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Goodwill and Intangible Assets (Tables)
9 Months Ended
Sep. 30, 2016
Goodwill and Intangible Assets  
Goodwill

Goodwill

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2015

 

Acquisition

 

Translation

 

September 30, 2016

 

(Millions)

    

Balance

    

activity

    

and other

    

Balance

 

Industrial

 

$

2,573

 

$

1

 

$

68

 

$

2,642

 

Safety and Graphics

 

 

3,342

 

 

43

 

 

10

 

 

3,395

 

Health Care

 

 

1,624

 

 

12

 

 

20

 

 

1,656

 

Electronics and Energy

 

 

1,510

 

 

 —

 

 

16

 

 

1,526

 

Consumer

 

 

200

 

 

 —

 

 

11

 

 

211

 

Total Company

 

$

9,249

 

$

56

 

$

125

 

$

9,430

 

 

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 September 30, 2016, and December 31, 2015, follow:

 

 

 

 

 

 

 

 

 

 

    

September 30,

    

December 31,

 

(Millions)

    

2016

    

2015

 

Customer related intangible assets

 

$

1,977

 

$

1,973

 

Patents

 

 

608

 

 

616

 

Other technology-based intangible assets

 

 

529

 

 

525

 

Definite-lived tradenames

 

 

425

 

 

421

 

Other amortizable intangible assets

 

 

214

 

 

216

 

Total gross carrying amount

 

$

3,753

 

$

3,751

 

 

 

 

 

 

 

 

 

Accumulated amortization — customer related

 

 

(773)

 

 

(668)

 

Accumulated amortization — patents

 

 

(496)

 

 

(481)

 

Accumulated amortization — other technology based

 

 

(293)

 

 

(252)

 

Accumulated amortization — definite-lived tradenames

 

 

(235)

 

 

(215)

 

Accumulated amortization — other

 

 

(172)

 

 

(169)

 

Total accumulated amortization

 

$

(1,969)

 

$

(1,785)

 

 

 

 

 

 

 

 

 

Total finite-lived intangible assets — net

 

$

1,784

 

$

1,966

 

 

 

 

 

 

 

 

 

Non-amortizable intangible assets (primarily tradenames)

 

 

638

 

 

635

 

Total intangible assets — net

 

$

2,422

 

$

2,601

 

 

Schedule of amortization expense for acquired intangible assets

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

Three months ended 

    

Nine months ended 

 

 

 

 

September 30,

 

September 30,

 

 

(Millions)

    

2016

    

2015

    

2016

 

2015

 

 

Amortization expense

 

$

63

 

$

66

 

$

195

 

$

169

 

 

 

Schedule of expected amortization expense for acquired amortizable intangible assets

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

Remainder

    

    

 

    

    

 

    

    

 

    

    

 

    

    

 

    

    

 

 

 

 

of

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

After

 

(Millions)

 

2016

 

2017

 

2018

 

2019

 

2020

 

2021

 

2021

 

Amortization expense

 

$

62

 

$

228

 

$

205

 

$

192

 

$

182

 

$

167

 

$

748