Related Party Transactions

3 Months Ended

Mar. 31, 2012

14.

Related Party Transactions

The following summarizes the balances and transactions between the Company and (i) each of Armand Products Company ("Armand") and The ArmaKleen Company ("ArmaKleen") in which the Company holds a 50% ownership interest and (ii) Natronx Technologies LLC ("Natronx"), in which the Company holds a one-third ownership interest:


	Armand				ArmaKleen				Natronx
	Three Months Ended				Three Months Ended				Three Months Ended
(In millions)	March 31, 2012		April 1, 2011		March 31, 2012		April 1, 2011		March 31, 2012		April 1, 2011
Purchases by Company	$	4.2	$	3.0	$	0.0	$	0.0	$	0.0	$	0.0
Sales by Company	$	0.0	$	0.0	$	0.3	$	1.4	$	0.7	$	0.0
Outstanding Accounts Receivable	$	0.0	$	0.3	$	0.6	$	0.8	$	0.2	$	0.0
Outstanding Accounts Payable	$	2.3	$	0.8	$	0.0	$	0.0	$	0.0	$	0.0
Administration & Management Oversight Services ⁽¹⁾	$	0.4	$	0.4	$	0.6	$	0.6	$	0.2	$	0.0

⁽¹⁾	Billed by Company and recorded as a reduction of selling, general and administrative expenses.

On September 22, 2011, the Company, together with FMC Corporation and TATA Chemicals, formed an operating joint venture, Natronx Technologies LLC ("Natronx"). The Company has a one-third ownership interest in Natronx, and its investment is accounted for under the equity method. The joint venture will engage in the manufacturing and marketing of sodium-based, dry sorbents for air pollution control in electric utility and industrial boiler operations. The sorbents, primarily sodium bicarbonate and trona, are used by coal-fired utilities to remove harmful pollutants, such as acid gases, in flue-gas treatment processes. Natronx intends to invest approximately $60 million to construct a 450,000 ton per year facility in Wyoming to produce trona sorbents by the fourth quarter of 2012, the cost of which will be equally shared among all members. The joint venture started business in the fourth quarter of 2011 and the Company made an initial investment of $3.2 million in 2011 and an additional $3.0 million investment in the first three months of 2012. The Company is committed to investing up to an additional $14 million in the remainder of 2012.

- Definition

The entire disclosure for related party transactions, including the nature of the relationship(s), a description of the transactions, the amount of the transactions, the effects of any change in the method of establishing the terms of the transaction from the previous period, stated interest rate, expiration date, terms and manner of settlement per the agreement with the related party, and amounts due to or from related parties. If the entity and one or more other entities are under common ownership or management control and this control affects the operating results or financial position, disclosure includes the nature of the control relationship even if there are no transactions between the entities. Disclosure may also include the aggregate amount of current and deferred tax expense for each statement of earnings presented where the entity is a member of a group that files a consolidated tax return, the amount of any tax related balances due to or from affiliates as of the date of each statement of financial position presented, the principal provisions of the method by which the consolidated amount of current and deferred tax expense is allocated to the members of the group and the nature and effect of any changes in that method. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

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Reference 3: http://www.xbrl.org/2003/role/presentationRef

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Reference 4: http://www.xbrl.org/2003/role/presentationRef

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Reference 8: http://www.xbrl.org/2003/role/presentationRef

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+ Details