Goodwill and Intangible Assets

12 Months Ended

Sep. 30, 2024

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, 2024 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
Foreign currency impact		(3	)		2		(1	)
Balance at September 30, 2024	$	48		$	85	$	133

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


	September 30, 2024							September 30, 2023
	Gross Carrying Value		Accumulated Amortization			Net Intangible Assets		Gross Carrying Value		Accumulated Amortization			Net Intangible Assets
	(In millions)
Developed technologies	$	34	$	(12	)	$	22	$	34	$	(10	)	$	24
Trademarks		2		(1	)		1		2		(1	)		1
Customer relationships		60		(30	)		30		65		(30	)		35
Total intangible assets	$	96	$	(43	)	$	53	$	101	$	(41	)	$	60

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 each of fiscal 2024, 2023 and 2022 was $6 million 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.