2.2.0.25falsefalse11501 - Disclosure - Shareholders' Equitytruefalsefalse1falsefalsefalsefalse1/1/2010 - 12/31/2010 Duration_1_1_2010_To_12_31_2010http://www.sec.gov/CIK0001043382duration2010-01-01T00:00:002010-12-31T00:00:002true0soa_CapitalStockAbstractsoafalsenadurationCapital Stock [Abstract]falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringCapital Stock [Abstract]falsefalseShareholders' Equity3false0us-gaap_ScheduleOfStockByClassTextBlockus-gaaptruenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseterselabel1falsefalsefalse00<div> <div style="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">15.  Shareholders' Equity</font></font></div> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="justify"><br /></div> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="justify"> <div style="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;" class="_mt">After the Effective Date, our common stock ("New Common Stock") trades on the New York Stock Exchange ("NYSE") under the symbol "SOA".  Our common stock prior to filing for Bankruptcy ("Old Common Stock") was traded on the NYSE under the symbol "SOI".  Our New Common Stock traded on a "when-issued" basis on the NYSE from December 20, 2007 until shortly after the Effective Date, at which time our New Common Stock began trading on a "regular way" basis.</font></div> <div style="text-indent: 0pt; display: block;"><br /></div> <div style="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;" class="_mt">On the Effective Date, all of our Old Common Stock was canceled pursuant to the Plan and we issued 59,749,686 shares of New Common Stock, par value $0.01 per share, of the newly reorganized Solutia in satisfaction of various creditor claims and stockholder interests.  In addition, on the Effective Date, we issued warrants to purchase an aggregate of 4,481,250 shares of New Common Stock to holders of Old Common Stock based on a holder's pre-petition stock ownership, provided that such holder held at least 24 shares of the Old Common Stock (the "Warrants").  Subject to the terms of the warrant agreement, Warrant holders are entitled to purchase shares of New Common Stock at an exercise price of $29.70 per share.  The Warrants have a five-year term in which they may be exercised for cash or on a net issuance basis and will expire on February 27, 2013.</font></div></div> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="justify"><br /></div> <div style="text-align: left; 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">During the third quarter 2009, our Board of Directors approved a Rights Plan which is intended to reduce the likelihood of an ownership change within the meaning of Section 382 of the Internal Revenue Code and thereby preserve our ability to utilize certain net operating loss carryforwards and other tax benefits.  Our adoption of the Rights Plan effectively attaches one right ("Right") to each outstanding share of our common stock, to stockholders of record at the close of business on July 28, 2009.  If the Rights are triggered, each Right may entitle the holder of the Right to purchase our common stock at a discount to its market price, subject to certain exceptions as set forth in the Rights Plan.</font></div> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="justify"><br /></div> <div style="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;" class="_mt">In the second quarter 2009, we completed a public offering ("2009 Stock Offering") of 24,738,641 shares of common stock, including the over-allotment option as exercised by the underwriters of the offering.  Net proceeds from the 2009 Stock Offering were $119.  In the third quarter 2008, we completed two public offerings, which in aggregate, resulted in the issuance of 33,021,976 total shares of common stock with net proceeds of $422.</font></div> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="justify"><br /></div> <div style="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;" class="_mt">No dividends were paid by the Predecessor in the two months ended February 29, 2008 or by the Successor in the twelve months ended December 31, 2010 and 2009 and the ten months ended December 31, 2008 and we have no current plans to do so.</font></div> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="justify"><br /></div> <div style="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;" class="_mt">We have 100 million shares of preferred stock, par value $0.01 per share, authorized.  As of December 31, 2010 and 2009 there were no preferred shares issued or outstanding.</font></div> </div>15.  Shareholders' Equity After the Effective Date, our common stock ("New Common Stock") trades on the New York Stock Exchange ("NYSE") underfalsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringThis element is used to capture the complete disclosure pertaining to an entity's stock, including par or stated value per share, number and dollar amount of share subscriptions, shares authorized, shares issued, shares outstanding, number and dollar amount of shares held in an employee trust, dividend per share, total dividends, share conversion features, par value plus additional paid in capital, the value of treasury stock and other information necessary to a fair presentation. Stock by Class includes common, convertible and preferred stocks which are not redeemable or redeemable solely at the option of the issuer. Includes preferred stock with redemption features that are solely within the control of the issuer and mandatorily redeemable stock if redemption is required to occur only upon liquidation or termination of the reporting entity. If more than one issue is outstanding, state the title of each issue and the corresponding dollar amount; dollar amount of any shares subscribed but unissued and the deduction of subscriptions receivable there from; number of shares authorized, issued and outstanding.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 29 -Article 5 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 30 -Article 5 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 150 -Paragraph 9 falsefalseShareholders' Equity12Shareholders' EquityUnKnownUnKnownUnKnownUnKnownfalsetrue