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Goodwill and Intangible Assets (Tables)
6 Months Ended
Jun. 30, 2017
Goodwill and Intangible Assets  
Goodwill

Goodwill

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2016

 

Acquisition

 

Divestiture

 

Translation

 

June 30, 2017

 

(Millions)

    

Balance

    

activity

    

activity

    

and other

    

Balance

 

Industrial

 

$

2,536

 

$

 —

 

$

 —

 

$

93

 

$

2,629

 

Safety and Graphics

 

 

3,324

 

 

 —

 

 

(276)

 

 

54

 

 

3,102

 

Health Care

 

 

1,609

 

 

 —

 

 

 —

 

 

41

 

 

1,650

 

Electronics and Energy

 

 

1,489

 

 

 —

 

 

 —

 

 

26

 

 

1,515

 

Consumer

 

 

208

 

 

 —

 

 

 —

 

 

 1

 

 

209

 

Total Company

 

$

9,166

 

$

 —

 

$

(276)

 

$

215

 

$

9,105

 

 

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, 2017, and December 31, 2016, follow:

 

 

 

 

 

 

 

 

 

 

    

June 30,

    

December 31,

 

(Millions)

    

2017

    

2016

 

Customer related intangible assets

 

$

1,900

 

$

1,939

 

Patents

 

 

585

 

 

602

 

Other technology-based intangible assets

 

 

475

 

 

524

 

Definite-lived tradenames

 

 

392

 

 

420

 

Other amortizable intangible assets

 

 

209

 

 

211

 

Total gross carrying amount

 

$

3,561

 

$

3,696

 

 

 

 

 

 

 

 

 

Accumulated amortization — customer related

 

 

(818)

 

 

(797)

 

Accumulated amortization — patents

 

 

(494)

 

 

(497)

 

Accumulated amortization — other technology based

 

 

(284)

 

 

(302)

 

Accumulated amortization — definite-lived tradenames

 

 

(231)

 

 

(236)

 

Accumulated amortization — other

 

 

(173)

 

 

(173)

 

Total accumulated amortization

 

$

(2,000)

 

$

(2,005)

 

 

 

 

 

 

 

 

 

Total finite-lived intangible assets — net

 

$

1,561

 

$

1,691

 

 

 

 

 

 

 

 

 

Non-amortizable intangible assets (primarily tradenames)

 

 

640

 

 

629

 

Total intangible assets — net

 

$

2,201

 

$

2,320

 

 

Schedule of amortization expense for acquired intangible assets

Amortization expense for acquired intangible assets for the three and six months ended June 30, 2017 and 2016 follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

Three months ended 

    

Six months ended 

 

 

 

June 30,

 

June 30,

 

(Millions)

   

2017

   

2016

   

2017

 

2016

 

Amortization expense

 

$

47

 

$

66

 

$

111

 

$

132

 

 

Schedule of expected amortization expense for acquired amortizable intangible assets

Expected amortization expense for acquired amortizable intangible assets recorded as of June 30, 2017:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

Remainder

    

    

 

    

    

 

    

    

 

    

    

 

    

    

 

    

    

 

 

 

 

of

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

After

 

(Millions)

 

2017

 

2018

 

2019

 

2020

 

2021

 

2022

 

2022

 

Amortization expense

 

$

118

 

$

190

 

$

181

 

$

172

 

$

160

 

$

147

 

$

593