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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Cash and cash equivalents at beginning of year $ 469,416 $ 529,650
Cash flows from operating activities:    
Net income 153,652 237,461
Adjustments to reconcile net income to cash flows from operating activities:    
Depreciation and amortization 49,449 47,310
Restructuring and other charges 94,703 [1]  
Stock-based compensation 10,730 13,892
Excess tax benefits realized from stock-based compensation arrangements (12,329) (5,694)
Equity in net income of unconsolidated investments (net of tax) (21,298) (27,618)
Dividends received from unconsolidated investments and nonmarketable securities 16,769 13,054
Pension and postretirement expense 19,070 13,671
Pension and postretirement contributions (4,612) (55,751)
Unrealized gain on investments in marketable securities (470) (1,910)
Deferred income taxes (5,826) 18,388
Working capital changes, net of effects of restructuring and other charges (122,146) (98,796)
Other, net 7,217 (7,837)
Net cash provided by operating activities 184,909 146,170
Cash flows from investing activities:    
Capital expenditures (126,623) (67,627)
Cash payments related to acquisitions and other (2,384) (5,908)
(Investments in) sales of marketable securities, net (1,235) 1,807
Long-term advances to joint venture (10,000)  
Investments in equity and other corporate investments   (10,868)
Net cash used in investing activities (140,242) (82,596)
Cash flows from financing activities:    
Repayments of long-term debt (9,383) (105,206)
Proceeds from borrowings 614 14,558
Dividends paid to shareholders (33,399) (27,960)
Dividends paid to noncontrolling interests (7,628)  
Repurchases of common stock (13,695)  
Proceeds from exercise of stock options 13,430 1,082
Excess tax benefits realized from stock-based compensation arrangements 12,329 5,694
Withholding taxes paid on stock-based compensation award distributions (8,998) (1,772)
Net cash used in financing activities (46,730) (113,604)
Net effect of foreign exchange on cash and cash equivalents (5,602) 11,095
Decrease in cash and cash equivalents (7,665) (38,935)
Cash and cash equivalents at end of period $ 461,751 $ 490,715
[1] The three-month and six-month periods ended June 30, 2012 include charges amounting to $94,703 ($73,590 after income taxes) in connection with our exit of the phosphorous flame retardants business.