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Intangible Assets
 12 Months Ended
Dec. 31, 2017
Goodwill And Intangible Assets Disclosure [Abstract]  
Intangible Assets

9. Intangible Assets

A summary of intangible assets follows:

 

 

(Stated in millions)

 

 

 

 

 

2017

 

 

2016

 

 

Gross

 

 

Accumulated

 

 

Net Book

 

 

Gross

 

 

Accumulated

 

 

Net Book

 

 

Book Value

 

 

Amortization

 

 

Value

 

 

Book Value

 

 

Amortization

 

 

Value

 

Customer Relationships

$

4,832

 

 

$

1,020

 

 

$

3,812

 

 

$

4,938

 

 

$

865

 

 

$

4,073

 

Technology/Technical Know-How

 

3,634

 

 

 

1,078

 

 

 

2,556

 

 

 

3,655

 

 

 

835

 

 

 

2,820

 

Tradenames

 

2,806

 

 

 

533

 

 

 

2,273

 

 

 

2,847

 

 

 

458

 

 

 

2,389

 

Other

 

1,295

 

 

 

582

 

 

 

713

 

 

 

1,122

 

 

 

549

 

 

 

573

 

 

$

12,567

 

 

$

3,213

 

 

$

9,354

 

 

$

12,562

 

 

$

2,707

 

 

$

9,855

 

 

Customer relationships are generally amortized over periods ranging from 18 to 28 years, technology/technical know-how are generally amortized over periods ranging from 10 to 18 years, and tradenames are generally amortized over periods ranging from 15 to 30 years.

Amortization expense was $663 million in 2017, $567 million in 2016 and $354 million in 2015.

Based on the carrying value of intangible assets at December 31, 2017, amortization expense for the subsequent five years is estimated to be as follows: 2018: $677 million, 2019: $673 million, 2020: $638 million, 2021: $616 million and 2022: $608 million.