for medical devices and lithium for energy storage specialty polymers and pharmaceutical synthesis. Our Industrial Chemicals segment manufactures a wide range of inorganic materials, including soda ash, hydrogen peroxide, specialty peroxygens, zeolites and silicates. 

## 2010 highlights 

Our businesses this year have been positively impacted by the increase in global economic activity resulting in higher volumes. Results for 2010 reflect increases in both consolidated revenues and earnings in all three of our operating segments driven by solid performance. 

Our Agricultural Products segment revenues increased 18 percent driven by sales gains in North America, Latin America, particularly Brazil, and Asia due to improved market conditions in several key crops and growth from new and recently introduced products. Revenue also increased in our Specialty Chemicals segment with revenues up nine percent compared to the prior year period. Increases in the Specialty Chemicals segment were led by a robust demand recovery in lithium primaries and strong commercial performance in BioPolymer. Our Industrial Chemicals segment revenues increased three percent from prior year period as volume gains across all businesses were largely offset by reduced selling prices and lower electricity sales stemming from the sale of a Spanish cogeneration facility in 2009. In Spain we operate electricity cogeneration facilities and sell excess electricity into the Spanish electrical grid. 

Agricultural Products operating profit increased seven percent compared to the prior year period reflecting strong sales performance partially offset by less favorable mix, higher inventory and distribution costs, increased selling and administrative expenses and higher spending on growth initiatives. Specialty Chemicals operating profit grew by 16 percent as volume gains in lithium primaries, favorable commercial performance in BioPolymer and the benefits of productivity initiatives were partially offset by higher raw material costs. Industrial Chemicals operating profit increased 37 percent from the prior year period, driven by the strong demand recovery and lower raw material, particularly 

## 2011 outlook 

In 2011, we expect a year of solid performance. We expect to have an increase to our revenues driven by increased volumes in most regions, particularly Latin America and Asia, in our Agricultural Products segment and favorable commercial performance in BioPolymer and higher selling prices and favorable mix in lithium in our Specialty Chemicals segment. This revenue increase will be slightly offset by lower revenue in our Industrial Chemicals segment as growth in soda ash and peroxygens is expected to be fully offset by the absence of revenue for the exited phosphate business. 

## results of operations — 2010, 2009 and 2008 

## overview 

Through December 31, 2010, our Industrial Chemicals segment also held a niche position in phosphorous chemicals products, however, in November 2010, we made the decision to exit the phosphate business via the shutdown of our Huelva facility in Spain. 

phosphate rock, and energy costs which more than offset lower selling prices across the segment. See “Segment Results” section starting on page 21 for further discussion on the results of our operating segments. 

In the fourth quarter of 2010, we announced a new corporate strategy, which we refer to as Vision 2015. Vision 2015 is focused on driving sales and earnings growth while sustaining a return on invested capital well above our cost of capital, and has as one of its key objectives, achieving a total shareholder return in the top quartile of a broad group of industry peers. Vision 2015 and its five key elements are explained in more detail in our strategy section of this Form 10-K included in Item 1. 

In November 2010, we made the decision to cease operations at our Huelva, Spain facility and exit the phosphate business in Europe. The facility was a part of our subsidiary FMC Foret, S.A. (“Foret”), which is included in our Industrial Chemicals segment. The closure of the facility was initiated as a consequence of the Spanish judicial ruling which, effective January 1, 2011, prohibited us from storing phosphogypsum on a site adjacent to our production facility. The phosphogypsum is a byproduct of the process of manufacturing phosphoric acid, which is used in the manufacturing of our phosphate products. Since receipt of the unfavorable Spanish judicial ruling, we attempted to pursue strategic alternatives for our Foret phosphorus business. With no reasonable economic alternatives, the judicial ruling inhibited our ability to cost effectively produce our phosphate product and therefore rendered it uneconomical for FMC to continue operations at the facility. The Huelva decision resulted in the incurrence of significant restructuring charges in 2010. 

We expect an increase in earnings. The increase will be partially driven by higher sales as discussed above. Additionally, we expect continued productivity improvements in our Specialty Chemicals segments as well as the benefit of cost reduction initiatives in our Industrial Chemicals segment. Our projected earnings increase will be partially offset by higher spending on growth initiatives and higher raw material costs particularly in our Agricultural Products segment. We expect cash flow from our business segments to remain strong. 

The following presents a reconciliation of our segment operating profit to net income attributable to FMC stockholders as seen through the eyes of our management. For management purposes, we report the operating performance of each of our business segments based on earnings before interest and income taxes excluding corporate expenses, other income (expense), net and corporate special income/(charges). 

