GOODWILL AND OTHER INTANGIBLE ASSETS

12 Months Ended

Dec. 31, 2017

Goodwill and Intangible Assets Disclosure [Abstract]

Changes in the carrying amount of goodwill follow:



(Dollars in millions)	Additives & Functional Products			Adhesives & Plasticizers			Advanced Materials			Chemical Intermediates			Other		Total
Balance at December 31, 2015	$	1,865		$	111		$	1,293		$	1,239		$	10	$	4,518
Transfers of goodwill resulting from resegmentation	583			(111		)	—			(472		)	—		—
Currency translation adjustments	(32		)	—			(18		)	(7		)	—		(57		)
Balance at December 31, 2016	2,416			—			1,275			760			10		4,461
Acquisitions	17			—			—			—			—		17
Goodwill written off as a result of sale of business	(1		)	—			—			—			—		(1		)
Currency translation adjustments	27			—			14			9			—		50
Balance at December 31, 2017	$	2,459		$	—		$	1,289		$	769		$	10	$	4,527

As of December 31, 2017 and 2016, the reported balance of goodwill included accumulated impairment losses of $23 million, $12 million, and $14 million in the Additives & Functions Products ("AFP") segment, Chemical Intermediates ("CI") segment, and other segments, respectively.

The carrying amounts of intangible assets follow:



				December 31, 2017						December 31, 2016
(Dollars in millions)	Estimated Useful Life in Years			Gross Carrying Value		Accumulated Amortization		Net Carrying Value		Gross Carrying Value		Accumulated Amortization		Net Carrying Value
Amortizable intangible assets:
Customer relationships	8	-	25	$	1,583	$	345	$	1,238	$	1,542	$	267	$	1,275
Technology	7	-	20	690		247		443		675		196		479
Contracts		5		180		111		69		180		75		105
Other	5	-	37	102		19		83		99		14		85

Indefinite-lived intangible assets:
Tradenames				530		—		530		525		—		525
Other				10		—		10		10		—		10
Total identified intangible assets				$	3,095	$	722	$	2,373	$	3,031	$	552	$	2,479

Amortization expense of definite-lived intangible assets was $164 million, $166 million, and $163 million for 2017, 2016, and 2015, respectively. Estimated amortization expense for future periods is $165 million in each year for 2018 through 2019 and $125 million in each year for 2020 through 2022.

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

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