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Intangible Assets | 6 Months Ended
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Jun. 30, 2012
Intangible Assets [Abstract] |
INTANGIBLE ASSETS | NOTE 5 – INTANGIBLE ASSETS
|  | Six Months Ended June 30 |
(in millions) |  | 2012 |  |  | 2011 |
Gross cost at January 1 |  | $ | 51.2 |  |  | $ | 48.1 |
Capitalization of internally developed software and other costs |  |  | 3.5 |  |  |  | 0.0 |
Exchange effect |  |  | 0.0 |  |  |  | 0.2 |
Gross cost at June 30 |  |  | 54.7 |  |  |  | 48.3 |
Accumulated amortization at January 1 |  |  | (33.5 | ) |  |  | (29.1 | )
Amortization expense |  |  | (2.0 | ) |  |  | (2.3 | )
Exchange effect |  |  | (0.1 | ) |  |  | (0.1 | )
Accumulated amortization at June 30 |  |  | (35.6 | ) |  |  | (31.5 | )
Net book amount at June 30 |  | $ | 19.1 |  |  | $ | 16.8 |
Ethyl An intangible asset of $22.1 million was previously recognized in respect of Ethyl foregoing their entitlement to a share of the future income stream under the sales and marketing agreements to market and sell TEL. The amount attributed to the Octane Additives reporting segment is being amortized straight-line to December 31, 2013 and the amount attributed to the Fuel Specialties reporting segment is being amortized straight-line to December 31, 2017. An amortization expense of $0.7 million was recognized in the first half year of 2012 (2011 – $1.0 million) in cost of goods sold. Internally developed software and other costs We are continuing with the implementation of a new, company-wide, information system platform. The platform provider is well established in the market. The implementation will be a phased, risk-managed, site deployment and follow a multistage user acceptance program with the existing platform providing a fallback position. Internally developed software and other costs capitalized at June 30, 2012 were $6.6 million (2011 – $0.0 million). No amortization expense was recognized in the first half year of 2012 (2011 – $0.0 million). Others The remaining intangible assets of $26.0 million relate to those recognized in the acquisition accounting in respect of technology, customer relationships and patents. These assets are being amortized straight-line over periods of up to 13 years. In the first half year of 2012 amortization expenses of $0.5 million and $0.8 million were recognized in cost of goods sold and selling, general and administrative expenses, respectively (2011 – $0.5 million and $0.8 million, respectively).

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- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 142 -Paragraph 44, 45, 46 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=7658586&loc=d3e16323-109275 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=7658586&loc=d3e16373-109275 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=7658586&loc=d3e16265-109275 + Details
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