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Goodwill and Other Intangible Assets, Net Goodwill and Other Intangible Assets, Net (Notes) | 3 Months Ended
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Mar. 31, 2026
Intangible Asset, Goodwill and Other [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, 2026 were as follows:
(DOLLARS IN MILLIONS) |  |  | Taste |  |  |  | Health & Biosciences |  | Scent |  |  |  |  |  | Total
Balance at January 1, 2026 |  |  | $ | 2,296 |  |  |  |  | $ | 4,465 |  |  | $ | 1,508 |  |  |  |  |  |  | $ | 8,269 |
Foreign exchange |  |  | (20) |  |  |  |  | (22) |  |  | (7) |  |  |  |  |  |  | (49) |
Balance at March 31, 2026 |  |  | $ | 2,276 |  |  |  |  | $ | 4,443 |  |  | $ | 1,501 |  |  |  |  |  |  | $ | 8,220 |
As of January 1, 2025, there is no remaining goodwill attributable to the Food Ingredients reporting unit. Goodwill Impairment Test Effective January 1, 2025, the Company reorganized its Nourish segment into two new reportable segments: Taste and Food Ingredients, to align with changes in the Company’s internal management reporting structure. As a result of this change, goodwill previously allocated to the Nourish reporting unit was reallocated between the new Taste and Food Ingredients reporting units. In accordance with ASC 350, the Company performed a quantitative goodwill impairment test on the former Nourish reporting unit immediately prior to the change, and separately tested goodwill for the new Taste and Food Ingredients reporting units following the reorganization. Based on the results of the impairment testing, the Company determined that the carrying amount of the Food Ingredients reporting unit exceeded its estimated fair value, and accordingly recognized a goodwill impairment charge of $1.153 billion. This charge is reflected in the Consolidated Statements of Income (Loss) and Comprehensive Income (Loss) for the three months ended March 31, 2025. The Company assessed the fair value of the reporting units using an income approach. Under the income approach, the Company determined the fair value by using a discounted cash flow method at a rate of return that reflects the relative risk of the projected future cash flows of each reporting unit, as well as a terminal value. The Company used the most current actual and forecasted operating data available. Key estimates and assumptions used in these valuations include revenue growth rates, gross margins, adjusted operating EBITDA margins, terminal growth rates and discount rates. While management believes that the estimates and assumptions used in the impairment test were reasonable, changes in key assumptions, including lower revenue growth, operating margin, terminal growth rates or increase in discount rates could result in a future impairment of the Taste reporting unit. Such charge could have a material effect on the Consolidated Statements of Operations and Balance Sheets. Other Intangible Assets Other intangible assets, net consisted of the following amounts:
| March 31, |  | December 31,
(DOLLARS IN MILLIONS) | 2026 |  | 2025
Asset Type |  |  |
Customer relationships | $ | 7,162 |  |  | $ | 7,200 |
Technological know-how | 1,988 |  |  | 1,999 |
Trade names & patents | 283 |  |  | 285 |
Other | 24 |  |  | 24 |
Total carrying value | 9,457 |  |  | 9,508 |
Accumulated Amortization |  |  |
Customer relationships | (2,275) |  |  | (2,198) |
Technological know-how | (1,129) |  |  | (1,087) |
Trade names & patents | (165) |  |  | (159) |
Other | (21) |  |  | (21) |
Total accumulated amortization | (3,590) |  |  | (3,465) |
Other intangible assets, net | $ | 5,867 |  |  | $ | 6,043 |
Amortization Amortization expense was $146 million and $143 million for the three months ended March 31, 2026 and 2025, 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 2026 |  | 2027 |  | 2028 |  | 2029 |  | 2030
Estimated future intangible amortization expense | $ | 434 |  |  | $ | 492 |  |  | $ | 478 |  |  | $ | 441 |  |  | $ | 437 |

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- Definition The entire disclosure for intangible asset and goodwill. Includes, but is not limited to, finite- and indefinite-lived intangible assets, capitalized cost for internal-use software and software to be sold, leased, or marketed. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
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