Part II  iteM 7 Management’s Discussion and analysis of Financial Condition and results of operations for legal reserves and expenses related to discontinued operations.  Discontinued environmental charges include environmental remediation  costs at sites of discontinued businesses for which we are responsible  for environmental compliance. Net income attributable to FMC stockholders decreased to $228.5 million  in 2009 compared with $304.6 million in 2008. The decrease was  primarily due to lower Industrial Chemicals segment operating profit  and significantly higher restructuring and other charges (income).  Partially offsetting these decreases were higher profits in our Agricultural  Products segment and to a lesser extent, our Specialty Chemicals segment. Cash and cash equivalents at December 31, 2010 and 2009 were  $161.5 million and $76.6 million, respectively. We had total debt  of $637.9 million and $643.9 million at December 31, 2010 and  2009, respectively. This included $503.0 million and $588.0 million  of long-term debt (excluding current portions of $116.4 million  and $22.5 million) at December 31, 2010 and 2009, respectively.  Short-term debt, which consists of foreign borrowings, decreased to  $18.5 million at December 31, 2010 compared to $33.4 million at  December 31, 2009. On November 30, 2009, we issued $300 million aggregate principal  amount of 5.20% Senior Notes due 2019. The net proceeds from  the offering were used to pay down existing indebtedness under our  revolving credit agreements and for general corporate purposes. On August 28, 2007, we executed a credit agreement (the “Domestic  Credit Agreement”), which provided for a five-year, $600 million  revolving credit facility. The proceeds from this facility are available for  general corporate purposes, including issuing letters of credit up to a  $300 million sub-limit. The Domestic Credit Agreement also contains  an option under which, subject to certain conditions, we may request  an increase in the facility to $1 billion. Loans under the facility bear interest at a floating rate, either a base  rate as defined, or the applicable euro currency rate for the relevant  term plus an applicable margin. The margin is 0.3 percent per year,  subject to adjustment based on the credit rating assigned to our senior  unsecured debt. At December 31, 2010, the applicable borrowing rate  under our Domestic Credit Agreement was 0.6 percent per annum. We had no borrowings under our Domestic Credit Agreement at  December 31, 2010 and December 31, 2009. Letters of credit outstanding  under the Domestic Credit Agreement totaled $130.4 million and  $153.2 million at December 31, 2010 and 2009, respectively. Available  funds under the Domestic Credit Agreement were $469.6 million and  $446.8 million at December 31, 2010 and 2009, respectively. On December 16, 2005, FMC Finance B.V., our Dutch finance  subsidiary, executed a credit agreement (the “European Credit  Agreement”), which provides for an unsecured revolving credit facility  in the amount of €220 million. Borrowings may be denominated in  euros or U.S. dollars. FMC and our Dutch finance subsidiary’s direct  parent provide guarantees of amounts due under the European Credit  Agreement. On August 13, 2010, we amended this agreement to extend  its maturity to August 2012. Loans under the European Credit Agreement bear interest at a euro  currency base rate, which for loans denominated in euros is the Euro  InterBank Offered Rate, and for loans denominated in dollars is London  Interbank Offered Rate (“LIBOR”) in each case plus a margin. The  applicable margin under our European Credit Agreement is subject to  adjustment based on the rating assigned to FMC by each of Moody’s  and S&P. At December 31, 2010, the applicable margin was 1.8  percent and the applicable borrowing rate under the European Credit  Agreement was 2.5 percent per annum. At December 31, 2010 and 2009 we had no borrowings, in revolving  credit facility borrowings under the European Credit Agreement, resulting  in available funds of $289.1 million and $315.4 million, respectively. Among other restrictions, the Domestic Credit Agreement and the  European Credit Agreement contain financial covenants applicable to  FMC and its consolidated subsidiaries related to leverage (measured as  the ratio of debt to adjusted earnings) and interest coverage (measured  as the ratio of adjusted earnings to interest expense). Our actual leverage  for the four consecutive quarters ended December 31, 2010 was 1.2  which is below the maximum leverage of 3.5. Our actual interest  coverage for the four consecutive quarters ended December 31, 2010  was 14.9 which is above the minimum interest coverage of 3.5. We  were in compliance with all covenants at December 31, 2010. Income from continuing operations of $218.5 million reflected  restructuring and other charges of $151.9 million, of which $81.1 million  was for non-cash asset write-downs related to the exit of various facilities  announced in 2010 and $46.1 million of other facilities exit costs to be  settled in cash, mainly for severance costs and lease obligations. Cash  spending on restructuring and other charges in 2010 was $53.4 million.  Also included in income from continuing operations was $14.2 million  for environmental and remediation at our operating sites, which will  be spent in years beyond 2010. Net cash spending on environmental  remediation at our operating sites in 2010 was $8.9 million which  was recorded against pre-existing reserves. Income from continuing  operations is also adjusted for other non-cash items which include stock- based compensation expense and excess tax benefits from share-based  compensation. There was a significant increase in excess tax benefits  from share-based compensation because we utilized our remaining U.S.  federal net operating losses in 2010. See Note 14 to our consolidated  financial statements included in this Form 10-K for further discussion  on these excess tax benefits. Receivables were a use of cash of $109.9 million due to revenue increases  in our businesses, particularly for Agricultural Products sales in Brazil  where terms are significantly longer than in the rest of our businesses.  Partially offsetting the higher receivables were accrued customer rebates  which increased by $33.2 million due to increased sales primarily in  our Agricultural Products segment. These rebates are primarily in  North America and Brazil and generally settle in the fourth quarter of  each year, however, have increased from the prior year due to higher  Net income attributable to FMC stockholders Liquidity and Capital resources 2009 Senior Notes Offering Domestic Credit Agreement European Credit Agreement Statement of Cash Flows Cash provided by operating activities for 2010  was $399.7 million 27 FMC Corporation    2010 Form 10K