Goodwill and Intangible Assets, net

6 Months Ended

Jun. 30, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets Disclosure

Goodwill and Intangible Assets, Net

Goodwill

	Engineered Materials		Acetate Tow		Acetyl Chain		Total
	(In $ millions)
As of December 31, 2019	727		148		199		1,074
Acquisitions	—		—		28	(1)	28
Exchange rate changes	(3	)	(1	)	—		(4	)
As of June 30, 2020(2)	724		147		227		1,098

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⁽¹⁾  Represents goodwill related to the acquisition of Nouryon's redispersible polymer powders business offered under the Elotex^® brand ("Elotex").

⁽²⁾  There were $0 million of accumulated impairment losses as of June 30, 2020.

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, 2019	42		667			44		56		809
Acquisitions	—		16		(1)	—		—		16
Exchange rate changes	(1	)	(3	)		—		—		(4	)
As of June 30, 2020	41		680			44		56		821
Accumulated Amortization
As of December 31, 2019	(35	)	(504	)		(35	)	(38	)	(612	)
Amortization	(1	)	(8	)		(2	)	—		(11	)
Exchange rate changes	1		1			—		—		2
As of June 30, 2020	(35	)	(511	)		(37	)	(38	)	(621	)
Net book value	6		169			7		18		200

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⁽¹⁾  Related to acquired Elotex finite-lived intangible assets, with a weighted average amortization period of 14 years.

Indefinite-lived intangible assets are as follows:

	Trademarks and Trade Names
	(In $ millions)
As of December 31, 2019	115
Acquisitions	2	(1)
As of June 30, 2020	117

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⁽¹⁾  Related to acquired Elotex indefinite-lived intangible assets.

During the six months ended June 30, 2020, the Company did not renew or extend any intangible assets.

Estimated amortization expense for the succeeding five fiscal years is as follows:

	(In $ millions)
2021	22
2022	21
2023	18
2024	17
2025	17