Chairman's - FMC Corporation

NON-GAAP RECONCILIATIONS
Segment operating proft (consolidated), earnings before restructuring and other income and charges, earnings per share before
restructuring and other income and charges, return on invested capital, free cash fow, and earnings before interest, taxes, depreciation
and amortization (EBITDA) are not measures of fnancial performance under U.S. generally accepted accounting principles (GAAP) and
should not be considered in isolation from, or as substitutes for, income from continuing operations, net income, or earnings per share
determined in accordance with GAAP, nor as substitutes for measures of proftability, performance or liquidity reported in accordance
with GAAP. The following charts reconcile Non-GAAP terms used in this report to the closest GAAP term. All tables are unaudited and
presented in millions, except per share amounts.
EBITDA of $593.8 million for the year ended December 31, 2009, is the sum of income from continuing operations before income taxes
of $310.0 million (GAAP) less net income attributable to noncontrolling interests of $10.3 million, plus corporate special charges, net of
$139.9 million, interest expense, net of $27.0 million and depreciation and amortization of $127.2 million.
Free cash fow of approximately $100 million for the year ended December 31, 2009, is the sum of cash provided by operating activities
(GAAP), cash required by operating activities of discontinued operations (GAAP) and cash required by investing activities (GAAP) as
presented in our Consolidated Statements of Cash Flows of FMC’s Form 10-K.
Reconciliation of numerator income from continuing operations (GAAP) to numerator income from continuing operations before
restructuring and other income and charges and after-tax interest expense, net (Non-GAAP) used in ROIC (return on invested
capital) calculation, where ROIC is the above described Non-GAAP number divided by the 2-point average denominator set
forth below:
2007 Actual 2008 Actual 2009 Actual
Income from continuing operations (GAAP) $ 166.3 $ 346.5 $ 257.0
Net income attributable to noncontrolling interests (9.6) (17.0) (10.3)
Interest expense, net 34.9 31.9 27.0
Tax effect of interest expense, net (10.5) (9.9) (8.3)
Corporate special charges (income) 157.0 53.3 139.9
Loss on extinguishment of debt 0.3 - -
Tax effect of corporate special charges (income) and
loss on extinguishment of debt
(58.9) (23.0) (38.8)
Tax adjustments (15.4) (8.7) (43.7)
ROIC numerator (Non-GAAP) $ 264.1 $ 373.1 $ 322.8
2-point average denominator Dec-06 Dec-07 Dec-08 Dec-09
Short-term debt $ 53.7 $ 47.9 $ 28.6 $ 33.4
Current portion of long-term debt 52.5 77.7 2.1 22.5
Long-term debt 523.5 419.6 592.9 588.0
Total FMC Stockholder equity 1,010.2 1,064.3 902.9 1,076.4
$ 1,639.9 $ 1,609.5 $ 1,526.5 $ 1,720.3
ROIC denominator (2 pt. avg) (GAAP) $ 1,624.7 $ 1,568.0 $ 1,623.4
ROIC (using Non-GAAP numerator) 16.3% 23.8% 19.9%
FMC Corporation | 2009 Annual Report | Non-GAAP Reconciliations 11
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