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Other Intangible Assets
 6 Months Ended
Jun. 30, 2017
Goodwill and Intangible Assets Disclosure [Abstract]  
Other Intangible Assets

NOTE 5 – OTHER INTANGIBLE ASSETS

The following table summarizes the other intangible assets movement year on year:

 

     Six Months Ended
June 30		  

(in millions)

    2017      2016  

Gross cost at January 1

    $ 248.6      $ 248.6  

Acquisitions

      33.5        0.0  

Exchange effect

      (0.1 )       0.0  
  

 

 

     

 

 

  

Gross cost at June 30

      282.0        248.6  
  

 

 

     

 

 

  

Accumulated amortization at January 1

      (104.2 )       (79.9 ) 

Amortization expense

      (13.7 )       (12.1 ) 

Exchange effect

      0.0        0.0  
  

 

 

     

 

 

  

Accumulated amortization at June 30

      (117.9 )       (92.0 ) 
  

 

 

     

 

 

  

Net book amount at June 30

    $ 164.1      $ 156.6  
  

 

 

     

 

 

  

Acquisitions in the year relate to the allocation of goodwill from the Huntsman acquisition based on our provisional assessment of the fair value of the other intangible assets acquired. These intangible assets relate to customer relationships.

Amortization expense

 

     Six Months Ended
June 30		  

(in millions)

    2017      2016  

Product rights

    $ (1.9 )     $ (1.9 ) 

Brand names

      (0.6 )       (0.6 ) 

Technology

      (1.7 )       (1.7 ) 

Customer relationships

      (5.1 )       (3.4 ) 

Non-compete agreements

      (0.4 )       (0.5 ) 

Marketing related

      (0.4 )       (0.4 ) 

Internally developed software

      (3.6 )       (3.6 ) 
  

 

 

     

 

 

  

Total

    $ (13.7 )     $ (12.1 )