Plant Closure Provisions

3 Months Ended

Mar. 31, 2020

Restructuring and Related Activities [Abstract]

Plant Closure Provisions

NOTE 9 – PLANT CLOSURE PROVISIONS

The Company has continuing plans to close some of its manufacturing facilities at sites around the world as and when those operations are expected to be decommissioned. The liability for estimated closure costs of Innospec’s manufacturing facilities includes costs for decontamination and environmental remediation activities (“remediation”).

As a result, the principal site giving rise to remediation liabilities is the manufacturing site at Ellesmere Port in the United Kingdom. There are also remediation liabilities on a much smaller scale in respect of our other manufacturing sites in the U.S. and Europe.

Movements in the provisions are summarized as follows:

(in millions)	2020
Total at January 1	$	49.3
Charge for the period		1.1
Utilized in the period		(1.0	)
Exchange effect		(0.1	)
Total at March 31		49.3
Due within one year		(5.6	)
Due after one year	$	43.7

The charge for the three months ended March 31, 2020 was $1.1 million (three months ended March 31, 2019 – $1.0 million)

Amounts due within one year refer to provisions where expenditure is expected to arise within one year of the balance sheet date.