Number of equal annual investments restructuring payment

[Table of Contents](#id353055757fb42afb305a023bc295188_7)The Term Loan Credit Agreement contains certain covenants described in [Note 7](#id353055757fb42afb305a023bc295188_76).As described above, the entry into the Term Loan Credit Agreement reduced availability under the Bridge Facility by $1.5 billion, resulting in $9.5 billion in Bridge Facility commitments remaining as of June 30, 2022. The Company completed offerings of USD- and Euro-denominated notes on July 14, 2022 and July 19, 2022, respectively, reducing the availability of remaining Bridge Facility commitments to $552 million. See [Note 18](#id353055757fb42afb305a023bc295188_142) for further information.During the six months ended June 30, 2022, the Company paid $63 million in fees related to the Bridge Facility commitment, $23 million and $37 million of which were amortized to interest expense in the three and six months ended June 30, 2022, respectively, and $26 million of which were recorded as a deferred asset as of June 30, 2022 and will be amortized to interest expense.Korea Engineering Plastics Co. RestructuringOn April 1, 2022, the Company completed the restructuring of Korea Engineering Plastics Co. ("KEPCO"), a joint venture owned 50% by the Company and 50% by Mitsubishi Gas Chemical Company, Inc. KEPCO was first formed in 1987 to manufacture and market polyoxymethylene ("POM") in Asia, with a particular focus on serving domestic demand in South Korea. KEPCO will now focus solely on manufacturing and supplying high quality products to its stockholders, who will independently market them globally. As part of the restructuring of KEPCO, the Company paid KEPCO $5 million and will pay 5 equal annual installments of €24 million on October 1 of each year beginning in 2022. This resulted in an increase to the Company's investment in KEPCO of $134 million. The Company's joint venture partner will be making similar payments to KEPCO. The restructuring did not result in a change in ownership percentage of KEPCO, nor a change in control, and will continue to be accounted for as an equity method investment.4. Inventories

|  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |
|  | As of June 30, 2022 |  | As of December 31,2021 |
|  | (In $ millions) |
| Finished goods | 1,122  |  |  | 1,014  |  |
| Work-in-process | 85  |  |  | 75  |  |
| Raw materials and supplies | 506  |  |  | 435  |  |
| Total | 1,713  |  |  | 1,524  |  |

5. Goodwill and Intangible Assets, NetGoodwill

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | EngineeredMaterials |  | Acetate Tow |  | Acetyl Chain |  | Total |  |
|  | (In $ millions) |  |
| As of December 31, 2021 | 1,030  |  |  | 149  |  |  | 233  |  |  | 1,412  |  |  |
| Acquisitions ([Note 3](#id353055757fb42afb305a023bc295188_46)) | 2  |  |  | —  |  |  | —  |  |  | 2  |  | (1) |
| Exchange rate changes | (46) |  |  | (2) |  |  | (18) |  |  | (66) |  |  |
| As of June 30, 2022(2) | 986  |  |  | 147  |  |  | 215  |  |  | 1,348  |  |  |

\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_(1)Represents goodwill related to the acquisition of Santoprene.(2)There were no accumulated impairment losses as of June 30, 2022.11
