Goodwill and Intangible Assets

3 Months Ended

Dec. 31, 2020

Goodwill And Intangible Assets Disclosure [Abstract]

E. Goodwill and Intangible Assets

The carrying amount of goodwill attributable to each reportable segment with goodwill balances and the changes in those balances during the three months ended December 31, 2020 are as follows:

	Reinforcement Materials		Performance Chemicals		Total
	(In millions)
Balance at September 30, 2020	$	46	$	88	$	134
Foreign currency impact		4		4		8
Balance at December 31, 2020	$	50	$	92	$	142

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

	December 31, 2020							September 30, 2020
	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	$	63	$	(9	)	$	54	$	60	$	(8	)	$	52
Trademarks		11		(1	)		10		11		(1	)		10
Customer relationships		61		(18	)		43		56		(15	)		41
Total intangible assets⁽¹⁾	$	135	$	(28	)	$	107	$	127	$	(24	)	$	103

⁽¹⁾The increase in value of Total intangible assets as of December 31, 2020 compared to September 30, 2020 was driven by the impact of foreign currency translation.

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 eighteen years. Amortization expense for the three months ended December 31, 2020 and 2019 was $2 million and $1 million, respectively, and is included in Cost of sales, Selling and administrative expenses, and Research and technical expense in the Consolidated Statements of Operations. Total amortization expense is estimated to be approximately $8 million each year for the next five fiscal years.