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Goodwill and Other Intangible Assets, Net Goodwill and Other Intangible Assets, Net (Notes)
 6 Months Ended
Jun. 30, 2024
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 six months ended June 30, 2024 were as follows:
(DOLLARS IN MILLIONS)NourishHealth & BiosciencesScentPharma SolutionsTotal
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.
Other Intangible Assets
Other intangible assets, net consisted of the following amounts:
June 30,December 31,
(DOLLARS IN MILLIONS)20242023
Asset Type
Customer relationships$7,176 $8,211 
Technological know-how1,987 2,355 
Trade names & patents280 337 
Other25 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 
Amortization
Amortization expense was $153 million and $172 million for the three months ended June 30, 2024 and 2023, respectively, and $321 million and $343 million for the six months ended June 30, 2024 and 2023, respectively.
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 20242025202620272028
Estimated future intangible amortization expense$291 $580 $578 $492 $479