GOODWILL AND INTANGIBLES

9 Months Ended

Sep. 30, 2016

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLE ASSETS

Changes in the carrying value of goodwill were as follows:



	Chlor Alkali Products and Vinyls			Epoxy			Total
	($ in millions)
Balance at January 1, 2015	$	747.1		$	—		$	747.1
Acquisition activity	—			—			—
Balance at September 30, 2015	$	747.1		$	—		$	747.1
Balance at January 1, 2016	$	1,877.5		$	296.6		$	2,174.1
Acquisition activity	(45.3		)	(9.7		)	(55.0		)
Foreign currency translation adjustment	0.2			0.1			0.3
Balance at September 30, 2016	$	1,832.4		$	287.0		$	2,119.4

Intangible assets consisted of the following:



	September 30, 2016								December 31, 2015								September 30, 2015
	Gross Amount		Accumulated Amortization				Net		Gross Amount		Accumulated Amortization				Net		Gross Amount		Accumulated Amortization				Net
	($ in millions)
Customers, customer contracts and relationships	$	673.3		$	(101.2	)	$	572.1	$	641.0		$	(64.0	)	$	577.0	$	152.9		$	(51.9	)	$	101.0
Trade name	17.9			(9.6		)	8.3		17.9			—			17.9		10.9			—			10.9
Acquired technology	85.1			(12.2		)	72.9		84.7			(2.7		)	82.0		—			—			—
Other	2.3			(1.8		)	0.5		2.3			(1.7		)	0.6		2.3			(1.7		)	0.6
Total intangible assets	$	778.6		$	(124.8	)	$	653.8	$	745.9		$	(68.4	)	$	677.5	$	166.1		$	(53.6	)	$	112.5

In conjunction with the Acquisition, we obtained intangible assets with a fair value of $612.6 million as of October 5, 2015.

Intangible assets with indefinite useful lives are reviewed annually in the fourth quarter and/or when circumstances or other events indicate the indefinite life is no longer supportable. In connection with the integration of the Acquired Business, in the first quarter of 2016, the KA Steel trade name was changed from an indefinite life intangible asset to an intangible asset with a finite useful life of one year. Amortization expense of $2.7 million and $8.2 million was recognized within cost of goods sold for the three and nine months ended September 30, 2016, respectively, related to the change in useful life.

- 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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