FMC (FMC) 8-K Regulation FD Disclosure

FMC Corporation

Bank of America Merrill Lynch

Global Industries Conference

New York, NY

December 10, 2009

William G. Walter

Chairman, President and CEO

Exhibit 99.1

1

Disclaimer

Safe Harbor Statement under the

Private Securities Litigation Reform Act of 1995

These slides and the accompanying presentation contain “forward-looking

statements”

that represent management’s best judgment as of the date hereof

based

on

information

currently

available.

Actual

results

of

the

Company

may

differ materially from those contained in the forward-looking statements. 

Additional

information

concerning

factors

that

may

cause

results

to

differ

materially from those in the forward-looking statements is contained in the

Company’s periodic reports filed under the Securities Exchange Act of 1934, as

amended.

The Company undertakes no obligation to update or revise these forward-

looking statements to reflect new events or uncertainties.

Non-GAAP Financial Terms

These

slides

contain

certain

“non-GAAP

financial

terms”

which

are

defined

in

the appendix.  In addition, we have provided reconciliations of non-GAAP terms

to the closest GAAP term in the appendix.

2

FMC Corporation

LTM ending September 30, 2009 ($ millions)

FMC CORPORATION

Revenue:             $2,842

EBITDA:                   $599

Margin*:               21.1%

*

EBITDA margin

Leading Market Positions

Diverse End Markets -

Low Correlation to Economic Cycles

Diversified and Integrated Cost Structure

Limited Dependence on Petrochemical Feedstocks

AGRICULTURAL

PRODUCTS

Revenue:          $1,023

EBITDA:

$288

Margin*:

28.1%

SPECIALTY

CHEMICALS

Revenue:

$749

EBITDA:

$186

Margin*:

24.8%

INDUSTRIAL

CHEMICALS

Revenue:

$1,075

EBITDA:

$180

Margin*:

16.7%

3

Realizing the inherent operating leverage within FMC

•

Sustaining earnings growth > 10% per year

(1)

•

Maintaining return on capital > 12%

Focusing the portfolio on higher growth businesses

•

Managing Specialty Chemicals and Agricultural Products for growth

•

Managing Industrial Chemicals for cash

Maintaining financial strength and flexibility

•

Solid balance sheet, LTM EBITDA > Net debt

(2)

•

Issued $300 million 10-year Senior Notes to extend maturity profile

•

Conservative liquidity position

•

Strong cash flow

Disciplined Approach to Unlocking Value

(1)

Earnings before restructuring and other income and charges

(2)

As of September 30, 2009

4

Leading Market Positions

(1) Based on 2008 consolidated sales

(2) Shared

Industrial

Chemicals

#1 in N.A.

Soda Ash

#1 in N.A.

(2)

Peroxygens

#1 Globally

Carrageenan

#1 Globally

Carbofuran

#2 in N.A.

Pyrethroids

Agricultural

Products

#1 Globally 

Alginates

Specialty

Chemicals

#1 Globally

(2)

#1 Globally

Lithium Specialties

Microcrystalline Cellulose

Product Group

Position

(1)

5

Global Presence

Agricultural Products Group

Industrial Chemicals Group

Specialty Chemicals Group

Manufacturing Facilities:

Based on 2008 Consolidated Sales

North America

34% of Sales

Latin America

24% of Sales

Europe / Middle East / Africa

28% of Sales

Asia / Pacific

14% of Sales

6

Diversified Customers and End Markets

Approximately 78% of sales to non GDP-cyclical end markets

Long-term relationships with blue chip customers

No single customer represents more than 3% of sales

Top 10 customers in total represent ~ 12% of sales

Food

9%

Pharmaceuticals 9%

Other 10%

Flat Glass  4%

Pulp & Paper 4%

Chemicals 7%

Other 7%     

Container Glass

4%

Detergents 9%

Agriculture 33%     

Chemicals 4%

Non-Cyclical

78%

Cyclical

22%

Based on 2008 Consolidated Sales

7

Diversified and Integrated Cost Structure

Low-cost sourcing of raw materials

-

Backward integration: soda ash, lithium

-

Global sourcing of renewable resources: wood pulp, seaweed

Low reliance on purchased raw materials

-

Total raw materials represent ~ 32% of cost of sales in 2008

-

No single raw material accounted for over 12% of total raw material

purchases in 2008

-

Reduced volatility from limited use of petrochemical feed stocks

Low energy demand requirements

-

Energy costs represent ~ 13% of cost of sales

-

Inputs are natural gas, electricity, coal and fuel oil

8

Agricultural Products

Based on 2008 Consolidated Sales of $1.1 billion

Strong niche positions in the Americas, Europe and Asia

Proprietary, branded insecticides and herbicides

Strategic Focus:

•

Selected products, crops and regions

•

Shifting to significantly shorter innovation cycle

•

Reducing global supply chain and overhead costs

9

Agricultural Products Financial Performance

2009

segment

earnings

growth

in

the

high

teens

--

reflecting

higher

selling

prices, continued supply chain productivity improvements, lower raw material

costs and lower selling and administrative expense

10

Specialty Chemicals

BioPolymers

–

pharmaceutical

and

food

ingredients

Lithium

focus

on

specialties

–

pharmaceuticals

and

energy

storage

Strategic Focus:

•

Growing core market segments

•

Commercializing new technology platforms

•

Pursuing financially attractive bolt-on acquisitions

Based on 2008 Consolidated Sales of $764 million

11

Specialty Chemicals Financial Performance

2009

segment

earnings

up

in

the

mid-single

digits

--

driven

by

strong

BioPolymer

results partially offset by lower lithium performance

12

Industrial Chemicals

Based on 2008 Consolidated Sales of $1.3 billion

#1 North American manufacturer of soda ash and peroxygens

Low cost, proprietary production technologies

Strategic Focus:

-

Managing for cash generation

-

Aligning capacity to highest margin markets

-

Controlling costs and increasing productivity

13

Industrial Chemicals Financial Performance

2009

segment

earnings

down

approximately

55

percent

--

driven

primarily

by

lower volumes across the segment and reduced phosphate selling prices

14

FMC in Summary

Great businesses, each with EBITDA  >$180 million

Sustained double-digit earnings growth

(1)

•

Diverse end-markets, low correlation to economic cycles

•

Diversified and integrated cost structure

•

Products aligned with global secular growth trends

Strategic and financial flexibility

•

Solid balance sheet

•

Conservative liquidity profile

•

Strong cash flow

Disciplined approach to unlocking value

(1)

Earnings before restructuring and other income and charges

FMC Corporation

FMC Corporation

Glossary of Financial Terms

&

Reconciliations of GAAP to Non-GAAP

17

Non-GAAP Financial Terms

These slides contain certain “non-GAAP financial terms”

which are defined

below. In addition, we have provided reconciliations of non-GAAP terms to

the closest GAAP term in the appendix of this presentation.

EBITDA

(Earnings Before Interest, Taxes, Depreciation and Amortization) is

the

sum

of Income (loss) from continuing operations before income taxes

and

Depreciation and Amortization.

EBITDA

Margin

is

the

quotient

of

EBITDA

(defined

above)

divided

by

Revenue.

ROIC

(Return

on

Invested

Capital)

is

the

sum

of

Earnings

from

continuing

operations

before

restructuring

and

other

income

and

charges

and

after-

tax

Interest

expense

divided

by

the

sum

of

Short-term

debt,

Current

portion

of

long-term

debt,

Long-term

debt

and

Total

shareholders’

equity.

18

Segment Financial Terms

These slides contain references to segment financial items. Some

of the

segment financial terms are “non-GAAP financial terms”

and are defined

below. In addition, we have provided reconciliations of non-GAAP terms

to the closest GAAP term in the appendix of this presentation. 

EBITDA

(Earnings Before Interest, Taxes, Depreciation and Amortization)

for a segment

is the

sum

of Income (loss) from continuing operations

before

income

taxes

for

that

segment

and

Depreciation

and

Amortization

for that segment.

EBITDA

Margin

for

a

segment

is

the

quotient

of

EBITDA

(defined

above)

divided by Revenue

for that segment.

19

Reconciliation

of

consolidated

income

from

continuing

operations

before

income taxes (a GAAP measure) to EBITDA (a Non-GAAP measure)

EBITDA Reconciliation: LTM 9/30/2009

(Unaudited, in $ millions)

LTM 9/30/2009

Income (loss) from continuing operations before income taxes

$336.0

Net Income attributable to non-controlling interests

(11.2)

Restructuring and other charges/(income), net  

116.5

Impairment of Perorsa Joint Venture

1.4

Purchase accounting inventory fair value impact and other

related inventory adjustments

6.0

Interest expense, net

27.1

Depreciation and amortization

123.4

EBITDA (Non-GAAP)

$599.2

20

Reconciliation of Segment Operating Profit (a GAAP measure) to EBITDA

(a Non-GAAP measure)

Segment EBITDA Reconciliation: LTM 9/30/2009

(Unaudited, in $ millions)

LTM 9/30/2009

Segment

Industrial

Chemicals

Specialty

Chemicals

Agricultural

Products

Segment Operating Profit (GAAP)

$110.3

$154.6

$275.9

Add:

Depreciation and Amortization

69.5

30.9

11.8

EBITDA (Non-GAAP)

$179.8

$185.5

$287.7

FMC Corporation