Goodwill and Intangible Assets, net

6 Months Ended

Jun. 30, 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	(16)	—	(7)	(23)
As of June 30, 2021(1)	752	149	242	1,143

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(1)There were no accumulated impairment losses as of June 30, 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	—	(14)	—	—	(14)
As of June 30, 2021	44	710	45	56	855
Accumulated Amortization
As of December 31, 2020	(38)	(555)	(40)	(39)	(672)
Amortization	(1)	(9)	(1)	—	(11)
Exchange rate changes	—	13	—	(1)	12
As of June 30, 2021	(39)	(551)	(41)	(40)	(671)
Net book value	5	159	4	16	184

Indefinite-lived intangible assets are as follows:

	Trademarks and Trade Names
	(In $ millions)
As of December 31, 2020	122
Exchange rate changes	(2)
As of June 30, 2021	120

During the six months ended June 30, 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	22
2023	19
2024	18
2025	18
2026	18