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Goodwill and Intangible Assets (Tables)
6 Months Ended
Jun. 30, 2016
Goodwill and Intangible Assets  
Goodwill

Goodwill

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2015

 

Acquisition

 

Translation

 

June 30, 2016

 

(Millions)

    

Balance

    

activity

    

and other

    

Balance

 

Industrial

 

$

2,573

 

$

1

 

$

49

 

$

2,623

 

Safety and Graphics

 

 

3,342

 

 

2

 

 

19

 

 

3,363

 

Health Care

 

 

1,624

 

 

 —

 

 

14

 

 

1,638

 

Electronics and Energy

 

 

1,510

 

 

 —

 

 

13

 

 

1,523

 

Consumer

 

 

200

 

 

 —

 

 

9

 

 

209

 

Total Company

 

$

9,249

 

$

3

 

$

104

 

$

9,356

 

 

Acquired Intangible Assets

Acquired Intangible Assets

 

The carrying amount and accumulated amortization of acquired finite-lived intangible assets, in addition to the balance of non-amortizable intangible assets, as of June 30, 2016, and December 31, 2015, follow:

 

 

 

 

 

 

 

 

 

 

    

June 30,

    

December 31,

 

(Millions)

    

2016

    

2015

 

Customer related intangible assets

 

$

1,974

 

$

1,973

 

Patents

 

 

607

 

 

616

 

Other technology-based intangible assets

 

 

525

 

 

525

 

Definite-lived tradenames

 

 

424

 

 

421

 

Other amortizable intangible assets

 

 

214

 

 

216

 

Total gross carrying amount

 

$

3,744

 

$

3,751

 

 

 

 

 

 

 

 

 

Accumulated amortization — customer related

 

 

(737)

 

 

(668)

 

Accumulated amortization — patents

 

 

(489)

 

 

(481)

 

Accumulated amortization — other technology based

 

 

(279)

 

 

(252)

 

Accumulated amortization — definite-lived tradenames

 

 

(228)

 

 

(215)

 

Accumulated amortization — other

 

 

(171)

 

 

(169)

 

Total accumulated amortization

 

$

(1,904)

 

$

(1,785)

 

 

 

 

 

 

 

 

 

Total finite-lived intangible assets — net

 

$

1,840

 

$

1,966

 

 

 

 

 

 

 

 

 

Non-amortizable intangible assets (primarily tradenames)

 

 

637

 

 

635

 

Total intangible assets — net

 

$

2,477

 

$

2,601

 

 

Schedule of amortization expense for acquired intangible assets

Amortization expense for acquired intangible assets for the three and six months ended June 30, 2016 and 2015 follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

Three months ended 

    

Six months ended 

 

 

 

 

June 30,

 

June 30,

 

 

(Millions)

    

2016

    

2015

    

2016

 

2015

 

 

Amortization expense

 

$

66

 

$

50

 

$

132

 

$

103

 

 

 

Schedule of expected amortization expense for acquired amortizable intangible assets

Expected amortization expense for acquired amortizable intangible assets recorded as of June 30, 2016:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

Remainder

    

    

 

    

    

 

    

    

 

    

    

 

    

    

 

    

    

 

 

 

 

of

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

After

 

(Millions)

 

2016

 

2017

 

2018

 

2019

 

2020

 

2021

 

2021

 

Amortization expense

 

$

125

 

$

226

 

$

204

 

$

192

 

$

182

 

$

166

 

$

745