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Other Intangible Assets | 12 Months Ended
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Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
Other Intangible Assets | OTHER INTANGIBLE ASSETS The following is a summary of Linde’s other intangible assets at December 31, 2023 and 2022:
(Millions of dollars) For the year ended December 31, 2023 | Customer Relationships |  | Brands/Tradenames |  | Other Intangible Assets |  | Total
Cost: |  |  |  |  |  |  |
Balance, December 31, 2022 | $ | 11,062 |  |  | $ | 2,565 |  |  | $ | 1,697 |  |  | $ | 15,324 |
Additions | 258 |  |  | 6 |  |  | 50 |  |  | 314 |
Foreign currency translation | 185 |  |  | 38 |  |  | 41 |  |  | 264 |
Disposals | (3) |  |  | — |  |  | (20) |  |  | (23) |
Other * | (23) |  |  | — |  |  | 145 |  |  | 122 |
Balance, December 31, 2023 | 11,479 |  |  | 2,609 |  |  | 1,913 |  |  | 16,001 |
Less: accumulated amortization: |  |  |  |  |  |  |
Balance, December 31, 2022 | (1,841) |  |  | (196) |  |  | (867) |  |  | (2,904) |
Amortization expense (Note 7) | (423) |  |  | (36) |  |  | (91) |  |  | (550) |
Foreign currency translation | (36) |  |  | (1) |  |  | (24) |  |  | (61) |
Disposals | — |  |  | — |  |  | 21 |  |  | 21 |
Other * | 30 |  |  | — |  |  | (138) |  |  | (108) |
Balance, December 31, 2023 | (2,270) |  |  | (233) |  |  | (1,099) |  |  | (3,602) |
Net balance at December 31, 2023 | $ | 9,209 |  |  | $ | 2,376 |  |  | $ | 814 |  |  | $ | 12,399 |
(Millions of dollars) For the year ended December 31, 2022 | Customer Relationships |  | Brands/Tradenames |  | Other Intangible Assets |  | Total
Cost: |  |  |  |  |  |  |
Balance, December 31, 2021 | $ | 11,859 |  |  | $ | 2,685 |  |  | $ | 1,629 |  |  | $ | 16,173 |
Additions | 19 |  |  | — |  |  | 53 |  |  | 72 |
Foreign currency translation | (660) |  |  | (120) |  |  | (56) |  |  | (836) |
Disposals (Note 2) | (140) |  |  | — |  |  | (45) |  |  | (185) |
Other * | (16) |  |  | — |  |  | 116 |  |  | 100 |
Balance, December 31, 2022 | 11,062 |  |  | 2,565 |  |  | 1,697 |  |  | 15,324 |
Less: accumulated amortization: |  |  |  |  |  |  |
Balance, December 31, 2021 | (1,541) |  |  | (159) |  |  | (671) |  |  | (2,371) |
Amortization expense (Note 7) | (419) |  |  | (42) |  |  | (110) |  |  | (571) |
Foreign currency translation | 80 |  |  | 5 |  |  | 13 |  |  | 98 |
Disposals (Note 2) | 34 |  |  | — |  |  | 16 |  |  | 50 |
Other * | 5 |  |  | — |  |  | (115) |  |  | (110) |
Balance, December 31, 2022 | (1,841) |  |  | (196) |  |  | (867) |  |  | (2,904) |
Net balance at December 31, 2022 | $ | 9,221 |  |  | $ | 2,369 |  |  | $ | 830 |  |  | $ | 12,420 |
*Other primarily relates to the write-off of fully amortized assets and reclassifications. There are no expected residual values related to these intangible assets. Amortization expense for the years ended December 31, 2023, 2022 and 2021 was $550 million, $571 million and $723 million, respectively. The remaining weighted-average amortization period for intangible assets is approximately 24 years. Total estimated annual amortization expense related to finite-lived intangibles is as follows:
(Millions of dollars) |
2024 | $ | 578 |
2025 | 528 |
2026 | 516 |
2027 | 505 |
2028 | 492 |
Thereafter | 8,035 |
Total amortization related to finite-lived intangible assets | 10,654 |
Indefinite-lived intangible assets at December 31, 2023 | 1,745 |
Net intangible assets at December 31, 2023 | $ | 12,399 |

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- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//350-30/tableOfContent + Details
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