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Other Intangible Assets | 6 Months Ended
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Jun. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract] |
Other Intangible Assets | NOTE 5 – OTHER INTANGIBLE ASSETS The following table analyzes other intangible assets movements in the year:
(in millions) |  | 2025 |
Gross cost at January 1 |  | $ | 331.8 |
Additions |  |  | 10.8 |
Exchange effect |  |  | 16.7 |
Gross cost at June 30 |  |  | 359.3 |
Accumulated amortization at January 1 |  |  | (266.4 | )
Amortization expense |  |  | (5.9 | )
Exchange effect |  |  | (8.7 | )
Accumulated amortization at June 30 |  |  | (281.0 | )
Net book amount at June 30 |  | $ | 78.3 |
The amortization expense for the six months ended June 30, 2025 was $5.9 million (six months ended June 30, 2024 – $6.0 million). In 2025, we have capitalized $10.8 million in relation to our internally developed software for a new Enterprise Resource Planning (“ERP”) system covering all our regions. The project is ongoing and is currently expected to complete in 2026. The expenses capitalized include the acquisition costs for the software as well as the external consultancy costs and the internal employee costs relating to the software development.

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