Goodwill and Intangible Assets, net

3 Months Ended

Mar. 31, 2021

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, 2020	768	149	249	1,166
Exchange rate changes	(22)	—	(10)	(32)
As of March 31, 2021(1)	746	149	239	1,134

______________________________

(1)There were no accumulated impairment losses as of March 31, 2021.

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, 2020	44	724	45	56	869
Exchange rate changes	—	(21)	—	—	(21)
As of March 31, 2021	44	703	45	56	848
Accumulated Amortization
As of December 31, 2020	(38)	(555)	(40)	(39)	(672)
Amortization	—	(4)	(2)	—	(6)
Exchange rate changes	—	17	2	—	19
As of March 31, 2021	(38)	(542)	(40)	(39)	(659)
Net book value	6	161	5	17	189

Indefinite-lived intangible assets are as follows:

	Trademarks and Trade Names
	(In $ millions)
As of December 31, 2020	122
Exchange rate changes	(3)
As of March 31, 2021	119

During the three months ended March 31, 2021, the Company did not renew or extend any intangible assets.

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

	(In $ millions)
2022	21
2023	19
2024	18
2025	18
2026	18