Goodwill and Intangible Assets, net

3 Months Ended

Mar. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets, Net

Goodwill and Intangible Assets, Net

Goodwill

	Engineered Materials	Acetyl Chain	Total
	(In $ millions)
As of December 31, 2022	6,775	367	7,142
Acquisitions (Note 3)	(18)	—	(18)
Exchange rate changes	11	4	15
As of March 31, 2023(1)	6,768	371	7,139

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(1)There were no accumulated impairment losses as of March 31, 2023.

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, 2022	42	2,455	601	55	3,153
Exchange rate changes	—	22	—	—	22
As of March 31, 2023	42	2,477	601	55	3,175
Accumulated Amortization
As of December 31, 2022	(39)	(567)	(50)	(40)	(696)
Amortization	—	(30)	(11)	—	(41)
Exchange rate changes	—	(8)	—	—	(8)
As of March 31, 2023	(39)	(605)	(61)	(40)	(745)
Net book value	3	1,872	540	15	2,430

Indefinite-lived intangible assets are as follows:

	Trademarks and Trade Names
	(In $ millions)
As of December 31, 2022	1,648
Exchange rate changes	8
As of March 31, 2023	1,656

During the three months ended March 31, 2023, the Company did not renew or extend any intangible assets.

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

	(In $ millions)
2024	160
2025	160
2026	160
2027	160
2028	160