Goodwill and Intangible Assets

12 Months Ended

Sep. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Note G. Goodwill and Intangible Assets

The carrying amount of goodwill attributable to each reportable segment with goodwill balances and the changes in those balances during the fiscal year ended September 30, 2023 are as follows:


	Reinforcement Materials		Performance Chemicals		Total
	(In millions)
Balance at September 30, 2022	$	46	$	83	$	129
Foreign currency impact		5		—		5
Balance at September 30, 2023	$	51	$	83	$	134

The following table provides information regarding the Company’s intangible assets with finite lives:


	September 30, 2023							September 30, 2022
	Gross Carrying Value		Accumulated Amortization			Net Intangible Assets		Gross Carrying Value		Accumulated Amortization			Net Intangible Assets
	(In millions)
Developed technologies	$	34	$	(10	)	$	24	$	34	$	(8	)	$	26
Trademarks		2		(1	)		1		2		(1	)		1
Customer relationships		65		(30	)		35		59		(23	)		36
Total intangible assets	$	101	$	(41	)	$	60	$	95	$	(32	)	$	63

Intangible assets are amortized over their estimated useful lives, which range between ten and twenty-five years, with a weighted average amortization period of seventeen years. Amortization expense for fiscal 2023, 2022 and 2021 was $6 million, $6 million and $8 million, respectively, and is included in Cost of sales, Selling and administrative expenses and Research and technical expenses in the Consolidated Statements of Operations. Total amortization expense is estimated to be approximately $6 million each year for the next five fiscal years.