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Goodwill and Intangible Assets (Tables)
3 Months Ended
Mar. 31, 2019
Goodwill and Intangible Assets  
Goodwill

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(Millions)

 

Industrial

 

Safety and Graphics

 

Health Care

 

Electronics and Energy

 

Consumer

 

Total Company

 

Balance as of December 31, 2018

 

 

2,614

 

 

4,325

 

 

1,654

 

 

1,250

 

 

208

 

 

10,051

 

Acquisition activity

 

 

 —

 

 

 —

 

 

580

 

 

 —

 

 

 —

 

 

580

 

Translation and other

 

 

(28)

 

 

(4)

 

 

(11)

 

 

(7)

 

 

30

 

 

(20)

 

Balance as of March 31, 2019

 

$

2,586

 

$

4,321

 

$

2,223

 

$

1,243

 

$

238

 

$

10,611

 

 

Acquired Intangible Assets

 

 

 

 

 

 

 

 

 

    

March 31,

    

December 31,

 

(Millions)

    

2019

    

2018

 

Customer related intangible assets

 

$

2,577

 

$

2,291

 

Patents

 

 

539

 

 

542

 

Other technology-based intangible assets

 

 

738

 

 

576

 

Definite-lived tradenames

 

 

674

 

 

664

 

Other amortizable intangible assets

 

 

125

 

 

125

 

Total gross carrying amount

 

$

4,653

 

$

4,198

 

 

 

 

 

 

 

 

 

Accumulated amortization — customer related

 

 

(1,034)

 

 

(998)

 

Accumulated amortization — patents

 

 

(489)

 

 

(487)

 

Accumulated amortization — other technology-based

 

 

(350)

 

 

(333)

 

Accumulated amortization — definite-lived tradenames

 

 

(284)

 

 

(276)

 

Accumulated amortization — other

 

 

(88)

 

 

(88)

 

Total accumulated amortization

 

$

(2,245)

 

$

(2,182)

 

 

 

 

 

 

 

 

 

Total finite-lived intangible assets — net

 

$

2,408

 

$

2,016

 

 

 

 

 

 

 

 

 

Non-amortizable intangible assets (primarily tradenames)

 

 

639

 

 

641

 

Total intangible assets — net

 

$

3,047

 

$

2,657

 

 

Schedule of amortization expense for acquired intangible assets

Amortization expense for the three months ended March 31, 2019 and 2018 follows:

 

 

 

 

 

 

 

 

 

 

    

Three months ended 

 

 

 

March 31,

 

(Millions)

    

2019

    

2018

 

Amortization expense

 

$

69

 

$

64

 

 

Schedule of expected amortization expense for acquired amortizable intangible assets

Expected amortization expense for acquired amortizable intangible assets recorded as of March 31, 2019:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Remainder of

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

After

 

(Millions)

 

2019

 

2020

 

2021

 

2022

 

2023

 

2024

 

2024

 

Amortization expense

 

$

215

 

$

276

 

$

267

 

$

252

 

$

222

 

$

196

 

$

980