SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND NATURE OF BUSINESS (Tables)

12 Months Ended

Dec. 31, 2014

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND NATURE OF BUSINESS

Schedule of activity in allowance for doubtful accounts during the years

Year Ended December 31, (In millions)	Balance at beginning of period		Charged to costs and expenses, net of recoveries		Charged to other accounts (1)			Deductions (2)			Balance at end of period
2014
Allowance for doubtful accounts	$	5.5	$	0.9	$	(0.1	)	$	(0.7	)	$	5.6
2013
Allowance for doubtful accounts		4.5		3.4		(0.1	)		(2.3	)		5.5
2012
Allowance for doubtful accounts		4.2		1.6		-			(1.3	)		4.5

(1)	Represents the foreign currency translation due to the change in exchange rate during the period.
(2)	Accounts receivable balances written off during the period, net of recoveries.

Schedule of estimated useful lives of assets

As of December 31, 2014, the estimated useful lives of our assets are as follows:

Buildings	27-39 years
Land improvements	15-25 years
Chemical manufacturing plants	25 years
Machinery and equipment	2-25 years
Dies and moulds	3-10 years
Office furniture and equipment	2-10 years
Computer equipment and software	3-10 years

Schedule of activity in warranty liabilities

(In millions)	2014			2013			2012
Beginning balance, January 1,	$	12.6		$	13.6		$	11.8
Estimated fair value of warranty liability assumed in acquisition		-			-			1.1
Warranty provisions		4.8			4.6			6.2
Foreign currency translation gain (loss)		(0.5	)		(0.4	)		0.1
Warranty claims paid		(3.4	)		(5.2	)		(5.6	)
Ending balance, December 31,	$	13.5		$	12.6		$	13.6