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Goodwill and Intangible Assets, Net
 12 Months Ended
Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets, Net Goodwill and Intangible Assets, Net
Goodwill
 
Engineered
Materials
 
Acetate Tow
 
Acetyl
Chain
 
Total
 
(In $ millions)
As of December 31, 2017
643

 
149

 
211

 
1,003

Acquisitions
84

(1) 
—

 
—

 
84

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

 
148

 
202

 
1,057

Acquisitions
29

(2) 
—

 
—

 
29

Exchange rate changes
(9
)
 
—

 
(3
)
 
(12
)
As of December 31, 2019(3)
727

 
148

 
199

 
1,074

______________________________
(1) 
Represents goodwill related to the acquisition of Omni Plastics, L.L.C. ("Omni Plastics").
(2) 
Represents goodwill related to the acquisition of Next Polymers Ltd. ("Next Polymers").
(3) 
There were $0 million of accumulated impairment losses as of December 31, 2019.
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, 2019, 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, 2019 that indicated 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, 2017
38

 
640

 
45

 
54

 
777

 
Acquisitions
—

 
32

 
—

 
3

 
35

(1) 
Renewals
6

(2) 
—

 
—

 
—

 
6

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

 
651

 
44

 
56

 
793

 
Acquisitions
—

 
25

 
—

 
—

 
25

(3) 
Exchange rate changes
—

 
(9
)
 
—

 
—

 
(9
)
 
As of December 31, 2019
42

 
667

 
44

 
56

 
809

 
Accumulated Amortization
 
 
 
 
 
 
 
 
 
 
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
)
 
Amortization
(2
)
 
(16
)
 
(3
)
 
(3
)
 
(24
)
 
Exchange rate changes
—

 
7

 
—

 
—

 
7

 
As of December 31, 2019
(35
)
 
(504
)
 
(35
)
 
(38
)
 
(612
)
 
Net book value
7

 
163

 
9

 
18

 
197

 
______________________________
(1) 
Primarily related to intangible assets acquired from Omni Plastics during the year ended December 31, 2018, with a weighted average amortization period of 11 years.
(2) 
During the year ended December 31, 2018, the Company extended a research and development technology agreement license, which is being amortized over a period of 5 years.
(3) 
Related to intangible assets acquired from Next Polymers during the year ended December 31, 2019, with a weighted average amortization period of 13 years.
Indefinite-lived intangible assets are as follows:
 
Trademarks
and Trade Names
 
 
(In $ millions)
 
As of December 31, 2017
115

 
Acquisitions
—

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

 
Acquisitions
4

(1) 
Impairment loss (Note 2)
—

 
Exchange rate changes
(1
)
 
As of December 31, 2019
115

 
______________________________
(1) 
Related to indefinite-lived intangible assets acquired from Next Polymers.
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, 2019, 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, 2019 that indicated the carrying amount of the assets may not be fully recoverable. Accordingly, no additional impairment analysis was performed during that period.
During the year ended December 31, 2019, the Company did not renew or extend any intangible assets.
Estimated amortization expense for the succeeding five fiscal years is as follows:
 
(In $ millions)
2020
21

2021
21

2022
19

2023
17

2024
16