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## NOTE 4 Goodwill and Intangible Assets 

The changes in the carrying amount of goodwill by business segment for the years ended December 31, 2010 and December 31, 2009 are presented in the table below: 

<img src='content_image/175381.jpg'>

Acquisitions for the year ended December 31, 2009, related to the CB Professional Products acquisition, which is described in Note 3. 

Our indefinite life intangible assets totaled $2.4 million at December 31, 2010 and 2009, respectively. Th  e indefinite life intangible assets consist of trade names in our Agricultural Products segment. This amount is included within “other assets” in the consolidated balance sheets. 

Our net definite life intangible assets totaled $51.6 million and $55.1 million at December 31, 2010 and 2009, respectively. At December 31, 2010, these definite life intangibles were allocated among our business segments as follows: $32.2 million in Agricultural 

## NOTE 5 Inventories 

The current replacement cost of inventories exceeded their recorded values by $154.9 million at December 31, 2010 and $165.3 million at December 31, 2009 resulting in a LIFO gain recorded in “Cost of sales and services” within the consolidated statements of income. During 2010, inventory balances were reduced in the U.S. due to liquidation of inventory quantities carried at lower costs as compared with the cost 

Products, $18.5 million in Specialty Chemicals and $0.9 million in Industrial Chemicals. Definite life intangible assets consist primarily of patents, customer relationships, access and registration rights, industry licenses, developed formulations and other intangibles and are included in “Other assets” in the consolidated balance sheets. The decrease in defi nite life intangibles during the year ended December 31, 2010, was primarily due to foreign currency translation partially off set by the acquisition of registration rights for a herbicide in our Agricultural Products segment. Amortization was not significant in the periods presented. The estimated amortization expense for each of the fi ve years ended December 31, 2011 to 2015 is also not signifi cant. 

of 2010 purchases. Approximately 38 percent of inventories in 2010 and approximately 36 percent of inventories in 2009 are recorded on the LIFO basis. In 2010 and 2009, approximately 62 percent and 64 percent, respectively, of inventories are determined on a FIFO basis. 

Inventories consisted of the following: 

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## NOTE 6 Property, Plant and Equipment 

Property, plant and equipment consisted of the following: 

<img src='content_image/175392.jpg'>

Depreciation expense was $109.4 million, $108.4 million, and $106.1 million in 2010, 2009 and 2008, respectively. 

