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GOODWILL AND INTANGIBLE ASSETS (Tables) | 12 Months Ended
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Dec. 31, 2023
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, 2022 | $ | 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 |
Acquisition of businesses | 10.3 |  |  | — |  |  |  |  | 10.3 |
Currency translation | 20.0 |  |  | 17.1 |  |  |  |  | 37.1 |
Balance at December 31, 2023 | $ | 682.5 |  |  | $ | 1,036.8 |  |  |  |  | $ | 1,719.3 |
Schedule of Indefinite-Lived Intangible Assets | Indefinite and finite-lived intangible assets consisted of the following:
|  | As of December 31, 2023
(In millions) |  | Acquisition Cost |  | Accumulated Amortization |  | Currency Translation |  | Net
Customer relationships |  | $ | 726.2 |  |  | $ | (199.8) |  |  | $ | 20.0 |  |  | $ | 546.4 |
Patents, technology and other |  | 841.8 |  |  | (213.1) |  |  | 22.5 |  |  | 651.2 |
Indefinite-lived trade names |  | 368.0 |  |  | — |  |  | 25.2 |  |  | 393.2 |
Total |  | $ | 1,936.0 |  |  | $ | (412.9) |  |  | $ | 67.7 |  |  | $ | 1,590.8 |
|  | 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 |
Schedule of Finite-lived Intangible Assets | Indefinite and finite-lived intangible assets consisted of the following:
|  | As of December 31, 2023
(In millions) |  | Acquisition Cost |  | Accumulated Amortization |  | Currency Translation |  | Net
Customer relationships |  | $ | 726.2 |  |  | $ | (199.8) |  |  | $ | 20.0 |  |  | $ | 546.4 |
Patents, technology and other |  | 841.8 |  |  | (213.1) |  |  | 22.5 |  |  | 651.2 |
Indefinite-lived trade names |  | 368.0 |  |  | — |  |  | 25.2 |  |  | 393.2 |
Total |  | $ | 1,936.0 |  |  | $ | (412.9) |  |  | $ | 67.7 |  |  | $ | 1,590.8 |
|  | 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 |
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) | 2024 |  | 2025 |  | 2026 |  | 2027 |  | 2028
Expected amortization expense | $ | 77.3 |  |  | $ | 77.3 |  |  | $ | 76.6 |  |  | $ | 74.5 |  |  | $ | 74.0 |

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