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GOODWILL AND INTANGIBLE ASSETS (Tables) | 12 Months Ended
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Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of Goodwill and Changes in Carrying Amount of Goodwill by Operating Segment | Changes in the carrying amount of goodwill by segment were as follows:
(In millions) | Specialty Engineered Materials |  | Color, Additives and Inks |  |  |  | Total
Balance at January 1, 2021 | $ | 237.8 |  |  | $ | 1,068.7 |  |  |  |  | $ | 1,306.5 |
Acquisition of businesses | — |  |  | 14.1 |  |  |  |  | 14.1 |
Currency translation | (1.5) |  |  | (34.3) |  |  |  |  | (35.8) |
Balance at December 31, 2021 | 236.3 |  |  | 1,048.5 |  |  |  |  | 1,284.8 |
Acquisition of businesses | 396.5 |  |  | — |  |  |  |  | 396.5 |
Currency translation | 19.4 |  |  | (28.8) |  |  |  |  | (9.4) |
Balance at December 31, 2022 | $ | 652.2 |  |  | $ | 1,019.7 |  |  |  |  | $ | 1,671.9 |
Schedule of Indefinite-Lived Intangible Assets | Indefinite and finite-lived intangible assets consisted of the following:
|  | As of December 31, 2022
(In millions) |  | Acquisition Cost |  | Accumulated Amortization |  | Currency Translation |  | Net
Customer relationships |  | $ | 695.9 |  |  | $ | (164.3) |  |  | $ | 5.9 |  |  | $ | 537.5 |
Patents, technology and other |  | 841.8 |  |  | (168.8) |  |  | 3.5 |  |  | 676.5 |
Indefinite-lived trade names |  | 368.0 |  |  |  |  | 15.6 |  |  | 383.6 |
Total |  | $ | 1,905.7 |  |  | $ | (333.1) |  |  | $ | 25.0 |  |  | $ | 1,597.6 |
|  | As of December 31, 2021
(In millions) |  | Acquisition Cost |  | Accumulated Amortization |  | Currency Translation |  | Net
Customer relationships |  | $ | 507.2 |  |  | $ | (135.4) |  |  | $ | 6.0 |  |  | $ | 377.8 |
Patents, technology and other |  | 566.7 |  |  | (134.3) |  |  | 1.8 |  |  | 434.2 |
Indefinite-lived trade names |  | 113.2 |  |  | — |  |  | — |  |  | 113.2 |
Total |  | $ | 1,187.1 |  |  | $ | (269.7) |  |  | $ | 7.8 |  |  | $ | 925.2 |
Schedule of Finite-lived Intangible Assets | Indefinite and finite-lived intangible assets consisted of the following:
|  | As of December 31, 2022
(In millions) |  | Acquisition Cost |  | Accumulated Amortization |  | Currency Translation |  | Net
Customer relationships |  | $ | 695.9 |  |  | $ | (164.3) |  |  | $ | 5.9 |  |  | $ | 537.5 |
Patents, technology and other |  | 841.8 |  |  | (168.8) |  |  | 3.5 |  |  | 676.5 |
Indefinite-lived trade names |  | 368.0 |  |  |  |  | 15.6 |  |  | 383.6 |
Total |  | $ | 1,905.7 |  |  | $ | (333.1) |  |  | $ | 25.0 |  |  | $ | 1,597.6 |
|  | As of December 31, 2021
(In millions) |  | Acquisition Cost |  | Accumulated Amortization |  | Currency Translation |  | Net
Customer relationships |  | $ | 507.2 |  |  | $ | (135.4) |  |  | $ | 6.0 |  |  | $ | 377.8 |
Patents, technology and other |  | 566.7 |  |  | (134.3) |  |  | 1.8 |  |  | 434.2 |
Indefinite-lived trade names |  | 113.2 |  |  | — |  |  | — |  |  | 113.2 |
Total |  | $ | 1,187.1 |  |  | $ | (269.7) |  |  | $ | 7.8 |  |  | $ | 925.2 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense | We expect finite-lived intangibles amortization expense for the next five years as follows:
(In millions) | 2023 |  | 2024 |  | 2025 |  | 2026 |  | 2027
Expected Amortization Expense | $ | 76.3 |  |  | $ | 75.8 |  |  | $ | 75.8 |  |  | $ | 75.1 |  |  | $ | 72.9 |

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