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GOODWILL AND INTANGIBLE ASSETS | 12 Months Ended
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Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND INTANGIBLE ASSETS | Note 3 — GOODWILL AND INTANGIBLE ASSETS 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, 2023 | $ | 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 |
Currency translation | (26.2) |  |  | (33.4) |  |  |  |  | (59.6) |
Balance at December 31, 2024 | $ | 656.3 |  |  | $ | 1,003.4 |  |  |  |  | $ | 1,659.7 |
Indefinite and finite-lived intangible assets consisted of the following:
|  | As of December 31, 2024
(In millions) |  | Acquisition Cost |  | Accumulated Amortization |  | Currency Translation |  | Net
Customer relationships |  | $ | 726.2 |  |  | $ | (234.9) |  |  | $ | (0.4) |  |  | $ | 490.9 |
Patents, technology and other |  | 847.0 |  |  | (255.8) |  |  | (6.1) |  |  | 585.1 |
Indefinite-lived trade names |  | 362.8 |  |  | — |  |  | 11.6 |  |  | 374.4 |
Total |  | $ | 1,936.0 |  |  | $ | (490.7) |  |  | $ | 5.1 |  |  | $ | 1,450.4 |
|  | 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 |
Amortization of finite-lived intangible assets included in continuing operations for the years ended December 31, 2024, 2023 and 2022 was $77.8 million, $79.8 million and $63.6 million, respectively. We expect finite-lived intangibles amortization expense for the next five years as follows:
(In millions) | 2025 |  | 2026 |  | 2027 |  | 2028 |  | 2029
Expected amortization expense | $ | 77.8 |  |  | $ | 77.1 |  |  | $ | 75.0 |  |  | $ | 74.3 |  |  | $ | 73.9 |

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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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