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Goodwill and Other Intangible Assets, Net (Tables) | 6 Months Ended
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Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of Movements in Goodwill | Movements in goodwill attributable to each reportable segment for the six months ended June 30, 2024 were as follows:
(DOLLARS IN MILLIONS) | Nourish |  | Health & Biosciences |  | Scent |  | Pharma Solutions |  |  |  | Total
Balance at January 1, 2024 | $ | 3,489 |  |  | $ | 4,391 |  |  | $ | 1,490 |  |  | $ | 1,265 |  |  |  |  | $ | 10,635 |
Transferred to assets held for sale(1) | (55) |  |  | — |  |  | — |  |  | (1,172) |  |  |  |  | (1,227) |
Foreign exchange | (45) |  |  | (49) |  |  | (12) |  |  | (20) |  |  |  |  | (126) |
Balance at June 30, 2024 | $ | 3,389 |  |  | $ | 4,342 |  |  | $ | 1,478 |  |  | $ | 73 |  |  |  |  | $ | 9,282 |
_______________________ (1)Recognized $64 million of impairment related to the Pharma Solutions disposal group classified as held for sale as of June 30, 2024. See Note 3 for additional information. The goodwill balances at January 1, 2024 and June 30, 2024 included $2.623 billion and $2.250 billion of accumulated impairment related to the Nourish and Health & Biosciences reportable segments, respectively. The accumulated impairment relates to impairment charges recorded in 2023 and 2022.
Schedule of Other Intangible Assets, Net | Other intangible assets, net consisted of the following amounts:
| June 30, |  | December 31,
(DOLLARS IN MILLIONS) | 2024 |  | 2023
Asset Type |  |  |
Customer relationships | $ | 7,176 |  |  | $ | 8,211 |
Technological know-how | 1,987 |  |  | 2,355 |
Trade names & patents | 280 |  |  | 337 |
Other | 25 |  |  | 44 |
Total carrying value | 9,468 |  |  | 10,947 |
Accumulated Amortization |  |  |
Customer relationships | (1,642) |  |  | (1,619) |
Technological know-how | (804) |  |  | (813) |
Trade names & patents | (119) |  |  | (117) |
Other | (22) |  |  | (41) |
Total accumulated amortization | (2,587) |  |  | (2,590) |
Other intangible assets, net | $ | 6,881 |  |  | $ | 8,357 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense | Amortization expense for the next five years, based on valuations and determinations of useful lives, is expected to be as follows:
(DOLLARS IN MILLIONS) | Remainder of 2024 |  | 2025 |  | 2026 |  | 2027 |  | 2028
Estimated future intangible amortization expense | $ | 291 |  |  | $ | 580 |  |  | $ | 578 |  |  | $ | 492 |  |  | $ | 479 |

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