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v3.25.1

Intangible Assets and Goodwill (Tables) | 3 Months Ended
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Mar. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract] |
Summary of Intangible assets | Intangible assets were comprised of the following:
|  |  | March 31, 2025
(Millions of dollars) |  |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net
Customer relationships |  |  | $ | 2,207 |  |  | $ | (1,971) |  |  | $ | 236 |
Intellectual property |  |  | 492 |  |  | (399) |  |  | 93 |
Other |  |  | 117 |  |  | (85) |  |  | 32 |
Total finite-lived intangible assets |  |  | $ | 2,816 |  |  | $ | (2,455) |  |  | $ | 361 |
|  |  | December 31, 2024
|  |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net
Customer relationships |  |  | $ | 2,220 |  |  | $ | (1,950) |  |  | $ | 270 |
Intellectual property |  |  | 496 |  |  | (401) |  |  | 95 |
Other |  |  | 117 |  |  | (83) |  |  | 34 |
Total finite-lived intangible assets |  |  | $ | 2,833 |  |  | $ | (2,434) |  |  | $ | 399 |
Summary of expected amortization expense related to intangible assets | Amortization expense related to intangible assets is expected to be:
(Millions of dollars)
Remaining Nine Months of 2025 |  | 2026 |  | 2027 |  | 2028 |  | 2029 |  | Thereafter
$123 |  | $97 |  | $34 |  | $27 |  | $24 |  | $56
Summary of Goodwill acquired | The changes in carrying amount of goodwill by reportable segment for the three months ended March 31, 2025 were as follows:
(Millions of dollars) |  | December 31, 2024 |  |  |  |  |  | Other Adjustments 1 |  | March 31, 2025
Construction Industries |  |  |  |  |  |  |  |  |  |
Goodwill |  | $ | 261 |  |  |  |  |  |  | $ | 6 |  |  | $ | 267 |
Impairments |  | (22) |  |  |  |  |  |  | — |  |  | (22) |
Net goodwill |  | 239 |  |  |  |  |  |  | 6 |  |  | 245 |
Resource Industries |  |  |  |  |  |  |  |  |  |
Goodwill |  | 4,124 |  |  |  |  |  |  | 9 |  |  | 4,133 |
Impairments |  | (1,175) |  |  |  |  |  |  | — |  |  | (1,175) |
Net goodwill |  | 2,949 |  |  |  |  |  |  | 9 |  |  | 2,958 |
Energy & Transportation |  |  |  |  |  |  |  |  |  |
Goodwill |  | 2,939 |  |  |  |  |  |  | 12 |  |  | 2,951 |
Impairments |  | (925) |  |  |  |  |  |  | — |  |  | (925) |
Net goodwill |  | 2,014 |  |  |  |  |  |  | 12 |  |  | 2,026 |
All Other 2 |  |  |  |  |  |  |  |  |  |
Goodwill |  | 39 |  |  |  |  |  |  | 2 |  |  | 41 |
Consolidated total |  |  |  |  |  |  |  |  |  |
Goodwill |  | 7,363 |  |  |  |  |  |  | 29 |  |  | 7,392 |
Impairments |  | (2,122) |  |  |  |  |  |  | — |  |  | (2,122) |
Net goodwill |  | $ | 5,241 |  |  |  |  |  |  | $ | 29 |  |  | $ | 5,270 |
1 Other adjustments are comprised primarily of foreign currency translation. 2 Includes All Other Segment (See Note 16).

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- Definition Tabular disclosure of assets, excluding financial assets and goodwill, lacking physical substance with a finite life, by either major class or business segment. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Section 55 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482640/350-30-55-40 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482665/350-30-50-2 + Details
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