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Investments in Affiliates
12 Months Ended
Dec. 31, 2021
Investments in and Advances to Affiliates, Schedule of Investments [Abstract]  
Investments in Affiliates Investments in Affiliates
Entities in which the Company has an investment accounted for under the equity method of accounting or equity investments without readily determinable fair values are considered affiliates; any transactions or balances with such companies are considered affiliate transactions.
In October 2020, the Company completed the sale of its 45% joint venture equity interest in Polyplastics Co., Ltd. ("Polyplastics"), to its joint venture partner Daicel Corporation ("Daicel"), for a purchase price of approximately $1.6 billion in cash. In connection with the transaction, the Company recorded a gain on the sale of its equity interest in Polyplastics of $1.4 billion to Gain (loss) on sale of investments in affiliates in the consolidated statements of operations and income tax expense, net, of approximately $254 million during the three months ended December 31, 2020. The gain on the sale of the Company's equity interest in Polyplastics was included in its Engineered Materials segment.
In addition to the sale of the Company's 45% equity interest in Polyplastics, the agreement also provided for the amendment of certain supply agreements and the execution of certain intellectual property licenses between Celanese, certain of its affiliates and Polyplastics and Daicel, as applicable, as well as the termination of certain agreements and a mutual release of liabilities under such terminated agreements.
Equity Method
Equity method investments and ownership interests by business segment are as follows:
Ownership
as of
December 31,
Carrying
Value as of
December 31,
Share of
Earnings (Loss)
Year Ended
December 31,
Dividends and
Other Distributions Year Ended
December 31,
2021202020212020202120202019202120202019
(In percentages)(In $ millions)
Engineered Materials
Ibn Sina25 25 179 172 61 37 68 (50)(29)(69)
InfraServ GmbH & Co. Hoechst KG(1)(2)
31 31 121 124 24 18 14 (18)(18)(17)
Fortron Industries LLC50 50 145 136 17 12 18 (8)(9)(7)
Korea Engineering Plastics Co., Ltd.50 50 150 153 31 19 27 (22)(23)(28)
Polyplastics Co., Ltd.— — — — — 34 44 — (58)(39)
Other Activities(2)
InfraServ GmbH & Co. Gendorf KG30 30 43 47 11 11 (11)(7)(5)
YNCORIS GmbH & Co. KG(3)
22 22 15 17 (3)(3)(3)
Total653 649 146 134 182 (112)(147)(168)
______________________________
(1)InfraServ GmbH & Co. Hoechst KG is owned primarily by an entity included in the Company's Engineered Materials segment. The Company's Acetyl Chain segment also holds an ownership percentage.
(2)InfraServ real estate service companies ("InfraServ Entities") own and operate sites in Frankfurt am Main-Hoechst, Gendorf and Knapsack, Germany. The InfraServ Entities were created to own land and property and to provide various technical and administrative services at these manufacturing locations.
(3)Formerly known as InfraServ GmbH & Co. Knapsack KG.
Because financial information for Ibn Sina is not available to the Company on a timely basis, the Company's proportional share is reported on a one quarter lag. Accordingly, summarized financial information for Ibn Sina is as follows:
As of September 30,
20212020
(In $ millions)
Current assets283 244 
Noncurrent assets806 817 
Current liabilities196 201 
Noncurrent liabilities324 372 
Twelve Months Ended
September 30,
202120202019
(In $ millions)
Revenues734 625 726 
Gross profit272 187 299 
Net income207 118 227 
Equity Investments Without Readily Determinable Fair Values
Equity investments without readily determinable fair values and ownership interests by business segment are as follows:
Ownership
as of
December 31,
Carrying
Value
as of
December 31,
Dividend
Income for the
Year Ended
December 31,
2021202020212020202120202019
(In percentages)(In $ millions)
Acetate Tow
Kunming Cellulose Fibers Co. Ltd.30 30 14 14 13 11 11 
Nantong Cellulose Fibers Co. Ltd.31 31 121 121 106 91 79 
Zhuhai Cellulose Fibers Co. Ltd.30 30 30 30 27 24 22 
Other Activities
InfraServ GmbH & Co. Wiesbaden KG— 
Total170 171 147 126 113 
Transactions with Affiliates
The Company owns manufacturing facilities at the InfraServ location in Frankfurt am Main-Hoechst, Germany and has contractual agreements with the InfraServ Entities and certain other equity affiliates and investees accounted for at cost less impairment, adjusted for observable price changes for an identical or similar investment of the same issuer. These contractual agreements primarily relate to energy purchases, site services and purchases of product for consumption and resale.
Transactions and balances with affiliates are as follows:
Year Ended December 31,
202120202019
(In $ millions)
Purchases334 249 291 
Sales and other credits74 42 102 
Interest expense— — 
As of December 31,
20212020
(In $ millions)
Non-trade receivables32 22 
Total due from affiliates32 22 
Short-term borrowings(1)
64 58 
Trade payables71 38 
Current Other liabilities12 
Total due to affiliates147 105 
______________________________
(1)The Company has agreements with certain affiliates whereby excess affiliate cash is lent to and managed by the Company at variable interest rates governed by those agreements.