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&lt;p style="MARGIN-TOP: 8px; MARGIN-BOTTOM: 0px"&gt;&lt;font style="FONT-FAMILY: ARIAL" color="#4F4E95" size="1"&gt;&lt;b&gt;Note 1 &amp;#x2013;
NATURE OF OPERATIONS&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN-TOP: 6px; MARGIN-BOTTOM: 0px"&gt;&lt;font style="FONT-FAMILY: ARIAL" size="1"&gt;The Lubrizol Corporation (the
company) is an innovative specialty chemical company that produces
and supplies technologies that improve the quality, value and
performance of its customers&amp;#x2019; products in the global
transportation, industrial and consumer markets. These technologies
include lubricant additives for engine oils, other
transportation-related fluids and industrial lubricants, as well as
additives for gasoline and diesel fuel. In addition, the company
makes engineered polymers, including plastics technology;
ingredients and additives for personal care products and
pharmaceuticals; and performance coatings in the form of specialty
resins and additives.&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN-TOP: 8px; MARGIN-BOTTOM: 0px"&gt;&lt;font style="FONT-FAMILY: ARIAL" size="1"&gt;The company is organized into two
operating and reportable segments: Lubrizol Additives and Lubrizol
Advanced Materials. Refer to Note 3 for a further description of
the nature of the company&amp;#x2019;s operations, the product lines
within each of the operating segments, segment operating income and
related financial disclosures for the reportable
segments.&lt;/font&gt;&lt;/p&gt;
&lt;/div&gt;</NonNumbericText><NonNumericTextHeader>Note 1 &amp;#x2013;
NATURE OF OPERATIONS
The Lubrizol Corporation (the
company) is an innovative specialty chemical company that produces
and supplies technologies</NonNumericTextHeader><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Other</Unit><ElementDataType>us-types:textBlockItemType</ElementDataType><SimpleDataType>string</SimpleDataType><ElementDefenition>Describes the nature of an entity's business, the major products or services it sells or provides and its principal markets, including the locations of those markets. If the entity operates in more than one business, the disclosure also indicates the relative importance of its operations in each business and the basis for the determination (for example, assets, revenues, or earnings). Disclosures about the nature of operations need not be quantified; relative importance could be conveyed by use of terms such as "predominately", "about equally", or "major and other". This element is also referred to as "Business Description".</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef
 -Publisher AICPA
 -Name Statement of Position (SOP)
 -Number 94-6
 -Paragraph 10

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