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Other Intangible Assets | 6 Months Ended
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Jun. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract] |
Other Intangible Assets | NOTE 6 – OTHER INTANGIBLE ASSETS The following table summarizes the other intangible assets movements:
(in millions) |  | 2020 |
Gross cost at January 1 |  | $ | 294.8 |
Exchange effect |  |  | 0.1 |
Gross cost at June 30 |  |  | 294.9 |
Accumulated amortization at January 1 |  |  | (181.3 | )
Amortization expense |  |  | (11.5 | )
Impairment |  |  | (19.8 | )
Exchange effect |  |  | 0.0 |
Accumulated amortization at June 30 |  |  | (212.6 | )
Net book amount at June 30 |  | $ | 82.3 |
During the quarter ended June 30, 2020, the Company impaired the intangible assets arising from the acquisition of Strata Control Services Inc., which forms part of our Oilfield Services segment. The impairment review was triggered by the reduction in demand for drilling related products. A discounted cash flow analysis was performed to determine the fair value of the assets, linked to the down turn in the results of that segment. The impaired assets relate to technology ($10.0 million) and customer relationships ($9.8 million). The amortization expense for the six months ended June 30, 2020 was $11.5 million (six months ended June 30, 2019 – $11.5 million). The net book amount by category of other intangible assets is shown in the following table:
(in millions) |  | June 30 2020 |  |  | December 31 2019 |
Product rights |  | $ | 8.2 |  |  | $ | 10.1 |
Brand names |  |  | 2.6 |  |  |  | 2.9 |
Technology |  |  | 20.9 |  |  |  | 32.6 |
Customer relationships |  |  | 45.8 |  |  |  | 60.8 |
Internally developed software |  |  | 4.8 |  |  |  | 7.1 |
|  | $ | 82.3 |  |  | $ | 113.5 |

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- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
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