v3.26.3
Intangible Assets and Goodwill (Tables)
 9 Months Ended
Sep. 30, 2026
Intangible Asset, Goodwill and Other [Abstract]  
Summary of Intangible assets
Intangible assets were comprised of the following:
 
September 30, 2026
(Millions of dollars)
Gross
Carrying
Amount1
Accumulated
Amortization1
Net
Customer relationships$269 $(123)$146 
Intellectual property644 (406)238 
Other86 (61)25 
Total finite-lived intangible assets$999 $(590)$409 

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 nine months ended September 30, 2026, $1.9 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 Three Months of 20262027202820292030Thereafter
$17$67$60$57$54$154
Summary of Goodwill acquired
The changes in carrying amount of goodwill by reportable segment for the nine months ended September 30, 2026 were as follows: 

(Millions of dollars)December 31, 2025
Acquisitions3
Other Adjustments 1
September 30, 2026
Power & Energy
Goodwill$2,054 $33 $(12)$2,075 
Construction Industries
Goodwill264 — — 264 
Impairments(22)— — (22)
Net goodwill242 — — 242 
Resource Industries
Goodwill5,086 567 (4)5,649 
Impairments(2,100)— — (2,100)
Net goodwill2,986 567 (4)3,549 
All Other 2
Goodwill39 — — 39 
Consolidated total
Goodwill7,443 600 (16)8,027 
Impairments(2,122)— — (2,122)
Net goodwill$5,321 $600 $(16)$5,905 

1 Other adjustments are comprised primarily of foreign currency translation.
2 Includes All Other Segment (See Note 16).
3 See Note 22 for details on the RPMGlobal acquisition.