Chairman's - FMC Corporation

FMC CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
NOTE 19: BUSINESS SEGMENT AND GEOGRAPHIC DATA
Year Ended December 31,
2009 2008 2007
(in Millions)
Revenue
Agricultural Products .............................................. $1,051.6 $1,058.7 $ 889.7
Specialty Chemicals ............................................... 753.1 764.5 659.5
Industrial Chemicals ............................................... 1,026.7 1,296.9 1,087.1
Eliminations ..................................................... (5.2) (4.8) (3.4)
Total ........................................................... $2,826.2 $3,115.3 $2,632.9
Income from continuing operations before income taxes
Agricultural Products .............................................. 289.0 245.2 207.0
Specialty Chemicals ............................................... 159.6 152.0 142.7
Industrial Chemicals ............................................... 89.7 201.4 92.5
Eliminations ..................................................... (0.1) (0.1) —
Segment operating profit (1) ....................................... 538.2 598.5 442.2
Corporate ........................................................ (44.1) (49.8) (52.3)
Other income (expense), net ......................................... (27.5) (8.6) (12.0)
Operating profit before the items listed below ........................... 466.6 540.1 377.9
Interest expense, net ............................................... (27.0) (31.9) (34.9)
Restructuring and other income (charges) (2) ............................ (132.8) (49.6) (164.9)
Impairment of Perorsa joint venture (3) ................................
Purchase accounting inventory fair value impact and other related inventory
— (1.4) —
adjustments (4) ................................................. (7.1) (2.3) —
LIFO inventory correction adjustment (5) .............................. — — 6.1
Gain from Astaris joint venture (6) ....................................
Noncontrolling interest associated with restructuring and other income
— — 0.4
(charges) (7) ................................................... — — 1.4
Loss on extinguishment of debt (8) .................................... — — (0.3)
Provision for income taxes .......................................... (53.0) (125.4) (29.0)
Discontinued operations, net of income taxes ............................ (18.2) (24.9) (24.3)
Net income attributable to FMC stockholders ........................... $ 228.5 $ 304.6 $ 132.4
Business segment results are presented net of noncontrolling interests, reflecting only FMC’s share of
earnings. The corporate line primarily includes staff expenses, while other income and expense, net consists of
all other corporate items, including LIFO inventory adjustments and pension income or expense.
(1) Results for all segments are net of noncontrolling interests in 2009, 2008 and 2007 of $10.3 million,
$17.0 million and $11.0 million, respectively, the majority of which pertain to Industrial Chemicals.
(2) See Note 7. Amounts in 2009 related to Agricultural Products ($6.1 million), Industrial Chemicals ($71.8
million), Specialty Chemicals ($31.0 million) and Corporate ($23.9 million).
Amounts in 2008 related to Agricultural Products ($43.9 million), Industrial Chemicals ($14.2 million),
Specialty Chemicals ($4.4 million) and Corporate ($12.9 million-gain).
Amounts in 2007 related to Agricultural Products ($108.3 million), Industrial Chemicals ($43.3 million),
Specialty Chemicals ($3.1 million) and Corporate ($10.2 million).
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