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Goodwill and Intangible Assets (Tables)
12 Months Ended
Dec. 31, 2018
Goodwill and Intangible Assets  
Goodwill

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(Millions)

 

Industrial

 

Safety and Graphics

 

Health Care

 

Electronics and Energy

 

Consumer

 

Total Company

 

Balance as of December 31, 2016

 

$

2,536

 

$

3,324

 

$

1,609

 

$

1,489

 

$

208

 

$

9,166

 

Acquisition activity

 

 

 —

 

 

1,296

 

 

 6

 

 

 —

 

 

 —

 

 

1,302

 

Divestiture activity

 

 

 —

 

 

(323)

 

 

 —

 

 

 —

 

 

 —

 

 

(323)

 

Translation and other

 

 

142

 

 

122

 

 

67

 

 

35

 

 

 2

 

 

368

 

Balance as of December 31, 2017

 

 

2,678

 

 

4,419

 

 

1,682

 

 

1,524

 

 

210

 

 

10,513

 

Acquisition activity

 

 

 —

 

 

 7

 

 

 —

 

 

 —

 

 

 —

 

 

 7

 

Divestiture activity

 

 

(4)

 

 

(8)

 

 

 —

 

 

(260)

 

 

 —

 

 

(272)

 

Translation and other

 

 

(60)

 

 

(93)

 

 

(28)

 

 

(14)

 

 

(2)

 

 

(197)

 

Balance as of December 31, 2018

 

$

2,614

 

$

4,325

 

$

1,654

 

$

1,250

 

$

208

 

$

10,051

 

 

Acquired Intangible Assets

 

 

 

 

 

 

 

 

 

    

December 31,

    

December 31,

 

(Millions)

    

2018

    

2017

 

Customer related intangible assets

 

$

2,291

 

$

2,332

 

Patents

 

 

542

 

 

561

 

Other technology-based intangible assets

 

 

576

 

 

583

 

Definite-lived tradenames

 

 

664

 

 

678

 

Other amortizable intangible assets

 

 

125

 

 

207

 

Total gross carrying amount

 

$

4,198

 

$

4,361

 

 

 

 

 

 

 

 

 

Accumulated amortization — customer related

 

 

(998)

 

 

(874)

 

Accumulated amortization — patents

 

 

(487)

 

 

(489)

 

Accumulated amortization — other technology based

 

 

(333)

 

 

(292)

 

Accumulated amortization — definite-lived tradenames

 

 

(276)

 

 

(256)

 

Accumulated amortization — other

 

 

(88)

 

 

(162)

 

Total accumulated amortization

 

$

(2,182)

 

$

(2,073)

 

 

 

 

 

 

 

 

 

Total finite-lived intangible assets — net

 

$

2,016

 

$

2,288

 

 

 

 

 

 

 

 

 

Non-amortizable intangible assets (primarily tradenames)

 

 

641

 

 

648

 

Total intangible assets — net

 

$

2,657

 

$

2,936

 

 

Schedule of amortization expense for acquired intangible assets

 

Amortization expense for the years ended December 31 follows:

 

 

 

 

 

 

 

 

 

 

 

 

(Millions)

    

2018

    

2017

    

2016

 

Amortization expense

 

$

249

 

$

238

 

$

262

 

 

Schedule of expected amortization expense for acquired amortizable intangible assets

Expected amortization expense for acquired amortizable intangible assets recorded as of December 31, 2018 follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

After

 

(Millions)

 

2019

 

2020

 

2021

 

2022

 

2023

 

2023

 

Amortization expense

 

$

240

 

$

228

 

$

219

 

$

205

 

$

174

 

$

950