Intangible Assets and Goodwill (Tables)

9 Months Ended

Sep. 30, 2016

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible assets

Intangible assets are comprised of the following:

		September 30, 2016
(Millions of dollars)	Weighted Amortizable Life (Years)	Gross Carrying Amount		Accumulated Amortization			Net
Customer relationships	15	$	2,424	$	(915	)	$	1,509
Intellectual property	11	1,515		(681		)	834
Other	14	184		(74		)	110
Total finite-lived intangible assets	14	$	4,123	$	(1,670	)	$	2,453

		December 31, 2015
	Weighted Amortizable Life (Years)	Gross Carrying Amount		Accumulated Amortization			Net
Customer relationships	15	$	2,489	$	(809	)	$	1,680
Intellectual property	11	1,660		(626		)	1,034
Other	12	174		(67		)	107
Total finite-lived intangible assets	14	$	4,323	$	(1,502	)	$	2,821

Expected amortization expense related to intangible assets

Amortization expense related to intangible assets is expected to be:

(Millions of dollars)
Remaining Three Months of 2016	2017	2018	2019	2020	Thereafter
$79	$316	$308	$306	$295	$1,149

Goodwill acquired

The changes in carrying amount of goodwill by reportable segment for the nine months ended September 30, 2016 were as follows: 

(Millions of dollars)	December 31, 2015			Acquisitions		Other Adjustments 1		September 30, 2016
Construction Industries
Goodwill	$	285		$	—	$	30	$	315
Impairments	(22		)	—		—		(22		)
Net goodwill	263			—		30		293
Resource Industries
Goodwill	4,145			—		36		4,181
Impairments	(580		)	—		—		(580		)
Net goodwill	3,565			—		36		3,601
Energy & Transportation
Goodwill	2,738			26		8		2,772
All Other 2
Goodwill	49			—		10		59
Consolidated total
Goodwill	7,217			26		84		7,327
Impairments	(602		)	—		—		(602		)
Net goodwill	$	6,615		$	26	$	84	$	6,725

¹ Other adjustments are comprised primarily of foreign currency translation.

² Includes All Other operating segments (See Note 15).