KPMG Chemicals Disclosure Excerpts

CHEMICALS AND
P E RFORMANCE TECHNOLOGIES
KPMG’s Chemicals
Disclosure Excerpts
Risk and Disclosure in the
Chemical Industry 2009–2010
kpmg.com/chemicals
K P M G INTERNATIONAL
Contents
Executive Summary 2
List of Abbreviations 4
Basis of Review 4
50 Companies Reviewed 4
Reported Risk Factors 5
Legal and Political Environment 6
Economic Environment 6
Raw Materials and Energy Costs 6
Globalization and Internationalization 7
Hazardous Materials, Production, and Insurance Coverage 7
Joint Ventures and Acquisitions 7
Critical Accounting Policies 8
Market Risk 9
Sustainability Reporting and Commitment 10
Megatrends 12
Carbon Disclosure Project 12
REACH 13
Social Responsibility 13
Reporting Assurance 14
Reported Performance of the 50 Companies Reviewed 14
© 2010 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. All rights reserved.
2 | KPMG’S CHEMICALS D I SC L O S U R E E XCE R P T S
Executive Summary
Risk and uncertainty dominated the

financial reports issued during the
2009 reporting season, reflecting
one of the most turbulent periods
in the history of the global chemical
industry. As we move into the
2010 reporting season, this year’s
disclosure excerpts provides a
brief overview of how companies
reported last year.
With the global economy seemingly the economic environment. With credit Consistent with the prior year, the
back on track, and the global chemical markets remaining tight in the aftermath ranking of the economic environment
industry potentially heading for double of the global banking meltdown, and the legal and political environment
digit growth in 2010, discussing risk and financing risk was also prevalent as were regarded as important risks
uncertainty resulting from the recession large companies continued to find as a result of the economic crisis.
that decimated chemical demand major credit lines both difficult and Risks resulting from globalization and
throughout late 2008 and most of 2009 expensive to obtain. Looking ahead to internationalization, financing and
may seem counterintuitive. However, the risk landscape in the 2010 reports, hazardous material production and
consider the severity of the conditions the industry remains highly leveraged insurance coverage also remained highly
experienced by the industry in 2009 despite the recent return to growth, ranked risks as in previous years. Further
with many companies, particularly in therefore financing is likely to remain significant risks included the volatility
Western economies, experiencing a significant issue. Access to growing in the cost of raw materials and energy,
output declines of 50 per cent or more as Asian markets is increasingly becoming competition and innovation, and potential
demand collapsed in key markets such as a critical success factor for companies in legal disputes (e.g., product liability).
automotive and construction. As a result, the industry, providing legal and political
Companies reporting under both IFRS
cash became king, with companies risks; whilst the likely non-homogenous
and US GAAP must disclose their
focusing on improving their balance application of emissions trading schemes
accounting policies and accounting
sheets to provide the strength to survive. across the globe will add further
estimates (IAS 1.113, IAS 1.116, and
complexity to what is already a highly
The year was also characterized by SEC Financial Reporting Release
regulated industry.
a number of drastic actions taken by No. 60). Critical accounting policies
companies in response to the changed The main risks mentioned in the 2009 and accounting estimates included
conditions including closing plants and financial reports are: information on significant decisions
reducing capacity as cost reduction relating to the use of accounting and
• Economic environment
joined liquidity management as a key measurement methods, and material
board agenda. • Financing assumptions on future developments.
These implied that there is a
Consequently, the main risks mentioned • Globalization and internationalization
considerable risk that the value of the
in the 2009 financial reports reflect the
• Legal and political environment company’s assets and liabilities may
uncertainty created by the downturn in
require adjustment in the future.
K P M G ’ S CH E M I C A LS DI S C L O S U R E EXCERPTS | 3
The top two most mentioned critical IFRS filings by US public companies. Some of the main environmental
accounting policies over the last three The roadmap is conditional on progress reporting issues were:
years were: between now and 2011. At that time, the
• Risks and opportunities related to
SEC should decide whether to proceed
• Deferred tax assets and their climate change and greenhouse gas
and whether IFRS will become obligatory
accounting (GHG) emissions
at the beginning of 2014 for large
• Accounting for pension commitments accelerated US filers. • Activities to preserve resources
Other critical accounting policies referred The chemical industry’s key • Environmental management systems
to contingencies for legal claims resulting stakeholders, most notably customers,
Key social-responsibility reporting topics
from, for example, product sales, governments and other regulatory
include:
violations of patents, and competition bodies are increasingly demanding
regulations. In addition, companies environmentally friendly solutions. • Occupational health and safety
recognized environmental commitments, Despite the overall positive contribution
• Headcount and employment as well
and the related-cost estimates, such as from many chemical products to the
as employee training and education
contractual risks, from product liability mitigation of climate change, the
and site cleanup. high energy use and greenhouse gas • Support for society and local
emissions in producing chemicals communities
IFRS and US GAAP accounting
and the strong dependence on fossil
frameworks have been subject to
feedstock requires chemical companies
changes due to additions, amendments,
to continually reinforce their green
and convergence since the US Financial
credentials. As a result in fiscal
Accounting Standards Board (FASB) and
year 2009, 45 of the world’s largest
the IASB issued the Norwalk Agreement
50 chemical companies by revenue
in their joint meeting in September
reported sustainability issues either
2002. The SEC has proposed a potential
in separate reports, in a chapter in the
“roadmap” for phasing in mandatory
annual reports, or on their web sites.
4 | K PMG’S CHEMICALS DI S C L O S U R E EXC E R P T S
List of Abbreviations
10-K Annual summary report form of a company’s performance for the US Securities and Exchanges Commission
Form filed by foreign private issuer with securities traded in the US, used both as a registration statement for
20-F
purposes of registering securities or as an annual report
Registration statement pursuant to Section 12 or annual report pursuant to Section 13(a) or 15(d) for the US
40-F
Securities and Exchanges Commission
CAGR Compounded annual growth rate
EU European Union
FASB US Financial Accounting Standards Board
GHG Greenhouse gas
IAS International Accounting Standard
IASB International Accounting Standards Board
IFRS International Financial Reporting Standards
JV Joint venture
REACH EU legislation for the Registration, Evaluation, and Authorization of Chemicals
SEC US Securities and Exchange Commission
UK United Kingdom of Great Britain and Northern Ireland
US United States of America
US GAAP US Generally Accepted Accounting Principles
Basis of Review
The resulting review constitutes a combination of Chemical Week’s and American Chemical Society’s largest 50 revenue
rankings combined with our own analysis. The information summarized below was obtained from annual regulatory filings
(e.g.10-K and 20-F) and company annual reports, with exception of INEOS.*
Companies Reviewed
Figure 1. Analysis of 50 companies registered
We surveyed the 2009 regulatory
filings (e.g.10-K, 20-F, and 40-F) 40
of 14 SEC registrants as well as
36 annual reports of non SEC 35
registrants with respect to their
30
quantitative and qualitative risk
disclosure. The risk reporting is 25
generally based on Regulation S-K
Item 503 [c] for SEC filers or other 20
national reporting rules. 15
10
0
SEC Registrants Annual Reports
Source: Company statutory accounts
* For Ineos, proforma revenues were used, which were published on the company’s website.
K P M G ’ S C HE M I C A LS D IS C L O S U R E E XCERPTS | 5
Reported Risk Factors

Figure 2. Reported Risk Factors 2009
Compared to previous surveys
Economic Environment 91%
the ranking of risks has shifted
towards financing risks as a result
Financing 88%
of the economic crisis. Therefore,
in our 2009 survey, we paid Hazardous Materials, Production
86%
special attention to risk reporting and Insurance Coverage
related to the ongoing credit and
Globalization and Internationalization 86%
economic crisis as the current
economic recovery’s effects on
Legal and Political Environment 86%
chemical companies resulted in a
number of risks related to a variety
Competition and Innovation 84%
of topics and accounting policies.
Raw Materials and Energy Cost 84%
Dependency on Customers and Suppliers 70%
Law and Litigation 70%
Intellectual Property and Personnel 49%
Joint Ventures and Acquisitions 40%
0% 20% 40% 60% 80% 100%
Percentage of Companies Reporting

Figure 3. Reported Risk Factors 2008

Legal and Political Environment 93%
Economic Environment 93%
Raw Materials and Energy Costs 90%
Globalization and Internationalization 90%
Competition and Innovation 79%
Law and Litigation 69%
Hazardous Materials, Production 69%

and Insurance Coverage
Financing 69%
Intellectual Property and Personnel 66%
Joint Ventures and Acquisitions 59%
Dependency on Customers and Suppliers 41%
0% 20% 40% 60% 80% 100%

6 | KPMG’S CHEMICALS D IS C L O S U R E E XC E R P T S
Legal and Political Environment

Chemical companies are subject to various legal and • Changes to health systems
political risks. Those commonly disclosed are:
• Changes to tax regulations
• Changes to environment
• International transfer of goods
• Changes to employment protection
• Pricing protection
Economic Environment
The chemical market is cyclical because its demand • Increase in risk of bad debt
level is driven by customer industries’ cyclical demand.
• Potential lack of new business
Additionally, due to financial and economic crisis, 91%
of the surveyed 2009 regulatory filings stated economic • Difficulty in making accruate assessments of the future
environmental risk as a significant risk factor with many
• Changing credit ratings
focusing on uncertainties about future econmic recovery.
Commonly disclosed economic risks are: • Further lost sales
Raw Materials and Energy Costs

Chemical companies are typically large consumers of industries’ cyclicality and general global extension of
energy, therefore energy input has a direct influence on consumption.
profitability. Energy prices depend primarily on supply
• Prices for raw materials may temporarily increase
and demand, as well as on legal constraints and national
when products are used as substitutes for scarce
regulations. The following factors can cause increases
or hazardous substances; however, product and
in raw material prices, which may impact chemical
process innovation due to excessive shortages of
companies’ profitability, to the extent that they cannot be
raw materials and energy resources may cause raw
passed on to customers on a timely basis:
material prices to decrease in the long term.
• Increases in raw material prices are based primarily
• The availability of raw materials can be limited due
on the shortage of resources as well as on general
to production disruption or strikes, which can lead to
economic development, as they follow customer
price increases.
Globalization and Internationalization

In their regulatory filings, several surveyed companies • Change in emission regulations
mentioned significant risks related to globalization
• Trade barriers
and internationalization. The following are commonly
disclosed risks: • Political instability
• Fluctuation in foreign currency • International tax law
• Compliance with various jurisdictions
Hazardous Materials, Production, and Insurance Coverage

Chemical products frequently contain dangerous and • Technical errors
toxic substances. Storage, application in production, and
• Fire and explosions
transportation of hazardous materials implies certain risks.
Also, related required prevention processes lead to higher • Uncontrolled emission of substances
production costs. Production risks arise in particular from:
• Acts of terror or damage due to war
Joint Ventures and Acquisitions

Although joint ventures (JV’s) may offer benefits such • Lack of control (dependence on partner)
as access to new markets and distribution networks,
• May not realize anticipated benefits
risk sharing, and access to greater resources, shared
control of JV’s may delay required decisions or actions • Delayed decision making
regarding the business entity. These risks are commonly
• Differing views and priorities
disclosed as follows:
8 | K PMG’S CHEMICALS DI S C L O S U R E EXC E R P T S
Critical Accounting Policies

We reviewed two of the 2009 regulatory companies analyzed consider pension
filings (10-K and 20-F) and 24 annual and other postretirement benefits and
financial statements of the largest current and deferred income taxes as
50 chemical companies by revenue, key areas. In addition, focus continues
prepared according to International in the following areas: contingent
Financial Reporting Standards liabilities, long-lived assets, allowances
(IFRS). While not all of the significant for inventory and accounts receivable,
accounting policies require difficult, and the economic life of long-lived
subjective, or complex judgments, the assets.
Figure 4. Critical Accounting Policies 2009

Accounting for taxes
83%
(current and deferred)
Long-lived assests, depreciation, and

76%
finite useful lives
Pension and other postretirement benefits,

76%
long-term employee benefit costs
Allowances for inventories and receivables 65%
Impairment 63%
Recognized contingencies, legal claims 52%
Environmental liabilities 39%
Accounting for business combinations 35%
0% 20% 40% 60% 80% 100%
Figure 5. Critical Accounting Policies 2008

Impairment 86%
Pension and other postretirement benefits,

83%
long-term employee benefit costs
Accounting for taxes (current and deferred) 76%
Recognized contingencies, legal claims 55%
Environmental liabilities 52%
Long-lived assests, depreciation, and

34%
finite useful lives
Allowances for inventories and receivables 24%
Accounting for business combinations 21%
0% 20% 40% 60% 80% 100%
K P M G ’ S C H E M I C A LS D I S C L O S U R E E XCERPTS | 9
Market Risk
We reviewed 26 of the largest 50 Figure 6. IFRS 7 Disclosure: Market risk
chemical companies by revenue, all
of which applied IFRS in their financial Currency exchange risk 88%
statements for the year ended
December 31, 2009. We selected Interest rate risk 85%
qualitative and quantitative information
about market, credit and liquidity risk Commodity risk 38%
(provided in excerpts from notes to
the IFRS financial statements of these Equity price risk 12%
chemical companies).
0% 20% 40% 60% 80% 100%
The 26 chemical companies surveyed
identified the following risks as market Percentage of Companies Reporting
risk arising from financial instruments:
10 | KPMG’S CHEMICA LS D I S C L O S U R E E XC E R P T S
Sustainability Reporting and Commitment

In 2009 approximately 90 percent Figure 7. Sustainability Reporting 2009
(compared to 76 percent in 2008) of
the largest 50 chemical companies
by revenue, reported nonfinancial
information in addition to required
financial reports (Figure 7). This increase 4%
6%
was noted for all regions with a
10%
distinctive increase in Asia-Pacific.
16%
64%
Separate Sustainability Report

Separate Chapter in Annual Report
No Reporting
Integrated Annual Report
Only on Homepage
Figure 8. Occurrence of sustainability reports per region in

2008 and 2009(Basis of reference of 2009 survey:
45 companies of those reviewed had sustainability reports;
Basis of reference of 2008 survey: 38 companies of those
reviewed had sustainability reports)
67%
Other
100%
86%
Europe
95%
75%
Asia-Pacific
93%
64%
North America
79%
0% 20% 40% 60% 80% 100%
2008 2009
K P M G ’ S CH E M I C A LS D I S C L O S U R E E XCERPTS | 11
In addition to the variety of detail and Figure 9. Title of non-financial reporting

reporting formats, the selection of (Basis of reference of 2009 survey: 45 companies of those
reviewed had sustainability reports; Basis of reference of 2008
titles varied across the reports. Most of
survey: 38 companies of those reviewed had sustainability reports)
the reports are called “Sustainability”
or “Sustainable Development” reports
(Figure 9). 20 percent of companies
that publish sustainability issues
did so within their annual report as 5% 4%
5%
a separate section and did not issue
a stand-alone sustainability report.
Other titles included “Corporate 44%
Citizentship Reports”, and “Corporate 20%
Responsibility Reports”.
22%
Sustainability/Sustainable Development Report

Corporate Social Responsibility (CSR) Report
Annual Report
Corporate Citizenship Report
Corporate Responsibility Report
Other
Figure 10. Issues Addressed by Goals Presented

in Sustainability Reports (Basis of reference of 2009
survey: 45 companies of those reviewed had sustainability
reports; Basis of reference of 2008 survey: 38 companies
of those reviewed had sustainability reports)
Energy and Production

82%
Efficiency
Health and Safety 64%
Climate Change 58%
Product Stewardship 42%
Sustainable Innovation 33%
Community Involvement 30%
0% 20% 40% 60% 80% 100%
12 | K PMG’S CHEMICA LS DI S C L O S U R E EXC E R P T S
Megatrends
Global Megatrends are affecting Figure 11. Reporting on Global Megatrends (Basis of
companies across all industries. reference of 2009 survey: 45 of those reviewed reported
The most frequently cited risks and on global megatrends)
challenges related to global megatrends
are as follows: climate change Climate Change
0.8 80%
(80 percent), protection of biodiversity
(53 percent) or scarcity of water Energy Demand Biodiversity
0.6
(44 percent). 53%
0.4
0.2
Population Growth 11% Scarcity of Water
22% 44%
0
11%
24%
36% Demographical
Urbanization 38%
Change
Growth of Emerging
Resource Scarcity
Markets
Carbon Disclosure Project

Our 2009 research of the sustainability Figure 12. Responses to the Carbon Disclosure Project;
reports of the largest 50 chemical Based on Research directly on CDP Homepage (Basis of
companies by revenue, identified reference of 2009 survey: 45 companies of those reviewed
17 companies (34 percent) that had sustainability reports; Basis of reference of 2008 survey:
mentioned their contribution to the 38 companies of those reviewed had sustainability reports)
CDP in their report. Within the CDP
Water Disclosure Program launched in
CDP Investors 31%
2010, 11 of those reviewed will receive a
questionnaire. Some of the companies
CDP Water Disclosure 11%
contribute to more than one program
(2010: 12 companies).
CDP Supply Chain 2%
0% 5% 10% 15% 20% 25% 30% 35%
REACH
Based on 45 reporting companies, Figure 13. Reporting on REACH (Basis of reference of 2009
71 percent mentioned their commitment survey: of those reviewed 30 companies reported on REACH)
to REACH. In comparison 72 percent
of all EU companies and 53 percent of
non-EU companies report on REACH. REACH EU 72%
All Japanese companies, which are
important exporters to the European Average headquartered
60%
market, report on REACH. Most of them companies
have completed the preregistration

REACH Non-EU 53%
process and started in fiscal year 2009
to prepare for further steps.
0% 20% 40% 60% 80% 100%
Social Responsibility
The chemical industry has a long history Figure 14. Reporting on Social Issues (Basis of reference
of reporting social responsibility issues. of 2009 survey: 45 companies of those reviewed had
sustainability reports; Basis of reference of 2008 survey:
More than half of the largest 50 38 companies of those reviewed had sustainability reports)
chemical companies by revenue, align
their operations and strategies to
Occupational Health 100%
the United Nation’s Global Compact and Safety
Principals on human rights, labor,
environment, and anti-corruption. Community Engagement 91%
Training and Development 82%
Diversity and Equal

80%
Opportunity/Human Rights
Headcount/Redundancy 56%
0% 20% 40% 60% 80% 100%
Reporting Assurance
The majority of assurance reports on Figure 15. Independent Assurance (Basis of reference
sustainability information were issued of 2009 survey: 45 companies of those reviewed had
by auditing firms (2009: 33 percent) sustainability reports; Basis of reference of 2008 survey:
and 13 percent were reviewed by 38 companies of those reviewed had sustainability reports)
other specialized organizations1. The
majority (2009: 54 percent) did not seek
voluntary assurance.
14%
53%
33%
No Assurance
Auditing Firm
Other Organization
Reported Performance of the 50 Companies Reviewed

In this section, key financial and Financial year-end for several companies3 rates were calculated using total tax
operating performance information is March 31. For those companies, the expenses for the fiscal year.
for 50 of the world’s largest chemical March 31, 2010, year-end is referred to
manufacturers is presented. For your reference, we have also
as financial year 2009.
supplied data for the five years prior
Chemical revenues and operating profit All financial data is presented in Euro. to 2009,4 to show the compounded
are given for the companies’ chemicals For balance sheet items, we used the annual growth rate (CAGR) for the
segments only.2 All other performance currency conversion rate for the end of period between 2004 and 2009,5
measures are for the entire company, the fiscal year. For income statement where appropriate.
including non-chemicals-related items, we used the average currency
business units consistent with how conversion rate for the fiscal years,
information is reported to regulatory according to Oanda.com. Effective tax
bodies and shareholders.
1
Percentages are based on 45 reports on sustainability issues in 2009. This is a slight increase when compared
to 2008. In Europe more than 70 percent of the reports have been assured.
2
Where a segment split is published; for companies that do not publish segment reporting, we show total sales
as chemical sales.
3
Asahi Kasei, Dainippon Inks & Chemicals, Mitsubishi Chemical Holdings, Mitsui Chemicals, Reliance
Industries, Shin-Etsu, Sumitomo Chemical Company,Toray Industries, and Tosoh Corporation
4
All numbers are shown as originally published.
5
CAGR is shown for the period FY2004–FY2009, where appropriate, or for the years figures obtained.
K P M G ’ s C h emica ls D iscl o s u re E xc erp ts | 15
Largest 50 Ranked by Revenue

Ranking Company Domicile Chemical sales Total sales Notes
(Million €) 2009 (Million €) 2009
1 BASF SE Ludwigshafen, Germany 34,760 50,693
2 The Dow Chemical Company Midland, Michigan, USA 33,544 33,544
3 Sinopec Corp. Beijing, China 23,032 141,809
4 Saudi Basic Industries Riyadh, Saudi Arabia 21,485 19,783
Corporation – SABIC
5 Lyondell-Basell Rotterdam, Netherlands 19,140 22,170
6 DuPont Wilmington, DE, USA 18,777 18,777
7 Total S.A Tour Total, Courbevoie, France 14,726 131,327
8 Bayer AG Leverkusen, Germany 14,030 31,168
9 Formosa Petrochemical Taipei, Taiwan 13,347 13,837
Corporation
10 Mitsui Chemicals Inc. Tokyo, Japan 10,562 10,562
11 Air Liquide S.A. Paris, France 10,180 11,976
12 Evonik Industries AG Essen, Germany 9,978 13,076
(formerly Degussa)
13 Sumitomo Chemical Co. Ltd. Tokyo, Japan 9,962 12,696
14 Toray Industries Inc. Tokyo, Japan 9,585 11,316
15 Akzo Nobel N.V. Amsterdam, Netherlands 9,247 13,893
16 Linde AG Munich, Germany 8,932 11,211
17 Reliance Industries Ltd. Mumbai, India 8,088 22,432
18 Syngenta AG Basel, Switzerland 7,905 7,905
19 Royal DSM N.V. Heerlen, Netherlands 7,866 7,866
20 Mitsubishi Chemical Tokyo, Japan 7,632 20,654
Corporation
21 Yara International ASA Oslo, Norway 6,975 6,975
22 DIC Corporation Nihonbashi, Chūō, Japan 6,620 6,620
23 Sasol limited Johannesburg, South Africa 6,491 11,879
24 Asahi Kasai Corporation Tokyo, Japan 6,488 11,943
25 Praxair Inc. Danbury, CT, USA 6,441 6,441
26 PPG Industries, Inc. Pittsburgh, PA, USA 6,067 8,802
27 Chevron Phillips Chemical The Woodlands, TX, USA 6,045 6,045
Company LLC
28 Ashland Inc. Covington, KY, USA 5,830 5,830
29 Solvay S.A. Brussels, Belgium 5,695 8,485
30 Air Products & Chemicals Inc. Allentown, PA, USA 5,585 5,938
31 Huntsman Corporation Salt Lake City, UT, USA 5,583 5,583
32 Braskem S.A. Camacari, Brazil 5,543 5,543
33 LG Chem, Ltd. Seoul, Korea 5,471 7,806
34 Tosoh Corporation Tokyo,Japan 5,271 5,641
35 Sherwin Williams Cleveland, OH, USA 5,102 5,102
36 Teijin Tokyo, Japan 5,063 7,255
37 Lanxess AG Leverkusen and Cologne, 5,057 5,057
Germany
38 Borealis GmbH Vienna, Austria 4,714 4,714
39 Shin-Etsu Chemical Co Ltd Tokyo, Japan 4,467 8,526
40 Arkema S.A. Colombes, France 4,444 4,444
41 Clariant AG Muttenz, Schweiz 4,381 4,381
42 Rhodia S.A. Paris, France 4,031 4,031
43 ENI S.p.A. Rome, Italy 3,965 83,227
44 Hitachi Chemical Tokyo, Japan 3,758 3,758
45 Celanese Corporation Dallas, TX, USA 3,655 3,655
46 Eastman Chemical Company Kingsport, TN, USA 3,630 3,630
47 Nova Chemicals Corporation Calgary, AB, Canada 2,913 2,913
48 Exxon Mobil Corporation Irving, TX, United States NA 216,827
49 Royal Dutch Shell plc The Hague, Netherlands NA 200,062 Downstream revenues
include Oil Products and
Chemicals segments
50 Ineos Group Limited Hampshire, UK NA 33,801
16 | KPMG’ s Chemicals Discl o su re E xc e rp ts
Reporting Standards & Stock Listings

Company Listed Reporting Standard
Air Liquide S.A. Yes IFRS
Air Products & Chemicals Inc. Yes US GAAP
Akzo Nobel N.V. Yes IFRS/NL GAAP
Arkema S.A. Yes IFRS
Asahi Kasai Corporation Yes Japanese GAAP
Ashland Inc. Yes US GAAP
BASF SE Yes IFRS/German GAAP
Bayer AG Yes IFRS/German GAAP
Borealis GmbH No IFRS
Braskem S.A. Yes Brazil GAAP
Celanese Corporation Yes US GAAP
Chevron Phillips Chemical Company LLC No US GAAP
Clariant AG Yes IFRS
Dainippon Inks & Chemicals Inc. Yes Japanese GAAP
The Dow Chemical Company Yes US GAAP
DuPont Yes US GAAP
Eastman Chemical Company Yes US GAAP
ENI S.p.A. Yes IFRS
Evonik Industries AG (formerly Degussa) No IFRS/German GAAP
Exxon Mobil Corporation Yes US GAAP
Formosa Petrochemical Corporation Yes
Hitachi Chemical Yes Japanese GAAP
Huntsman Corporation Yes US GAAP
Ineos Group Limited No IFRS
Lanxess AG Yes IFRS/HGB
LG Chem, Ltd. Yes Korean GAAP
Linde AG Yes IFRS
Lyondell-Basell2 Yes US GAAP
Mitsubishi Chemical Corporation Yes Japanese GAAP
Mitsui Chemicals Inc. Yes Japanese GAAP
Nova Chemicals Corporation No Canada GAAP
PPG Industries, Inc. Yes US GAAP
Praxair Inc. Yes US GAAP
Reliance Industries Ltd. Yes Indian GAAP
Rhodia S.A. Yes IFRS
Royal DSM N.V. Yes IFRS
Royal Dutch Shell plc Yes IFRS
Sasol limited Yes Global Reporting Initiative (GRI)
Saudi Basic Industries Corporation – SABIC Yes Saudi GAAP
Shin-Etsu Chemical Co Ltd Yes Japanese GAAP
Sherwin Williams Yes US GAAP
Sinopec Corp. Yes IFRS
Solvay S.A. Yes IFRS
Sumitomo Chemical Co. Ltd. Yes Japanese GAAP
Syngenta AG Yes IFRS
Teijin Yes Japanese GAAP
Toray Industries Inc. Yes Japanese GAAP
Tosoh Corporation Yes Japanese GAAP
Total S.A Yes IFRS
Yara International ASA Yes IFRS
K P M G ’ S C H E M I C A LS DI S C L O S U R E E XCERPTS | 17
Chemical Revenue
(in millions )
2004 2005 2006 2007 2008 2009 CAGR

Air Liquide S.A. 8,275 9,148 9,628 9,999 11,028 10,180 4%
Air Products & Chemicals Inc. 5,798 6,094 6,297 6,636 6,645 5,585 (1%)
Akzo Nobel N.V. 9,554 9,445 9,994 10,160 10,150 9,247 (1%)
Arkema 5,318 5,710 5,664 5,675 5,633 4,444 (4%)
Asahi Kasai Corporation 5,334 5,825 6,083 6,149 5,990 6,488 4%
Ashland Inc. 4,750 5,298 4,736 5,289 5,582 5,830 4%
BASF SE 30,704 33,118 41,923 47,434 47,859 34,760 3%
Bayer AG 20,596 16,591 17,232 17,578 17,511 14,030 (7%)
Borealis GmbH 4,628 4,814 5,742 6,350 6,697 4,714 0%
Braskem S.A. 2,965 4,354 4,730 6,639 6,780 5,543 13%
Celanese Corporation 4,081 4,886 5,309 4,710 4,663 3,655 (2%)
Chevron Phillips Chemical Company LLC 7,438 8,619 9,443 9,161 8,566 6,045 (4%)
Clariant AG 5,528 5,283 5,150 5,195 5,090 4,381 (5%)
Dainippon Inks & Chemicals Inc. 7,421 7,298 6,775 6,672 6,672 6,620 (2%)
The Dow Chemical Company 32,334 37,277 39,181 39,111 39,306 33,544 1%
DuPont 22,011 21,444 21,871 21,472 20,864 18,777 (3%)
Eastman Chemical Company 5,298 5,682 5,942 4,992 4,597 3,630 (7%)
ENI S.p.A. 5,417 6,255 6,156 6,934 5,905 3,965 (6%)
Evonik Industries AG (formerly Degussa) 11,244 11,752 10,919 10,931 11,512 NA NA
Exxon Mobil Corporation 14,947 15,498 27,197 38,736 37,588 9,978 (8%)
Formosa Petrochemical Corporation 7,817 10,432 12,316 14,911 18,166 13,347 11%
Hitachi Chemical NA NA NA NA NA 3,758 NA
Huntsman Corporation 9,199 10,434 8,409 7,041 6,981 5,583 (10%)
Ineos Group Limited 5,000 19,800 28,714 32,889 NA NA NA
Lanxess AG 6,773 7,150 6,944 6,608 6,576 5,057 (6%)
LG Chem, Ltd. 5,060 5,836 7,761 8,528 6,258 5,471 2%
Linde AG 4,003 4,438 6,189 9,202 9,515 8,932 17%
Lyondell-Basell 4,805 13,610 15,559 11,881 22,669 19,140 32%
Mitsubishi Chemical Corporation 13,024 14,351 14,487 14,584 15,989 7,632 (10%)
Mitsui Chemicals Inc. 9,084 10,691 11,261 11,060 10,562 10,562 3%
Nova Chemicals Corporation 4,243 4,521 5,200 4,920 5,034 2,913 (7%)
PPG Industries, Inc. 5,870 6,411 6,227 6,575 7,211 6,067 1%
Praxair Inc. 5,309 6,163 6,639 6,872 7,378 6,441 4%
Reliance Industries Ltd. 4,643 5,498 7,301 9,307 8,089 8,088 12%
Rhodia S.A. 5,281 5,085 4,810 5,081 4,763 4,031 (5%)
Royal DSM N.V. 7,752 8,195 8,352 8,757 9,297 7,866 0%
Royal Dutch Shell plc* 21,639 24,969 28,958 29,999 29,724 NA 53%
Sasol limited 1,520 1,943 2,321 5,790 6,424 6,491 34%
Saudi Basic Industries Corporation – SABIC 14,716 16,793 15,732 21,426 22,133 21,485 8%
Sherwin Williams 4,922 5,785 6,225 5,851 5,453 4,467 (2%)
Shin-Etsu Chemical Co Ltd 7,159 8,192 8,704 8,520 8,526 5,102 (7%)
Sinopec Corp. 12,274 15,805 20,893 20,910 20,441 23,032 13%
Solvay S.A. 5,178 6,882 6,798 6,981 6,791 5,695 2%
Sumitomo Chemical Co. Ltd. 7,909 8,955 9,397 9,340 9,962 9,962 5%
Syngenta AG 5,852 6,524 6,417 6,753 7,944 7,905 6%
Teijin NA NA NA NA NA 5,063 NA
Toray Industries Inc. 8,181 8,761 8,776 8,719 8,847 9,585 3%
Tosoh Corporation 4,016 4,374 4,903 4,817 4,866 5,271 6%
Total S.A 20,042 22,326 19,113 19,805 20,150 14,726 (6%)
Yara International ASA 5,148 5,767 5,838 7,070 10,722 6,975 6%
* Downstream revenues include Oil Products and Chemicals segments
18 | K PMG’S CHEMICA LS DI S C L O S U R E E XC E R P T S
Total Revenue
(in millions )
Company 2004 2005 2006 2007 2008 2009 CAGR

Air Liquide S.A. 9,376 10,435 10,949 11,801 13,103 11,976 5%
Air Products & Chemicals Inc. 6,095 6,410 7,197 7,552 6,936 5,938 (1%)
Akzo Nobel N.V. 12,688 13,000 13,737 10,217 15,415 13,893 2%
Arkema 5,318 5,710 5,664 5,675 5,633 4,444 (4%)
Ashland Inc. 6,827 7,297 5,882 5,289 5,582 5,830 (3%)
BASF SE 37,537 42,745 52,610 57,951 62,304 50,693 6%
Bayer AG 29,758 27,383 29,956 32,385 32,918 31,168 1%
Borealis GmbH 4,628 4,814 5,742 6,350 6,699 4,714 0%
Braskem S.A. 2,965 4,354 4,773 6,639 6,780 5,543 13%
Celanese Corporation 4,081 4,886 5,229 4,710 4,663 3,655 (2%)
Chevron Phillips Chemical Company LLC 7,438 8,619 9,443 9,161 8,642 6,045 (4%)
Clariant AG 5,528 5,283 5,150 5,195 5,090 4,381 (5%)
DuPont 22,011 21,444 21,871 21,471 20,864 18,777 (3%)
ENI S.p.A. 58,382 73,728 86,105 87,256 108,148 83,227 7%
Evonik Industries AG (formerly Degussa) 11,244 11,752 10,919 10,931 15,873 13,076 3%
Exxon Mobil Corporation 237,487 288,959 291,496 285,279 314,081 216,827 (2%)
Hitachi Chemical 4,111 4,376 4,200 3,881 3,806 3,758 (2%)
Ineos Group Limited 5,000 19,800 28,714 32,889 32,120 33,801 47%
Lanxess AG 4,787 7,150 6,944 6,608 6,576 5,057 1%
LG Chem, Ltd. 5,060 5,836 7,761 8,528 9,170 7,806 9%
Linde AG 9,421 9,501 12,439 12,306 12,663 11,211 4%
Lyondell-Basell 4,805 14,978 17,729 12,473 34,104 22,170 36%
Mitsubishi Chemical Corporation 16,202 17,496 17,497 18,136 20,654 20,654 5%
Nova Chemicals Corporation 4,243 4,521 5,200 4,920 5,034 2,913 (7%)
Praxair Inc. 5,309 6,163 6,639 6,872 7,378 6,441 4%
Reliance Industries Ltd. 11,821 15,443 19,172 25,112 22,426 22,432 14%
Rhodia S.A. 5,281 5,085 4,810 5,081 4,763 4,031 (5%)
Royal DSM N.V. 7,752 8,195 8,352 8,757 9,297 7,866 0%
Royal Dutch Shell plc 213,504 246,918 254,311 260,030 313,248 200,062 (1%)
Sasol limited 7,296 8,813 8,225 10,463 12,242 11,879 10%
Saudi Basic Industries Corporation – SABIC 14,716 16,793 18,336 24,628 27,808 19,783 6%
Sherwin Williams 4,922 5,785 6,225 5,851 5,453 5,102 1%
Shin-Etsu Chemical Co Ltd 7,159 8,192 8,704 8,520 8,526 8,526 4%
Sinopec Corp. 60,367 78,553 104,361 112,879 139,987 141,809 19%
Solvay S.A. 7,877 8,562 9,399 9,572 9,490 8,485 1%
Syngenta AG 5,852 6,524 6,417 6,753 7,944 7,905 6%
Teijin 6,722 6,810 6,744 6,417 7,349 7,255 2%
Total S.A 122,700 143,168 153,802 158,752 179,976 131,327 1%
Operating Profits and Operating Profit Margins

(of Chemical Segments)
(in millions )
Operating Profit Operating Profit Margin in %

Company
2004 2005 2006 2007 2008 2009 2004 2005 2006 2007 2008 2009
Air Liquide S.A. 1,351 1,567 1,639 1,811 1,602 1,665 16 17 17 18 15 16%
Air Products & Chemicals Inc. 754 786 871 1,001 1,011 836 13 12.9 14 15 15 15%
Akzo Nobel N.V. 1,122 696 966 939 1,034 995 1,174 7 10 9 10 11%
Arkema S.A. (594) (386) 108 221 197 (69) (11) (7) 2 4 4 (2%)
Asahi Kasai Corporation 386 358 406 448 (9) (10) 7 6 7 7 0 0%
Ashland Inc. 222 273 155 147 142 280 5 5 3 3 3 5%
BASF SE 3,518 3,827 3,500 4,302 2,619 2,015 11 12 8 9 5 6%
Bayer AG 1,207 2,059 1,449 1,590 1,363 891 6 12 8 9 8 6%
Borealis GmbH 278 236 353 451 163 24 6 5 6 0 2 1%
Braskem S.A. 186 258 30 470 427 720 6 6 1 7 6 13%
Celanese Corporation 105 452 596 547 301 209 3 9 11 12 6 6%
Chevron Phillips Chemical 569 752 1,151 599 274 508 8 9 12 7 3 8%
Company LLC
Clariant AG 343 238 245 169 144 (13) 6 5 5 3 3 0%
Dainippon Inks & Chemicals 356 359 343 300 180 180 5 5 5 4 3 3%
Inc.
The Dow Chemical Company 3,588 5,605 4,309 3,423 1,28 1,439 11 15 11 9 3 4%
DuPont 1,161 2,864 3,022 3,006 2,690 2,015 5 13 14 14 13 11%
Eastman Chemical Company 141 609 510 353 367 228 3 11 9 7 8 6%
ENI S.p.A. 271 202 172 4 (822) (675) 5 3 3 1 (14) (17%)
Evonik Industries AG (formerly 851 (86) 879 1,031 562 NA 8 (1) 8 9 4 NA
Degussa)
Exxon Mobil Corporation NA NA NA NA 2,021 698 NA NA NA NA 5 7%
Formosa Petrochemical 1,221 1,409 1,245 1,690 524 868 16 14 10 11 3 7%
Corporation
Hitachi Chemical 213 391 372 374 142 153 0 0 0 0 0 4%
Huntsman Corporation 329 655 587 237 113 (51) 4 6 7 3 2 (1%)
Ineos Group Limited NA NA NA NA NA NA NA NA NA NA NA NA
Lanxess AG 59 28 376 215 322 149 1 0 5 3 5 3%
LG Chem, Ltd. 371 331 279 603 832 831 7 6 4 7 9 15%
Linde AG 640 721 993 1,108 1,260 2,378 16 16 16 12 13 27%
Lyondell-Basell 85 504 54 759 (2,242) (145) 2 4 4 6 (10) (1%)
Mitsubishi Chemical 893 728 584 400 (467) (394) 7 5 4 3 (2) (5%)
Corporation
Mitsui Chemicals Inc. 596 426 612 478 (323) (323) 7 4 5 4 (3) (3%)
Nova Chemicals Corporation 213 (3) (542) 404 30 (90) 5 0 (10) 8 1 (3%)
PPG Industries, Inc. 860 0 916 860 775 620 15 0 15 13 11 10%
Praxair Inc. 888 1,041 1,212 1,305 1,287 1,133 17 17 18 19 17 18%
Reliance Industries Ltd. 668 877 933 1,249 1,051 6,848 14 16 13 13 13 85%
Rhodia S.A. (348) 97 359 448 309 160 (7) 2 7 9 6 4%
Royal DSM N.V. 489 808 809 647 858 535 6 10 10 7 9 7%
Royal Dutch Shell plc 1,078 1,322 954 1,499 (681) 2,196 5 5 3 5 (2) 1%
Sasol limited 139 347 218 458 622 (193) 9 18 9 8 10 (3%)
Saudi Basic Industries 5,047 NA 3,663 NA 3,819 NA 34 NA 23 NA 17 NA
Sherwin Williams 463 552 659 732 642 676 9 10 11 13 12 15%
Shin-Etsu Chemical Co Ltd 1,123 1,346 1,608 1,777 1,654 591 16 16 18 21 19 12%
Sinopec Corp. 1,823 1,405 1,722 1,280 (1,291) 1,435 15 9 8 6 (6) 6%
Solvay S.A. 460 643 422 772 520 249 9 9 6 11 8 4%
Sumitomo Chemical Co. Ltd. 481 557 512 332 (146) (146) 6 6 5 4 (1) (1%)
Syngenta AG 436 692 661 1,070 1,270 1,270 7 11 10 16 16 16%
Teijin 384 557 501 403 140 171 0 0 0 0 0 3%
Toray Industries Inc. 547 593 600 557 213 230 7 7 7 6 2 2%
Tosoh Corporation 334 279 355 345 (165) (178) 8 6 7 7 (3) (3%)
Total S.A 1,086 997 996 1,424 (58) 249 5 4 5 7 0 2%
Yara International ASA 428 477 633 866 1,917 350 8 8 11 12 18 5%
Selling, General and Administrative (SGA) Expenses

and SGA Ratio
(in millions )
Selling General and Administrative Expense SGA Ratio in %

Company
2004 2005 2006 2007 2008 2009 2004 2005 2006 2007 2008 2009
Air Liquide S.A. NA NA NA NA NA NA NA NA NA NA NA NA
Air Products & Chemicals Inc. 797 810 879 888 726 678 13 13 12 12 11 11
Akzo Nobel N.V. 3,931 3,990 4,185 2,884 4,368 4,302 31 31 31 28 28 31
Arkema S.A. 420 437 417 397 393 357 8 8 7 7 7 8
Asahi Kasai Corporation 1,860 1,906 1,814 1,734 1,990 2,156 18 18 17 17 18 18
Ashland Inc. 963 1,016 876 796 777 964 14 14 15 15 14 17
BASF SE 5,238 5,110 5,889 6,653 6,835 6,800 14 12 11 12 11 13
Bayer AG 7,869 7,157 6,554 9,554 9,754 9,546 26 26 22 30 30 31
Borealis GmbH 582 586 624 716 818 633 13 12 11 11 12 13
Braskem S.A. 150 249 386 460 441 427 5 6 8 7 7 8
Celanese Corporation 511 452 429 377 369 337 13 9 8 8 8 9
Chevron Phillips Chemical 351 372 387 368 364 352 5 4 4 4 4 6
Company LLC
Clariant AG 1,183 1,101 1,095 1,081 1,032 974 21 21 21 21 20 22
Dainippon Inks & Chemicals 1,270 NA 1,088 1,089 1,064 1,064 17 NA 16 16 16 16
Inc.
The Dow Chemical Company 1,156 1,244 1,326 1,362 1,346 1,789 4 3 3 4 3 5
DuPont 2,529 2,595 2,587 2,459 2,455 2,474 12 12 12 12 12 13
Eastman Chemical Company 362 365 349 307 286 287 7 6 6 6 6 8
ENI S.p.A. NA NA NA NA NA NA NA NA NA NA NA NA
Evonik Industries AG 2,158 2,158 1,557 1,490 987 1,682 19 18 14 14 6 13
(formerly Degussa)
Exxon Mobil Corporation 11,150 11,594 11,384 10,883 10,916 10,597 5 4 4 4 4 5
Formosa Petrochemical 203 223 240 254 203 206 2 2 2 2 1 1
Corporation
Hitachi Chemical 242 783 729 609 574 622 0 0 0 0 0 17
Huntsman Corporation 559 545 634 636 603 618 6 5 8 9 9 11
Lanxess AG 1,144 1,148 1,020 915 928 765 24 16 15 14 14 15
LG Chem, Ltd. 582 704 837 829 501 498 12 12 11 10 6 6
Linde AG 2,037 2,034 2,672 2,938 2,830 2,566 22 21 22 24 22 23
Lyondell-Basell 228 437 495 455 818 611 5 3 3 4 2 3
Mitsubishi Chemical 2,753 NA 2,599 NA NA 3,465 17 NA 15 NA NA 17
Corporation
Mitsui Chemicals Inc. 1,323 NA 1,052 NA NA 1,363 15 NA 9 NA NA 13
Nova Chemicals Corporation 220 162 NA 145 154 194 5 4 NA 3 3 7
PPG Industries, Inc. 1,381 1,426 1,579 1,561 2,345 2,111 18 17 18 19 22 24
Praxair Inc. 700 795 866 870 897 782 13 13 13 13 12 12
Reliance Industries Ltd. 566 1,178 NA NA NA 143 5 8 NA NA NA 1
Rhodia S.A. 534 574 518 517 482 504 10 11 11 10 10 13
Royal DSM N.V. NA NA NA NA NA NA NA NA NA NA NA NA
Royal Dutch Shell plc 9,935 12,463 13,253 12,148 11,637 12,535 5 5 5 5 4 6
Sasol limited 1,051 1,167 854 1,270 1,284 1,433 14 13 10 12 11 12
Saudi Basic Industries 736 840 855 1,347 1,976 1,657 5 5 5 6 7 8
Sherwin Williams 1,666 1,871 2,003 1,898 1,807 1,823 34 32 32 32 33 36
Shin-Etsu Chemical Co Ltd 745 808 871 881 813 813 10 10 10 10 10 10
Sinopec Corp. 3,102 3,314 3,772 3,639 6,494 4,270 5 4 4 3 5 (3)
Solvay S.A. 1,320 1,417 1,559 1,523 1,567 1,482 17 17 17 16 17 17
Sumitomo Chemical Co. Ltd. 1,904 2,159 2,083 2,103 2,652 2,652 20 19 17 18 21 21
Syngenta AG 1,637 1,819 1,705 1,639 1,974 1,834 28 28 27 24 25 23
Teijin 1,263 1,260 1,227 1,184 1,425 1,254 0 0 0 0 0 17
Toray Industries Inc. 1,162 1,527 NA NA NA 1,749 12 15 NA NA NA 15
Tosoh Corporation 549 551 590 657 750 812 13 12 11 13 14 14
Total S.A 19,279 20,132 18,989 NA NA NA 16 14 12 NA NA NA
Yara International ASA 150 123 72 171 20 151 3 2 1 2 2 2
R&D Expenditures and R&D to Sales Ratio

(in millions )
R&D Expenditure R&D-to-Sales Ratio in %

Company
2004 2005 2006 2007 2008 2009 2004 2005 2006 2007 2008 2009
Air Liquide S.A. 103 107 116 134 160 NA 1 1 1 1 1 NA
Air Products & Chemicals Inc. 104 104 123 105 87 84 2 2 2 1 1 1
Akzo Nobel N.V. 823 834 885 282 353 338 7 6 6 3 2 2
Arkema S.A. 183 188 168 158 150 136 3 3 3 3 3 3
Asahi Kasai Corporation 375 NA 249 348 432 468 4 NA 2 3 4 4
Ashland Inc. 35 35 39 34 35 69 1 1 1 1 1 1
BASF SE 1,173 1,064 1,277 1,380 1,355 1,398 3 3 2 2 2 3
Bayer AG 2,107 1,886 2,297 2,578 2,653 2,746 7 7 8 8 8 9
Borealis GmbH 41 41 45 49 80 79 1 1 1 1 1 2
Braskem S.A. NA NA NA NA NA NA NA NA NA NA NA NA
Celanese Corporation 72 73 56 53 55 54 2 2 1 1 1 1
Chevron Phillips Chemical 34 33 32 31 27 27 1 0 0 0 0 0
Company LLC
Clariant AG 178 141 132 128 116 99 3 3 3 3 2 2
Dainippon Inks & Chemicals Inc. 118 NA 103 96 NA 105 2 NA 2 1 NA 2
The Dow Chemical Company 823 864 928 954 895 1,073 3 2 2 2 2 3
DuPont 1,073 1,075 1,038 978 952 991 5 5 5 5 5 5
Eastman Chemical Company 124 130 133 114 108 99 2 2 2 2 2 3
ENI S.p.A. 257 204 222 208 217 207 0 0 0 0 0 0
Evonik Industries AG 348 350 304 306 311 300 3 3 3 3 2 2
Exxon Mobil Corporation 523 573 585 595 579 755 0 0 0 0 0 0
Formosa Petrochemical 2 2 0 45 0 0 0 0 0 0 0 0
Corporation
Hitachi Chemical NA NA NA NA NA 212 NA NA NA NA NA 6
Huntsman Corporation 67 77 92 106 105 104 1 1 1 2 2 2
Lanxess AG 123 101 87 88 97 101 3 1 1 1 2 2
LG Chem, Ltd. NA NA 165 NA 135 0 NA NA 2 NA 2 0
Linde AG 177 174 201 97 104 89 2 2 2 1 1 1
Lyondell-Basell 33 73 75 95 133 104 1 1 0 1 0 0
Mitsubishi Chemical Corporation 660 NA 608 694 907 907 4 NA 4 4 4 4
Mitsui Chemicals Inc. NA NA 246 261 288 288 NA NA 2 2 3 3
Nova Chemicals Corporation 39 40 41 37 36 29 1 1 1 1 1 1
PPG Industries, Inc. 244 249 254 248 308 279 3 3 3 3 3 3
Praxair Inc. 62 64 69 72 66 53 1 1 1 1 1 1
Reliance Industries Ltd. 11 21 NA NA NA NA 0 0 NA NA NA NA
Rhodia S.A. 156 124 103 96 73 73 3 2 2 2 2 2
Royal DSM N.V. 286 290 327 372 394 393 4 4 4 4 4 5
Royal Dutch Shell plc 445 473 706 878 865 809 0 0 0 0 0 0
Sasol limited NA NA NA NA 72 79 NA NA NA NA 1 1
Saudi Basic Industries NA NA NA NA NA 102 NA NA NA NA NA 1
Sherwin Williams 67 69 74 75 25 73 1 1 1 1 1 1
Shin-Etsu Chemical Co Ltd 207 232 278 297 264 266 3 3 3 4 3 3
Sinopec Corp. 148 220 290 327 338 402 0 0 0 0 0 0
Solvay S.A. 413 472 563 556 564 555 5 6 6 6 6 7
Sumitomo Chemical Co. Ltd. 579 NA NA NA NA 931 6 NA NA NA NA 7
Syngenta AG 651 662 635 607 662 690 11 10 10 9 8 9
Teijin NA NA NA NA NA 289 NA NA NA NA NA 4
Toray Industries Inc. 272 288 282 284 NA 384 3 3 3 3 NA 3
Tosoh Corporation 63 68 79 NA NA 0 2 1 2 NA NA 0
Total S.A 635 676 569 NA NA 323 1 1 0 NA NA 0
Yara International ASA 16 13 6 12 15 10 0 0 0 0 0 0
Total Assets
(in millions )
2004 2005 2006 2007 2008 2009 CAGR

Air Liquide S.A. 14,425 16,288 16,295 18,292 20,605 20,626 7%
Air Products & Chemicals Inc. 8,257 8,643 8,814 8,877 8,703 9,090 2%
Akzo Nobel N.V. 12,405 12,425 12,785 19,243 18,734 18,880 9%
Arkema S.A. 4,455 4,674 4,541 4,436 4,473 3,945 (2%)
Ashland Inc. 6,170 5,364 5,195 4,155 3,995 6,591 1%
BASF SE 33,916 35,670 45,291 46,802 50,860 51,268 9%
Bayer AG 37,804 36,722 55,891 51,378 52,511 51,042 6%
Borealis GmbH 3,140 3,444 3,671 4,631 4,828 4,816 9%
Braskem S.A. 4,136 5,635 5,788 8,028 6,878 8,893 17%
Celanese Corporation 5,432 6,292 5,986 5,475 5,084 5,868 2%
Chevron Phillips Chemical Company 5,038 5,882 5,398 4,913 4,736 5,176 1%
LLC
Clariant AG 5,056 4,706 4,467 4,394 3,995 4,096 (4%)
DuPont 26,122 28,100 24,093 23,189 25,689 26,642 0%
ENI S.p.A. 69,112 83,850 88,312 101,460 116,590 117,529 11%
Evonik Industries AG (formerly 13,633 13,498 13,427 12,868 20,099 18,907 7%
Degussa)
Exxon Mobil Corporation 143,142 176,064 166,057 164,471 161,794 162,789 3%
Hitachi Chemical 1,512 3,127 2,995 2,927 3,049 2,961 14%
Ineos Group Limited NA NA NA NA NA NA NA
Lanxess AG 4,577 4,341 4,205 4,049 4,651 5,068 2%
LG Chem, Ltd. 4,060 4,680 4,733 5,125 4,530 5,012 4%
Linde AG 11,591 12,526 27,996 24,955 23,824 24,381 16%
Lyondell-Basell 11,677 12,660 13,531 27,780 20,327 15,015 5%
Mitsubishi Chemical Corporation 14,385 14,910 14,748 17,652 21,338 21,338 8%
Nova Chemicals Corporation 3,700 5,890 3,150 3,286 2,862 3,860 1%
Praxair Inc. 7,242 8,445 8,418 9,092 9,261 9,989 7%
Reliance Industries Ltd. 11,128 14,731 NA 23,517 21,666 35,947 26%
Rhodia S.A. 5,468 5,646 5,153 4,478 4,324 4,266 (5%)
Royal DSM N.V. 8,936 10,025 10,114 9,828 9,653 9,614 1%
Royal Dutch Shell plc 141,350 185,513 178,386 183,078 200,352 203,855 8%
Sasol limited 7,716 10,955 11,257 12,502 11,229 13,764 12%
Saudi Basic Industries Corporation – 24,427 30,855 33,684 46,535 51,378 55,246 18%
SABIC
Sherwin Williams 3,133 3,689 3,786 3,298 3,132 3,017 (1%)
Shin-Etsu Chemical Co Ltd 10,777 11,717 11,830 12,244 13,117 13,117 4%
Sinopec Corp. 42,092 56,258 59,429 68,253 79,908 89,803 16%
Solvay S.A. 10,037 11,240 11,101 11,180 12,264 12,546 5%
Syngenta AG 8,803 9,810 8,986 9,022 10,347 11,649 6%
Teijin 6,135 6,646 6,359 6,482 6,810 6,613 2%
Total S.A 84,161 106,144 105,223 113,541 118,310 127,753 9%
Fixed to Total Asset Ratio

(in millions )
Fixed Assets Incl. Investments Fixed Assets/Total Assets in %

Company
2004 2005 2006 2007 2008 2009 2004 2005 2006 2007 2008 2009
Air Liquide S.A. 7,123 8,335 8,163 8,533 9,663 10,597 49 51 50 47 47 51
Air Products & Chemicals Inc. 5,207 5,142 5,432 5,340 5,149 5,392 63 59 62 60 59 53
Akzo Nobel N.V. 3,869 3,717 3,523 2,345 3,558 3,649 31 30 28 12 19 19
Arkema S.A. 1,381 1,340 1,476 1,567 1,691 2,906 31 29 33 17 38 41
Ashland Inc. 3,264 1,119 1,582 718 1,896 1,517 53 21 30 1 47 22
BASF SE 13,763 14,231 15,552 15,050 16,178 17,625 41 40 34 32 32 34
Bayer AG 10,083 9,116 9,399 9,303 9,942 9,804 27 25 17 18 19 19
Borealis GmbH 1,703 1,824 1,994 2,584 2,895 3,073 54 53 54 56 60 51
Braskem S.A. 1,499 3,657 4,318 3,247 3,846 4,992 36 65 75 40 56 56
Celanese Corporation 1,688 2,379 2,212 2,158 2,314 2,503 31 38 37 39 46 33
Chevron Phillips Chemical 3,417 3,919 3,582 3,102 3,466 3,516 68 67 66 63 73 68
Company LLC
Clariant AG 1,727 1,855 1,684 1,626 1,535 1,479 34 39 38 37 38 32
Dainippon Inks & Chemicals Inc. 3,191 NA 2,042 2,014 2,308 2,311 44 NA 32 32 40 40
DuPont 8,253 9,425 8,568 7,934 8,512 8,448 32 34 36 34 33 32
Eastman Chemical Company 2,760 2,989 2,327 1,934 2,269 2,170 64 61 50 47 61 56
ENI S.p.A. 40,898 48,903 48,198 55,776 64,626 69,005 59 58 55 55 55 59
Evonik Industries AG (formerly 4,989 5,103 4,132 4,303 6,300 6,337 37 38 31 33 31 34
Degussa)
Formosa Petrochemical 5,523 6,846 6,418 6,227 5,935 5,436 67 66 63 61 64 56
Corporation
Hitachi Chemical 406 1,217 1,142 1,056 1,211 1,102 27 39 38 36 40 36
Huntsman Corporation 3,901 4,072 3,230 2,729 2,778 2,628 56 41 50 49 49 41
Lanxess AG 1,606 1,552 1,470 1,492 1,695 1,835 35 36 35 37 35 36
LG Chem, Ltd. 1,754 2,056 3,241 3,094 2,632 2,819 43 44 68 60 48 46
Linde AG 3,717 9,456 8,368 7,729 7,697 8,125 32 75 30 31 30 33
Lyondell-Basell 5,904 6,174 7,525 18,896 13,126 10,660 51 49 56 68 65 71
Mitsubishi Chemical 4,927 4,814 4,607 5,443 6,493 8,893 34 32 31 31 30 42
Corporation
Mitsui Chemicals Inc. 3,802 3,732 4,691 4,741 4,950 5,133 43 40 49 51 53 55
Nova Chemicals Corporation 2,640 3,217 2,147 2,190 2,121 2,561 71 55 68 67 74 65
Praxair Inc. 4,513 5,346 5,241 5,673 5,915 6,576 62 63 62 62 64 63
Reliance Industries Ltd. 7,936 10,321 NA 19,607 18,063 20,331 71 70 NA 83 83 57
Rhodia S.A. 2,087 2,139 1,764 1,699 1,514 1,470 38 38 34 38 35 34
Royal DSM N.V. 3,809 3,793 3,681 3,460 3,660 3,485 43 38 36 35 38 36
Sasol limited 4,970 7,116 6,923 5,377 5,311 6,846 64 65 62 43 47 48
Saudi Basic Industries 13,007 15,450 16,884 23,343 27,973 30,862 53 50 50 50 54 56
Sherwin Williams 528 629 628 611 610 571 17 17 17 19 19 19
Shin-Etsu Chemical Co Ltd 3,517 3,716 3,469 4,178 4,746 5,344 33 32 29 34 36 41
Sinopec Corp. 29,520 38,296 41,016 37,998 44,971 51,093 70 68 69 56 56 57
Solvay S.A. 3,453 3,784 3,869 3,885 4,405 4,130 34 34 35 35 36 33
Sumitomo Chemical Co. Ltd. 3,766 NA 3,966 NA NA 7,415 31 NA 27 NA NA 47
Syngenta AG 1,688 1,673 1,551 1,513 1,552 1,910 19 17 17 17 15 16
Teijin 2,861 3,269 3,124 2,986 3,118 3,315 47 49 49 46 46 39
Toray Industries Inc. 4,354 4,110 4,092 NA 4,640 6,485 43 38 38 NA NA 39
Tosoh Corporation 1,997 1,943 2,157 2,714 2,792 2,579 46 43 43 52 47 42
Total S.A 46,296 53,130 53,907 56,747 60,810 65,214 55 50 51 50 51 51
Yara International ASA 1,132 1,494 1,655 2,071 3,239 3,313 34 39 41 35 40 45
Equity and Equity Ratio

(in millions )
Equity Equity/Ratio in %
Company
2004 2005 2006 2007 2008 2009 2004 2005 2006 2007 2008 2009
Air Liquide S.A. 5,274 6,209 6,567 6,328 7,006 7,752 37 38 40 35 34 38
Air Products & Chemicals Inc. 3,655 3,799 3,882 3,854 3,483 3,343 44 44 44 43 40 37
Akzo Nobel N.V. 3,036 3,415 4,263 11,129 7,913 8,245 24 27 33 58 42 44
Arkema S.A. 1,753 1,463 1,938 1,935 2,018 1,836 39 31 43 44 45 47
Ashland Inc. 2,225 2,943 2,441 2,305 2,217 2,501 36 55 47 55 55 38
BASF SE 15,765 17,524 18,578 20,098 18,722 18,609 46 49 41 43 37 36
Bayer AG 12,268 11,157 12,767 16,734 16,236 18,951 32 30 23 33 31 37
Borealis GmbH 1,488 1,549 1,827 2,316 2,330 2,396 47 45 50 50 48 50
Braskem S.A. 1,163 1,639 1,530 2,212 1,115 1,908 28 29 26 28 16 21
Celanese Corporation (82) 199 597 722 129 407 (2) 3 10 13 3 7
Chevron Phillips Chemical 2,914 3,406 3,213 2,826 2,941 3,268 58 58 60 58 62 63
Company LLC
Clariant AG 1,426 1,665 1,512 1,431 1,335 1,275 28 35 34 33 33 31
Dainippon Inks & Chemicals 1,053 1,319 1,355 1,631 1,482 1,482 14 19 21 26 26 26
Inc.
DuPont 8,340 7,527 7,144 7,566 5,055 5,034 32 27 30 33 20 19
Eastman Chemical Company 868 1,362 1,538 1,415 1,102 1,056 20 28 33 35 29 27
ENI S.p.A. 30,338 39,217 41,199 42,867 48,510 50,051 44 47 47 42 42 43
Evonik Industries AG 4,681 4,186 4,527 4,651 5,192 5,214 34 31 34 36 26 28
(formerly Degussa)
Formosa Petrochemical 4,154 5,409 5,064 5,400 4,198 5,039 51 52 50 53 45 52
Corporation
Hitachi Chemical 953 1,515 1,707 1,754 2,053 1,982 63 48 57 60 67 67
Huntsman Corporation (280) 1,285 1,316 1,249 1,142 1,287 (4) 13 21 22 20 21
Lanxess AG 1,331 1,256 1,428 1,525 1,407 1,445 29 29 34 38 30 29
LG Chem, Ltd. 1,569 2,040 2,133 2,819 2,756 3,288 39 44 45 55 61 66
Linde AG 4,081 4,413 8,225 9,210 8,249 8,736 35 35 29 37 35 36
Lyondell-Basell 1,960 2,542 2,417 1,624 (4,314) (6,263) 17 20 18 6 (21) (42)
Mitsubishi Chemical 3,256 4,600 4,172 5,283 5,208 5,389 23 31 28 30 24 25
Corporation
Mitsui Chemicals Inc. 2,962 3,253 3,209 3,060 2,724 2,837 34 35 34 33 29 31
Nova Chemicals Corporation 1,240 1,030 414 748 648 1,721 34 17 13 23 23 45
Praxair Inc. 2,645 3,298 3,453 3,493 2,844 3,708 37 39 41 38 31 37
Reliance Industries Ltd. 7,126 9,420 9,869 13,579 12,510 1,251 64 64 NA 58 58 3
Rhodia S.A. 70 (666) (628) (389) (375) (735) 1 (12) (12) (9) (9) (17)
Royal DSM N.V. 4,834 5,541 5,784 5,310 4,633 4,949 54 55 57 54 48 51
Sasol limited 3,717 5,451 5,774 6,643 6,331 8,137 48 50 51 53 56 59
Saudi Basic Industries 9,947 14,045 14,737 16,554 19,464 20,146 41 46 44 36 38 36
Sherwin Williams 1,207 1,642 1,510 1,213 1,139 1,040 39 45 40 37 36 34
Shin-Etsu Chemical Co Ltd 7,273 8,229 7,997 8,929 10,956 11,545 67 70 68 73 84 88
Sinopec Corp. 17,121 26,489 25,533 28,637 34,205 38,430 41 47 43 42 43 43
Solvay S.A. 3,792 3,920 4,456 4,459 4,745 5,160 38 35 40 40 39 41
Sumitomo Chemical Co. Ltd. 4,158 NA 5,041 NA NA NA 35 NA 34 NA NA NA
Syngenta AG 4,163 4,590 4,317 4,104 4,187 4,992 47 47 48 45 40 43
Teijin 2,092 2,384 2,593 2,624 2,571 2,442 34 36 41 40 38 37
Toray Industries Inc. 3,303 3,765 3,753 3,786 3,652 4,046 32 35 35 35 31 35
Tosoh Corporation 922 1,221 1,110 1,547 1,208 1,217 21 27 22 30 20 21
Total S.A 31,260 41,483 41,148 45,700 49,950 53,539 37 39 39 40 42 42
Yara International ASA 1,288 1,665 1,948 2,663 3,053 3,466 39 43 48 45 37 47
Capital Expenditures
(in millions )
CAPEX CAPEX as a % of Revenue

Company
2004 2005 2006 2007 2008 2009 2004 2005 2006 2007 2008 2009
Air Liquide S.A. 998 1,051 1,200 1,359 1,908 1,411 11 10 11 12 15 12%
Air Products & Chemicals Inc. 671 821 934 1,201 772 889 11 13 13 16 11 15%
Akzo Nobel N.V. 551 514 529 359 534 534 4 4 4 4 3 4%
Arkema S.A. 300 333 348 325 335 301 6 6 6 6 6 7%
Asahi Kasai Corporation 507 482 563 510 412 975 5 4 5 5 4 8%
Ashland Inc. 173 299 291 105 137 125 3 4 5 2 2 2%
BASF SE 2,186 2,523 2,411 2,562 2,521 2,507 6 6 5 4 4 5%
Bayer AG 1,275 1,388 1,876 1,860 1,860 1,575 4 5 6 6 6 5%
Borealis GmbH 192 221 234 457 445 308 4 5 4 7 7 7%
Braskem S.A. 103 260 349 516 163 NA 3 6 7 8 2 NA
Celanese Corporation 169 171 201 210 187 127 4 3 4 4 4 3%
Chevron Phillips Chemical 162 142 152 229 270 118 2 2 2 3 3 2%
Company LLC
Clariant AG 192 228 228 190 10 89 3 4 4 4 3 2%
Dainippon Inks & Chemicals 338 NA 290 241 302 312 5 NA 4 4 5 5%
Inc.
The Dow Chemical Company 1,073 1,286 1,416 1,517 1,555 1,014 3 3 4 4 4 3%
DuPont 992 1,079 1,222 1,241 1,352 941 5 5 6 6 6 5%
Eastman Chemical Company 200 276 310 379 433 223 4 5 5 8 9 6%
ENI S.p.A. 7,503 7,414 7,833 10,593 14,562 13,695 13 10 9 12 13 16%
Evonik Industries AG (formerly 751 814 635 627 1,160 849 7 7 6 6 7 6%
Degussa)
Exxon Mobil Corporation 11,996 14,249 12,332 15,209 13,560 19,452 5 5 4 5 4 9%
Formosa Petrochemical 501 924 771 NA 265 121 6 8 6 NA 1 1%
Corporation
Hitachi Chemical 218 254 244 212 258 277 0 0 0 0 0 7%
Huntsman Corporation 182 273 439 485 286 136 2 3 5 7 4 2%
Lanxess AG 275 243 257 279 356 332 6 3 4 4 5 7%
LG Chem, Ltd. 265 355 493 382 449 529 5 6 6 4 5 7%
Linde AG 1,037 906 971 1,035 1,470 1,137 11 10 8 8 12 10%
Lyondell-Basell 67 200 319 283 683 560 1 1 2 2 2 3%
Mitsubishi Chemical 497 711 873 1,053 987 987 3 4 5 6 5 5%
Corporation
Mitsui Chemicals Inc. 349 NA 485 524 575 575 4 NA 4 5 5 5%
Nova Chemicals Corporation 183 337 158 114 113 73 4 7 3 2 2 2%
PPG Industries, Inc. 196 232 297 258 262 191 3 3 3 3 2 2%
Praxair Inc. 538 706 877 1,006 1,101 972 10 11 13 15 15 15%
Reliance Industries Ltd. 955 2,266 1,545 3,425 3,818 3,789 8 15 8 14 17 17%
Rhodia S.A. 188 286 311 324 282 191 4 6 6 6 6 5%
Royal DSM N.V. 334 974 501 568 541 385 4 12 6 6 6 5%
Royal Dutch Shell plc 10,015 12,588 18,283 17,962 23,996 19,845 5 5 7 7 8 10%
Sasol limited 1,321 1,580 1,323 1,284 1,023 1,351 18 18 16 12 8 11%
Saudi Basic Industries NA NA NA 10,011 4,901 NA NA NA NA 41 18 NA
Sherwin Williams NA 105 153 121 NA 65 NA 2 2 2 NA 1%
Shin-Etsu Chemical Co Ltd 816 1,056 1,405 1,576 1,347 1,132 11 13 16 19 16 13%
Sinopec Corp. 6,583 6,206 7,053 10,509 10,575 11,599 11 8 7 9 8 8%
Solvay S.A. 564 1,930 858 777 1,320 567 7 23 9 8 14 7%
Sumitomo Chemical Co. Ltd. 931 907 1,066 882 952 952 10 8 9 8 8 7%
Syngenta AG 134 140 173 232 303 469 2 2 3 3 4 6%
Teijin 325 469 445 488 538 583 0 0 0 0 0 8%
Toray Industries Inc. 541 747 803 918 648 710 6 7 8 9 6 6%
Tosoh Corporation 281 200 497 NA 398 0 6 4 10 NA 8 0%
Total S.A 8,668 11,195 11,852 11,722 11,861 13,349 7 8 8 7 7 10%
Yara International ASA 146 329 433 1,107 1,652 697 3 6 0 16 15 10%
EPS (Diluted)
( )
Company 2004 2005 2006 2007 2008 2009 CAGR

Air Liquide S.A. 7 9 8 5 5 5 (8%)
Air Products & Chemicals Inc. 2 2 3 4 3 2 0%
Akzo Nobel N.V. 3 3 2 1 (4) 1 (17%)
Arkema S.A. NA (9) 1 2 2 (3) NA
Asahi Kasai Corporation 0 0 0 0 0 0 (39%)
Ashland Inc. 5 21 5 2 2 1 (30%)
BASF SE 3 6 6 8 3 2 (15%)
Bayer AG 1 2 2 3 2 2 15%
Borealis GmbH NA NA NA NA 0 NA NA
Braskem S.A. NA NA NA 1 (2) 1 NA
Celanese Corporation (1) 1 2 1 2 2 (209%)
Chevron Phillips Chemical Company NA NA NA NA 0 NA NA
LLC
Clariant AG 0 1 0 0 0 (1) (206%)
Dainippon Inks & Chemicals Inc. 0 0 NA NA 0 0 (25%)
The Dow Chemical Company 2 4 3 2 0 0 (37%)
DuPont 1 2 3 2 2 1 (1%)
Eastman Chemical Company 2 5 4 3 3 1 (5%)
ENI S.p.A. 2 2 2 3 2 1 (9%)
Evonik Industries AG (formerly Degussa) 1 (2) 7 NA 1 1 (19%)
Exxon Mobil Corporation 3 5 5 5 6 3 (2%)
Formosa Petrochemical Corporation 1 2 1 0 0 0 (42%)
Hitachi Chemical NA NA NA NA NA NA NA
Huntsman Corporation (1) 0 1 (1) 1 0 (179%)
Ineos Group Limited NA NA NA NA NA NA NA
Lanxess AG 0 (1) 2 1 2 0 (234%)
LG Chem, Ltd. 6 5 4 7 8 11 12%
Linde AG 2 4 12 6 4 3 9%
Lyondell-Basell 0 2 1 1 NA 43 185%
Mitsubishi Chemical Corporation 0 1 0 1 0 0 (213%)
Mitsui Chemicals Inc. 0 NA 0 0 NA (1) (229%)
Nova Chemicals Corporation 2 (1) (7) 3 0 NA NA
PPG Industries, Inc. 3 3 3 4 2 1 (14%)
Praxair Inc. 2 2 2 3 3 3 11%
Reliance Industries Ltd. 1 1 1 2 2 1 9%
Rhodia S.A. (1) (1) 0 1 1 (1) (5%)
Royal DSM N.V. 3 3 3 2 3 2 (4%)
Royal Dutch Shell plc NA 3 3 4 3 1 NA
Sasol limited 76 135 171 256 390 196 21%
Saudi Basic Industries Corporation – 10 10 2 2 2 1 (35%)
SABIC
Sherwin Williams 2 3 3 3 3 NA NA
Shin-Etsu Chemical Co Ltd 2 2 2 3 3 3 11%
Sinopec Corp. 0 0 0 0 0 0 13%
Solvay S.A. 6 9 10 9 5 6 1%
Sumitomo Chemical Co. Ltd. 0 0 0 0 0 0 (197%)
Syngenta AG 3 5 5 8 10 11 25%
Teijin NA NA NA NA NA NA NA
Toray Industries Inc. 0 0 0 0 0 0 (187%)
Tosoh Corporation 0 0 0 NA 0 0 (198%)
Total S.A 12 20 5 6 5 4 (20%)
Yara International ASA 1 1 2 3 3 1 1%
Number of Employees
(end of fiscal year)
Company 2004 2005 2006 2007 2008 2009
Air Liquide S.A. 35,900 35,900 36,900 40,300 43,000 42,300
Air Products & Chemicals Inc. 19,300 20,200 20,700 22,100 21,100 18,900
Akzo Nobel N.V. 61,450 61,340 61,900 43,000 60,000 57,060
Arkema S.A. 18,556 17,718 16,521 16,600 14,983 13,800
Asahi Kasai Corporation 23,820 23,219 23,715 23,854 24,244 24,244
Ashland Inc. 21,200 20,900 11,700 11,700 11,900 14,700
BASF SE 81,955 80,945 95,247 95,715 96,924 104,779
Bayer AG 113,000 93,700 106,000 106,200 108,600 108,400
Borealis GmbH 4,547 4,536 4,602 5,060 5,385 5,215
Braskem S.A. NA NA 3,000 5,000 5,000 NA
Celanese Corporation 9,100 9,300 8,900 8,400 8,350 7,400
Chevron Phillips Chemical Company LLC 5,300 5,150 5,150 5,500 5,500 NA
Clariant AG 24,769 23,383 21,748 20,931 20,102 17,536
Dainippon Inks & Chemicals Inc. 26,757 25,915 25,413 25,167 25,167 23,613
The Dow Chemical Company 43,203 42,413 42,578 45,900 46,102 52,000
DuPont 60,000 60,000 59,000 60,000 60,000 58,000
Eastman Chemical Company 12,000 12,000 11,000 10,800 10,500 10,000
ENI S.p.A. 71,497 72,258 72,915 74,717 77,371 78,417
Evonik Industries AG (formerly Degussa) 44,566 45,553 41,088 33,847 41,185 39,768
Exxon Mobil Corporation 85,900 83,700 82,100 80,800 79,900 80,700
Formosa Petrochemical Corporation 3,477 3,679 3,825 3,897 3,897 6,275
Hitachi Chemical NA NA NA NA NA 15,289
Huntsman Corporation 11,300 10,800 NA 12,900 12,600 11,000
Ineos Group Limited NA NA 15,000 16,600 15,500 15,500
Lanxess AG 19,659 18,282 16,481 14,610 14,797 14,338
LG Chem, Ltd. NA 13,415 10,654 14,513 14,513 13,000
Linde AG 41,383 42,229 55,445 50,485 51,908 47,731
Lyondell-Basell 9,930 10,000 11,000 7,113 NA NA
Mitsubishi Chemical Corporation 33,261 32,955 33,447 39,305 41,480 41,480
Mitsui Chemicals Inc. 12,228 NA 12,511 12,814 12,964 12,964
Nova Chemicals Corporation 4,100 3,600 3,300 2,820 2,850 NA
PPG Industries, Inc. 31,800 30,800 32,200 34,900 44,900 39,900
Praxair Inc. 27,020 27,306 27,042 27,992 26,936 26,164
Reliance Industries Ltd. 12,113 12,540 NA NA NA 24,679
Rhodia S.A. 20,577 19,444 17,077 15,530 14,353 13,600
Royal DSM N.V. 24,180 21,820 22,156 23,254 23,500 22,700
Royal Dutch Shell plc 112,000 109,000 108,000 104,000 102,000 101,000
Sasol limited 30,910 30,004 31,460 31,860 33,928 33,544
Saudi Basic Industries Corporation – SABIC NA NA 19,000 31,000 NA 33,000
Sherwin Williams 28,690 29,434 30,767 31,572 30,677 29,220
Shin-Etsu Chemical Co Ltd 18,151 18,888 19,1 NA NA 19,170
Sinopec Corp. 389,451 364,528 340,886 344,377 358,304 371,333
Solvay S.A. 29,300 28,730 29,258 28,340 29,433 28,204
Sumitomo Chemical Co. Ltd. 20,195 24,160 24,691 NA NA 26,902
Syngenta AG 19,536 19,300 19,500 21,000 24,000 25,925
Teijin NA NA NA NA NA 19,453
Toray Industries Inc. 33,707 34,670 36,553 38,565 38,565 37,924
Tosoh Corporation 9,148 9,373 10,514 NA 11,316 11,166
Total S.A 111,401 112,877 95,070 96,442 96,959 96,387
Yara International ASA 7,067 6,792 7,060 8,173 7,971 7,629
Revenue per Employee

( )
Company 2004 2005 2006 2007 2008 2009

Air Liquide S.A. 261,170 290,669 269,713 292,829 304,721 283,123
Air Products & Chemicals Inc. 315,810 317,322 347,688 341,703 328,738 314,155
Akzo Nobel N.V. 206,477 211,933 221,922 237,605 256,917 243,481
Arkema S.A. 286,592 322,271 342,836 341,867 375,959 322,029
Asahi Kasai Corporation 428,000 468,775 456,770 440,312 454,835 492,633
Ashland Inc. 322,016 349,120 502,724 452,076 469,075 396,565
BASF SE 458,015 528,073 552,350 608,892 642,813 483,809
Bayer AG 263,345 292,241 282,604 304,944 303,112 287,528
Borealis GmbH 1,017,814 1,061,287 1,247,718 1,254,941 1,243,640 903,931
Braskem S.A. NA NA 1,591,153 1,327,854 1,356,052 NA
Celanese Corporation 448,467 525,414 587,535 560,682 558,432 493,888
Chevron Phillips Chemical 1,403,304 1,673,618 1,833,551 1,665,586 1,571,346 NA
Company LLC
Clariant AG 223,163 225,946 236,802 248,203 253,203 249,854
Dainippon Inks & Chemicals 277,360 281,619 266,615 265,117 263,016 280,354
Inc.
The Dow Chemical Company 748,411 878,908 920,224 852,093 852,580 645,077
DuPont 366,857 357,407 370,695 357,858 347,730 323,741
Eastman Chemical Company 441,463 473,541 540,193 462,208 437,773 362,960
ENI S.p.A. 816,566 1,020,344 1,180,896 1,16,820 1,397,785 1,061,339
Evonik Industries AG 252,300 257,985 265,747 322,953 385,407 328,807
(formerly Degussa)
Exxon Mobil Corporation 2,729,767 3,452,315 3,550,505 3,530,681 3,930,925 2,686,828
Formosa Petrochemical 2,406,960 3,015,998 3,391,717 4,001,682 4,864,289 2,205,096
Corporation
Hitachi Chemical NA NA NA NA NA 245,773
Huntsman Corporation 814,106 966,119 NA 545,800 554,050 507,531
Ineos Group Limited NA NA 1,914,240 1,981,274 2,072,275 2,180,710
Lanxess AG 243,502 391,095 421,334 452,293 444,414 352,699
LG Chem, Ltd. NA 435,045 728,427 587,632 631,823 600,452
Linde AG 227,654 224,988 224,348 243,567 243,951 234,879
Lyondell-Basell 483,871 1,497,783 1,611,732 1,753,550 NA NA
Mitsubishi Chemical 487,118 530,911 523,117 461,405 497,929 497,926
Corporation
Mitsui Chemicals Inc. 42,873 NA 900,113 863,093 814,715 814,718
Nova Chemicals Corporation 1,034,848 1,255,800 1,575,623 1,744,758 1,766,315 NA
PPG Industries, Inc. 240,846 266,617 273,389 234,674 241,233 220,596
Praxair Inc. 196,478 225,704 245,515 245,486 273,912 246,170
Reliance Industries Ltd. 975,901 1,231,468 NA NA NA 908,951
Rhodia S.A. 256,646 261,520 281,665 32,173 331,847 296,397
Royal DSM N.V. 320,596 375,573 376,963 376,580 395,617 346,520
Royal Dutch Shell plc 1,906,290 2,265,307 2,354,729 2,500,292 3,071,064 1,980,811
Sasol limited 236,040 293,728 261,443 328,414 360,821 354,123
Saudi Basic Industries NA NA 965,045 794,436 NA 599,476
Sherwin Williams 171,558 196,541 202,327 185,310 177,753 174,597
Shin-Etsu Chemical Co Ltd 394,435 433,717 453,859 NA NA 149,422
Sinopec Corp. 155,005 215,492 306,146 337,581 390,693 381,891
Solvay S.A. 268,840 298,016 321,245 337,756 322,427 300,844
Sumitomo Chemical Co. Ltd. 475,951 467,948 483,621 NA NA 471,935
Syngenta AG 299,563 338,01 329,102 321,583 330,998 304,918
Teijin NA NA NA NA NA 372,941
Toray Industries Inc. 285,095 299,044 282,221 264,790 270,818 298,394
Tosoh Corporation 475,951 502,546 496,424 NA 430,041 505,164
Total S.A 1,101,426 1,268,354 1,617,776 1,646,088 1,856,207 1,362,497
Yara International ASA 728,472 849,052 826,947 865,090 1,345,088 914,321
Effective Tax Rate

(%)
Company 2004 2005 2006 2007 2008 2009
Air Liquide S.A. 26 27 25 23 21 21
Air Products & Chemicals Inc. 27 26 26 22 25 22
Akzo Nobel N.V. 25 25 0 27 (33) 27
Arkema S.A. (7) (13) 55 49 41 21
Asahi Kasai Corporation 37 37 40 33 72 72
Ashland Inc. 27 (11) 14 22 33 51
BASF SE 50 47 47 38 48 46
Bayer AG 39 29 23 (3) 27 27
Borealis GmbH 23 21 24 19 9 12
Braskem S.A. (14) 24 NA 32 10 (50)
Celanese Corporation (85) (16) 38 25 15 (101)
Chevron Phillips Chemical 2 2 3 6 7 4
Company LLC
Clariant AG 47 29 52 48 131 (60)
Dainippon Inks & Chemicals 61 NA 42 15 56 56
Inc.
The Dow Chemical Company 23 28 23 29 51 (21)
DuPont (23) 41 6 20 16 19
Eastman Chemical Company (166) 29 29 33 23 40
ENI S.p.A. 37 47 52 46 50 56
Evonik Industries AG 37 (53) NA 43 35 23
(formerly Degussa)
Exxon Mobil Corporation 39 39 41 42 45 43
Formosa Petrochemical 7 8 16 11 (5) 9
Corporation
Hitachi Chemical 44 38 39 41 72 NA
Huntsman Corporation 12 38 NA 40 28 72
Ineos Group Limited NA NA NA NA NA 76
Lanxess AG 65 54 30 35 25 22
LG Chem, Ltd. 26 14 19 15 24 22
Linde AG 46 35 27 28 23 22
Lyondell-Basell 30 29 69 34 10 33
Mitsubishi Chemical 38 NA 24 25 (53) 28
Corporation
Mitsui Chemicals Inc. 58 38 32 44 (46) (62)
Nova Chemicals Corporation 24 5 17 13 58 (19)
PPG Industries, Inc. 30 30 26 29 31 36
Praxair Inc. 25 33 26 26 28 12
Reliance Industries Ltd. 16 15 18 12 17 2
Rhodia S.A. (16) (15) NA 53 42 (237)
Royal DSM N.V. 20 23 25 24 24 20
Royal Dutch Shell plc 47 40 41 37 48 40
Sasol limited 35 32 33 32 30 43
Saudi Basic Industries 3 4 23 6 6 15
Sherwin Williams 36 32 34 33 33 30
Shin-Etsu Chemical Co Ltd 36 36 36 37 36 36
Sinopec Corp. 30 31 30 30 8 (20)
Solvay S.A. 19 31 18 29 24 14
Sumitomo Chemical Co. Ltd. 36 33 36 34 3 3
Syngenta AG (15) 18 20 22 18 16
Teijin 64 41 30 81 (30) 22
Toray Industries Inc. 25 NA 28 47 176 85
Tosoh Corporation 38 48 42 42 (11) (16)
Total S.A 53 50 53 50 56 47
Yara International ASA 24 24 17 17 24 10
Contacts us Authors
Global Head of Chemicals and Thomas Klockner

Performance Technologies KPMG in the US
Mike Shannon Tel: +1 973 912 4636
KPMG in the US e-mail: tklockner@kpmg.com
Tel: +1 973 912 6312
e-mail: mshannon@kpmg.com Sean Marikakis
KPMG in the US
In EMA Tel: +1 973 912 4866
Chris Stirling e-mail: smarikakis@kpmg.com
KPMG in the UK
Tel: +44 (0)20 7311 8512 Laura Klastava
e-mail: chris.stirling@kpmg.co.uk KPMG in the US
Tel: +1 973 912 6542
In Asia e-mail: lklastava@kpmg.com
Norbert Meyring
KPMG in China Simone Fischer
Tel: +86 (21) 6288 2298 KPMG in Germany
e-mail: norbert.meyring@kpmg.com.cn Tel: +49 69 9587 3342
e-mail: simonefischer@kpmg.de
Global Executive
Paul Harnick Christin Funke
KPMG in the UK KPMG in Germany
Tel: +44 (0)151 473 5226 Tel: +49 69 9587 3823
e-mail: paul.harnick@kpmg.co.uk e-mail: cfunke@kpmg.de
kpmg.com/chemicals
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Publication name: KPMG’s Chemicals Disclosure Excerpts
Publication number: 101203
Publication date: December 2010

KPMG Chemicals Disclosure Excerpts

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CHEMICALS AND

Reported Risk Factors 5

Legal and Political Environment 6

Raw Materials and Energy Costs 6

Globalization and Internationalization 7

Hazardous Materials, Production, and Insurance Coverage 7

Joint Ventures and Acquisitions 7

Critical Accounting Policies 8

Sustainability Reporting and Commitment 10

Carbon Disclosure Project 12

Reported Performance of the 50 Companies Reviewed 14

Risk and uncertainty dominated the

Source: Company statutory accounts

Reported Risk Factors

Raw Materials and Energy Cost 84%

Dependency on Customers and Suppliers 70%

Law and Litigation 70%

Intellectual Property and Personnel 49%

Joint Ventures and Acquisitions 40%

0% 20% 40% 60% 80% 100%

Percentage of Companies Reporting

Figure 3. Reported Risk Factors 2008

Economic Environment 93%

Raw Materials and Energy Costs 90%

Globalization and Internationalization 90%

Competition and Innovation 79%

Law and Litigation 69%

Hazardous Materials, Production 69%

Intellectual Property and Personnel 66%

Joint Ventures and Acquisitions 59%

Dependency on Customers and Suppliers 41%

0% 20% 40% 60% 80% 100%

Percentage of Companies Reporting

Legal and Political Environment

Raw Materials and Energy Costs

Globalization and Internationalization

Hazardous Materials, Production, and Insurance Coverage

Joint Ventures and Acquisitions

Critical Accounting Policies

Figure 4. Critical Accounting Policies 2009

Long-lived assests, depreciation, and

Pension and other postretirement benefits,

Allowances for inventories and receivables 65%

Recognized contingencies, legal claims 52%

Environmental liabilities 39%

Accounting for business combinations 35%

0% 20% 40% 60% 80% 100%

Percentage of Companies Reporting

Source: Company statutory accounts

Figure 5. Critical Accounting Policies 2008

Pension and other postretirement benefits,

Accounting for taxes (current and deferred) 76%

Recognized contingencies, legal claims 55%

Environmental liabilities 52%

Long-lived assests, depreciation, and

Allowances for inventories and receivables 24%

Accounting for business combinations 21%

0% 20% 40% 60% 80% 100%

Percentage of Companies Reporting

Source: Company statutory accounts

Sustainability Reporting and Commitment

Separate Sustainability Report

Publication name: KPMG’s Chemicals Disclosure Excerpts