GOODWILL AND OTHER INTANGIBLE ASSETS (Notes)

12 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND OTHER INTANGIBLE ASSETS

GOODWILL AND OTHER INTANGIBLE ASSETS

The following table shows changes in the carrying amounts of goodwill by reportable segment for the years ended December 31, 2022 and 2021:

Goodwill	Packaging & Specialty Plastics		Industrial Intermediates & Infrastructure		Performance Materials & Coatings		Total
In millions
Balance at Jan 1, 2021	$	5,115	$	1,100	$	2,693	$	8,908
Foreign currency impact	(10)		(4)		(130)		(144)
Balance at Dec 31, 2021	$	5,105	$	1,096	$	2,563	$	8,764
Foreign currency impact	(5)		(3)		(112)		(120)
Balance at Dec 31, 2022	$	5,100	$	1,093	$	2,451	$	8,644

At December 31, 2022, goodwill was carried by all reporting units except Coatings & Performance Monomers.

Goodwill Impairments

The carrying amounts of goodwill at December 31, 2022 and 2021 were net of accumulated impairments of $309 million in Industrial Intermediates & Infrastructure and $2,530 million in Performance Materials & Coatings.

Goodwill Impairment Testing

The Company performs an impairment test of goodwill annually in the fourth quarter. In 2022, the Company performed qualitative testing for all reporting units that carried goodwill. Based on the results of the qualitative testing, the Company did not perform quantitative testing on any reporting units in 2022 and 2021. Quantitative testing was performed for one reporting unit in 2020. The qualitative testing on the reporting units indicated that it was not more likely than not that fair value was less than the carrying value for the reporting units. The quantitative testing conducted in 2020 concluded that no goodwill impairments existed.

Other Intangible Assets

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

Other Intangible Assets at Dec 31	2022						2021
In millions	Gross Carrying Amount		Accum Amort		Net		Gross Carrying Amount		Accum Amort		Net
Intangible assets:
Developed technology 1	$	2,651	$	(2,025)	$	626	$	2,654	$	(1,871)	$	783
Software	1,358		(962)		396		1,396		(945)		451
Trademarks/tradenames	352		(345)		7		352		(344)		8
Customer-related	3,103		(1,690)		1,413		3,204		(1,565)		1,639
Total other intangible assets	$	7,464	$	(5,022)	$	2,442	$	7,606	$	(4,725)	$	2,881

1.Includes $17 million gross carrying amount in 2022 and 2021 for in-process research and development that has not yet commercialized.

The following table provides information regarding amortization expense related to intangible assets:

Amortization Expense	2022		2021		2020
In millions
Other intangible assets, excluding software	$	336	$	388	$	401
Software, included in "Cost of sales"	$	80	$	90	$	96

Total estimated amortization expense for the next five fiscal years, including amounts expected to be capitalized, is as follows:

Estimated Amortization Expense for Next Five Years
In millions
2023	$	387
2024	$	368
2025	$	278
2026	$	203
2027	$	170