Huntsman Corporation Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Note 10 - Intangible Assets

Note 10 - Intangible Assets

12 Months Ended

Dec. 31, 2020

Notes to Financial Statements

Intangible Assets Disclosure [Text Block]

10. INTANGIBLE ASSETS

The gross carrying amount and accumulated amortization of intangible assets were as follows (dollars in millions):

Huntsman Corporation

	*December 31, 2020*						*December 31, 2019*
	*Carrying*		*Accumulated*				*Carrying*		*Accumulated*
	*Amount*		*Amortization*		*Net*		*Amount*		*Amortization*		*Net*
Patents, trademarks and technology	$	316	$	237	$	79	$	314	$	230	$	84
Licenses and other agreements		140		61		79		140		48		92
Non-compete agreements		3		2		1		3		2		1
Other intangibles(1)		349		55		294		61		41		20
Total	$	808	$	355	$	453	$	518	$	321	$	197

Amortization expense was $33 million, $16 million and $6 million for the years ended December 31, 2020, 2019 and 2018, respectively.

Huntsman International

	*December 31, 2020*						*December 31, 2019*
	*Carrying*		*Accumulated*				*Carrying*		*Accumulated*
	*Amount*		*Amortization*		*Net*		*Amount*		*Amortization*		*Net*
Patents, trademarks and technology	$	316	$	237	$	79	$	314	$	230	$	84
Licenses and other agreements		140		61		79		140		48		92
Non-compete agreements		3		2		1		3		2		1
Other intangibles(1)		357		63		294		70		50		20
Total	$	816	$	363	$	453	$	527	$	330	$	197

Amortization expense was $33 million, $16 million and $6 million for the years ended December 31, 2020, 2019 and 2018, respectively.

(1)

Includes provisional intangible asset fair values related to the CVC Thermoset Specialties Acquisition and the Icynene-Lapolla Acquisition. For more information, see “Note 3. Business Combinations and Acquisitions."

Our and Huntsman International’s estimated future amortization expense for intangible assets over the next five years is as follows (dollars in millions):

Year ending December 31,
2021	$	30
2022		34
2023		34
2024		34
2025		34