GOODWILL AND INTANGIBLE ASSETS

12 Months Ended

Dec. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

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