10-Q

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

     Washington, D.C.  20549    

FORM 10-Q

(Mark One)

x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended September 30, 2012

or

o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to

Commission file number 1-14447

AMCOL INTERNATIONAL CORPORATION

(Exact name of registrant as specified in its charter)

Delaware	36-0724340
(State or other jurisdiction of incorporation or organization)	(IRS Employer Identification No.)

2870 Forbs Avenue, Hoffman Estates, IL	60192
(Address of principal executive offices)	(Zip Code)

(847) 851-1500

(Registrant’s telephone number, including area code)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.          Yes x    No o

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).          Yes x    No o

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or a smaller reporting company (as defined in Rule 12b-2 of the Exchange Act).

Large accelerated filer  x	Accelerated filer  o	Non-accelerated filer  o
Smaller reporting company  o

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).          Yes o    No x

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date.

Class	Outstanding at October 31, 2012
(Common stock, $.01 par value)	31,959,139 Shares

1

AMCOL INTERNATIONAL CORPORATION

INDEX

		Page No.
Part I - Financial Information
Item 1:	Financial Statements
	Condensed Consolidated Balance Sheets – September 30, 2012 and December 31, 2011	3
	Condensed Consolidated Statements of Operations – three and nine months ended September 30, 2012 and 2011	5
	Condensed Consolidated Statements of Comprehensive Income (Loss) – three and nine months ended September 30, 2012 and 2011	6
	Condensed Consolidated Statements of Changes in Equity – nine months ended September 30, 2012 and 2011	7
	Condensed Consolidated Statements of Cash Flows – nine months ended September 30, 2012 and 2011	8
	Notes to Condensed Consolidated Financial Statements	9
Item 2:	Management’s Discussion and Analysis of Financial Condition and Results of Operations	34
Item 3:	Quantitative and Qualitative Disclosures About Market Risk	51
Item 4:	Controls and Procedures	52
Part II - Other Information
Item 4:	Mine Safety Disclosures	52
Item 6:	Exhibits	52

2

AMCOL INTERNATIONAL CORPORATION AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(Dollars in millions)

Item 1:  Financial Statements

ASSETS	September 30, 2012		December 31, 2011
	(unaudited)
Current assets:
Cash and cash equivalents	$	17.7	$	23.7
Accounts receivable, net		219.9		204.8
Inventories		160.8		144.8
Prepaid expenses		19.4		15.7
Deferred income taxes		6.8		5.9
Income tax receivable		15.1		6.9
Other		2.6		6.1
Total current assets		442.3		407.9
Noncurrent assets:
Property, plant, equipment, and mineral rights and reserves:
Land		12.9		13.9
Mineral rights		49.9		52.5
Depreciable assets		535.6		482.6
		598.4		549.0
Less: accumulated depreciation and depletion		303.4		275.5
		295.0		273.5
Goodwill		69.9		69.5
Intangible assets, net		34.8		36.6
Investment in and advances to affiliates and joint ventures		28.0		26.4
Available-for-sale securities		7.9		3.8
Deferred income taxes		9.3		8.5
Other assets		25.6		24.4
Total noncurrent assets		470.5		442.7
Total Assets	$	912.8	$	850.6

Continued…

3

AMCOL INTERNATIONAL CORPORATION AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(Dollars in millions)

LIABILITIES AND SHAREHOLDERS' EQUITY	September 30, 2012			December 31, 2011
	(unaudited)
Current liabilities:
Accounts payable	$	52.7		$	56.5
Accrued income taxes		18.2			2.4
Accrued liabilities		66.9			57.9
Total current liabilities		137.8			116.8
Noncurrent liabilities:
Long-term debt		244.1			260.7
Pension liabilities		35.3			34.8
Deferred compensation		10.3			8.9
Deferred income taxes		13.0			13.5
Other long-term liabilities		21.7			19.2
Total noncurrent liabilities		324.4			337.1
Shareholders' Equity:
Common stock		0.3			0.3
Additional paid in capital		100.8			94.3
Retained earnings		352.1			316.4
Accumulated other comprehensive income (loss)		(5.7	)		(15.0	)
Less: Treasury stock		(0.7	)		(3.4	)
Total AMCOL shareholders' equity		446.8			392.6
Noncontrolling interest		3.8			4.1
Total equity		450.6			396.7
Total Liabilities and Shareholders' Equity	$	912.8		$	850.6

The accompanying notes are an integral part of these condensed consolidated financial statements.

4

AMCOL INTERNATIONAL CORPORATION AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited)

(Dollars in millions, except per share amounts)

	Nine Months Ended September 30,						Three Months Ended September 30,
	2012			2011			2012			2011
Continuing Operations
Net sales	$	746.3		$	709.8		$	253.3		$	248.1
Cost of sales		537.7			518.8			183.9			177.5
Gross profit		208.6			191.0			69.4			70.6
Selling, general and administrative expenses		128.7			124.1			41.8			44.0
Operating profit		79.9			66.9			27.6			26.6
Other income (expense):
Interest expense, net		(7.9	)		(8.1	)		(2.5	)		(2.8	)
Other, net		(2.7	)		(0.1	)		-			(0.2	)
		(10.6	)		(8.2	)		(2.5	)		(3.0	)
Income before income taxes and income (loss) from affiliates and joint ventures		69.3			58.7			25.1			23.6
Income tax expense		19.3			14.9			7.4			5.3
Income before income (loss) from affiliates and joint ventures		50.0			43.8			17.7			18.3
Income (loss) from affiliates and joint ventures		3.4			3.9			1.1			3.0
Income (loss) from continuing operations		53.4			47.7			18.8			21.3
Discontinued Operations
Income (loss) on discontinued operations		-			(1.2	)		-			(1.3	)
Net income (loss)		53.4			46.5			18.8			20.0
Net income (loss) attributable to noncontrolling interests		(0.2	)		(0.1	)		-			(0.1	)
Net income (loss) attributable to AMCOL shareholders	$	53.6		$	46.6		$	18.8		$	20.1
Weighted average common shares outstanding		32.0			31.7			32.1			31.8
Weighted average common and common equivalent shares outstanding		32.3			32.1			32.5			32.2
Amounts attributable to AMCOL shareholders
Income from continuing operations, net of tax	$	53.6		$	47.8		$	18.8		$	21.4
Discontinued operations, net of tax		-			(1.2	)		-			(1.3	)
Net income	$	53.6		$	46.6		$	18.8		$	20.1
Earnings per share attributable to AMCOL shareholders:
Basic earnings (loss) per share:
Continuing operations	$	1.67		$	1.51		$	0.59		$	0.67
Discontinued operations		-			(0.04	)		-			(0.04	)
Net income	$	1.67		$	1.47		$	0.59		$	0.63
Diluted earnings (loss) per share:
Continuing operations	$	1.66		$	1.49		$	0.58		$	0.66
Discontinued operations		-			(0.04	)		-			(0.04	)
Net income	$	1.66		$	1.45		$	0.58		$	0.62
Dividends declared per share	$	0.56		$	0.54		$	0.20		$	0.18

The accompanying notes are an integral part of these condensed consolidated financial statements.

5

AMCOL INTERNATIONAL CORPORATION AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)

(Unaudited)

(Dollars in millions)

	Total					AMCOL Shareholders					Noncontrolling Interest
	Nine Months Ended September 30,					Nine Months Ended September 30,					Nine Months Ended September 30,
	2012		2011			2012		2011			2012			2011
Net income (loss)	$	53.4	$	46.5		$	53.6	$	46.6		$	(0.2	)	$	(0.1	)
Other comprehensive income (loss):
Foreign currency translation adjustment		4.5		(20.2	)		4.6		(19.6	)		(0.1	)		(0.6	)
Unrealized gain (loss) on available-for-sale securities, net of tax		4.1		(8.2	)		4.1		(8.2	)		-			-
Unrealized gain (loss) on interest rate swap agreements, net of tax		-		(1.6	)		-		(1.6	)		-			-
Pension adjustment, net of tax		0.6		0.1			0.6		0.1			-			-
Comprehensive income (loss)	$	62.6	$	16.6		$	62.9	$	17.3		$	(0.3	)	$	(0.7	)

	Total					AMCOL Shareholders					Noncontrolling Interest
	Three Months Ended September 30,					Three Months Ended September 30,					Three Months Ended September 30,
	2012		2011			2012		2011			2012		2011
Net income (loss)	$	18.8	$	20.0		$	18.8	$	20.1		$	-	$	(0.1	)
Other comprehensive income (loss):
Foreign currency translation adjustment		8.0		(22.4	)		8.0		(21.8	)		-		(0.6	)
Unrealized gain (loss) on available-for-sale securities, net of tax		4.9		(1.6	)		4.9		(1.6	)		-		-
Unrealized gain (loss) on interest rate swap agreements, net of tax		-		(1.3	)		-		(1.3	)		-		-
Pension adjustment, net of tax		0.2		0.1			0.2		0.1			-		-
Comprehensive income (loss)	$	31.9	$	(5.2	)	$	31.9	$	(4.5	)	$	-	$	(0.7	)

The accompanying notes are an integral part of these condensed consolidated financial statements.

6

AMCOL INTERNATIONAL CORPORATION AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY

(Unaudited)

(Dollars in millions)

				AMCOL Shareholders
	Total Equity			Retained Earnings			Accumulated Other Comprehensive Income (Loss)			Common Stock		Treasury Stock			Paid-in Capital			Noncontrolling Interest
Balance at December 31, 2010	$	395.1		$	279.6		$	28.7		$	0.3	$	(8.9	)	$	95.1		$	0.3
Net income (loss)		46.5			46.6														(0.1	)
Cash dividends		(17.1	)		(17.1	)
Issuance of treasury shares pursuant to employee stock compensation plans		6.8											4.8			2.0
Tax benefit from employee stock compensation plans		0.6														0.6
Vesting of common stock in connection with employee stock compensation plans		3.7														3.7
Purchase of noncontrolling interest		(5.7	)													(5.4	)		(0.3	)
Sale of subsidiary shares to noncontrolling interest		-						(1.4	)							(3.4	)		4.8
Other comprehensive income (loss)		(28.5	)					(27.9	)										(0.6	)
Balance at September 30, 2011		401.4			309.1			(0.6	)		0.3		(4.1	)		92.6			4.1
Balance at December 31, 2011	$	396.7		$	316.4		$	(15.0	)	$	0.3	$	(3.4	)	$	94.3		$	4.1
Net income (loss)		53.4			53.6														(0.2	)
Cash dividends		(17.9	)		(17.9	)
Issuance of treasury shares pursuant to employee stock compensation plans		4.8											2.7			2.1
Tax benefit from employee stock compensation plans		(0.1	)													(0.1	)
Vesting of common stock in connection with employee stock compensation plans		4.4														4.4
Other comprehensive income (loss)		9.2						9.3											(0.1	)
Other		0.1														0.1
Balance at September 30, 2012		450.6			352.1			(5.7	)		0.3		(0.7	)		100.8			3.8

The accompanying notes are an integral part of these condensed consolidated financial statements.

7

AMCOL INTERNATIONAL CORPORATION AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

(Dollars in millions)

	Nine Months Ended September 30,
	2012			2011
Cash flow from operating activities:
Net income	$	53.4		$	46.5
Adjustments to reconcile from net income (loss) to net cash provided by (used in) operating activities:
Depreciation, depletion, and amortization		33.3			31.2
Other non-cash charges		5.3			4.1
Changes in assets and liabilities, net of effects of acquisitions:
Decrease (increase) in current assets		(43.1	)		(90.3	)
Decrease (increase) in noncurrent assets		(0.5	)		2.5
Increase (decrease) in current liabilities		19.0			24.2
Increase  (decrease) in noncurrent liabilities		5.2			(1.5	)
Net cash provided by (used in) operating activities		72.6			16.7
Cash flow from investing activities:
Capital expenditures		(54.2	)		(43.8	)
Investments in and advances to affiliates and joint ventures		0.2			(0.7	)
Proceeds from sale of land and depreciable assets		1.5			1.6
Other		1.9			2.5
Net cash (used in) investing activities		(50.6	)		(40.4	)
Cash flow from financing activities:
Net change in outstanding debt		(16.8	)		14.9
Proceeds from sales of treasury stock		4.9			6.9
Dividends		(17.2	)		(17.1	)
Excess tax benefits from stock-based compensation		0.2			0.7
Net cash provided by (used in) financing activities		(28.9	)		5.4
Effect of foreign currency rate changes on cash		0.9			0.8
Net increase (decrease) in cash and cash equivalents		(6.0	)		(17.5	)
Cash and cash equivalents at beginning of period		23.7			26.8
Cash and cash equivalents at end of period	$	17.7		$	9.3

The accompanying notes are an integral part of these condensed consolidated financial statements.

8

AMCOL INTERNATIONAL CORPORATION AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

(Dollars in millions)

Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Company Operations

We, AMCOL International Corporation (the “Company”), are a global company focused on long-term profitability growth through the development and application of minerals and technology products and services for use in various industrial and consumer markets.  We operate in five segments:  minerals and materials, environmental, oilfield services, transportation and corporate.

Our minerals and materials segment mines, processes and distributes minerals and products for use in various industrial and consumer markets, including metalcasting, pet care, laundry care, and drilling industries.  Additionally, this segment develops and manufactures synthetic materials principally for personal care applications.

Our environmental segment manufactures and distributes products for use as moisture and vapor barriers in commercial construction, landfills and a variety of other industrial and commercial applications and provides related services.

Our oilfield services segment provides both onshore and offshore water treatment filtration, well testing, pipeline separation, nitrogen, coil tubing and other services to the oil and natural gas industry.

Our transportation segment provides both long-haul trucking and freight brokerage services for our domestic subsidiaries as well as third parties.

Our corporate segment includes the elimination of intersegment sales as well as certain expenses associated with research and development, management, employee benefits and information technology activities for our Company.  Approximately 73% and 76% of the revenue elimination in the nine months ended September 30, 2012 and 2011, respectively, and 73% and 74% of the revenue elimination in the three months ended September 30, 2012 and 2011, respectively, represents elimination of shipping revenues between our transportation segment and its domestic sister companies.

The composition of our revenues by segment is as follows:

	Nine Months Ended September 30,
	2012			2011
Minerals and materials		51	%		50	%
Environmental		23	%		28	%
Oilfield services		25	%		20	%
Transportation		4	%		6	%
Intersegment sales		-3	%		-4	%
		100	%		100	%

Further discussion of our segment information is included in Note 5, “Business Segment Information.”

9

AMCOL INTERNATIONAL CORPORATION AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

(Dollars in millions)

Basis of Presentation

The financial information included herein has been prepared by management.  The information furnished herein includes all adjustments that are, in our opinion, necessary for a fair presentation of our results of operations and cash flows for the interim periods ended September 30, 2012 and 2011, and our financial position as of September 30, 2012, and all such adjustments are of a normal and recurring nature.  The accompanying condensed consolidated financial information should be read in conjunction with the consolidated financial statements and related notes included in our Annual Report on Form 10-K for the year ended December 31, 2011.

Certain items in the prior year’s condensed consolidated financial statements contained herein and notes thereto have been reclassified to conform to the condensed consolidated financial statement presentation for the three and nine months ended September 30, 2012.  These reclassifications did not have a material impact on our financial statements.

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“US GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period.  Actual results may differ from those estimates.

The results of operations for interim periods are not necessarily indicative of the results to be expected for the full year for a variety of reasons, including the seasonality of both our environmental segment, which varies due to the seasonal nature of the construction industry, and our oilfield services segment, which varies due to seasonal weather patterns in its various geographic markets.

Note 2: CORRECTION OF ERRORS IN PREVIOUSLY REPORTED FINANCIAL STATEMENTS

In August 2012, management in our environmental segment conducted a physical count of inventory at its operations in Spain.  Upon an evaluation of the results of that physical inventory, we determined that our inventory values as recorded were misstated and that these misstatements affected prior periods.

Our previously issued financial statements dating back to 2008 and prior years contain other errors which were not previously corrected as they were immaterial to our previously issued consolidated financial statements.  We assessed the materiality of all the errors in accordance with SEC Staff Accounting Bulletin (“SAB”) No. 99, Materiality and in accordance with the rollover and iron curtain methods as described in SAB No. 108, Considering the Effects of Prior Year Misstatements in Current Year Financial Statements.

10

AMCOL INTERNATIONAL CORPORATION AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

(Dollars in millions)

We concluded that these errors were individually and collectively immaterial to our previously issued financial statements.  However, under SAB 108, we concluded that there is a reasonable possibility that our financial statements for the twelve months ended December 31, 2012 will be materially misstated if we correct the prior year errors in the current year.  As a result, we decided to correct our prior year financial statements even though the errors are immaterial to the financial statements issued in those years.  Under SAB 108, correcting prior year financial statements for immaterial errors does not require our previously filed reports to be amended; rather, SAB 108 allows these corrections to be made when we file our prior period consolidated financial statements in our 2012 Form 10-K.

For all periods including and between the twelve months ended December 31, 2008 and the three months ended March 31, 2012, these errors, when combined with the errors in our Spanish operations, decreased net income available to AMCOL shareholders by $2.7.  Although there were several errors across various categories, we have summarized the errors into general categories and quantified the amount by which they increased (decreased) net income available to AMCOL shareholders as noted below:

· Spain - $2.8 decrease for errors associated with accounting for inventory and other items in our environmental segment’s Spanish operations;

· South Africa - $0.8 decrease for errors related to the accounting for the acquisition of mineral rights in our minerals and materials segment’s chromite operations in South Africa;

· Malaysia - $0.3 increase resulting from correcting errors in our oilfield services segment’s Malaysian operations, largely relating to improper recognition of expenses and errors in accounting for revenues;

· DongMing – adjustments to correct errors made in accounting for accounts payable in this China subsidiary;

· Tax - $0.2 increase resulting largely from inaccuracies in the accounting for income tax expense in our international operations; and

· $0.4 increase for other insignificant errors we have aggregated together.

Adjustments by category and increase (decrease) to Net income available to AMCOL sharesholders	Prior to			Twelve Months Ended December 31,									Three Months Ended March 31,
attributable to each category	2009			2009			2010			2011			2012			Total
Spain	$	-		$	(0.8	)	$	(0.6	)	$	(1.1	)	$	(0.3	)	$	(2.8	)
South Africa		-			(0.3	)		-			(0.5	)		-			(0.8	)
Malaysia		-			-			(0.4	)		0.7			-			0.3
DongMing		0.2			0.1			0.2			(0.5	)		-			-
Tax		(0.5	)		0.1			(1.2	)		1.5			0.3			0.2
Other		(0.3	)		(0.7	)		0.6			0.4			0.4			0.4
Total	$	(0.6	)	$	(1.6	)	$	(1.4	)	$	0.5		$	0.4		$	(2.7	)

11

AMCOL INTERNATIONAL CORPORATION AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

(Dollars in millions)

Corrections to annual periods ended December 31, 2009, December 31, 2010 and 2011 and as of December 31, 2010 and 2011

The effect of correcting these errors on our condensed consolidated statements of operations for our years ended December 31, 2009, 2010 and 2011 is as follows:

	Year Ended December 31, 2009
	Previously Reported			Adjustments																		As Adjusted
				Spain			South Africa			DongMing			Tax			Other			Total
Continuing Operations
Net sales	$	691.9		$	-		$	-		$	-		$	-		$	(3.7	)	$	(3.7	)	$	688.2
Cost of sales		505.6			0.7			0.5									(3.8	)		(2.6	)		503.0
Gross profit		186.3			(0.7	)		(0.5	)		-			-			0.1			(1.1	)		185.2
Selling, general and administrative expenses		133.4			0.3			0.1			(0.1	)					1.5			1.8			135.2
Operating profit		52.9			(1.0	)		(0.6	)		0.1			-			(1.4	)		(2.9	)		50.0
Other income (expense):
Interest expense, net		(12.2	)														0.2			0.2			(12.0	)
Other, net		(0.9	)														0.6			0.6			(0.3	)
		(13.1	)		-			-			-			-			0.8			0.8			(12.3	)
Income before income taxes and income (loss) from affiliates and joint ventures		39.8			(1.0	)		(0.6	)		0.1			-			(0.6	)		(2.1	)		37.7
Income tax expense (benefit)		5.3			(0.2	)		(0.1	)		-			(0.1	)		-			(0.4	)		4.9
Income before income (loss) from affiliates and joint ventures		34.5			(0.8	)		(0.5	)		0.1			0.1			(0.6	)		(1.7	)		32.8
Income (loss) from affiliates and joint ventures		0.1															(0.1	)		(0.1	)		-
Income (loss) from continuing operations		34.6			(0.8	)		(0.5	)		0.1			0.1			(0.7	)		(1.8	)		32.8
Discontinued Operations
Income (loss) on discontinued operations		0.3															-			-			0.3
Net income (loss)		34.9			(0.8	)		(0.5	)		0.1			0.1			(0.7	)		(1.8	)		33.1
Net income (loss) attributable to noncontrolling interests		0.1						(0.2	)								-			(0.2	)		(0.1	)
Net income (loss) attributable to AMCOL shareholders	$	34.8		$	(0.8	)	$	(0.3	)	$	0.1		$	0.1		$	(0.7	)	$	(1.6	)	$	33.2
Weighted average common shares outstanding		30.8																		30.8			30.8
Weighted average common and common equivalent shares outstanding		31.0																		31.0			31.0
Amounts attributable to AMCOL shareholders
Income from continuing operations, net of tax	$	34.5																	$	(1.6	)	$	32.9
Discontinued operations, net of tax		0.3																		-			0.3
Net income	$	34.8																	$	(1.6	)	$	33.2
Earnings per share attributable to AMCOL shareholders:
Basic earnings (loss) per share:
Continuing operations	$	1.12																	$	(0.05	)	$	1.07
Discontinued operations		0.01																		-			0.01
Net income	$	1.13																	$	(0.05	)	$	1.08
Diluted earnings (loss) per share:
Continuing operations	$	1.11																	$	(0.05	)	$	1.06
Discontinued operations		0.01																		-			0.01
Net income	$	1.12																	$	(0.05	)	$	1.07

12

AMCOL INTERNATIONAL CORPORATION AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

(Dollars in millions)

	Year Ended December 31, 2010
	Previously Reported			Adjustments																					As Adjusted
				Spain			South Africa			Malaysia			DongMing			Tax			Other			Total
Continuing Operations
Net sales	$	841.0		$	-		$	-		$	(0.6	)	$	-		$	-		$	(14.2	)	$	(14.8	)	$	826.2
Cost of sales		624.1			0.6															(12.7	)		(12.1	)		612.0
Gross profit		216.9			(0.6	)		-			(0.6	)		-			-			(1.5	)		(2.7	)		214.2
Selling, general and administrative expenses		146.9						(0.1	)					(0.3	)					(1.5	)		(1.9	)		145.0
Operating profit		70.0			(0.6	)		0.1			(0.6	)		0.3			-			(0.0	)		(0.8	)		69.2
Other income (expense):
Interest expense, net		(9.7	)																	0.1			0.1			(9.6	)
Other, net		1.2																		0.1			0.1			1.3
		(8.5	)		-			-			-			-			-			0.2			0.2			(8.3	)
Income before income taxes and income (loss) from affiliates and joint ventures		61.5			(0.6	)		0.1			(0.6	)		0.3			-			0.2			(0.6	)		60.9
Income tax expense (benefit)		19.4						0.1			(0.2	)		0.1			1.2			0.2			1.4			20.8
Income before income (loss) from affiliates and joint ventures		42.1			(0.6	)		-			(0.4	)		0.2			(1.2	)		(0.0	)		(2.0	)		40.1
Income (loss) from affiliates and joint ventures		(11.3	)																	0.2			0.2			(11.1	)
Income (loss) from continuing operations		30.8			(0.6	)		-			(0.4	)		0.2			(1.2	)		0.2			(1.8	)		29.0
Discontinued Operations
Income (loss) on discontinued operations		(0.9	)																	-			-			(0.9	)
Net income (loss)		29.9			(0.6	)		-			(0.4	)		0.2			(1.2	)		0.2			(1.8	)		28.1
Net income (loss) attributable to noncontrolling interests		(0.4	)																	(0.4	)		(0.4	)		(0.8	)
Net income (loss) attributable to AMCOL shareholders	$	30.3		$	(0.6	)	$	-		$	(0.4	)	$	0.2		$	(1.2	)	$	0.6		$	(1.4	)	$	28.9
Weighted average common shares outstanding		31.2																					31.2			31.2
Weighted average common and common equivalent shares outstanding		31.5																					31.5			31.5
Amounts attributable to AMCOL shareholders
Income from continuing operations, net of tax	$	31.2																				$	(1.4	)	$	29.8
Discontinued operations, net of tax		(0.9	)																				-			(0.9	)
Net income	$	30.3																				$	(1.4	)	$	28.9
Earnings per share attributable to AMCOL shareholders:
Basic earnings (loss) per share:
Continuing operations	$	1.00																				$	(0.04	)	$	0.96
Discontinued operations		(0.03	)																				-			(0.03	)
Net income	$	0.97																				$	(0.04	)	$	0.93
Diluted earnings (loss) per share:
Continuing operations	$	0.99																				$	(0.04	)	$	0.95
Discontinued operations		(0.03	)																				-			(0.03	)
Net income	$	0.96																				$	(0.04	)	$	0.92

13

AMCOL INTERNATIONAL CORPORATION AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

(Dollars in millions)

	Year Ended December 31, 2011
	Previously Reported			Adjustments																					As Adjusted
				Spain			South Africa			Malaysia			DongMing			Tax			Other			Total
Continuing Operations
Net sales	$	942.4		$	-		$	-		$	0.6		$	-		$	-		$	0.8		$	1.4		$	943.8
Cost of sales		689.5			1.2			0.3			-			-			-			(0.1	)		1.4			690.9
Gross profit		252.9			(1.2	)		(0.3	)		0.6			-			-			0.9			-			252.9
Selling, general and administrative expenses		165.2			0.1			-			(0.2	)		0.7			-			-			0.6			165.8
Operating profit		87.7			(1.3	)		(0.3	)		0.8			(0.7	)		-			0.9			(0.6	)		87.1
Other income (expense):
Interest expense, net		(11.5	)		-			-			-			-			-			0.2			0.2			(11.3	)
Other, net		0.2			-			-			-			-			-			-			-			0.2
		(11.3	)		-			-			-			-			-			0.2			0.2			(11.1	)
Income before income taxes and income (loss) from affiliates and joint ventures		76.4			(1.3	)		(0.3	)		0.8			(0.7	)		-			1.1			(0.4	)		76.0
Income tax expense (benefit)		21.8			(0.2	)		0.3			0.1			(0.2	)		(1.8	)		0.5			(1.3	)		20.5
Income before income (loss) from affiliates and joint ventures		54.6			(1.1	)		(0.6	)		0.7			(0.5	)		1.8			0.6			0.9			55.5
Income (loss) from affiliates and joint ventures		5.5												-			(0.3	)		0.1			(0.2	)		5.3
Income (loss) from continuing operations		60.1			(1.1	)		(0.6	)		0.7			(0.5	)		1.5			0.7			0.7			60.8
Discontinued Operations
Income (loss) on discontinued operations		(0.9	)																	(0.3	)		(0.3	)		(1.2	)
Net income (loss)		59.2			(1.1	)		(0.6	)		0.7			(0.5	)		1.5			0.4			0.4			59.6
Net income (loss) attributable to noncontrolling interests		0.1			-			(0.1	)		-			-			-			-			(0.1	)		-
Net income (loss) attributable to AMCOL shareholders	$	59.1		$	(1.1	)	$	(0.5	)	$	0.7		$	(0.5	)	$	1.5		$	0.4		$	0.5		$	59.6
Weighted average common shares outstanding		31.7																					31.7			31.7
Weighted average common and common equivalent shares outstanding		32.1																					32.1			32.1
Amounts attributable to AMCOL shareholders
Income from continuing operations, net of tax	$	60.0																				$	0.8		$	60.8
Discontinued operations, net of tax		(0.9	)																				(0.3	)		(1.2	)
Net income	$	59.1																				$	0.5		$	59.6
Earnings per share attributable to AMCOL shareholders:
Basic earnings (loss) per share:
Continuing operations	$	1.89																				$	0.03		$	1.92
Discontinued operations		(0.03	)																				(0.01	)		(0.04	)
Net income	$	1.86																				$	0.02		$	1.88
Diluted earnings (loss) per share:
Continuing operations	$	1.87																				$	0.02		$	1.89
Discontinued operations		(0.03	)																				(0.01	)		(0.04	)
Net income	$	1.84																				$	0.01		$	1.85

14

AMCOL INTERNATIONAL CORPORATION AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

(Dollars in millions)

The effect of correcting these errors in our condensed consolidated balance sheets as of December 31, 2010 and 2011 is as follows:

	December 31, 2010
ASSETS	Previously Reported		Adjustments																		As Adjusted
			Spain			South Africa		Malaysia			DongMing		Tax		Other			Total
Current assets:
Cash and cash equivalents	$	27.3	$	-		$	-	$	-		$	-	$	-	$	(0.5	)	$	(0.5	)	$	26.8
Accounts receivable, net		194.0		(0.4	)				(1.1	)						(2.4	)		(3.9	)		190.1
Inventories		107.5		(1.0	)											(0.9	)		(1.9	)		105.6
Prepaid expenses		12.6														0.4			0.4			13.0
Deferred income taxes		5.5														-						5.5
Income tax receivable		8.5														-						8.5
Other		6.2														-						6.2
Total current assets		361.6		(1.4	)		-		(1.1	)		-		-		(3.4	)		(5.9	)		355.7
Noncurrent assets:
Property, plant, equipment, and mineral rights and reserves:
Land		11.6														(0.7	)		(0.7	)		10.9
Mineral rights		51.4					13.6									-			13.6			65.0
Depreciable assets		454.4														(2.1	)		(2.1	)		452.3
		517.4		-			13.6		-			-		-		(2.8	)		10.8			528.2
Less: accumulated depreciation and depletion		256.9														(0.2	)		(0.2	)		256.7
		260.5		-			13.6		-			-		-		(2.6	)		11.0			271.5
Goodwill		70.9																				70.9
Intangible assets, net		42.6														(0.7	)		(0.7	)		41.9
Investment in and advances to affiliates and joint ventures		19.0														1.9			1.9			20.9
Available-for-sale securities		14.2														-						14.2
Deferred income taxes		7.6					1.6									-			1.6			9.2
Other assets		22.7							0.5							0.3			0.8			23.5
Total noncurrent assets		437.5		-			15.2		0.5			-		-		(1.1	)		14.6			452.1
Total Assets	$	799.1	$	(1.4	)	$	15.2	$	(0.6	)	$	-	$	-	$	(4.5	)	$	8.7		$	807.8

15

AMCOL INTERNATIONAL CORPORATION AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

(Dollars in millions)

	December 31, 2010
LIABILITIES AND SHAREHOLDERS' EQUITY	Previously Reported			Adjustments																					As Adjusted
				Spain			South Africa			Malaysia			DongMing			Tax			Other			Total
Current liabilities:
Accounts payable	$	53.2		$	-		$	-		$	-		$	(0.7	)				$	(1.1	)	$	(1.8	)	$	51.4
Accrued income taxes		4.1			(0.1	)					(0.2	)		0.2			1.2			(0.1	)		1.0			5.1
Accrued liabilities		55.2			0.1															(0.1	)					55.2
Total current liabilities		112.5			-			-			(0.2	)		(0.5	)		1.2			(1.3	)		(0.8	)		111.7
Noncurrent liabilities:
Long-term debt		236.2																		(0.5	)		(0.5	)		235.7
Pension liabilities		21.3																		-						21.3
Deferred compensation		8.7																		0.3			0.3			9.0
Deferred income tax		0.4						15.8									0.4			-			16.2			16.6
Other long-term liabilities		19.6																		(1.2	)		(1.2	)		18.4
Total noncurrent liabilities		286.2			-			15.8			-			-			0.4			(1.4	)		14.8			301.0
Shareholders' Equity:
Common stock		0.3																		-						0.3
Additional paid in capital		95.1																		-						95.1
Retained earnings		283.2			(1.4	)		(0.3	)		(0.4	)		0.5			(1.6	)		(0.4	)		(3.6	)		279.6
Accumulated other comprehensive income (loss)		28.9						(0.1	)											(0.1	)		(0.2	)		28.7
Less: Treasury stock		(8.9	)																	-						(8.9	)
Total AMCOL shareholders' equity		398.6			(1.4	)		(0.4	)		(0.4	)		0.5			(1.6	)		(0.5	)		(3.8	)		394.8
Noncontrolling interest		1.8						(0.2	)											(1.3	)		(1.5	)		0.3
Total equity		400.4			(1.4	)		(0.6	)		(0.4	)		0.5			(1.6	)		(1.8	)		(5.3	)		395.1
Total Liabilities and Shareholders' Equity	$	799.1		$	(1.4	)	$	15.2		$	(0.6	)	$	-		$	-		$	(4.5	)	$	8.7		$	807.8

16

AMCOL INTERNATIONAL CORPORATION AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

(Dollars in millions)

	December 31, 2011
ASSETS	Previously Reported		Adjustments																		As Adjusted
			Spain			South Africa		Malaysia			DongMing		Tax		Other			Total
Current assets:
Cash and cash equivalents	$	23.7	$	-		$	-	$	-		$	-	$	-	$	-					$	23.7
Accounts receivable, net		206.8		(1.6	)				(0.7	)						0.3			(2.0	)		204.8
Inventories		146.6		(1.8	)		0.2									(0.2	)		(1.8	)		144.8
Prepaid expenses		15.7														-						15.7
Deferred income taxes		5.9														-						5.9
Income tax receivable		6.9														-						6.9
Other		6.7														(0.6	)		(0.6	)		6.1
Total current assets		412.3		(3.4	)		0.2		(0.7	)		-		-		(0.5	)		(4.4	)		407.9
Noncurrent assets:
Property, plant, equipment, and mineral rights and reserves:
Land		13.9																				13.9
Mineral rights		41.9					10.6									-			10.6			52.5
Depreciable assets		482.3														0.3			0.3			482.6
		538.1		-			10.6		-			-		-		0.3			10.9			549.0
Less: accumulated depreciation and depletion		275.5														-						275.5
		262.6		-			10.6		-			-		-		0.3			10.9			273.5
Goodwill		69.5																				69.5
Intangible assets, net		36.6														-						36.6
Investment in and advances to affiliates and joint ventures		26.4														-						26.4
Available-for-sale securities		3.8														-						3.8
Deferred income taxes		7.8					0.7									-			0.7			8.5
Other assets		23.7							0.7							-			0.7			24.4
Total noncurrent assets		430.4		-			11.3		0.7			-		-		0.3			12.3			442.7
Total Assets	$	842.7	$	(3.4	)	$	11.5	$	-		$	-	$	-	$	(0.2	)	$	7.9		$	850.6

17

AMCOL INTERNATIONAL CORPORATION AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

(Dollars in millions)

	December 31, 2011
LIABILITIES AND SHAREHOLDERS' EQUITY	Previously Reported			Adjustments																				As Adjusted
				Spain			South Africa			Malaysia			DongMing		Tax			Other			Total
Current liabilities:
Accounts payable	$	56.4		$	-		$	-		$	-		$	-	$	-		$	0.1		$	0.1		$	56.5
Accrued income taxes		2.7			(0.3	)		0.1								0.1			(0.2	)		(0.3	)		2.4
Accrued liabilities		59.0			(0.8	)					(0.3	)							-			(1.1	)		57.9
Total current liabilities		118.1			(1.1	)		0.1			(0.3	)		-		0.1			(0.1	)		(1.3	)		116.8
Noncurrent liabilities:
Long-term debt		260.7																	-						260.7
Pension liabilities		34.8																	-						34.8
Deferred compensation		8.9																	-						8.9
Deferred income tax		0.8						12.6											0.1			12.7			13.5
Other long-term liabilities		19.2																	-						19.2
Total noncurrent liabilities		324.4			-			12.6			-			-		-			0.1			12.7			337.1
Shareholders' Equity:
Common stock		0.3																	-						0.3
Additional paid in capital		94.5						(0.2	)										-			(0.2	)		94.3
Retained earnings		319.5			(2.5	)		(0.9	)		0.3			-		(0.1	)		0.1			(3.1	)		316.4
Accumulated other comprehensive income (loss)		(14.9	)		0.2														(0.3	)		(0.1	)		(15.0	)
Less: Treasury stock		(3.4	)																-						(3.4	)
Total AMCOL shareholders' equity		396.0			(2.3	)		(1.1	)		0.3			-		(0.1	)		(0.2	)		(3.4	)		392.6
Noncontrolling interest		4.2						(0.1	)										-			(0.1	)		4.1
Total equity		400.2			(2.3	)		(1.2	)		0.3			-		(0.1	)		(0.2	)		(3.5	)		396.7
Total Liabilities and Shareholders' Equity	$	842.7		$	(3.4	)	$	11.5		$	-		$	-	$	-		$	(0.2	)	$	7.9		$	850.6

The correction of these errors had no effect on the previously reported amounts of operating, investing, and financing cash flows in our condensed consolidated statement of cash flows for the year ended December 31, 2009.  The effect of correcting these errors in our condensed consolidated statements of cash flows for the years ended December 31, 2010 and 2011 is as follows:

	Year Ended December 31, 2010
	Previously Reported			Adjustments			As Adjusted
Net cash provided by (used in) operating activities	$	48.1		$	0.1		$	48.2
Net cash (used in) investing activities		(48.1	)		(0.6	)		(48.7	)
Net cash provided by (used in) financing activities		(0.8	)		-			(0.8	)
Effect of foreign currency rate changes on cash		0.4			-			0.4
Net increase (decrease) in cash and cash equivalents		(0.4	)		(0.5	)		(0.9	)
Cash and cash equivalents at beginning of period		27.7			-			27.7
Cash and cash equivalents at end of period	$	27.3		$	(0.5	)	$	26.8

18

AMCOL INTERNATIONAL CORPORATION AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

(Dollars in millions)

	Year Ended December 31, 2011
	Previously reported			Adjustments			As Adjusted
Net cash provided by (used in) operating activities	$	38.6		$	0.2		$	38.8
Net cash (used in) investing activities		(54.7	)		0.5			(54.2	)
Net cash provided by (used in) financing activities		11.6			(0.2	)		11.4
Effect of foreign currency rate changes on cash		0.9			-			0.9
Net increase (decrease) in cash and cash equivalents		(3.6	)		0.5			(3.1	)
Cash and cash equivalents at beginning of period		27.3			(0.5	)		26.8
Cash and cash equivalents at end of period	$	23.7		$	-		$	23.7

With regards to our consolidated statement of comprehensive income for the year ended December 31, 2009, correcting these errors reduced total comprehensive income by $2.0, reflecting the $1.8 decrease to net income as previously discussed in addition to $0.2 of losses resulting from foreign currency translation.

With regards to our consolidated statement of comprehensive income for the year ended December 31, 2010, correcting these errors reduced total comprehensive income by $1.8 resulting from the $1.8 decrease to net income as previously discussed.

With regards to our consolidated statement of comprehensive income for the year ended December 31, 2011, correcting these errors increased total comprehensive income by $0.5, reflecting the $0.4 increase to net income as previously discussed in addition to $0.1 of income resulting from foreign currency translation.

With regards to our consolidated statements of equity, our retained earnings at January 1, 2009 decreased by $0.6 resulting from the decrease to net income attributable to AMCOL shareholders for the years prior to 2009.

19

AMCOL INTERNATIONAL CORPORATION AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

(Dollars in millions)

Corrections to interim periods within 2011

The effect of correcting these errors in our condensed consolidated statements of operations for each of the three months ended March 31, June 30 and September 30, 2011 is as follows:

	Quarter Ended March 31, 2011
	Previously Reported			Adjustments																			As Adjusted
				Spain			South Africa			Malaysia		DongMing		Tax			Other			Total
Continuing Operations
Net sales	$	217.8		$	-		$	-		$	0.6	$	-	$	-		$	0.2		$	0.8		$	218.6
Cost of sales		160.1			0.3			0.1										(0.3	)		0.1			160.2
Gross profit		57.7			(0.3	)		(0.1	)		0.6		-		-			0.5			0.7			58.4
Selling, general and administrative expenses		39.1																-						39.1
Operating profit		18.6			(0.3	)		(0.1	)		0.6		-		-			0.5			0.7			19.3
Other income (expense):
Interest expense, net		(2.7	)															0.1			0.1			(2.6	)
Other, net		(0.4	)															-						(0.4	)
		(3.1	)		-			-			-		-		-			0.1			0.1			(3.0	)
Income before income taxes and income (loss) from affiliates and joint ventures		15.5			(0.3	)		(0.1	)		0.6		-		-			0.6			0.8			16.3
Income tax expense (benefit)		4.3						0.1			0.1				(0.5	)		(0.1	)		(0.4	)		3.9
Income before income (loss) from affiliates and joint ventures		11.2			(0.3	)		(0.2	)		0.5		-		0.5			0.7			1.2			12.4
Income (loss) from affiliates and joint ventures		1.1													(0.1	)		-			(0.1	)		1.0
Income (loss) from continuing operations		12.3			(0.3	)		(0.2	)		0.5		-		0.4			0.7			1.1			13.4
Discontinued Operations
Income (loss) on discontinued operations		(0.1	)															-						(0.1	)
Net income (loss)		12.2			(0.3	)		(0.2	)		0.5		-		0.4			0.7			1.1			13.3
Net income (loss) attributable to noncontrolling interests		-																-						-
Net income (loss) attributable to AMCOL shareholders	$	12.2		$	(0.3	)	$	(0.2	)	$	0.5	$	-	$	0.4		$	0.7		$	1.1		$	13.3
Weighted average common shares outstanding		31.5																			31.5			31.5
Weighted average common and common equivalent shares outstanding		32.0																			32.0			32.0
Amounts attributable to AMCOL shareholders
Income from continuing operations, net of tax	$	12.3																		$	1.1		$	13.4
Discontinued operations, net of tax		(0.1	)																		-			(0.1	)
Net income	$	12.2																		$	1.1		$	13.3
Earnings per share attributable to AMCOL shareholders:
Basic earnings (loss) per share:
Continuing operations	$	0.39																		$	0.03		$	0.42
Discontinued operations		-																			-			-
Net income	$	0.39																		$	0.03		$	0.42
Diluted earnings (loss) per share:
Continuing operations	$	0.38																		$	0.04		$	0.42
Discontinued operations		-																			-			-
Net income	$	0.38																		$	0.04		$	0.42

20

AMCOL INTERNATIONAL CORPORATION AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

(Dollars in millions)
 

	Quarter Ended June 30, 2011
	Previously Reported			Adjustments																			As Adjusted
				Spain			South Africa			Malaysia		DongMing			Tax		Other			Total
Continuing Operations
Net sales	$	242.8		$	-		$	-		$	-	$	-		$	-	$	0.3		$	0.3		$	243.1
Cost of sales		180.7			0.3			0.1										-			0.4			181.1
Gross profit		62.1			(0.3	)		(0.1	)		-		-			-		0.3			(0.1	)		62.0
Selling, general and administrative expenses		40.3											0.7					-			0.7			41.0
Operating profit		21.8			(0.3	)		(0.1	)		-		(0.7	)		-		0.3			(0.8	)		21.0
Other income (expense):
Interest expense, net		(2.8	)															0.1			0.1			(2.7	)
Other, net		0.5																-						0.5
		(2.3	)		-			-			-		-			-		0.1			0.1			(2.2	)
Income before income taxes and income (loss) from affiliates and joint ventures		19.5			(0.3	)		(0.1	)		-		(0.7	)		-		0.4			(0.7	)		18.8
Income tax expense (benefit)		5.9						0.1					(0.2	)				(0.1	)		(0.2	)		5.7
Income before income (loss) from affiliates and joint ventures		13.6			(0.3	)		(0.2	)		-		(0.5	)		-		0.5			(0.5	)		13.1
Income (loss) from affiliates and joint ventures		(0.1	)															-						(0.1	)
Income (loss) from continuing operations		13.5			(0.3	)		(0.2	)		-		(0.5	)		-		0.5			(0.5	)		13.0
Discontinued Operations
Income (loss) on discontinued operations		0.2																-						0.2
Net income (loss)		13.7			(0.3	)		(0.2	)		-		(0.5	)		-		0.5			(0.5	)		13.2
Net income (loss) attributable to noncontrolling interests		-																-						-
Net income (loss) attributable to AMCOL shareholders	$	13.7		$	(0.3	)	$	(0.2	)	$	-	$	(0.5	)	$	-	$	0.5		$	(0.5	)	$	13.2
Weighted average common shares outstanding		31.7																			31.7			31.7
Weighted average common and common equivalent shares outstanding		32.2																			32.2			32.2
Amounts attributable to AMCOL shareholders
Income from continuing operations, net of tax	$	13.5																		$	(0.5	)	$	13.0
Discontinued operations, net of tax		0.2																			-			0.2
Net income	$	13.7																		$	(0.5	)	$	13.2
Earnings per share attributable to AMCOL shareholders:
Basic earnings (loss) per share:
Continuing operations	$	0.42																		$	(0.01	)	$	0.41
Discontinued operations		0.01																			-			0.01
Net income	$	0.43																		$	(0.01	)	$	0.42
Diluted earnings (loss) per share:
Continuing operations	$	0.42																		$	(0.02	)	$	0.40
Discontinued operations		0.01																			-			0.01
Net income	$	0.43																		$	(0.02	)	$	0.41

21

AMCOL INTERNATIONAL CORPORATION AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

(Dollars in millions)

	Quarter Ended September 30, 2011
	Previously Reported			Adjustments																			As Adjusted
				Spain			South Africa			Malaysia		DongMing		Tax			Other			Total
Continuing Operations
Net sales	$	248.1		$	-		$	-		$	-	$	-	$	-		$	-		$	-		$	248.1
Cost of sales		177.1			0.3			0.1										-			0.4			177.5
Gross profit		71.0			(0.3	)		(0.1	)		-		-		-			-			(0.4	)		70.6
Selling, general and administrative expenses		43.9																0.1			0.1			44.0
Operating profit		27.1			(0.3	)		(0.1	)		-		-		-			(0.1	)		(0.5	)		26.6
Other income (expense):
Interest expense, net		(2.8	)															-						(2.8	)
Other, net		(0.1	)															(0.1	)		(0.1	)		(0.2	)
		(2.9	)		-			-			-		-		-			(0.1	)		(0.1	)		(3.0	)
Income before income taxes and income (loss) from affiliates and joint ventures		24.2			(0.3	)		(0.1	)		-		-		-			(0.2	)		(0.6	)		23.6
Income tax expense (benefit)		6.7						0.1							(1.4	)		(0.1	)		(1.4	)		5.3
Income before income (loss) from affiliates and joint ventures		17.5			(0.3	)		(0.2	)		-		-		1.4			(0.1	)		0.8			18.3
Income (loss) from affiliates and joint ventures		3.0																-						3.0
Income (loss) from continuing operations		20.5			(0.3	)		(0.2	)		-		-		1.4			(0.1	)		0.8			21.3
Discontinued Operations
Income (loss) on discontinued operations		(1.0	)															(0.3	)		(0.3	)		(1.3	)
Net income (loss)		19.5			(0.3	)		(0.2	)		-		-		1.4			(0.4	)		0.5			20.0
Net income (loss) attributable to noncontrolling interests		-						(0.1	)									-			(0.1	)		(0.1	)
Net income (loss) attributable to AMCOL shareholders	$	19.5		$	(0.3	)	$	(0.1	)	$	-	$	-	$	1.4		$	(0.4	)	$	0.6		$	20.1
Weighted average common shares outstanding		31.8																			31.8			31.8
Weighted average common and common equivalent shares outstanding		32.2																			32.2			32.2
Amounts attributable to AMCOL shareholders
Income from continuing operations, net of tax	$	20.5																		$	0.9		$	21.4
Discontinued operations, net of tax		(1.0	)																		(0.3	)		(1.3	)
Net income	$	19.5																		$	0.6		$	20.1
Earnings per share attributable to AMCOL shareholders:
Basic earnings (loss) per share:
Continuing operations	$	0.64																		$	0.03		$	0.67
Discontinued operations		(0.03	)																		(0.01	)		(0.04	)
Net income	$	0.61																		$	0.02		$	0.63
Diluted earnings (loss) per share:
Continuing operations	$	0.64																		$	0.02		$	0.66
Discontinued operations		(0.03	)																		(0.01	)		(0.04	)
Net income	$	0.61																		$	0.01		$	0.62

22

AMCOL INTERNATIONAL CORPORATION AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

(Dollars in millions)

The effect of correcting these errors in our condensed consolidated statement of operations for the nine months ended September 30, 2011 is as follows:

	Nine Months Ended Sep 30, 2011
	Previously Reported			Adjustments																				As Adjusted
				Spain			South Africa			Malaysia		DongMing			Tax			Other			Total
Continuing Operations
Net sales	$	708.7		$	-		$	-		$	0.6	$	-		$	-		$	0.5		$	1.1		$	709.8
Cost of sales		517.9			0.9			0.3			-		-			-			(0.3	)		0.9			518.8
Gross profit		190.8			(0.9	)		(0.3	)		0.6		-			-			0.8			0.2			191.0
Selling, general and administrative expenses		123.3			-			-			-		0.7			-			0.1			0.8			124.1
Operating profit		67.5			(0.9	)		(0.3	)		0.6		(0.7	)		-			0.7			(0.6	)		66.9
Other income (expense):
Interest expense, net		(8.3	)		-			-			-		-			-			0.2			0.2			(8.1	)
Other, net		-			-			-			-		-			-			(0.1	)		(0.1	)		(0.1	)
		(8.3	)		-			-			-		-			-			0.1			0.1			(8.2	)
Income before income taxes and income (loss) from affiliates and joint ventures		59.2			(0.9	)		(0.3	)		0.6		(0.7	)		-			0.8			(0.5	)		58.7
Income tax expense (benefit)		16.9			-			0.3			0.1		(0.2	)		(1.9	)		(0.3	)		(2.0	)		14.9
Income before income (loss) from affiliates and joint ventures		42.3			(0.9	)		(0.6	)		0.5		(0.5	)		1.9			1.1			1.5			43.8
Income (loss) from affiliates and joint ventures		4.0			-			-			-		-			(0.1	)		-			(0.1	)		3.9
Income (loss) from continuing operations		46.3			(0.9	)		(0.6	)		0.5		(0.5	)		1.8			1.1			1.4			47.7
Discontinued Operations
Income (loss) on discontinued operations		(0.9	)		-			-			-		-			-			(0.3	)		(0.3	)		(1.2	)
Net income (loss)		45.4			(0.9	)		(0.6	)		0.5		(0.5	)		1.8			0.8			1.1			46.5
Net income (loss) attributable to noncontrolling interests		-			-			(0.1	)		-		-			-			-			(0.1	)		(0.1	)
Net income (loss) attributable to AMCOL shareholders	$	45.4		$	(0.9	)	$	(0.5	)	$	0.5	$	(0.5	)	$	1.8		$	0.8		$	1.2		$	46.6
Weighted average common shares outstanding		31.7																				31.7			31.7
Weighted average common and common equivalent shares outstanding		32.1																				32.1			32.1
Amounts attributable to AMCOL shareholders
Income from continuing operations, net of tax	$	46.3																			$	1.5		$	47.8
Discontinued operations, net of tax		(0.9	)																			(0.3	)		(1.2	)
Net income	$	45.4																			$	1.2		$	46.6
Earnings per share attributable to AMCOL shareholders:
Basic earnings (loss) per share:
Continuing operations	$	1.46																			$	0.05		$	1.51
Discontinued operations		(0.03	)																			(0.01	)		(0.04	)
Net income	$	1.43																			$	0.04		$	1.47
Diluted earnings (loss) per share:
Continuing operations	$	1.44																			$	0.05		$	1.49
Discontinued operations		(0.03	)																			(0.01	)		(0.04	)
Net income	$	1.41																			$	0.04		$	1.45

With regards to our condensed consolidated statement of comprehensive income for the three months ended March 31, 2011, correcting these errors increased total comprehensive income by $1.0, reflecting the $1.1 increase to net income as previously discussed in addition to $0.1 of losses resulting from foreign currency translation.

With regards to our condensed consolidated statement of comprehensive income for the three months ended June 30, 2011, correcting these errors reduced total comprehensive income by $0.6 resulting from the decrease to net income as previously discussed in addition to $0.1 of losses resulting from foreign currency translation.

23

AMCOL INTERNATIONAL CORPORATION AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

(Dollars in millions)

With regards to our condensed consolidated statement of comprehensive income for the three months ended September 30, 2011, correcting these errors increased total comprehensive income by $0.7 resulting from the $0.5 increase to net income as previously discussed in addition to $0.2 of income resulting from foreign currency translation.

With regards to our condensed consolidated statement of comprehensive income for the nine months ended September 30, 2011, correcting these errors increased total comprehensive income by $1.1, reflecting the $1.1 increase to net income as previously discussed.

The effect of correcting these errors in our condensed consolidated statements of cash flows for the three months ended March 31, 2011, six months ended June 30, 2011, and nine months ended September 30, 2011 is as follows:

	Three Months Ended March 31, 2011									Six Months Ended June 30, 2011
	Previously Reported			Adjustments			As Adjusted			Previously Reported			Adjustments			As Adjusted
Net cash provided by (used in) operating activities	$	10.3		$	-		$	10.3		$	13.9		$	0.1		$	14.0
Net cash (used in) investing activities		(10.3	)		0.5			(9.8	)		(24.4	)		0.5			(23.9	)
Net cash provided by (used in) financing activities		(6.3	)		-			(6.3	)		0.4			(0.1	)		0.3
Effect of foreign currency rate changes on cash		0.2			-			0.2			0.7			-			0.7
Net increase (decrease) in cash and cash equivalents		(6.1	)		0.5			(5.6	)		(9.4	)		0.5			(8.9	)
Cash and cash equivalents at beginning of period		27.3			(0.5	)		26.8			27.3			(0.5	)		26.8
Cash and cash equivalents at end of period	$	21.2		$	-		$	21.2		$	17.9		$	-		$	17.9

	Nine Months Ended September 30, 2011
	Previously reported			Adjustments			As Adjusted
Net cash provided by (used in) operating activities	$	16.6		$	0.1		$	16.7
Net cash (used in) investing activities		(40.9	)		0.5			(40.4	)
Net cash provided by (used in) financing activities		5.5			(0.1	)		5.4
Effect of foreign currency rate changes on cash		0.8			-			0.8
Net increase (decrease) in cash and cash equivalents		(18.0	)		0.5			(17.5	)
Cash and cash equivalents at beginning of period		27.3			(0.5	)		26.8
Cash and cash equivalents at end of period	$	9.3		$	-		$	9.3

24

AMCOL INTERNATIONAL CORPORATION AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

(Dollars in millions)

Corrections to three months ended March 31, 2012

The effect of correcting these errors in our condensed consolidated statement of operations for the three months ended March 31, 2012 is as follows:

	Quarter Ended March 31, 2012
	Previously Reported			Adjustments																	As Adjusted
				Spain			South Africa			Malaysia		Tax			Other			Total
Continuing Operations
Net sales	$	235.8		$	-		$	-		$	-	$	-		$	(0.2	)	$	(0.2	)	$	235.6
Cost of sales		170.7			0.4			0.1								(0.2	)		0.3			171.0
Gross profit		65.1			(0.4	)		(0.1	)		-		-			-			(0.5	)		64.6
Selling, general and administrative expenses		43.6			(0.2	)										(0.1	)		(0.3	)		43.3
Operating profit		21.5			(0.2	)		(0.1	)		-		-			0.1			(0.2	)		21.3
Other income (expense):
Interest expense, net		(2.7	)													-						(2.7	)
Other, net		(2.1	)													(0.1	)		(0.1	)		(2.2	)
		(4.8	)		-			-			-		-			(0.1	)		(0.1	)		(4.9	)
Income before income taxes and income (loss) from affiliates and joint ventures		16.7			(0.2	)		(0.1	)		-		-			-			(0.3	)		16.4
Income tax expense (benefit)		4.8			0.1			(0.1	)				(0.3	)		(0.2	)		(0.5	)		4.3
Income before income (loss) from affiliates and joint ventures		11.9			(0.3	)		-			-		0.3			0.2			0.2			12.1
Income (loss) from affiliates and joint ventures		1.2														-						1.2
Income (loss) from continuing operations		13.1			(0.3	)		-			-		0.3			0.2			0.2			13.3
Discontinued Operations
Income (loss) on discontinued operations		(0.2	)													0.2			0.2			-
Net income (loss)		12.9			(0.3	)		-			-		0.3			0.4			0.4			13.3
Net income (loss) attributable to noncontrolling interests		0.1														-						0.1
Net income (loss) attributable to AMCOL shareholders	$	12.8		$	(0.3	)	$	-		$	-	$	0.3		$	0.4		$	0.4		$	13.2
Weighted average common shares outstanding		32.0																	32.0			32.0
Weighted average common and common equivalent shares outstanding		32.3																	32.3			32.3
Amounts attributable to AMCOL shareholders
Income from continuing operations, net of tax	$	13.0																$	0.2		$	13.2
Discontinued operations, net of tax		(0.2	)																0.2			-
Net income	$	12.8																$	0.4		$	13.2
Earnings per share attributable to AMCOL shareholders:
Basic earnings (loss) per share:
Continuing operations	$	0.41																$	-		$	0.41
Discontinued operations		(0.01	)																0.01			-
Net income	$	0.40																$	0.01		$	0.41
Diluted earnings (loss) per share:
Continuing operations	$	0.41																$	-		$	0.41
Discontinued operations		(0.01	)																0.01			-
Net income	$	0.40																$	0.01		$	0.41

With regards to our consolidated statement of comprehensive income for the three months ended March 31, 2012, correcting these errors increased total comprehensive income by $0.3, reflecting the $0.4 increase to net income as previously discussed in addition to $0.1 of losses resulting from foreign currency translation.

25

AMCOL INTERNATIONAL CORPORATION AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

(Dollars in millions)

The effect of correcting these errors in our condensed consolidated statements of cash flows for the three months ended March 31, 2012 is as follows:

	Three Months Ended March 31, 2012
	Previously Reported			Adjustments			As Adjusted
Net cash provided by (used in) operating activities	$	20.6		$	0.3		$	20.9
Net cash (used in) investing activities		(15.3	)		(0.1	)		(15.4	)
Net cash provided by (used in) financing activities		(12.1	)		(0.2	)		(12.3	)
Net increase (decrease) in cash and cash equivalents		(6.8	)		-			(6.8	)
Cash and cash equivalents at beginning of period		23.7			-			23.7
Cash and cash equivalents at end of period	$	16.9		$	-		$	16.9

Note 3: EARNINGS PER SHARE

The following table provides further share information used in computing our earnings per share for the periods presented herein.  Basic earnings per share was computed by dividing net income attributable to AMCOL shareholders by the weighted average number of common shares outstanding during each period.  Diluted earnings per share was computed by dividing net income attributable to AMCOL shareholders by the weighted average common shares outstanding after consideration of the dilutive effect of stock compensation awards outstanding during each period.

	Nine Months Ended September 30,				Three Months Ended September 30,
	2012		2011		2012		2011
Weighted average number of common shares outstanding		32,024,603		31,671,781		32,071,202		31,799,536
Dilutive impact of stock based compensation		315,636		455,777		381,676		393,922
Weighted average number of common and common equivalent shares outstanding for the period		32,340,239		32,127,558		32,452,878		32,193,458
Number of common shares outstanding at the end of the period		31,959,139		31,666,904		31,959,139		31,666,904
Weighted average number of anti-dilutive shares excluded from the computation of diluted earnings per share		635,738		186,929		276,753		218,800

26

AMCOL INTERNATIONAL CORPORATION AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

(Dollars in millions)

Note 4: ADDITIONAL BALANCE SHEET INFORMATION

Our inventories at September 30, 2012 and December 31, 2011 are comprised of the following components:

	September 30, 2012		December 31, 2011
Crude stockpile inventories	$	61.6	$	54.5
In-process and finished goods inventories		71.4		64.4
Other raw material, container, and supplies inventories		27.8		25.9
	$	160.8	$	144.8

We mine various minerals using a surface mining process that requires the removal of overburden.  In certain areas and under various governmental regulations, we are obligated to restore the land comprising each mining site to its original condition at the completion of the mining activity.  We include an estimate of this reclamation liability in our condensed consolidated balance sheets; it is adjusted to reflect the passage of time and changes in estimated future cash outflows.  A reconciliation of the activity within our reclamation liability is as follows:

	Nine Months Ended September 30,
	2012			2011
Balance at beginning of period	$	9.3		$	7.5
Settlement of obligations		(3.1	)		(2.8	)
Liabilities incurred and accretion expense		3.8			4.4
Foreign currency		(0.1	)		(0.3	)
Balance at end of period	$	9.9		$	8.8

Note 5: BUSINESS SEGMENT INFORMATION

As previously mentioned, we operate in five segments.  We determine our operating segments based on the discrete financial information that is regularly evaluated by our chief operating decision maker, our President and Chief Executive Officer, in deciding how to allocate resources and in assessing performance.  Intersegment sales are not material and are eliminated in the corporate segment.  Our reportable measure of profit or loss for each segment is operating profit, which is defined as net sales less cost of sales and selling, general and administrative expenses related to a segment’s operations.  The costs deducted to arrive at operating profit do not include several items, such as net interest expense or income taxes.  Segment assets are those assets used in the operations of that segment.  Corporate assets include assets used in the operation of this segment as well as those used by or shared amongst our segments, including certain cash and equivalent assets, certain fixed assets, assets associated with certain employee benefit plans, and other miscellaneous assets.

27

AMCOL INTERNATIONAL CORPORATION AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

(Dollars in millions)

The following tables set forth certain financial information by segment:

	Nine Months Ended September 30,						Three Months Ended September 30,
	2012			2011			2012			2011
Net sales:
Minerals and materials	$	377.3		$	356.4		$	121.0		$	122.3
Environmental		172.8			197.6			60.4			71.1
Oilfield services		185.5			140.9			69.1			50.2
Transportation		33.5			42.3			10.7			14.8
Intersegment sales		(22.8	)		(27.4	)		(7.9	)		(10.3	)
Total	$	746.3		$	709.8		$	253.3		$	248.1
Operating profit (loss):
Minerals and materials	$	62.0		$	49.1		$	18.0		$	19.6
Environmental		13.6			17.9			6.6			7.8
Oilfield services		20.4			15.2			7.9			5.7
Transportation		0.7			1.9			0.2			0.7
Corporate		(16.8	)		(17.2	)		(5.1	)		(7.2	)
Total	$	79.9		$	66.9		$	27.6		$	26.6
	As of Sep 30, 2012			As of Dec. 31, 2011
Assets:
Minerals and materials	$	450.3		$	431.1
Environmental		173.8			160.0
Oilfield services		211.5			194.7
Transportation		3.1			3.9
Corporate		74.1			60.9
Total	$	912.8		$	850.6

28

AMCOL INTERNATIONAL CORPORATION AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

(Dollars in millions)

	Nine Months Ended September 30,					Three Months Ended September 30,
	2012			2011		2012		2011
Depreciation, depletion and amortization:
Minerals and materials	$	14.5		$	15.5	$	5.0	$	5.5
Environmental		4.0			4.1		1.3		1.5
Oilfield services		12.6			9.5		4.4		3.4
Transportation		0.1			0.1		0.1		0.1
Corporate		2.1			2.0		0.7		0.8
Total	$	33.3		$	31.2	$	11.5	$	11.3
Capital expenditures:
Minerals and materials	$	20.7		$	17.8	$	9.9	$	8.7
Environmental		7.9			6.4		1.6		4.6
Oilfield services		20.8			17.8		7.8		4.9
Transportation		-			0.2		-		-
Corporate		4.8			1.6		2.7		0.8
Total	$	54.2		$	43.8	$	22.0	$	19.0
Research and development (income) expense:
Minerals and materials	$	5.4		$	4.7	$	1.8	$	1.6
Environmental		1.8			1.6		0.6		0.5
Oilfield services		0.6			0.2		0.2		-
Corporate		(0.1	)		0.1		-		0.3
Total	$	7.7		$	6.6	$	2.6	$	2.4

Note 6: EMPLOYEE BENEFIT PLANS

Our net periodic benefit cost for our defined benefit pension plan was as follows:

	Nine Months Ended September 30,						Three Months Ended September 30,
	2012			2011			2012			2011
Service cost	$	1.3		$	1.1		$	0.4		$	0.3
Interest cost		2.0			2.0			0.7			0.7
Expected return on plan assets		(1.9	)		(2.1	)		(0.6	)		(0.7	)
Amortization of acturial loss		0.7			-			0.2			-
Net periodic benefit cost	$	2.1		$	1.0		$	0.7		$	0.3

As previously disclosed in our Annual Report on Form 10-K for the year ended December 31, 2011, we expect to contribute $1.7 to our pension plan in 2012, of which $1.3 was contributed in the nine months ended September 30, 2012.

29

AMCOL INTERNATIONAL CORPORATION AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

(Dollars in millions)

Note 7: INCOME TAXES

Our effective tax rate for the nine months ended September 30, 2012 and 2011 was 27.8% and 25.4%, respectively.  For both periods, the rate differs from the U.S. federal statutory rate of 35.0% largely due to depletion deductions, changes in tax reserves in 2011, and differences in local tax rates on the income from our foreign subsidiaries.

In the normal course of business, we are subject to examination by taxing authorities throughout the world.  With few exceptions, we are no longer subject to income tax examinations by tax authorities for years prior to 2004.  In general, the United States Internal Revenue Service (“IRS”) has examined our federal income tax returns for all years through 2009.

Note 8: DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES

As a multinational corporation with operations throughout the world, we are subject to certain market risks. We use a variety of practices to manage these market risks, including, when considered appropriate, derivative financial instruments. We use derivative financial instruments only for risk management and not for trading or speculative purposes.

The following table sets forth the fair values of our derivative instruments and where they are recorded within our condensed consolidated balance sheet:

		Fair Value as of
Liability Derivatives	Balance Sheet Location	September 30, 2012			December 31, 2011
Derivatives designated as hedging instruments:
Interest rate swaps	Other long-term liabilities	$	(8.9	)	$	(9.0	)

Cash flow hedges

	Amount of Gain or (Loss) Recognized in Other Comprehensive Income on Derivatives (Effective Portion)
Derivatives in Cash Flow Hedging Relationships	Nine Months Ended September 30,					Three Months Ended September 30,
	2012		2011			2012		2011
Interest rate swaps, net of tax	$	-	$	(1.6	)	$	-	$	(1.3	)

30

AMCOL INTERNATIONAL CORPORATION AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

(Dollars in millions)

We use interest rate swaps to manage floating interest rate risk on debt securities.  Interest rate differentials are paid or received on these arrangements over the life of the swap.  As of September 30, 2012 and 2011, we had interest rate swaps outstanding which effectively hedge the variable interest rate on $30.0 of our senior notes to a fixed rate of 5.6% per annum and $33.0 of our borrowings under our revolving credit agreement to a fixed rate of 3.3% per annum, plus credit spread.

Other

We are exposed to potential gains or losses from foreign currency fluctuations affecting net investments and earnings denominated in foreign currencies.  We are particularly sensitive to currency exchange rate fluctuations for the following currencies: Euro, pound sterling (GBP), Polish Zloty (PLN), South African rand (ZAR), Danish kroner (DKK), Swiss franc (SEK), India rupee (INR), Thai baht (THB), Chinese renminbi (CYN), and Malaysian ringgit (MYR).  When considered appropriate, we enter into foreign exchange derivative contracts to mitigate the risk of fluctuations on these exposures.

We have not designated our foreign currency derivative contracts for hedge accounting treatment and therefore, changes in fair value of these contracts are recorded in earnings as follows:

	Location of Gain or (Loss)	Amount of Gain or (Loss) Recognized in Income on Derivatives
	Recognized in Income on	Nine Months Ended September 30,					Three Months Ended September 30,
Derivatives Not Designated as Hedging Instruments	Derivatives	2012		2011			2012			2011
Foreign currency exchange contracts	Other, net	$	-	$	(0.8	)	$	(0.3	)	$	0.5

We did not have any significant foreign exchange derivative instruments outstanding as of September 30, 2012 or December 31, 2011.

Note 9: FAIR VALUE MEASUREMENTS

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.  Our calculation of the fair value of derivative instruments includes several assumptions.  The fair value hierarchy prioritizes these input assumptions in the following three broad levels:

Level 1 – Valuation is based on quoted prices (unadjusted) in active markets for identical assets or liabilities we have the ability to access at the measurement date.

Level 2 – Valuation is based on quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active and model based valuations for which all significant inputs are observable in the market.

Level 3 – Valuation is based on model based techniques that use unobservable inputs for the asset or liability. These inputs reflect our own assumptions about the assumptions market participants would use in pricing the asset or liability.

31

AMCOL INTERNATIONAL CORPORATION AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

(Dollars in millions)

The following tables categorize our fair value instruments, measured on a recurring basis, according to the assumptions used to calculate those values:

	Fair Value Measurements Using
Description	Asset / (Liability) Balance at 9/30/2012			Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)
Interest rate swaps	$	(8.9	)	$	-	$	(8.9	)	$	-
Available-for-sale securities		7.9			7.9		-			-
Deferred compensation plan assets		9.2			-		9.2			-
Supplementary pension plan assets		8.1			-		8.1			-

	Fair Value Measurements Using
Description	Asset / (Liability) Balance at 12/31/2011			Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)
Interest rate swaps	$	(9.0	)	$	-	$	(9.0	)	$	-
Available-for-sale securities		3.8			3.8		-			-
Deferred compensation plan assets		8.0			-		8.0			-
Supplementary pension plan assets		7.6			-		7.6			-

Interest rate swaps are valued using discounted cash flows.  The key input used is the LIBOR swap rate, which is observable at commonly quoted intervals for the full term of the swap.  Available-for-sale securities are valued using quoted market prices.  Deferred compensation and supplemental pension plan assets are valued using quoted prices for similar assets in active markets.

32

AMCOL INTERNATIONAL CORPORATION AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

(Dollars in millions)

The carrying value of our long-term debt approximates its fair value as the interest rate is near the current market rate yield.  The fair value of our long-term debt is determined using current applicable rates for similar instruments as of the balance sheet date.  The fair value of long-term debt for disclosure purpose is a Level 3 liability within the fair value category.

Note 10: NONCONTROLLING INTEREST

In January 2011, we acquired the remaining noncontrolling interest in Volclay South Africa (Proprietary) Limited, a part of our chromite business, for approximately $5.6. 

In February 2011, we sold 26% of our interest in Batlhako Mining Limited (“Batlhako”) to Vengawave (Proprietary) Limited, which is a Black Economic Empowerment enterprise (a “BEE”) in the Republic of South Africa.  Batlhako is our subsidiary dedicated strictly to mining chromite ore and selling it to one of our other subsidiaries for further processing and sale to the end customer.  South African law requires that we have a BEE as a partner in our mining operations and this transaction was consummated to comply with those regulations.

The following table sets forth the effects of these transactions on equity attributable to AMCOL’s shareholders:

	Nine Months Ended September 30,
	2012		2011
Net income attributable to AMCOL shareholders	$	53.6	$	46.6
Transfers from noncontrolling interest:
Decrease in additional paid-in capital for purchase of the remaining noncontrolling interest in  Volclay South Africa (Proprietary) Limited		-		(5.4	)
Decrease in additional paid-in capital for transfer of 26% interest in Batlhako		-		(3.4	)
Change from net income attributable to AMCOL shareholders and transfers from noncontrolling interest	$	53.6	$	37.8

Note 11: CONTINGENCIES

We are party to a number of lawsuits arising in the normal course of business.   Since the mid-1980s, we and/or our subsidiaries have been named as one of a number of defendants in product liability lawsuits relating to the minor free-silica content of our bentonite products used in the metalcasting industry.  The plaintiffs in these lawsuits are primarily employees of our foundry customers.  Our oilfield services segment is also party to two lawsuits alleging damages caused by our coiled tubing operations in Louisiana; one lawsuit alleges damages of $28 and the other of $9.  We do not believe that any of the aforementioned pending litigation will have a material adverse effect on our consolidated financial statements.

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Item 2:  Management’s Discussion and Analysis of Financial Condition and Results of Operations

Forward-Looking Statements

From time to time, certain statements we make, including statements in this Management's Discussion and Analysis of Financial Condition and Results of Operations section, constitute "forward-looking statements" made in reliance upon the safe harbor contained in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements include statements relating to our Company or our operations that are preceded by terms such as "expects," "believes," "anticipates," "intends" and similar expressions, and statements relating to anticipated growth and levels of capital expenditures. Such forward-looking statements are not guarantees of future performance and involve risks and uncertainties. Our actual results, performance or achievements could differ materially from the results, performance or achievements expressed in, or implied by, these forward-looking statements as a result of various factors, including without limitation the following: actual performance in our various markets; conditions in the metalcasting and construction markets; oil and gas prices and conditions in those industries; operating costs; seasonality of our environmental and oilfield services segments; competition and regulation; currency exchange rates and devaluations; delays in development, production and marketing of new products; integration of acquired businesses; conducting and expanding operations in international markets; and other factors set forth from time to time in our reports filed with the Securities and Exchange Commission (SEC).  We undertake no duty to update any forward looking statements to actual results or changes in our expectations.

Overview

We are a global company focused on long term profitability growth through the development and application of minerals and technology products and services for use in various industrial and consumer markets.  The majority of our revenue growth has been achieved by sustaining our products’ technological advantages, developing new products and applying them in innovative ways, bringing additional products and services to markets we already serve, and overall growth in the industries we serve.  We focus our research and development activities in areas where we can either leverage our current customer relationships and mineral reserves or enhance existing or related products and services.

For our products that use minerals, the principal mineral that we utilize is bentonite.  We own or lease bentonite reserves in the U.S., Australia, China and Turkey.  Additionally, through our affiliates and joint ventures, we have access to bentonite reserves in Egypt, India, and Mexico.  We also market and develop applications for other minerals, including chromite ore from our mine in South Africa.

Bentonite is surface mined when it is commercially feasible to have it shipped to a plant for further processing, including crushing, drying, milling, and packaging.  Bentonite deposits have varying physical properties which require us to identify which markets our reserves can serve.  Nicknamed the mineral of a thousand uses, bentonite’s unique characteristics include its ability to bind, swell, adsorb, control rheology, soften fabrics, and have its surface modified through chemical and physical reactions.  Our research and development activities, including our understanding of bentonite properties, mining methods, processing and application to markets, are some of the core components of our longevity and future prospects.

34

We operate in five segments:  minerals and materials, environmental, oilfield services, transportation and corporate.  Both our minerals and materials and environmental segments operate manufacturing facilities in North America, Europe, and the Asia-Pacific region.  Our minerals and materials segment also owns and operates a chromite mine in South Africa.  Our oilfield services segment principally operates in the Gulf of Mexico and surrounding states and also has a growing presence in South America, Africa and Asia.  Additionally, we have a transportation segment that performs trucking services for our domestic minerals and materials and environmental businesses as well as third parties.

Our customers are engaged in various end-markets and geographic regions. Customers in the minerals and materials segment range from foundries that produce castings for automotive, industrial, and transportation equipment, including heavy-duty trucks and railroad cars, to producers of consumer goods, including cat litter, cosmetics and laundry care.  Customers in our environmental segment include construction contractors, engineering contractors and government agencies.  The oilfield services segment’s customer base is primarily comprised of oil and natural gas service or exploration companies.  A significant portion of our products have been used in the same applications for decades and have experienced minimal technological obsolescence.  A majority of our sales are made pursuant to short-term agreements; therefore, terms of sale, such as pricing and volume, can change within our fiscal year.

A majority of our revenues are generated in the Americas, principally North America.  Consequently, the state of the U.S. economy, and especially the metalcasting, industrial construction, and oil and gas exploration and production industries, impacts our revenues.

Sustainable, long-term profitable growth is our primary objective.  We employ a number of strategic initiatives to achieve this goal:

· Organic growth:  The central component of our growth strategy is expansion of our product lines and market presence.  We have a history of commitment to research and development activities directed at bringing innovative products to market.  We believe this approach to growth offers the best probability of achieving our long-term goals at the lowest risk.

· Globalization:  As we have done for decades, we continue to expand our manufacturing and marketing organizations into emerging geographic markets.  We see significant opportunities in the Asia-Pacific and Eastern European regions for expanding our revenues and earnings over the long-term as a number of markets we serve, such as metalcasting and lining technologies, are expected to grow in these areas.  We expect to take advantage of these growth areas, either through our wholly-owned subsidiaries or investments in affiliates and joint ventures.

· Mineral development: Bentonite is a component in a majority of the products we supply.  Since it is a natural material, we must continually expand our reserve base to maintain a long-term business.  Our goal is to add new reserves to replace the bentonite mined each year.  Furthermore, we need to assure that new reserves meet the physical property requirements for our diverse product lines and are economical to mine.  Our organization is committed to developing its global reserve base to meet these requirements.

35

· Acquisitions: We continually seek to acquire complementary businesses, as appropriate, when we believe those businesses are fairly valued and fit into our growth strategy.

A number of risks will challenge us in meeting these long-term objectives, and there can be no assurance that we will achieve success in implementing any one or more of them.  We describe certain risks throughout this report as well as under “Item 1A. Risk Factors” and “Item 7A. Quantitative and Qualitative Disclosure About Market Risk” within our Annual Report on Form 10-K for the year ended December 31, 2011.  In general, the significance of these risks has not materially changed since our Annual Report on Form 10-K for the period ended December 31, 2011.

Critical Accounting Policies and Estimates

Management’s Discussion and Analysis of our Financial Condition and Results of Operations describes relevant aspects of our condensed consolidated financial statements, which have been prepared in accordance with accounting principles generally accepted in the United States.  We evaluate the accounting policies and estimates used to prepare the financial statements on an ongoing basis.  We consider the accounting policies used in preparing our financial statements to be critical accounting policies when they are both important to the portrayal of our financial condition and results of operations, and require us to make estimates, complex judgments, and assumptions, including with respect to events which are inherently uncertain.  As a result, actual results could differ from these estimates.  For more information on our critical accounting policies, please read our Annual Report on Form 10-K for the year ended December 31, 2011.

Analysis of Results of Operations

Following is a discussion and analysis that describes certain factors that have affected, and may continue to affect, our financial position and operating results.  This discussion should be read in conjunction with the accompanying condensed consolidated financial statements.

The following consolidated income statement review and segment analysis discuss the results for the three and nine months ended September 30, 2012 and the comparable results in the prior year.  In each section, a discussion of our consolidated results is presented first, followed by a more detailed discussion of performance within our segments.

36

Three months ended September 30, 2012 vs. September 30, 2011

Consolidated Income Statement Review

The table below compares our operating results for the three months ended September 30, 2012 and 2011.

	Three Months Ended September 30,
Consolidated	2012			2011			2012 vs. 2011
	(In Millions, Except Per Share Amounts)
Continuing operations
Net sales	$	253.3		$	248.1			2.1	%
Cost of sales		183.9			177.5
Gross profit		69.4			70.6			-1.7	%
margin %		27.4	%		28.5	%
Selling, general and administrative expenses		41.8			44.0			-5.0	%
Operating profit		27.6			26.6			3.8	%
margin %		10.9	%		10.7	%
Other income (expense):
Interest expense, net		(2.5	)		(2.8	)		-10.7	%
Other, net		-			(0.2	)		*
		(2.5	)		(3.0	)
Income before income taxes and income (loss) from affiliates and joint ventures		25.1			23.6
Income tax expense		7.4			5.3			39.6	%
effective tax rate		29.5	%		22.5	%
Income before income (loss) from affiliates and joint ventures		17.7			18.3
Income (loss) from affiliates and joint ventures		1.1			3.0			*
Income (loss) from continuing operations		18.8			21.3
Discontinued operations
Income (loss) on discontinued operations		-			(1.3	)		*
Net income (loss)		18.8			20.0			-6.0	%
Net income (loss) attributable to noncontrolling interests		-			(0.1	)		*
Net income (loss) attributable to AMCOL shareholders	$	18.8		$	20.1			-6.5	%
Earnings per share attributable to AMCOL shareholders
Basic earnings (loss) per share:
Continuing operations	$	0.59		$	0.67			-11.9	%
Discontinued operations		-			(0.04	)		*
Net income	$	0.59		$	0.63			-6.3	%
Diluted earnings (loss) per share
Continuing operations	$	0.58		$	0.66			-12.1	%
Discontinued operations		-			(0.04	)		*
Net income	$	0.58		$	0.62			-6.5	%
* Not meaningful

37

We measure sales fluctuations by the relevant components: organic, acquisitions, and foreign currency translation.  Fluctuation due to foreign currency translation is measured as the change in revenues resulting from differences in currency exchange rates between periods.  If applicable, fluctuation due to acquisitions is measured as the change in revenues resulting from acquired businesses within the first year (twelve consecutive months) we own them.  Any remaining fluctuation is due to organic components.  The following table details the consolidated sales fluctuations by components over the prior year’s comparable period:

	Organic			Acquisitions			Foreign Exchange			Total
Minerals and materials		0.2	%		0.0	%		-0.7	%		-0.5	%
Environmental		-2.7	%		0.0	%		-1.6	%		-4.3	%
Oilfield services		7.9	%		0.0	%		-0.3	%		7.6	%
Transportation & intersegment shipping		-0.7	%		0.0	%		0.0	%		-0.7	%
Total		4.7	%		0.0	%		-2.6	%		2.1	%
% of change		223.8	%		0.0	%		-123.8	%		100.0	%

The following table shows the distribution of sales across our three principal geographic regions (Americas; Europe, Middle East, and Africa (EMEA); and Asia Pacific) and the comparable total from the prior year’s period:

	Americas			EMEA			Asia Pacific			Total
Minerals and materials		28.6	%		8.6	%		10.0	%		47.2	%
Environmental		10.9	%		10.7	%		2.1	%		23.7	%
Oilfield services		19.5	%		2.3	%		5.4	%		27.2	%
Transportation & intersegment shipping		1.9	%		0.0	%		0.0	%		1.9	%
Total - current year's period		60.9	%		21.6	%		17.5	%		100.0	%
Total from prior year's comparable period		62.3	%		24.2	%		13.5	%		100.0	%

Net sales & Gross profit:

Our net sales grew organically and were negatively affected by foreign currency translation.  Our oilfield services segment increased sales 37.6% whereas our three other major segments experienced a decrease in sales.  The largest decrease occurred in our environmental segment which continues to be impacted by increased competition in a declining market.  Sales were less concentrated in our EMEA region due to decreased sales in our environmental segment, and the laundry care products within our minerals and materials segment.

Overall gross profit decreased due to decreased sales levels within three of our major segments as mentioned above.  In addition, our coil tubing services (within our oilfield services segment) suffered from a combination of increased competition, which decreased revenue rates, and cost increases in delivering its services.  These factors led to the overall 110 basis point decrease in gross profit margins.

38

Selling, general and administrative expenses (SG&A):

SG&A expenses decreased $2.2 million, most of which occurred in our environmental and corporate segments.  Our environmental segment benefitted from favorable foreign currency exchange rate movements and decreased bad debt expenses.  Costs of providing employee benefits decreased in our corporate segment, largely due to gains on certain assets underpinning one of our pension plans.

Income tax expense:

Our effective tax rate for the current quarter was 29.5% versus 22.5% in the prior year’s quarter.  Our income tax expense and effective tax rate fluctuated between the periods presented due to discrete items recorded and the distribution of income between taxing jurisdictions.  The prior year period includes gains from favorable settlements of income tax audits which reduced the effective rate in the prior year period by 420 basis points.  In addition, the current quarter’s income is more heavily concentrated in our domestic businesses which typically have a higher income tax rate than our foreign operations.

Income (loss) from affiliates and joint ventures:

Income from affiliates and joint ventures decreased $1.9 million in the current period as the prior year period included a $2.1 million gain from the sale of our Belgian joint venture investment.

Diluted earnings per share from continuing operations:

Diluted earnings per share from continuing operations decreased in the quarter due to the decrease in net income resulting from the decrease gross profit, increased income tax expense and lack of gains from joint venture investment sales as previously mentioned.

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Quarterly Review of Each Segment’s Results

Following is a review of operating results for each of our five reporting segments:

Minerals and Materials Segment

	Three Months Ended September 30,
Minerals and Materials	2012				2011				2012 vs. 2011
	(Dollars in millions)
Net sales	$	121.0	100.0	%	$	122.3	100.0	%	$	(1.3	)	-1.1	%
Cost of sales		89.8	74.2	%		90.7	74.2	%
Gross profit		31.2	25.8	%		31.6	25.8	%		(0.4	)	-1.3	%
Selling, general and administrative expenses		13.2	10.9	%		12.0	9.8	%		1.2		10.0	%
Operating profit		18.0	14.9	%		19.6	16.0	%		(1.6	)	-8.2	%

	Three Months Ended September 30,
Minerals and Materials Product Line Sales	2012		2011		% change
	(Dollars in millions)
Metalcasting	$	67.8	$	66.0		2.7	%
Specialty materials		22.7		25.5		-11.0	%
Basic minerals		15.2		14.5		4.8	%
Pet products		11.9		14.1		-15.6	%
Other product lines		3.4		2.2		54.5	%
Total		121.0		122.3		-1.1	%

Approximaty $1.6 million of the decrease in sales was caused by unfavorable foreign currency exchange rate movements.  Organically, we were able to increase selling prices, particularly in our metalcasting and pet products.  However, volumes decreased in pet products, laundry care (specialty minerals), and drilling additive products (basic minerals).  Overall, basic mineral product line sales increased, though, due to increased chromite by-product sales used in the ferrochrome market.

Our metalcasting product line, which includes chromite sales to foundry customers, continues to experience an increase in demand due to growth in demand for automobile and heavy equipment castings.  Our drilling additive product sales suffered in the quarter due to inventory destocking efforts from several large customers.

The increases in SG&A expenses led to the decrease in operating profits.  SG&A costs increased due to increased headcount and compensation costs.  These increases also caused the decrease in operating profit margin.

40

Environmental Segment

	Three Months Ended September 30,
Environmental	2012				2011				2012 vs. 2011
	(Dollars in Millions)
Net sales	$	60.4	100.0	%	$	71.1	100.0	%	$	(10.7	)	-15.0	%
Cost of sales		40.7	67.4	%		49.0	68.9	%
Gross profit		19.7	32.6	%		22.1	31.1	%		(2.4	)	-10.9	%
Selling, general and administrative expenses		13.1	21.7	%		14.3	20.1	%		(1.2	)	-8.4	%
Operating profit		6.6	10.9	%		7.8	11.0	%		(1.2	)	-15.4	%

	Three Months Ended September 30,
Environmental Product Line Sales	2012		2011		% change
	(Dollars in millions)
Lining technologies	$	25.1	$	29.6		-15.2	%
Building materials		20.3		21.4		-5.1	%
Drilling products		9.9		8.6		15.1	%
Contracting services		5.1		11.5		-55.7	%
Total		60.4		71.1		-15.0	%

Approximately 37% of the decrease in net sales resulted from unfavorable movements in foreign currency exchange rates, almost entirely in our European subsidiaries.  The majority of the remaining decrease also occurred in these subsidiaries as a result of our decision to exit our contracting services.  Our lining technologies product line also continues to experience weakened demand due to a declining market and increased competition.  These reductions have overshadowed increased sales of our drilling products.

The decrease in sales caused the decrease in gross profit.  However, with the decrease in lining technologies and contracting service revenues, net sales are becoming more concentrated in higher margin building materials and drilling product sales.  This, along with better cost management, has helped overall gross profit margins, which increased 150 basis points in the current period.

SG&A costs benefitted equally from decreased bad debt expenses and favorable foreign currency exchange rate movements.

Oilfield Services Segment

	Three Months Ended September 30,
Oilfield Services	2012				2011				2012 vs. 2011
	(Dollars in Millions)
Net sales	$	69.1	100.0	%	$	50.2	100.0	%	$	18.9	37.6	%
Cost of sales		51.4	74.4	%		34.9	69.5	%
Gross profit		17.7	25.6	%		15.3	30.5	%		2.4	15.7	%
Selling, general and administrative expenses		9.8	14.2	%		9.6	19.1	%		0.2	2.1	%
Operating profit		7.9	11.4	%		5.7	11.4	%		2.2	38.6	%

41

This segment has experienced strong growth due to increases in demand and our service capacity. Growth also came from our international filtration operations, which generated 69.5% of the increase.  Internationally, we have been more successful at winning large, finite term contracts and have increased sales in our engineering services directed at designing and building filtration equipment for customers.  Domestically, our revenues increased in water filtration, well testing, and pipeline services. Revenues were stagnant in our coil tubing services due to pricing pressures.

Nearly all of the improvement in gross profit was derived from our international operations due to the increased sales, as mentioned above, in addition to benefitting from new management in those locations.  Our coil tubing services also experienced cost increases in delivering services, which led to the decrease in gross profit margins.  The trends in operating profit and operating profit margin followed those of gross profit and gross profit margins.

Transportation Segment

	Three Months Ended September 30,
Transportation	2012				2011				2012 vs. 2011
	(Dollars in Millions)
Net sales	$	10.7	100.0	%	$	14.8	100.0	%	$	(4.1	)	-27.7	%
Cost of sales		9.6	89.7	%		13.1	88.5	%
Gross profit		1.1	10.3	%		1.7	11.5	%		(0.6	)	-35.3	%
Selling, general and administrative expenses		0.9	8.4	%		1.0	6.8	%		(0.1	)	-10.0	%
Operating profit		0.2	1.9	%		0.7	4.7	%		(0.5	)	-71.4	%

This segment provides services to third parties as well as AMCOL companies within our other segments.  Revenues decreased due to increased competition as well as decreased availability of drivers, who are being recruited to oil and gas opportunities in the Bakken shale region.  Operating profits decreased as a result of the decrease in revenues.

Corporate Segment

	Three Months Ended September 30,
Corporate	2012			2011			2012 vs. 2011
	(Dollars in Millions)
Intersegment sales	$	(7.9	)	$	(10.3	)		2.4
Intersegment cost of sales		(7.6	)		(10.2	)
Gross profit (loss)		(0.3	)		(0.1	)		(0.2	)
Selling, general and administrative expenses		4.8			7.1			(2.3	)	-32.4	%
Operating loss		(5.1	)		(7.2	)		2.1		-29.2	%

Intersegment sales are eliminated in our corporate segment.  These are mostly sales between our transportation segment and our minerals and materials and environmental segments as well as sales between our minerals and materials segment and environmental and oilfield services segments.

Corporate SG&A expenses decreased as costs of providing employee benefits decreased, largely due to less medical expenses and gains on certain assets underpinning some of our pension benefits.

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Nine months ended September 30, 2012 vs. September 30, 2011

Consolidated Income Statement Review

The table below compares our operating results for the nine month periods ended September 30, 2012 and 2011.

	Nine Months Ended September 30,
Consolidated	2012			2011			2012 vs. 2011
	(In Millions, Except Per Share Amounts)
Continuing operations
Net sales	$	746.3		$	709.8			5.1	%
Cost of sales		537.7			518.8
Gross profit		208.6			191.0			9.2	%
margin %		28.0	%		26.9	%
Selling, general and administrative expenses		128.7			124.1			3.7	%
Operating profit		79.9			66.9			19.4	%
margin %		10.7	%		9.4	%
Other income (expense):
Interest expense, net		(7.9	)		(8.1	)		-2.5	%
Other, net		(2.7	)		(0.1	)		*
		(10.6	)		(8.2	)
Income before income taxes and income (loss) from affiliates and joint ventures		69.3			58.7
Income tax expense		19.3			14.9			29.5	%
effective tax rate		27.8	%		25.4	%
Income before income (loss) from affiliates and joint ventures		50.0			43.8
Income (loss) from affiliates and joint ventures		3.4			3.9			*
Income (loss) from continuing operations		53.4			47.7
Discontinued operations
Income (loss) on discontinued operations		-			(1.2	)		*
Net income (loss)		53.4			46.5			14.8	%
Net income (loss) attributable to noncontrolling interests		(0.2	)		(0.1	)		*
Net income (loss) attributable to AMCOL shareholders	$	53.6		$	46.6			15.0	%
Earnings per share attributable to AMCOL shareholders
Basic earnings (loss) per share:
Continuing operations	$	1.67		$	1.51			10.6	%
Discontinued operations		-			(0.04	)		*
Net income	$	1.67		$	1.47			13.6	%
Diluted earnings (loss) per share
Continuing operations	$	1.66		$	1.49			11.4	%
Discontinued operations		-			(0.04	)		*
Net income	$	1.66		$	1.45			14.5	%

* Not meaningful

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The following table details the consolidated sales fluctuations by components over the prior year’s comparable period:

	Organic			Acquisitions			Foreign Exchange			Total
Minerals and materials		3.6	%		0.0	%		-0.7	%		2.9	%
Environmental		-2.0	%		0.0	%		-1.5	%		-3.5	%
Oilfield services		6.5	%		0.0	%		-0.2	%		6.3	%
Transportation & intersegment shipping		-0.6	%		0.0	%		0.0	%		-0.6	%
Total		7.5	%		0.0	%		-2.4	%		5.1	%
% of growth		147.1	%		0.0	%		-47.1	%		100.0	%

The following table shows the distribution of sales across our three principal geographic regions and the comparable total from the prior year’s period:

	Americas			EMEA			Asia Pacific			Total
Minerals and materials		31.0	%		8.5	%		10.3	%		49.8	%
Environmental		11.3	%		9.5	%		2.2	%		23.0	%
Oilfield services		19.7	%		1.7	%		3.5	%		24.9	%
Transportation & intersegment shipping		2.3	%		0.0	%		0.0	%		2.3	%
Total - current year's period		64.3	%		19.7	%		16.0	%		100.0	%
Total from prior year's comparable period		62.4	%		23.9	%		13.7	%		100.0	%

Net sales & Gross profit:

Organic increases in net sales were somewhat offset by unfavorable fluctuations in foreign currency exchange rates.  Our oilfield services segment has contributed the most to increased sales along with minerals and materials, while our environmental segment experienced a decrease in net sales.  See a discussion of those segments for further details.  Geographically, our sales have become more concentrated in the Americas due to decreases in Europe, largely in our environmental segment, and increases both domestically and in Asia, largely in our oilfield services segment.

The increase in gross profit results almost equally from increased sales and increased gross profit margins.  The increase in gross profit margins results from the 250 basis point improvement in margins within our minerals and materials segment as discussed later herein.

Selling, general and administrative expenses (SG&A):

SG&A expenses increased $4.6 million, the majority of which occurred in our oilfield services segment.  We have experienced increased operating leverage in our minerals and materials segment where SG&A expenses have increased at a substantially lower rate than sales.  Our environmental segment has been able to reduce its expenses while also benefitting from favorable foreign currency exchange rate movements.

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Other income (expense), net:

Other income (expense), net includes $1.8 million of losses on non-operating assets.  Excluding this, the remainder of the increase relates to increased losses on foreign currency transactions.

Income tax expense:

Our effective tax rate for the current period was 27.8% versus 25.4% in the prior year’s period.  Our income tax expense and effective tax rate fluctuated between the periods presented due to discrete items recorded and the distribution of income between taxing jurisdictions.  The prior year period includes gains from favorable settlements of income tax audits which depressed the effective rate in the prior year period by 170 basis points.  In addition, the current period’s income is more heavily concentrated in our domestic businesses which typically have a higher income tax rate than our foreign operations.

Income (loss) from affiliates and joint ventures:

The increase in income from affiliates and joint ventures is understated as the prior year period includes a $2.1 million gain related to our Belgian joint venture investment and $0.7 million of losses on our Russian investment; both investments were sold in 2011.

Diluted earnings per share from continuing operations:

Diluted earnings per share from continuing operations increased in the current period due largely to the increase in gross profits without significant accompanying increases in SG&A expenses.

Diluted earnings per share from discontinued operations:

Diluted earnings per share from discontinued operations contains $1.2 million of losses in the prior year period relating to the sale of our domestic contracting services business.

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Year-to-Date Review of Each Segment’s Results

Following is a review of operating results for each of our five reporting segments:

Minerals and Materials Segment

	Nine Months Ended September 30,
Minerals and Materials	2012				2011				2012 vs. 2011
	(Dollars in millions)
Net sales	$	377.3	100.0	%	$	356.4	100.0	%	$	20.9	5.9	%
Cost of sales		277.1	73.4	%		270.6	75.9	%
Gross profit		100.2	26.6	%		85.8	24.1	%		14.4	16.8	%
Selling, general and administrative expenses		38.2	10.1	%		36.7	10.3	%		1.5	4.1	%
Operating profit		62.0	16.5	%		49.1	13.8	%		12.9	26.3	%

	Nine Months Ended September 30,
Minerals and Materials Product Line Sales	2012		2011		% change
	(Dollars in millions)
Metalcasting	$	201.6	$	187.0		7.8	%
Specialty materials		75.7		78.7		-3.8	%
Basic minerals		52.2		41.3		26.4	%
Pet products		40.0		42.2		-5.2	%
Other product lines		7.8		7.2		8.3	%
Total		377.3		356.4		5.9	%

Overall organic growth was dampened 19% by unfavorable foreign currency exchange rate movements.  Selling price increases comprise 53% of the organic increase in sales with increased volumes comprising the remainder.  Our metalcasting product line revenues increased due to increased demand for our products following on from demand for automobile, heavy equipment, construction, and energy related castings.  We have also seen significant increases in basic minerals products due to increased sales of drilling additives, largely in our domestic market due to increased drilling activity especially in the first two quarters of the year.

Although selling price increases do outweigh cost increases, increased volumes contributed the most to increased gross profit and gross profit margins.  SG&A expenses have increased due to increased compensation and headcount required to support the growth in sales, but they have increased at a lower rate as compared to the rate of growth in sales; this explains the increase in operating profit and operating profit margins.

46

Environmental Segment

	Nine Months Ended September 30,
Environmental	2012				2011				2012 vs. 2011
	(Dollars in Millions)
Net sales	$	172.8	100.0	%	$	197.6	100.0	%	$	(24.8	)	-12.6	%
Cost of sales		120.0	69.4	%		137.4	69.5	%
Gross profit		52.8	30.6	%		60.2	30.5	%		(7.4	)	-12.3	%
Selling, general and administrative expenses		39.2	22.7	%		42.3	21.4	%		(3.1	)	-7.3	%
Operating profit (loss)		13.6	7.9	%		17.9	9.1	%		(4.3	)	-24.0	%

	Nine Months Ended September 30,
Environmental Product Line Sales	2012		2011		% change
	(Dollars in millions)
Lining technologies	$	71.9	$	84.5		-14.9	%
Building materials		58.2		60.6		-4.0	%
Drilling products		29.0		23.3		24.5	%
Contracting services		13.7		29.2		-53.1	%
Total		172.8		197.6		-12.6	%

Approximately 43% of the decrease in net sales resulted from unfavorable movements in foreign currency exchange rates, almost entirely in our European operations.  The majority of the remaining decrease also occurred in these operations as a result of our decision to exit the contracting services in Europe.  Our lining technologies product line also continues to experience weakened demand due to a declining market and increased competition.

The decrease in sales caused the decrease in gross profit.  However, with the decrease in lining technologies and contracting service revenues, net sales are becoming more concentrated in higher margin building materials and drilling product sales.  This, along with better cost management, has helped overall gross profit margins remain comparable.

SG&A costs decreased by $3.1 million, which is almost equally divided between favorable foreign currency exchange rate movements and organic decreases.  The current year period also includes a $0.8 million gain on the favorable settlement of a lawsuit.  However, the decrease in SG&A was not large enough to offset the decrease in gross profit, leading to the overall decrease in operating profits and operating profit margin.

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Oilfield Services Segment

	Nine Months Ended September 30,
Oilfield Services	2012				2011				2012 vs. 2011
	(Dollars in Millions)
Net sales	$	185.5	100.0	%	$	140.9	100.0	%	$	44.6	31.7	%
Cost of sales		133.2	71.8	%		100.3	71.2	%
Gross profit		52.3	28.2	%		40.6	28.8	%		11.7	28.8	%
Selling, general and administrative expenses		31.9	17.2	%		25.4	18.0	%		6.5	25.6	%
Operating profit		20.4	11.0	%		15.2	10.8	%		5.2	34.2	%

Our domestic revenues grew 16% while our international operations grew 110%.  Internationally, our operations have benefitted from new management, greater success at winning contracts, and an increase in the sales in our engineering services directed at designing and building filtration equipment for customers.  These international operations contributed nearly all of the growth in gross profit.

Approximately $2.1 million of the $6.5 million increase in SG&A expenses is due to increased bad debt expenses.  Other categories of expenses have increased in support of the revenue growth.

Our operating profits in this segment increased due to increased operating leverage.  However, our domestic coil tubing operations experienced a decrease in operating profit due to increased competition, which is manifested in decreased service rates, as well as cost increases overall.  Thus, nearly all the increase in operating profits was derived from our international operations.

Transportation Segment

	Nine Months Ended September 30,
Transportation	2012				2011				2012 vs. 2011
	(Dollars in Millions)
Net sales	$	33.5	100.0	%	$	42.3	100.0	%	$	(8.8	)	-20.8	%
Cost of sales		30.0	89.6	%		37.5	88.7	%
Gross profit		3.5	10.4	%		4.8	11.3	%		(1.3	)	-27.1	%
Selling, general and administrative expenses		2.8	8.4	%		2.9	6.9	%		(0.1	)	-3.4	%
Operating profit		0.7	2.0	%		1.9	4.4	%		(1.2	)	-63.2	%

This segment provides services to third parties as well as AMCOL companies within our other segments.  Revenues decreased due to increased competition as well as availability of drivers, who are being recruited to oil and gas opportunities in the Bakken shale region.  Operating profits decreased as a result of the decrease in revenues without a corresponding decrease in SG&A expenses.

48

Corporate Segment

	Nine Months Ended September 30,
Corporate	2012			2011			2012 vs. 2011
	(Dollars in Millions)
Intersegment sales	$	(22.8	)	$	(27.4	)		4.6
Intersegment cost of sales		(22.6	)		(27.0	)
Gross profit (loss)		(0.2	)		(0.4	)		0.2
Selling, general and administrative expenses		16.6			16.8			(0.2	)	-1.2	%
Operating loss		(16.8	)		(17.2	)		0.4		-2.3	%

Intersegment sales are eliminated in our corporate segment.  These are mostly sales between our transportation segment and our minerals and materials and environmental segments as well as sales between our minerals and materials segment to our environmental and oilfield services segments.

Balance Sheet Review

	As at
Financial Position ($ in millions)	September 30, 2012		December 31, 2011
Non-cash working capital	$	286.8	$	267.4
Goodwill & intangible assets		104.7		106.1
Total assets		912.8		850.6
Long-term debt		244.1		260.7
Other long-term obligations		67.3		62.9
Total equity		450.6		396.7

Non-cash working capital at September 30, 2012 increased $19.4 million as compared to the amount at December 31, 2011 due to increased working capital required to support the growth in the business.  Given the seasonality of our environmental and oilfield services segments as well as the project nature of some of our services provided in the oilfield services segment, working capital levels have historically increased in the early and middle parts of the year and then decreased later in the year; we do not see a reason why this trend would not continue.

We increased our investments in property, plant and equipment, mostly in our oilfield services and minerals and materials segments, to help grow and maintain those businesses.  Increased cash utilization, as evidenced by the decrease in our cash balance from the prior year end, and improved performance of working capital allowed us to not only fund these investments but also reduce our debt balance in the first nine months of 2012.

Our available-for-sale securities reflect the value of our equity ownership in Ashapura Minechem Limited (Ashapura), a company listed on the Bombay stock exchange, and increased $4.1 million in value as a result of the increase in value of that stock as quoted on the exchange.

49

Our accumulated other comprehensive loss decreased $9.2 million, of which $4.5 million decrease was due to the revaluation of the net assets of our foreign subsidiaries into our reporting currency, USD, during consolidation.  Although all foreign subsidiaries are subject to translation adjustments during consolidation, the exchange rate between the USD and the PLN has fluctuated significantly, causing the majority of the change in this account.  Unrealized gains on our available-for-sale securities accounted for $4.1 million of the decrease in accumulated other comprehensive loss.

Last, our treasury stock account has decreased due to the exercise of stock compensation awards by our employees.  We may exhaust our supply of treasury shares during 2012 as we provide them to employees upon exercise of stock compensation awards; if our supply is exhausted, we will issue additional shares as awards are exercised.

Liquidity and Capital Resources

Cash flows from operations, an ability to issue new debt instruments, an ability to lease equipment, and borrowings from our revolving credit facility have historically been our sources of funds to provide working capital, make capital expenditures, acquire businesses, repurchase common stock, and pay dividends to shareholders.  We believe cash flows from operations and borrowings from our unused and committed credit facility will be adequate to support our current business needs for the foreseeable future.

We may need additional debt or equity facilities in order to pursue acquisitions, when and if these opportunities become available, and we may or may not be able to obtain such facilities on terms substantially similar to our current facilities as discussed in Item 1A – Risk Factors of our Annual Report on Form 10-K filed for 2011.  Terms of any new facilities, especially interest rates or covenants, may be significantly different from those we currently have. 

All of the cash and cash equivalents on our Consolidated Balance Sheet as of September 30, 2012 and December 31, 2011 resides in our international subsidiaries.  Although the cash overseas is significantly less than the amounts these subsidiaries owe to our domestic subsidiaries, our foreign subsidiaries have cash needs which affect the ability to repatriate this cash.  Due to these liquidity needs, we consider our foreign earnings permanently reinvested and have not provided income taxes on approximately $141.8 million of foreign subsidiary earnings as of September 30, 2012.

Following is a discussion and analysis of our cash flow activities as presented in the Condensed Consolidated Statement of Cash Flows presented within Part 1, Item 1 of this report.

Cash Flows ($ in millions)	Nine Months Ended September 30,
	2012			2011
Net cash provided by operating activities	$	72.6		$	16.7
Net cash used in investing activities		(50.6	)		(40.4	)
Net cash provided by (used in) financing activities		(28.9	)		5.4

Cash flows from operating activities increased from the prior year period largely due to improved management of our working capital and greater net income.  Our accounts receivable and inventory balances have increased at a slower rate as compared to the prior year period.

50

Capital expenditures for the first nine months of 2012 and 2011 were $54.2 million and $43.8 million, respectively.  In these periods, the expenditures include $7.1 million and $5.9 million, respectively, associated with establishing our South African chromite operations.  In the nine months ended September 30, 2012, the majority of our capital expenditures occurred in our oilfield services segment and our minerals and materials segment, to maintain and grow those businesses.  We expect our capital expenditures in our fiscal year for 2012 to exceed the levels experienced in recent years.

Our cash flow from financing activities decreased significantly in the current year’s period as borrowings under our debt facilities decreased.  We utilized our cash and efficiently employed our working capital to fund growth in our business.  Long-term debt as a percentage of total capitalization decreased 460 basis points to 35.1%.  We experienced decreased cash proceeds from the exercise of stock compensation awards.  Dividends declared were $0.56 per share and $0.54 per share during the nine months ended September 30, 2012 and 2011, respectively.

We have approximately $185.0 million of borrowing capacity available from our revolving credit facility as of September 30, 2012.  We are in compliance with the financial covenants related to the revolving credit facility as of the end of the period covered by this report. 

We are party to a number of lawsuits arising in the normal course of business.   Since the mid-1980s, we and/or our subsidiaries have been named as one of a number of defendants in product liability lawsuits relating to the minor free-silica content of our bentonite products used in the metalcasting industry.  The plaintiffs in these lawsuits are primarily employees of our foundry customers.  Our oilfield services segment is also party to two lawsuits alleging damages caused by our coiled tubing operations in Louisiana; one lawsuit alleges damages of $28 million and the other of $9 million.  We do not believe that any pending litigation will have a material adverse effect on our consolidated financial statements.

Contractual Obligations and Off-Balance Sheet Arrangements

Item 7 of our Annual Report on Form 10-K, for the year ended December 31, 2011 discloses our contractual obligations and off-balance sheet arrangements.  There were no material changes in our contractual obligations and off-balance sheet arrangements.

Item 3: Quantitative and Qualitative Disclosures About Market Risk

There were no material changes in our market risk from the disclosures made in our Annual Report on Form 10-K for the year ended December 31, 2011 other than those discussed in Part 1, Item 2 of this report.

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Item 4: Controls and Procedures

Evaluation of Disclosure Controls and Procedures

Our management, with the participation of our Chief Executive Officer and Chief Financial Officer, has evaluated the effectiveness of our disclosure controls and procedures, as such term is defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), as of the end of the period covered by this report. Based on that evaluation, they concluded that, as of the end of such period, our disclosure controls and procedures were effective in recording, processing, summarizing, and reporting, on a timely basis, information we are required to disclose in the reports we file or submit under the Exchange Act.

Changes in Internal Control Over Financial Reporting

There were no changes in our internal control over financial reporting that occurred during our most recent fiscal quarter that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

PART II - OTHER INFORMATION

Item 4: Mine Safety Disclosures

The information concerning mine safety violations or other regulatory matters required by Section 1503(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act and Item 104 of Regulation S-K is included in Exhibit 95.1 to this Form 10-Q.

Item 6: Exhibits

Exhibit

Number

31.1 Certification of Chief Executive Officer Pursuant to Rule 13a-14(a)/15d-14(a)

31.2 Certification of Chief Financial Officer Pursuant to Rule 13a-14(a)/15d-14(a)

32 Certification of Periodic Financial Report Pursuant to 18 U.S.C. Section 1350

95.1 Mine Safety Disclosures

101 The following information from our Quarterly Report on Form 10-Q for the period ended September 30, 2012, formatted in XBRL (eXtensible Business Reporting Language):

(i) Condensed Consolidated Balance Sheets at September 30, 2012, and December 31, 2011,

(ii) Condensed Consolidated Statements of Operations for the three and nine months ended September 30, 2012 and 2011,

(iii) Condensed Consolidated Statements of Comprehensive Income (Loss) for the three and nine months ended September 30, 2012 and 2011,

(iv) Condensed Consolidated Statements of Changes in Equity for nine months ended September 30, 2012 and 2011,

(v) Condensed Consolidated Statements of Cash Flows for nine months ended September 30, 2012 and 2011, and

(vi) Notes to Condensed Consolidated Financial Statements.

52

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	AMCOL INTERNATIONAL CORPORATION
Date:  November 7, 2012	/s/ Ryan F. McKendrick
	Ryan F. McKendrick
	President and Chief Executive Officer
Date:   November 7, 2012	/s/ Donald W. Pearson
	Donald W. Pearson
	Senior Vice President and Chief Financial Officer

53

INDEX TO EXHIBITS

31.1 Certification of Chief Executive Officer Pursuant to Rule 13a-14(a)/15d-14(a)

31.2 Certification of Chief Financial Officer Pursuant to Rule 13a-14(a)/15d-14(a)

32 Certification of Periodic Financial Report Pursuant to 18 U.S.C. Section 1350

95.1 Mine Safety Disclosures

101 The following information from our Quarterly Report on Form 10-Q for the period ended September 30, 2012, formatted in XBRL (eXtensible Business Reporting Language):

(i) Condensed Consolidated Balance Sheets at September 30, 2012, and December 31, 2011,

(ii) Condensed Consolidated Statements of Operations for the three and nine months ended    September 30, 2012 and 2011,

(iii) Condensed Consolidated Statements of Comprehensive Income (Loss) for the three and nine months ended September 30, 2012 and 2011,

(iv) Condensed Consolidated Statements of Changes in Equity for nine months ended September 30, 2012 and 2011,

(v) Condensed Consolidated Statements of Cash Flows for nine months ended September 30, 2012 and 2011, and

(vi) Notes to Condensed Consolidated Financial Statements.

54

EX-31.1

Exhibit 31.1

AMCOL INTERNATIONAL CORPORATION

CERTIFICATION

Pursuant to Rule 13a – 14(a) / 15d-14(a)

I, Ryan F. McKendrick, certify that:

1. I have reviewed this quarterly report on Form 10-Q of AMCOL International Corporation;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation;  and

d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date:  November 7, 2012	/s/ Ryan F. McKendrick
	Ryan F. McKendrick President and Chief Executive Officer

EX-31.2

Exhibit 31.2

AMCOL INTERNATIONAL CORPORATION

CERTIFICATION

Pursuant to Rule 13a – 14(a) / 15d-14(a)

I, Donald W. Pearson, certify that:

1. I have reviewed this quarterly report on Form 10-Q of AMCOL International Corporation;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation;  and

d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date:  November 7, 2012	/s/ Donald W. Pearson
	Donald W. Pearson Senior Vice President and  Chief Financial Officer

EX-32

Exhibit 32

Certification of Periodic Financial Report

Pursuant to 18 U.S.C. Section 1350

Pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, each of the undersigned officers of AMCOL International Corporation (the “Company”) certifies that the quarterly report on Form 10-Q of the Company for the nine months ended September 30, 2012 fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934 and information contained in that Form 10-Q fairly presents, in all material respects, the financial condition and results of operations of the Company.

Date:  November 7, 2012	/s/ Ryan F. McKendrick
	Ryan F. McKendrick Chief Executive Officer
Date:  November 7, 2012	/s/ Donald W. Pearson
	Donald W. Pearson Chief Financial Officer

EX-95

Exhibit 95.1

Mine Safety Disclosures

We have in place health and safety programs that include extensive employee training, accident prevention, workplace inspection, emergency response, accident investigation, regulatory compliance and program auditing.  The objectives of our health and safety programs are to eliminate workplace incidents, comply with all mining-related regulations and improve mine safety.

The operation of our domestic mines is subject to regulation by the federal Mine Safety and Health Administration ("MSHA") under the Federal Mine Safety and Health Act of 1977 (the "Mine Act").  MSHA inspects our mines on a regular basis and issues various citations and orders when it believes a violation has occurred under the Mine Act.  As required by the reporting requirements included in section 1503(a) of the Dodd-Frank Act, we present the following information regarding mining safety and health matters, with respect to our mining operations.

For the three-month period ended September 30, 2012, none of our mining operations received written notice from MSHA of (i) an order issued under section 104(b) of the Mine Act; (iii) a citation or order for unwarrantable failure to comply with mandatory health or safety standards under section 104 (d) of the Mine Act; (iv) a flagrant violation under section 110(b)(2) of the Mine Act; (v) an imminent danger order under section 107(a) of the Mine Act; (vi) a pattern of violations of mandatory health or safety standards that are of such nature as could have significantly and substantially contributed to the cause and effect of our mine health or safety hazards under section 104(e) of the Mine Act; or (vii) the potential to have such a pattern.  For the three-month period ended September 30, 2012, we experienced no fatalities.

The table below sets forth by mining complex the total number of citations and/or orders issued during the three-month period ended September 30, 2012 by MSHA to AMCOL and its subsidiaries under the indicated provisions of the Mine Act, together with the total dollar value of proposed MSHA assessments.

Mine	Section 104 (1)	Proposed MSHA Assessments (2)	Legal Actions Pending as of Last Day of Period	Legal Actions Instituted During Period	Legal Actions Resolved During Period
Amounts are actual, not thousands
Gascoyne Mine & Mill	1	$ -	2 (3)	-	-
Belle Fourche Mill	-	-	1 (4)	-	4
Lovell Mill	1	-	2 (5)	-	-
Colony West Mill	-	267	3 (6)	1	-
Colony East Mill	1	2,817	7 (7)	1	-
Yellowtail Mine	-	-	-	-	-
Belle/Colony Mine	-	100	2 (8)	-	-
Sandy Ridge Mill	-	-	2 (9)	-	-

1. Total number of violations of mandatory health or safety standards that could significantly and substantially contribute to the cause and effect of a mine safety or health hazard under section 104 of the Mine Act for which AMCOL and its subsidiaries received a citation from MSHA

2. Total dollar amount of proposed assessments received from MSHA during the three-month period ended September 30, 2012.

3. This number consists of 2 pending legal actions related to contests of proposed penalties referenced in Subpart C of the Mine Act.

4. This number consists of 1 pending legal actions related to contests of proposed penalties referenced in Subpart C of the Mine Act.

5. This number consists of 2 pending legal action related to contests of proposed penalties referenced in Subpart C of the Mine Act.

6. This number consists of 3 pending legal actions related to contests of proposed penalties referenced in Subpart C of the Mine Act.

7. This number consists of 7 pending legal actions related to contests of proposed penalties referenced in Subpart C of the Mine Act.

8. This number consists of 2 pending legal actions related to contests of proposed penalties referenced in Subpart C of the Mine Act.

9. This number consists of 1 pending legal action related to contests of citations and orders referenced in Subpart B of the Mine Act; and 1 pending legal actions related to contests of proposed penalties referenced in Subpart C of the Mine Act.

In evaluating this information, consideration should be given to factors such as: (i) the number of citations and orders will vary depending on the size of the mine, (ii) the number of citations issued will vary from inspector to inspector and mine to mine, and (iii) citations and orders can be contested and appealed, and in that process, are often reduced in severity and amount, and are sometimes dismissed.

XML

BUSINESS SEGMENT INFORMATION (Details Textual)	9 Months Ended
	Sep. 30, 2012
Business Segment Information (Textual) [Abstract]
Number of operating segments	5

XML

NONCONTROLLING INTEREST (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended					9 Months Ended		12 Months Ended
	Sep. 30, 2012	Mar. 31, 2012	Sep. 30, 2011	Jun. 30, 2011	Mar. 31, 2011	Sep. 30, 2012	Sep. 30, 2011	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Change from net income and transfers from noncontrolling interest
Net income attributable to AMCOL shareholders	$ 18.8	$ 13.2	$ 20.1	$ 13.2	$ 13.3	$ 53.6	$ 46.6	$ 59.6	$ 28.9	$ 33.2
Transfers from noncontrolling interest:
Decrease in additional paid-in capital for purchase of the remaining noncontrolling interest in Volclay South Africa (Proprietary) Limited							(5.7)
Decrease in additional paid-in capital for transfer of 26% interest in Batlhako							0
AMCOL Shareholders [Member]
Change from net income and transfers from noncontrolling interest
Net income attributable to AMCOL shareholders						53.6	46.6
Transfers from noncontrolling interest:
Decrease in additional paid-in capital for purchase of the remaining noncontrolling interest in Volclay South Africa (Proprietary) Limited						0	(5.4)
Decrease in additional paid-in capital for transfer of 26% interest in Batlhako						0	(3.4)
Change from net income attributable to AMCOL shareholders and transfers from noncontrolling interest						$ 53.6	$ 37.8

XML

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Details Textual) (Interest rate swaps [Member], USD $) In Millions, unless otherwise specified	Sep. 30, 2012	Sep. 30, 2011
Senior Notes [Member]
Derivative Instruments and Hedging Activities (Textual) [Abstract]
Debt instrument outstanding	$ 30.0	$ 30.0
Interest Rate	5.60%	5.60%
Borrowings [Member]
Derivative Instruments and Hedging Activities (Textual) [Abstract]
Debt instrument outstanding	$ 33.0	$ 33.0
Interest Rate	3.30%	3.30%

XML

CORRECTION OF ERRORS IN PREVIOUSLY REPORTED FINANCIAL STATEMENTS (DETAILS 3) (USD $) In Millions, unless otherwise specified	3 Months Ended		6 Months Ended	9 Months Ended		12 Months Ended
	Mar. 31, 2012	Mar. 31, 2011	Jun. 30, 2011	Sep. 30, 2012	Sep. 30, 2011	Dec. 31, 2011	Dec. 31, 2010
Condensed consolidated statements of cash flows
Net cash provided by (used in) operating activities	$ 20.9	$ 10.3	$ 14.0	$ 72.6	$ 16.7	$ 38.8	$ 48.2
Net cash (used in) investing activities	(15.4)	(9.8)	(23.9)	(50.6)	(40.4)	(54.2)	(48.7)
Net cash provided by (used in) financing activities	(12.3)	(6.3)	0.3	(28.9)	5.4	11.4	(0.8)
Effect of foreign currency rate changes on cash		0.2	0.7	0.9	0.8	0.9	0.4
Net increase (decrease) in cash and cash equivalents	(6.8)	(5.6)	(8.9)	(6.0)	(17.5)	(3.1)	(0.9)
Cash and cash equivalents at beginning of period	23.7	26.8	26.8	23.7	26.8	26.8	27.7
Cash and cash equivalents at end of period	16.9	21.2	17.9	17.7	9.3	23.7	26.8
Previously reported [Member]
Condensed consolidated statements of cash flows
Net cash provided by (used in) operating activities	20.6	10.3	13.9		16.6	38.6	48.1
Net cash (used in) investing activities	(15.3)	(10.3)	(24.4)		(40.9)	(54.7)	(48.1)
Net cash provided by (used in) financing activities	(12.1)	(6.3)	0.4		5.5	11.6	(0.8)
Effect of foreign currency rate changes on cash		0.2	0.7		0.8	0.9	0.4
Net increase (decrease) in cash and cash equivalents	(6.8)	(6.1)	(9.4)		(18.0)	(3.6)	(0.4)
Cash and cash equivalents at beginning of period	23.7	27.3	27.3	23.7	27.3	27.3	27.7
Cash and cash equivalents at end of period	16.9	21.2	17.9		9.3	23.7	27.3
Adjustments [Member]
Condensed consolidated statements of cash flows
Net cash provided by (used in) operating activities	0.3	0	0.1		0.1	0.2	0.1
Net cash (used in) investing activities	(0.1)	0.5	0.5		0.5	0.5	(0.6)
Net cash provided by (used in) financing activities	(0.2)	0	(0.1)		(0.1)	(0.2)	0
Effect of foreign currency rate changes on cash		0	0		0	0	0
Net increase (decrease) in cash and cash equivalents	0	0.5	0.5		0.5	0.5	(0.5)
Cash and cash equivalents at beginning of period	0	(0.5)	(0.5)	0	(0.5)	(0.5)	0
Cash and cash equivalents at end of period	$ 0	$ 0	$ 0		$ 0	$ 0	$ (0.5)

XML

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)

9 Months Ended

Sep. 30, 2012

Derivative Instruments and Hedging Activities [Abstract]

Fair value of derivative instruments in the Balance Sheet

The following table sets forth the fair values of our derivative instruments and where they are recorded within our condensed consolidated balance sheet:

		Fair Value as of
Liability Derivatives	Balance Sheet Location	September 30, 2012			December 31, 2011
Derivatives designated as hedging instruments:
Interest rate swaps	Other long-term liabilities	$	(8.9	)	$	(9.0	)

Summary of Cash Flow Hedges

Cash flow hedges

	Amount of Gain or (Loss) Recognized in Other Comprehensive Income on Derivatives (Effective Portion)
Derivatives in Cash Flow Hedging Relationships	Nine Months Ended September 30,					Three Months Ended September 30,
	2012		2011			2012		2011
Interest rate swaps, net of tax	$	-	$	(1.6	)	$	-	$	(1.3	)

Changes in fair value of foreign exchange contracts

We have not designated our foreign currency derivative contracts for hedge accounting treatment and therefore, changes in fair value of these contracts are recorded in earnings as follows:

		Amount of Gain or (Loss) Recognized in Income on Derivatives
		Nine Months Ended September 30,					Three Months Ended September 30,
Derivatives Not Designated as Hedging Instruments	Location of Gain or (Loss) Recognized in Income on Derivatives	2012		2011			2012			2011
Foreign currency exchange contracts	Other, net	$	-	$	(0.8	)	$	(0.3	)	$	0.5

XML

CONTINGENCIES (Details) (USD $) In Millions, unless otherwise specified	9 Months Ended
	Sep. 30, 2012
Loss Contingencies [Line Items]
Lawsuit alleges damages	$ 28
Contingencies (Textual) [Abstract]
Lawsuit Filing Date	Since the mid-1980s
Plaintiffs in the lawsuits	employees of our foundry customers
Number of lawsuits alleging damages	2
Area of operation	Louisiana
Other [Member]
Loss Contingencies [Line Items]
Lawsuit alleges damages	$ 9

XML

INCOME TAXES (Details)	9 Months Ended
	Sep. 30, 2012	Sep. 30, 2011
Income Taxes (Textual) [Abstract]
Effective tax rate (in hundredths)	27.80%	25.40%
U.S federal statutory rate (in hundredths)	35.00%	35.00%

XML

ADDITIONAL BALANCE SHEET INFORMATION (Details 1) (USD $) In Millions, unless otherwise specified	9 Months Ended
	Sep. 30, 2012	Sep. 30, 2011
Reclamation liability
Balance at the beginning of the period	$ 9.3	$ 7.5
Settlement of obligations	(3.1)	(2.8)
Liabilities incurred and accretion expense	3.8	4.4
Foreign currency	(0.1)	(0.3)
Balance at the end of the period	$ 9.9	$ 8.8

XML

FAIR VALUE MEASUREMENTS (Details) (Fair Value Measurements Recurring [Member], USD $) In Millions, unless otherwise specified	Sep. 30, 2012	Dec. 31, 2011
Interest rate swaps [Member]
Summary of fair value instruments
Interest rate swaps	$ (8.9)	$ (9.0)
Interest rate swaps [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Summary of fair value instruments
Interest rate swaps	0	0
Interest rate swaps [Member] | Significant Other Observable Inputs (Level 2) [Member]
Summary of fair value instruments
Interest rate swaps	(8.9)	(9.0)
Interest rate swaps [Member] | Significant Unobservable Inputs (Level 3) [Member]
Summary of fair value instruments
Interest rate swaps	0	0
Available-for-sale Securities [Member]
Summary of fair value instruments
Available-for-sale securities	7.9	3.8
Available-for-sale Securities [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Summary of fair value instruments
Available-for-sale securities	7.9	3.8
Available-for-sale Securities [Member] | Significant Other Observable Inputs (Level 2) [Member]
Summary of fair value instruments
Available-for-sale securities	0	0
Available-for-sale Securities [Member] | Significant Unobservable Inputs (Level 3) [Member]
Summary of fair value instruments
Available-for-sale securities	0	0
Deferred compensation plan assets [Member]
Summary of fair value instruments
Assets, Fair Value Disclosure	9.2	8.0
Deferred compensation plan assets [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Summary of fair value instruments
Assets, Fair Value Disclosure	0	0
Deferred compensation plan assets [Member] | Significant Other Observable Inputs (Level 2) [Member]
Summary of fair value instruments
Assets, Fair Value Disclosure	9.2	8.0
Deferred compensation plan assets [Member] | Significant Unobservable Inputs (Level 3) [Member]
Summary of fair value instruments
Assets, Fair Value Disclosure	0	0
Supplementary pension plan assets [Member]
Summary of fair value instruments
Assets, Fair Value Disclosure	8.1	7.6
Supplementary pension plan assets [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Summary of fair value instruments
Assets, Fair Value Disclosure	0	0
Supplementary pension plan assets [Member] | Significant Other Observable Inputs (Level 2) [Member]
Summary of fair value instruments
Assets, Fair Value Disclosure	8.1	7.6
Supplementary pension plan assets [Member] | Significant Unobservable Inputs (Level 3) [Member]
Summary of fair value instruments
Assets, Fair Value Disclosure	$ 0	$ 0

XML

EARNINGS PER SHARE

9 Months Ended

Sep. 30, 2012

Earnings Per Share [Abstract]

EARNINGS PER SHARE

Note 3: EARNINGS PER SHARE

The following table provides further share information used in computing our earnings per share for the periods presented herein.  Basic earnings per share was computed by dividing net income attributable to AMCOL shareholders by the weighted average number of common shares outstanding during each period.  Diluted earnings per share was computed by dividing net income attributable to AMCOL shareholders by the weighted average common shares outstanding after consideration of the dilutive effect of stock compensation awards outstanding during each period.

	Nine Months Ended September 30,				Three Months Ended September 30,
	2012		2011		2012		2011
Weighted average number of common shares outstanding		32,024,603		31,671,781		32,071,202		31,799,536
Dilutive impact of stock based compensation		315,636		455,777		381,676		393,922
Weighted average number of common and common equivalent
shares outstanding for the period		32,340,239		32,127,558		32,452,878		32,193,458
Number of common shares outstanding at the end of the period		31,959,139		31,666,904		31,959,139		31,666,904
Weighted average number of anti-dilutive shares excluded from the computation of diluted earnings per share		635,738		186,929		276,753		218,800

XML

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Details) (Other long-term liabilities [Member], Derivatives designated as hedging instruments [Member], Interest rate swaps [Member], USD $) In Millions, unless otherwise specified	Sep. 30, 2012	Dec. 31, 2011
Other long-term liabilities [Member] | Derivatives designated as hedging instruments [Member] | Interest rate swaps [Member]
Liability Derivatives
Fair value of Derivative liability	$ (8.9)	$ (9.0)

XML

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Textual)	3 Months Ended		9 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012	Sep. 30, 2011
Summary of Significant Accounting Policies (Textual) [Abstract]
Number of operating segments			5
Percentage of revenue elimination (in hundredths)	73.00%	74.00%	73.00%	76.00%

XML

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	Sep. 30, 2012	Sep. 30, 2011
Revenue by segment
Percentage of revenue by segment	100.00%	100.00%
Minerals and materials [Member]
Revenue by segment
Percentage of revenue by segment	51.00%	50.00%
Environmental [Member]
Revenue by segment
Percentage of revenue by segment	23.00%	28.00%
Oilfield services [Member]
Revenue by segment
Percentage of revenue by segment	25.00%	20.00%
Transportation [Member]
Revenue by segment
Percentage of revenue by segment	4.00%	6.00%
Intersegment sales [Member]
Revenue by segment
Percentage of revenue by segment	(3.00%)	(4.00%)

XML

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Details 1) (Interest rate swaps [Member], Derivatives in Cash Flow Hedging Relationships [Member], USD $) In Millions, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012	Sep. 30, 2011
Interest rate swaps [Member] | Derivatives in Cash Flow Hedging Relationships [Member]
Summary of Cash Flow Hedges
Amount of Gain or (Loss) Recognized in Other Comprehensive Income on Derivatives (Effective Portion)	$ 0	$ (1.3)	$ 0	$ (1.6)

XML

CORRECTION OF ERRORS IN PREVIOUSLY REPORTED FINANCIAL STATEMENTS (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended	3 Months Ended	9 Months Ended	12 Months Ended				3 Months Ended	9 Months Ended	12 Months Ended				3 Months Ended	9 Months Ended	12 Months Ended				3 Months Ended	9 Months Ended	12 Months Ended				3 Months Ended	9 Months Ended	12 Months Ended				3 Months Ended	9 Months Ended	12 Months Ended				3 Months Ended	9 Months Ended	12 Months Ended
	Dec. 31, 2008 Previously reported [Member]	Mar. 31, 2012 Adjustments [Member]	Sep. 30, 2012 Adjustments [Member]	Dec. 31, 2011 Adjustments [Member]	Dec. 31, 2010 Adjustments [Member]	Dec. 31, 2009 Adjustments [Member]	Dec. 31, 2008 Tax [Member] Previously reported [Member]	Mar. 31, 2012 Tax [Member] Adjustments [Member]	Sep. 30, 2012 Tax [Member] Adjustments [Member]	Dec. 31, 2011 Tax [Member] Adjustments [Member]	Dec. 31, 2010 Tax [Member] Adjustments [Member]	Dec. 31, 2009 Tax [Member] Adjustments [Member]	Dec. 31, 2008 Other [Member] Previously reported [Member]	Mar. 31, 2012 Other [Member] Adjustments [Member]	Sep. 30, 2012 Other [Member] Adjustments [Member]	Dec. 31, 2011 Other [Member] Adjustments [Member]	Dec. 31, 2010 Other [Member] Adjustments [Member]	Dec. 31, 2009 Other [Member] Adjustments [Member]	Dec. 31, 2008 Spain [Member] Previously reported [Member]	Mar. 31, 2012 Spain [Member] Adjustments [Member]	Sep. 30, 2012 Spain [Member] Adjustments [Member]	Dec. 31, 2011 Spain [Member] Adjustments [Member]	Dec. 31, 2010 Spain [Member] Adjustments [Member]	Dec. 31, 2009 Spain [Member] Adjustments [Member]	Dec. 31, 2008 South Africa [Member] Previously reported [Member]	Mar. 31, 2012 South Africa [Member] Adjustments [Member]	Sep. 30, 2012 South Africa [Member] Adjustments [Member]	Dec. 31, 2011 South Africa [Member] Adjustments [Member]	Dec. 31, 2010 South Africa [Member] Adjustments [Member]	Dec. 31, 2009 South Africa [Member] Adjustments [Member]	Dec. 31, 2008 Malaysia [Member] Previously reported [Member]	Mar. 31, 2012 Malaysia [Member] Adjustments [Member]	Sep. 30, 2012 Malaysia [Member] Adjustments [Member]	Dec. 31, 2011 Malaysia [Member] Adjustments [Member]	Dec. 31, 2010 Malaysia [Member] Adjustments [Member]	Dec. 31, 2009 Malaysia [Member] Adjustments [Member]	Dec. 31, 2008 Dong Ming [Member] Previously reported [Member]	Mar. 31, 2012 Dong Ming [Member] Adjustments [Member]	Sep. 30, 2012 Dong Ming [Member] Adjustments [Member]	Dec. 31, 2011 Dong Ming [Member] Adjustments [Member]	Dec. 31, 2010 Dong Ming [Member] Adjustments [Member]	Dec. 31, 2009 Dong Ming [Member] Adjustments [Member]
Total/ Reduction In net income (loss)	$ (0.6)	$ 0.4	$ (2.7)	$ 0.5	$ (1.4)	$ (1.6)	$ (0.5)	$ 0.3	$ 0.2	$ 1.5	$ (1.2)	$ 0.1	$ (0.3)	$ 0.4	$ 0.4	$ 0.4	$ 0.6	$ (0.7)	$ 0	$ (0.3)	$ (2.8)	$ (1.1)	$ (0.6)	$ (0.8)	$ 0	$ 0	$ (0.8)	$ (0.5)	$ 0	$ (0.3)	$ 0	$ 0	$ 0.3	$ 0.7	$ (0.4)	$ 0	$ 0.2	$ 0	$ 0	$ (0.5)	$ 0.2	$ 0.1

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CORRECTION OF ERRORS IN PREVIOUSLY REPORTED FINANCIAL STATEMENTS (DETAILS 1) (USD $) In Millions, except Share data, unless otherwise specified	3 Months Ended					9 Months Ended		12 Months Ended
	Sep. 30, 2012	Mar. 31, 2012	Sep. 30, 2011	Jun. 30, 2011	Mar. 31, 2011	Sep. 30, 2012	Sep. 30, 2011	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Continuing Operations
Net sales	$ 253.3	$ 235.6	$ 248.1	$ 243.1	$ 218.6	$ 746.3	$ 709.8	$ 943.8	$ 826.2	$ 688.2
Cost of sales	183.9	171.0	177.5	181.1	160.2	537.7	518.8	690.9	612.0	503.0
Gross profit	69.4	64.6	70.6	62.0	58.4	208.6	191.0	252.9	214.2	185.2
Selling, general and administrative expenses	41.8	43.3	44.0	41.0	39.1	128.7	124.1	165.8	145.0	135.2
Operating profit	27.6	21.3	26.6	21.0	19.3	79.9	66.9	87.1	69.2	50.0
Other income (expense):
Interest expense, net	(2.5)	(2.7)	(2.8)	(2.7)	(2.6)	(7.9)	(8.1)	(11.3)	(9.6)	(12.0)
Other, net	0	(2.2)	(0.2)	0.5	(0.4)	(2.7)	(0.1)	0.2	1.3	(0.3)
Total other income (expense), net	(2.5)	(4.9)	(3.0)	(2.2)	(3.0)	(10.6)	(8.2)	(11.1)	(8.3)	(12.3)
Income before income taxes and income (loss) from affiliates and joint ventures	25.1	16.4	23.6	18.8	16.3	69.3	58.7	76.0	60.9	37.7
Income tax expense (benefit)	7.4	4.3	5.3	5.7	3.9	19.3	14.9	20.5	20.8	4.9
Income before income (loss) from affiliates and joint ventures	17.7	12.1	18.3	13.1	12.4	50.0	43.8	55.5	40.1	32.8
Income (loss) from affiliates and joint ventures	1.1	1.2	3.0	(0.1)	1.0	3.4	3.9	5.3	(11.1)	0
Income (loss) from continuing operations	18.8	13.3	21.3	13.0	13.4	53.4	47.7	60.8	29.0	32.8
Discontinued Operations
Income (loss) on discontinued operations	0	0	(1.3)	0.2	(0.1)	0	(1.2)	(1.2)	(0.9)	0.3
Net income (loss)	18.8	13.3	20.0	13.2	13.3	53.4	46.5	59.6	28.1	33.1
Net income (loss) attributable to noncontrolling interests	0	0.1	(0.1)	0	0	(0.2)	(0.1)	0	(0.8)	(0.1)
Net income attributable to AMCOL shareholders	18.8	13.2	20.1	13.2	13.3	53.6	46.6	59.6	28.9	33.2
Weighted average number of common shares outstanding (in shares)	32,071,202	32,000,000	31,799,536	31,700,000	31,500,000	32,024,603	31,671,781	31,700,000	31,200,000	30,800,000
Weighted average common and common equivalent shares (in shares)	32,452,878	32,300,000	32,193,458	32,200,000	32,000,000	32,340,239	32,127,558	32,100,000	31,500,000	31,000,000
Amounts attributable to AMCOL shareholders
Income from continuing operations, net of tax	18.8	13.2	21.4	13.0	13.4	53.6	47.8	60.8	29.8	32.9
Discontinued operations, net of tax	0	0	(1.3)	0.2	(0.1)	0	(1.2)	(1.2)	(0.9)	0.3
Net income	18.8	13.2	20.1	13.2	13.3	53.6	46.6	59.6	28.9	33.2
Basic earnings (loss) per share (in dollars per share)
Continuing operations (in dollars per share)	$ 0.59	$ 0.41	$ 0.67	$ 0.41	$ 0.42	$ 1.67	$ 1.51	$ 1.92	$ 0.96	$ 1.07
Discontinued operations (in dollars per share)	$ 0	$ 0	$ (0.04)	$ 0.01	$ 0	$ 0	$ (0.04)	$ (0.04)	$ (0.03)	$ 0.01
Net income	$ 0.59	$ 0.41	$ 0.63	$ 0.42	$ 0.42	$ 1.67	$ 1.47	$ 1.88	$ 0.93	$ 1.08
Diluted earnings (loss) per share (in dollars per share)
Continuing operations (in dollars per share	$ 0.58	$ 0.41	$ 0.66	$ 0.40	$ 0.42	$ 1.66	$ 1.49	$ 1.89	$ 0.95	$ 1.06
Discontinued operations (in dollars per share)	$ 0	$ 0	$ (0.04)	$ 0.01	$ 0	$ 0	$ (0.04)	$ (0.04)	$ (0.03)	$ 0.01
Net income (in dollars per share)	$ 0.58	$ 0.41	$ 0.62	$ 0.41	$ 0.42	$ 1.66	$ 1.45	$ 1.85	$ 0.92	$ 1.07
Previously reported [Member]
Continuing Operations
Net sales		235.8	248.1	242.8	217.8		708.7	942.4	841.0	691.9
Cost of sales		170.7	177.1	180.7	160.1		517.9	689.5	624.1	505.6
Gross profit		65.1	71.0	62.1	57.7		190.8	252.9	216.9	186.3
Selling, general and administrative expenses		43.6	43.9	40.3	39.1		123.3	165.2	146.9	133.4
Operating profit		21.5	27.1	21.8	18.6		67.5	87.7	70.0	52.9
Other income (expense):
Interest expense, net		(2.7)	(2.8)	(2.8)	(2.7)		(8.3)	(11.5)	(9.7)	(12.2)
Other, net		(2.1)	(0.1)	0.5	(0.4)		0	0.2	1.2	(0.9)
Total other income (expense), net		(4.8)	(2.9)	(2.3)	(3.1)		(8.3)	(11.3)	(8.5)	(13.1)
Income before income taxes and income (loss) from affiliates and joint ventures		16.7	24.2	19.5	15.5		59.2	76.4	61.5	39.8
Income tax expense (benefit)		4.8	6.7	5.9	4.3		16.9	21.8	19.4	5.3
Income before income (loss) from affiliates and joint ventures		11.9	17.5	13.6	11.2		42.3	54.6	42.1	34.5
Income (loss) from affiliates and joint ventures		1.2	3.0	(0.1)	1.1		4.0	5.5	(11.3)	0.1
Income (loss) from continuing operations		13.1	20.5	13.5	12.3		46.3	60.1	30.8	34.6
Discontinued Operations
Income (loss) on discontinued operations		(0.2)	(1.0)	0.2	(0.1)		(0.9)	(0.9)	(0.9)	0.3
Net income (loss)		12.9	19.5	13.7	12.2		45.4	59.2	29.9	34.9
Net income (loss) attributable to noncontrolling interests		0.1	0	0	0		0	0.1	(0.4)	0.1
Net income attributable to AMCOL shareholders		12.8	19.5	13.7	12.2		45.4	59.1	30.3	34.8
Weighted average number of common shares outstanding (in shares)		32,000,000	31,800,000	31,700,000	31,500,000		31,700,000	31,700,000	31,200,000	30,800,000
Weighted average common and common equivalent shares (in shares)		32,300,000	32,200,000	32,200,000	32,000,000		32,100,000	32,100,000	31,500,000	31,000,000
Amounts attributable to AMCOL shareholders
Income from continuing operations, net of tax		13.0	20.5	13.5	12.3		46.3	60.0	31.2	34.5
Discontinued operations, net of tax		(0.2)	(1.0)	0.2	(0.1)		(0.9)	(0.9)	(0.9)	0.3
Net income		12.8	19.5	13.7	12.2		45.4	59.1	30.3	34.8
Basic earnings (loss) per share (in dollars per share)
Continuing operations (in dollars per share)		$ 0.41	$ 0.64	$ 0.42	$ 0.39		$ 1.46	$ 1.89	$ 1.00	$ 1.12
Discontinued operations (in dollars per share)		$ (0.01)	$ (0.03)	$ 0.01	$ 0		$ (0.03)	$ (0.03)	$ (0.03)	$ 0.01
Net income		$ 0.40	$ 0.61	$ 0.43	$ 0.39		$ 1.43	$ 1.86	$ 0.97	$ 1.13
Diluted earnings (loss) per share (in dollars per share)
Continuing operations (in dollars per share		$ 0.41	$ 0.64	$ 0.42	$ 0.38		$ 1.44	$ 1.87	$ 0.99	$ 1.11
Discontinued operations (in dollars per share)		$ (0.01)	$ (0.03)	$ 0.01	$ 0		$ (0.03)	$ (0.03)	$ (0.03)	$ 0.01
Net income (in dollars per share)		$ 0.40	$ 0.61	$ 0.43	$ 0.38		$ 1.41	$ 1.84	$ 0.96	$ 1.12
Adjustments [Member]
Continuing Operations
Net sales		(0.2)	0	0.3	0.8		1.1	1.4	(14.8)	(3.7)
Cost of sales		0.3	0.4	0.4	0.1		0.9	1.4	(12.1)	(2.6)
Gross profit		(0.5)	(0.4)	(0.1)	0.7		0.2	0	(2.7)	(1.1)
Selling, general and administrative expenses		(0.3)	0.1	0.7			0.8	0.6	(1.9)	1.8
Operating profit		(0.2)	(0.5)	(0.8)	0.7		(0.6)	(0.6)	(0.8)	(2.9)
Other income (expense):
Interest expense, net				0.1	0.1		0.2	0.2	0.1	0.2
Other, net		(0.1)	(0.1)				(0.1)	0	0.1	0.6
Total other income (expense), net		(0.1)	(0.1)	0.1	0.1		0.1	0.2	0.2	0.8
Income before income taxes and income (loss) from affiliates and joint ventures		(0.3)	(0.6)	(0.7)	0.8		(0.5)	(0.4)	(0.6)	(2.1)
Income tax expense (benefit)		(0.5)	(1.4)	(0.2)	(0.4)		(2.0)	(1.3)	1.4	(0.4)
Income before income (loss) from affiliates and joint ventures		0.2	0.8	(0.5)	1.2		1.5	0.9	(2.0)	(1.7)
Income (loss) from affiliates and joint ventures					(0.1)		(0.1)	(0.2)	0.2	(0.1)
Income (loss) from continuing operations		0.2	0.8	(0.5)	1.1		1.4	0.7	(1.8)	(1.8)
Discontinued Operations
Income (loss) on discontinued operations		0.2	(0.3)				(0.3)	(0.3)	0	0
Net income (loss)		0.4	0.5	(0.5)	1.1		1.1	0.4	(1.8)	(1.8)
Net income (loss) attributable to noncontrolling interests			(0.1)				(0.1)	(0.1)	(0.4)	(0.2)
Net income attributable to AMCOL shareholders		0.4	0.6	(0.5)	1.1		1.2	0.5	(1.4)	(1.6)
Weighted average number of common shares outstanding (in shares)		32,000,000	31,800,000	31,700,000	31,500,000		31,700,000	31,700,000	31,200,000	30,800,000
Weighted average common and common equivalent shares (in shares)		32,300,000	32,200,000	32,200,000	32,000,000		32,100,000	32,100,000	31,500,000	31,000,000
Amounts attributable to AMCOL shareholders
Income from continuing operations, net of tax		0.2	0.9	(0.5)	1.1		1.5	0.8	(1.4)	(1.6)
Discontinued operations, net of tax		0.2	(0.3)	0	0		(0.3)	(0.3)	0	0
Net income		0.4	0.6	(0.5)	1.1		1.2	0.5	(1.4)	(1.6)
Basic earnings (loss) per share (in dollars per share)
Continuing operations (in dollars per share)		$ 0	$ 0.03	$ (0.01)	$ 0.03		$ 0.05	$ 0.03	$ (0.04)	$ (0.05)
Discontinued operations (in dollars per share)		$ 0.01	$ (0.01)	$ 0	$ 0		$ (0.01)	$ (0.01)	$ 0	$ 0
Net income		$ 0.01	$ 0.02	$ (0.01)	$ 0.03		$ 0.04	$ 0.02	$ (0.04)	$ (0.05)
Diluted earnings (loss) per share (in dollars per share)
Continuing operations (in dollars per share		$ 0	$ 0.02	$ (0.02)	$ 0.04		$ 0.05	$ 0.02	$ (0.04)	$ (0.05)
Discontinued operations (in dollars per share)		$ 0.01	$ (0.01)	$ 0	$ 0		$ (0.01)	$ (0.01)	$ 0	$ 0
Net income (in dollars per share)		$ 0.01	$ 0.01	$ (0.02)	$ 0.04		$ 0.04	$ 0.01	$ (0.04)	$ (0.05)
Tax [Member] | Adjustments [Member]
Continuing Operations
Net sales		0	0	0	0		0	0	0	0
Cost of sales							0	0
Gross profit		0	0	0	0		0	0	0	0
Selling, general and administrative expenses							0	0
Operating profit		0	0	0	0		0	0	0	0
Other income (expense):
Interest expense, net							0	0
Other, net							0	0
Total other income (expense), net		0	0	0	0		0	0	0	0
Income before income taxes and income (loss) from affiliates and joint ventures		0	0	0	0		0	0	0	0
Income tax expense (benefit)		(0.3)	(1.4)		(0.5)		(1.9)	(1.8)	1.2	(0.1)
Income before income (loss) from affiliates and joint ventures		0.3	1.4	0	0.5		1.9	1.8	(1.2)	0.1
Income (loss) from affiliates and joint ventures					(0.1)		(0.1)	(0.3)
Income (loss) from continuing operations		0.3	1.4	0	0.4		1.8	1.5	(1.2)	0.1
Discontinued Operations
Income (loss) on discontinued operations							0
Net income (loss)		0.3	1.4	0	0.4		1.8	1.5	(1.2)	0.1
Net income (loss) attributable to noncontrolling interests							0	0
Net income attributable to AMCOL shareholders		0.3	1.4	0	0.4		1.8	1.5	(1.2)	0.1
Other [Member] | Adjustments [Member]
Continuing Operations
Net sales		(0.2)	0	0.3	0.2		0.5	0.8	(14.2)	(3.7)
Cost of sales		(0.2)	0	0	(0.3)		(0.3)	(0.1)	(12.7)	(3.8)
Gross profit		0	0	0.3	0.5		0.8	0.9	(1.5)	0.1
Selling, general and administrative expenses		(0.1)	0.1	0	0		0.1	0	(1.5)	1.5
Operating profit		0.1	(0.1)	0.3	0.5		0.7	0.9	0	(1.4)
Other income (expense):
Interest expense, net		0	0	0.1	0.1		0.2	0.2	0.1	0.2
Other, net		(0.1)	(0.1)	0	0		(0.1)	0	0.1	0.6
Total other income (expense), net		(0.1)	(0.1)	0.1	0.1		0.1	0.2	0.2	0.8
Income before income taxes and income (loss) from affiliates and joint ventures		0	(0.2)	0.4	0.6		0.8	1.1	0.2	(0.6)
Income tax expense (benefit)		(0.2)	(0.1)	(0.1)	(0.1)		(0.3)	0.5	0.2	0
Income before income (loss) from affiliates and joint ventures		0.2	(0.1)	0.5	0.7		1.1	0.6	0	(0.6)
Income (loss) from affiliates and joint ventures		0	0	0	0		0	0.1	0.2	(0.1)
Income (loss) from continuing operations		0.2	(0.1)	0.5	0.7		1.1	0.7	0.2	(0.7)
Discontinued Operations
Income (loss) on discontinued operations		0.2	(0.3)	0	0		(0.3)	(0.3)	0	0
Net income (loss)		0.4	(0.4)	0.5	0.7		0.8	0.4	0.2	(0.7)
Net income (loss) attributable to noncontrolling interests		0	0	0	0		0	0	(0.4)	0
Net income attributable to AMCOL shareholders		0.4	(0.4)	0.5	0.7		0.8	0.4	0.6	(0.7)
Spain [Member] | Adjustments [Member]
Continuing Operations
Net sales		0	0	0	0		0	0	0	0
Cost of sales		0.4	0.3	0.3	0.3		0.9	1.2	0.6	0.7
Gross profit		(0.4)	(0.3)	(0.3)	(0.3)		(0.9)	(1.2)	(0.6)	(0.7)
Selling, general and administrative expenses		(0.2)					0	0.1		0.3
Operating profit		(0.2)	(0.3)	(0.3)	(0.3)		(0.9)	(1.3)	(0.6)	(1.0)
Other income (expense):
Interest expense, net							0	0
Other, net							0	0
Total other income (expense), net		0	0	0	0		0	0	0	0
Income before income taxes and income (loss) from affiliates and joint ventures		(0.2)	(0.3)	(0.3)	(0.3)		(0.9)	(1.3)	(0.6)	(1.0)
Income tax expense (benefit)		0.1					0	(0.2)		(0.2)
Income before income (loss) from affiliates and joint ventures		(0.3)	(0.3)	(0.3)	(0.3)		(0.9)	(1.1)	(0.6)	(0.8)
Income (loss) from affiliates and joint ventures							0
Income (loss) from continuing operations		(0.3)	(0.3)	(0.3)	(0.3)		(0.9)	(1.1)	(0.6)	(0.8)
Discontinued Operations
Income (loss) on discontinued operations							0
Net income (loss)		(0.3)	(0.3)	(0.3)	(0.3)		(0.9)	(1.1)	(0.6)	(0.8)
Net income (loss) attributable to noncontrolling interests							0	0
Net income attributable to AMCOL shareholders		(0.3)	(0.3)	(0.3)	(0.3)		(0.9)	(1.1)	(0.6)	(0.8)
South Africa [Member] | Adjustments [Member]
Continuing Operations
Net sales		0	0	0	0		0	0	0	0
Cost of sales		0.1	0.1	0.1	0.1		0.3	0.3		0.5
Gross profit		(0.1)	(0.1)	(0.1)	(0.1)		(0.3)	(0.3)	0	(0.5)
Selling, general and administrative expenses							0	0	(0.1)	0.1
Operating profit		(0.1)	(0.1)	(0.1)	(0.1)		(0.3)	(0.3)	0.1	(0.6)
Other income (expense):
Interest expense, net							0	0
Other, net							0	0
Total other income (expense), net		0	0	0	0		0	0	0	0
Income before income taxes and income (loss) from affiliates and joint ventures		(0.1)	(0.1)	(0.1)	(0.1)		(0.3)	(0.3)	0.1	(0.6)
Income tax expense (benefit)		(0.1)	0.1	0.1	0.1		0.3	0.3	0.1	(0.1)
Income before income (loss) from affiliates and joint ventures		0	(0.2)	(0.2)	(0.2)		(0.6)	(0.6)	0	(0.5)
Income (loss) from affiliates and joint ventures							0
Income (loss) from continuing operations		0	(0.2)	(0.2)	(0.2)		(0.6)	(0.6)	0	(0.5)
Discontinued Operations
Income (loss) on discontinued operations							0
Net income (loss)		0	(0.2)	(0.2)	(0.2)		(0.6)	(0.6)	0	(0.5)
Net income (loss) attributable to noncontrolling interests			(0.1)				(0.1)	(0.1)		(0.2)
Net income attributable to AMCOL shareholders		0	(0.1)	(0.2)	(0.2)		(0.5)	(0.5)	0	(0.3)
Dong Ming [Member] | Adjustments [Member]
Continuing Operations
Net sales			0	0	0		0	0	0	0
Cost of sales							0	0
Gross profit			0	0	0		0	0	0	0
Selling, general and administrative expenses				0.7			0.7	0.7	(0.3)	(0.1)
Operating profit			0	(0.7)	0		(0.7)	(0.7)	0.3	0.1
Other income (expense):
Interest expense, net							0	0
Other, net							0	0
Total other income (expense), net			0	0	0		0	0	0	0
Income before income taxes and income (loss) from affiliates and joint ventures			0	(0.7)	0		(0.7)	(0.7)	0.3	0.1
Income tax expense (benefit)				(0.2)			(0.2)	(0.2)	0.1	0
Income before income (loss) from affiliates and joint ventures			0	(0.5)	0		(0.5)	(0.5)	0.2	0.1
Income (loss) from affiliates and joint ventures							0	0
Income (loss) from continuing operations			0	(0.5)	0		(0.5)	(0.5)	0.2	0.1
Discontinued Operations
Income (loss) on discontinued operations							0
Net income (loss)			0	(0.5)	0		(0.5)	(0.5)	0.2	0.1
Net income (loss) attributable to noncontrolling interests							0	0
Net income attributable to AMCOL shareholders			0	(0.5)	0		(0.5)	(0.5)	0.2	0.1
Malaysia [Member] | Adjustments [Member]
Continuing Operations
Net sales		0	0	0	0.6		0.6	0.6	(0.6)
Cost of sales							0	0
Gross profit		0	0	0	0.6		0.6	0.6	(0.6)
Selling, general and administrative expenses							0	(0.2)
Operating profit		0	0	0	0.6		0.6	0.8	(0.6)
Other income (expense):
Interest expense, net							0	0
Other, net							0	0
Total other income (expense), net		0	0	0	0		0	0	0
Income before income taxes and income (loss) from affiliates and joint ventures		0	0	0	0.6		0.6	0.8	(0.6)
Income tax expense (benefit)					0.1		0.1	0.1	(0.2)
Income before income (loss) from affiliates and joint ventures		0	0	0	0.5		0.5	0.7	(0.4)
Income (loss) from affiliates and joint ventures							0
Income (loss) from continuing operations		0	0	0	0.5		0.5	0.7	(0.4)
Discontinued Operations
Income (loss) on discontinued operations							0
Net income (loss)		0	0	0	0.5		0.5	0.7	(0.4)
Net income (loss) attributable to noncontrolling interests							0	0
Net income attributable to AMCOL shareholders		$ 0	$ 0	$ 0	$ 0.5		$ 0.5	$ 0.7	$ (0.4)

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CORRECTION OF ERRORS IN PREVIOUSLY REPORTED FINANCIAL STATEMENTS

9 Months Ended

Sep. 30, 2012

Correction of Errors in Previously Reported Financial Statements [Abstract]

CORRECTION OF ERRORS IN PREVIOUSLY REPORTED FINANCIAL STATEMENTS

Note 2: CORRECTION OF ERRORS IN PREVIOUSLY REPORTED FINANCIAL STATEMENTS

In August 2012, management in our environmental segment conducted a physical count of inventory at its operations in Spain.  Upon an evaluation of the results of that physical inventory, we determined that our inventory values as recorded were misstated and that these misstatements affected prior periods.

Our previously issued financial statements dating back to 2008 and prior years contain other errors which were not previously corrected as they were immaterial to our previously issued consolidated financial statements.  We assessed the materiality of all the errors in accordance with SEC Staff Accounting Bulletin ("SAB") No. 99, Materiality and in accordance with the rollover and iron curtain methods as described in SAB No. 108, Considering the Effects of Prior Year Misstatements in Current Year Financial Statements.

We concluded that these errors were individually and collectively immaterial to our previously issued financial statements.  However, under SAB 108, we concluded that there is a reasonable possibility that our financial statements for the twelve months ended December 31, 2012 will be materially misstated if we correct the prior year errors in the current year.  As a result, we decided to correct our prior year financial statements even though the errors are immaterial to the financial statements issued in those years.  Under SAB 108, correcting prior year financial statements for immaterial errors does not require our previously filed reports to be amended; rather, SAB 108 allows these corrections to be made when we file our prior period consolidated financial statements in our 2012 Form 10-K.

For all periods including and between the twelve months ended December 31, 2008 and the three months ended March 31, 2012, these errors, when combined with the errors in our Spanish operations, decreased net income available to AMCOL shareholders by $2.7.  Although there were several errors across various categories, we have summarized the errors into general categories and quantified the amount by which they increased (decreased) net income available to AMCOL shareholders as noted below:

· Spain - $2.8 decrease for errors associated with accounting for inventory and other items in our environmental segment's Spanish operations;

· South Africa - $0.8 decrease for errors related to the accounting for the acquisition of mineral rights in our minerals and materials segment's chromite operations in South Africa;

· Malaysia - $0.3 increase resulting from correcting errors in our oilfield services segment's Malaysian operations, largely relating to improper recognition of expenses and errors in accounting for revenues;

· DongMing – adjustments to correct errors made in accounting for accounts payable in this China subsidiary;

· Tax - $0.2 increase resulting largely from inaccuracies in the accounting for income tax expense in our international operations; and

· $0.4 increase for other insignificant errors we have aggregated together.

Adjustments by category and increase (decrease) to Net income available to AMCOL sharesholders	Prior to			Twelve Months Ended December 31,									Three Months Ended March 31,
attributable to each category	2009			2009			2010			2011			2012			Total
Spain	$	-		$	(0.8	)	$	(0.6	)	$	(1.1	)	$	(0.3	)	$	(2.8	)
South Africa		-			(0.3	)		-			(0.5	)		-			(0.8	)
Malaysia		-			-			(0.4	)		0.7			-			0.3
DongMing		0.2			0.1			0.2			(0.5	)		-			-
Tax		(0.5	)		0.1			(1.2	)		1.5			0.3			0.2
Other		(0.3	)		(0.7	)		0.6			0.4			0.4			0.4
Total	$	(0.6	)	$	(1.6	)	$	(1.4	)	$	0.5		$	0.4		$	(2.7	)

Corrections to annual periods ended December 31, 2009, December 31, 2010 and 2011 and as of December 31, 2010 and 2011

The effect of correcting these errors on our condensed consolidated statements of operations for our years ended December 31, 2009, 2010 and 2011 is as follows:

	Year Ended December 31, 2009
	Previously Reported			Adjustments																		As Adjusted
				Spain			South Africa			DongMing			Tax			Other			Total
Continuing Operations
Net sales	$	691.9		$	-		$	-		$	-		$	-		$	(3.7	)	$	(3.7	)	$	688.2
Cost of sales		505.6			0.7			0.5									(3.8	)		(2.6	)		503.0
Gross profit		186.3			(0.7	)		(0.5	)		-			-			0.1			(1.1	)		185.2
Selling, general and administrative expenses		133.4			0.3			0.1			(0.1	)					1.5			1.8			135.2
Operating profit		52.9			(1.0	)		(0.6	)		0.1			-			(1.4	)		(2.9	)		50.0
Other income (expense):
Interest expense, net		(12.2	)														0.2			0.2			(12.0	)
Other, net		(0.9	)														0.6			0.6			(0.3	)
		(13.1	)		-			-			-			-			0.8			0.8			(12.3	)
Income before income taxes and income (loss) from affiliates and joint ventures		39.8			(1.0	)		(0.6	)		0.1			-			(0.6	)		(2.1	)		37.7
Income tax expense (benefit)		5.3			(0.2	)		(0.1	)		-			(0.1	)		-			(0.4	)		4.9
Income before income (loss) from affiliates and joint ventures		34.5			(0.8	)		(0.5	)		0.1			0.1			(0.6	)		(1.7	)		32.8
Income (loss) from affiliates and joint ventures		0.1															(0.1	)		(0.1	)		-
Income (loss) from continuing operations		34.6			(0.8	)		(0.5	)		0.1			0.1			(0.7	)		(1.8	)		32.8
Discontinued Operations
Income (loss) on discontinued operations		0.3															-			-			0.3
Net income (loss)		34.9			(0.8	)		(0.5	)		0.1			0.1			(0.7	)		(1.8	)		33.1
Net income (loss) attributable to noncontrolling interests		0.1						(0.2	)								-			(0.2	)		(0.1	)
Net income (loss) attributable to AMCOL shareholders	$	34.8		$	(0.8	)	$	(0.3	)	$	0.1		$	0.1		$	(0.7	)	$	(1.6	)	$	33.2
Weighted average common shares outstanding		30.8																		30.8			30.8
Weighted average common and common equivalent shares outstanding		31.0																		31.0			31.0
Amounts attributable to AMCOL shareholders
Income from continuing operations, net of tax	$	34.5																	$	(1.6	)	$	32.9
Discontinued operations, net of tax		0.3																		-			0.3
Net income	$	34.8																	$	(1.6	)	$	33.2
Earnings per share attributable to AMCOL shareholders:
Basic earnings (loss) per share:
Continuing operations	$	1.12																	$	(0.05	)	$	1.07
Discontinued operations		0.01																		-			0.01
Net income	$	1.13																	$	(0.05	)	$	1.08
Diluted earnings (loss) per share:
Continuing operations	$	1.11																	$	(0.05	)	$	1.06
Discontinued operations		0.01																		-			0.01
Net income	$	1.12																	$	(0.05	)	$	1.07

	Year Ended December 31, 2010
	Previously Reported			Adjustments																					As Adjusted
				Spain			South Africa			Malaysia			DongMing			Tax			Other			Total
Continuing Operations
Net sales	$	841.0		$	-		$	-		$	(0.6	)	$	-		$	-		$	(14.2	)	$	(14.8	)	$	826.2
Cost of sales		624.1			0.6															(12.7	)		(12.1	)		612.0
Gross profit		216.9			(0.6	)		-			(0.6	)		-			-			(1.5	)		(2.7	)		214.2
Selling, general and administrative expenses		146.9						(0.1	)					(0.3	)					(1.5	)		(1.9	)		145.0
Operating profit		70.0			(0.6	)		0.1			(0.6	)		0.3			-			(0.0	)		(0.8	)		69.2
Other income (expense):
Interest expense, net		(9.7	)																	0.1			0.1			(9.6	)
Other, net		1.2																		0.1			0.1			1.3
		(8.5	)		-			-			-			-			-			0.2			0.2			(8.3	)
Income before income taxes and income (loss) from affiliates and joint ventures		61.5			(0.6	)		0.1			(0.6	)		0.3			-			0.2			(0.6	)		60.9
Income tax expense (benefit)		19.4						0.1			(0.2	)		0.1			1.2			0.2			1.4			20.8
Income before income (loss) from affiliates and joint ventures		42.1			(0.6	)		-			(0.4	)		0.2			(1.2	)		(0.0	)		(2.0	)		40.1
Income (loss) from affiliates and joint ventures		(11.3	)																	0.2			0.2			(11.1	)
Income (loss) from continuing operations		30.8			(0.6	)		-			(0.4	)		0.2			(1.2	)		0.2			(1.8	)		29.0
Discontinued Operations
Income (loss) on discontinued operations		(0.9	)																	-			-			(0.9	)
Net income (loss)		29.9			(0.6	)		-			(0.4	)		0.2			(1.2	)		0.2			(1.8	)		28.1
Net income (loss) attributable to noncontrolling interests		(0.4	)																	(0.4	)		(0.4	)		(0.8	)
Net income (loss) attributable to AMCOL shareholders	$	30.3		$	(0.6	)	$	-		$	(0.4	)	$	0.2		$	(1.2	)	$	0.6		$	(1.4	)	$	28.9
Weighted average common shares outstanding		31.2																					31.2			31.2
Weighted average common and common equivalent shares outstanding		31.5																					31.5			31.5
Amounts attributable to AMCOL shareholders
Income from continuing operations, net of tax	$	31.2																				$	(1.4	)	$	29.8
Discontinued operations, net of tax		(0.9	)																				-			(0.9	)
Net income	$	30.3																				$	(1.4	)	$	28.9
Earnings per share attributable to AMCOL shareholders:
Basic earnings (loss) per share:
Continuing operations	$	1.00																				$	(0.04	)	$	0.96
Discontinued operations		(0.03	)																				-			(0.03	)
Net income	$	0.97																				$	(0.04	)	$	0.93
Diluted earnings (loss) per share:
Continuing operations	$	0.99																				$	(0.04	)	$	0.95
Discontinued operations		(0.03	)																				-			(0.03	)
Net income	$	0.96																				$	(0.04	)	$	0.92

	Year Ended December 31, 2011
	Previously Reported			Adjustments																					As Adjusted
				Spain			South Africa			Malaysia			DongMing			Tax			Other			Total
Continuing Operations
Net sales	$	942.4		$	-		$	-		$	0.6		$	-		$	-		$	0.8		$	1.4		$	943.8
Cost of sales		689.5			1.2			0.3			-			-			-			(0.1	)		1.4			690.9
Gross profit		252.9			(1.2	)		(0.3	)		0.6			-			-			0.9			-			252.9
Selling, general and administrative expenses		165.2			0.1			-			(0.2	)		0.7			-			-			0.6			165.8
Operating profit		87.7			(1.3	)		(0.3	)		0.8			(0.7	)		-			0.9			(0.6	)		87.1
Other income (expense):
Interest expense, net		(11.5	)		-			-			-			-			-			0.2			0.2			(11.3	)
Other, net		0.2			-			-			-			-			-			-			-			0.2
		(11.3	)		-			-			-			-			-			0.2			0.2			(11.1	)
Income before income taxes and income (loss) from affiliates and joint ventures		76.4			(1.3	)		(0.3	)		0.8			(0.7	)		-			1.1			(0.4	)		76.0
Income tax expense (benefit)		21.8			(0.2	)		0.3			0.1			(0.2	)		(1.8	)		0.5			(1.3	)		20.5
Income before income (loss) from affiliates and joint ventures		54.6			(1.1	)		(0.6	)		0.7			(0.5	)		1.8			0.6			0.9			55.5
Income (loss) from affiliates and joint ventures		5.5												-			(0.3	)		0.1			(0.2	)		5.3
Income (loss) from continuing operations		60.1			(1.1	)		(0.6	)		0.7			(0.5	)		1.5			0.7			0.7			60.8
Discontinued Operations
Income (loss) on discontinued operations		(0.9	)																	(0.3	)		(0.3	)		(1.2	)
Net income (loss)		59.2			(1.1	)		(0.6	)		0.7			(0.5	)		1.5			0.4			0.4			59.6
Net income (loss) attributable to noncontrolling interests		0.1			-			(0.1	)		-			-			-			-			(0.1	)		-
Net income (loss) attributable to AMCOL shareholders	$	59.1		$	(1.1	)	$	(0.5	)	$	0.7		$	(0.5	)	$	1.5		$	0.4		$	0.5		$	59.6
Weighted average common shares outstanding		31.7																					31.7			31.7
Weighted average common and common equivalent shares outstanding		32.1																					32.1			32.1
Amounts attributable to AMCOL shareholders
Income from continuing operations, net of tax	$	60.0																				$	0.8		$	60.8
Discontinued operations, net of tax		(0.9	)																				(0.3	)		(1.2	)
Net income	$	59.1																				$	0.5		$	59.6
Earnings per share attributable to AMCOL shareholders:
Basic earnings (loss) per share:
Continuing operations	$	1.89																				$	0.03		$	1.92
Discontinued operations		(0.03	)																				(0.01	)		(0.04	)
Net income	$	1.86																				$	0.02		$	1.88
Diluted earnings (loss) per share:
Continuing operations	$	1.87																				$	0.02		$	1.89
Discontinued operations		(0.03	)																				(0.01	)		(0.04	)
Net income	$	1.84																				$	0.01		$	1.85

The effect of correcting these errors in our condensed consolidated balance sheets as of December 31, 2010 and 2011 is as follows:

	December 31, 2010
ASSETS	Previously Reported		Adjustments																		As Adjusted
			Spain			South Africa		Malaysia			DongMing		Tax		Other			Total
Current assets:
Cash and cash equivalents	$	27.3	$	-		$	-	$	-		$	-	$	-	$	(0.5	)	$	(0.5	)	$	26.8
Accounts receivable, net		194.0		(0.4	)				(1.1	)						(2.4	)		(3.9	)		190.1
Inventories		107.5		(1.0	)											(0.9	)		(1.9	)		105.6
Prepaid expenses		12.6														0.4			0.4			13.0
Deferred income taxes		5.5														-						5.5
Income tax receivable		8.5														-						8.5
Other		6.2														-						6.2
Total current assets		361.6		(1.4	)		-		(1.1	)		-		-		(3.4	)		(5.9	)		355.7
Noncurrent assets:
Property, plant, equipment, and mineral rights and reserves:
Land		11.6														(0.7	)		(0.7	)		10.9
Mineral rights		51.4					13.6									-			13.6			65.0
Depreciable assets		454.4														(2.1	)		(2.1	)		452.3
		517.4		-			13.6		-			-		-		(2.8	)		10.8			528.2
Less: accumulated depreciation and depletion		256.9														(0.2	)		(0.2	)		256.7
		260.5		-			13.6		-			-		-		(2.6	)		11.0			271.5
Goodwill		70.9																				70.9
Intangible assets, net		42.6														(0.7	)		(0.7	)		41.9
Investment in and advances to affiliates and joint ventures		19.0														1.9			1.9			20.9
Available-for-sale securities		14.2														-						14.2
Deferred income taxes		7.6					1.6									-			1.6			9.2
Other assets		22.7							0.5							0.3			0.8			23.5
																-
Total noncurrent assets		437.5		-			15.2		0.5			-		-		(1.1	)		14.6			452.1
Total Assets	$	799.1	$	(1.4	)	$	15.2	$	(0.6	)	$	-	$	-	$	(4.5	)	$	8.7		$	807.8

	December 31, 2010
LIABILITIES AND SHAREHOLDERS' EQUITY	Previously Reported			Adjustments																					As Adjusted
				Spain			South Africa			Malaysia			DongMing			Tax			Other			Total
Current liabilities:
Accounts payable	$	53.2		$	-		$	-		$	-		$	(0.7	)				$	(1.1	)	$	(1.8	)	$	51.4
Accrued income taxes		4.1			(0.1	)					(0.2	)		0.2			1.2			(0.1	)		1.0			5.1
Accrued liabilities		55.2			0.1															(0.1	)					55.2
Total current liabilities		112.5			-			-			(0.2	)		(0.5	)		1.2			(1.3	)		(0.8	)		111.7
Noncurrent liabilities:
Long-term debt		236.2																		(0.5	)		(0.5	)		235.7
Pension liabilities		21.3																		-						21.3
Deferred compensation		8.7																		0.3			0.3			9.0
Deferred income tax		0.4						15.8									0.4			-			16.2			16.6
Other long-term liabilities		19.6																		(1.2	)		(1.2	)		18.4
Total noncurrent liabilities		286.2			-			15.8			-			-			0.4			(1.4	)		14.8			301.0
Shareholders' Equity:
Common stock		0.3																		-						0.3
Additional paid in capital		95.1																		-						95.1
Retained earnings		283.2			(1.4	)		(0.3	)		(0.4	)		0.5			(1.6	)		(0.4	)		(3.6	)		279.6
Accumulated other comprehensive income (loss)		28.9						(0.1	)											(0.1	)		(0.2	)		28.7
Less: Treasury stock		(8.9	)																	-						(8.9	)
Total AMCOL shareholders' equity		398.6			(1.4	)		(0.4	)		(0.4	)		0.5			(1.6	)		(0.5	)		(3.8	)		394.8
Noncontrolling interest		1.8						(0.2	)											(1.3	)		(1.5	)		0.3
Total equity		400.4			(1.4	)		(0.6	)		(0.4	)		0.5			(1.6	)		(1.8	)		(5.3	)		395.1
Total Liabilities and Shareholders' Equity	$	799.1		$	(1.4	)	$	15.2		$	(0.6	)	$	-		$	-		$	(4.5	)	$	8.7		$	807.8

	December 31, 2011
ASSETS	Previously Reported		Adjustments																		As Adjusted
			Spain			South Africa		Malaysia			DongMing		Tax		Other			Total
Current assets:
Cash and cash equivalents	$	23.7	$	-		$	-	$	-		$	-	$	-	$	-					$	23.7
Accounts receivable, net		206.8		(1.6	)				(0.7	)						0.3			(2.0	)		204.8
Inventories		146.6		(1.8	)		0.2									(0.2	)		(1.8	)		144.8
Prepaid expenses		15.7														-						15.7
Deferred income taxes		5.9														-						5.9
Income tax receivable		6.9														-						6.9
Other		6.7														(0.6	)		(0.6	)		6.1
Total current assets		412.3		(3.4	)		0.2		(0.7	)		-		-		(0.5	)		(4.4	)		407.9
Noncurrent assets:
Property, plant, equipment, and mineral rights and reserves:
Land		13.9																				13.9
Mineral rights		41.9					10.6									-			10.6			52.5
Depreciable assets		482.3														0.3			0.3			482.6
		538.1		-			10.6		-			-		-		0.3			10.9			549.0
Less: accumulated depreciation and depletion		275.5														-						275.5
		262.6		-			10.6		-			-		-		0.3			10.9			273.5
Goodwill		69.5																				69.5
Intangible assets, net		36.6														-						36.6
Investment in and advances to affiliates and joint ventures		26.4														-						26.4
Available-for-sale securities		3.8														-						3.8
Deferred income taxes		7.8					0.7									-			0.7			8.5
Other assets		23.7							0.7							-			0.7			24.4
																-
Total noncurrent assets		430.4		-			11.3		0.7			-		-		0.3			12.3			442.7
Total Assets	$	842.7	$	(3.4	)	$	11.5	$	-		$	-	$	-	$	(0.2	)	$	7.9		$	850.6

	December 31, 2011
LIABILITIES AND SHAREHOLDERS' EQUITY	Previously Reported			Adjustments																				As Adjusted
				Spain			South Africa			Malaysia			DongMing		Tax			Other			Total
Current liabilities:
Accounts payable	$	56.4		$	-		$	-		$	-		$	-	$	-		$	0.1		$	0.1		$	56.5
Accrued income taxes		2.7			(0.3	)		0.1								0.1			(0.2	)		(0.3	)		2.4
Accrued liabilities		59.0			(0.8	)					(0.3	)							-			(1.1	)		57.9
Total current liabilities		118.1			(1.1	)		0.1			(0.3	)		-		0.1			(0.1	)		(1.3	)		116.8
Noncurrent liabilities:
Long-term debt		260.7																	-						260.7
Pension liabilities		34.8																	-						34.8
Deferred compensation		8.9																	-						8.9
Deferred income tax		0.8						12.6											0.1			12.7			13.5
Other long-term liabilities		19.2																	-						19.2
Total noncurrent liabilities		324.4			-			12.6			-			-		-			0.1			12.7			337.1
Shareholders' Equity:
Common stock		0.3																	-						0.3
Additional paid in capital		94.5						(0.2	)										-			(0.2	)		94.3
Retained earnings		319.5			(2.5	)		(0.9	)		0.3			-		(0.1	)		0.1			(3.1	)		316.4
Accumulated other comprehensive income (loss)		(14.9	)		0.2														(0.3	)		(0.1	)		(15.0	)
Less: Treasury stock		(3.4	)																-						(3.4	)
Total AMCOL shareholders' equity		396.0			(2.3	)		(1.1	)		0.3			-		(0.1	)		(0.2	)		(3.4	)		392.6
Noncontrolling interest		4.2						(0.1	)										-			(0.1	)		4.1
Total equity		400.2			(2.3	)		(1.2	)		0.3			-		(0.1	)		(0.2	)		(3.5	)		396.7
Total Liabilities and Shareholders' Equity	$	842.7		$	(3.4	)	$	11.5		$	-		$	-	$	-		$	(0.2	)	$	7.9		$	850.6

The correction of these errors had no effect on the previously reported amounts of operating, investing, and financing cash flows in our condensed consolidated statement of cash flows for the year ended December 31, 2009.  The effect of correcting these errors in our condensed consolidated statements of cash flows for the years ended December 31, 2010 and 2011 is as follows:

	Year Ended December 31, 2010
	Previously Reported			Adjustments			As Adjusted
Net cash provided by (used in) operating activities	$	48.1		$	0.1		$	48.2
Net cash (used in) investing activities		(48.1	)		(0.6	)		(48.7	)
Net cash provided by (used in) financing activities		(0.8	)		-			(0.8	)
Effect of foreign currency rate changes on cash		0.4			-			0.4
Net increase (decrease) in cash and cash equivalents		(0.4	)		(0.5	)		(0.9	)
Cash and cash equivalents at beginning of period		27.7			-			27.7
Cash and cash equivalents at end of period	$	27.3		$	(0.5	)	$	26.8

	Year Ended December 31, 2011
	Previously reported			Adjustments			As Adjusted
Net cash provided by (used in) operating activities	$	38.6		$	0.2		$	38.8
Net cash (used in) investing activities		(54.7	)		0.5			(54.2	)
Net cash provided by (used in) financing activities		11.6			(0.2	)		11.4
Effect of foreign currency rate changes on cash		0.9			-			0.9
Net increase (decrease) in cash and cash equivalents		(3.6	)		0.5			(3.1	)
Cash and cash equivalents at beginning of period		27.3			(0.5	)		26.8
Cash and cash equivalents at end of period	$	23.7		$	-		$	23.7

With regards to our consolidated statement of comprehensive income for the year ended December 31, 2009, correcting these errors reduced total comprehensive income by $2.0, reflecting the $1.8 decrease to net income as previously discussed in addition to $0.2 of losses resulting from foreign currency translation.

With regards to our consolidated statement of comprehensive income for the year ended December 31, 2010, correcting these errors reduced total comprehensive income by $1.8 resulting from the $1.8 decrease to net income as previously discussed.

With regards to our consolidated statement of comprehensive income for the year ended December 31, 2011, correcting these errors increased total comprehensive income by $0.5, reflecting the $0.4 increase to net income as previously discussed in addition to $0.1 of income resulting from foreign currency translation.

With regards to our consolidated statements of equity, our retained earnings at January 1, 2009 decreased by $0.6 resulting from the decrease to net income attributable to AMCOL shareholders for the years prior to 2009.

Corrections to interim periods within 2011

The effect of correcting these errors in our condensed consolidated statements of operations for each of the three months ended March 31, June 30 and September 30, 2011 is as follows:

	Quarter Ended March 31, 2011
	Previously Reported			Adjustments																			As Adjusted
				Spain			South Africa			Malaysia		DongMing		Tax			Other			Total
Continuing Operations
Net sales	$	217.8		$	-		$	-		$	0.6	$	-	$	-		$	0.2		$	0.8		$	218.6
Cost of sales		160.1			0.3			0.1										(0.3	)		0.1			160.2
Gross profit		57.7			(0.3	)		(0.1	)		0.6		-		-			0.5			0.7			58.4
Selling, general and administrative expenses		39.1																-						39.1
Operating profit		18.6			(0.3	)		(0.1	)		0.6		-		-			0.5			0.7			19.3
Other income (expense):
Interest expense, net		(2.7	)															0.1			0.1			(2.6	)
Other, net		(0.4	)															-						(0.4	)
		(3.1	)		-			-			-		-		-			0.1			0.1			(3.0	)
Income before income taxes and income (loss) from affiliates and joint ventures		15.5			(0.3	)		(0.1	)		0.6		-		-			0.6			0.8			16.3
Income tax expense (benefit)		4.3						0.1			0.1				(0.5	)		(0.1	)		(0.4	)		3.9
Income before income (loss) from affiliates and joint ventures		11.2			(0.3	)		(0.2	)		0.5		-		0.5			0.7			1.2			12.4
Income (loss) from affiliates and joint ventures		1.1													(0.1	)		-			(0.1	)		1.0
Income (loss) from continuing operations		12.3			(0.3	)		(0.2	)		0.5		-		0.4			0.7			1.1			13.4
Discontinued Operations
Income (loss) on discontinued operations		(0.1	)															-						(0.1	)
Net income (loss)		12.2			(0.3	)		(0.2	)		0.5		-		0.4			0.7			1.1			13.3
Net income (loss) attributable to noncontrolling interests		-																-						-
Net income (loss) attributable to AMCOL shareholders	$	12.2		$	(0.3	)	$	(0.2	)	$	0.5	$	-	$	0.4		$	0.7		$	1.1		$	13.3
Weighted average common shares outstanding		31.5																			31.5			31.5
Weighted average common and common equivalent shares outstanding		32.0																			32.0			32.0
Amounts attributable to AMCOL shareholders
Income from continuing operations, net of tax	$	12.3																		$	1.1		$	13.4
Discontinued operations, net of tax		(0.1	)																		-			(0.1	)
Net income	$	12.2																		$	1.1		$	13.3
Earnings per share attributable to AMCOL shareholders:
Basic earnings (loss) per share:
Continuing operations	$	0.39																		$	0.03		$	0.42
Discontinued operations		-																			-			-
Net income	$	0.39																		$	0.03		$	0.42
Diluted earnings (loss) per share:
Continuing operations	$	0.38																		$	0.04		$	0.42
Discontinued operations		-																			-			-
Net income	$	0.38																		$	0.04		$	0.42

	Quarter Ended June 30, 2011
	Previously Reported			Adjustments																			As Adjusted
				Spain			South Africa			Malaysia		DongMing			Tax		Other			Total
Continuing Operations
Net sales	$	242.8		$	-		$	-		$	-	$	-		$	-	$	0.3		$	0.3		$	243.1
Cost of sales		180.7			0.3			0.1										-			0.4			181.1
Gross profit		62.1			(0.3	)		(0.1	)		-		-			-		0.3			(0.1	)		62.0
Selling, general and administrative expenses		40.3											0.7					-			0.7			41.0
Operating profit		21.8			(0.3	)		(0.1	)		-		(0.7	)		-		0.3			(0.8	)		21.0
Other income (expense):
Interest expense, net		(2.8	)															0.1			0.1			(2.7	)
Other, net		0.5																-						0.5
		(2.3	)		-			-			-		-			-		0.1			0.1			(2.2	)
Income before income taxes and income (loss) from
affiliates and joint ventures		19.5			(0.3	)		(0.1	)		-		(0.7	)		-		0.4			(0.7	)		18.8
Income tax expense (benefit)		5.9						0.1					(0.2	)				(0.1	)		(0.2	)		5.7
Income before income (loss) from affiliates and
joint ventures		13.6			(0.3	)		(0.2	)		-		(0.5	)		-		0.5			(0.5	)		13.1
Income (loss) from affiliates and joint ventures		(0.1	)															-						(0.1	)
Income (loss) from continuing operations		13.5			(0.3	)		(0.2	)		-		(0.5	)		-		0.5			(0.5	)		13.0
Discontinued Operations
Income (loss) on discontinued operations		0.2																-						0.2
Net income (loss)		13.7			(0.3	)		(0.2	)		-		(0.5	)		-		0.5			(0.5	)		13.2
Net income (loss) attributable to noncontrolling interests		-																-						-
Net income (loss) attributable to AMCOL shareholders	$	13.7		$	(0.3	)	$	(0.2	)	$	-	$	(0.5	)	$	-	$	0.5		$	(0.5	)	$	13.2
Weighted average common shares outstanding		31.7																			31.7			31.7
Weighted average common and common equivalent shares outstanding		32.2																			32.2			32.2
Amounts attributable to AMCOL shareholders
Income from continuing operations, net of tax	$	13.5																		$	(0.5	)	$	13.0
Discontinued operations, net of tax		0.2																			-			0.2
Net income	$	13.7																		$	(0.5	)	$	13.2
Earnings per share attributable to AMCOL shareholders:
Basic earnings (loss) per share:
Continuing operations	$	0.42																		$	(0.01	)	$	0.41
Discontinued operations		0.01																			-			0.01
Net income	$	0.43																		$	(0.01	)	$	0.42
Diluted earnings (loss) per share:
Continuing operations	$	0.42																		$	(0.02	)	$	0.40
Discontinued operations		0.01																			-			0.01
Net income	$	0.43																		$	(0.02	)	$	0.41

	Quarter Ended September 30, 2011
	Previously Reported			Adjustments																			As Adjusted
				Spain			South Africa			Malaysia		DongMing		Tax			Other			Total
Continuing Operations
Net sales	$	248.1		$	-		$	-		$	-	$	-	$	-		$	-		$	-		$	248.1
Cost of sales		177.1			0.3			0.1										-			0.4			177.5
Gross profit		71.0			(0.3	)		(0.1	)		-		-		-			-			(0.4	)		70.6
Selling, general and administrative expenses		43.9																0.1			0.1			44.0
Operating profit		27.1			(0.3	)		(0.1	)		-		-		-			(0.1	)		(0.5	)		26.6
Other income (expense):
Interest expense, net		(2.8	)															-						(2.8	)
Other, net		(0.1	)															(0.1	)		(0.1	)		(0.2	)
		(2.9	)		-			-			-		-		-			(0.1	)		(0.1	)		(3.0	)
Income before income taxes and income (loss) from affiliates and joint ventures		24.2			(0.3	)		(0.1	)		-		-		-			(0.2	)		(0.6	)		23.6
Income tax expense (benefit)		6.7						0.1							(1.4	)		(0.1	)		(1.4	)		5.3
Income before income (loss) from affiliates and joint ventures		17.5			(0.3	)		(0.2	)		-		-		1.4			(0.1	)		0.8			18.3
Income (loss) from affiliates and joint ventures		3.0																-						3.0
Income (loss) from continuing operations		20.5			(0.3	)		(0.2	)		-		-		1.4			(0.1	)		0.8			21.3
Discontinued Operations
Income (loss) on discontinued operations		(1.0	)															(0.3	)		(0.3	)		(1.3	)
Net income (loss)		19.5			(0.3	)		(0.2	)		-		-		1.4			(0.4	)		0.5			20.0
Net income (loss) attributable to noncontrolling interests		-						(0.1	)									-			(0.1	)		(0.1	)
Net income (loss) attributable to AMCOL shareholders	$	19.5		$	(0.3	)	$	(0.1	)	$	-	$	-	$	1.4		$	(0.4	)	$	0.6		$	20.1
Weighted average common shares outstanding		31.8																			31.8			31.8
Weighted average common and common equivalent shares outstanding		32.2																			32.2			32.2
Amounts attributable to AMCOL shareholders
Income from continuing operations, net of tax	$	20.5																		$	0.9		$	21.4
Discontinued operations, net of tax		(1.0	)																		(0.3	)		(1.3	)
Net income	$	19.5																		$	0.6		$	20.1
Earnings per share attributable to AMCOL shareholders:
Basic earnings (loss) per share:
Continuing operations	$	0.64																		$	0.03		$	0.67
Discontinued operations		(0.03	)																		(0.01	)		(0.04	)
Net income	$	0.61																		$	0.02		$	0.63
Diluted earnings (loss) per share:
Continuing operations	$	0.64																		$	0.02		$	0.66
Discontinued operations		(0.03	)																		(0.01	)		(0.04	)
Net income	$	0.61																		$	0.01		$	0.62

The effect of correcting these errors in our condensed consolidated statement of operations for the nine months ended September 30, 2011 is as follows:

	Nine Months Ended Sep 30, 2011
	Previously Reported			Adjustments																				As Adjusted
				Spain			South Africa			Malaysia		DongMing			Tax			Other			Total
Continuing Operations
Net sales	$	708.7		$	-		$	-		$	0.6	$	-		$	-		$	0.5		$	1.1		$	709.8
Cost of sales		517.9			0.9			0.3			-		-			-			(0.3	)		0.9			518.8
Gross profit		190.8			(0.9	)		(0.3	)		0.6		-			-			0.8			0.2			191.0
Selling, general and administrative expenses		123.3			-			-			-		0.7			-			0.1			0.8			124.1
Operating profit		67.5			(0.9	)		(0.3	)		0.6		(0.7	)		-			0.7			(0.6	)		66.9
Other income (expense):
Interest expense, net		(8.3	)		-			-			-		-			-			0.2			0.2			(8.1	)
Other, net		-			-			-			-		-			-			(0.1	)		(0.1	)		(0.1	)
		(8.3	)		-			-			-		-			-			0.1			0.1			(8.2	)
Income before income taxes and income (loss) from affiliates and joint ventures		59.2			(0.9	)		(0.3	)		0.6		(0.7	)		-			0.8			(0.5	)		58.7
Income tax expense (benefit)		16.9			-			0.3			0.1		(0.2	)		(1.9	)		(0.3	)		(2.0	)		14.9
Income before income (loss) from affiliates and joint ventures		42.3			(0.9	)		(0.6	)		0.5		(0.5	)		1.9			1.1			1.5			43.8
Income (loss) from affiliates and joint ventures		4.0			-			-			-		-			(0.1	)		-			(0.1	)		3.9
Income (loss) from continuing operations		46.3			(0.9	)		(0.6	)		0.5		(0.5	)		1.8			1.1			1.4			47.7
Discontinued Operations
Income (loss) on discontinued operations		(0.9	)		-			-			-		-			-			(0.3	)		(0.3	)		(1.2	)
Net income (loss)		45.4			(0.9	)		(0.6	)		0.5		(0.5	)		1.8			0.8			1.1			46.5
Net income (loss) attributable to noncontrolling interests		-			-			(0.1	)		-		-			-			-			(0.1	)		(0.1	)
Net income (loss) attributable to AMCOL shareholders	$	45.4		$	(0.9	)	$	(0.5	)	$	0.5	$	(0.5	)	$	1.8		$	0.8		$	1.2		$	46.6
Weighted average common shares outstanding		31.7																				31.7			31.7
Weighted average common and common equivalent shares outstanding		32.1																				32.1			32.1
Amounts attributable to AMCOL shareholders
Income from continuing operations, net of tax	$	46.3																			$	1.5		$	47.8
Discontinued operations, net of tax		(0.9	)																			(0.3	)		(1.2	)
Net income	$	45.4																			$	1.2		$	46.6
Earnings per share attributable to AMCOL shareholders:
Basic earnings (loss) per share:
Continuing operations	$	1.46																			$	0.05		$	1.51
Discontinued operations		(0.03	)																			(0.01	)		(0.04	)
Net income	$	1.43																			$	0.04		$	1.47
Diluted earnings (loss) per share:
Continuing operations	$	1.44																			$	0.05		$	1.49
Discontinued operations		(0.03	)																			(0.01	)		(0.04	)
Net income	$	1.41																			$	0.04		$	1.45

With regards to our condensed consolidated statement of comprehensive income for the three months ended March 31, 2011, correcting these errors increased total comprehensive income by $1.0, reflecting the $1.1 increase to net income as previously discussed in addition to $0.1 of losses resulting from foreign currency translation.

With regards to our condensed consolidated statement of comprehensive income for the three months ended June 30, 2011, correcting these errors reduced total comprehensive income by $0.6 resulting from the decrease to net income as previously discussed in addition to $0.1 of losses resulting from foreign currency translation.

With regards to our condensed consolidated statement of comprehensive income for the three months ended September 30, 2011, correcting these errors increased total comprehensive income by $0.7 resulting from the $0.5 increase to net income as previously discussed in addition to $0.2 of income resulting from foreign currency translation.

With regards to our condensed consolidated statement of comprehensive income for the nine months ended September 30, 2011, correcting these errors increased total comprehensive income by $1.1, reflecting the $1.1 increase to net income as previously discussed.

The effect of correcting these errors in our condensed consolidated statements of cash flows for the three months ended March 31, 2011, six months ended June 30, 2011, and nine months ended September 30, 2011 is as follows:

	Three Months Ended March 31, 2011									Six Months Ended June 30, 2011
	Previously Reported			Adjustments			As Adjusted			Previously Reported			Adjustments			As Adjusted
Net cash provided by (used in) operating activities	$	10.3		$	-		$	10.3		$	13.9		$	0.1		$	14.0
Net cash (used in) investing activities		(10.3	)		0.5			(9.8	)		(24.4	)		0.5			(23.9	)
Net cash provided by (used in) financing activities		(6.3	)		-			(6.3	)		0.4			(0.1	)		0.3
Effect of foreign currency rate changes on cash		0.2			-			0.2			0.7			-			0.7
Net increase (decrease) in cash and cash equivalents		(6.1	)		0.5			(5.6	)		(9.4	)		0.5			(8.9	)
Cash and cash equivalents at beginning of period		27.3			(0.5	)		26.8			27.3			(0.5	)		26.8
Cash and cash equivalents at end of period	$	21.2		$	-		$	21.2		$	17.9		$	-		$	17.9

	Nine Months Ended September 30, 2011
	Previously reported			Adjustments			As Adjusted
Net cash provided by (used in) operating activities	$	16.6		$	0.1		$	16.7
Net cash (used in) investing activities		(40.9	)		0.5			(40.4	)
Net cash provided by (used in) financing activities		5.5			(0.1	)		5.4
Effect of foreign currency rate changes on cash		0.8			-			0.8
Net increase (decrease) in cash and cash equivalents		(18.0	)		0.5			(17.5	)
Cash and cash equivalents at beginning of period		27.3			(0.5	)		26.8
Cash and cash equivalents at end of period	$	9.3		$	-		$	9.3

Corrections to three months ended March 31, 2012

The effect of correcting these errors in our condensed consolidated statement of operations for the three months ended March 31, 2012 is as follows:

	Quarter Ended March 31, 2012
	Previously Reported			Adjustments																	As Adjusted
				Spain			South Africa			Malaysia		Tax			Other			Total
Continuing Operations
Net sales	$	235.8		$	-		$	-		$	-	$	-		$	(0.2	)	$	(0.2	)	$	235.6
Cost of sales		170.7			0.4			0.1								(0.2	)		0.3			171.0
Gross profit		65.1			(0.4	)		(0.1	)		-		-			-			(0.5	)		64.6
Selling, general and administrative expenses		43.6			(0.2	)										(0.1	)		(0.3	)		43.3
Operating profit		21.5			(0.2	)		(0.1	)		-		-			0.1			(0.2	)		21.3
Other income (expense):
Interest expense, net		(2.7	)													-						(2.7	)
Other, net		(2.1	)													(0.1	)		(0.1	)		(2.2	)
		(4.8	)		-			-			-		-			(0.1	)		(0.1	)		(4.9	)
Income before income taxes and income (loss) from affiliates and joint ventures		16.7			(0.2	)		(0.1	)		-		-			-			(0.3	)		16.4
Income tax expense (benefit)		4.8			0.1			(0.1	)				(0.3	)		(0.2	)		(0.5	)		4.3
Income before income (loss) from affiliates and
joint ventures		11.9			(0.3	)		-			-		0.3			0.2			0.2			12.1
Income (loss) from affiliates and joint ventures		1.2														-						1.2
Income (loss) from continuing operations		13.1			(0.3	)		-			-		0.3			0.2			0.2			13.3
Discontinued Operations
Income (loss) on discontinued operations		(0.2	)													0.2			0.2			-
Net income (loss)		12.9			(0.3	)		-			-		0.3			0.4			0.4			13.3
Net income (loss) attributable to noncontrolling interests		0.1														-						0.1
Net income (loss) attributable to AMCOL shareholders	$	12.8		$	(0.3	)	$	-		$	-	$	0.3		$	0.4		$	0.4		$	13.2
Weighted average common shares outstanding		32.0																	32.0			32.0
Weighted average common and common equivalent shares outstanding		32.3																	32.3			32.3
Amounts attributable to AMCOL shareholders
Income from continuing operations, net of tax	$	13.0																$	0.2		$	13.2
Discontinued operations, net of tax		(0.2	)																0.2			-
Net income	$	12.8																$	0.4		$	13.2
Earnings per share attributable to AMCOL shareholders:
Basic earnings (loss) per share:
Continuing operations	$	0.41																$	-		$	0.41
Discontinued operations		(0.01	)																0.01			-
Net income	$	0.40																$	0.01		$	0.41
Diluted earnings (loss) per share:
Continuing operations	$	0.41																$	-		$	0.41
Discontinued operations		(0.01	)																0.01			-
Net income	$	0.40																$	0.01		$	0.41

With regards to our consolidated statement of comprehensive income for the three months ended March 31, 2012, correcting these errors increased total comprehensive income by $0.3, reflecting the $0.4 increase to net income as previously discussed in addition to $0.1 of losses resulting from foreign currency translation.

The effect of correcting these errors in our condensed consolidated statements of cash flows for the three months ended March 31, 2012 is as follows:

	Three Months Ended March 31, 2012
	Previously Reported			Adjustments			As Adjusted
Net cash provided by (used in) operating activities	$	20.6		$	0.3		$	20.9
Net cash (used in) investing activities		(15.3	)		(0.1	)		(15.4	)
Net cash provided by (used in) financing activities		(12.1	)		(0.2	)		(12.3	)
Net increase (decrease) in cash and cash equivalents		(6.8	)		-			(6.8	)
Cash and cash equivalents at beginning of period		23.7			-			23.7
Cash and cash equivalents at end of period	$	16.9		$	-		$	16.9

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CORRECTION OF ERRORS IN PREVIOUSLY REPORTED FINANCIAL STATEMENTS (DETAILS 2) (USD $) In Millions, unless otherwise specified	Sep. 30, 2012	Mar. 31, 2012	Dec. 31, 2011	Sep. 30, 2011	Jun. 30, 2011	Mar. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Current assets:
Cash and cash equivalents	$ 17.7	$ 16.9	$ 23.7	$ 9.3	$ 17.9	$ 21.2	$ 26.8	$ 27.7
Accounts receivable, net	219.9		204.8				190.1
Inventories	160.8		144.8				105.6
Prepaid expenses	19.4		15.7				13.0
Deferred income taxes	6.8		5.9				5.5
Income tax receivable	15.1		6.9				8.5
Other	2.6		6.1				6.2
Total current assets	442.3		407.9				355.7
Property, plant, equipment, and mineral rights and reserves:
Land	12.9		13.9				10.9
Mineral rights	49.9		52.5				65.0
Depreciable assets	535.6		482.6				452.3
Gross property, plant and equipment	598.4		549.0				528.2
Less: accumulated depreciation and depletion	303.4		275.5				256.7
Net property, plant and equipment	295.0		273.5				271.5
Goodwill	69.9		69.5				70.9
Intangible assets, net	34.8		36.6				41.9
Investment in and advances to affiliates and joint ventures	28.0		26.4				20.9
Available-for-sale securities	7.9		3.8				14.2
Deferred income taxes	9.3		8.5				9.2
Other assets	25.6		24.4				23.5
Total noncurrent assets	470.5		442.7				452.1
Total Assets	912.8		850.6				807.8
Current liabilities:
Accounts payable	52.7		56.5				51.4
Accrued income taxes	18.2		2.4				5.1
Accrued liabilities	66.9		57.9				55.2
Total current liabilities	137.8		116.8				111.7
Noncurrent liabilities:
Long-term debt	244.1		260.7				235.7
Pension liabilities	35.3		34.8				21.3
Deferred compensation	10.3		8.9				9.0
Deferred income taxes	13.0		13.5				16.6
Other long-term liabilities	21.7		19.2				18.4
Total noncurrent liabilities	324.4		337.1				301.0
Shareholders' Equity:
Common stock	0.3		0.3				0.3
Additional paid in capital	100.8		94.3				95.1
Retained earnings	352.1		316.4				279.6
Accumulated other comprehensive income (loss)	(5.7)		(15.0)				28.7
Less: Treasury stock	(0.7)		(3.4)				(8.9)
Total AMCOL shareholders' equity	446.8		392.6				394.8
Noncontrolling interest	3.8		4.1				0.3
Total equity	450.6		396.7	401.4			395.1
Total Liabilities and Shareholders' Equity	912.8		850.6				807.8
Previously reported [Member]
Current assets:
Cash and cash equivalents		16.9	23.7	9.3	17.9	21.2	27.3	27.7
Accounts receivable, net			206.8				194.0
Inventories			146.6				107.5
Prepaid expenses			15.7				12.6
Deferred income taxes			5.9				5.5
Income tax receivable			6.9				8.5
Other			6.7				6.2
Total current assets			412.3				361.6
Property, plant, equipment, and mineral rights and reserves:
Land			13.9				11.6
Mineral rights			41.9				51.4
Depreciable assets			482.3				454.4
Gross property, plant and equipment			538.1				517.4
Less: accumulated depreciation and depletion			275.5				256.9
Net property, plant and equipment			262.6				260.5
Goodwill			69.5				70.9
Intangible assets, net			36.6				42.6
Investment in and advances to affiliates and joint ventures			26.4				19.0
Available-for-sale securities			3.8				14.2
Deferred income taxes			7.8				7.6
Other assets			23.7				22.7
Total noncurrent assets			430.4				437.5
Total Assets			842.7				799.1
Current liabilities:
Accounts payable			56.4				53.2
Accrued income taxes			2.7				4.1
Accrued liabilities			59.0				55.2
Total current liabilities			118.1				112.5
Noncurrent liabilities:
Long-term debt			260.7				236.2
Pension liabilities			34.8				21.3
Deferred compensation			8.9				8.7
Deferred income taxes			0.8				0.4
Other long-term liabilities			19.2				19.6
Total noncurrent liabilities			324.4				286.2
Shareholders' Equity:
Common stock			0.3				0.3
Additional paid in capital			94.5				95.1
Retained earnings			319.5				283.2
Accumulated other comprehensive income (loss)			(14.9)				28.9
Less: Treasury stock			(3.4)				(8.9)
Total AMCOL shareholders' equity			396.0				398.6
Noncontrolling interest			4.2				1.8
Total equity			400.2				400.4
Total Liabilities and Shareholders' Equity			842.7				799.1
Adjustments [Member]
Current assets:
Cash and cash equivalents		0	0	0	0	0	(0.5)	0
Accounts receivable, net			(2.0)				(3.9)
Inventories			(1.8)				(1.9)
Prepaid expenses							0.4
Other			(0.6)
Total current assets			(4.4)				(5.9)
Property, plant, equipment, and mineral rights and reserves:
Land							(0.7)
Mineral rights			10.6				13.6
Depreciable assets			0.3				(2.1)
Gross property, plant and equipment			10.9				10.8
Less: accumulated depreciation and depletion							(0.2)
Net property, plant and equipment			10.9				11.0
Intangible assets, net							(0.7)
Investment in and advances to affiliates and joint ventures							1.9
Deferred income taxes			0.7				1.6
Other assets			0.7				0.8
Total noncurrent assets			12.3				14.6
Total Assets			7.9				8.7
Current liabilities:
Accounts payable			0.1				(1.8)
Accrued income taxes			(0.3)				1.0
Accrued liabilities			(1.1)
Total current liabilities			(1.3)				(0.8)
Noncurrent liabilities:
Long-term debt							(0.5)
Deferred compensation							0.3
Deferred income taxes			12.7				16.2
Other long-term liabilities							(1.2)
Total noncurrent liabilities			12.7				14.8
Shareholders' Equity:
Additional paid in capital			(0.2)
Retained earnings			(3.1)				(3.6)
Accumulated other comprehensive income (loss)			(0.1)				(0.2)
Total AMCOL shareholders' equity			(3.4)				(3.8)
Noncontrolling interest			(0.1)				(1.5)
Total equity			(3.5)				(5.3)
Total Liabilities and Shareholders' Equity			7.9				8.7
Tax [Member] | Adjustments [Member]
Current assets:
Cash and cash equivalents			0				0
Total current assets			0				0
Property, plant, equipment, and mineral rights and reserves:
Gross property, plant and equipment			0				0
Net property, plant and equipment			0				0
Total noncurrent assets			0				0
Total Assets			0				0
Current liabilities:
Accounts payable			0
Accrued income taxes			0.1				1.2
Total current liabilities			0.1				1.2
Noncurrent liabilities:
Deferred income taxes							0.4
Total noncurrent liabilities			0				0.4
Shareholders' Equity:
Retained earnings			(0.1)				(1.6)
Total AMCOL shareholders' equity			(0.1)				(1.6)
Total equity			(0.1)				(1.6)
Total Liabilities and Shareholders' Equity			0				0
Other [Member] | Adjustments [Member]
Current assets:
Cash and cash equivalents			0				(0.5)
Accounts receivable, net			0.3				(2.4)
Inventories			(0.2)				(0.9)
Prepaid expenses			0				0.4
Deferred income taxes			0				0
Income tax receivable			0				0
Other			(0.6)				0
Total current assets			(0.5)				(3.4)
Property, plant, equipment, and mineral rights and reserves:
Land							(0.7)
Mineral rights			0				0
Depreciable assets			0.3				(2.1)
Gross property, plant and equipment			0.3				(2.8)
Less: accumulated depreciation and depletion			0				(0.2)
Net property, plant and equipment			0.3				(2.6)
Intangible assets, net			0				(0.7)
Investment in and advances to affiliates and joint ventures			0				1.9
Available-for-sale securities			0				0
Deferred income taxes			0				0
Other assets			0				0.3
Total noncurrent assets			0.3				(1.1)
Total Assets			(0.2)				(4.5)
Current liabilities:
Accounts payable			0.1				(1.1)
Accrued income taxes			(0.2)				(0.1)
Accrued liabilities			0				(0.1)
Total current liabilities			(0.1)				(1.3)
Noncurrent liabilities:
Long-term debt			0				(0.5)
Pension liabilities			0				0
Deferred compensation			0				0.3
Deferred income taxes			0.1				0
Other long-term liabilities			0				(1.2)
Total noncurrent liabilities			0.1				(1.4)
Shareholders' Equity:
Common stock			0				0
Additional paid in capital			0				0
Retained earnings			0.1				(0.4)
Accumulated other comprehensive income (loss)			(0.3)				(0.1)
Less: Treasury stock			0				0
Total AMCOL shareholders' equity			(0.2)				(0.5)
Noncontrolling interest			0				(1.3)
Total equity			(0.2)				(1.8)
Total Liabilities and Shareholders' Equity			(0.2)				(4.5)
Spain [Member] | Adjustments [Member]
Current assets:
Cash and cash equivalents			0				0
Accounts receivable, net			(1.6)				(0.4)
Inventories			(1.8)				(1.0)
Total current assets			(3.4)				(1.4)
Property, plant, equipment, and mineral rights and reserves:
Gross property, plant and equipment			0				0
Net property, plant and equipment			0				0
Total noncurrent assets			0				0
Total Assets			(3.4)				(1.4)
Current liabilities:
Accounts payable			0				0
Accrued income taxes			(0.3)				(0.1)
Accrued liabilities			(0.8)				0.1
Total current liabilities			(1.1)				0
Noncurrent liabilities:
Total noncurrent liabilities			0				0
Shareholders' Equity:
Retained earnings			(2.5)				(1.4)
Accumulated other comprehensive income (loss)			0.2
Total AMCOL shareholders' equity			(2.3)				(1.4)
Total equity			(2.3)				(1.4)
Total Liabilities and Shareholders' Equity			(3.4)				(1.4)
South Africa [Member] | Adjustments [Member]
Current assets:
Cash and cash equivalents			0				0
Inventories			0.2
Total current assets			0.2				0
Property, plant, equipment, and mineral rights and reserves:
Mineral rights			10.6				13.6
Gross property, plant and equipment			10.6				13.6
Net property, plant and equipment			10.6				13.6
Deferred income taxes			0.7				1.6
Total noncurrent assets			11.3				15.2
Total Assets			11.5				15.2
Current liabilities:
Accounts payable			0				0
Accrued income taxes			0.1
Total current liabilities			0.1				0
Noncurrent liabilities:
Deferred income taxes			12.6				15.8
Total noncurrent liabilities			12.6				15.8
Shareholders' Equity:
Additional paid in capital			(0.2)
Retained earnings			(0.9)				(0.3)
Accumulated other comprehensive income (loss)							(0.1)
Total AMCOL shareholders' equity			(1.1)				(0.4)
Noncontrolling interest			(0.1)				(0.2)
Total equity			(1.2)				(0.6)
Total Liabilities and Shareholders' Equity			11.5				15.2
Malaysia [Member] | Adjustments [Member]
Current assets:
Cash and cash equivalents			0				0
Accounts receivable, net			(0.7)				(1.1)
Total current assets			(0.7)				(1.1)
Property, plant, equipment, and mineral rights and reserves:
Gross property, plant and equipment			0				0
Net property, plant and equipment			0				0
Other assets			0.7				0.5
Total noncurrent assets			0.7				0.5
Total Assets			0				(0.6)
Current liabilities:
Accounts payable			0				0
Accrued income taxes							(0.2)
Accrued liabilities			(0.3)
Total current liabilities			(0.3)				(0.2)
Noncurrent liabilities:
Total noncurrent liabilities			0				0
Shareholders' Equity:
Retained earnings			0.3				(0.4)
Total AMCOL shareholders' equity			0.3				(0.4)
Total equity			0.3				(0.4)
Total Liabilities and Shareholders' Equity			0				(0.6)
Dong Ming [Member] | Adjustments [Member]
Current assets:
Cash and cash equivalents			0				0
Total current assets			0				0
Property, plant, equipment, and mineral rights and reserves:
Gross property, plant and equipment			0				0
Net property, plant and equipment			0				0
Total noncurrent assets			0				0
Total Assets			0				0
Current liabilities:
Accounts payable			0				(0.7)
Accrued income taxes							0.2
Total current liabilities			0				(0.5)
Noncurrent liabilities:
Total noncurrent liabilities			0				0
Shareholders' Equity:
Retained earnings			0				0.5
Total AMCOL shareholders' equity			0				0.5
Total equity			0				0.5
Total Liabilities and Shareholders' Equity			$ 0				$ 0

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EMPLOYEE BENEFITS PLANS (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012	Sep. 30, 2011
Summary of net periodic pension cost
Service cost	$ 0.4	$ 0.3	$ 1.3	$ 1.1
Interest cost	0.7	0.7	2.0	2.0
Expected return on plan assets	(0.6)	(0.7)	(1.9)	(2.1)
Amortization of acturial loss	0.2	0	0.7	0
Net periodic benefit cost	$ 0.7	$ 0.3	$ 2.1	$ 1.0

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CONDENSED CONSOLIDATED BALANCE SHEETS (USD $) In Millions, unless otherwise specified	Sep. 30, 2012	Mar. 31, 2012	Dec. 31, 2011	Sep. 30, 2011	Jun. 30, 2011	Mar. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Current assets:
Cash and cash equivalents	$ 17.7	$ 16.9	$ 23.7	$ 9.3	$ 17.9	$ 21.2	$ 26.8	$ 27.7
Accounts receivable, net	219.9		204.8				190.1
Inventories	160.8		144.8				105.6
Prepaid expenses	19.4		15.7				13.0
Deferred income taxes	6.8		5.9				5.5
Income tax receivable	15.1		6.9				8.5
Other	2.6		6.1				6.2
Total current assets	442.3		407.9				355.7
Property, plant, equipment, and mineral rights and reserves:
Land	12.9		13.9				10.9
Mineral rights	49.9		52.5				65.0
Depreciable assets	535.6		482.6				452.3
Gross property, plant and equipment	598.4		549.0				528.2
Less: accumulated depreciation and depletion	303.4		275.5				256.7
Net property, plant and equipment	295.0		273.5				271.5
Goodwill	69.9		69.5				70.9
Intangible assets, net	34.8		36.6				41.9
Investment in and advances to affiliates and joint ventures	28.0		26.4				20.9
Available-for-sale securities	7.9		3.8				14.2
Deferred income taxes	9.3		8.5				9.2
Other assets	25.6		24.4				23.5
Total noncurrent assets	470.5		442.7				452.1
Total Assets	912.8		850.6				807.8
Current liabilities:
Accounts payable	52.7		56.5				51.4
Accrued income taxes	18.2		2.4				5.1
Accrued liabilities	66.9		57.9				55.2
Total current liabilities	137.8		116.8				111.7
Noncurrent liabilities:
Long-term debt	244.1		260.7				235.7
Pension liabilities	35.3		34.8				21.3
Deferred compensation	10.3		8.9				9.0
Deferred income taxes	13.0		13.5				16.6
Other long-term liabilities	21.7		19.2				18.4
Total noncurrent liabilities	324.4		337.1				301.0
Shareholders' Equity:
Common stock	0.3		0.3				0.3
Additional paid in capital	100.8		94.3				95.1
Retained earnings	352.1		316.4				279.6
Accumulated other comprehensive income (loss)	(5.7)		(15.0)				28.7
Less: Treasury stock	(0.7)		(3.4)				(8.9)
Total AMCOL shareholders' equity	446.8		392.6				394.8
Noncontrolling interest	3.8		4.1				0.3
Total equity	450.6		396.7	401.4			395.1
Total Liabilities and Shareholders' Equity	$ 912.8		$ 850.6				$ 807.8

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DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Details 2) (Foreign exchange derivative instruments [Member], Derivatives Not Designated as Hedging Instruments [Member], Other, net [Member], USD $) In Millions, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012	Sep. 30, 2011
Foreign exchange derivative instruments [Member] | Derivatives Not Designated as Hedging Instruments [Member] | Other, net [Member]
Changes in fair value of foreign exchange contracts
Amount of Gain or (Loss) Recognized in Income on Derivatives	$ (0.3)	$ 0.5	$ 0	$ (0.8)

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $) In Millions, unless otherwise specified	9 Months Ended
	Sep. 30, 2012	Sep. 30, 2011
Cash flow from operating activities:
Net income	$ 53.4	$ 46.5
Adjustments to reconcile from net income (loss) to net cash provided by (used in) operating activities:
Depreciation, depletion, and amortization	33.3	31.2
Other non-cash charges	5.3	4.1
Changes in assets and liabilities, net of effects of acquisitions:
Decrease (increase) in current assets	(43.1)	(90.3)
Decrease (increase) in noncurrent assets	(0.5)	2.5
Increase (decrease) in current liabilities	19.0	24.2
Increase (decrease) in noncurrent liabilities	5.2	(1.5)
Net cash provided by (used in) operating activities	72.6	16.7
Cash flow from investing activities:
Capital expenditures	(54.2)	(43.8)
Investments in and advances to affiliates and joint ventures	0.2	(0.7)
Proceeds from sale of land and depreciable assets	1.5	1.6
Other	1.9	2.5
Net cash (used in) investing activities	(50.6)	(40.4)
Cash flow from financing activities:
Net change in outstanding debt	(16.8)	14.9
Proceeds from sales of treasury stock	4.9	6.9
Dividends	(17.2)	(17.1)
Excess tax benefits from stock-based compensation	0.2	0.7
Net cash provided by (used in) financing activities	(28.9)	5.4
Effect of foreign currency rate changes on cash	0.9	0.8
Net increase (decrease) in cash and cash equivalents	(6.0)	(17.5)
Cash and cash equivalents at beginning of period	23.7	26.8
Cash and cash equivalents at end of period	$ 17.7	$ 9.3

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EARNINGS PER SHARE (Details)	3 Months Ended					9 Months Ended		12 Months Ended
	Sep. 30, 2012	Mar. 31, 2012	Sep. 30, 2011	Jun. 30, 2011	Mar. 31, 2011	Sep. 30, 2012	Sep. 30, 2011	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Reconciliation between basic and diluted earnings per share
Weighted average number of common shares outstanding (in shares)	32,071,202	32,000,000	31,799,536	31,700,000	31,500,000	32,024,603	31,671,781	31,700,000	31,200,000	30,800,000
Dilutive impact of stock based compensation	381,676		393,922			315,636	455,777
Weighted average number of common and common equivalent shares outstanding for the period	32,452,878	32,300,000	32,193,458	32,200,000	32,000,000	32,340,239	32,127,558	32,100,000	31,500,000	31,000,000
Number of common shares outstanding at the end of the period	31,959,139		31,666,904			31,959,139	31,666,904
Weighted average anti-dilutive shares excluded from the computation of diluted earnings per share	276,753		218,800			635,738	186,929

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ADDITIONAL BALANCE SHEET INFORMATION (Tables)

9 Months Ended

Sep. 30, 2012

Summary of Significant Accounting Policies / Additional Balance Sheet Information [Abstract]

Inventories

Our inventories at September 30, 2012 and December 31, 2011 are comprised of the following components:

	September 30, 2012		December 31, 2011
Crude stockpile inventories	$	61.6	$	54.5
In-process and finished goods inventories		71.4		64.4
Other raw material, container, and supplies inventories		27.8		25.9
	$	160.8	$	144.8

Reclamation liability

We mine various minerals using a surface mining process that requires the removal of overburden.  In certain areas and under various governmental regulations, we are obligated to restore the land comprising each mining site to its original condition at the completion of the mining activity.  We include an estimate of this reclamation liability in our condensed consolidated balance sheets; it is adjusted to reflect the passage of time and changes in estimated future cash outflows.  A reconciliation of the activity within our reclamation liability is as follows:

	Nine Months Ended September 30,
	2012			2011
Balance at beginning of period	$	9.3		$	7.5
Settlement of obligations		(3.1	)		(2.8	)
Liabilities incurred and accretion expense		3.8			4.4
Foreign currency		(0.1	)		(0.3	)
Balance at end of period	$	9.9		$	8.8

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ADDITIONAL BALANCE SHEET INFORMATION (Details) (USD $) In Millions, unless otherwise specified	Sep. 30, 2012	Dec. 31, 2011	Dec. 31, 2010
Inventories
Crude stockpile inventories	$ 61.6	$ 54.5
In-process and finished goods inventories	71.4	64.4
Other raw material, container, and supplies inventories	27.8	25.9
Inventory, Net, Total	$ 160.8	$ 144.8	$ 105.6

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EMPLOYEE BENEFITS PLANS (Tables)

9 Months Ended

Sep. 30, 2012

Employee Benefit Plans [Abstract]

Summary of net periodic pension cost

Our net periodic benefit cost for our defined benefit pension plan was as follows:

	Nine Months Ended September 30,						Three Months Ended September 30,
	2012			2011			2012			2011
Service cost	$	1.3		$	1.1		$	0.4		$	0.3
Interest cost		2.0			2.0			0.7			0.7
Expected return on plan assets		(1.9	)		(2.1	)		(0.6	)		(0.7	)
Amortization of acturial loss		0.7			-			0.2			-
Net periodic benefit cost	$	2.1		$	1.0		$	0.7		$	0.3

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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

9 Months Ended

Sep. 30, 2012

Summary of Significant Accounting Policies / Additional Balance Sheet Information [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Company Operations

We, AMCOL International Corporation (the "Company"), are a global company focused on long-term profitability growth through the development and application of minerals and technology products and services for use in various industrial and consumer markets.  We operate in five segments:  minerals and materials, environmental, oilfield services, transportation and corporate.

Our minerals and materials segment mines, processes and distributes minerals and products for use in various industrial and consumer markets, including metalcasting, pet care, laundry care, and drilling industries.  Additionally, this segment develops and manufactures synthetic materials principally for personal care applications.

Our environmental segment manufactures and distributes products for use as moisture and vapor barriers in commercial construction, landfills and a variety of other industrial and commercial applications and provides related services.

Our oilfield services segment provides both onshore and offshore water treatment filtration, well testing, pipeline separation, nitrogen, coil tubing and other services to the oil and natural gas industry.

Our transportation segment provides both long-haul trucking and freight brokerage services for our domestic subsidiaries as well as third parties.

Our corporate segment includes the elimination of intersegment sales as well as certain expenses associated with research and development, management, employee benefits and information technology activities for our Company.  Approximately 73% and 76% of the revenue elimination in the nine months ended September 30, 2012 and 2011, respectively, and 73% and 74% of the revenue elimination in the three months ended September 30, 2012 and 2011, respectively, represents elimination of shipping revenues between our transportation segment and its domestic sister companies.

The composition of our revenues by segment is as follows:

	Nine Months Ended September 30,
	2012			2011
Minerals and materials		51	%		50	%
Environmental		23	%		28	%
Oilfield services		25	%		20	%
Transportation		4	%		6	%
Intersegment sales		-3	%		-4	%
		100	%		100	%

Further discussion of our segment information is included in Note 5, "Business Segment Information."

Basis of Presentation

The financial information included herein has been prepared by management.  The information furnished herein includes all adjustments that are, in our opinion, necessary for a fair presentation of our results of operations and cash flows for the interim periods ended September 30, 2012 and 2011, and our financial position as of September 30, 2012, and all such adjustments are of a normal and recurring nature.  The accompanying condensed consolidated financial information should be read in conjunction with the consolidated financial statements and related notes included in our Annual Report on Form 10-K for the year ended December 31, 2011.

Certain items in the prior year's condensed consolidated financial statements contained herein and notes thereto have been reclassified to conform to the condensed consolidated financial statement presentation for the three and nine months ended September 30, 2012.  These reclassifications did not have a material impact on our financial statements.

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America ("US GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period.  Actual results may differ from those estimates.

The results of operations for interim periods are not necessarily indicative of the results to be expected for the full year for a variety of reasons, including the seasonality of both our environmental segment, which varies due to the seasonal nature of the construction industry, and our oilfield services segment, which varies due to seasonal weather patterns in its various geographic markets.

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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (USD $) In Millions, except Share data, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012	Sep. 30, 2011
Continuing Operations
Net sales	$ 253.3	$ 248.1	$ 746.3	$ 709.8
Cost of sales	183.9	177.5	537.7	518.8
Gross profit	69.4	70.6	208.6	191.0
Selling, general and administrative expenses	41.8	44.0	128.7	124.1
Operating profit	27.6	26.6	79.9	66.9
Other income (expense):
Interest expense, net	(2.5)	(2.8)	(7.9)	(8.1)
Other, net	0	(0.2)	(2.7)	(0.1)
Total other income (expense), net	(2.5)	(3.0)	(10.6)	(8.2)
Income before income taxes and income (loss) from affiliates and joint ventures	25.1	23.6	69.3	58.7
Income tax expense	7.4	5.3	19.3	14.9
Income before income (loss) from affiliates and joint ventures	17.7	18.3	50.0	43.8
Income (loss) from affiliates and joint ventures	1.1	3.0	3.4	3.9
Income (loss) from continuing operations	18.8	21.3	53.4	47.7
Discontinued Operations
Income (loss) on discontinued operations	0	(1.3)	0	(1.2)
Net income (loss)	18.8	20.0	53.4	46.5
Net income (loss) attributable to noncontrolling interests	0	(0.1)	(0.2)	(0.1)
Net income (loss) attributable to AMCOL shareholders	18.8	20.1	53.6	46.6
Weighted average number of common shares outstanding (in shares)	32,071,202	31,799,536	32,024,603	31,671,781
Weighted average common and common equivalent shares (in shares)	32,452,878	32,193,458	32,340,239	32,127,558
Amounts attributable to AMCOL shareholders
Income from continuing operations, net of tax	18.8	21.4	53.6	47.8
Discontinued operations, net of tax	0	(1.3)	0	(1.2)
Net income	$ 18.8	$ 20.1	$ 53.6	$ 46.6
Basic earnings (loss) per share (in dollars per share)
Continuing operations (in dollars per share)	$ 0.59	$ 0.67	$ 1.67	$ 1.51
Discontinued operations (in dollars per share)	$ 0	$ (0.04)	$ 0	$ (0.04)
Net income	$ 0.59	$ 0.63	$ 1.67	$ 1.47
Diluted earnings (loss) per share (in dollars per share)
Continuing operations (in dollars per share	$ 0.58	$ 0.66	$ 1.66	$ 1.49
Discontinued operations (in dollars per share)	$ 0	$ (0.04)	$ 0	$ (0.04)
Net income (in dollars per share)	$ 0.58	$ 0.62	$ 1.66	$ 1.45
Dividends declared per share (in dollars per share)	$ 0.20	$ 0.18	$ 0.56	$ 0.54

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CONTINGENCIES

9 Months Ended

Sep. 30, 2012

Contingencies [Abstract]

CONTINGENCIES

Note 11: CONTINGENCIES

We are party to a number of lawsuits arising in the normal course of business.   Since the mid-1980s, we and/or our subsidiaries have been named as one of a number of defendants in product liability lawsuits relating to the minor free-silica content of our bentonite products used in the metalcasting industry.  The plaintiffs in these lawsuits are primarily employees of our foundry customers.  Our oilfield services segment is also party to two lawsuits alleging damages caused by our coiled tubing operations in Louisiana; one lawsuit alleges damages of $28 and the other of $9.  We do not believe that any of the aforementioned pending litigation will have a material adverse effect on our consolidated financial statements.

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Document and Entity Information	9 Months Ended
	Sep. 30, 2012	Oct. 31, 2012
Document and Entity Information [Abstract]
Entity Registrant Name	AMCOL INTERNATIONAL CORP
Entity Central Index Key	0000813621
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		31,959,139
Document Fiscal Year Focus	2012
Document Fiscal Period Focus	Q3
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2012

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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

9 Months Ended

Sep. 30, 2012

Summary of Significant Accounting Policies / Additional Balance Sheet Information [Abstract]

Company Operations

Company Operations

We, AMCOL International Corporation (the "Company"), are a global company focused on long-term profitability growth through the development and application of minerals and technology products and services for use in various industrial and consumer markets.  We operate in five segments:  minerals and materials, environmental, oilfield services, transportation and corporate.

Our minerals and materials segment mines, processes and distributes minerals and products for use in various industrial and consumer markets, including metalcasting, pet care, laundry care, and drilling industries.  Additionally, this segment develops and manufactures synthetic materials principally for personal care applications.

Our environmental segment manufactures and distributes products for use as moisture and vapor barriers in commercial construction, landfills and a variety of other industrial and commercial applications and provides related services.

Our oilfield services segment provides both onshore and offshore water treatment filtration, well testing, pipeline separation, nitrogen, coil tubing and other services to the oil and natural gas industry.

Our transportation segment provides both long-haul trucking and freight brokerage services for our domestic subsidiaries as well as third parties.

Our corporate segment includes the elimination of intersegment sales as well as certain expenses associated with research and development, management, employee benefits and information technology activities for our Company.  Approximately 73% and 76% of the revenue elimination in the nine months ended September 30, 2012 and 2011, respectively, and 73% and 74% of the revenue elimination in the three months ended September 30, 2012 and 2011, respectively, represents elimination of shipping revenues between our transportation segment and its domestic sister companies.

Basis of Presentation

Basis of Presentation

The financial information included herein has been prepared by management.  The information furnished herein includes all adjustments that are, in our opinion, necessary for a fair presentation of our results of operations and cash flows for the interim periods ended September 30, 2012 and 2011, and our financial position as of September 30, 2012, and all such adjustments are of a normal and recurring nature.  The accompanying condensed consolidated financial information should be read in conjunction with the consolidated financial statements and related notes included in our Annual Report on Form 10-K for the year ended December 31, 2011.

Certain items in the prior year's condensed consolidated financial statements contained herein and notes thereto have been reclassified to conform to the condensed consolidated financial statement presentation for the three and nine months ended September 30, 2012.  These reclassifications did not have a material impact on our financial statements.

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America ("US GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period.  Actual results may differ from those estimates.

The results of operations for interim periods are not necessarily indicative of the results to be expected for the full year for a variety of reasons, including the seasonality of both our environmental segment, which varies due to the seasonal nature of the construction industry, and our oilfield services segment, which varies due to seasonal weather patterns in its various geographic markets.

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CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) (USD $) In Millions, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012	Sep. 30, 2011
Net income (loss)	$ 18.8	$ 20.0	$ 53.4	$ 46.5
Other comprehensive income (loss):
Foreign currency translation adjustment	8.0	(22.4)	4.5	(20.2)
Unrealized gain (loss) on available-for-sale securities, net of tax	4.9	(1.6)	4.1	(8.2)
Unrealized gain (loss) on interest rate swap agreements, net of tax	0	(1.3)	0	(1.6)
Pension adjustment, net of tax	0.2	0.1	0.6	0.1
Comprehensive income (loss)	31.9	(5.2)	62.6	16.6
AMCOL Shareholders
Net income (loss)	18.8	20.1	53.6	46.6
Other comprehensive income (loss):
Foreign currency translation adjustment	8.0	(21.8)	4.6	(19.6)
Unrealized gain (loss) on available-for-sale securities, net of tax	4.9	(1.6)	4.1	(8.2)
Unrealized gain (loss) on interest rate swap agreements, net of tax	0	(1.3)	0	(1.6)
Pension adjustment, net of tax	0.2	0.1	0.6	0.1
Comprehensive income (loss)	31.9	(4.5)	62.9	17.3
Noncontrolling Interest
Net income (loss)	0	(0.1)	(0.2)	(0.1)
Other comprehensive income (loss):
Foreign currency translation adjustment	0	(0.6)	(0.1)	(0.6)
Unrealized gain (loss) on available-for-sale securities, net of tax	0	0	0	0
Unrealized gain (loss) on interest rate swap agreements, net of tax	0	0	0	0
Pension adjustment, net of tax	0	0	0	0
Comprehensive income (loss)	$ 0	$ (0.7)	$ (0.3)	$ (0.7)

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EMPLOYEE BENEFITS PLANS

9 Months Ended

Sep. 30, 2012

Employee Benefit Plans [Abstract]

EMPLOYEE BENEFIT PLANS

Note 6: EMPLOYEE BENEFIT PLANS

Our net periodic benefit cost for our defined benefit pension plan was as follows:

	Nine Months Ended September 30,						Three Months Ended September 30,
	2012			2011			2012			2011
Service cost	$	1.3		$	1.1		$	0.4		$	0.3
Interest cost		2.0			2.0			0.7			0.7
Expected return on plan assets		(1.9	)		(2.1	)		(0.6	)		(0.7	)
Amortization of acturial loss		0.7			-			0.2			-
Net periodic benefit cost	$	2.1		$	1.0		$	0.7		$	0.3

As previously disclosed in our Annual Report on Form 10-K for the year ended December 31, 2011, we expect to contribute $1.7 to our pension plan in 2012, of which $1.3 was contributed in the nine months ended September 30, 2012.

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BUSINESS SEGMENT INFORMATION

9 Months Ended

Sep. 30, 2012

Business Segment Information [Abstract]

BUSINESS SEGMENT INFORMATION

Note 5: BUSINESS SEGMENT INFORMATION

As previously mentioned, we operate in five segments.  We determine our operating segments based on the discrete financial information that is regularly evaluated by our chief operating decision maker, our President and Chief Executive Officer, in deciding how to allocate resources and in assessing performance.  Intersegment sales are not material and are eliminated in the corporate segment.  Our reportable measure of profit or loss for each segment is operating profit, which is defined as net sales less cost of sales and selling, general and administrative expenses related to a segment's operations.  The costs deducted to arrive at operating profit do not include several items, such as net interest expense or income taxes.  Segment assets are those assets used in the operations of that segment.  Corporate assets include assets used in the operation of this segment as well as those used by or shared amongst our segments, including certain cash and equivalent assets, certain fixed assets, assets associated with certain employee benefit plans, and other miscellaneous assets.

The following tables set forth certain financial information by segment:

	Nine Months Ended September 30,						Three Months Ended September 30,
	2012			2011			2012			2011
Net sales:
Minerals and materials	$	377.3		$	356.4		$	121.0		$	122.3
Environmental		172.8			197.6			60.4			71.1
Oilfield services		185.5			140.9			69.1			50.2
Transportation		33.5			42.3			10.7			14.8
Intersegment sales		(22.8	)		(27.4	)		(7.9	)		(10.3	)
Total	$	746.3		$	709.8		$	253.3		$	248.1
Operating profit (loss):
Minerals and materials	$	62.0		$	49.1		$	18.0		$	19.6
Environmental		13.6			17.9			6.6			7.8
Oilfield services		20.4			15.2			7.9			5.7
Transportation		0.7			1.9			0.2			0.7
Corporate		(16.8	)		(17.2	)		(5.1	)		(7.2	)
Total	$	79.9		$	66.9		$	27.6		$	26.6
	As of Sep 30, 2012			As of Dec. 31, 2011
Assets:
Minerals and materials	$	450.3		$	431.1
Environmental		173.8			160.0
Oilfield services		211.5			194.7
Transportation		3.1			3.9
Corporate		74.1			60.9
Total	$	912.8		$	850.6

	Nine Months Ended September 30,					Three Months Ended September 30,
	2012			2011		2012		2011
Depreciation, depletion and amortization:
Minerals and materials	$	14.5		$	15.5	$	5.0	$	5.5
Environmental		4.0			4.1		1.3		1.5
Oilfield services		12.6			9.5		4.4		3.4
Transportation		0.1			0.1		0.1		0.1
Corporate		2.1			2.0		0.7		0.8
Total	$	33.3		$	31.2	$	11.5	$	11.3
Capital expenditures:
Minerals and materials	$	20.7		$	17.8	$	9.9	$	8.7
Environmental		7.9			6.4		1.6		4.6
Oilfield services		20.8			17.8		7.8		4.9
Transportation		-			0.2		-		-
Corporate		4.8			1.6		2.7		0.8
Total	$	54.2		$	43.8	$	22.0	$	19.0
Research and development (income) expense:
Minerals and materials	$	5.4		$	4.7	$	1.8	$	1.6
Environmental		1.8			1.6		0.6		0.5
Oilfield services		0.6			0.2		0.2		-
Corporate		(0.1	)		0.1		-		0.3
Total	$	7.7		$	6.6	$	2.6	$	2.4

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BUSINESS SEGMENT INFORMATION (Tables)

9 Months Ended

Sep. 30, 2012

Business Segment Information [Abstract]

Segment disclosure

The following tables set forth certain financial information by segment:

	Nine Months Ended September 30,						Three Months Ended September 30,
	2012			2011			2012			2011
Net sales:
Minerals and materials	$	377.3		$	356.4		$	121.0		$	122.3
Environmental		172.8			197.6			60.4			71.1
Oilfield services		185.5			140.9			69.1			50.2
Transportation		33.5			42.3			10.7			14.8
Intersegment sales		(22.8	)		(27.4	)		(7.9	)		(10.3	)
Total	$	746.3		$	709.8		$	253.3		$	248.1
Operating profit (loss):
Minerals and materials	$	62.0		$	49.1		$	18.0		$	19.6
Environmental		13.6			17.9			6.6			7.8
Oilfield services		20.4			15.2			7.9			5.7
Transportation		0.7			1.9			0.2			0.7
Corporate		(16.8	)		(17.2	)		(5.1	)		(7.2	)
Total	$	79.9		$	66.9		$	27.6		$	26.6
	As of Sep 30, 2012			As of Dec. 31, 2011
Assets:
Minerals and materials	$	450.3		$	431.1
Environmental		173.8			160.0
Oilfield services		211.5			194.7
Transportation		3.1			3.9
Corporate		74.1			60.9
Total	$	912.8		$	850.6

	Nine Months Ended September 30,					Three Months Ended September 30,
	2012			2011		2012		2011
Depreciation, depletion and amortization:
Minerals and materials	$	14.5		$	15.5	$	5.0	$	5.5
Environmental		4.0			4.1		1.3		1.5
Oilfield services		12.6			9.5		4.4		3.4
Transportation		0.1			0.1		0.1		0.1
Corporate		2.1			2.0		0.7		0.8
Total	$	33.3		$	31.2	$	11.5	$	11.3
Capital expenditures:
Minerals and materials	$	20.7		$	17.8	$	9.9	$	8.7
Environmental		7.9			6.4		1.6		4.6
Oilfield services		20.8			17.8		7.8		4.9
Transportation		-			0.2		-		-
Corporate		4.8			1.6		2.7		0.8
Total	$	54.2		$	43.8	$	22.0	$	19.0
Research and development (income) expense:
Minerals and materials	$	5.4		$	4.7	$	1.8	$	1.6
Environmental		1.8			1.6		0.6		0.5
Oilfield services		0.6			0.2		0.2		-
Corporate		(0.1	)		0.1		-		0.3
Total	$	7.7		$	6.6	$	2.6	$	2.4

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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

9 Months Ended

Sep. 30, 2012

Summary of Significant Accounting Policies / Additional Balance Sheet Information [Abstract]

Revenue by segment

The composition of our revenues by segment is as follows:

	Nine Months Ended September 30,
	2012			2011
Minerals and materials		51	%		50	%
Environmental		23	%		28	%
Oilfield services		25	%		20	%
Transportation		4	%		6	%
Intersegment sales		-3	%		-4	%
		100	%		100	%

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FAIR VALUE MEASUREMENTS

9 Months Ended

Sep. 30, 2012

Fair Value Measurements [Abstract]

FAIR VALUE MEASUREMENTS

Note 9: FAIR VALUE MEASUREMENTS

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.  Our calculation of the fair value of derivative instruments includes several assumptions.  The fair value hierarchy prioritizes these input assumptions in the following three broad levels:

Level 1 – Valuation is based on quoted prices (unadjusted) in active markets for identical assets or liabilities we have the ability to access at the measurement date.

Level 2 – Valuation is based on quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active and model based valuations for which all significant inputs are observable in the market.

Level 3 – Valuation is based on model based techniques that use unobservable inputs for the asset or liability. These inputs reflect our own assumptions about the assumptions market participants would use in pricing the asset or liability.

The following tables categorize our fair value instruments, measured on a recurring basis, according to the assumptions used to calculate those values:

	Fair Value Measurements Using
Description	Asset / (Liability) Balance at 9/30/2012			Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)
Interest rate swaps	$	(8.9	)	$	-	$	(8.9	)	$	-
Available-for-sale securities		7.9			7.9		-			-
Deferred compensation plan assets		9.2			-		9.2			-
Supplementary pension plan assets		8.1			-		8.1			-

	Fair Value Measurements Using
Description	Asset / (Liability) Balance at 12/31/2011			Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)
Interest rate swaps	$	(9.0	)	$	-	$	(9.0	)	$	-
Available-for-sale securities		3.8			3.8		-			-
Deferred compensation plan assets		8.0			-		8.0			-
Supplementary pension plan assets		7.6			-		7.6			-

Interest rate swaps are valued using discounted cash flows.  The key input used is the LIBOR swap rate, which is observable at commonly quoted intervals for the full term of the swap.  Available-for-sale securities are valued using quoted market prices.  Deferred compensation and supplemental pension plan assets are valued using quoted prices for similar assets in active markets.

The carrying value of our long-term debt approximates its fair value as the interest rate is near the current market rate yield.  The fair value of our long-term debt is determined using current applicable rates for similar instruments as of the balance sheet date.  The fair value of long-term debt for disclosure purpose is a Level 3 liability within the fair value category.

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INCOME TAXES

9 Months Ended

Sep. 30, 2012

Income Taxes [Abstract]

INCOME TAXES

Note 7: INCOME TAXES

Our effective tax rate for the nine months ended September 30, 2012 and 2011 was 27.8% and 25.4%, respectively.  For both periods, the rate differs from the U.S. federal statutory rate of 35.0% largely due to depletion deductions, changes in tax reserves in 2011, and differences in local tax rates on the income from our foreign subsidiaries.

In the normal course of business, we are subject to examination by taxing authorities throughout the world.  With few exceptions, we are no longer subject to income tax examinations by tax authorities for years prior to 2004.  In general, the United States Internal Revenue Service ("IRS") has examined our federal income tax returns for all years through 2009.

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DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES

9 Months Ended

Sep. 30, 2012

Derivative Instruments and Hedging Activities [Abstract]

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES

Note 8: DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES

As a multinational corporation with operations throughout the world, we are subject to certain market risks. We use a variety of practices to manage these market risks, including, when considered appropriate, derivative financial instruments. We use derivative financial instruments only for risk management and not for trading or speculative purposes.

The following table sets forth the fair values of our derivative instruments and where they are recorded within our condensed consolidated balance sheet:

		Fair Value as of
Liability Derivatives	Balance Sheet Location	September 30, 2012			December 31, 2011
Derivatives designated as hedging instruments:
Interest rate swaps	Other long-term liabilities	$	(8.9	)	$	(9.0	)

Cash flow hedges

	Amount of Gain or (Loss) Recognized in Other Comprehensive Income on Derivatives (Effective Portion)
Derivatives in Cash Flow Hedging Relationships	Nine Months Ended September 30,					Three Months Ended September 30,
	2012		2011			2012		2011
Interest rate swaps, net of tax	$	-	$	(1.6	)	$	-	$	(1.3	)

We use interest rate swaps to manage floating interest rate risk on debt securities.  Interest rate differentials are paid or received on these arrangements over the life of the swap.  As of September 30, 2012 and 2011, we had interest rate swaps outstanding which effectively hedge the variable interest rate on $30.0 of our senior notes to a fixed rate of 5.6% per annum and $33.0 of our borrowings under our revolving credit agreement to a fixed rate of 3.3% per annum, plus credit spread.

Other

We are exposed to potential gains or losses from foreign currency fluctuations affecting net investments and earnings denominated in foreign currencies.  We are particularly sensitive to currency exchange rate fluctuations for the following currencies: Euro, pound sterling (GBP), Polish Zloty (PLN), South African rand (ZAR), Danish kroner (DKK), Swiss franc (SEK), India rupee (INR), Thai baht (THB), Chinese renminbi (CYN), and Malaysian ringgit (MYR).  When considered appropriate, we enter into foreign exchange derivative contracts to mitigate the risk of fluctuations on these exposures.

We have not designated our foreign currency derivative contracts for hedge accounting treatment and therefore, changes in fair value of these contracts are recorded in earnings as follows:

		Amount of Gain or (Loss) Recognized in Income on Derivatives
		Nine Months Ended September 30,					Three Months Ended September 30,
Derivatives Not Designated as Hedging Instruments	Location of Gain or (Loss) Recognized in Income on Derivatives	2012		2011			2012			2011
Foreign currency exchange contracts	Other, net	$	-	$	(0.8	)	$	(0.3	)	$	0.5

We did not have any significant foreign exchange derivative instruments outstanding as of September 30, 2012 or December 31, 2011.

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NONCONTROLLING INTEREST

9 Months Ended

Sep. 30, 2012

Noncontrolling Interest [Abstract]

NONCONTROLLING INTEREST

Note 10: NONCONTROLLING INTEREST

In January 2011, we acquired the remaining noncontrolling interest in Volclay South Africa (Proprietary) Limited, a part of our chromite business, for approximately $5.6. 

In February 2011, we sold 26% of our interest in Batlhako Mining Limited ("Batlhako") to Vengawave (Proprietary) Limited, which is a Black Economic Empowerment enterprise (a "BEE") in the Republic of South Africa.  Batlhako is our subsidiary dedicated strictly to mining chromite ore and selling it to one of our other subsidiaries for further processing and sale to the end customer.  South African law requires that we have a BEE as a partner in our mining operations and this transaction was consummated to comply with those regulations.

The following table sets forth the effects of these transactions on equity attributable to AMCOL's shareholders:

	Nine Months Ended September 30,
	2012		2011
Net income attributable to AMCOL shareholders	$	53.6	$	46.6
Transfers from noncontrolling interest:
Decrease in additional paid-in capital for purchase of the remaining noncontrolling interest in  Volclay South Africa (Proprietary) Limited		-		(5.4	)
Decrease in additional paid-in capital for transfer of 26% interest in Batlhako		-		(3.4	)
Change from net income attributable to AMCOL shareholders and transfers from noncontrolling interest	$	53.6	$	37.8

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CORRECTION OF ERRORS IN PREVIOUSLY REPORTED FINANCIAL STATEMENTS (DETAILS TEXTUAL) (USD $) In Millions, unless otherwise specified	12 Months Ended	3 Months Ended			9 Months Ended	12 Months Ended			3 Months Ended				9 Months Ended	12 Months Ended
	Dec. 31, 2008	Mar. 31, 2012 Income Statement Impact [Member]	Sep. 30, 2011 Income Statement Impact [Member]	Mar. 31, 2011 Income Statement Impact [Member]	Sep. 30, 2011 Income Statement Impact [Member]	Dec. 31, 2011 Income Statement Impact [Member]	Dec. 31, 2010 Income Statement Impact [Member]	Dec. 31, 2009 Income Statement Impact [Member]	Mar. 31, 2012 Comprehensive Income Impact [Member]	Sep. 30, 2011 Comprehensive Income Impact [Member]	Jun. 30, 2011 Comprehensive Income Impact [Member]	Mar. 31, 2011 Comprehensive Income Impact [Member]	Sep. 30, 2011 Comprehensive Income Impact [Member]	Dec. 31, 2011 Comprehensive Income Impact [Member]	Dec. 31, 2010 Comprehensive Income Impact [Member]	Dec. 31, 2009 Comprehensive Income Impact [Member]
Correction of Error in Previously Reported Financial Statement (Textual) [Abstract]
Total/ Reduction in net income (loss)		$ 0.4	$ 0.5	$ 1.1	$ 1.1	$ 0.4	$ 1.8	$ 1.8
Reduction in Total Comprehensive Income									0.3	0.7	0.6	1.0	1.1	0.5	1.8	2.0
Losses in foreign currency translation									0.1	0.2	0.1	0.1		0.1		0.2
Reduction in retained earnings	$ 0.6

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EARNINGS PER SHARE (Tables)

9 Months Ended

Sep. 30, 2012

Earnings Per Share [Abstract]

Reconciliation between basic and diluted earnings per share

The following table provides further share information used in computing our earnings per share for the periods presented herein.  Basic earnings per share was computed by dividing net income attributable to AMCOL shareholders by the weighted average number of common shares outstanding during each period.  Diluted earnings per share was computed by dividing net income attributable to AMCOL shareholders by the weighted average common shares outstanding after consideration of the dilutive effect of stock compensation awards outstanding during each period.

	Nine Months Ended September 30,				Three Months Ended September 30,
	2012		2011		2012		2011
Weighted average number of common shares outstanding		32,024,603		31,671,781		32,071,202		31,799,536
Dilutive impact of stock based compensation		315,636		455,777		381,676		393,922
Weighted average number of common and common equivalent
shares outstanding for the period		32,340,239		32,127,558		32,452,878		32,193,458
Number of common shares outstanding at the end of the period		31,959,139		31,666,904		31,959,139		31,666,904
Weighted average number of anti-dilutive shares excluded from the computation of diluted earnings per share		635,738		186,929		276,753		218,800

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FAIR VALUE MEASUREMENTS (Tables)

9 Months Ended

Sep. 30, 2012

Fair Value Measurements [Abstract]

Summary of fair value instruments

The following tables categorize our fair value instruments, measured on a recurring basis, according to the assumptions used to calculate those values:

	Fair Value Measurements Using
Description	Asset / (Liability) Balance at 9/30/2012			Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)
Interest rate swaps	$	(8.9	)	$	-	$	(8.9	)	$	-
Available-for-sale securities		7.9			7.9		-			-
Deferred compensation plan assets		9.2			-		9.2			-
Supplementary pension plan assets		8.1			-		8.1			-

	Fair Value Measurements Using
Description	Asset / (Liability) Balance at 12/31/2011			Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)
Interest rate swaps	$	(9.0	)	$	-	$	(9.0	)	$	-
Available-for-sale securities		3.8			3.8		-			-
Deferred compensation plan assets		8.0			-		8.0			-
Supplementary pension plan assets		7.6			-		7.6			-

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NONCONTROLLING INTEREST (Details Textual) (USD $) In Millions, unless otherwise specified	9 Months Ended
	Sep. 30, 2011	Sep. 30, 2012 Volclay South Africa (Proprietary) Limited [Member]	Sep. 30, 2012 Vengawave (Proprietary) Limited [Member]
Noncontrolling Interest (Textual) [Abstract]
Remaining noncontrolling interest acquired	$ 5.7	$ 5.6
Percentage of interest sold			26.00%

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EMPLOYEE BENEFITS PLANS (Details Textual) (USD $) In Millions, unless otherwise specified	Sep. 30, 2012	Dec. 31, 2011
Employee Benefit Plans (Textual) [Abstract]
Contribution to defined benefit pension plan	$ 1.3	$ 1.7

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CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (Unaudited) (USD $) In Millions	Total	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Common Stock	Treasury Stock	Paid-in Capital	Noncontrolling Interest
Balance at Dec. 31, 2010	$ 395.1	$ 279.6	$ 28.7	$ 0.3	$ (8.9)	$ 95.1	$ 0.3
Net income (loss)	46.5	46.6					(0.1)
Cash dividends	(17.1)	(17.1)
Issuance of treasury shares pursuant to employee stock compensation plans	6.8				4.8	2.0
Tax benefit from employee stock compensation plans	0.6					0.6
Vesting of common stock in connection with employee stock compensation plans	3.7					3.7
Purchase of noncontrolling interest	(5.7)					(5.4)	(0.3)
Sale of subsidiary shares to noncontrolling interest	0		(1.4)			(3.4)	4.8
Other comprehensive income (loss)	(28.5)		(27.9)				(0.6)
Balance at Sep. 30, 2011	401.4	309.1	(0.6)	0.3	(4.1)	92.6	4.1
Balance at Dec. 31, 2011	396.7	316.4	(15.0)	0.3	(3.4)	94.3	4.1
Net income (loss)	53.4	53.6					(0.2)
Cash dividends	(17.9)	(17.9)
Issuance of treasury shares pursuant to employee stock compensation plans	4.8				2.7	2.1
Tax benefit from employee stock compensation plans	(0.1)					(0.1)
Vesting of common stock in connection with employee stock compensation plans	4.4					4.4
Other comprehensive income (loss)	9.2		9.3				(0.1)
Other	0.1					0.1
Balance at Sep. 30, 2012	$ 450.6	$ 352.1	$ (5.7)	$ 0.3	$ (0.7)	$ 100.8	$ 3.8

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ADDITIONAL BALANCE SHEET INFORMATION

9 Months Ended

Sep. 30, 2012

Summary of Significant Accounting Policies / Additional Balance Sheet Information [Abstract]

ADDITIONAL BALANCE SHEET INFORMATION

Note 4: ADDITIONAL BALANCE SHEET INFORMATION

Our inventories at September 30, 2012 and December 31, 2011 are comprised of the following components:

	September 30, 2012		December 31, 2011
Crude stockpile inventories	$	61.6	$	54.5
In-process and finished goods inventories		71.4		64.4
Other raw material, container, and supplies inventories		27.8		25.9
	$	160.8	$	144.8

We mine various minerals using a surface mining process that requires the removal of overburden.  In certain areas and under various governmental regulations, we are obligated to restore the land comprising each mining site to its original condition at the completion of the mining activity.  We include an estimate of this reclamation liability in our condensed consolidated balance sheets; it is adjusted to reflect the passage of time and changes in estimated future cash outflows.  A reconciliation of the activity within our reclamation liability is as follows:

	Nine Months Ended September 30,
	2012			2011
Balance at beginning of period	$	9.3		$	7.5
Settlement of obligations		(3.1	)		(2.8	)
Liabilities incurred and accretion expense		3.8			4.4
Foreign currency		(0.1	)		(0.3	)
Balance at end of period	$	9.9		$	8.8

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NONCONTROLLING INTEREST (Tables)

9 Months Ended

Sep. 30, 2012

Change from net income and transfers from noncontrolling interest

The following table sets forth the effects of these transactions on equity attributable to AMCOL's shareholders:

	Nine Months Ended September 30,
	2012		2011
Net income attributable to AMCOL shareholders	$	53.6	$	46.6
Transfers from noncontrolling interest:
Decrease in additional paid-in capital for purchase of the remaining noncontrolling interest in  Volclay South Africa (Proprietary) Limited		-		(5.4	)
Decrease in additional paid-in capital for transfer of 26% interest in Batlhako		-		(3.4	)
Change from net income attributable to AMCOL shareholders and transfers from noncontrolling interest	$	53.6	$	37.8

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BUSINESS SEGMENT INFORMATION (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended					9 Months Ended		12 Months Ended
	Sep. 30, 2012	Mar. 31, 2012	Sep. 30, 2011	Jun. 30, 2011	Mar. 31, 2011	Sep. 30, 2012	Sep. 30, 2011	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Segment disclosure
Net sales	$ 253.3	$ 235.6	$ 248.1	$ 243.1	$ 218.6	$ 746.3	$ 709.8	$ 943.8	$ 826.2	$ 688.2
Operating profit (loss)	27.6	21.3	26.6	21.0	19.3	79.9	66.9	87.1	69.2	50.0
Assets	912.8					912.8		850.6	807.8
Depreciation, depletion, and amortization	11.5		11.3			33.3	31.2
Capital expenditures	22.0		19.0			54.2	43.8
Research and development (income) expense	2.6		2.4			7.7	6.6
Minerals and materials [Member]
Segment disclosure
Net sales	121.0		122.3			377.3	356.4
Operating profit (loss)	18.0		19.6			62.0	49.1
Assets	450.3					450.3		431.1
Depreciation, depletion, and amortization	5.0		5.5			14.5	15.5
Capital expenditures	9.9		8.7			20.7	17.8
Research and development (income) expense	1.8		1.6			5.4	4.7
Environmental [Member]
Segment disclosure
Net sales	60.4		71.1			172.8	197.6
Operating profit (loss)	6.6		7.8			13.6	17.9
Assets	173.8					173.8		160.0
Depreciation, depletion, and amortization	1.3		1.5			4.0	4.1
Capital expenditures	1.6		4.6			7.9	6.4
Research and development (income) expense	0.6		0.5			1.8	1.6
Oilfield services [Member]
Segment disclosure
Net sales	69.1		50.2			185.5	140.9
Operating profit (loss)	7.9		5.7			20.4	15.2
Assets	211.5					211.5		194.7
Depreciation, depletion, and amortization	4.4		3.4			12.6	9.5
Capital expenditures	7.8		4.9			20.8	17.8
Research and development (income) expense	0.2		0			0.6	0.2
Transportation [Member]
Segment disclosure
Net sales	10.7		14.8			33.5	42.3
Operating profit (loss)	0.2		0.7			0.7	1.9
Assets	3.1					3.1		3.9
Depreciation, depletion, and amortization	0.1		0.1			0.1	0.1
Capital expenditures	0		0			0	0.2
Intersegment sales [Member]
Segment disclosure
Net sales	(7.9)		(10.3)			(22.8)	(27.4)
Corporate [Member]
Segment disclosure
Operating profit (loss)	(5.1)		(7.2)			(16.8)	(17.2)
Assets	74.1					74.1		60.9
Depreciation, depletion, and amortization	0.7		0.8			2.1	2.0
Capital expenditures	2.7		0.8			4.8	1.6
Research and development (income) expense	$ 0		$ 0.3			$ (0.1)	$ 0.1

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CORRECTION OF ERRORS IN PREVIOUSLY REPORTED FINANCIAL STATEMENTS (Tables)

9 Months Ended

Sep. 30, 2012

Increased (Decreased) Net Income Available to AMCOL Shareholders [Member]

Schedule of error corrections and prior period adjustments

Adjustments by category and increase (decrease) to Net income available to AMCOL sharesholders	Prior to			Twelve Months Ended December 31,									Three Months Ended March 31,
attributable to each category	2009			2009			2010			2011			2012			Total
Spain	$	-		$	(0.8	)	$	(0.6	)	$	(1.1	)	$	(0.3	)	$	(2.8	)
South Africa		-			(0.3	)		-			(0.5	)		-			(0.8	)
Malaysia		-			-			(0.4	)		0.7			-			0.3
DongMing		0.2			0.1			0.2			(0.5	)		-			-
Tax		(0.5	)		0.1			(1.2	)		1.5			0.3			0.2
Other		(0.3	)		(0.7	)		0.6			0.4			0.4			0.4
Total	$	(0.6	)	$	(1.6	)	$	(1.4	)	$	0.5		$	0.4		$	(2.7	)

Condensed Consolidated Statements of Operations [Member]

Schedule of error corrections and prior period adjustments

The effect of correcting these errors on our condensed consolidated statements of operations for our years ended December 31, 2009, 2010 and 2011 is as follows:

	Year Ended December 31, 2009
	Previously Reported			Adjustments																		As Adjusted
				Spain			South Africa			DongMing			Tax			Other			Total
Continuing Operations
Net sales	$	691.9		$	-		$	-		$	-		$	-		$	(3.7	)	$	(3.7	)	$	688.2
Cost of sales		505.6			0.7			0.5									(3.8	)		(2.6	)		503.0
Gross profit		186.3			(0.7	)		(0.5	)		-			-			0.1			(1.1	)		185.2
Selling, general and administrative expenses		133.4			0.3			0.1			(0.1	)					1.5			1.8			135.2
Operating profit		52.9			(1.0	)		(0.6	)		0.1			-			(1.4	)		(2.9	)		50.0
Other income (expense):
Interest expense, net		(12.2	)														0.2			0.2			(12.0	)
Other, net		(0.9	)														0.6			0.6			(0.3	)
		(13.1	)		-			-			-			-			0.8			0.8			(12.3	)
Income before income taxes and income (loss) from affiliates and joint ventures		39.8			(1.0	)		(0.6	)		0.1			-			(0.6	)		(2.1	)		37.7
Income tax expense (benefit)		5.3			(0.2	)		(0.1	)		-			(0.1	)		-			(0.4	)		4.9
Income before income (loss) from affiliates and joint ventures		34.5			(0.8	)		(0.5	)		0.1			0.1			(0.6	)		(1.7	)		32.8
Income (loss) from affiliates and joint ventures		0.1															(0.1	)		(0.1	)		-
Income (loss) from continuing operations		34.6			(0.8	)		(0.5	)		0.1			0.1			(0.7	)		(1.8	)		32.8
Discontinued Operations
Income (loss) on discontinued operations		0.3															-			-			0.3
Net income (loss)		34.9			(0.8	)		(0.5	)		0.1			0.1			(0.7	)		(1.8	)		33.1
Net income (loss) attributable to noncontrolling interests		0.1						(0.2	)								-			(0.2	)		(0.1	)
Net income (loss) attributable to AMCOL shareholders	$	34.8		$	(0.8	)	$	(0.3	)	$	0.1		$	0.1		$	(0.7	)	$	(1.6	)	$	33.2
Weighted average common shares outstanding		30.8																		30.8			30.8
Weighted average common and common equivalent shares outstanding		31.0																		31.0			31.0
Amounts attributable to AMCOL shareholders
Income from continuing operations, net of tax	$	34.5																	$	(1.6	)	$	32.9
Discontinued operations, net of tax		0.3																		-			0.3
Net income	$	34.8																	$	(1.6	)	$	33.2
Earnings per share attributable to AMCOL shareholders:
Basic earnings (loss) per share:
Continuing operations	$	1.12																	$	(0.05	)	$	1.07
Discontinued operations		0.01																		-			0.01
Net income	$	1.13																	$	(0.05	)	$	1.08
Diluted earnings (loss) per share:
Continuing operations	$	1.11																	$	(0.05	)	$	1.06
Discontinued operations		0.01																		-			0.01
Net income	$	1.12																	$	(0.05	)	$	1.07

	Year Ended December 31, 2010
	Previously Reported			Adjustments																					As Adjusted
				Spain			South Africa			Malaysia			DongMing			Tax			Other			Total
Continuing Operations
Net sales	$	841.0		$	-		$	-		$	(0.6	)	$	-		$	-		$	(14.2	)	$	(14.8	)	$	826.2
Cost of sales		624.1			0.6															(12.7	)		(12.1	)		612.0
Gross profit		216.9			(0.6	)		-			(0.6	)		-			-			(1.5	)		(2.7	)		214.2
Selling, general and administrative expenses		146.9						(0.1	)					(0.3	)					(1.5	)		(1.9	)		145.0
Operating profit		70.0			(0.6	)		0.1			(0.6	)		0.3			-			(0.0	)		(0.8	)		69.2
Other income (expense):
Interest expense, net		(9.7	)																	0.1			0.1			(9.6	)
Other, net		1.2																		0.1			0.1			1.3
		(8.5	)		-			-			-			-			-			0.2			0.2			(8.3	)
Income before income taxes and income (loss) from affiliates and joint ventures		61.5			(0.6	)		0.1			(0.6	)		0.3			-			0.2			(0.6	)		60.9
Income tax expense (benefit)		19.4						0.1			(0.2	)		0.1			1.2			0.2			1.4			20.8
Income before income (loss) from affiliates and joint ventures		42.1			(0.6	)		-			(0.4	)		0.2			(1.2	)		(0.0	)		(2.0	)		40.1
Income (loss) from affiliates and joint ventures		(11.3	)																	0.2			0.2			(11.1	)
Income (loss) from continuing operations		30.8			(0.6	)		-			(0.4	)		0.2			(1.2	)		0.2			(1.8	)		29.0
Discontinued Operations
Income (loss) on discontinued operations		(0.9	)																	-			-			(0.9	)
Net income (loss)		29.9			(0.6	)		-			(0.4	)		0.2			(1.2	)		0.2			(1.8	)		28.1
Net income (loss) attributable to noncontrolling interests		(0.4	)																	(0.4	)		(0.4	)		(0.8	)
Net income (loss) attributable to AMCOL shareholders	$	30.3		$	(0.6	)	$	-		$	(0.4	)	$	0.2		$	(1.2	)	$	0.6		$	(1.4	)	$	28.9
Weighted average common shares outstanding		31.2																					31.2			31.2
Weighted average common and common equivalent shares outstanding		31.5																					31.5			31.5
Amounts attributable to AMCOL shareholders
Income from continuing operations, net of tax	$	31.2																				$	(1.4	)	$	29.8
Discontinued operations, net of tax		(0.9	)																				-			(0.9	)
Net income	$	30.3																				$	(1.4	)	$	28.9
Earnings per share attributable to AMCOL shareholders:
Basic earnings (loss) per share:
Continuing operations	$	1.00																				$	(0.04	)	$	0.96
Discontinued operations		(0.03	)																				-			(0.03	)
Net income	$	0.97																				$	(0.04	)	$	0.93
Diluted earnings (loss) per share:
Continuing operations	$	0.99																				$	(0.04	)	$	0.95
Discontinued operations		(0.03	)																				-			(0.03	)
Net income	$	0.96																				$	(0.04	)	$	0.92

	Year Ended December 31, 2011
	Previously Reported			Adjustments																					As Adjusted
				Spain			South Africa			Malaysia			DongMing			Tax			Other			Total
Continuing Operations
Net sales	$	942.4		$	-		$	-		$	0.6		$	-		$	-		$	0.8		$	1.4		$	943.8
Cost of sales		689.5			1.2			0.3			-			-			-			(0.1	)		1.4			690.9
Gross profit		252.9			(1.2	)		(0.3	)		0.6			-			-			0.9			-			252.9
Selling, general and administrative expenses		165.2			0.1			-			(0.2	)		0.7			-			-			0.6			165.8
Operating profit		87.7			(1.3	)		(0.3	)		0.8			(0.7	)		-			0.9			(0.6	)		87.1
Other income (expense):
Interest expense, net		(11.5	)		-			-			-			-			-			0.2			0.2			(11.3	)
Other, net		0.2			-			-			-			-			-			-			-			0.2
		(11.3	)		-			-			-			-			-			0.2			0.2			(11.1	)
Income before income taxes and income (loss) from affiliates and joint ventures		76.4			(1.3	)		(0.3	)		0.8			(0.7	)		-			1.1			(0.4	)		76.0
Income tax expense (benefit)		21.8			(0.2	)		0.3			0.1			(0.2	)		(1.8	)		0.5			(1.3	)		20.5
Income before income (loss) from affiliates and joint ventures		54.6			(1.1	)		(0.6	)		0.7			(0.5	)		1.8			0.6			0.9			55.5
Income (loss) from affiliates and joint ventures		5.5												-			(0.3	)		0.1			(0.2	)		5.3
Income (loss) from continuing operations		60.1			(1.1	)		(0.6	)		0.7			(0.5	)		1.5			0.7			0.7			60.8
Discontinued Operations
Income (loss) on discontinued operations		(0.9	)																	(0.3	)		(0.3	)		(1.2	)
Net income (loss)		59.2			(1.1	)		(0.6	)		0.7			(0.5	)		1.5			0.4			0.4			59.6
Net income (loss) attributable to noncontrolling interests		0.1			-			(0.1	)		-			-			-			-			(0.1	)		-
Net income (loss) attributable to AMCOL shareholders	$	59.1		$	(1.1	)	$	(0.5	)	$	0.7		$	(0.5	)	$	1.5		$	0.4		$	0.5		$	59.6
Weighted average common shares outstanding		31.7																					31.7			31.7
Weighted average common and common equivalent shares outstanding		32.1																					32.1			32.1
Amounts attributable to AMCOL shareholders
Income from continuing operations, net of tax	$	60.0																				$	0.8		$	60.8
Discontinued operations, net of tax		(0.9	)																				(0.3	)		(1.2	)
Net income	$	59.1																				$	0.5		$	59.6
Earnings per share attributable to AMCOL shareholders:
Basic earnings (loss) per share:
Continuing operations	$	1.89																				$	0.03		$	1.92
Discontinued operations		(0.03	)																				(0.01	)		(0.04	)
Net income	$	1.86																				$	0.02		$	1.88
Diluted earnings (loss) per share:
Continuing operations	$	1.87																				$	0.02		$	1.89
Discontinued operations		(0.03	)																				(0.01	)		(0.04	)
Net income	$	1.84																				$	0.01		$	1.85

The effect of correcting these errors in our condensed consolidated statements of operations for each of the three months ended March 31, June 30 and September 30, 2011 is as follows:

	Quarter Ended March 31, 2011
	Previously Reported			Adjustments																			As Adjusted
				Spain			South Africa			Malaysia		DongMing		Tax			Other			Total
Continuing Operations
Net sales	$	217.8		$	-		$	-		$	0.6	$	-	$	-		$	0.2		$	0.8		$	218.6
Cost of sales		160.1			0.3			0.1										(0.3	)		0.1			160.2
Gross profit		57.7			(0.3	)		(0.1	)		0.6		-		-			0.5			0.7			58.4
Selling, general and administrative expenses		39.1																-						39.1
Operating profit		18.6			(0.3	)		(0.1	)		0.6		-		-			0.5			0.7			19.3
Other income (expense):
Interest expense, net		(2.7	)															0.1			0.1			(2.6	)
Other, net		(0.4	)															-						(0.4	)
		(3.1	)		-			-			-		-		-			0.1			0.1			(3.0	)
Income before income taxes and income (loss) from affiliates and joint ventures		15.5			(0.3	)		(0.1	)		0.6		-		-			0.6			0.8			16.3
Income tax expense (benefit)		4.3						0.1			0.1				(0.5	)		(0.1	)		(0.4	)		3.9
Income before income (loss) from affiliates and joint ventures		11.2			(0.3	)		(0.2	)		0.5		-		0.5			0.7			1.2			12.4
Income (loss) from affiliates and joint ventures		1.1													(0.1	)		-			(0.1	)		1.0
Income (loss) from continuing operations		12.3			(0.3	)		(0.2	)		0.5		-		0.4			0.7			1.1			13.4
Discontinued Operations
Income (loss) on discontinued operations		(0.1	)															-						(0.1	)
Net income (loss)		12.2			(0.3	)		(0.2	)		0.5		-		0.4			0.7			1.1			13.3
Net income (loss) attributable to noncontrolling interests		-																-						-
Net income (loss) attributable to AMCOL shareholders	$	12.2		$	(0.3	)	$	(0.2	)	$	0.5	$	-	$	0.4		$	0.7		$	1.1		$	13.3
Weighted average common shares outstanding		31.5																			31.5			31.5
Weighted average common and common equivalent shares outstanding		32.0																			32.0			32.0
Amounts attributable to AMCOL shareholders
Income from continuing operations, net of tax	$	12.3																		$	1.1		$	13.4
Discontinued operations, net of tax		(0.1	)																		-			(0.1	)
Net income	$	12.2																		$	1.1		$	13.3
Earnings per share attributable to AMCOL shareholders:
Basic earnings (loss) per share:
Continuing operations	$	0.39																		$	0.03		$	0.42
Discontinued operations		-																			-			-
Net income	$	0.39																		$	0.03		$	0.42
Diluted earnings (loss) per share:
Continuing operations	$	0.38																		$	0.04		$	0.42
Discontinued operations		-																			-			-
Net income	$	0.38																		$	0.04		$	0.42

	Quarter Ended June 30, 2011
	Previously Reported			Adjustments																			As Adjusted
				Spain			South Africa			Malaysia		DongMing			Tax		Other			Total
Continuing Operations
Net sales	$	242.8		$	-		$	-		$	-	$	-		$	-	$	0.3		$	0.3		$	243.1
Cost of sales		180.7			0.3			0.1										-			0.4			181.1
Gross profit		62.1			(0.3	)		(0.1	)		-		-			-		0.3			(0.1	)		62.0
Selling, general and administrative expenses		40.3											0.7					-			0.7			41.0
Operating profit		21.8			(0.3	)		(0.1	)		-		(0.7	)		-		0.3			(0.8	)		21.0
Other income (expense):
Interest expense, net		(2.8	)															0.1			0.1			(2.7	)
Other, net		0.5																-						0.5
		(2.3	)		-			-			-		-			-		0.1			0.1			(2.2	)
Income before income taxes and income (loss) from
affiliates and joint ventures		19.5			(0.3	)		(0.1	)		-		(0.7	)		-		0.4			(0.7	)		18.8
Income tax expense (benefit)		5.9						0.1					(0.2	)				(0.1	)		(0.2	)		5.7
Income before income (loss) from affiliates and
joint ventures		13.6			(0.3	)		(0.2	)		-		(0.5	)		-		0.5			(0.5	)		13.1
Income (loss) from affiliates and joint ventures		(0.1	)															-						(0.1	)
Income (loss) from continuing operations		13.5			(0.3	)		(0.2	)		-		(0.5	)		-		0.5			(0.5	)		13.0
Discontinued Operations
Income (loss) on discontinued operations		0.2																-						0.2
Net income (loss)		13.7			(0.3	)		(0.2	)		-		(0.5	)		-		0.5			(0.5	)		13.2
Net income (loss) attributable to noncontrolling interests		-																-						-
Net income (loss) attributable to AMCOL shareholders	$	13.7		$	(0.3	)	$	(0.2	)	$	-	$	(0.5	)	$	-	$	0.5		$	(0.5	)	$	13.2
Weighted average common shares outstanding		31.7																			31.7			31.7
Weighted average common and common equivalent shares outstanding		32.2																			32.2			32.2
Amounts attributable to AMCOL shareholders
Income from continuing operations, net of tax	$	13.5																		$	(0.5	)	$	13.0
Discontinued operations, net of tax		0.2																			-			0.2
Net income	$	13.7																		$	(0.5	)	$	13.2
Earnings per share attributable to AMCOL shareholders:
Basic earnings (loss) per share:
Continuing operations	$	0.42																		$	(0.01	)	$	0.41
Discontinued operations		0.01																			-			0.01
Net income	$	0.43																		$	(0.01	)	$	0.42
Diluted earnings (loss) per share:
Continuing operations	$	0.42																		$	(0.02	)	$	0.40
Discontinued operations		0.01																			-			0.01
Net income	$	0.43																		$	(0.02	)	$	0.41

	Quarter Ended September 30, 2011
	Previously Reported			Adjustments																			As Adjusted
				Spain			South Africa			Malaysia		DongMing		Tax			Other			Total
Continuing Operations
Net sales	$	248.1		$	-		$	-		$	-	$	-	$	-		$	-		$	-		$	248.1
Cost of sales		177.1			0.3			0.1										-			0.4			177.5
Gross profit		71.0			(0.3	)		(0.1	)		-		-		-			-			(0.4	)		70.6
Selling, general and administrative expenses		43.9																0.1			0.1			44.0
Operating profit		27.1			(0.3	)		(0.1	)		-		-		-			(0.1	)		(0.5	)		26.6
Other income (expense):
Interest expense, net		(2.8	)															-						(2.8	)
Other, net		(0.1	)															(0.1	)		(0.1	)		(0.2	)
		(2.9	)		-			-			-		-		-			(0.1	)		(0.1	)		(3.0	)
Income before income taxes and income (loss) from affiliates and joint ventures		24.2			(0.3	)		(0.1	)		-		-		-			(0.2	)		(0.6	)		23.6
Income tax expense (benefit)		6.7						0.1							(1.4	)		(0.1	)		(1.4	)		5.3
Income before income (loss) from affiliates and joint ventures		17.5			(0.3	)		(0.2	)		-		-		1.4			(0.1	)		0.8			18.3
Income (loss) from affiliates and joint ventures		3.0																-						3.0
Income (loss) from continuing operations		20.5			(0.3	)		(0.2	)		-		-		1.4			(0.1	)		0.8			21.3
Discontinued Operations
Income (loss) on discontinued operations		(1.0	)															(0.3	)		(0.3	)		(1.3	)
Net income (loss)		19.5			(0.3	)		(0.2	)		-		-		1.4			(0.4	)		0.5			20.0
Net income (loss) attributable to noncontrolling interests		-						(0.1	)									-			(0.1	)		(0.1	)
Net income (loss) attributable to AMCOL shareholders	$	19.5		$	(0.3	)	$	(0.1	)	$	-	$	-	$	1.4		$	(0.4	)	$	0.6		$	20.1
Weighted average common shares outstanding		31.8																			31.8			31.8
Weighted average common and common equivalent shares outstanding		32.2																			32.2			32.2
Amounts attributable to AMCOL shareholders
Income from continuing operations, net of tax	$	20.5																		$	0.9		$	21.4
Discontinued operations, net of tax		(1.0	)																		(0.3	)		(1.3	)
Net income	$	19.5																		$	0.6		$	20.1
Earnings per share attributable to AMCOL shareholders:
Basic earnings (loss) per share:
Continuing operations	$	0.64																		$	0.03		$	0.67
Discontinued operations		(0.03	)																		(0.01	)		(0.04	)
Net income	$	0.61																		$	0.02		$	0.63
Diluted earnings (loss) per share:
Continuing operations	$	0.64																		$	0.02		$	0.66
Discontinued operations		(0.03	)																		(0.01	)		(0.04	)
Net income	$	0.61																		$	0.01		$	0.62

The effect of correcting these errors in our condensed consolidated statement of operations for the nine months ended September 30, 2011 is as follows:

	Nine Months Ended Sep 30, 2011
	Previously Reported			Adjustments																				As Adjusted
				Spain			South Africa			Malaysia		DongMing			Tax			Other			Total
Continuing Operations
Net sales	$	708.7		$	-		$	-		$	0.6	$	-		$	-		$	0.5		$	1.1		$	709.8
Cost of sales		517.9			0.9			0.3			-		-			-			(0.3	)		0.9			518.8
Gross profit		190.8			(0.9	)		(0.3	)		0.6		-			-			0.8			0.2			191.0
Selling, general and administrative expenses		123.3			-			-			-		0.7			-			0.1			0.8			124.1
Operating profit		67.5			(0.9	)		(0.3	)		0.6		(0.7	)		-			0.7			(0.6	)		66.9
Other income (expense):
Interest expense, net		(8.3	)		-			-			-		-			-			0.2			0.2			(8.1	)
Other, net		-			-			-			-		-			-			(0.1	)		(0.1	)		(0.1	)
		(8.3	)		-			-			-		-			-			0.1			0.1			(8.2	)
Income before income taxes and income (loss) from affiliates and joint ventures		59.2			(0.9	)		(0.3	)		0.6		(0.7	)		-			0.8			(0.5	)		58.7
Income tax expense (benefit)		16.9			-			0.3			0.1		(0.2	)		(1.9	)		(0.3	)		(2.0	)		14.9
Income before income (loss) from affiliates and joint ventures		42.3			(0.9	)		(0.6	)		0.5		(0.5	)		1.9			1.1			1.5			43.8
Income (loss) from affiliates and joint ventures		4.0			-			-			-		-			(0.1	)		-			(0.1	)		3.9
Income (loss) from continuing operations		46.3			(0.9	)		(0.6	)		0.5		(0.5	)		1.8			1.1			1.4			47.7
Discontinued Operations
Income (loss) on discontinued operations		(0.9	)		-			-			-		-			-			(0.3	)		(0.3	)		(1.2	)
Net income (loss)		45.4			(0.9	)		(0.6	)		0.5		(0.5	)		1.8			0.8			1.1			46.5
Net income (loss) attributable to noncontrolling interests		-			-			(0.1	)		-		-			-			-			(0.1	)		(0.1	)
Net income (loss) attributable to AMCOL shareholders	$	45.4		$	(0.9	)	$	(0.5	)	$	0.5	$	(0.5	)	$	1.8		$	0.8		$	1.2		$	46.6
Weighted average common shares outstanding		31.7																				31.7			31.7
Weighted average common and common equivalent shares outstanding		32.1																				32.1			32.1
Amounts attributable to AMCOL shareholders
Income from continuing operations, net of tax	$	46.3																			$	1.5		$	47.8
Discontinued operations, net of tax		(0.9	)																			(0.3	)		(1.2	)
Net income	$	45.4																			$	1.2		$	46.6
Earnings per share attributable to AMCOL shareholders:
Basic earnings (loss) per share:
Continuing operations	$	1.46																			$	0.05		$	1.51
Discontinued operations		(0.03	)																			(0.01	)		(0.04	)
Net income	$	1.43																			$	0.04		$	1.47
Diluted earnings (loss) per share:
Continuing operations	$	1.44																			$	0.05		$	1.49
Discontinued operations		(0.03	)																			(0.01	)		(0.04	)
Net income	$	1.41																			$	0.04		$	1.45

The effect of correcting these errors in our condensed consolidated statement of operations for the three months ended March 31, 2012 is as follows:

	Quarter Ended March 31, 2012
	Previously Reported			Adjustments																	As Adjusted
				Spain			South Africa			Malaysia		Tax			Other			Total
Continuing Operations
Net sales	$	235.8		$	-		$	-		$	-	$	-		$	(0.2	)	$	(0.2	)	$	235.6
Cost of sales		170.7			0.4			0.1								(0.2	)		0.3			171.0
Gross profit		65.1			(0.4	)		(0.1	)		-		-			-			(0.5	)		64.6
Selling, general and administrative expenses		43.6			(0.2	)										(0.1	)		(0.3	)		43.3
Operating profit		21.5			(0.2	)		(0.1	)		-		-			0.1			(0.2	)		21.3
Other income (expense):
Interest expense, net		(2.7	)													-						(2.7	)
Other, net		(2.1	)													(0.1	)		(0.1	)		(2.2	)
		(4.8	)		-			-			-		-			(0.1	)		(0.1	)		(4.9	)
Income before income taxes and income (loss) from affiliates and joint ventures		16.7			(0.2	)		(0.1	)		-		-			-			(0.3	)		16.4
Income tax expense (benefit)		4.8			0.1			(0.1	)				(0.3	)		(0.2	)		(0.5	)		4.3
Income before income (loss) from affiliates and
joint ventures		11.9			(0.3	)		-			-		0.3			0.2			0.2			12.1
Income (loss) from affiliates and joint ventures		1.2														-						1.2
Income (loss) from continuing operations		13.1			(0.3	)		-			-		0.3			0.2			0.2			13.3
Discontinued Operations
Income (loss) on discontinued operations		(0.2	)													0.2			0.2			-
Net income (loss)		12.9			(0.3	)		-			-		0.3			0.4			0.4			13.3
Net income (loss) attributable to noncontrolling interests		0.1														-						0.1
Net income (loss) attributable to AMCOL shareholders	$	12.8		$	(0.3	)	$	-		$	-	$	0.3		$	0.4		$	0.4		$	13.2
Weighted average common shares outstanding		32.0																	32.0			32.0
Weighted average common and common equivalent shares outstanding		32.3																	32.3			32.3
Amounts attributable to AMCOL shareholders
Income from continuing operations, net of tax	$	13.0																$	0.2		$	13.2
Discontinued operations, net of tax		(0.2	)																0.2			-
Net income	$	12.8																$	0.4		$	13.2
Earnings per share attributable to AMCOL shareholders:
Basic earnings (loss) per share:
Continuing operations	$	0.41																$	-		$	0.41
Discontinued operations		(0.01	)																0.01			-
Net income	$	0.40																$	0.01		$	0.41
Diluted earnings (loss) per share:
Continuing operations	$	0.41																$	-		$	0.41
Discontinued operations		(0.01	)																0.01			-
Net income	$	0.40																$	0.01		$	0.41

Condensed Consolidated Balance Sheets [Member]

Schedule of error corrections and prior period adjustments

The effect of correcting these errors in our condensed consolidated balance sheets as of December 31, 2010 and 2011 is as follows:

	December 31, 2010
ASSETS	Previously Reported		Adjustments																		As Adjusted
			Spain			South Africa		Malaysia			DongMing		Tax		Other			Total
Current assets:
Cash and cash equivalents	$	27.3	$	-		$	-	$	-		$	-	$	-	$	(0.5	)	$	(0.5	)	$	26.8
Accounts receivable, net		194.0		(0.4	)				(1.1	)						(2.4	)		(3.9	)		190.1
Inventories		107.5		(1.0	)											(0.9	)		(1.9	)		105.6
Prepaid expenses		12.6														0.4			0.4			13.0
Deferred income taxes		5.5														-						5.5
Income tax receivable		8.5														-						8.5
Other		6.2														-						6.2
Total current assets		361.6		(1.4	)		-		(1.1	)		-		-		(3.4	)		(5.9	)		355.7
Noncurrent assets:
Property, plant, equipment, and mineral rights and reserves:
Land		11.6														(0.7	)		(0.7	)		10.9
Mineral rights		51.4					13.6									-			13.6			65.0
Depreciable assets		454.4														(2.1	)		(2.1	)		452.3
		517.4		-			13.6		-			-		-		(2.8	)		10.8			528.2
Less: accumulated depreciation and depletion		256.9														(0.2	)		(0.2	)		256.7
		260.5		-			13.6		-			-		-		(2.6	)		11.0			271.5
Goodwill		70.9																				70.9
Intangible assets, net		42.6														(0.7	)		(0.7	)		41.9
Investment in and advances to affiliates and joint ventures		19.0														1.9			1.9			20.9
Available-for-sale securities		14.2														-						14.2
Deferred income taxes		7.6					1.6									-			1.6			9.2
Other assets		22.7							0.5							0.3			0.8			23.5
																-
Total noncurrent assets		437.5		-			15.2		0.5			-		-		(1.1	)		14.6			452.1
Total Assets	$	799.1	$	(1.4	)	$	15.2	$	(0.6	)	$	-	$	-	$	(4.5	)	$	8.7		$	807.8

	December 31, 2010
LIABILITIES AND SHAREHOLDERS' EQUITY	Previously Reported			Adjustments																					As Adjusted
				Spain			South Africa			Malaysia			DongMing			Tax			Other			Total
Current liabilities:
Accounts payable	$	53.2		$	-		$	-		$	-		$	(0.7	)				$	(1.1	)	$	(1.8	)	$	51.4
Accrued income taxes		4.1			(0.1	)					(0.2	)		0.2			1.2			(0.1	)		1.0			5.1
Accrued liabilities		55.2			0.1															(0.1	)					55.2
Total current liabilities		112.5			-			-			(0.2	)		(0.5	)		1.2			(1.3	)		(0.8	)		111.7
Noncurrent liabilities:
Long-term debt		236.2																		(0.5	)		(0.5	)		235.7
Pension liabilities		21.3																		-						21.3
Deferred compensation		8.7																		0.3			0.3			9.0
Deferred income tax		0.4						15.8									0.4			-			16.2			16.6
Other long-term liabilities		19.6																		(1.2	)		(1.2	)		18.4
Total noncurrent liabilities		286.2			-			15.8			-			-			0.4			(1.4	)		14.8			301.0
Shareholders' Equity:
Common stock		0.3																		-						0.3
Additional paid in capital		95.1																		-						95.1
Retained earnings		283.2			(1.4	)		(0.3	)		(0.4	)		0.5			(1.6	)		(0.4	)		(3.6	)		279.6
Accumulated other comprehensive income (loss)		28.9						(0.1	)											(0.1	)		(0.2	)		28.7
Less: Treasury stock		(8.9	)																	-						(8.9	)
Total AMCOL shareholders' equity		398.6			(1.4	)		(0.4	)		(0.4	)		0.5			(1.6	)		(0.5	)		(3.8	)		394.8
Noncontrolling interest		1.8						(0.2	)											(1.3	)		(1.5	)		0.3
Total equity		400.4			(1.4	)		(0.6	)		(0.4	)		0.5			(1.6	)		(1.8	)		(5.3	)		395.1
Total Liabilities and Shareholders' Equity	$	799.1		$	(1.4	)	$	15.2		$	(0.6	)	$	-		$	-		$	(4.5	)	$	8.7		$	807.8

	December 31, 2011
ASSETS	Previously Reported		Adjustments																		As Adjusted
			Spain			South Africa		Malaysia			DongMing		Tax		Other			Total
Current assets:
Cash and cash equivalents	$	23.7	$	-		$	-	$	-		$	-	$	-	$	-					$	23.7
Accounts receivable, net		206.8		(1.6	)				(0.7	)						0.3			(2.0	)		204.8
Inventories		146.6		(1.8	)		0.2									(0.2	)		(1.8	)		144.8
Prepaid expenses		15.7														-						15.7
Deferred income taxes		5.9														-						5.9
Income tax receivable		6.9														-						6.9
Other		6.7														(0.6	)		(0.6	)		6.1
Total current assets		412.3		(3.4	)		0.2		(0.7	)		-		-		(0.5	)		(4.4	)		407.9
Noncurrent assets:
Property, plant, equipment, and mineral rights and reserves:
Land		13.9																				13.9
Mineral rights		41.9					10.6									-			10.6			52.5
Depreciable assets		482.3														0.3			0.3			482.6
		538.1		-			10.6		-			-		-		0.3			10.9			549.0
Less: accumulated depreciation and depletion		275.5														-						275.5
		262.6		-			10.6		-			-		-		0.3			10.9			273.5
Goodwill		69.5																				69.5
Intangible assets, net		36.6														-						36.6
Investment in and advances to affiliates and joint ventures		26.4														-						26.4
Available-for-sale securities		3.8														-						3.8
Deferred income taxes		7.8					0.7									-			0.7			8.5
Other assets		23.7							0.7							-			0.7			24.4
																-
Total noncurrent assets		430.4		-			11.3		0.7			-		-		0.3			12.3			442.7
Total Assets	$	842.7	$	(3.4	)	$	11.5	$	-		$	-	$	-	$	(0.2	)	$	7.9		$	850.6

	December 31, 2011
LIABILITIES AND SHAREHOLDERS' EQUITY	Previously Reported			Adjustments																				As Adjusted
				Spain			South Africa			Malaysia			DongMing		Tax			Other			Total
Current liabilities:
Accounts payable	$	56.4		$	-		$	-		$	-		$	-	$	-		$	0.1		$	0.1		$	56.5
Accrued income taxes		2.7			(0.3	)		0.1								0.1			(0.2	)		(0.3	)		2.4
Accrued liabilities		59.0			(0.8	)					(0.3	)							-			(1.1	)		57.9
Total current liabilities		118.1			(1.1	)		0.1			(0.3	)		-		0.1			(0.1	)		(1.3	)		116.8
Noncurrent liabilities:
Long-term debt		260.7																	-						260.7
Pension liabilities		34.8																	-						34.8
Deferred compensation		8.9																	-						8.9
Deferred income tax		0.8						12.6											0.1			12.7			13.5
Other long-term liabilities		19.2																	-						19.2
Total noncurrent liabilities		324.4			-			12.6			-			-		-			0.1			12.7			337.1
Shareholders' Equity:
Common stock		0.3																	-						0.3
Additional paid in capital		94.5						(0.2	)										-			(0.2	)		94.3
Retained earnings		319.5			(2.5	)		(0.9	)		0.3			-		(0.1	)		0.1			(3.1	)		316.4
Accumulated other comprehensive income (loss)		(14.9	)		0.2														(0.3	)		(0.1	)		(15.0	)
Less: Treasury stock		(3.4	)																-						(3.4	)
Total AMCOL shareholders' equity		396.0			(2.3	)		(1.1	)		0.3			-		(0.1	)		(0.2	)		(3.4	)		392.6
Noncontrolling interest		4.2						(0.1	)										-			(0.1	)		4.1
Total equity		400.2			(2.3	)		(1.2	)		0.3			-		(0.1	)		(0.2	)		(3.5	)		396.7
Total Liabilities and Shareholders' Equity	$	842.7		$	(3.4	)	$	11.5		$	-		$	-	$	-		$	(0.2	)	$	7.9		$	850.6

Condensed Consolidated Statements of Cash Flows [Member]

Schedule of error corrections and prior period adjustments

The correction of these errors had no effect on the previously reported amounts of operating, investing, and financing cash flows in our condensed consolidated statement of cash flows for the year ended December 31, 2009.  The effect of correcting these errors in our condensed consolidated statements of cash flows for the years ended December 31, 2010 and 2011 is as follows:

	Year Ended December 31, 2010
	Previously Reported			Adjustments			As Adjusted
Net cash provided by (used in) operating activities	$	48.1		$	0.1		$	48.2
Net cash (used in) investing activities		(48.1	)		(0.6	)		(48.7	)
Net cash provided by (used in) financing activities		(0.8	)		-			(0.8	)
Effect of foreign currency rate changes on cash		0.4			-			0.4
Net increase (decrease) in cash and cash equivalents		(0.4	)		(0.5	)		(0.9	)
Cash and cash equivalents at beginning of period		27.7			-			27.7
Cash and cash equivalents at end of period	$	27.3		$	(0.5	)	$	26.8

	Year Ended December 31, 2011
	Previously reported			Adjustments			As Adjusted
Net cash provided by (used in) operating activities	$	38.6		$	0.2		$	38.8
Net cash (used in) investing activities		(54.7	)		0.5			(54.2	)
Net cash provided by (used in) financing activities		11.6			(0.2	)		11.4
Effect of foreign currency rate changes on cash		0.9			-			0.9
Net increase (decrease) in cash and cash equivalents		(3.6	)		0.5			(3.1	)
Cash and cash equivalents at beginning of period		27.3			(0.5	)		26.8
Cash and cash equivalents at end of period	$	23.7		$	-		$	23.7

The effect of correcting these errors in our condensed consolidated statements of cash flows for the three months ended March 31, 2011, six months ended June 30, 2011, and nine months ended September 30, 2011 is as follows:

	Three Months Ended March 31, 2011									Six Months Ended June 30, 2011
	Previously Reported			Adjustments			As Adjusted			Previously Reported			Adjustments			As Adjusted
Net cash provided by (used in) operating activities	$	10.3		$	-		$	10.3		$	13.9		$	0.1		$	14.0
Net cash (used in) investing activities		(10.3	)		0.5			(9.8	)		(24.4	)		0.5			(23.9	)
Net cash provided by (used in) financing activities		(6.3	)		-			(6.3	)		0.4			(0.1	)		0.3
Effect of foreign currency rate changes on cash		0.2			-			0.2			0.7			-			0.7
Net increase (decrease) in cash and cash equivalents		(6.1	)		0.5			(5.6	)		(9.4	)		0.5			(8.9	)
Cash and cash equivalents at beginning of period		27.3			(0.5	)		26.8			27.3			(0.5	)		26.8
Cash and cash equivalents at end of period	$	21.2		$	-		$	21.2		$	17.9		$	-		$	17.9

	Nine Months Ended September 30, 2011
	Previously reported			Adjustments			As Adjusted
Net cash provided by (used in) operating activities	$	16.6		$	0.1		$	16.7
Net cash (used in) investing activities		(40.9	)		0.5			(40.4	)
Net cash provided by (used in) financing activities		5.5			(0.1	)		5.4
Effect of foreign currency rate changes on cash		0.8			-			0.8
Net increase (decrease) in cash and cash equivalents		(18.0	)		0.5			(17.5	)
Cash and cash equivalents at beginning of period		27.3			(0.5	)		26.8
Cash and cash equivalents at end of period	$	9.3		$	-		$	9.3

The effect of correcting these errors in our condensed consolidated statements of cash flows for the three months ended March 31, 2012 is as follows:

	Three Months Ended March 31, 2012
	Previously Reported			Adjustments			As Adjusted
Net cash provided by (used in) operating activities	$	20.6		$	0.3		$	20.9
Net cash (used in) investing activities		(15.3	)		(0.1	)		(15.4	)
Net cash provided by (used in) financing activities		(12.1	)		(0.2	)		(12.3	)
Net increase (decrease) in cash and cash equivalents		(6.8	)		-			(6.8	)
Cash and cash equivalents at beginning of period		23.7			-			23.7
Cash and cash equivalents at end of period	$	16.9		$	-		$	16.9