Goodwill and Intangible Assets

3 Months Ended

Dec. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

. Goodwill and Intangible Assets

The carrying amount of goodwill attributable to each reportable segment and the changes in those balances during the three months ended December 31, 2024 are as follows:


	Reinforcement Materials			Performance Chemicals			Total
	(In millions)
Balance at September 30, 2024	$	48		$	85		$	133
Foreign currency impact		(2	)		(4	)		(6	)
Balance at December 31, 2024	$	46		$	81		$	127

The following table provides information regarding the Company’s intangible assets:


	December 31, 2024							September 30, 2024
	Gross Carrying Value		Accumulated Amortization			Net Intangible Assets		Gross Carrying Value		Accumulated Amortization			Net Intangible Assets
	(In millions)
Intangible assets with finite lives
Developed technologies(1)	$	40	$	(12	)	$	28	$	34	$	(12	)	$	22
Trademarks		2		(1	)		1		2		(1	)		1
Customer relationships		58		(30	)		28		60		(30	)		30
Total intangible assets	$	100	$	(43	)	$	57	$	96	$	(43	)	$	53

(1)

Included within Developed technologies as of December 31, 2024 is $8 million of intangible assets acquired during the first quarter of fiscal 2025 as discussed in Note C above.

Intangible assets are amortized over their estimated useful lives, which range between ten and twenty-five years, with a weighted average amortization period of approximately sixteen years. Amortization expense was $2 million and $1 million, respectively, for the three months ended December 31, 2024 and 2023. Amortization expense is included in Cost of sales, Selling and administrative expenses and Research and technical expenses in the Consolidated Statements of Operations. Total amortization expense is estimated to be approximately $6 million each year for the next five fiscal years.