Carrying Amount		Accumulated Amortization			Net
Customer relationships	15	$	2,811	$	(213	)	$	2,598
Intellectual property	11	1,794		(244		)	1,550
Other	11	299		(97		)	202
Total finite-lived intangible assets	13	4,904		(554		)	4,350
Indefinite-lived intangible assets - In-process research & development		18		—			18
Total intangible assets		$	4,922	$	(554	)	$	4,368

Expected amortization expense related to intangible assets

Amortization expense related to intangible assets is expected to be:

(Millions of dollars)
2012	2013	2014	2015	2016	Thereafter
$393	$393	$386	$380	$371	$2,506

Goodwill

The changes in the carrying amount of the goodwill by reportable segment for the six months ended June 30, 2012 were as follows: 

(Millions of dollars)
	Construction Industries			Resource Industries			Power Systems			Other		Consolidated Total
Balance at December 31, 2011	$	378		$	4,099		$	2,486		$	117	$	7,080
Business acquisitions 1	16			467			—			—		483
Held for sale and business divestitures 2	—			(152		)	—			—		(152		)
Other adjustments 3	(5		)	(59		)	(27		)	—		(91		)
Balance at June 30, 2012	$	389		$	4,355		$	2,459		$	117	$	7,320

¹See Note 18 for additional details.

² See Note 19 for additional details.

³Other adjustments are comprised primarily of foreign currency