NOTE 4 – GOODWILL

The following table summarizes goodwill at the balance sheet dates:


(in millions)	Total
At December 31, 2016
Gross cost ⁽¹⁾	$	611.3
Accumulated impairment losses		(236.5	)

Net book amount	$	374.8

Acquisition adjustment		(36.7	)
Exchange effect		8.7
At September 30, 2017
Gross cost ⁽¹⁾	$	583.3
Accumulated impairment losses		(236.5	)

Net book amount	$	346.8

⁽¹⁾	Gross cost for 2017 and 2016 is net of $298.5 million of historical accumulated amortization.

Acquisition of Huntsman European Differentiated Surfactants Business

On December 30, 2016 the Company acquired the European Differentiated Surfactants business (“Huntsman”) from Huntsman Investments (Netherlands) B.V. for a total consideration of $200.2 million. During the year we have reviewed the fair values of assets acquired and liabilities assumed resulting in a $36.7 million increase in assets acquired and a corresponding decrease in goodwill. The final working capital adjustments of $2.6 million were agreed in the third quarter of 2017.

The measurement period for the valuation of assets acquired and liabilities assumed ends as soon as information on the facts and circumstances that existed as of the acquisition dates become available but does not exceed twelve months. The final fair value of assets and liabilities has not been determined as at September 30, 2017.

Huntsman, and the associated goodwill and other intangible assets, are included within our Performance Chemicals segment for management and reporting purposes. There is currently no goodwill amortizable for tax purposes.