Discussion Of Certain Consolidated Statement Of Operations And Comprehensive Income Captions

9 Months Ended

Sep. 30, 2011

Discussion Of Certain Consolidated Statement Of Operations And Comprehensive Income Captions [Abstract]

Discussion Of Certain Consolidated Statement Of Operations And Comprehensive Income Captions

NOTE D – DISCUSSION OF CERTAIN CONSOLIDATED STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME CAPTIONS

Lower-of-cost-or-market adjustment

The $9.8 million lower-of-cost-or-market charge in the three month period ended September 30, 2011 was recorded to recognize the loss in value of certain inventories as of September 30, 2011 based on estimated recoverable amounts. Of the total charge, $9.4 million related to butadiene and $0.3 million related to fuel products in the C-4 Processing segment and $0.1 million related to isobutylene derivative products in the Performance Products segment. The $9.4 million charge related to butadiene reflected the decline in the butadiene benchmark price from $1.71 per pound in September to $1.40 per pound in October.