XML 37 R17.htm IDEA: XBRL DOCUMENT v3.25.4
Goodwill and Intangible Assets, Net
 12 Months Ended
Dec. 31, 2025
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, 2023
6,602 375 6,977 
Impairment losses(1,517)— (1,517)
Exchange rate changes(60)(13)(73)
As of December 31, 2024(1)
5,025 362 5,387 
Transfer to assets held for sale (Note 4)
(154)— (154)
Impairment losses(1,140)— (1,140)
Exchange rate changes51 27 78 
As of December 31, 2025(2)
3,782 389 4,171 
______________________________
(1)Includes accumulated impairment losses of $1.5 billion in the Engineered Materials segment.
(2)Includes accumulated impairment losses of $2.7 billion in the Engineered Materials segment.
During the three months ended September 30, 2025, the Company completed qualitative evaluations of its reporting units, with the exception of the engineered materials reporting unit, which was tested quantitatively. The Company concluded that it was more likely than not that the fair value of the reporting units evaluated qualitatively exceeded such units' carrying value.
The results of the quantitative test of the engineered materials reporting unit determined that the carrying amount of the engineered materials reporting unit exceeded its estimated fair value. Accordingly, the Company recorded a noncash goodwill impairment loss of $1.0 billion in Other charges (gains), net (Note 24) within the Engineered Materials segment. Although the projected cash flows of the engineered materials reporting unit had not declined from the projections used in the December 31, 2024 quantitative analysis, the impairment loss was primarily driven by a decline in the Company's market capitalization as a result of a decrease in the stock price as of the testing date which led to a 275 basis point increase in the discount rate used in the model.
The Company recorded an additional noncash goodwill impairment loss of $98 million in Other charges (gains), net (Note 24) within the Engineered Materials segment during the three months ended September 30, 2025, as a result of the Company's intent to divest the Micromax® business (Note 4).
No events or changes in circumstances occurred during the three months ended December 31, 2025 that indicated the fair values of the Company's reporting units were reduced below their carrying amounts. Accordingly, no additional impairment analysis was performed during that period.
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, 202341 2,437 601 55 3,134 
Exchange rate changes(1)(31)(14)— (46)
As of December 31, 202440 2,406 587 55 3,088 
Transfer to assets held for sale (Note 4)
— (145)(51)— (196)
Exchange rate changes1 170 27 (1)197 
As of December 31, 202541 2,431 563 54 3,089 
Accumulated Amortization
As of December 31, 2023(38)(639)(95)(42)(814)
Amortization— (116)(42)(1)(159)
Exchange rate changes1 27 3 — 31 
As of December 31, 2024(37)(728)(134)(43)(942)
Amortization(1)(120)(42)(1)(164)
Transfer to assets held for sale (Note 4)
— 22 11 — 33 
Exchange rate changes(1)(61)(5)— (67)
As of December 31, 2025(39)(887)(170)(44)(1,140)
Net book value2 1,544 393 10 1,949 
Indefinite-lived intangible assets are as follows:
Trademarks
and Trade Names
(In $ millions)
As of December 31, 20231,655 
Impairment losses(117)
Exchange rate changes(43)
As of December 31, 20241,495 
Impairment losses(346)
Exchange rate changes86 
As of December 31, 20251,235 
During the three months ended September 30, 2025, the Company completed qualitative evaluations of its indefinite-lived intangible assets, with the exception of those assigned to the engineered materials reporting unit, and concluded that it was more likely than not that the fair value of those indefinite-lived intangible assets exceeded their carrying value. Indefinite-lived intangible assets assigned to the engineered materials reporting unit were tested quantitatively.
The results of the quantitative testing of the engineered materials indefinite-lived intangible assets determined that the carrying amount of certain trade names exceeded their estimated fair values. Accordingly, the Company recorded a noncash impairment loss of $346 million in Other charges (gains), net (Note 24) to impair the net book value of certain trade names, primarily Zytel®, included in the Engineered Materials segment. The impairment of these trade names was primarily driven by a decline in the Company's market capitalization as a result of a decrease in the stock price as of the testing date which led to an increase in the discount rates used in the models.
No events or changes in circumstances occurred during the three months ended December 31, 2025 that indicated the carrying amount of the Company's remaining indefinite-lived intangible assets may not be fully recoverable. Accordingly, no additional impairment analysis was performed during that period.
During the year ended December 31, 2025, the Company did not renew or extend any intangible assets.
Estimated amortization expense for the next five years is as follows:
As of December 31, 2025
 (In $ millions)
2026158 
2027158 
2028157 
2029153 
2030149