The following table provides the components of Identifiable intangible assets: | ||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | |||||||||||||||||||||||
(MILLIONS OF DOLLARS) | Gross Carrying Amount | Accumulated Amortization | Identifiable Intangible Assets, less Accumulated Amortization | Gross Carrying Amount | Accumulated Amortization | Identifiable Intangible Assets, less Accumulated Amortization | ||||||||||||||||||
Finite-lived intangible assets | ||||||||||||||||||||||||
Developed technology rights | $ | 72,038 | $ | (41,541 | ) | $ | 30,497 | $ | 72,349 | $ | (36,895 | ) | $ | 35,454 | ||||||||||
Brands | 1,743 | (773 | ) | 970 | 1,657 | (693 | ) | 964 | ||||||||||||||||
License agreements and other | 896 | (805 | ) | 91 | 914 | (642 | ) | 272 | ||||||||||||||||
74,677 | (43,119 | ) | 31,558 | 74,920 | (38,230 | ) | 36,690 | |||||||||||||||||
Indefinite-lived intangible assets | ||||||||||||||||||||||||
Brands | 7,381 | — | 7,381 | 7,786 | — | 7,786 | ||||||||||||||||||
In-process research and development | 443 | — | 443 | 669 | — | 669 | ||||||||||||||||||
Other | 3 | — | 3 | 1 | — | 1 | ||||||||||||||||||
7,827 | — | 7,827 | 8,456 | — | 8,456 | |||||||||||||||||||
Identifiable intangible assets(a) | $ | 82,504 | $ | (43,119 | ) | $ | 39,385 | $ | 83,376 | $ | (38,230 | ) | $ | 45,146 | ||||||||||
(a) | The decrease is primarily related to amortization, asset impairment charges and the transfer of certain product rights to our equity-method investment in China. For additional information about the asset impairment charges, see Note 4. Other (income)/deductions—net. For additional information about the transfer of certain product rights, see Note 2D. Acquisitions, Divestitures, Collaborative Arrangements and Equity-Method Investments: Equity-Method Investments. |
The following table provides the components of and changes in the carrying amount of Goodwill: | ||||||||||||||||||||
(MILLIONS OF DOLLARS) | Primary Care | Specialty Care and Oncology | Established Products and Emerging Markets | Consumer Healthcare | Total | |||||||||||||||
Balance, January 1, 2012 | $ | 6,229 | $ | 17,097 | $ | 18,746 | $ | 2,497 | $ | 44,569 | ||||||||||
Additions(a) | — | — | 91 | 514 | 605 | |||||||||||||||
Other(b) | (77 | ) | (212 | ) | (234 | ) | (990 | ) | (1,513 | ) | ||||||||||
Balance, December 31, 2012 | 6,152 | 16,885 | 18,603 | 2,021 | 43,661 | |||||||||||||||
Derecognition(c) | — | — | (292 | ) | — | (292 | ) | |||||||||||||
Other(b) | (122 | ) | (341 | ) | (378 | ) | (9 | ) | (850 | ) | ||||||||||
Balance, December 31, 2013 | $ | 6,030 | $ | 16,544 | $ | 17,933 | $ | 2,012 | $ | 42,519 | ||||||||||
(a) | Related to our acquisitions of Ferrosan, Alacer and NextWave (see Note 2A. Acquisitions, Divestitures, Collaborative Arrangements and Equity-Method Investments: Acquisitions). |
(b) | Primarily reflects the impact of foreign exchange. |
(c) | Reflects the goodwill derecognized as part of the transfer of certain product rights, which constituted a business, to our equity-method investment in China. For additional information, see Note 2D. Acquisitions, Divestitures, Collaborative Arrangements and Equity-Method Investments: Equity-Method Investments. |
The following table provides the annual amortization expense expected for the years 2014 through 2018: | ||||||||||||||||||||
(MILLIONS OF DOLLARS) | 2014 | 2015 | 2016 | 2017 | 2018 | |||||||||||||||
Amortization expense | $ | 4,099 | $ | 3,699 | $ | 3,451 | $ | 3,334 | $ | 3,219 | ||||||||||