This excerpt taken from the ICI 6-K filed Mar 16, 2005.
Inventory Costs amendments to ARB No. 43, Chapter 4
SFAS No. 151 was issued in November 2004 and clarifies the accounting for abnormal amounts of idle facility expense, freight, handling costs and spoilage. The standard requires these items to be recognized as current period costs and requires that allocation of fixed production overheads to the cost of conversion to be based on the normal capacity of production facilities. The standard applies to inventory costs incurred during reporting periods beginning after 15 June 2005. Adoption of this standard will not have any significant impact on the results of the Group.
SFAS No. 153