v3.25.4
Intangible Assets and Goodwill (Tables)
 12 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Summary of intangible assets
Intangible assets were comprised of the following:
 
 December 31, 2025
(Millions of dollars)
Gross Carrying Amount1
Accumulated
Amortization1
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 
 December 31, 2024
Gross Carrying AmountAccumulated
Amortization		Net
Customer relationships$2,220 $(1,950)$270 
Intellectual property496 (401)95 
Other117 (83)34 
Total finite-lived intangible assets$2,833 $(2,434)$399 
1 For the year ended December 31, 2025, $248 million of intangible assets were fully amortized and have been removed.
Summary of expected amortization expense related to intangible assets
As of December 31, 2025, amortization expense related to intangible assets is expected to be: 

(Millions of dollars)
20262027202820292030Thereafter
$98$35$27$24$21$36
Summary of goodwill acquired
The changes in carrying amount of goodwill by reportable segment for the years ended December 31, 2025 and 2024 were as follows:

(Millions of dollars)December 31, 2024
Other Adjustments 1
December 31, 2025
Construction Industries
Goodwill$261 $3 $264 
Impairments(22)— (22)
Net goodwill239 3 242 
Resource Industries
Goodwill4,124 37 4,161 
Impairments(1,175)— (1,175)
Net goodwill2,949 37 2,986 
Power & Energy
Goodwill2,939 40 2,979 
Impairment(925)— (925)
Net goodwill2,014 40 2,054 
All Other 2
Goodwill39 — 39 
Consolidated total
Goodwill7,363 80 7,443 
Impairments(2,122)— (2,122)
Net goodwill$5,241 $80 $5,321 
December 31, 2023
Other Adjustments 1
December 31, 2024
Construction Industries
Goodwill$277 $(16)$261 
Impairments(22)— (22)
Net goodwill255 (16)239 
Resource Industries
Goodwill4,151 (27)4,124 
Impairments(1,175)— (1,175)
Net goodwill2,976 (27)2,949 
Power & Energy
Goodwill2,959 (20)2,939 
Impairment(925)— (925)
Net goodwill2,034 (20)2,014 
All Other 2
Goodwill43 (4)39 
Consolidated total
Goodwill7,430 (67)7,363 
Impairments(2,122)— (2,122)
Net goodwill$5,308 $(67)$5,241 
1 Other adjustments are comprised primarily of foreign currency translation.
2 Includes All Other Segment (See Note 23).