OTHER ASSETS

6 Months Ended

Jun. 30, 2021

NOTE 6. OTHER ASSETS

Included in other assets were the following:


	June 30, 2021		December 31, 2020		June 30, 2020
	($ in millions)
Supply contracts	$	1,091.0	$	1,122.9	$	1,137.9
Other	74.9		68.4		41.8
Other assets	$	1,165.9	$	1,191.3	$	1,179.7

We have entered into various arrangements for the long-term supply of ethylene and electricity. A payment of $461.0 million was made during the second quarter of 2020 associated with a previously executed option to reserve additional ethylene at producer economics from The Dow Chemical Company (Dow). The original liability was discounted and recorded at present value as of March 31, 2017. For the six months ended June 30, 2020, $4.0 million of interest expense was recorded for accretion on the 2020 payment liability discount.

During the six months ended June 30, 2020, a payment of $75.8 million was made associated with the resolution of a dispute over the allocation to Olin of certain capital costs incurred at our Plaquemine, LA site after the October 5, 2015 closing date of the acquisition from Dow.

Amortization expense of $17.3 million and $11.0 million for the three months ended June 30, 2021 and 2020, respectively, and amortization expense of $34.8 million and $33.3 million for the six months ended June 30, 2021 and 2020, respectively, was recognized within cost of goods sold related to our long-term supply contracts and is reflected in depreciation and amortization on the condensed statements of cash flows. The long-term supply contracts are monitored for impairment each reporting period.