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Goodwill and Intangible Assets, Net
 12 Months Ended
Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets, Net
oodwill and Intangible Assets, Net
Goodwill
 
Engineered
Materials
 
Acetate Tow
 
Acetyl
Chain
 
Total
 
(In $ millions)
As of December 31, 2016
462

 
148

 
186

 
796

Acquisitions (Note 4)
128

 
—

 
—

 
128

Exchange rate changes
53

 
1

 
25

 
79

As of December 31, 2017
643

 
149

 
211

 
1,003

Acquisitions (Note 4)
84

 
—

 
—

 
84

Exchange rate changes
(20
)
 
(1
)
 
(9
)
 
(30
)
As of December 31, 2018(1)
707

 
148

 
202

 
1,057

______________________________
(1) 
There were $0 million of accumulated impairment losses as of December 31, 2018.
In connection with the Company's annual goodwill impairment assessment, the Company did not record an impairment loss to goodwill during the nine months ended September 30, 2018 as the estimated fair value for each of the Company's reporting units exceeded the carrying amount of the underlying assets by a substantial margin (Note 2). No events or changes in circumstances occurred during the three months ended December 31, 2018 that would indicate that the carrying amount of the assets may not be fully recoverable. Accordingly, no additional impairment analysis was performed during that period.
Intangible Assets, Net
Finite-lived intangible assets are as follows:
 
Licenses
 
Customer-
Related
Intangible
Assets
 
Developed
Technology
 
Covenants
Not to
Compete
and Other
 
Total
 
 
(In $ millions)
 
Gross Asset Value
 
 
 
 
 
 
 
 
 
 
As of December 31, 2016
36

 
509

 
35

 
53

 
633

 
Acquisitions (Note 4)
—

 
73

 
9

 
—

 
82

(1) 
Exchange rate changes
2

 
58

 
1

 
1

 
62

 
As of December 31, 2017
38

 
640

 
45

 
54

 
777

 
Acquisitions (Note 4)
—

 
32

 
—

 
3

 
35

(2) 
Renewals
6

(3 
) 
—

 
—

 
—

 
6

 
Exchange rate changes
(2
)
 
(21
)
 
(1
)
 
(1
)
 
(25
)
 
As of December 31, 2018
42

 
651

 
44

 
56

 
793

 
Accumulated Amortization
 
 
 
 
 
 
 
 
 
 
As of December 31, 2016
(27
)
 
(440
)
 
(26
)
 
(31
)
 
(524
)
 
Amortization
(4
)
 
(11
)
 
(3
)
 
(2
)
 
(20
)
 
Exchange rate changes
(2
)
 
(45
)
 
(1
)
 
1

 
(47
)
 
As of December 31, 2017
(33
)
 
(496
)
 
(30
)
 
(32
)
 
(591
)
 
Amortization
(2
)
 
(16
)
 
(3
)
 
(3
)
 
(24
)
 
Exchange rate changes
2

 
17

 
1

 
—

 
20

 
As of December 31, 2018
(33
)
 
(495
)
 
(32
)
 
(35
)
 
(595
)
 
Net book value
9

 
156

 
12

 
21

 
198

 
______________________________
(1) 
Primarily related to intangible assets acquired from Nilit (Note 4) during the year ended December 31, 2017, with a weighted average amortization period of 14 years.
(2) 
Primarily related to intangible assets acquired from Omni Plastics (Note 4) during the year ended December 31, 2018, with a weighted average amortization period of 11 years.
(3) 
During the year ended December 31, 2018, the Company extended a research and development technology agreement license, which will be amortized over a period of 5 years.
Indefinite-lived intangible assets are as follows:
 
Trademarks
and Trade Names
 
(In $ millions)
As of December 31, 2016
85

Acquisitions (Note 4)
22

Exchange rate changes
8

As of December 31, 2017
115

Acquisitions (Note 4)
—

Exchange rate changes
(3
)
As of December 31, 2018
112


In connection with the Company's annual indefinite-lived intangible assets impairment assessment, the Company did not record an impairment loss to indefinite-lived intangible assets during the nine months ended September 30, 2018 as the estimated fair value for each of the Company's indefinite-lived intangible assets exceeded the carrying amount of the underlying asset by a substantial margin (Note 2). No events or changes in circumstances occurred during the three months ended December 31, 2018 that would indicate that the carrying amount of the assets may not be fully recoverable. Accordingly, no additional impairment analysis was performed during that period.
Estimated amortization expense for the succeeding five fiscal years is as follows:
 
(In $ millions)
2019
22

2020
20

2021
19

2022
17

2023
15