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Revenue Recognition
 9 Months Ended
Sep. 30, 2022
Revenue Recognition and Deferred Revenue [Abstract]  
Revenue Recognition Revenue Recognition
The Company has certain contracts that represent take-or-pay revenue arrangements in which the Company's performance obligations extend over multiple years. As of September 30, 2022, the Company had $1.3 billion of remaining performance obligations related to take-or-pay contracts. The Company expects to recognize approximately $86 million of its remaining performance obligations as Net sales in 2022, $348 million in 2023, $351 million in 2024 and the balance thereafter.
Contract Balances
Contract liabilities primarily relate to advances or deposits received from the Company's customers before revenue is recognized. These amounts are recorded as deferred revenue and are included in Current and Noncurrent Other liabilities in the unaudited consolidated balance sheets.
The Company does not have any material contract assets as of September 30, 2022.
Disaggregated Revenue
In general, the Company's business segmentation is aligned according to the nature and economic characteristics of its products and customer relationships and provides meaningful disaggregation of each business segment's results of operations.
The Company manages its Engineered Materials business segment through its project management pipeline, which is comprised of a broad range of projects which are solutions-based and are tailored to each customers' unique needs. Projects are identified and selected based on success rate and may involve a number of different polymers per project for use in multiple end-use applications. Therefore, the Company is agnostic toward products and end-use markets for the Engineered Materials business segment.
Within the Acetate Tow business segment, the Company's primary product is acetate tow, which is managed through contracts with a few major tobacco companies and accounts for a significant amount of filters used in cigarette production worldwide.
The Company manages its Acetyl Chain business segment by leveraging its ability to sell chemicals externally to end-use markets or downstream to its emulsion polymers, redispersible powders and ethylene vinyl acetate ("EVA") polymers businesses. Decisions to sell externally and geographically or downstream and along the Acetyl Chain are based on market demand, trade flows and maximizing the value of its chemicals. Therefore, the Company's strategic focus is on executing within this integrated chain model and less on driving product-specific revenue.
Further disaggregation of Net sales by business segment and geographic destination is as follows:
Three Months Ended
September 30, 		Nine Months Ended
September 30,
2022202120222021
(In $ millions)
Engineered Materials
North America292 194 865 546 
Europe and Africa355 282 1,112 882 
Asia-Pacific256 185 733 518 
South America26 23 77 65 
Total929 684 2,787 2,011 
Acetate Tow
North America24 24 75 77 
Europe and Africa65 64 181 204 
Asia-Pacific44 39 118 99 
South America2 1 5 5 
Total135 128 379 385 
Acetyl Chain
North America437 405 1,262 1,046 
Europe and Africa396 458 1,417 1,188 
Asia-Pacific357 540 1,354 1,530 
South America47 51 126 102 
Total(1)
1,237 1,454 4,159 3,866 
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(1)Excludes intersegment sales of $37 million and $35 million for the three months ended September 30, 2022 and 2021, respectively. Excludes intersegment sales of $109 million and $88 million for the nine months ended September 30, 2022 and 2021, respectively.