Document ppyjgwKwaBQvGKZMv4X9No0mj

Intangible assets, representing goodwill is amortized on a straight-lme basis over 40 years Accumulated amortization aggregated $0 5 and $0.4 at December 31, 1996 and 1995, respectively The Company's accounting policy regarding the assessment of the recoverability of the carrying value of goodwill is to review the carrying value of goodwill if the facts and circumstances suggest that they may be impaired If this review indicates that goodwill will not be recoverable, as determined based on the undiscounted future cash flows of the Company, the carrying value of goodwill will be reduced to their estimated fair value 3 INVENTORIES Inventories consisted of the following DECEMBER 31, 1996 1995 Raw materials and supplies . . Work-in-process . Finished goods $34 0 04 11 9 $46 3 $32 8 03 12 4 $45 5 4 PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment consisted of the following Land.................... . .. ... Buildings .... . . ... Machinery and equipment.................... Furniture and fixtures.............................. Construction-in-progress........................... Accumulated depreciation.. . . DECEMBER 31, 1996 1995 $ 04 70 20 8 06 02 29 0 (18 6) $10.4 $ 04 6.6 19.3 06 06 27.5 (16 9) $10 6 Depreciation expense was $2 0, $1.8 and $1.8 in 1996, 1995 and 1994, respectively F-10 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (DOLLARS IN MILLIONS) 5 INCOME TAXES Disclosure Page 33