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Goodwill and Other Intangible Assets | 12 Months Ended
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Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Other Intangible Assets | Goodwill and Other Intangible Assets Goodwill The following table shows the carrying amount of goodwill by reportable segment as of December 31, 2024 and 2023:
| Ammonia |  | Granular Urea |  | UAN |  | AN |  | Other |  | Total
| (in millions)
Balance as of December 31, 2023 | $ | 983 |  |  | $ | 828 |  |  | $ | 576 |  |  | $ | 69 |  |  | $ | 39 |  |  | $ | 2,495 |
Acquisition(1) | (2) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (2) |
Effect of exchange rate changes | (1) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (1) |
Balance as of December 31, 2024 | $ | 980 |  |  | $ | 828 |  |  | $ | 576 |  |  | $ | 69 |  |  | $ | 39 |  |  | $ | 2,492 |
_______________________________________________________________________________ (1)See Note 6—Acquisition of Waggaman Ammonia Production Facility for additional information. Other Intangible Assets All of our identifiable intangible assets have definite lives and are presented on our consolidated balance sheets at gross carrying amount, net of accumulated amortization, as follows:
| December 31, 2024 |  | December 31, 2023
| Gross Carrying Amount |  | Accumulated Amortization |  | Net |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net
| (in millions)
Customer relationships | $ | 505 |  |  | $ | (66) |  |  | $ | 439 |  |  | $ | 505 |  |  | $ | (40) |  |  | $ | 465 |
Personal property tax agreement | 71 |  |  | (6) |  |  | 65 |  |  | 71 |  |  | — |  |  | 71 |
Carbon credits | 3 |  |  | — |  |  | 3 |  |  | 2 |  |  | — |  |  | 2 |
Total intangible assets | $ | 579 |  |  | $ | (72) |  |  | $ | 507 |  |  | $ | 578 |  |  | $ | (40) |  |  | $ | 538 |
In connection with our acquisition of the Waggaman ammonia production facility on December 1, 2023, we recorded $526 million of intangible assets, including $455 million of customer relationships and $71 million related to a favorable personal property tax agreement. See Note 6—Acquisition of Waggaman Ammonia Production Facility for additional information. Our customer relationships are being amortized over a weighted-average life of approximately 20 years. For the years ended December 31, 2024, 2023 and 2022, amortization expense of our customer relationships was $26 million, $5 million and $3 million, respectively. Estimated amortization expense related to customer relationships for each of the fiscal years from 2025 to 2029 is approximately $26 million. The intangible asset related to the favorable personal property tax agreement is being amortized over the agreement’s remaining term of approximately 12 years. Estimated amortization expense related to this intangible asset for each of the fiscal years from 2025 to 2029 is approximately $6 million. In June 2022, we approved and announced our proposed plan to restructure our U.K. operations, including the planned permanent closure of our Ince facility and optimization of the remaining manufacturing operations at our Billingham facility. As a result, in the second quarter of 2022, we recorded an intangible asset impairment charge of $8 million related to trade names. In the third quarter of 2022, the United Kingdom continued to experience extremely high and volatile natural gas prices. Given the increase in the price of natural gas in the United Kingdom and the lack of a corresponding increase in global nitrogen product market prices, in September 2022, we temporarily idled ammonia production at our Billingham complex. As a result, we concluded that an additional impairment test was triggered for the asset groups that comprise the continuing U.K. operations, which resulted in asset impairment charges of $87 million in our U.K. Ammonia and U.K. AN asset groups, of which $15 million related to intangible assets, consisting of $6 million related to customer relationships and $9 million related to trade names. As a result of these impairment charges, intangible assets related to our U.K. operations were fully written off. See Note 7—United Kingdom Operations Restructuring and Impairment Charges for additional information.

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- Definition The entire disclosure for goodwill and intangible assets. + 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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