XML 44 R37.htm IDEA: XBRL DOCUMENT  v2.3.0.11
ACQUISITION (Details) (USD $)
In Millions, except Per Share data, unless otherwise specified
1 Months Ended 3 Months Ended 6 Months Ended 1 Months Ended 3 Months Ended 6 Months Ended 12 Months Ended 3 Months Ended 6 Months Ended 12 Months Ended 12 Months Ended
Feb. 28, 2011
Jun. 30, 2010
Jun. 30, 2011
Jun. 30, 2010
Feb. 28, 2011
SunBelt [Member]
Jun. 30, 2011
SunBelt [Member]
Jun. 30, 2011
SunBelt [Member]
Dec. 31, 2011
SunBelt [Member]
Mar. 31, 2011
SunBelt [Member]
Jun. 30, 2011
SunBelt [Member]
Jun. 30, 2010
SunBelt [Member]
Jun. 30, 2011
SunBelt [Member]
Jun. 30, 2010
SunBelt [Member]
Dec. 31, 2011
Guaranteed Senior Secured Notes due 2017, Series O [Member]
Dec. 22, 1997
Guaranteed Senior Secured Notes due 2017, Series O [Member]
Dec. 31, 2011
Guaranteed Senior Secured Notes due 2017, Series G [Member]
Dec. 22, 1997
Guaranteed Senior Secured Notes due 2017, Series G [Member]
Business Acquisition [Line Items]                                  
PolyOne Corporation's interest in SunBelt (in hundredths)         50.00%                        
Cash consideration for SunBelt purchase         $ 132.3                        
Olin's ownership percentage of SunBelt after acquisition of PolyOne's interest (in hundredths)         100.00%                        
Membrane technology capacity of plant         350,000                        
Earn out agreement term         three year                        
Cash remitted to PolyOne for distributable cash generated by SunBelt           6.0                      
Distributable cash non-consolidated affiliate           50.00%                      
Required annual debt repayment for Series O and Series G notes               12.2           6.1   6.1  
Remaining principal balance of consolidated notes           85.3 85.3                    
Previous equity percentage in SunBelt (in hundredths)         50.00%                        
Investment value in SunBelt prior to acquisition         (0.8)                        
Discrete deferred tax expense relating to the SunBelt acquisition             76.0                    
Total current assets         37.6                        
Property, plant and equipment         87.4                        
Deferred income taxes         0.4                        
Other assets         5.8                        
Total assets acquired         131.2                        
Total current liabilities         42.7                        
Long-term debt         75.1                        
Other liabilities         27.6                        
Total liabilities assumed         145.4                        
Less: Investment in SunBelt         (0.8)                        
Net liabilities assumed         (13.4)                        
Liabilities for uncertainties         48.3                        
Gain on remeasurement of investment in SunBelt (181.4)                                
Goodwill         327.1       327.9                
Fair value of assets acquired         180.6                        
Cash and cash equivalents         8.9                        
Current installment of long term debt         12.2                        
Accretion expense for SunBelt earn out           0.7 0.9                    
Equity earnings of nonconsolidated affiliate for Sunbelt         6.3                        
Debt Instrument [Line Items]                                  
Face amount of senior secured notes                             97.5   97.5
Interest rate on SunBelt notes                             7.23%   7.23%
Amount of annual debt repayment attributable to notes               12.2           6.1   6.1  
Finite-Lived Intangible Assets [Line Items]                                  
Final valuation of intangible assets relating to customers, customer contracts and relationships 5.8                                
Estimated useful life of intangible assets 15                                
Tax deductible portion of goodwill 163.7                                
Segment Reporting Information [Line Items]                                  
SunBelt sales                   51.7   66.1          
SunBelt pretax income                   9.3   11.5          
SunBelt pretax income included in Chlor Alkali Products                   11.3   15.0          
SunBelt acquisition costs                       0.8          
Sunbelt interest expense                   1.3   1.8          
Pro forma summary of the condensed statements of income as if the SunBelt acquisition occurred on January 1, 2010                                  
Sales                     447.1 991.4 836.7        
Net income                     26.4 74.5 41.5        
Net income per common share basic (in dollars per share)                     $ 0.33 $ 0.93 $ 0.53        
Net income per common share diluted (in dollars per share)                     $ 0.33 $ 0.92 $ 0.52        
Additional amortization expense related to the fair value of acquired identifiable intangible assets                     0.1 0.1 0.2        
Reduction of depreciation expense related to the fair value adjustment to property, plant and equipment                     1.5 1.0 2.9        
Reduction in interest expense as a result of increasing the carrying value of acquired debt obligations to its estimated fair value                     0.1 0.1 0.2        
Additional accretion expense for the earn out liability that was recorded as a result of the acquisition   0.7 0.4 1.3                          
Deferred tax expense related to the tax effect of gain on the remeasurement of equity interest in SunBelt                       76.0          
Pro forma increase of tax provision due to fair value adjustments                     $ 2.5 $ 2.5 $ 2.7