2.2.0.7 false Basis of Presentation and Accounting Policies 10101 - Disclosure - Basis of Presentation and Accounting Policies true false false false 1 USD false false Unit12 Divide http://www.xbrl.org/2003/iso4217 USD iso4217 http://www.xbrl.org/2003/instance shares xbrli 0 Unit13 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 $ 5 Basis of Presentation and Accounting Policies 3 us-gaap_ScheduleOfNewAccountingPronouncementsAndChangesInAccountingPrinciplesTextBlock us-gaap true na duration No definition available. false false false false false false false false false false false terselabel false 1 false false false false 0 0 <div> <div style="text-align: center;"> <div style="line-height: 11.4pt; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="justify"><font style="display: inline; font-family: Times New Roman; font-size: 10pt; font-weight: bold;" class="_mt"><font style="display: inline; text-decoration: underline;" class="_mt">1.  Basis of Presentation and Accounting Policies</font></font></div> <div style="line-height: 11.4pt; text-indent: 0pt; display: block;"><br /></div> <div style="line-height: 11.4pt; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="justify"><font style="font-style: italic; display: inline; font-family: Times New Roman; font-size: 10pt; font-weight: bold;" class="_mt">Basis of Presentation</font></div> <div style="line-height: 11.4pt; text-indent: 0pt; display: block;"><br /></div> <div style="text-align: justify; line-height: 11.4pt; text-indent: 36pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: Times New Roman; font-size: 10pt;" class="_mt">Unless the context requires otherwise, the terms "Solutia", "Company", "we", and "our" in this report refer to Solutia Inc. and its subsidiaries. The accompanying consolidated financial statements have not been audited but have been prepared in conformity with accounting principles generally accepted in the United States ("U.S. GAAP") for interim financial information and with instructions to Form 10-Q and Article 10 of Regulation S-X.  Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements.  Therefore, this Report on Form 10-Q should be read in conjunction with Solutia's Report on Form 10-K for the fiscal year ended December 31, 2009.  In the opinion of management, these unaudited consolidated financial statements contain all adjustments necessary to present fairly the financial position, results of operations and cash flows for the interim periods reported.  Financial information for the first six months of fiscal year 2010 should not be annualized because of the seasonality of our business.</font></div> <div style="line-height: 11.4pt; text-indent: 0pt; display: block;"><br /></div> <div style="line-height: 11.4pt; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="left"><font style="font-style: italic; display: inline; font-family: Times New Roman; font-size: 10pt; font-weight: bold;" class="_mt">Reclassifications</font></div> <div style="line-height: 11.4pt; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="justify"> </div> <div style="text-align: justify; line-height: 11.4pt; text-indent: 36pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: Times New Roman; font-size: 10pt;" class="_mt">We reclassified $8 for the three and six months ended June 30, 2009 from interest expense to loss on debt extinguishment to conform to the 2010 presentation.  The reclassification had no impact to reported net income (loss) for the respective periods.</font></div> <div style="line-height: 11.4pt; text-indent: 0pt; display: block;"><br /></div> <div style="line-height: 11.4pt; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="justify"><font style="font-style: italic; display: inline; font-family: Times New Roman; font-size: 10pt; font-weight: bold;" class="_mt">Accounting Policies</font></div> <div style="line-height: 11.4pt; text-indent: 0pt; display: block;"><br /></div> <div style="line-height: 11.4pt; text-indent: 36pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="justify"><font style="display: inline; font-family: Times New Roman; font-size: 10pt; font-weight: bold;" class="_mt">Inventory Valuation</font></div> <div style="line-height: 11.4pt; text-indent: 0pt; display: block;"><br /></div> <div style="text-align: justify; line-height: 11.4pt; text-indent: 36pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: Times New Roman; font-size: 10pt;" class="_mt">Inventories are stated at cost or market, whichever is less, with cost being determined using standards, which approximate actual cost.  Variances, exclusive of unusual volume and operating performance, are capitalized into inventory when material. Standard cost includes direct labor and raw materials, and manufacturing overhead based on normal capacity.  Effective January 1, 2010, the cost of all consolidated inventories is determined using the FIFO method.  For further detail, see Note 5 – Detail of Certain Balance Sheet Accounts.</font></div></div> </div> 1.  Basis of Presentation and Accounting Policies Basis of Presentation Unless the context requires otherwise, the terms "Solutia", "Company", false false false us-types:textBlockItemType textblock Represents disclosure of any changes in an accounting principle, including a change from one generally accepted accounting principle to another generally accepted accounting principle when there are two or more generally accepted accounting principles that apply or when the accounting principle formerly used is no longer generally accepted. Also disclose any change in the method of applying an accounting principle, or any change in an accounting principle required by a new pronouncement in the unusual instance that a new pronouncement does not include specific transition provisions. Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 154 -Paragraph 2, 17, 18 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Principles Board Opinion (APB) -Number 28 -Paragraph 23, 24 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 01 -Paragraph b -Subparagraph 6 -Article 10 false 1 1 false UnKnown UnKnown UnKnown false true