Part II  iteM 7 Management’s Discussion and analysis of Financial Condition and results of operations Projected 2011 spending includes approximately $35.0 million of net  environmental remediation spending. This spending does not include  expected spending of approximately $6.6 million in 2011 on capital  projects relating to environmental control facilities. Also, we expect  to spend approximately $23.9 million in 2011 for environmental  compliance costs, which we will include as a component of costs of  sales and services in our consolidated statements of income since these  amounts are not covered by established reserves. Capital spending to  expand, maintain or replace equipment at our production facilities  may trigger requirements for upgrading our environmental controls,  which may increase our spending for environmental controls above  the foregoing projections. an additional $250 million of our common stock for a total of  $304.8 million. The repurchase program does not include a specific  timetable or price targets and may be suspended or terminated at any time.  Shares may be purchased through open market or privately negotiated  transactions at the discretion of management based on its evaluation  of market conditions and other factors. During the twelve months  ended December 31, 2010, we repurchased 1,874,519 shares under  the publicly announced repurchase program for $135.0 million. We  also reacquire shares from time to time from employees in connection  with the vesting, exercise and forfeiture of awards under our equity  compensation plans. On July 21, 2010, the Dodd-Frank Wall Street Reform and Consumer  Protection Act was signed into law. Title VII of the Act contains  significant changes in the ways derivatives are regulated. Several U.S.  government regulatory agencies and departments are charged with  developing, largely within 360 days of passage, the many regulations  required under the new law. While the exact effects on FMC cannot be  known until final regulations are promulgated, we believe the liquidity  requirements will be adequately met by the sources available to us. In regard to our U.S. qualified defined benefit pension plan (“U.S. Plan”),  the markets rebounded significantly in 2009 and 2010, exemplified by  the S&P 500 index in the U.S. increasing 26 percent in 2009 and 15  percent in 2010. As a result of higher returns and contributions, our  U.S. Plan assets increased from $708.4 million at December 31, 2009  to $842.4 million at December 31, 2010. Our U.S. Plan assets comprise  approximately 93 percent of our total plan assets with the difference  representing plan assets related to foreign pension plans. We are  maintaining the 8.5 percent assumption for the long-term rate of return  on plan assets used in 2010 for 2011. In developing the assumption  for the long-term rate of return on plan assets for our U.S. Plan,  we take into consideration the technical analysis performed by our  outside actuaries, including historical market returns, information  on the assumption for long-term real returns by asset class, inflation  assumptions, and expectations for standard deviation related to these  best estimates. We also consider the historical performance of our  own plan’s trust, which earned 15 percent in 2010 and has earned  a compound annual rate of return of approximately 11 percent over  the last 20 years (which is in excess of comparable market indices for  the same period) as well as other factors. Given an actively managed  investment portfolio, the expected annual rate of return by asset class  for our portfolio, using geometric averaging, and after being adjusted  for an estimated inflation rate of approximately 2.5 percent, is between  8.6 percent and 10.3 percent for equities, and between 4.2 percent  and 6.3 percent for fixed-income investments, which generates a total  expected portfolio return that is in line with our assumptions for the  rate of return on assets. In order to reduce future funding volatility,  we intend to contribute $55.0 million in 2011, which is in excess of  the minimum requirements versus contributions of $80.0 million in  2010 and $75.0 million in 2009. We do not believe that the additional  contribution will have a significant negative impact on our current  and future liquidity needs. However, a continuation of the volatility  of interest rates and negative equity returns under current market  conditions may require greater contributions to the Plan in the future. On October 24, 2008, the Board of Directors authorized the repurchase  of up to $250 million of our common stock. At December 31, 2010,  $54.8 million remained unused of the 2008 authorization. On  February 18, 2011, the Board authorized the repurchase of up to  In connection with our property and asset sales and divestitures, we  have agreed to indemnify the buyer for certain liabilities, including  environmental contamination and taxes that occurred prior to the  date of sale. Our indemnification obligations with respect to these  liabilities may be indefinite as to duration and may or may not be  subject to a deductible, minimum claim amount or cap. As such, it is  not possible for us to predict the likelihood that a claim will be made  or to make a reasonable estimate of the maximum potential loss or  range of loss. If triggered, we may be able to recover certain of the  indemnity payments from third parties. We have not recorded any  specific liabilities for these guarantees. Short-term debt consisted of foreign credit lines at December 31, 2010,  and 2009. We provide parent-company guarantees to lending institutions  providing credit to our foreign subsidiaries. We guarantee repayment of some of the borrowings of certain  foreign affiliates accounted for using the equity method. As of  December 31, 2010, and 2009, these guarantees had maximum  potential payments of $6.2 million and $5.8 million, respectively. We provide guarantees to financial institutions on behalf of certain  Agricultural Products customers, principally in Brazil, for their  seasonal borrowing. The total of these guarantees was $24.1 million  and $49.5 million at December 31, 2010, and 2009, respectively,  and are recorded on the consolidated balance sheets for each date as  “Guarantees of vendor financing”. The higher level of guarantees at  December 31, 2009, compared with December 31, 2010, arose from a  greater borrowing need of our Brazilian sugar cane customers in 2009. Commitments 29 FMC Corporation    2010 Form 10K