ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2013

Accounting Policies [Abstract]

Other Operating Income

Included in other operating income were the following:

	Years Ended December 31,
	2013			2012		2011
	($ in millions)
(Losses) gains on disposition of property, plant and equipment, net	$	(1.1	)	$	2.1	$	1.4
Amortization of 2007 gain on intangible asset sale (recognized through 2012)	—			0.3		1.2
Gains on sale of land	—			—		0.3
Gains on dispositions of former manufacturing facilities	1.5			—		3.7
Gains on insurance recoveries	—			4.9		1.9
Other	0.3			0.3		0.3
Other operating income	$	0.7		$	7.6	$	8.8

Asset retirement obligation activity

The activity of our asset retirement obligation was as follows:

	December 31,
	2013			2012
	($ in millions)
Beginning balance	$	67.8		$	67.9
Accretion	3.3			4.8
Spending	(11.3		)	(8.0		)
Currency translation adjustments	(0.6		)	0.2
KA Steel acquisition	—			0.4
Adjustments	1.6			2.5
Ending balance	$	60.8		$	67.8

Schedule of Goodwill

Changes in the carrying value of goodwill were as follows:

	Chlor Alkali Products		Chemical Distribution		Total
	($ in millions)
Balance at January 1, 2012	$	627.4	$	—	$	627.4
Acquisition activity	—		119.7		119.7
Balance at December 31, 2012	627.4		119.7		747.1
Acquisition activity	—		—		—
Balance at December 31, 2013	$	627.4	$	119.7	$	747.1

Other Assets

Included in other assets were the following:

	December 31,
	2013		2012
	($ in millions)
Investments in non-consolidated affiliates	$	21.6	$	29.3
Intangible assets (less accumulated amortization of $28.0 million and $13.4 million, respectively)	138.1		152.7
Deferred debt issuance costs	14.4		17.5
Interest rate swaps	5.9		8.3
Other	33.1		16.3
Other assets	$	213.1	$	224.1

Schedule of Intangible Assets by Major Class

Intangible assets consisted of the following:

		December 31,
		2013							2012
	Useful Lives	Gross Amount		Accumulated Amortization			Net		Gross Amount		Accumulated Amortization			Net
		($ in millions)
Customers, customer contracts and relationships	(10-15 years)	$	152.9	$	(26.6	)	$	126.3	$	152.9	$	(12.2	)	$	140.7
KA Steel trade name	(indefinite)	10.9		—			10.9		10.9		—			10.9
Other	(4-10 years)	2.3		(1.4		)	0.9		2.3		(1.2		)	1.1
Total intangible assets		$	166.1	$	(28.0	)	$	138.1	$	166.1	$	(13.4	)	$	152.7

Schedule of assumptions for the Black-Scholes option pricing model

The fair value of each option granted, which typically vests ratably over three years, but not less than one year, was estimated on the date of grant, using the Black-Scholes option-pricing model with the following weighted-average assumptions:

	2013			2012			2011
Dividend yield	3.44		%	3.65		%	4.32		%
Risk-free interest rate	1.35		%	1.36		%	3.05		%
Expected volatility	43		%	43		%	42		%
Expected life (years)	7.0			7.0			7.0
Grant fair value (per option)	$	7.05		$	6.55		$	5.48
Exercise price	$	23.28		$	21.92		$	18.78
Shares granted	621,000			480,250			575,000