PART II  NOTE 17 Financial Instruments, Risk Management and Fair Value Measurements Fair Value Measurements Fair Value Hierarchy 66 FMC CORPORATION    2010 Form 10K The following table presents our fair value hierarchy for those assets and liabilities measured at fair value on a recurring basis in our consolidated  balance sheets as of December 31, 2010 and 2009. Fair value is the price that would be received to sell an asset or paid to  transfer a liability in an orderly transaction between market participants  at the measurement date. Market participants are defined as buyers or  sellers in the principle or most advantageous market for the asset or  liability that are independent of the reporting entity, knowledgeable  and able and willing to transact for the asset or liability. We have categorized our assets and liabilities that are recorded at fair  value, based on the priority of the inputs to the valuation technique,  into a three-level fair value hierarchy. The fair value hierarchy gives the  highest priority to quoted prices in active markets for identical assets  or liabilities (Level 1) and the lowest priority to unobservable inputs  (Level 3). If the inputs used to measure the assets and liabilities fall  within different levels of the hierarchy, the categorization is based on  the lowest level input that is significant to the fair value measurement  of the instrument. (in Millions) 12/31/2010 Quoted Prices  in Active Markets  for Identical Assets  (Level 1) Signifi cant Other  Observable Inputs  (Level 2) Signifi cant  Unobservable Inputs  (Level 3) ASSETS Available-for-sale securities: Common Stock  (1) $0.1 $0.1 $— $— Derivatives — Energy  (2) 0.2 — 0.2 — Derivatives — Foreign Exchange  (2) 1.1 — 1.1 — Other  (3) 22.1 22.1 — — TOTAL ASSETS $23.5 $22.2 $1.3 $— LIABILITIES Derivatives — Energy  (4) $6.0 $— $6.0 $— Derivatives — Foreign Exchange  (4) 2.1 — 2.1 — Other  (5) 32.2 32.2 — — TOTAL LIABILITIES $40.3 $32.2 $8.1 $— (in Millions) 12/31/2009 Quoted Prices  in Active Markets  for Identical Assets  (Level 1) Signifi cant Other  Observable Inputs  (Level 2) Signifi cant  Unobservable Inputs  (Level 3) ASSETS Available-for-sale securities: Common Stock  (1) $0.1 $0.1 $— $— Derivatives — Energy  (2) 4.9 — 4.9 — Derivatives — Foreign Exchange  (2) 0.5 — 0.5 — Other  (3) 21.9 21.9 — — TOTAL ASSETS $27.4 $22.0 $5.4 $— LIABILITIES Derivatives — Energy  (4) $3.2 $— $3.2 $— Derivatives — Foreign Exchange  (4) 1.9 — 1.9 — Other  (5) 31.2 31.2 — — TOTAL LIABILITIES $36.3 $31.2 $5.1 $— (1) Amounts included in “Investments” in the consolidated balance sheets. (2) Amounts included in “Prepaid and other current assets” in the consolidated balance sheets (3) Consists of a deferred compensation arrangement, through which we hold various investment securities, recognized on our balance sheet. Both the asset and liability are recorded at  fair value. Asset amounts included in “Other assets” in the consolidated balance sheets. (4) Amounts included in “Accrued and other liabilities” in the consolidated balance sheets. (5) Consists of a deferred compensation arrangement recognized on our balance sheet. Both the asset and liability are recorded at fair value. Liability amounts included in “Other long- term liabilities” in the consolidated balance sheets.