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Goodwill (Tables)
12 Months Ended
Dec. 31, 2019
Disclosure of reconciliation of changes in goodwill [abstract]  
Schedule of changes in the carrying amount of goodwill

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

January 1,

    

Impairment

    

Exchange

    

December 31, 

    

Impairment

    

Exchange

    

December 31, 

 

 

2018

 

(Note 25.5)

 

differences

 

2018

 

(Note 25.5)

 

differences

 

2019

 

 

US$'000

 

US$'000

 

US$'000

 

US$'000

 

US$'000

 

US$'000

 

US$'000

Globe Specialty Metals, Inc.

 

205,287

 

 —

 

(2,439)

 

202,848

 

(174,008)

 

862

 

29,702

Total

 

205,287

 

 —

 

(2,439)

 

202,848

 

(174,008)

 

862

 

29,702

 

Schedule of key assumptions used in the determination of recoverable value

 

 

 

 

 

 

 

 

 

 

 

 

 

2019

 

 

2018

 

 

    

U.S.

    

Canada

 

    

U.S.

    

Canada

 

Weighted average cost of capital

 

11.1

%  

11.5

%

 

11.0

%  

10.5

%

Long-term growth rate

 

2.0

%  

2.0

%

 

2.0

%  

2.0

%

Normalized tax rate

 

21.0

%  

26.6

%

 

22.0

%  

26.5

%

 

Schedule of sensitivity to changes in assumptions affecting impairment

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Excess of

 

Sensitivity on

 

Sensitivity on

 

Sensitivity on

 

 

 

 

recoverable

 

discount rate

 

long-term growth rate

 

cash flows

 

 

 

 

value over

 

Decrease

 

Increase

 

Decrease

 

Increase

 

Decrease

 

Increase

 

    

Goodwill

    

carrying value

    

by 10%

    

by 10%

    

by 10%

    

by 10%

    

by 10%

    

by 10%

 

 

(in millions of US$)

Electrometallurgy - U.S.

 

29.7

 

5.3

 

44.1

 

(35.0)

 

(4.5)

 

4.5

 

(62.0)

 

62.0

Total

 

29.7