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## Note 10 – Impairment and Restructuring Charges (continued) 

The following is a rollforward of the consolidated restructuring accrual for the years ended December 31: 

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The restructuring accrual at December 31, 2011 and 2010 was included in other current liabilities on the Consolidated Balance Sheets. The accrual at December 31, 2011 included $2.8 million of severance and related benefits, which are expected to be paid by June 2012. The remainder of the restructuring accrual at December 31, 2011 primarily represented environmental exit costs, which are principally related to Sao Paulo, Brazil. As of December 31, 2011, the Company has $14.8 million reserved for environmental matters, of which $10.5 million relates to Sao Paulo, Brazil. The Company adjusts environmental remediation accruals based on the best available estimate of costs to be incurred, the timing and extent of remedial actions required by governmental authorities and the amount of the Company’s liability in proportion to other responsible parties. The Company’s estimated total liability for this site ranges from a minimum of $10.5 million to a maximum of $16.1 million. It is possible that the estimate may change in the near term. 

## NOTE 11 – sTOCK COMPENsATION PlANs 

Under the Company’s long-term incentive plan, shares of the Company’s common stock have been made available to grant, at the discretion of the Compensation Committee of the Board of Directors, to officers and key employees in the form of stock option awards. Stock option awards typically have a ten-year term and generally vest in 25% increments annually beginning on the first anniversary of the date of grant. In addition to stock option awards, the Company has granted restricted shares under the long-term incentive plan. Restricted shares typically vest in 25% increments annually beginning on the first year anniversary of the date of grant and are expensed over the vesting period. 

During 2011, 2010 and 2009, the Company recognized stock-based compensation expense of $9.4 million ($5.9 million after tax or $0.06 per diluted share), $8.8 million ($5.6 million after tax or $0.06 per diluted share) and $7.0 million ($4.5 million after tax or $0.05 per diluted share), respectively, for stock option awards. 

The fair value of stock option awards granted during 2011, 2010 and 2009 was estimated at the date of grant using a Black-Scholes option-pricing method with the following assumptions: 

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Historical information was the primary basis for the selection of the expected dividend yield, expected volatility and the expected lives of the options. The dividend yield was calculated based upon the last dividend prior to the grant compared to the trailing 12 months’ daily stock prices. The risk-free interest rate was based upon yields of U.S. zero coupon issues with a term equal to the expected life of the option being valued. Forfeitures were estimated at 4%. 

