Chairman's - FMC Corporation

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FMC CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
Although potential environmental remediation expenditures in excess of the reserves and estimated loss
contingencies could be significant, the impact on our future consolidated financial results is not subject to
reasonable estimation due to numerous uncertainties concerning the nature and scope of possible contamination
at many sites, identification of remediation alternatives under constantly changing requirements, selection of new
and diverse clean-up technologies to meet compliance standards, the timing of potential expenditures and the
allocation of costs among PRPs as well as other third parties.
The liabilities arising from potential environmental obligations that have not been reserved for at this time
may be material to any one quarter or year’s results of operations in the future. However, we believe any such
liability arising from potential environmental obligations is not likely to have a material adverse effect on our
liquidity or financial condition and may be satisfied over the next 20 years or longer.
Regarding current operating sites, we spent $11.6 million, $16.4 million and $14.3 million for the years
2009, 2008 and 2007, respectively, on capital projects relating to environmental control facilities. Additionally,
in 2009, 2008 and 2007, we spent $24.9 million, $26.4 million and $29.3 million, respectively, for environmental
compliance costs, which are operating costs not covered by established reserves.
NOTE 11: INCOME TAXES
Domestic and foreign components of income from continuing operations before income taxes are shown
below:
Year Ended December 31,
2009 2008 2007
(in Millions)
Domestic .................................................. $275.9 $331.8 $136.1
Foreign ................................................... 34.1 140.1 59.2
Total ..................................................... $310.0 $471.9 $195.3
The provision (benefit) for income taxes attributable to income from continuing operations consisted of:
Year Ended December 31,
2009 2008 2007
(in Millions)
Current:
Federal ............................................................ $— $ (1.2) $ —
Foreign ............................................................ 3.1 29.7 22.5
State .............................................................. — — —
Total current ............................................................ 3.1 28.5 22.5
Total deferred ........................................................... 49.9 96.9 6.5
Total .................................................................. $53.0 $125.4 $29.0
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