Goodwill (Tables)

12 Months Ended

Dec. 31, 2013

The following table analyzes goodwill for 2013 and 2012.


(in millions)	Fuel Specialties		Performance Chemicals		Octane Additives			Total
At January 1, 2012
Gross cost ⁽¹⁾	$	108.8	$	30.1	$	236.6		$	375.5
Accumulated impairment losses		0.0		0.0		(234.0	)		(234.0	)

Net book amount		108.8		30.1		2.6			141.5

Exchange effect		0.1		0.0		(0.1	)		0.0
Acquisitions		8.7		0.0		0.0			8.7
Impairment losses		0.0		0.0		(1.2	)		(1.2	)

At December 31, 2012
Gross cost ⁽¹⁾		117.6		30.1		236.5			384.2
Accumulated impairment losses		0.0		0.0		(235.2	)		(235.2	)

Net book amount		117.6		30.1		1.3			149.0

Exchange effect		0.0		0.0		0.0			0.0
Acquisitions		22.9		16.7		0.0			39.6
Adjustments to purchase price allocation		0.6		0.0		0.0			0.6
Impairment losses		0.0		0.0		(1.3	)		(1.3	)

At December 31, 2013
Gross cost ⁽¹⁾		141.1		46.8		236.5			424.4
Accumulated impairment losses		0.0		0.0		(236.5	)		(236.5	)

Net book amount	$	141.1	$	46.8	$	0.0		$	187.9

(1)	Gross cost is net of $8.7 million, $0.3 million and $289.5 million of historical accumulated amortization in respect of the Fuel Specialties, Performance Chemicals and Octane Additives reporting segments, respectively.

Schedule of Pro Forma Financial Information

For illustrative purposes only pro forma information of the enlarged group is provided below but is not necessarily indicative of what the financial position or results of operations would have been had the acquisitions of Strata, Chemsil, Chemtec and Bachman been completed as of January 1, 2012. In addition, the unaudited pro forma financial information is not indicative of, nor does it purport to project, the future financial position of operating results of the enlarged group.


(in millions, except per share data)	2013		2012
Net sales	$	913.1	$	904.6
Net income	$	85.1	$	77.2
Earnings per share – basic	$	3.42	$	3.33
– diluted	$	3.36	$	3.24

Bachman Group Companies [Member]

Schedule of Consolidated Income Statement Included Revenue and Earnings

Included in the consolidated income statement of the Company since the acquisition date, are the following revenue and earnings for Bachman combined:


(in millions)	Bachman
Net sales	$	9.7
Net income	$	0.3

Purchase Price and Fair Values of Assets Acquired and Liabilities Assumed

The following table summarizes the calculations of the total purchase price and the estimated allocation of the purchase price to the assets acquired and liabilities assumed for Bachman. The purchase price allocation is not yet complete as we are in the process of finalising the valuation of the assets acquired. Final determination of the fair values may result in adjustments to the amounts presented below:


(in millions)	Bachman
Other intangible assets	$	25.9
Goodwill		22.9
Deferred tax on intangibles		(7.6	)
Other net assets acquired, excluding cash of $2.0m		17.6

Purchase price, net of cash acquired	$	58.8

Chemsil & Chemtec [Member]

Schedule of Consolidated Income Statement Included Revenue and Earnings

Included in the consolidated income statement of the Company since the acquisition date, are the following revenue and earnings for Chemsil and Chemtec combined:


(in millions)	Chemsil & Chemtec
Net sales	$	11.8
Net income	$	1.0

Purchase Price and Fair Values of Assets Acquired and Liabilities Assumed

The following table summarizes the calculations of the total purchase price and the allocation of the purchase price to the assets acquired and liabilities assumed for Chemsil and Chemtec, which is now complete:


(in millions)	Chemsil & Chemtec
Other intangible assets	$	34.0
Goodwill		16.7
Other net assets, excluding cash of $1.3m		6.7

Purchase price, net of cash acquired	$	57.4