v3.26.1
Intangible Assets and Goodwill (Tables)
 6 Months Ended
Jun. 30, 2026
Intangible Asset, Goodwill and Other [Abstract]  
Summary of Intangible assets
Intangible assets were comprised of the following:
 
June 30, 2026
(Millions of dollars)
Gross
Carrying
Amount1
Accumulated
Amortization1
Net
Customer relationships$495 $(342)$153 
Intellectual property642 (402)240 
Other86 (59)27 
Total finite-lived intangible assets$1,223 $(803)$420 

December 31, 2025
Gross
Carrying
Amount		Accumulated
Amortization		Net
Customer relationships$2,012 $(1,877)$135 
Intellectual property479 (399)80 
Other117 (91)26 
Total finite-lived intangible assets$2,608 $(2,367)$241 
1 For the six months ended June 30, 2026, $1.6 billion of intangible assets were fully amortized and have been removed.
Summary of expected amortization expense related to intangible assets
Amortization expense related to intangible assets is expected to be:

(Millions of dollars)
Remaining Six Months of 20262027202820292030Thereafter
$36$67$59$55$53$150
Summary of Goodwill acquired
The changes in carrying amount of goodwill by reportable segment for the six months ended June 30, 2026 were as follows: 

​
(Millions of dollars)December 31,
2025
Acquisitions3
Other Adjustments 1
June 30,
2026
Power & Energy
Goodwill$2,054 $— $(10)$2,044 
Construction Industries
Goodwill264 — (4)260 
Impairments(22)— — (22)
Net goodwill242 — (4)238 
Resource Industries
Goodwill5,086 546 7 5,639 
Impairments(2,100)— — (2,100)
Net goodwill2,986 546 — 7 3,539 
All Other 2
Goodwill39 — (1)38 
Consolidated total
Goodwill7,443 546 (8)7,981 
Impairments(2,122)— — (2,122)
Net goodwill$5,321 $546 $(8)$5,859 

1 Other adjustments are comprised primarily of foreign currency translation.
2 Includes All Other Segment (See Note 16).
3 See Note 22 - Acquisitions.