revenues in these areas. Accounts payables also increased as a result of a higher focus on payables management. 

Accrued pension and other post retirement benefits were a use of cash of $105.2 million which included a voluntary contribution to our U.S. defined benefit plan of $80 million as well as a lump-sum payout of approximately $15 million from our nonqualified pension plan. 

## Cash provided by operating activities for 2009 was $343.5 million 

Income from continuing operations of $257.0 million reflected restructuring and other charges of $132.8 million, of which $46.3 million was for non-cash asset write-downs on exit of various facilities during the year and $35.2 million of other facilities exit costs to be settled in cash, mainly for severance costs. Cash spending on restructuring and other charges during 2009 was $37.4 million. Also included in restructuring and other income and charges was $20.2 million for environmental remediation at our operating sites, which will be spent in years beyond 2009. Cash spending on environmental remediation at our operating sites in 2009 was $7.4 million, against pre-existing reserves. 

Receivables in 2009 were a use of cash of $59.3 million as lower receivables in Industrial Chemicals due to the revenue decline was more than offset by increased receivables in Agricultural Products in Brazil, where sales have grown and terms are significantly longer. Inventories were a source of cash of $35.4 million due to lower inventory costs in Industrial Chemicals, particularly for phosphate rock. Accounts Payable were a use of cash of $71.5 million as the higher cost phosphate rock in payables at the end of 2008 was replaced with lower cost phosphate rock at the end of 2009. 

Accrued pension and other post retirement benefits was a use of cash of $93.4 million which included a voluntary contribution to our U.S. defined benefit plan of $75 million. 

## Cash provided by operating activities for 2008 was $357.4 million 

Income from continuing operations of $346.5 million reflected restructuring and other charges of $49.6 million, of which $37.5 million was for non-cash asset write-downs on exit of various facilities during the year and $14.7 million of other facilities exit costs to be settled in cash, mainly for severance costs. Cash spending on restructuring and other charges during 2008 was $21.3 million. Also included in restructuring and other income and charges was $16.2 million for environmental remediation at our operating sites, which will be spent in years beyond 2008. Cash spending on environmental remediation at our operating sites in 2008 was $13.6 million, against pre-existing reserves. 

Receivables in 2008 were a use of cash of $99.0 million due to the higher revenue in all of our businesses, particularly in Agricultural Products in Brazil where terms are significantly longer than in rest of our businesses. Inventories were a use of cash of $83.7 million as inventories were built to support the stronger trading levels experienced in 2008 prior to the global economic turndown. Additionally, inventories in Industrial Chemicals increased due to the rising cost of phosphate rock during 2008. Accounts Payable were a source of cash of $52.0 million reflecting the higher inventory levels and phosphate rock in our accounts payable at year end 2008. 

Accrued pension and other post retirement benefits were a use of cash of $46.8 million, which included a voluntary contribution to our US defined benefit plan of $30 million. 

## Cash required by operating activities of discontinued operations was $45.2 million, $42.0 million and $49.8 million for 2010, 2009 and 2008, respectively 

The change in 2010 compared to 2009 was due to higher spending on legal proceedings associated with discontinued operations partially offset by lower net environmental spending in 2010. The change in 2009 compared to 2008 was due to lower net environmental spending for discontinued sites in 2009. Discontinued environmental spending was $17.1 million in 2010 compared to $22.1 million in 2009 and $32.2 million in 2008. The remaining discontinued cash outflows primarily represents spending against reserves for legal proceedings associated with discontinued operations. 

## Cash required by investing activities was $154.0 million, $200.7 million and $191.7 million for 2010, 2009 and 2008, respectively 

The decrease in cash required in 2010 was driven primarily by a reduction in acquisitions and capital expenditures. The increase in cash required in 2009 was driven primarily by significant reduction of proceeds from the sale of the properties and assets during 2009 as compared to 2008 partially offset by reduced spending on acquisitions in 2009. Additionally, capital expenditures in 2009 were approximately $14 million less than the prior year period. 

## Cash required by financing activities was $116.6 million, $77.8 million and $137.5 million in 2010, 2009 and 2008, respectively 

The change in 2010 compared to 2009 was due primarily to the repurchases of common stock and lower proceeds from borrowings of long term debt, partially offset by lower repayments under our committed credit facilities and the inclusion of excess tax benefits from share-based compensation. The change in 2009 compared to 2008 was due primarily to the proceeds from our borrowings of long-term debt, a reduction in repurchases of common stock, and a reduction in repayments of long-term debt partially offset by higher repayments under our committed credit facilities. 

## other potential liquidity needs 

Our cash needs for 2011 include operating cash requirements, capital expenditures, scheduled mandatory payments of long-term debt, dividend payments, contributions to our pension plans, environmental spending and restructuring. We plan to meet our liquidity needs through available cash, cash generated from operations and borrowings under our committed revolving credit facilities. We continually evaluate our options for divesting real estate holdings and property, plant and equipment that are no longer integral to any of our operating businesses. 

Projected 2011 capital expenditures are expected to be approximately 15 percent higher than 2010 levels, primarily to increase capacity in BioPolymer, lithium and soda ash. 

