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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Cash and cash equivalents at beginning of year $ 469,416 $ 529,650
Cash flows from operating activities:    
Net income 257,888 360,419
Adjustments to reconcile net income to cash flows from operating activities:    
Depreciation and amortization 74,428 71,926
Restructuring and other charges 101,211 [1]  
Stock-based compensation 10,808 19,365
Excess tax benefits realized from stock-based compensation arrangements (14,424) (5,923)
Equity in net income of unconsolidated investments (net of tax) (29,233) (37,118)
Dividends received from unconsolidated investments and nonmarketable securities 23,244 18,722
Pension and postretirement expense 28,727 20,551
Pension and postretirement contributions (19,705) (57,555)
Unrealized gain on investments in marketable securities (1,412) (636)
Deferred income taxes (2,136) 14,653
Working capital changes (125,419) (110,408)
Other, net 2,505 (8,529)
Net cash provided by operating activities 306,482 285,467
Cash flows from investing activities:    
Capital expenditures (218,708) (127,111)
Cash payments related to acquisitions and other (2,488) (11,045)
(Investments in) sales of marketable securities, net (1,137) 1,629
Long-term advances to joint venture (22,500)  
Investments in equity and other corporate investments   (10,868)
Net cash used in investing activities (244,833) (147,395)
Cash flows from financing activities:    
Repayments of long-term debt (49,243) (105,076)
Proceeds from borrowings   132,859
Dividends paid to shareholders (51,287) (43,098)
Dividends paid to noncontrolling interests (7,628)  
Repurchases of common stock (40,470) (178,132)
Proceeds from exercise of stock options 19,977 1,103
Excess tax benefits realized from stock-based compensation arrangements 14,424 5,923
Withholding taxes paid on stock-based compensation award distributions (9,124) (2,325)
Debt financing costs   (2,727)
Net cash used in financing activities (123,351) (191,473)
Net effect of foreign exchange on cash and cash equivalents (5,072) 5,009
Decrease in cash and cash equivalents (66,774) (48,392)
Cash and cash equivalents at end of period $ 402,642 $ 481,258
[1] The three-month and nine-month periods ended September 30, 2012 include a settlement charge of $6.5 million ($4.1 million after income taxes) associated with our SERP in connection with the retirement of our former CEO and executive chairman. The nine-month period ended September 30, 2012 also includes charges amounting to $94.7 million ($73.6 million after income taxes) in connection with our exit of the phosphorous flame retardants business.