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Other Intangible Assets
 9 Months Ended
Sep. 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
      2.0  
  
 
 
  
Gross cost at September 30
      296.8  
  
 
 
  
Accumulated amortization at January 1
      (181.3 ) 
Amortization expense
      (16.3 ) 
Impairment
      (19.8 ) 
Exchange effect
      (0.8 ) 
  
 
 
  
Accumulated amortization at September 30
      (218.2 ) 
  
 
 
  
Net book amount at September 30
    $ 78.6  
  
 
 
  
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 nine months ended September 30, 2020 was $16.3 million (nine months ended September 30, 2019 – $17.2 million).
The net book amount by category of other intangible assets is shown in the following table:
 
(in millions)
   
September 30

2020
     
December 31

2019
  
Product rights
    $ 7.2      $ 10.1  
Brand names
      2.5        2.9  
Technology
      20.3        32.6  
Customer relationships
      45.1        60.8  
Internally developed software
      3.5        7.1  
  
 
 
     
 
 
  
   $ 78.6      $ 113.5