Acquisitions, Dispositions and Plant Closures (Tables)

12 Months Ended

Dec. 31, 2022

Acquisitions, Dispositions and Plant Closures [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The preliminary purchase price allocation for the M&M Acquisition is as follows:

	As of November 1, 2022
	(In $ millions)
Cash and cash equivalents	462
Trade receivables - third party and affiliates (Note 5)	484
Inventories (Note 6)	1,078
Current other assets	311
Property, plant and equipment, net (Note 8)	1,281
Intangible assets (Note 9)
Customer-related intangible assets	1,500
Trade names	1,400
Developed technology	550
Goodwill (Note 9)(1)	5,788
Other assets	359
Total fair value of assets acquired	13,213
Trade payables - third party and affiliates	(458)
Current other liabilities (Note 10)	(339)
Deferred income taxes (Note 15)	(1,006)
Noncurrent operating lease liabilities (Note 16)	(159)
Other liabilities	(77)
Total fair value of liabilities assumed	(2,039)
Noncontrolling interests	(125)
Net assets acquired	11,049

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(1)Goodwill consists of expected revenue and operating synergies resulting from the acquisition, a portion of which is expected to be deductible for income tax purposes.

Business Acquisition, Pro Forma Information

	Year Ended December 31,
	2022		2021
	(In millions)
Unaudited Consolidated Pro Forma Results
Proforma Net sales	$	12,614	$	12,069
Proforma Earnings (loss) from continuing operations before tax	888		1,843

Schedule of Restructuring and Related Costs

The exit and shutdown costs related to this closure are as follows:

	Year Ended December 31,
	2022
	(In $ millions)
Asset impairments(1)	(8)
Restructuring(1)	(1)
Accelerated amortization expense	(10)
Plant/Office closure(1)	8
Total	(11)

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(1)Included in Other (charges) gains, net in the consolidated statements of operations (Note 24).