Goodwill and Intangible Assets

9 Months Ended

Sep. 30, 2011

Goodwill and Intangible Assets Disclosure [Abstract]

The changes in the carrying amount of goodwill by business segment for the nine months ended September 30, 2011, are presented in the table below:



(in Millions)	Agricultural Products		Specialty Chemicals		Industrial Chemicals		Total
Balance, December 31, 2010	$	2.8	$	191.0	$	0.6	$	194.4
Acquisitions	4.2		—		—		4.2
Foreign Currency Adjustments	—		5.6		—		5.6
Balance, September 30, 2011	$	7.0	$	196.6	$	0.6	$	204.2

Acquisitions for the nine months ended September 30, 2011, related to the Ruralco acquisition, which is described in Note 3.

Our indefinite life intangible assets totaled $2.4 million at September 30, 2011 and December 31, 2010. The indefinite life intangible assets consist of trade names in our Agricultural Products segment.

Our finite-lived intangible assets totaled $55.4 million and $51.6 million at September 30, 2011 and December 31, 2010, respectively. At September 30, 2011, these finite-lived intangibles were allocated among our business segments as follows: $36.4 million in Agricultural Products, $18.1 million in Specialty Chemicals and $0.9 million in Industrial Chemicals. Finite-lived intangible assets consist primarily of patents, customer relationships, access and registration rights, industry licenses, developed formulations and other intangibles which are included in “Other assets” in the condensed consolidated balance sheets. The increase in finite-lived intangible assets during the nine months ended September 30, 2011 was primarily due to the purchase of certain intangible assets from a third party, the acquisition of Ruralco in our Agricultural Products segment and foreign currency translation. Amortization was not significant in the periods presented.

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

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