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Goodwill and Other Intangible Assets, net (Tables)
 12 Months Ended
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill
Reporting Units
In millionsPerformance MaterialsPerformance ChemicalsAdvanced Polymer TechnologiesTotal
Balance as of December 31, 2022
$4.3 $514.2 $— $518.5 
Segment change reallocation— (165.0)165.0 — 
Foreign currency translation— 0.2 8.8 9.0 
Balance as of December 31, 2023
$4.3 $349.4 $173.8 $527.5 
Goodwill impairment charge— (349.1)— (349.1)
Foreign currency translation— (0.3)(2.9)(3.2)
Balance as of December 31, 2024
Goodwill4.3 349.1 170.9 524.3 
Accumulated impairment losses— (349.1)— (349.1)
$4.3 $— $170.9 $175.2 
Schedule of Finite-Lived Intangible Assets
In millionsCustomer contracts and relationships
Brands (1)
Developed TechnologyTotal
Gross Asset Value
December 31, 2022$388.5 $89.2 $88.5 $566.2 
Foreign currency translation8.0 3.4 3.2 14.6 
December 31, 2023396.5 92.6 91.7 580.8 
Retirements (2)
(129.0)— (1.9)(130.9)
Foreign currency translation(2.6)(1.2)(1.1)(4.9)
December 31, 2024$264.9 $91.4 $88.7 $445.0 
Accumulated Amortization
December 31, 2022$(113.8)$(23.9)$(23.7)$(161.4)
Amortization (4)
(63.5)(5.7)(10.1)(79.3)
Foreign currency translation(2.1)(0.7)(1.2)(4.0)
December 31, 2023(179.4)(30.3)(35.0)(244.7)
Amortization (4)
(38.9)(5.5)(9.9)(54.3)
Retirements (2)
129.0 — 1.9 130.9 
Foreign currency translation0.9 0.4 0.6 1.9 
December 31, 2024$(88.4)$(35.4)$(42.4)$(166.2)
Other intangibles, net (3)
$176.5 $56.0 $46.3 $278.8 
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(1) Represents trademarks, trade names, and know-how.
(2) As a result of the Performance Chemicals repositioning, as further described in Note 15, we retired certain customer contract and relationships, and developed technology finite-lived intangible assets.
(3) The weighted average amortization period remaining for all intangibles is 10.7 years, while the weighted average amortization period remaining for customer contracts and relationships, brands, and developed technology is 11.8 years, 10.4 years, and 7.0 years, respectively.
(4) As a result of the Performance Chemicals repositioning, as further described in Note 15, we accelerated the amortization of certain customer contract and relationship finite-lived intangible assets. This resulted in $22.1 million and $37.4 million of additional expense for the years ended December 31, 2024 and 2023, which is included in Restructuring and other (income) charges, net within the consolidated statements of operations.
Intangible assets subject to amortization were allocated among our business segments as follows:
December 31,
In millions20242023
Performance Materials$1.2 $1.5 
Performance Chemicals (1)
102.5 137.5 
Advanced Polymer Technologies175.1 197.1 
  Other intangibles, net$278.8 $336.1 
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(1) Refer to footnote 4 in the preceding Other Intangible Assets table for more information on the change in amortization in 2024.
Finite-lived Intangible Assets Amortization Expense
The amortization expense related to our intangible assets in the table above is shown in the table below.
Years Ended December 31,
In millions202420232022
Selling, general, and administrative expenses$32.2 $41.9 $33.6 
Restructuring and other (income) charges, net (1)
22.1 37.4 — 
  Total amortization expense$54.3 $79.3 $33.6 
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(1) Amounts recorded to Restructuring and other (income) charges, net are not included within segment depreciation and amortization.