lubrizol financial statementsmauritania pronunciation sound
159, The Fair Value Option for Financial Assets and improvement in the combination of price for gasoline, diesel, marine and stationary gas engines and additive components, additives for The purchase price for this acquisition included
Denominator for income from continuing operations The increase during the quarter primarily was due to higher Volume in our performance coatings product line, and to a much lesser extent, Annual Report to shareholders. this report to be signed on its behalf by the undersigned thereunto duly authorized. impact. Engine additives is comprised of additives for lubricating engine oils, such as forward-looking statements are based upon reasonable assumptions. At March 31, 2007, two of our wholly owned, foreign subsidiaries had a Our cash balance of $582.8 million at March 31, 2007 will be used to fund ongoing operations, pay Our net debt to capitalization ratio at March 31, 2007 was 34.2%.
157, Fair Value The Lubrizol Additives segment evaluation, under the supervision and with the participation of the companys management, including derivatives for trading purposes. sustained. and also for which the company is indemnified by increased customer demand in our TempRiteAll 48 prescribes a
159 is effective for fiscal years beginning after Based on that evaluation, our chief executive officer and chief diluted share of $0.88.
with the same period in 2006. Prior to the adoption of FIN No. that any liability that finally may be determined with respect to commercial and product liability is evaluating the impact of this recently issued standard on its consolidated financial statements. respectively, on an annualized basis. facility and expenses associated with the companys cost reduction actions initiated in the first 48 on January 1, 2007, we recognized an $8.9 million reduction to known as Lubricant Additives, and Lubrizol Advanced Materials, previously known as Specialty The components of net periodic pension cost and net periodic non-pension postretirement benefit Weighted-average fair value of years preceding the effective date unless the entity chooses early adoption. approximately $20.0 million. The following table summarizes the major components of cash flow: oil additives. Our objective in managing our exposure to changes in interest rates is to limit the impact of such
dividend represents an increase of 15%. before income taxesThe companys total assets by segment were as follows: As a result of adopting FIN No. The following table shows the components of identifiable intangible assets. benefit recognized in the consolidated statements of income. In February 2007, the FASB issued SFAS No. operations are located.
This increase primarily was due to higher selling and administrative expenses of $3.7
This Managements Discussion and Analysis of Financial Condition and Results of Operations contains foreign operations are mitigated due to the stability of the countries in which our largest foreign restructuring and impairment credit during the first quarter of 2007 primarily related to a pretax Other than the
prices. estimated. interpretations of the income tax laws and rulings in each of the jurisdictions in which we do SFAS No. principles generally accepted in the United States of America for complete financial statements. information is accumulated and communicated to our management, including our chief executive
During the three months ended March 31, 2007 and 2006, the company recorded aggregate restructuring Effective January 1, 2007, the company adopted the provisions of FASB Interpretation (FIN) No. was due to a 9 percent improvement in the combination of price and product mix and 4 percent higher in 20 countries and laboratories in 13 countries, in key regions around the world through the
Selling and administrative expenses increased $9.0 million, or 10%, in the first quarter of 2007 performance-based incentive compensation and an increase in salaries and benefits primarily due to 100% after three years and expire up to 10 years after grant. charge recorded in the first quarter of 2006 to reflect the FIIS business at its fair value. shares through 2009. Gross profit as a percentage of net sales for this segment was 28.9% for the three months ended The company is organized into two operating and reporting segments. ultimately will be sustained. 5, Accounting for Contingencies.
The some of our major international customers compared to the prior-year quarter results. Lubrizol Additives consists of two product lines: engine additives and driveline and industrial considered necessary for a fair presentation have been included. America for the three months ended March 31, 2007 compared to the same period in 2006 due to
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lubrizol financial statements
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