Goodwill and Other Intangible Assets, Net Goodwill and Other Intangible Assets, Net (Notes)

3 Months Ended

Mar. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets, Net

GOODWILL AND OTHER INTANGIBLE ASSETS, NET

Goodwill

Movements in goodwill attributable to each reportable segment for the three months ended March 31, 2023 were as follows:

(DOLLARS IN MILLIONS)	Nourish		Health & Biosciences		Scent		Pharma Solutions		Total
Balance at December 31, 2022	$	6,050	$	4,321	$	1,745	$	1,239	$	13,355
Transferred to assets held for sale	(4)		—		—		—		(4)
Foreign exchange	50		32		11		14		107
Balance at March 31, 2023	$	6,096	$	4,353	$	1,756	$	1,253	$	13,458

Other Intangible Assets

Other intangible assets, net consisted of the following amounts:

	March 31,		December 31,
(DOLLARS IN MILLIONS)	2023		2022
Asset Type
Customer relationships	$	8,367	$	8,318
Technological know-how	2,356		2,339
Trade names & patents	360		358
Other	49		47
Total carrying value	11,132		11,062
Accumulated Amortization
Customer relationships	(1,366)		(1,252)
Technological know-how	(648)		(589)
Trade names & patents	(106)		(97)
Other	(44)		(42)
Total accumulated amortization	(2,164)		(1,980)
Other intangible assets, net	$	8,968	$	9,082

Amortization

Amortization expense was $171 million and $186 million for the three months ended March 31, 2023 and 2022, respectively.

Amortization expense for the next five years is expected to be as follows:

(DOLLARS IN MILLIONS)	2023		2024		2025		2026		2027
Estimated future intangible amortization expense	$	527	$	702	$	699	$	697	$	598