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Goodwill and Intangible Assets, net
 9 Months Ended
Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets, Net Goodwill and Intangible Assets, Net
Goodwill
Engineered
Materials		Acetyl ChainTotal
(In $ millions)
As of December 31, 20226,775 367 7,142 
Acquisitions (Note 3)
(24)— (24)
Disposition(1)
(80)— (80)
Exchange rate changes(45)(2)(47)
As of September 30, 2023(2)
6,626 365 6,991 
______________________________
(1)Related to the formation of the Nutrinova joint venture (Note 3).
(2)There were no accumulated impairment losses as of September 30, 2023.
The Company assesses the recoverability of the carrying amount of its reporting unit goodwill either qualitatively or quantitatively annually during the third quarter of its fiscal year using June 30 balances or whenever events or changes in circumstances indicate that the carrying amount of the asset may not be fully recoverable. In connection with the Company's annual goodwill impairment assessment, the Company did not record an impairment loss to goodwill during the nine months ended September 30, 2023 as the estimated fair value for each of the Company's reporting units exceeded the carrying amount of the underlying assets by a substantial margin.
Intangible Assets, Net
Finite-lived intangible assets are as follows:
LicensesCustomer-
Related
Intangible
Assets		Developed
Technology		Covenants
Not to
Compete
and Other		Total
(In $ millions)
Gross Asset Value
As of December 31, 202242 2,455 601 55 3,153 
Disposition(1)
— (58)— — (58)
Exchange rate changes(2)(23)(10)— (35)
As of September 30, 202340 2,374 591 55 3,060 
Accumulated Amortization
As of December 31, 2022(39)(567)(50)(40)(696)
Amortization— (93)(30)(1)(124)
Disposition(1)
— 58 — — 58 
Exchange rate changes2 10 — — 12 
As of September 30, 2023(37)(592)(80)(41)(750)
Net book value3 1,782 511 14 2,310 
______________________________
(1)Related to the formation of the Nutrinova joint venture (Note 3).
Indefinite-lived intangible assets are as follows:
Trademarks
and Trade Names
(In $ millions)
As of December 31, 20221,648 
Disposition(1)
(14)
Exchange rate changes— 
As of September 30, 20231,634 
______________________________
(1)Related to the formation of the Nutrinova joint venture (Note 3).
The Company assesses the recoverability of the carrying amount of its indefinite-lived intangible assets either qualitatively or quantitatively annually during the third quarter of its fiscal year using June 30 balances or whenever events or changes in circumstances indicate that the carrying amount of the assets may not be fully recoverable. In connection with the Company's annual indefinite-lived intangible assets impairment assessment, the Company did not record an impairment loss to indefinite-lived intangible assets during the nine months ended September 30, 2023 as the estimated fair value of each of the Company's indefinite-lived intangible assets exceeded the carrying value of the underlying assets by a substantial margin.
During the nine months ended September 30, 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)
2024161 
2025161 
2026160 
2027160 
2028160