XML 28 R67.htm IDEA: XBRL DOCUMENT v2.4.0.6
Segment Information (Details) (USD $)
In Millions, unless otherwise specified
 3 Months Ended
Mar. 31, 2013
Mar. 31, 2012
Segment Reporting, Revenue Reconciling Item [Line Items]    
Revenue $ 990.2 $ 940.7
Operating profit before the items listed below 221.8 202.3
Restructuring and other income (charges) (9.9) [1] (1.7) [1]
Interest expense, net 11.7 11.3
Non-operating pension and postretirement charges (income) (12.7) [2] (9.1) [2]
Acquisition-related charges 0 [3] (3.4) [3]
Provision for income taxes (47.3) (44.8)
Discontinued operations, net of income taxes (5.2) (7.4)
Net income attributable to noncontrolling interests (4.1) (5.5)
Net income 130.9 119.1
Operating Segments [Member]
    
Segment Reporting, Revenue Reconciling Item [Line Items]    
Segment, operating profit (loss) 241.6 225.8
Agricultural Products [Member]
    
Segment Reporting, Revenue Reconciling Item [Line Items]    
Revenue 495.2 454.2
Segment, operating profit (loss) 163.3 130.5
Restructuring and other income (charges) (0.6) (0.4)
Specialty Chemicals [Member]
    
Segment Reporting, Revenue Reconciling Item [Line Items]    
Revenue 236.0 215.9
Segment, operating profit (loss) 45.5 43.0
Restructuring and other income (charges) (7.6) 0.2
Industrial Chemicals [Member]
    
Segment Reporting, Revenue Reconciling Item [Line Items]    
Revenue 259.6 272.6
Segment, operating profit (loss) 32.9 52.2
Restructuring and other income (charges) (0.6) (0.9)
Eliminations [Member]
    
Segment Reporting, Revenue Reconciling Item [Line Items]    
Revenue (0.6) (2.0)
Segment, operating profit (loss) (0.1) 0.1
Corporate [Member]
    
Segment Reporting, Revenue Reconciling Item [Line Items]    
Corporate and other (19.8) (23.5)
Restructuring and other income (charges) $ (1.1) $ (0.6)
[1] See Note 7 for details of restructuring and other charges (income). Amounts for the three months ended March 31, 2013, relate to Agricultural Products of $0.6 million, Specialty Chemicals of $7.6 million, Industrial Chemicals of $0.6 million and Corporate of $1.1 million. Amounts for the three months ended March 31, 2012, relate to Agricultural Products of $0.4 million, Specialty Chemicals of $(0.2) million, Industrial Chemicals of $0.9 million and Corporate of $0.6 million.
[2] Our non-operating pension and postretirement costs are defined as those costs related to interest, expected return on plan assets, amortized actuarial gains and losses and the impacts of any plan curtailments or settlements. These costs are primarily related to changes in pension plan assets and liabilities which are tied to financial market performance and we consider these costs to be outside our operational performance. We exclude these non-operating pension and postretirement costs from our segments as we believe that removing them provides a better understanding of the underlying profitability of our businesses, provides increased transparency and clarity in the performance of our retirement plans and enhances period-over-period comparability. We continue to include the service cost and amortization of prior service cost in our operating segments noted above. We believe these elements reflect the current year operating costs to our businesses for the employment benefits provided to active employees.
[3] These charges were related to the expensing of the inventory fair value step-up resulting from the application of purchase accounting. The charges for the three months ended March 31, 2012 primarily relate to a number of acquisitions completed in 2011. On the condensed consolidated statements of income, the charges presented are included in “Costs of sales and services”. No such charges occurred for the three months ended March 31, 2013.