GOODWILL AND INTANGIBLES GOODWILL AND INTANGIBLES

3 Months Ended

12 Months Ended

Mar. 31, 2016

Dec. 31, 2015

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 March 31, 2015	$	747.1		$	—		$	747.1
Balance at January 1, 2016	$	1,877.5		$	296.6		$	2,174.1
Acquisition activity	(23.3		)	(5.5		)	(28.8		)
Foreign currency translation adjustment	0.6			0.2			0.8
Balance at March 31, 2016	$	1,854.8		$	291.3		$	2,146.1

Intangible assets consisted of the following:



	March 31, 2016								December 31, 2015								March 31, 2015
	Gross Amount		Accumulated Amortization				Net		Gross Amount		Accumulated Amortization				Net		Gross Amount		Accumulated Amortization				Net
	($ in millions)
Customers, customer contracts and relationships	$	643.8		$	(75.9	)	$	567.9	$	641.0		$	(64.0	)	$	577.0	$	152.9		$	(44.7	)	$	108.2
Trade name	17.9			(2.7		)	15.2		17.9			—			17.9		10.9			—			10.9
Acquired technology	85.2			(5.7		)	79.5		84.7			(2.7		)	82.0		—			—			—
Other	2.3			(1.7		)	0.6		2.3			(1.7		)	0.6		2.3			(1.6		)	0.7
Total intangible assets	$	749.2		$	(86.0	)	$	663.2	$	745.9		$	(68.4	)	$	677.5	$	166.1		$	(46.3	)	$	119.8

In conjunction with the Acquisition, we obtained intangible assets with a fair value of $582.3 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 was recognized within cost of goods sold for the three months ended March 31, 2016 related to the change in useful life.

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, 2014	$	747.1		$	—		$	747.1
Acquisition activity	—			—			—
Balance at December 31, 2014	747.1			—			747.1
Acquisition activity	1,130.8			296.7			1,427.5
Foreign currency translation adjustment	(0.4		)	(0.1		)	(0.5		)
Balance at December 31, 2015	$	1,877.5		$	296.6		$	2,174.1

The increase in goodwill during 2015 was a result of the Acquisition and is based upon the preliminary valuation partially offset by the effects of foreign currency translation adjustments.

Intangible assets consisted of the following:



		December 31,
		2015							2014
	Useful Lives	Gross Amount		Accumulated Amortization			Net		Gross Amount		Accumulated Amortization			Net
		($ in millions)
Customers, customer contracts and relationships	(10-15 years)	$	641.0	$	(64.0	)	$	577.0	$	152.9	$	(41.0	)	$	111.9
Trade name	(indefinite)	17.9		—			17.9		10.9		—			10.9
Acquired technology	(7 years)	84.7		(2.7		)	82.0		—		—			—
Other	(4-10 years)	2.3		(1.7		)	0.6		2.3		(1.6		)	0.7
Total intangible assets		$	745.9	$	(68.4	)	$	677.5	$	166.1	$	(42.6	)	$	123.5

In conjunction with the Acquisition, we obtained intangible assets with a fair value of $582.3 million as of October 5, 2015.

Amortization expense relating to intangible assets was $25.8 million in 2015 and $14.6 million in both 2014 and 2013. We estimate that amortization expense will be approximately $59.3 million in 2016 and approximately $59.2 million in 2017, 2018, 2019 and 2020. Intangible assets are reviewed for impairment annually in the fourth quarter and/or when circumstances or other events indicate that impairment may have occurred.

- 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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