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Intangible assets and goodwill
 12 Months Ended
Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible assets and goodwill Intangible assets and goodwill

A.
Intangible assets
 
Intangible assets are comprised of the following:
 
 
 
 
 
December 31, 2019
(Millions of dollars)
 
Weighted
Amortizable
Life (Years)
 
Gross
Carrying
Amount
 
Accumulated
Amortization
 
Net
Customer relationships
 
15
 
$
2,450

 
$
(1,406
)
 
$
1,044

Intellectual property
 
12
 
1,510

 
(1,055
)
 
455

Other
 
13
 
191

 
(125
)
 
66

Total finite-lived intangible assets
 
14
 
$
4,151

 
$
(2,586
)
 
$
1,565

 
 
 
 
 
 
 
 
 
 
 
 
 
December 31, 2018
 
 
Weighted
Amortizable
Life (Years)
 
Gross
Carrying
Amount
 
Accumulated
Amortization
 
Net
Customer relationships
 
15
 
$
2,463

 
$
(1,249
)
 
$
1,214

Intellectual property
 
11
 
1,557

 
(965
)
 
592

Other
 
13
 
199

 
(108
)
 
91

Total finite-lived intangible assets
 
14
 
$
4,219

 
$
(2,322
)
 
$
1,897

 
 
 
 
 
 
 
 
 

 
During 2018, we acquired finite-lived intangible assets of $112 million and $6 million due to the purchase of ECM S.p.A. and Downer Freight Rail, respectively. See Note 24 for details on these acquisitions.

Finite-lived intangible assets are amortized over their estimated useful lives and tested for impairment if events or changes in circumstances indicate that the asset may be impaired.

Amortization expense related to intangible assets was $324 million, $331 million and $323 million for 2019, 2018 and 2017, respectively.

As of December 31, 2019, amortization expense related to intangible assets is expected to be: 

(Millions of dollars)
2020
 
2021
 
2022
 
2023
 
2024
 
Thereafter
$310
 
$292
 
$273
 
$215
 
$158
 
$317
 
 
 
 
 
 
 
 
 
 
 

 
B.
Goodwill
 
In 2018, we acquired net assets with related goodwill of $127 million in the Energy & Transportation segment. We recorded goodwill of $109 million related to the acquisition of ECM S.p.A. and $18 million related to the acquisition of Downer Freight Rail. See Note 24 for details on these acquisitions.

There were no goodwill impairments during 2019, 2018 or 2017.
The changes in carrying amount of goodwill by reportable segment for the years ended December 31, 2019 and 2018 were as follows:

(Millions of dollars)
 
December 31, 2018
 
Acquisitions
 
Other Adjustments 1
 
December 31, 2019
Construction Industries
 
 
 
 
 
 
 
 
Goodwill
 
$
304

 
$
—

 
$
2

 
$
306

Impairments
 
(22
)
 
—

 
—

 
(22
)
Net goodwill
 
282

 
—

 
2

 
284

Resource Industries
 
 
 
 
 
 
 
 
Goodwill
 
4,172

 
—

 
(16
)
 
4,156

Impairments
 
(1,175
)
 
—

 
—

 
(1,175
)
Net goodwill
 
2,997

 
—

 
(16
)
 
2,981

Energy & Transportation
 
 
 
 
 
 
 
 
Goodwill
 
2,882

 
—

 
(7
)
 
2,875

All Other 2
 
 
 
 
 
 
 
 
Goodwill
 
56

 
—

 
—

 
56

Consolidated total
 
 
 
 
 
 
 
 
Goodwill
 
7,414

 
—

 
(21
)
 
7,393

Impairments
 
(1,197
)
 
—

 
—

 
(1,197
)
Net goodwill
 
$
6,217

 
$
—

 
$
(21
)
 
$
6,196

 
 
 
 
 
 
 
 
 
 
 
December 31, 2017
 
Acquisitions
 
Other Adjustments 1
 
December 31, 2018
Construction Industries
 
 
 
 
 
 
 
 
Goodwill
 
$
305

 
$
—

 
$
(1
)
 
$
304

Impairments
 
(22
)
 
—

 
—

 
(22
)
Net goodwill
 
283

 
—

 
(1
)
 
282

Resource Industries
 
 
 
 
 
 
 
 
Goodwill
 
4,232

 
—

 
(60
)
 
4,172

Impairments
 
(1,175
)
 
—

 
—

 
(1,175
)
Net goodwill
 
3,057

 
—

 
(60
)
 
2,997

Energy & Transportation
 
 
 
 
 
 
 
 
Goodwill
 
2,806

 
127

 
(51
)
 
2,882

All Other 2
 
 
 
 
 
 
 
 
Goodwill
 
54

 
—

 
2

 
56

Consolidated total
 
 
 
 
 
 
 
 
Goodwill
 
7,397

 
127

 
(110
)
 
7,414

Impairments
 
(1,197
)
 
—

 
—

 
(1,197
)
Net goodwill
 
$
6,200

 
$
127

 
$
(110
)
 
$
6,217


1 Other adjustments are comprised primarily of foreign currency translation.
2 Includes All Other operating segment (See Note 23).