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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 Below is a summary of the change in goodwill during 2024 and 2023.
(Dollars in millions) | Advanced Materials |  | Additives & Functional Products |  | Chemical Intermediates |  | Other |  | Total
Balance at December 31, 2022 | $ | 1,296 |  |  | $ | 1,601 |  |  | $ | 757 |  |  | $ | 10 |  |  | $ | 3,664 |
Adjustments to net goodwill resulting from reorganization (1) | — |  |  | 569 |  |  | (569) |  |  | — |  |  | — |
Acquisition | 34 |  |  | — |  |  | — |  |  | — |  |  | 34 |
Divestiture | — |  |  | — |  |  | (67) |  |  | — |  |  | (67) |
Currency translation and other adjustments | — |  |  | 12 |  |  | 3 |  |  | — |  |  | 15 |
Balance at December 31, 2023 | $ | 1,330 |  |  | $ | 2,182 |  |  | $ | 124 |  |  | $ | 10 |  |  | $ | 3,646 |
Acquisition (2) | 4 |  |  | — |  |  | — |  |  | — |  |  | 4 |
Currency translation and other adjustments | (3) |  |  | (10) |  |  | (5) |  |  | — |  |  | (18) |
Balance at December 31, 2024 | $ | 1,331 |  |  | $ | 2,172 |  |  | $ | 119 |  |  | $ | 10 |  |  | $ | 3,632 |
(1)The amount was determined using the relative fair value approach. Goodwill impacted by the product moves announced in first quarter 2023 was assessed for impairment at the time of the reorganization. (2)Measurement period adjustments related to prior year acquisition. The reported balance of goodwill included accumulated impairment losses of $106 million, $12 million, and $14 million in the AFP segment, Chemical Intermediates ("CI") segment, and other segments, respectively, at both December 31, 2024 and 2023. The carrying amounts of intangible assets follow:
|  |  |  | December 31, 2024 |  | December 31, 2023
(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 | 10 | - | 25 | $ | 1,141 |  |  | $ | 649 |  |  | $ | 492 |  |  | $ | 1,149 |  |  | $ | 592 |  |  | $ | 557 |
Technology | 10 | - | 20 | 519 |  |  | 378 |  |  | 141 |  |  | 527 |  |  | 356 |  |  | 171 |
Other | 16 | - | 37 | 86 |  |  | 36 |  |  | 50 |  |  | 87 |  |  | 34 |  |  | 53 |
Indefinite-lived intangible assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Tradenames |  |  |  | 349 |  |  | — |  |  | 349 |  |  | 350 |  |  | — |  |  | 350 |
Other |  |  |  | — |  |  | — |  |  | — |  |  | 7 |  |  | — |  |  | 7 |
Total identified intangible assets |  |  |  | $ | 2,095 |  |  | $ | 1,063 |  |  | $ | 1,032 |  |  | $ | 2,120 |  |  | $ | 982 |  |  | $ | 1,138 |
Amortization expense of definite-lived intangible assets was $82 million, $86 million, and $87 million for 2024, 2023, and 2022, respectively. Estimated amortization expense for future periods is $80 million in 2025, $77 million in 2026, $70 million in 2027, $66 million in 2028, and $61 million in 2029.

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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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