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Goodwill and Other Intangible Assets, Net (Tables)
 9 Months Ended
Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Movements in Goodwill
Movements in goodwill attributable to each reportable segment for the nine months ended September 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)— — (1,248)(1,303)
Reduction from business divestitures(2)
(10)— — — (10)
Foreign exchange20 20 4 (17)27 
Balance at September 30, 2024$3,444 $4,411 $1,494 $— $9,349 
_______________________
(1)Recognized $64 million of impairment related to the Pharma Solutions disposal group classified as held for sale as of September 30, 2024. See Note 3 for additional information.
(2)Relates to the divestiture of the Flavors & Essences UK business. See Note 3 for additional information.
The goodwill balances at January 1, 2024 and September 30, 2024 included $2.623 billion and $2.250 billion of accumulated impairment related to the Nourish and Health & Biosciences reportable segments. 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:
September 30,December 31,
(DOLLARS IN MILLIONS)20242023
Asset Type
Customer relationships$7,209 $8,211 
Technological know-how1,992 2,355 
Trade names & patents277 337 
Other25 44 
Total carrying value 9,503 10,947 
Accumulated Amortization
Customer relationships(1,733)(1,619)
Technological know-how(853)(813)
Trade names & patents(126)(117)
Other(21)(41)
Total accumulated amortization(2,733)(2,590)
Other intangible assets, net$6,770 $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 20242025202620272028
Estimated future intangible amortization expense$146 $583 $580 $493 $480