GOODWILL AND OTHER INTANGIBLE ASSETS (Notes)

12 Months Ended

Dec. 31, 2023

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, 2023 and 2022:

Goodwill	Packaging & Specialty Plastics		Industrial Intermediates & Infrastructure		Performance Materials & Coatings		Total
In millions
Balance at Jan 1, 2022	$	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
Foreign currency impact	3		1		(7)		(3)
Balance at Dec 31, 2023	$	5,103	$	1,094	$	2,444	$	8,641

At December 31, 2023, goodwill was carried by all reporting units except Coatings & Performance Monomers.

Goodwill Impairments

The carrying amounts of goodwill at December 31, 2023 and 2022, 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 2023, 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 2023, 2022, and 2021. 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.

Other Intangible Assets

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

Other Intangible Assets at Dec 31	2023						2022
In millions	Gross Carrying Amount		Accum Amort		Net		Gross Carrying Amount		Accum Amort		Net
Intangible assets:
Developed technology	$	2,634	$	(2,181)	$	453	$	2,651	$	(2,025)	$	626
Software	1,352		(981)		371		1,358		(962)		396
Trademarks/tradenames	352		(346)		6		352		(345)		7
Customer-related	3,108		(1,866)		1,242		3,103		(1,690)		1,413
Total other intangible assets	$	7,446	$	(5,374)	$	2,072	$	7,464	$	(5,022)	$	2,442

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

Amortization Expense	2023		2022		2021
In millions
Other intangible assets, excluding software	$	324	$	336	$	388
Software, included in "Cost of sales"	$	70	$	80	$	90

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
2024	$	379
2025	$	288
2026	$	213
2027	$	178
2028	$	157