DuPont 2010 Annual Report Download - page 90

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E. I. du Pont de Nemours and Company
Notes to the Consolidated Financial Statements (continued)
(Dollars in millions, except per share)
Remediation activities vary substantially in duration and cost from site to site. These activities, and their associated
costs, depend on the mix of unique site characteristics, evolving remediation technologies, diverse regulatory agencies
and enforcement policies, as well as the presence or absence of potentially responsible parties. At December 31, 2010,
the Condensed Consolidated Balance Sheets included a liability of $407, relating to these matters and, in
management’s opinion, is appropriate based on existing facts and circumstances. The average time frame, over which
the accrued or presently unrecognized amounts may be paid, based on past history, is estimated to be 15-20 years.
Considerable uncertainty exists with respect to these costs and, under adverse changes in circumstances, potential
liability may range up to two to three times the amount accrued as of December 31, 2010.
Other
The company has various purchase commitments incident to the ordinary conduct of business. In the aggregate, such
commitments are not at prices in excess of current market.
20. STOCKHOLDERS’ EQUITY
The company’s Board of Directors authorized a $2,000 share buyback plan in June 2001. During 2010, the company
purchased and retired 5.4 million shares at a total cost of $250 under this plan. During 2009 and 2008, there were no
purchases of stock under this plan. As of December 31, 2010, the company has purchased 25.9 million shares at a total
cost of $1,212. Management has not established a timeline for the buyback of the remaining stock under this plan.
Common stock held in treasury is recorded at cost. When retired, the excess of the cost of treasury stock over its par
value is allocated between reinvested earnings and additional paid-in capital.
Set forth below is a reconciliation of common stock share activity for the years ended December 31, 2010, 2009 and
2008:
Shares of common stock Issued Held In Treasury
Balance January 1, 2008 986,330,000 (87,041,000)
Issued 3,085,000 -
Balance December 31, 2008 989,415,000 (87,041,000)
Issued 1,440,000 -
Balance December 31, 2009 990,855,000 (87,041,000)
Issued 18,891,000 -
Repurchased - (5,395,000)
Retired (5,395,000) 5,395,000
Balance December 31, 2010 1,004,351,000 (87,041,000)
F-31