Other Intangible Assets

9 Months Ended

Sep. 30, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

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		17.0
Exchange effect		17.8
Gross cost at September 30		366.6
Accumulated amortization at January 1		(266.4	)
Amortization expense		(9.3	)
Impairment		(19.1	)
Exchange effect		(8.5	)
Accumulated amortization at September 30		(303.3	)
Net book amount at September 30	$	63.3

The amortization expense for the nine months ended September 30, 2025 was $9.3 million (nine months ended September 30, 2024 – $9.6 million).

In 2025, we have capitalized $17.0 million in relation to the development of our internal-use software for a new Enterprise Resource Planning (“ERP”) system across all our regions. The project is ongoing and is currently expected to be completed 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 software development.

During the quarter ended September 30, 2025, the Company impaired the intangible assets arising from the acquisition of Química Geral S.A (“QGP”), within its Performance Chemicals segment, and Independence Oilfield Chemicals LLC and Bachman Services LLC., within its Oilfield Services segment. The impaired assets totaled $19.1 million and relate to product technology and customer relationships, which are no longer expected to generate sufficient discounted cash flows to support the valuations due to an expected lack of near-term recovery in QGP, our Mexican oilfield production business and our US stimulation business.