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Condensed Consolidating Financial Statements (Tables)
6 Months Ended
Jun. 30, 2012
Condensed Consolidating Financial Information Relating to Senior Notes
 
Schedule of Condensed Consolidating Statements of Operations
 
  Three months ended June 30, 2012  
 
  Parent   CFI   Other
Subsidiaries
  Eliminations   Consolidated  
 
  (in millions)
 

Net sales

  $   $ 1,055.7   $ 825.6   $ (145.7 ) $ 1,735.6  

Cost of sales

        436.2     293.6     (37.5 )   692.3  
                       

Gross margin

        619.5     532.0     (108.2 )   1,043.3  
                       

Selling, general and administrative expenses

    1.0     34.9     5.4         41.3  

Other operating—net

        8.6     2.2         10.8  
                       

Total other operating costs and expenses

    1.0     43.5     7.6         52.1  

Equity in earnings of operating affiliates

        (3.3 )   17.1         13.8  
                       

Operating earnings (loss)

    (1.0 )   572.7     541.5     (108.2 )   1,005.0  

Interest expense

        42.8     2.8     (0.3 )   45.3  

Interest income

        (0.2 )   (0.1 )   0.3      

Net earnings of wholly-owned subsidiaries

    (607.0 )   (261.5 )       868.5      

Other non-operating—net

            (0.6 )       (0.6 )
                       

Earnings before income taxes and equity in earnings (loss) of non-operating affiliates

    606.0     791.6     539.4     (976.7 )   960.3  

Income tax provision (benefit)

    (0.3 )   184.5     125.0         309.2  

Equity in earnings (loss) of non-operating affiliates—net of taxes

        (0.1 )   27.3         27.2  
                       

Net earnings

    606.3     607.0     441.7     (976.7 )   678.3  

Less: Net earnings attributable to noncontrolling interest

            180.2     (108.2 )   72.0  
                       

Net earnings attributable to common stockholders

  $ 606.3   $ 607.0   $ 261.5   $ (868.5 ) $ 606.3  
                       


 
  Six months ended June 30, 2012  
 
  Parent   CFI   Other
Subsidiaries
  Eliminations   Consolidated  
 
  (in millions)
 

Net sales

  $   $ 1,971.6   $ 1,556.0   $ (264.4 ) $ 3,263.2  

Cost of sales

        956.9     620.7     (69.5 )   1,508.1  
                       

Gross margin

        1,014.7     935.3     (194.9 )   1,755.1  
                       

Selling, general and administrative expenses

    1.5     61.7     11.9         75.1  

Other operating—net

        15.8     17.3         33.1  
                       

Total other operating costs and expenses

    1.5     77.5     29.2         108.2  

Equity in earnings of operating affiliates

        1.1     28.2         29.3  
                       

Operating earnings (loss)

    (1.5 )   938.3     934.3     (194.9 )   1,676.2  

Interest expense

        71.0     5.6     (0.4 )   76.2  

Interest income

        (0.4 )   (0.4 )   0.4     (0.4 )

Net (earnings) of wholly-owned subsidiaries

    (975.8 )   (413.0 )       1,388.8      

Other non-operating—net

        0.2     (0.9 )       (0.7 )
                       

Earnings before income taxes and equity in earnings of non-operating affiliates

    974.3     1,280.5     930.0     (1,583.7 )   1,601.1  

Income tax provision (benefit)

    (0.4 )   304.6     211.8         516.0  

Equity in earnings (loss) of non-operating affiliates—net of taxes

        (0.1 )   25.0         24.9  
                       

Net earnings

    974.7     975.8     743.2     (1,583.7 )   1,110.0  

Less: Net earnings attributable to noncontrolling interest

            330.2     (194.9 )   135.3  
                       

Net earnings attributable to common stockholders

  $ 974.7   $ 975.8   $ 413.0   $ (1,388.8 ) $ 974.7  
                       


 
  Three months ended June 30, 2011  
 
  Parent   CFI   Other
Subsidiaries
  Eliminations   Consolidated  
 
  (in millions)
 

Net sales

  $   $ 1,104.5   $ 837.2   $ (140.0 ) $ 1,801.7  

Cost of sales

        574.4     420.4     (60.5 )   934.3  
                       

Gross margin

        530.1     416.8     (79.5 )   867.4  
                       

Selling, general and administrative expenses

    1.0     26.5     4.2         31.7  

Restructuring and integration costs

        0.9     0.4         1.3  

Other operating—net

        1.3     2.6         3.9  
                       

Total other operating costs and expenses

    1.0     28.7     7.2         36.9  

Equity in earnings of operating affiliates

        2.8     11.4         14.2  
                       

Operating earnings (loss)

    (1.0 )   504.2     421.0     (79.5 )   844.7  

Interest expense

        28.7     2.1         30.8  

Interest income

        (0.2 )   (0.7 )       (0.9 )

Net earnings of wholly-owned subsidiaries

    (488.0 )   (188.9 )       676.9      

Other non-operating—net

        (0.1 )   (0.1 )       (0.2 )
                       

Earnings before income taxes and equity in earnings (loss) of non-operating affiliates

    487.0     664.7     419.7     (756.4 )   815.0  

Income tax provision (benefit)

    (0.4 )   176.6     104.8         281.0  

Equity in earnings (loss) of non-operating affiliates—net of taxes

        (0.1 )   9.9         9.8  
                       

Net earnings

    487.4     488.0     324.8     (756.4 )   543.8  

Less: Net earnings attributable to noncontrolling interest

            135.9     (79.5 )   56.4  
                       

Net earnings attributable to common stockholders

  $ 487.4   $ 488.0   $ 188.9   $ (676.9 ) $ 487.4  
                       


 
  Six months ended June 30, 2011  
 
  Parent   CFI   Other
Subsidiaries
  Eliminations   Consolidated  
 
  (in millions)
 

Net sales

  $   $ 1,735.7   $ 1,492.0   $ (252.0 ) $ 2,975.7  

Cost of sales

        933.9     761.6     (112.2 )   1,583.3  
                       

Gross margin

        801.8     730.4     (139.8 )   1,392.4  
                       

Selling, general and administrative expenses

    1.5     48.8     12.4         62.7  

Restructuring and integration costs

        2.0     1.4         3.4  

Other operating—net

        (29.7 )   2.6         (27.1 )
                       

Total other operating costs and expenses

    1.5     21.1     16.4         39.0  

Equity in earnings of operating affiliates

        2.4     23.3         25.7  
                       

Operating earnings (loss)

    (1.5 )   783.1     737.3     (139.8 )   1,379.1  

Interest expense

        79.9     3.1     (0.1 )   82.9  

Interest income

        (0.4 )   (0.9 )   0.1     (1.2 )

Net earnings of wholly-owned subsidiaries

    (770.4 )   (333.4 )       1,103.8      

Other non-operating—net

        (0.1 )   (0.4 )       (0.5 )
                       

Earnings before income taxes and equity in earnings (loss) of non-operating affiliates

    768.9     1,037.1     735.5     (1,243.6 )   1,297.9  

Income tax provision (benefit)

    (0.5 )   266.6     173.7         439.8  

Equity in earnings (loss) of non-operating affiliates—net of taxes

        (0.1 )   18.4         18.3  
                       

Net earnings

    769.4     770.4     580.2     (1,243.6 )   876.4  

Less: Net earnings attributable to noncontrolling interest

            246.8     (139.8 )   107.0  
                       

Net earnings attributable to common stockholders

  $ 769.4   $ 770.4   $ 333.4   $ (1,103.8 ) $ 769.4  
                       


Schedule of Condensed Consolidating Statements of Comprehensive Income

 
  Three months ended June 30, 2012  
 
  Parent   CFI   Other
Subsidiaries
  Eliminations   Consolidated  
 
  (in millions)
 

Net earnings

  $ 606.3   $ 607.0   $ 441.7   $ (976.7 ) $ 678.3  

Other comprehensive loss

    (3.2 )   (3.2 )   (4.9 )   7.7     (3.6 )
                       

Comprehensive income

    603.1     603.8     436.8     (969.0 )   674.7  

Less: Comprehensive income attributable to the noncontrolling interest

            180.2     (108.6 )   71.6  
                       

Comprehensive income attributable to common stockholders

  $ 603.1   $ 603.8   $ 256.6   $ (860.4 ) $ 603.1  
                       


 
  Six months ended June 30, 2012  
 
  Parent   CFI   Other
Subsidiaries
  Eliminations   Consolidated  
 
  (in millions)
 

Net earnings

  $ 974.7   $ 975.8   $ 743.2   $ (1,583.7 ) $ 1,110.0  

Other comprehensive income

    24.0     24.0     20.8     (44.6 )   24.2  
                       

Comprehensive income

    998.7     999.8     764.0     (1,628.3 )   1,134.2  

Less: Comprehensive income attributable to the noncontrolling interest

            330.2     (194.8 )   135.4  
                       

Comprehensive income attributable to common stockholders

  $ 998.7   $ 999.8   $ 433.8   $ (1,433.5 ) $ 998.8  
                       


 
  Three months ended June 30, 2011  
 
  Parent   CFI   Other
Subsidiaries
  Eliminations   Consolidated  
 
  (in millions)
 

Net earnings

  $ 487.4   $ 488.0   $ 324.8   $ (756.4 ) $ 543.8  

Other comprehensive income

    4.6     4.6     2.0     (6.4 )   4.8  
                       

Comprehensive income

    492.0     492.6     326.8     (762.8 )   548.6  

Less: Comprehensive income attributable to

                               

the noncontrolling interest

            135.9     (79.3 )   56.6  
                       

Comprehensive income attributable to

                               

common stockholders

  $ 492.0   $ 492.6   $ 190.9   $ (683.5 ) $ 492.0  
                       


 
  Six months ended June 30, 2011  
 
  Parent   CFI   Other
Subsidiaries
  Eliminations   Consolidated  
 
  (in millions)
 

Net earnings

  $ 769.4   $ 770.4   $ 580.2   $ (1,243.6 ) $ 876.4  

Other comprehensive income

    31.1     31.1     27.1     (57.3 )   32.0  
                       

Comprehensive income

    800.5     801.5     607.3     (1,300.9 )   908.4  

Less: Comprehensive income attributable to the noncontrolling interest

            246.8     (138.9 )   107.9  
                       

Comprehensive income attributable to common stockholders

  $ 800.5   $ 801.5   $ 360.5   $ (1,162.0 ) $ 800.5  
                       
Schedule of Condensed Consolidating Balance Sheets

 

 
  June 30, 2012  
 
  Parent   CFI   Other
Subsidiaries
  Eliminations
and
Reclassifications
  Consolidated  
 
  (in millions)
 

Assets

                               

Current assets:

                               

Cash and cash equivalents

  $   $ 293.8   $ 1,089.2   $   $ 1,383.0  

Accounts and notes receivable—net

        161.5     1,309.8     (1,111.1 )   360.2  

Inventories—net

        155.3     74.3         229.6  

Prepaid income taxes

        598.6         (598.6 )    

Other

        11.1     12.8         23.9  
                       

Total current assets

        1,220.3     2,486.1     (1,709.7 )   1,996.7  

Property, plant and equipment—net

        805.6     2,895.2         3,700.8  

Asset retirement obligation funds

        147.6             147.6  

Investments in and advances to affiliates

    4,480.8     5,918.6     943.8     (10,398.9 )   944.3  

Investments in auction rate securities

        55.5             55.5  

Due from affiliates

    539.0         1.5     (540.5 )    

Goodwill

        0.9     2,063.6         2,064.5  

Other assets

        75.3     134.2         209.5  
                       

Total assets

  $ 5,019.8   $ 8,223.8   $ 8,524.4   $ (12,649.1 ) $ 9,118.9  
                       

Liabilities and Equity

                               

Current liabilities:

                               

Accounts and notes payable and accrued expenses

  $ 0.4   $ 1,120.4   $ 132.4   $ (918.8 ) $ 334.4  

Income taxes payable

            599.9     (598.6 )   1.3  

Customer advances

        94.3     26.7         121.0  

Deferred income taxes

        45.7             45.7  

Distributions payable to noncontrolling interest

            291.3     (291.3 )    

Other

        43.4     9.5         52.9  
                       

Total current liabilities

    0.4     1,303.8     1,059.8     (1,808.7 )   555.3  
                       

Notes payable

            14.2     (9.4 )   4.8  

Long-term debt

        1,600.0             1,600.0  

Deferred income taxes

        29.0     988.3         1,017.3  

Due to affiliates

        540.5         (540.5 )    

Other noncurrent liabilities

        269.7     171.6         441.3  

Equity:

                               

Stockholders' equity:

                               

Preferred stock

            65.3     (65.3 )    

Common stock

    0.6         154.1     (154.1 )   0.6  

Paid-in capital

    2,456.5     739.9     4,493.6     (5,233.5 )   2,456.5  

Retained earnings

    2,637.5     3,816.1     1,218.2     (5,034.3 )   2,637.5  

Accumulated other comprehensive

                               

income (loss)

    (75.2 )   (75.2 )   (5.7 )   80.9     (75.2 )
                       

Total stockholders' equity

    5,019.4     4,480.8     5,925.5     (10,406.3 )   5,019.4  

Noncontrolling interest

            365.0     115.8     480.8  
                       

Total equity

    5,019.4     4,480.8     6,290.5     (10,290.5 )   5,500.2  
                       

Total liabilities and equity

  $ 5,019.8   $ 8,223.8   $ 8,524.4   $ (12,649.1 ) $ 9,118.9  
                       


 
  December 31, 2011  
 
  Parent   CFI   Other
Subsidiaries
  Eliminations
and
Reclassifications
  Consolidated  
 
  (in millions)
 

Assets

                               

Current assets:

                               

Cash and cash equivalents

  $   $ 98.7   $ 1,108.3   $   $ 1,207.0  

Accounts and notes receivable—net

        76.9     806.4     (613.9 )   269.4  

Inventories—net

        212.6     91.6         304.2  

Prepaid income taxes

        289.4         (289.4 )    

Other

        6.0     12.0         18.0  
                       

Total current assets

        683.6     2,018.3     (903.3 )   1,798.6  

Property, plant and equipment—net

        767.7     2,968.3         3,736.0  

Deferred income taxes

        26.1         (26.1 )    

Asset retirement obligation funds

        145.4             145.4  

Investments in and advances to affiliates

    3,533.4     5,484.7     927.9     (9,017.4 )   928.6  

Investments in auction rate securities

        70.9             70.9  

Due from affiliates

    1,013.8         1.0     (1,014.8 )    

Goodwill

        0.9     2,063.6         2,064.5  

Other assets

        91.4     139.1         230.5  
                       

Total assets

  $ 4,547.2   $ 7,270.7   $ 8,118.2   $ (10,961.6 ) $ 8,974.5  
                       

Liabilities and Equity

                               

Current liabilities:

                               

Accounts and notes payable and

                               

accrued expenses

  $ 0.1   $ 516.3   $ 132.9   $ (321.6 ) $ 327.7  

Income taxes payable

            417.9     (289.4 )   128.5  

Customer advances

        184.3     72.9         257.2  

Deferred income taxes

        90.1             90.1  

Distributions payable to noncontrolling interest

            441.7     (292.0 )   149.7  

Other

        66.0     12.0         78.0  
                       

Total current liabilities

    0.1     856.7     1,077.4     (903.0 )   1,031.2  
                       

Notes payable

            14.2     (9.4 )   4.8  

Long-term debt

        1,600.0     13.0         1,613.0  

Deferred income taxes

            983.0     (26.2 )   956.8  

Due to affiliates

        1,014.8         (1,014.8 )    

Other noncurrent liabilities

        265.8     170.0         435.8  

Equity:

                               

Stockholders' equity:

                               

Preferred stock

            65.3     (65.3 )    

Common stock

    0.7         153.9     (153.9 )   0.7  

Paid-in capital

    2,804.8     739.9     4,493.6     (5,233.5 )   2,804.8  

Retained earnings

    2,841.0     2,892.7     805.2     (3,697.9 )   2,841.0  

Treasury stock

    (1,000.2 )               (1,000.2 )

Accumulated other comprehensive income (loss)

    (99.2 )   (99.2 )   (26.5 )   125.6     (99.3 )
                       

Total stockholders' equity

    4,547.1     3,533.4     5,491.5     (9,025.0 )   4,547.0  

Noncontrolling interest

            369.2     16.7     385.9  
                       

Total equity

    4,547.1     3,533.4     5,860.7     (9,008.3 )   4,932.9  
                       

Total liabilities and equity

  $ 4,547.2   $ 7,270.7   $ 8,118.3   $ (10,961.7 ) $ 8,974.5  
                       
Schedule of Condensed Consolidating Statements of Cash Flows

 
  Six months ended June 30, 2012  
 
  Parent   CFI   Other
Subsidiaries
  Eliminations   Consolidated  
 
  (in millions)
 

Operating Activities:

                               

Net earnings

  $ 974.7   $ 975.8   $ 743.2   $ (1,583.7 ) $ 1,110.0  

Adjustments to reconcile net earnings to net cash provided by operating activities

                               

Depreciation, depletion and amortization

        69.1     149.9         219.0  

Deferred income taxes

        7.7     5.5         13.2  

Stock compensation expense

    5.1         0.5         5.6  

Excess tax benefit from stock-based compensation

    (15.4 )               (15.4 )

Unrealized loss (gain) on derivatives

        (19.6 )   (2.1 )       (21.7 )

(Gain) loss on disposal of property, plant and equipment and non-core assets

        0.9     2.7         3.6  

Undistributed (earnings) of affiliates—net

    (975.8 )   (609.3 )   (20.6 )   1,583.7     (22.0 )

Due to/from affiliates—net

    490.2     (489.8 )   (0.4 )        

Changes in:

                               

Accounts and notes receivable—net

        (188.7 )   (501.4 )   600.5     (89.6 )

Margin deposits

        0.8     0.1         0.9  

Inventories—net

        58.3     18.1         76.4  

Accrued income taxes

        (292.7 )   181.9         (110.8 )

Accounts and notes payable and accrued expenses

    0.4     608.0     (1.6 )   (600.5 )   6.3  

Customer advances

        (89.9 )   (46.3 )       (136.2 )

Other—net

        (2.5 )   11.9         9.4  
                       

Net cash provided by operating activities

    479.2     28.1     541.4         1,048.7  
                       

Investing Activities:

                               

Additions to property, plant and equipment

        (96.2 )   (61.6 )       (157.8 )

Proceeds from sale of property, plant and equipment and non-core assets

        7.2             7.2  

Sales and maturities of short-term and auction rate securities

        16.0             16.0  

Deposit to asset retirement funds

        (2.2 )           (2.2 )
                       

Net cash used in investing activities

        (75.2 )   (61.6 )       (136.8 )
                       

Financing Activities:

                               

Payments of long-term debt

            (13.0 )       (13.0 )

Financing fees

                     

Dividends paid on common stock

    (52.3 )               (52.3 )

Dividends to/from affiliates

    52.3     (52.3 )            

Distributions to/from noncontrolling interest

        300.5     (493.8 )       (193.3 )

Purchase of treasury stock

    (500.0 )               (500.0 )

Issuances of common stock under employee stock plans

    5.4                 5.4  

Excess tax benefit from stock-based compensation

    15.4                 15.4  

Other—net

                     
                       

Net cash (used in) provided by financing activities

    (479.2 )   248.2     (506.8 )       (737.8 )
                       

Effect of exchange rate changes on cash and cash equivalents

        (6.0 )   7.9         1.9  
                       

Increase in cash and cash equivalents

        195.1     (19.1 )       176.0  

Cash and cash equivalents at beginning of period

        98.7     1,108.3         1,207.0  
                       

Cash and cash equivalents at end of period

  $   $ 293.8   $ 1,089.2   $   $ 1,383.0  
                       


 
  Six months ended June 30, 2011  
 
  Parent   CFI   Other
Subsidiaries
  Eliminations   Consolidated  
 
  (in millions)
 

Operating Activities:

                               

Net earnings

  $ 769.4   $ 770.4   $ 580.2   $ (1,243.6 ) $ 876.4  

Adjustments to reconcile net earnings to net cash provided by operating activities

                               

Depreciation, depletion and amortization

        73.9     139.4         213.3  

Deferred income taxes

    2.2     10.8     12.8         25.8  

Stock compensation expense

    4.7         0.4         5.1  

Excess tax benefit from stock-based compensation

    (18.6 )               (18.6 )

Unrealized (gain) loss on derivatives

        11.3     2.2         13.5  

(Gain) on disposal of property, plant and equipment

        (33.3 )   3.9         (29.4 )

Undistributed (earnings) loss of affiliates—net

    (770.4 )   (479.2 )   (46.6 )   1,243.6     (52.6 )

Due to/from affiliates—net

    (14.5 )   17.5     (3.0 )        

Changes in:

                               

Accounts and notes receivable—net

        235.2     (216.0 )   (197.9 )   (178.7 )

Margin deposits

        2.6     1.7         4.3  

Inventories—net

        (3.7 )   (0.2 )   0.0     (3.9 )

Accrued income taxes

        (72.7 )   149.5         76.8  

Accounts and notes payable and accrued expenses

        32.4     (207.8 )   197.9     22.5  

Customer advances

        (18.4 )   (12.0 )       (30.4 )

Other—net

        1.4     (3.4 )       (2.0 )
                       

Net cash (used in) provided by operating activities

    (27.2 )   548.2     401.1         922.1  
                       

Investing Activities:

                               

Additions to property, plant and equipment

        (57.8 )   (47.7 )       (105.5 )

Proceeds from sale of property, plant and equipment and non-core assets

        45.1     2.4         47.5  

Sales and maturities of short-term and auction rate securities

        24.6             24.6  

Other—net

            31.3         31.3  
                       

Net cash provided by (used in) investing activities

        11.9     (14.0 )       (2.1 )
                       

Financing Activities:

                               

Payments of long-term debt

        (346.0 )           (346.0 )

Dividends paid on common stock

    (14.3 )               (14.3 )

Dividends to/from affiliates

    14.3     (14.3 )            

Distributions to noncontrolling interest

            (28.6 )       (28.6 )

Issuances of common stock under employee stock plans

    8.6                 8.6  

Excess tax benefit from stock-based compensation

    18.6                 18.6  
                       

Net cash provided by (used in) financing activities

    27.2     (360.3 )   (28.6 )       (361.7 )
                       

Effect of exchange rate changes on cash and cash equivalents

        (7.8 )   7.4         (0.4 )
                       

Increase in cash and cash equivalents

        192.0     365.9         557.9  

Cash and cash equivalents at beginning of period

        136.2     661.5         797.7  
                       

Cash and cash equivalents at end of period

  $   $ 328.2   $ 1,027.4   $   $ 1,355.6  
                       
Condensed Consolidating Financial Information Relating to Shelf Registration Statement
 
Schedule of Condensed Consolidating Statements of Operations


 
  Three months ended June 30, 2012  
 
  Parent   CFI   Guarantor
Subsidiaries
  Non-Guarantor
Subsidiaries
  Eliminations   Consolidated  
 
  (in millions)
 

Net sales

  $   $ 1,055.7   $ 510.0   $ 511.1   $ (341.2 ) $ 1,735.6  

Cost of sales

        436.2     343.4     145.6     (232.9 )   692.3  
                           

Gross margin

        619.5     166.6     365.5     (108.3 )   1,043.3  
                           

Selling, general and administrative expenses

    1.0     34.9     1.4     4.0         41.3  

Other operating—net

        8.6     (0.3 )   2.5         10.8  
                           

Total other operating costs and expenses

    1.0     43.5     1.1     6.5         52.1  

Equity in earnings of operating affiliates

        (3.3 )   2.1     15.0         13.8  
                           

Operating earnings (loss)

    (1.0 )   572.7     167.6     374.0     (108.3 )   1,005.0  

Interest expense

        42.8     2.2     0.6     (0.3 )   45.3  

Interest income

        (0.2 )   4.4     (4.5 )   0.3      

Net earnings of wholly-owned subsidiaries

    (607.0 )   (261.5 )   (230.8 )       1,099.3      

Other non-operating—net

            (0.6 )           (0.6 )
                           

Earnings before income taxes and equity in earnings of non-operating affiliates

    606.0     791.6     392.4     377.9     (1,207.6 )   960.3  

Income tax provision (benefit)

    (0.3 )   184.5     110.6     14.4         309.2  

Equity in earnings (loss) of non-operating affiliates—net of taxes

        (0.1 )       27.3         27.2  
                           

Net earnings

    606.3     607.0     281.8     390.8     (1,207.6 )   678.3  

Less: Net earnings attributable to noncontrolling interest

            19.5     160.8     (108.3 )   72.0  
                           

Net earnings attributable to common stockholders

  $ 606.3   $ 607.0   $ 262.3   $ 230.0   $ (1,099.3 ) $ 606.3  
                           


 
  Six months ended June 30, 2012  
 
  Parent   CFI   Guarantor
Subsidiaries
  Non-Guarantor
Subsidiaries
  Eliminations   Consolidated  
 
  (in millions)
 

Net sales

  $   $ 1,971.6   $ 983.7   $ 964.2   $ (656.3 ) $ 3,263.2  

Cost of sales

        956.9     696.5     316.1     (461.4 )   1,508.1  
                           

Gross margin

        1,014.7     287.2     648.1     (194.9 )   1,755.1  
                           

Selling, general and administrative expenses

    1.5     61.7     2.4     9.5         75.1  

Other operating—net

        15.8     2.7     14.6         33.1  
                           

Total other operating costs and expenses

    1.5     77.5     5.1     24.1         108.2  

Equity in earnings of operating affiliates

        1.1     5.1     23.1         29.3  
                           

Operating earnings (loss)

    (1.5 )   938.3     287.2     647.1     (194.9 )   1,676.2  

Interest expense

        71.0     4.4     1.2     (0.4 )   76.2  

Interest income

        (0.4 )   8.4     (8.8 )   0.4     (0.4 )

Net earnings of wholly-owned subsidiaries

    (975.8 )   (413.0 )   (364.7 )       1,753.5      

Other non-operating—net

        0.2     (0.9 )           (0.7 )
                           

Earnings before income taxes and equity in earnings (loss) of non-operating affiliates

    974.3     1,280.5     640.0     654.7     (1,948.4 )   1,601.1  

Income tax provision (benefit)

    (0.4 )   304.6     191.8     20.0         516.0  

Equity in earnings (loss) of non-operating affiliates—net of taxes

        (0.1 )       25.0         24.9  
                           

Net earnings

    974.7     975.8     448.2     659.7     (1,948.4 )   1,110.0  

Less: Net earnings attributable to noncontrolling interest

            35.2     295.0     (194.9 )   135.3  
                           

Net earnings attributable to common stockholders

  $ 974.7   $ 975.8   $ 413.0   $ 364.7   $ (1,753.5 ) $ 974.7  
                           


 
  Three months ended June 30, 2011  
 
  Parent   CFI   Guarantor
Subsidiaries
  Non-Guarantor
Subsidiaries
  Eliminations   Consolidated  
 
  (in millions)
 

Net sales

  $   $ 1,104.5   $ 544.5   $ 491.0   $ (338.3 ) $ 1,801.7  

Cost of sales

        574.5     411.2     207.4     (258.8 )   934.3  
                           

Gross margin

        530.0     133.3     283.6     (79.5 )   867.4  
                           

Selling, general and administrative

    1.0     26.5     0.1     4.1         31.7  

Restructuring and integration costs

        0.9     0.4             1.3  

Other operating—net

        1.3     2.3     0.3         3.9  
                           

Total other operating costs and expenses

    1.0     28.7     2.8     4.4         36.9  

Equity in earnings of operating affiliates

        2.8     0.6     10.8         14.2  
                           

Operating earnings (loss)

    (1.0 )   504.1     131.1     290.0     (79.5 )   844.7  

Interest expense

        28.8     1.4     0.7     (0.1 )   30.8  

Interest income

        (0.2 )   4.3     (5.1 )   0.1     (0.9 )

Net earnings of wholly-owned subsidiaries

    (488.0 )   (188.9 )   (173.8 )       850.7      

Other non-operating—net

            (0.1 )   (0.1 )       (0.2 )
                           

Earnings before income taxes and equity in earnings of non-operating affiliates

    487.0     664.4     299.3     294.5     (930.2 )   815.0  

Income tax provision (benefit)

    (0.4 )   176.4     97.5     7.5         281.0  

Equity in earnings of non-operating affiliates—net of taxes

                9.8         9.8  
                           

Net earnings

    487.4     488.0     201.8     296.8     (930.2 )   543.8  

Less: Net earnings attributable to noncontrolling interest

            16.8     119.1     (79.5 )   56.4  
                           

Net earnings attributable to common stockholders

  $ 487.4   $ 488.0   $ 185.0   $ 177.7   $ (850.7 ) $ 487.4  
                           


 
  Six months ended June 30, 2011  
 
  Parent   CFI   Guarantor
Subsidiaries
  Non-Guarantor
Subsidiaries
  Eliminations   Consolidated  
 
  (in millions)
 

Net sales

  $   $ 1,735.7   $ 986.6   $ 899.5   $ (646.1 ) $ 2,975.7  

Cost of sales

        934.0     759.1     396.5     (506.3 )   1,583.3  
                           

Gross margin

        801.7     227.5     503.0     (139.8 )   1,392.4  
                           

Selling, general and administrative

    1.5     48.8     3.6     8.8         62.7  

Restructuring and integration costs

        2.0     1.4             3.4  

Other operating—net

        (29.7 )   2.3     0.3         (27.1 )
                           

Total other operating costs and expenses

    1.5     21.1     7.3     9.1         39.0  

Equity in earnings of operating affiliates

        2.4     1.6     21.7         25.7  
                           

Operating earnings (loss)

    (1.5 )   783.0     221.8     515.6     (139.8 )   1,379.1  

Interest expense

        80.0     1.8     1.3     (0.2 )   82.9  

Interest income

        (0.5 )   8.7     (9.6 )   0.2     (1.2 )

Net (earnings) of wholly-owned subsidiaries

    (770.4 )   (333.4 )   (316.9 )       1,420.7      

Other non-operating—net

            (0.4 )   (0.1 )       (0.5 )
                           

Earnings before income taxes and equity in earnings of non-operating affiliates

    768.9     1,036.9     528.6     524.0     (1,560.5 )   1,297.9  

Income tax provision (benefit)

    (0.5 )   266.5     164.6     9.2         439.8  

Equity in earnings of non-operating affiliates—net of taxes

                18.3         18.3  
                           

Net earnings

    769.4     770.4     364.0     533.1     (1,560.5 )   876.4  

Less: Net earnings attributable to noncontrolling interest

            35.0     211.8     (139.8 )   107.0  
                           

Net earnings attributable to common stockholders

  $ 769.4   $ 770.4   $ 329.0   $ 321.3   $ (1,420.7 ) $ 769.4  
                           


Schedule of Condensed Consolidating Statements of Comprehensive Income



 
  Three months ended June 30, 2012  
 
  Parent   CFI   Guarantor
Subsidiaries
  Non-Guarantor
Subsidiaries
  Eliminations   Consolidated  
 
  (in millions)
 

Net earnings

  $ 606.3   $ 607.0   $ 281.8   $ 390.8   $ (1,207.6 ) $ 678.3  

Other comprehensive loss

    (3.2 )   (3.2 )   (4.2 )   (42.1 )   49.1     (3.6 )
                           

Comprehensive income

    603.1     603.8     277.6     348.7     (1,158.5 )   674.7  

Less: Comprehensive income attributable to the noncontrolling interest

            19.5     160.8     (108.7 )   71.6  
                           

Comprehensive income attributable to common stockholders

  $ 603.1   $ 603.8   $ 258.1   $ 187.9   $ (1,049.8 ) $ 603.1  
                           


 
  Six months ended June 30, 2012  
 
  Parent   CFI   Guarantor
Subsidiaries
  Non-Guarantor
Subsidiaries
  Eliminations   Consolidated  
 
  (in millions)
 

Net earnings

  $ 974.7   $ 975.8   $ 448.2   $ 659.7   $ (1,948.4 ) $ 1,110.0  

Other comprehensive income

    24.0     24.0     20.2     (8.5 )   (35.5 )   24.2  
                           

Comprehensive income

    998.7     999.8     468.4     651.2     (1,983.9 )   1,134.2  

Less: Comprehensive income attributable to the noncontrolling interest

            35.2     295.0     (194.8 )   135.4  
                           

Comprehensive income attributable to common stockholders

  $ 998.7   $ 999.8   $ 433.2   $ 356.2   $ (1,789.1 ) $ 998.8  
                           


 
  Three months ended June 30, 2011  
 
  Parent   CFI   Guarantor
Subsidiaries
  Non-Guarantor
Subsidiaries
  Eliminations   Consolidated  
 
  (in millions)
 

Net earnings

  $ 487.4   $ 488.0   $ 201.8   $ 296.8   $ (930.2 ) $ 543.8  

Other comprehensive income

    4.6     4.6     1.4     4.1     (9.9 )   4.8  
                           

Comprehensive income

    492.0     492.6     203.2     300.9     (940.1 )   548.6  

Less: Comprehensive income attributable to the noncontrolling interest

            16.8     119.1     (79.3 )   56.6  
                           

Comprehensive income attributable to common stockholders

  $ 492.0   $ 492.6   $ 186.4   $ 181.8   $ (860.8 ) $ 492.0  
                           


 
  Six months ended June 30, 2011  
 
  Parent   CFI   Guarantor
Subsidiaries
  Non-Guarantor
Subsidiaries
  Eliminations   Consolidated  
 
  (in millions)
 

Net earnings

  $ 769.4   $ 770.4   $ 364.0   $ 533.1   $ (1,560.5 ) $ 876.4  

Other comprehensive income

    31.1     31.1     25.0     34.5     (89.7 )   32.0  
                           

Comprehensive income

    800.5     801.5     389.0     567.6     (1,650.2 )   908.4  

Less: Comprehensive income attributable to the noncontrolling interest

            35.0     211.8     (138.9 )   107.9  
                           

Comprehensive income attributable to common stockholders

  $ 800.5   $ 801.5   $ 354.0   $ 355.8   $ (1,511.3 ) $ 800.5  
                           
Schedule of Condensed Consolidating Balance Sheets

 

 
  June 30, 2012  
 
  Parent   CFI   Guarantor
Subsidiaries
  Non-Guarantor
Subsidiaries
  Eliminations
and
Reclassifications
  Consolidated  
 
  (in millions)
 

Assets

                                     

Current assets:

                                     

Cash and cash equivalents

  $   $ 293.8   $ 190.9   $ 898.3   $   $ 1,383.0  

Accounts and notes receivable—net

        161.5     1,008.4     301.4     (1,111.1 )   360.2  

Inventories—net

        155.3     51.1     23.2         229.6  

Prepaid income taxes

        598.6             (598.6 )    

Other

        11.1     8.6     4.2         23.9  
                           

Total current assets

        1,220.3     1,259.0     1,227.1     (1,709.7 )   1,996.7  

Property, plant and equipment—net

        805.6     1,553.7     1,341.5         3,700.8  

Asset retirement obligation funds

        147.6                 147.6  

Investments in and advances to affiliates

    4,480.8     5,918.6     3,189.7     933.4     (13,578.2 )   944.3  

Investments in auction rate securities

        55.5                 55.5  

Due from affiliates

    539.0             349.7     (888.7 )    

Goodwill

        0.9     2,063.6             2,064.5  

Other assets

        75.3     107.7     26.5         209.5  
                           

Total assets

  $ 5,019.8   $ 8,223.8   $ 8,173.7   $ 3,878.2   $ (16,176.6 ) $ 9,118.9  
                           

Liabilities and Equity

                                     

Current liabilities:

                                     

Accounts and notes payable and accrued expenses

  $ 0.4   $ 1,120.4   $ 83.1   $ 49.2   $ (918.7 ) $ 334.4  

Income taxes payable

            573.6     26.3     (598.6 )   1.3  

Customer advances

        94.3     26.1     0.6         121.0  

Deferred income taxes

        45.7                 45.7  

Distributions payable to noncontrolling interest

                291.3     (291.3 )    

Other

        43.4         9.5         52.9  
                           

Total current liabilities

    0.4     1,303.8     682.8     376.9     (1,808.6 )   555.3  
                           

Notes payable

                14.2     (9.4 )   4.8  

Long-term debt

        1,600.0                 1,600.0  

Deferred income taxes

        29.0     823.4     164.9         1,017.3  

Due to affiliates

        540.5     348.2         (888.7 )    

Other noncurrent liabilities

        269.7     135.7     35.9         441.3  

Equity:

                                     

Stockholders' equity:

                                     

Preferred stock

                65.3     (65.3 )    

Common stock

    0.6         153.1     4.5     (157.6 )   0.6  

Paid-in capital

    2,456.5     739.9     4,450.2     2,893.1     (8,083.2 )   2,456.5  

Retained earnings

    2,637.5     3,816.1     1,208.2     348.2     (5,372.5 )   2,637.5  

Accumulated other comprehensive income (loss)

    (75.2 )   (75.2 )   7.1     (24.8 )   92.9     (75.2 )
                           

Total stockholders' equity

    5,019.4     4,480.8     5,818.6     3,286.3     (13,585.7 )   5,019.4  

Noncontrolling interest

            365.0         115.8     480.8  
                           

Total equity

    5,019.4     4,480.8     6,183.6     3,286.3     (13,469.9 )   5,500.2  
                           

Total liabilities and equity

  $ 5,019.8   $ 8,223.8   $ 8,173.7   $ 3,878.2   $ (16,176.6 ) $ 9,118.9  
                           


 
  December 31, 2011  
 
  Parent   CFI   Guarantor
Subsidiaries
  Non-Guarantor
Subsidiaries
  Eliminations
and
Reclassifications
  Consolidated  
 
  (in millions)
 

Assets

                                     

Current assets:

                                     

Cash and cash equivalents

  $   $ 98.7   $ 300.2   $ 808.1   $   $ 1,207.0  

Accounts and notes receivable

        76.9     367.4     439.0     (613.9 )   269.4  

Inventories—net

        212.6     62.9     28.7         304.2  

Prepaid income taxes

        289.4             (289.4 )    

Other

        6.0     6.6     5.4         18.0  
                           

Total current assets

        683.6     737.1     1,281.2     (903.3 )   1,798.6  

Property, plant and equipment—net

        767.7     1,592.4     1,375.9         3,736.0  

Deferred income taxes

        26.1             (26.1 )    

Asset retirement obligation funds

        145.4                 145.4  

Investments in and advances to affiliates

    3,533.4     5,484.7     1,346.1     919.4     (10,355.0 )   928.6  

Investments in auction rate securities

        70.9                 70.9  

Due from affiliates

    1,013.8         1,398.3         (2,412.1 )    

Goodwill

        0.9     2,063.6             2,064.5  

Other assets

        91.4     113.8     25.3         230.5  
                           

Total assets

  $ 4,547.2   $ 7,270.7   $ 7,251.3   $ 3,601.8   $ (13,696.5 ) $ 8,974.5  
                           

Liabilities and Equity

                                     

Current liabilities:

                                     

Accounts and notes payable and accrued expenses

  $ 0.1   $ 516.3   $ 74.7   $ 58.4   $ (321.8 ) $ 327.7  

Income taxes payable

              396.9     21.0     (289.4 )   128.5  

Customer advances

        184.3     65.1     7.8         257.2  

Deferred income taxes

        90.1                 90.1  

Distributions payable to noncontrolling interest

                441.7     (292.0 )   149.7  

Other

        66.0         12.0         78.0  
                           

Total current liabilities

    0.1     856.7     536.7     540.9     (903.2 )   1,031.2  
                           

Notes payable

                14.2     (9.4 )   4.8  

Long-term debt

        1,600.0     13.0             1,613.0  

Deferred income taxes

            811.9     171.0     (26.1 )   956.8  

Due to affiliates

        1,014.8         1,397.3     (2,412.1 )    

Other noncurrent liabilities

        265.8     135.1     34.9         435.8  

Equity:

                                     

Stockholders' equity:

                                     

Preferred stock

                65.3     (65.3 )    

Common stock

    0.7         153.1     33.2     (186.3 )   0.7  

Paid-in capital

    2,804.8     739.9     4,450.2     1,098.0     (6,288.1 )   2,804.8  

Retained earnings

    2,841.0     2,892.7     795.2     263.3     (3,951.2 )   2,841.0  

Treasury stock

    (1,000.2 )                   (1,000.2 )

Accumulated other comprehensive income (loss)

    (99.2 )   (99.2 )   (13.1 )   (16.3 )   128.5     (99.3 )
                           

Total stockholders' equity

    4,547.1     3,533.4     5,385.4     1,443.5     (10,362.4 )   4,547.0  

Noncontrolling interest

            369.2         16.7     385.9  
                           

Total equity

    4,547.1     3,533.4     5,754.6     1,443.5     (10,345.7 )   4,932.9  
                           

Total liabilities and equity

  $ 4,547.2   $ 7,270.7   $ 7,251.3   $ 3,601.8   $ (13,696.5 ) $ 8,974.5  
                           
Schedule of Condensed Consolidating Statements of Cash Flows


 
  Six months ended June 30, 2012  
 
  Parent   CFI   Guarantor
Subsidiaries
  Non-Guarantor
Subsidiaries
  Eliminations   Consolidated  
 
  (in millions)
 

Operating Activities:

                                     

Net earnings

  $ 974.7   $ 975.8   $ 448.2   $ 659.7   $ (1,948.4 ) $ 1,110.0  

Adjustments to reconcile net earnings to net cash provided by operating activities

                                     

Depreciation, depletion and amortization

        69.1     76.5     73.4         219.0  

Deferred income taxes

        7.7     12.8     (7.3 )       13.2  

Stock compensation expense

    5.1             0.5         5.6  

Excess tax benefit from stock-based compensation

    (15.4 )                   (15.4 )

Unrealized loss (gain) on derivatives

        (19.6 )       (2.1 )       (21.7 )

(Gain) loss on disposal of property, plant and equipment and non-core assets

        0.9     2.7        
    3.6  

Undistributed (earnings) of affiliates—net

    (975.8 )   (609.3 )   (366.8 )   (18.5 )   1,948.4     (22.0 )

Due to/from affiliates—net

    490.2     (489.8 )   257.0     (257.4 )        

Changes in:

                                     

Accounts and notes receivable—net

        (188.7 )   (640.9 )   139.5     600.5     (89.6 )

Margin deposits

        0.8         0.1         0.9  

Inventories—net

        58.3     11.6     6.5         76.4  

Accrued income taxes

        (292.7 )   176.7     5.2         (110.8 )

Accounts and notes payable and accrued expenses

    0.4     608.0     8.6     (10.2 )   (600.5 )   6.3  

Customer advances

        (89.9 )   (39.0 )   (7.3 )       (136.2 )

Other—net

        (2.5 )   33.9     (22.0 )       9.4  
                           

Net cash provided by (used in) operating activities

    479.2     28.1     (18.7 )   560.1         1,048.7  
                           

Investing Activities:

                                     

Additions to property, plant and equipment

        (96.2 )   (38.3 )   (23.3 )       (157.8 )

Proceeds from sale of property, plant and equipment and non-core assets

        7.2                 7.2  

Sales and maturities of short-term and auction rate securities

        16.0                 16.0  

Deposit to asset retirement funds

        (2.2 )               (2.2 )

Other—net

                         
                           

Net cash (used in) investing activities

        (75.2 )   (38.3 )   (23.3 )       (136.8 )
                           

Financing Activities:

                                     

Payments of long-term debt

            (13.0 )           (13.0 )

Financing fees

                         

Dividends paid on common stock

    (52.3 )                   (52.3 )

Dividends to/from affiliates

    52.3     (52.3 )                

Distributions to/from noncontrolling interest

        300.5     (39.3 )   (454.5 )       (193.3 )

Purchase of treasury stock

    (500.0 )                   (500.0 )

Issuances of common stock under employee stock plans

    5.4                     5.4  

Excess tax benefit from stock-based compensation

    15.4                     15.4  

Other—net

                         
                           

Net cash (used in) provided by financing activities

    (479.2 )   248.2     (52.3 )   (454.5 )       (737.8 )
                           

Effect of exchange rate changes on cash and cash equivalents

        (6.0 )       7.9         1.9  
                           

Increase (decrease) in cash and cash equivalents

        195.1     (109.3 )   90.2         176.0  

Cash and cash equivalents at beginning of period

        98.7     300.2     808.1         1,207.0  
                           

Cash and cash equivalents at end of period

  $   $ 293.8   $ 190.9   $ 898.3   $   $ 1,383.0  
                           

 
  Six months ended June 30, 2011  
 
  Parent   CFI   Guarantor
Subsidiaries
  Non-Guarantor
Subsidiaries
  Eliminations   Consolidated  
 
  (in millions)
 

Operating Activities:

                                     

Net earnings

  $ 769.4   $ 770.4   $ 364.0   $ 533.1   $ (1,560.5 ) $ 876.4  

Adjustments to reconcile net earnings to net cash provided by operating activities

                                     

Depreciation, depletion and amortization

        73.9     69.4     70.0         213.3  

Deferred income taxes

    2.2     10.8     19.0     (6.2 )       25.8  

Stock compensation expense

    4.7             0.4         5.1  

Excess tax benefit from stock-based compensation

    (18.6 )                   (18.6 )

Unrealized gain on derivatives

        11.3     0.4     1.8         13.5  

(Gain) loss on disposal of property, plant and equipment and non-core assets

        (33.3 )   2.4     1.5         (29.4 )

Undistributed (earnings) loss of affiliates—net

    (770.4 )   (479.2 )   (317.4 )   (46.1 )   1,560.5     (52.6 )

Due to/from affiliates—net

    (14.5 )   17.5     230.7     (233.7 )        

Changes in (net of effects of acquisition):

                                     

Accounts and notes receivable—net

        235.2     (26.4 )   (189.6 )   (197.9 )   (178.7 )

Margin deposits

        2.6         1.7         4.3  

Inventories—net

        (3.7 )   (10.6 )   10.4         (3.9 )

Accrued income taxes

        (72.7 )   134.6     14.9         76.8  

Accounts and notes payable and accrued expenses

        32.4     (206.1 )   (1.7 )   197.9     22.5  

Customer advances

        (18.4 )   45.3     (57.3 )       (30.4 )

Other—net

        1.4     (5.0 )   1.6         (2.0 )
                           

Net cash (used in) provided by operating activities

    (27.2 )   548.2     300.3     100.8         922.1  
                           

Investing Activities:

                                     

Additions to property, plant and equipment

        (57.8 )   (37.9 )   (9.8 )       (105.5 )

Proceeds from sale of property, plant and equipment and non-core assets

        45.1     2.4             47.5  

Sales and maturities of short-term and auction rate securities

        24.6                 24.6  

Other—net

                31.3         31.3  
                           

Net cash provided by (used in) investing activities

        11.9     (35.5 )   21.5         (2.1 )
                           

Financing Activities:

                                     

Payments of long-term debt

        (346.0 )                 (346.0 )

Dividends paid on common stock

    (14.3 )                   (14.3 )

Dividends to/from affiliates

    14.3     (14.3 )                

Distributions to noncontrolling interest

            (28.6 )           (28.6 )

Issuances of common stock under employee stock plans

    8.6                     8.6  

Excess tax benefit from stock-based compensation

    18.6                     18.6  
                           

Net cash provided by (used in) financing activities

    27.2     (360.3 )   (28.6 )           (361.7 )
                           

Effect of exchange rate changes on cash and cash equivalents

        (7.8 )       7.4         (0.4 )
                           

Increase in cash and cash equivalents

        192.0     236.2     129.7         557.9  

Cash and cash equivalents at beginning of period

        136.2     164.0     497.5         797.7  
                           

Cash and cash equivalents at end of period

  $   $ 328.2   $ 400.2   $ 627.2   $   $ 1,355.6