Goodwill and Intangible Assets

9 Months Ended

Jun. 30, 2022

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 nine months ended June 30, 2022 are as follows:

	Reinforcement Materials			Performance Chemicals			Total
	(In millions)
Balance at September 30, 2021	$	48		$	92		$	140
Foreign currency impact		(1	)		(3	)		(4	)
Balance at June 30, 2022	$	47		$	89		$	136

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

	June 30, 2022							September 30, 2021
	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	$	35	$	(8	)	$	27	$	62	$	(12	)	$	50
Trademarks		3		(1	)		2		11		(1	)		10
Customer relationships		60		(22	)		38		60		(20	)		40
Total intangible assets	$	98	$	(31	)	$	67	$	133	$	(33	)	$	100

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 seventeen years. Amortization expense was $1 million and $2 million for the three months ended June 30, 2022 and 2021, respectively, and $5 million and $6 million for the nine months ended June 30, 2022 and 2021, respectively. 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.