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Consolidated Statements Of Cash Flows (USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Cash Flows from Operating Activities      
Net income $ 48.9 $ 73.7 $ 6.4
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 14.4 [1] 15.4 [1] 18.4 [1]
Impairment of Octane Additives segment goodwill 2.0 2.2 2.2
Deferred taxes (4.0) (14.9) (2.4)
Profit on disposal of property, plant and equipment, net 0 (0.1) 0
Non-cash issue of promissory note in civil complaint settlement 15.0 0 0
Non-cash issue of treasury stock in civil complaint settlement 5.0 0 0
Changes in working capital:      
Trade and other accounts receivable (15.3) 4.8 1.2
Inventories (14.3) (2.3) 18.9
Prepaid expenses 0 (0.2) 0.5
Accounts payable and accrued liabilities (13.7) (11.5) 53.1
Excess tax benefit from stock based payment arrangements (1.1) 0 (0.1)
Accrued income taxes (4.1) (0.1) 16.5
Movement on plant closure provisions 1.1 (0.8) 1.5
Cash contributions to defined benefit pension plan (9.5) (15.6) (6.2)
Non-cash expense of defined benefit pension plan 1.0 19.0 6.4
Stock option compensation 3.1 0.8 1.5
Movements on other non-current assets and liabilities 6.2 (12.2) (30.5)
Net cash provided by operating activities 34.7 58.2 87.4
Cash Flows from Investing Activities      
Capital expenditures (7.0) (8.8) (7.2)
Capitalization of internally developed software and other costs (3.1) 0 0
Proceeds on disposal of property, plant and equipment 0 0.2 0
Purchase of short-term investments (5.0) (7.5) 0
Sale of short-term investments 4.4 3.3 0
Net cash (used in) investing activities (10.7) (12.8) (7.2)
Cash Flows from Financing Activities      
Net receipt/(repayment) of revolving credit facility 13.0 6.0 (17.0)
Repayment of term loan (40.0) (10.0) (55.0)
Receipt of term loan 0 0 50.0
Refinancing costs (1.7) 0 (3.7)
Excess tax benefit from stock based payment arrangements 1.1 0 0.1
Dividend paid 0 0 (1.2)
Issue of treasury stock 0.7 0.2 0.2
Repurchase of common stock (28.1) (2.7) 0
Net cash (used in) financing activities (55.0) (6.5) (26.6)
Effect of foreign currency exchange rate changes on cash 0.1 (0.4) 1.1
Net change in cash and cash equivalents (30.9) 38.5 54.7
Cash and cash equivalents at beginning of year 107.1 68.6 13.9
Cash and cash equivalents at end of year $ 76.2 $ 107.1 $ 68.6
[1] Amortization of deferred finance costs of $0.5 million (2010 - $1.4 million, 2009 - $2.0 million) for the year are included in depreciation and amortization in the cash flow statement but in interest expense in the income statement. Cash payments/receipts in respect of income taxes and interest are disclosed in Note 7 and Note 13, respectively.