GOODWILL AND INTANGIBLE ASSETS

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

NOTE 11. GOODWILL AND INTANGIBLE ASSETS

Changes in the carrying value of goodwill were as follows:


	Chlor Alkali Products and Vinyls		Epoxy		Winchester		Total
Goodwill	($ in millions)
Balance at January 1, 2022(1)	$	1,275.6	$	145.0	$	—	$	1,420.6
Foreign currency translation adjustment	0.2		0.1		—		0.3
Balance at December 31, 2022(1)	1,275.8		145.1		—		1,420.9
Goodwill acquired during the year	—		—		2.7		2.7
Foreign currency translation adjustment	0.3		0.1		—		0.4
Balance at December 31, 2023(1)	$	1,276.1	$	145.2	$	2.7	$	1,424.0

(1) Includes cumulative goodwill impairment of $557.6 million and $142.2 million in Chlor Alkali Products and Vinyls and Epoxy, respectively.

Intangible assets consisted of the following:


		December 31,
		2023						2022
	Useful Lives	Gross Amount		Accumulated Amortization		Net		Gross Amount		Accumulated Amortization		Net
Intangible Assets		($ in millions)
Customers, customer contracts and relationships	10-15 Years	$	671.7	$	(437.5)	$	234.2	$	669.1	$	(401.2)	$	267.9
Trade names	7 Years	3.6		(0.2)		3.4		—		—		—
Acquired technology	4-7 Years	94.4		(90.4)		4.0		93.1		(88.3)		4.8
Other	10 Years	4.9		(0.7)		4.2		1.8		(0.7)		1.1
Total intangible assets		$	774.6	$	(528.8)	$	245.8	$	764.0	$	(490.2)	$	273.8

Amortization expense relating to intangible assets was $37.0 million, $55.3 million and $63.1 million in 2023, 2022 and 2021, respectively.

Estimated amortization expense relating to intangible assets for the subsequent five-year periods are as follows:


Estimated Amortization Expense	($ in millions)
2024	$	37.6
2025	37.2
2026	35.5
2027	35.4
2028	35.2

During the fourth quarter of 2023, we performed our qualitative assessment of our intangible assets. Based on our qualitative impairment assessment, it is more likely than not that the fair value of our intangible assets is greater than the carrying amount as of December 31, 2023. No impairment on our intangible assets was recorded in 2023, 2022 or 2021.