Goodwill and Intangible Assets

9 Months Ended

Sep. 30, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLE ASSETS

Note 4 — GOODWILL AND INTANGIBLE ASSETS

Goodwill as of September 30, 2020 and December 31, 2019 and changes in the carrying amount of goodwill by segment were as follows: 

(In millions)	Specialty Engineered Materials		Color, Additives and Inks		Distribution		Total
Balance at December 31, 2019	$	236.3	$	447.8	$	1.6	$	685.7
Acquisition of businesses	—		570.1		—		570.1
Currency translation	0.1		24.1		—		24.2
Balance at September 30, 2020	$	236.4	$	1,042.0	$	1.6	$	1,280.0

Indefinite and finite-lived intangible assets consisted of the following: 

	As of September 30, 2020
(In millions)	Acquisition Cost		Accumulated Amortization		Currency Translation		Net
Customer relationships	$	508.2	$	(102.8)	$	10.4	$	415.8
Patents, technology and other	549.9		(94.6)		12.4		467.7
Indefinite-lived trade names	109.5		—				109.5
Total	$	1,167.6	$	(197.4)	$	22.8	$	993.0

	As of December 31, 2019
(In millions)	Acquisition Cost		Accumulated Amortization		Currency Translation		Net
Customer relationships	$	286.8	$	(89.1)	$	(1.0)	$	196.7
Patents, technology and other	244.0		(79.6)		(1.3)		163.1
Indefinite-lived trade names	109.5		—		—		109.5
Total	$	640.3	$	(168.7)	$	(2.3)	$	469.3