Goodwill and Intangible Assets, net

3 Months Ended

Mar. 31, 2022

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, 2021	1,030	149	233	1,412
Acquisitions (Note 3)	2	—	—	2	(1)
Exchange rate changes	(13)	—	(5)	(18)
As of March 31, 2022(2)	1,019	149	228	1,396

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(1)Represents goodwill related to the acquisition of Santoprene.

(2)There were no accumulated impairment losses as of March 31, 2022.

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, 2021	45	996	45	55	1,141
Exchange rate changes	—	(13)	—	—	(13)
As of March 31, 2022	45	983	45	55	1,128
Accumulated Amortization
As of December 31, 2021	(41)	(543)	(42)	(39)	(665)
Amortization	—	(10)	—	(1)	(11)
Exchange rate changes	—	7	—	—	7
As of March 31, 2022	(41)	(546)	(42)	(40)	(669)
Net book value	4	437	3	15	459

Indefinite-lived intangible assets are as follows:

	Trademarks and Trade Names
	(In $ millions)
As of December 31, 2021	259
Exchange rate changes	(3)
As of March 31, 2022	256

During the three months ended March 31, 2022, the Company did not renew or extend any intangible assets.

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

	(In $ millions)
2023	40
2024	40
2025	40
2026	39
2027	39