Intangible Assets and Goodwill (Tables)

6 Months Ended

Jun. 30, 2017

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible assets

Intangible assets are comprised of the following:

		June 30, 2017
(Millions of dollars)	Weighted Amortizable Life (Years)	Gross Carrying Amount		Accumulated Amortization			Net
Customer relationships	15	$	2,407	$	(1,026	)	$	1,381
Intellectual property	11	1,515		(769		)	746
Other	13	188		(83		)	105
Total finite-lived intangible assets	14	$	4,110	$	(1,878	)	$	2,232

		December 31, 2016
	Weighted Amortizable Life (Years)	Gross Carrying Amount		Accumulated Amortization			Net
Customer relationships	15	$	2,378	$	(934	)	$	1,444
Intellectual property	11	1,496		(706		)	790
Other	14	192		(77		)	115
Total finite-lived intangible assets	14	$	4,066	$	(1,717	)	$	2,349

Expected amortization expense related to intangible assets

Amortization expense related to intangible assets is expected to be:

(Millions of dollars)
Remaining Six Months of 2017	2018	2019	2020	2021	Thereafter
$160	$315	$310	$298	$281	$868

Goodwill acquired

The changes in carrying amount of goodwill by reportable segment for the six months ended June 30, 2017 were as follows: 

(Millions of dollars)	December 31, 2016			Other Adjustments 1		June 30, 2017
Construction Industries
Goodwill	$	296		$	8	$	304
Impairments	(22		)	—		(22		)
Net goodwill	274			8		282
Resource Industries
Goodwill	4,110			78		4,188
Impairments	(1,175		)	—		(1,175		)
Net goodwill	2,935			78		3,013
Energy & Transportation
Goodwill	2,756			35		2,791
All Other 2
Goodwill	55			1		56
Consolidated total
Goodwill	7,217			122		7,339
Impairments	(1,197		)	—		(1,197		)
Net goodwill	$	6,020		$	122	$	6,142

¹ Other adjustments are comprised primarily of foreign currency translation.

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