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Goodwill and Intangible Assets (Tables) | 3 Months Ended
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Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of Goodwill | The change in the carrying amount of goodwill by business segment was as follows:
(Millions) |  | Safety and Industrial |  | Transportation and Electronics |  | Health Care |  | Consumer |  | Total Company
Balance as of December 31, 2023 |  | $ | 4,542 |  | $ | 1,512 |  | $ | 6,603 |  | $ | 270 |  | $ | 12,927
Translation and other |  | (33) |  |  | (7) |  |  | (71) |  |  | (7) |  |  | (118) |
Balance as of March 31, 2024 |  | $ | 4,509 |  | $ | 1,505 |  | $ | 6,532 |  | $ | 263 |  | $ | 12,809
Schedule of 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 follow:
(Millions) |  |  | March 31, 2024 |  | December 31, 2023
Customer related |  |  | $ | 4,061 |  |  | $ | 4,073 |
Patents |  |  | 419 |  |  | 420 |
Other technology-based |  |  | 2,075 |  |  | 2,077 |
Definite-lived tradenames |  |  | 1,165 |  |  | 1,166 |
Other |  |  | 75 |  |  | 78 |
Total gross carrying amount |  |  | 7,795 |  |  | 7,814 |
Accumulated amortization — customer related |  |  | (2,009) |  |  | (1,966) |
Accumulated amortization — patents |  |  | (418) |  |  | (419) |
Accumulated amortization — other technology-based |  |  | (1,222) |  |  | (1,178) |
Accumulated amortization — definite-lived tradenames |  |  | (591) |  |  | (575) |
Accumulated amortization — other |  |  | (56) |  |  | (57) |
Total accumulated amortization |  |  | (4,296) |  |  | (4,195) |
Total finite-lived intangible assets — net |  |  | 3,499 |  |  | 3,619 |
Indefinite lived intangible assets (primarily tradenames) |  |  | 606 |  |  | 607 |
Total intangible assets — net |  |  | $ | 4,105 |  |  | $ | 4,226 |
Schedule of Amortization Expense for Acquired Intangible Assets | Amortization expense follows:
|  | Three months ended March 31, |  |  |
(Millions) |  | 2024 |  | 2023 |  |  |  |  |  |
Amortization expense |  | $ | 114 |  |  | $ | 122 |  |  |  |  |  |  |
Schedule of Expected Amortization Expense for Acquired Amortizable Intangible Assets | Expected amortization expense for acquired amortizable intangible assets recorded as of March 31, 2024 follows:
(Millions) |  | Remainder of 2024 |  | 2025 |  | 2026 |  | 2027 |  | 2028 |  | 2029 |  | After 2029
Amortization expense |  | $ | 339 |  |  | $ | 422 |  |  | $ | 417 |  |  | $ | 393 |  |  | $ | 366 |  |  | $ | 329 |  |  | $ | 1,233 |

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