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Goodwill and Intangible Assets (Tables)
6 Months Ended
Jun. 30, 2018
Goodwill and Intangible Assets  
Goodwill

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2017

 

Acquisition

 

Divestiture

 

Translation

 

June 30, 2018

 

(Millions)

    

Balance

    

activity

    

activity

    

and other

    

Balance

 

Industrial

 

$

2,678

 

$

 —

 

$

(4)

 

$

(44)

 

$

2,630

 

Safety and Graphics

 

 

4,419

 

 

(16)

 

 

(8)

 

 

(57)

 

 

4,338

 

Health Care

 

 

1,682

 

 

 —

 

 

 —

 

 

(19)

 

 

1,663

 

Electronics and Energy

 

 

1,524

 

 

 —

 

 

(247)

 

 

(10)

 

 

1,267

 

Consumer

 

 

210

 

 

 —

 

 

 —

 

 

(1)

 

 

209

 

Total Company

 

$

10,513

 

$

(16)

 

$

(259)

 

$

(131)

 

$

10,107

 

 

Acquired Intangible Assets

 

 

 

 

 

 

 

 

 

    

June 30,

    

December 31,

 

(Millions)

    

2018

    

2017

 

Customer related intangible assets

 

$

2,302

 

$

2,332

 

Patents

 

 

554

 

 

561

 

Other technology-based intangible assets

 

 

578

 

 

583

 

Definite-lived tradenames

 

 

676

 

 

678

 

Other amortizable intangible assets

 

 

204

 

 

207

 

Total gross carrying amount

 

$

4,314

 

$

4,361

 

 

 

 

 

 

 

 

 

Accumulated amortization — customer related

 

 

(931)

 

 

(874)

 

Accumulated amortization — patents

 

 

(491)

 

 

(489)

 

Accumulated amortization — other technology based

 

 

(312)

 

 

(292)

 

Accumulated amortization — definite-lived tradenames

 

 

(272)

 

 

(256)

 

Accumulated amortization — other

 

 

(164)

 

 

(162)

 

Total accumulated amortization

 

$

(2,170)

 

$

(2,073)

 

 

 

 

 

 

 

 

 

Total finite-lived intangible assets — net

 

$

2,144

 

$

2,288

 

 

 

 

 

 

 

 

 

Non-amortizable intangible assets (primarily tradenames)

 

 

643

 

 

648

 

Total intangible assets — net

 

$

2,787

 

$

2,936

 

 

Schedule of amortization expense for acquired intangible assets

Amortization expense for acquired intangible assets for the three and six months ended June 30, 2018 and 2017 follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

Three months ended 

    

Six months ended 

 

 

 

June 30,

 

June 30,

 

(Millions)

    

2018

    

2017

    

2018

 

2017

 

Amortization expense

 

$

63

 

$

47

 

$

127

 

$

111

 

 

Schedule of expected amortization expense for acquired amortizable intangible assets

Expected amortization expense for acquired amortizable intangible assets recorded as of June 30, 2018:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Remainder of

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

After

 

(Millions)

 

2018

 

2019

 

2020

 

2021

 

2022

 

2023

 

2023

 

Amortization expense

 

$

123

 

$

241

 

$

229

 

$

220

 

$

206

 

$

175

 

$

950