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Commitments and Contingencies | 12 Months Ended
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Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract] |
Commitments and Contingencies | Commitments and Contingencies Capital commitments At December 31, 2019, the Company had capital expenditure commitments of $1.0 million (2018: $2.5 million and 2017: $0.6 million) for the acquisition of new plant and equipment. Committed banking facilities At December 31, 2019 and 2018 the Company had committed banking facilities of $150.0 million. The facilities were for providing loans, with a separate facility for letters of credit which at December 31, 2019, was £1.0 million ($1.3 million), 2018 was £7.0 million ($8.9 million). Of the committed facilities, $17.5 million was drawn, no loans were drawn and no letters of credit were utilized at December 31, 2019, $3.5 million, nil and nil for 2018. The Company also has two separate bonding facilities for bank guarantees, one denominated in GBP sterling of £4.5 million ($5.9 million), 2018:£3.0 million ($3.8 million), of which £1.5 million ($2.3 million) (2018: £1.5 million / $1.9 million) was utilized at December 31, 2019 and one denominated in USD of $0.4 million which was fully utilized at December 31,2019. Contingencies During February 2014, a cylinder was sold to a long-term customer and ruptured at one of their gas facilities. As a result of this rupture, three people were noted to have minor injuries such as loss of hearing. There was no major damage to assets of the customer. A claim has been launched by the three people who were injured in the incident. We have reviewed our quality control checks from around the time which the cylinder was produced and no instances of failures have been noted. It has also been noted by the investigator that the customer has poor quality and safety checks. As a result we do not believe that we are liable for the incident, and therefore, do not currently expect this case to have a material impact on the Company's financial position or results of operations.

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- Definition The entire disclosure for commitments and contingencies. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 450 -URI http://asc.fasb.org/topic&trid=2127136 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 440 -URI http://asc.fasb.org/topic&trid=2144648 + Details
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