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Intangible Assets and Goodwill (Tables)
 9 Months Ended
Sep. 30, 2013
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible assets
Intangible assets are comprised of the following:
 
 
 
 
September 30, 2013
(Millions of dollars)
Weighted
Amortizable
Life (Years)
 
Gross
Carrying
Amount
 
Accumulated
Amortization
 
Net
Customer relationships
15
 
$
2,685

 
$
(497
)
 
$
2,188

Intellectual property
11
 
1,816

 
(455
)
 
1,361

Other
10
 
282

 
(131
)
 
151

Total finite-lived intangible assets
13
 
4,783

 
(1,083
)
 
3,700

Indefinite-lived intangible assets - In-process research & development
 
 
18

 
—

 
18

Total intangible assets
 
 
$
4,801

 
$
(1,083
)
 
$
3,718

 
 
 
 
December 31, 2012
 
Weighted
Amortizable
Life (Years)
 
Gross
Carrying
Amount
 
Accumulated
Amortization
 
Net
Customer relationships
15
 
$
2,756

 
$
(377
)
 
$
2,379

Intellectual property
12
 
1,767

 
(342
)
 
1,425

Other
10
 
299

 
(105
)
 
194

Total finite-lived intangible assets
13
 
4,822

 
(824
)
 
3,998

Indefinite-lived intangible assets - In-process research & development
 
 
18

 
—

 
18

Total intangible assets
 
 
$
4,840

 
$
(824
)
 
$
4,016

 
 
 
 
 
 
 
 
Expected amortization expense related to intangible assets
Amortization expense related to intangible assets is expected to be:
(Millions of dollars)
2013
 
2014
 
2015
 
2016
 
2017
 
Thereafter
$369
 
$374
 
$372
 
$360
 
$358
 
$2,161
 
 
 
 
 
 
 
 
 
 
 
Goodwill
The changes in the carrying amount of the goodwill by reportable segment for the nine months ended September 30, 2013 were as follows: 
 
(Millions of dollars)
 
 
 
 
 
 
 
 
 
 
 
 
December 31,
2012
 
Acquisitions 1
 
Held for Sale and Business Divestitures 2
 
Other Adjustments 3
 
September 30,
2013
Construction Industries
 
 
 
 
 
 
 
 
 


Goodwill
 
$
382

 
$
—

 
$
—

 
$
(46
)
 
$
336

Resource Industries
 
 
 
 
 
 
 
 
 
 
Goodwill
 
4,559

 
—

 
(37
)
 
1

 
4,523

Impairments
 
(602
)
 
—

 
—

 
—

 
(602
)
Net goodwill
 
3,957

 
—

 
(37
)
 
1

 
3,921

Power Systems
 
 
 
 
 
 
 
 
 
 
Goodwill
 
2,486

 
109

 
(10
)
 
9

 
2,594

All Other 4
 
 
 
 
 
 
 
 
 
 
Goodwill
 
117

 
—

 
—

 
—

 
117

Consolidated total
 
 
 
 
 
 
 
 
 
 
Goodwill
 
7,544

 
109

 
(47
)
 
(36
)
 
7,570

Impairments
 
(602
)
 
—

 
—

 
—

 
(602
)
Net goodwill
 
$
6,942

 
$
109

 
$
(47
)
 
$
(36
)
 
$
6,968


1  See Note 19 for additional details.
2  See Note 20 for additional details.
3  Other adjustments are comprised primarily of foreign currency translation.
4  Includes All Other operating segment (See Note 15).