We recorded charges of $44.1 million in 2009 compared to $49.8 million  in 2008. The decrease was primarily due to reduced incentive  compensation expense and reductions in discretionary spending  compared to the prior year. Other expense was $27.5 million in 2009 compared to $8.6 million  in 2008. The increase was due primarily to higher charges related to  our LIFO inventory reserves, higher pension expense and an increase  to the mark to market impact of our deferred compensation liability. The 2009 net interest expense decreased to $27.0 million compared  to $31.9 million in 2008 primarily due to lower interest rates on the  borrowings under our credit agreements as compared to the prior period. Restructuring and other charges (income) were $132.8 million in 2009  compared to $49.6 million in 2008. Refer to page 23 for a list of the  charges in this category for the year ended December 31, 2009. The  restructuring and other charges (income) of $49.6 million recorded  in 2008 were a result of the following: We recorded a provision of $53.0 million in 2009 compared with a  provision of $125.4 million in 2008 resulting in effective tax rates of  17.1 percent and 26.6 percent, respectively. The effective tax rates were  impacted by tax adjustments recorded during 2009 and 2008. These  tax adjustments are described below. 2009 tax adjustments were favorable in the amount of $43.7 million and  were primarily a result of a reduction in our liability for unrecognized  tax benefits due to favorable settlements of tax audits and the expiration  of statutes of limitations as well as the reversal of certain domestic  related tax valuation allowances. These domestic valuation allowances  were no longer necessary because of our expectation that the related  deferred tax assets were likely to be realized. 2008 tax adjustments were favorable in the amount of $8.7 million and  primarily result from a benefit to adjust our reserve for unrecognized tax  benefits due to favorable settlements of tax audits. Partially offsetting  this benefit are charges associated with adjustments for prior years’  tax matters. Excluding the impact of these tax adjustments, our effective tax rate in  2009 was 31.1 percent versus 28.4 percent in 2008. This change was  related to the 2009 resolution of a regulatory matter in our Industrial  Chemicals segment that was non-deductible for tax purposes. Discontinued operations, net of income tax totaled a loss of $18.2 million  in 2009 versus a loss of $24.9 million in 2008. The 2009 loss is primarily  related to environmental charges associated with our Front Royal and  Middleport sites and operating and maintenance activities partially  offset by recoveries related to our Front Royal site. The 2009 loss also  includes charges for legal reserves and expenses related to discontinued  operations. The 2008 loss is primarily related to environmental charges  associated with our Front Royal and Middleport sites and charges  26 FMC Corporation    2010 Form 10K • A gain on the sale of the Princeton property of $29.0 million, completed  on March 18, 2008. • A gain on the sale of Foret’s sodium sulfate assets of $3.6 million.  Foret is part of our Industrial Chemicals segment. • A $10.0 million charge related to an agreement in principle to settle a  • A $31.5 million charge in our Agricultural Products segment due  to our decision in 2007 to phase-out operations at our Baltimore,  Maryland agricultural chemicals facility. These charges consisted  of (i) accelerated depreciation on fixed assets of $27.0 million,  (ii) severance and employee benefits of $1.4 million, and (iii) other  shutdown charges of $3.1 million. • A $5.6 million charge in our Agricultural Products segment due to  our decision in 2008 to phase-out operations at our Jacksonville,  Florida facility. The charge consisted of (i) accelerated depreciation  on fixed assets of $3.8 million, (ii) severance and employee benefits  of $1.0 million and (iii) other shutdown charges of $0.8 million. • Severance costs due to workforce restructurings of $8.1 million, of which  $3.2 million related to our Agricultural Products segment, $0.7 million  related to our Specialty Chemicals segment and $4.2 million related  to our Industrial Chemicals segment. • Asset abandonment charges of $7.0 million, of which $2.2 million  related to our Agricultural Products segment, $1.5 million related  to our Industrial Chemicals segment and $3.3 million related to our  Specialty Chemicals segment. • $16.2 million of charges relating to environmental remediation at  operating sites as a Corporate charge. • A $1.0 million charge related to our Agricultural Products segment  extending their rights associated with the collaboration and license  agreement discussed below. • $2.8 million of other charges primarily representing the accrual of  interest associated with the European Commission fine. class action alleging violations of antitrust law involving our hydrogen  peroxide product in our Industrial Chemicals segment. other results of operations Corporate expenses Other income (expense), net Interest expense, net Corporate special income (charges) Restructuring charges and asset impairments Other charges (income), net Discontinued operations, net of income tax Provision for income taxes Impairment of Perorsa joint venture  represents a $1.4 million charge  related to the impairment of our Perorsa joint venture in our Industrial  Chemicals segment. On the consolidated statements of income this  charge is included in “Equity in (earnings) loss of affiliates” for the year  ended December 31, 2008. There is no such comparable charge in 2009. Purchase accounting inventory fair value impact and other related inventory  adjustments for the year ended December 31, 2009, totaled $7.1 million.  Refer to page 24 for a description of this charge for the year ended  December 31, 2009. For the year ended December 31, 2008, the  charges of $2.3 million represented the amortization of the inventory  fair value step-up resulting from the application of purchase accounting  associated with the third quarter 2008 acquisition in our Specialty  Chemicals segment. Part II  iteM 7 Management’s Discussion and analysis of Financial Condition and results of operations