Unconsolidated Affiliate

12 Months Ended

Dec. 31, 2012

Equity Method Investments and Joint Ventures [Abstract]

Unconsolidated Affiliate

Unconsolidated Affiliate

Grace accounts for its 50% ownership interest in ART using the equity method of accounting. Grace's investment in ART amounted to $85.5 million and $70.8 million as of December 31, 2012 and 2011, respectively, and the amount included in "equity in earnings of unconsolidated affiliate" in the Consolidated Statements of Operations totaled $18.5 million, $15.2 million and $17.8 million for the years ended December 31, 2012, 2011 and 2010, respectively. ART is a private company and accordingly does not have a quoted market price available. The following summary lists ART's assets, liabilities and results of operations.

	December 31,
(In millions)	2012		2011
Summary of Balance Sheet information:
Current assets	$	136.7	$	136.6
Noncurrent assets	65.9		46.4
Total assets	$	202.6	$	183.0
Current liabilities	$	37.8	$	48.1
Noncurrent liabilities	0.1		—
Total liabilities	$	37.9	$	48.1

	Year Ended December 31,
(In millions)	2012		2011		2010
Summary of Statement of Operations information:
Net sales	$	325.0	$	339.0	$	308.2
Costs and expenses applicable to net sales	276.0		296.3		262.6
Income before income taxes	38.9		32.8		37.3
Net income	37.8		31.2		35.7

Grace and ART transact business on a regular basis and maintain several agreements in order to effect such business. These agreements are treated as related party activities with an unconsolidated affiliate. The table below presents a summary of financial data related to transactions between Grace and ART.

	Year Ended December 31,
(In millions)	2012		2011		2010
Grace sales of catalysts to ART	$	206.9	$	171.4	$	211.0
Charges for fixed costs, research and development and selling, general and administrative services to ART	28.5		27.8		24.5

Grace and Chevron provide lines of credit in the amount of $15 million each at a commitment fee of 0.1% of the credit amount. These agreements expire on February 28, 2013, and are expected to be renewed. No amounts were outstanding at December 31, 2012 and 2011.