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Document and Entity Information - USD ($) $ in Millions	12 Months Ended
Document and Entity Information - USD ($) $ in Millions	Dec. 31, 2011	Feb. 15, 2012	Jun. 30, 2011
Document and Entity Information [Abstract]
Entity Registrant Name	LSB INDUSTRIES INC
Entity Central Index Key	0000060714
Document Type	10-K
Document Period End Date	Dec. 31, 2011
Amendment Flag	false
Document Fiscal Year Focus	2011
Document Fiscal Period Focus	FY
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 Public Float			$ 796
Entity Common Stock, Shares Outstanding		22,318,223

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2011	Dec. 31, 2010
Current assets:
Cash and cash equivalents	$ 124,929	$ 66,946
Restricted cash	31	31
Short-term investments	10,005	10,003
Accounts receivable, net	87,351	74,259
Inventories	59,506	60,106
Supplies, prepaid items and other:
Prepaid insurance	5,953	4,449
Precious metals	17,777	12,048
Supplies	7,513	6,802
Fair value of derivatives and other	53	1,454
Prepaid income taxes	8,679	0
Other	2,034	1,174
Total supplies, prepaid items and other	42,009	25,927
Deferred income taxes	4,275	5,396
Total current assets	328,106	242,668
Property, plant and equipment, net	164,547	135,755
Other assets:
Investment in affiliate	2,910	4,016
Goodwill	1,724	1,724
Other, net	4,722	3,818
Total other assets	9,356	9,558
Total assets	502,009	387,981
Current liabilities:
Accounts payable	57,891	51,025
Short-term financing	5,646	3,821
Accrued and other liabilities	28,677	31,507
Current portion of long-term debt	4,935	2,328
Total current liabilities	97,149	88,681
Long-term debt	74,525	93,064
Noncurrent accrued and other liabilities	15,239	12,605
Deferred income taxes	21,826	14,261
Commitments and contingencies (Note 11)
Stockholders' equity:
Common stock, $.10 par value; 75,000,000 shares authorized, 26,638,285 shares issued (25,476,534 shares at December 31, 2010)	2,664	2,548
Capital in excess of par value	162,092	131,845
Retained earnings	153,888	70,351
Stockholders equity including treasury stock	321,644	207,744
Less treasury stock, at cost:
Common stock, 4,320,462 shares	28,374	28,374
Total stockholders' equity	293,270	179,370
Total Liabilities and Stockholders' equity	502,009	387,981
Series B Preferred stock
Stockholders' equity:
Convertible preferred stock	2,000	2,000
Series D Preferred stock
Stockholders' equity:
Convertible preferred stock	$ 1,000	$ 1,000

Consolidated Balance Sheets (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010
Common stock, par value	$ 0.10	$ 0.10
Common stock, shares authorized	75,000,000	75,000,000
Common stock, shares issued	26,638,285	25,476,534
Treasury stock, common shares	4,320,462	4,320,462
Series B Preferred stock
Convertible preferred stock dividend rate	12.00%	12.00%
Series B cumulative, convertible preferred stock, par value	$ 100	$ 100
Preferred stock, shares issued	20,000	20,000
Preferred stock, shares outstanding	20,000	20,000
Series D Preferred stock
Convertible preferred stock dividend rate	6.00%	6.00%
Series B cumulative, convertible preferred stock, par value
Series D cumulative, convertible Class C preferred stock, par value
Preferred stock, shares issued	1,000,000	1,000,000
Preferred stock, shares outstanding	1,000,000	1,000,000

Consolidated Statements of Income - USD ($) $ in Thousands	12 Months Ended
Consolidated Statements of Income - USD ($) $ in Thousands	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Consolidated Statements of Income [Abstract]
Net sales	$ 805,256	$ 609,905	$ 531,838
Cost of sales	582,238	471,280	394,424
Gross profit	223,018	138,625	137,414
Selling, general and administrative expense	86,343	89,720	96,374
Provisions for losses on accounts receivable	347	145	90
Other expense	3,823	1,262	527
Other income	(3,938)	(8,427)	(287)
Operating income	136,443	55,925	40,710
Interest expense	6,658	7,427	6,746
Losses (gain) on extinguishment of debt	136	52	(1,783)
Non-operating other income, net		(53)	(130)
Income from continuing operations before provisions for income taxes and equity in earnings of affiliate	129,649	48,499	35,877
Provisions for income taxes	46,208	19,787	15,024
Equity in earnings of affiliate	(543)	(1,003)	(996)
Income from continuing operations	83,984	29,715	21,849
Net loss from discontinued operations	142	141	265
Net income	83,842	29,574	21,584
Dividends on preferred stocks	305	305	306
Net income applicable to common stock	$ 83,537	$ 29,269	$ 21,278
Basic:
Income from continuing operations	$ 3.81	$ 1.39	$ 1.01
Net loss from discontinued operations	(0.01)	(0.01)	(0.01)
Net income	3.80	1.38	1.00
Diluted:
Income from continuing operations	3.59	1.33	0.97
Net loss from discontinued operations	(0.01)	(0.01)	(0.01)
Net income	$ 3.58	$ 1.32	$ 0.96

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock Shares	Non-Redeemable Preferred Stock	Capital in Excess of Par Value	Accumulated Other Comprehensive Loss	Retained Earnings	Treasury Stock - Common
Beginning balance at Dec. 31, 2008	$ 130,044	$ 2,496	$ 3,000	$ 127,337	$ (120)	$ 19,804	$ (22,473)
Beginning balance, shares at Dec. 31, 2008		24,958,000
Net income	21,584					21,584
Amortization of cash flow hedge	120				120
Total comprehensive income	21,704
Dividends paid on preferred stocks	(306)					(306)
Stock-based compensation	1,021			1,021
Exercise of stock options	609	$ 41		848			(280)
Exercise of stock options, shares		409,000
Excess income tax benefit associated with stock-based compensation	731			731
Acquisition of shares of common stock	(3,200)						(3,200)
Conversion of shares of redeemable preferred stock to common stock	4			4
Conversion of shares of redeemable preferred stock to common stock, shares		2,000
Ending balance at Dec. 31, 2009	150,607	$ 2,537	3,000	129,941	0	41,082	(25,953)
Ending balance, shares at Dec. 31, 2009		25,369,000
Net income	29,574					29,574
Dividends paid on preferred stocks	(305)					(305)
Stock-based compensation	1,005			1,005
Exercise of stock options	829	$ 11		818
Exercise of stock options, shares		106,000
Excess income tax benefit associated with stock-based compensation	78			78
Acquisition of shares of common stock	(2,421)						(2,421)
Conversion of shares of redeemable preferred stock to common stock	3			3
Conversion of shares of redeemable preferred stock to common stock, shares		2,000
Ending balance at Dec. 31, 2010	179,370	$ 2,548	3,000	131,845	0	70,351	(28,374)
Ending balance, shares at Dec. 31, 2010		25,477,000
Net income	83,842					83,842
Dividends paid on preferred stocks	(305)					(305)
Stock-based compensation	1,099			1,099
Conversion of convertible debt to common stock	26,904	$ 98		26,806
Conversion of convertible debt to common stock, shares		983,000
Exercise of stock options	1,197	$ 18		1,179
Exercise of stock options, shares		178,000
Excess income tax benefit associated with stock-based compensation	1,162			1,162
Conversion of shares of redeemable preferred stock to common stock	$ 1			1
Conversion of shares of redeemable preferred stock to common stock, shares	979,160
Ending balance at Dec. 31, 2011	$ 293,270	$ 2,664	$ 3,000	$ 162,092	$ 0	$ 153,888	$ (28,374)
Ending balance, shares at Dec. 31, 2011		26,638,000

Consolidated Statements of Stockholders' Equity (Parenthetical) - shares	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Number of acquired common stock shares		177,100	275,900
Number of converted redeemable preference shares	13	37	36
Common Stock Shares
Number of converted redeemable preference shares	13	37	36
Capital in Excess of Par Value
Number of converted redeemable preference shares	13	37	36
Treasury Stock - Common
Number of acquired common stock shares		177,100	275,900

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Cash flows from continuing operating activities
Net income	$ 83,842	$ 29,574	$ 21,584
Adjustments to reconcile net income to net cash provided by continuing operating activities:
Net loss from discontinued operations	142	141	265
Deferred income taxes	8,688	2,310	11,231
Losses (gain) on extinguishment of debt	136	52	(1,783)
Expense associated with modification of secured term loan	387
Expense associated with induced conversion of 5.5% convertible debentures	558
Net gain on carbon credits	(151)
Losses on sales and disposals of property and equipment	1,280	460	378
Gain on property insurance recoveries associated with property, plant and equipment		(7,500)
Depreciation of property, plant and equipment	18,762	17,329	15,601
Amortization	440	651	757
Stock-based compensation	1,099	1,005	1,021
Provisions for losses on accounts receivable	347	145	90
Provisions for (realization of) losses on inventory	590	184	(2,404)
Provision for (realization of) losses on firm sales commitments		(371)	371
Equity in earnings of affiliate	(543)	(1,003)	(996)
Distributions received from affiliate	1,649	825	786
Changes in fair value of commodities contracts	(11)	(761)	(138)
Changes in fair value of interest rate contracts	346	(34)	(508)
Other		(10)
Cash provided (used) by changes in assets and liabilities (net of effects of discontinued operations):
Accounts receivable	(13,451)	(17,340)	22,118
Inventories	60	(9,277)	11,880
Prepaid and accrued income taxes	(12,805)	5,947	(2,738)
Other supplies, prepaid items and other	(8,755)	(1,585)	230
Accounts payable	2,175	15,556	(6,154)
Commodities contracts	761	150	(5,922)
Customer deposits	1,919	1,951	(2,607)
Deferred rent expense			(1,424)
Other current and noncurrent liabilities	2,506	5,802	(3,965)
Net cash provided by continuing operating activities	89,971	44,201	57,673
Cash flows from continuing investing activities
Capital expenditures	(44,221)	(34,475)	(28,891)
Proceeds from property insurance recovery associated with property, plant and equipment		8,829	364
Proceeds from sales of property and equipment	112	99	15
Purchases of short-term investments	(10,014)	(30,009)	(10,051)
Proceeds from short-term investments	10,012	30,057
Proceeds from (deposits of) restricted cash		(1)	863
Proceeds from sales of carbon credits	2,597
Payments on contractual obligations - carbon credits	(2,266)
Other assets	(816)	(488)	(360)
Net cash used by continuing investing activities	(44,596)	(25,988)	(38,060)
Cash flows from continuing financing activities
Proceeds from revolving debt facility	669,739	540,098	519,296
Payments on revolving debt facility	(669,739)	(540,098)	(519,296)
Proceeds from secured term loan, net of fees	14,766
Proceeds from modification of secured term loan, net of fees	10,347
Proceeds from other long-term debt, net of fees		47	8,566
Payments associated with induced conversion of 5.5% convertible debentures	(558)
Acquisitions of 5.5% convertible debentures		(2,494)	(8,938)
Payments on other long-term debt	(15,345)	(8,909)	(2,327)
Payments on loans secured by cash value of life insurance policies	(84)	(380)
Payments of debt issuance costs	(112)		(26)
Proceeds from short-term financing	6,775	4,585	3,866
Payments on short-term financing	(4,950)	(3,781)	(3,077)
Proceeds from exercises of stock options	1,197	829	609
Purchases of treasury stock		(2,421)	(3,200)
Excess income tax benefit associated with stock-based compensation	1,160	185	911
Dividends paid on preferred stocks	(305)	(305)	(306)
Net cash provided (used) by continuing financing activities	12,891	(12,644)	(3,922)
Cash flows of discontinued operations:
Operating cash flows	(283)	(362)	(156)
Net increase in cash and cash equivalents	57,983	5,207	15,535
Cash and cash equivalents at beginning of year	66,946	61,739	46,204
Cash and cash equivalents at end of year	124,929	66,946	61,739
Cash payments for:
Interest on long-term debt and other	6,547	6,954	6,908
Income taxes, net of refunds	49,129	11,373	5,559
Noncash investing and financing activities:
Receivables associated with property insurance claims		171	846
Current assets, accounts payable, other liabilities, and long-term debt associated with additions of property, plant and equipment	6,289	5,420	5,023
Debt issuance costs incurred associated with secured term loan	839
Debt issuance costs written off associated with 5.5% debentures	353	$ 58	$ 379
Accrued liabilities extinguished associated with 5.5% debentures	349
5.5% debentures converted to common stock	$ 26,900

Consolidated Statements of Cash Flows (Parenthetical)	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
5.5% Convertible Senior Subordinated Notes due 2012
Interest rate on convertible debentures	5.50%	5.50%	5.50%

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2011

Summary of Significant Accounting Policies [Abstract]

Summary of Significant Accounting Policies

1. Summary of Significant Accounting Policies

Basis of Consolidation — LSB Industries, Inc. (“LSB”) and its subsidiaries (the “Company”, “We”, “Us”, or “Our”) are consolidated in the accompanying consolidated financial statements. We are involved in manufacturing and marketing operations. We are primarily engaged in the manufacture and sale of geothermal and water source heat pumps and air handling products (the “Climate Control Business”) and the manufacture and sale of chemical products (the “Chemical Business”). LSB is a holding company with no significant operations or assets other than cash, cash equivalents, and investments in its subsidiaries. Entities that are 20% to 50% owned and for which we have significant influence are accounted for on the equity method. All material intercompany accounts and transactions have been eliminated.

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

Cash and Cash Equivalents — Investments, which consist of highly liquid investments with original maturities of three months or less, are considered cash equivalents.

Restricted Cash — Restricted cash consists of cash balances that are legally restricted or designated by us for specific purposes.

Short-Term Investments — Investments, which consisted of certificates of deposit with an original maturity of 13 weeks, are considered short-term investments. These investments are carried at cost which approximates fair value. All of these investments were held by financial institutions within the United States (“U.S.”) and none of these investments were in excess of the federally insured limits.

Accounts Receivable - Our accounts receivable are stated at net realizable value. This value includes an appropriate allowance for estimated uncollectible accounts to reflect any loss anticipated on accounts receivable balances. Our estimate is based on historical experience and periodic assessment of outstanding accounts receivable, particularly those accounts that are past due (based upon the terms of the sale). Our periodic assessment of our accounts receivable is based on our best estimate of amounts that are not recoverable.

Inventories — Inventories are stated at the lower of cost (determined using the first-in, first-out (“FIFO”) basis) or market (net realizable value). Finished goods and work-in-process inventories include material, labor, and manufacturing overhead costs. Additionally, we review inventories and record inventory reserves for slow-moving inventory items.

Precious Metals — Precious metals are used as a catalyst in the Chemical Business manufacturing process. Precious metals are carried at cost, with cost being determined using the FIFO basis. Because some of the catalyst consumed in the production process cannot be readily recovered and the amount and timing of recoveries are not predictable, we follow the practice of expensing precious metals as they are consumed. Occasionally, during major maintenance or capital projects, we may be able to perform procedures to recover precious metals (previously expensed) which have accumulated over time within the manufacturing equipment. Recoveries of precious metals are recognized at historical FIFO costs. When we accumulate precious metals in excess of our production requirements, we may sell a portion of the excess metals.

Property, Plant and Equipment — Property, plant and equipment (“PP&E”) are stated at cost, net of accumulated depreciation and amortization. Leases meeting capital lease criteria are capitalized in PP&E. Major renewals and improvements that increase the life, value, or productive capacity of assets are capitalized in PP&E while maintenance, repairs and minor renewals are expensed as incurred. In addition, maintenance, repairs and minor renewal costs relating to planned major maintenance activities (“Turnarounds”) in our Chemical Business are expensed as they are incurred. Fully depreciated assets are retained in PP&E and accumulated depreciation and amortization accounts until disposal. When PP&E are retired, sold, or otherwise disposed, the asset’s carrying amount and related accumulated depreciation and amortization are removed from the accounts and any gain or loss is included in other income or expense.

For financial reporting purposes, depreciation is primarily computed using the straight-line method over the estimated useful lives of the assets. No provision for depreciation is made on construction in progress or capital spare parts until such time as the relevant assets are put into service. Amortization of assets under capital leases is included in depreciation expense.

Impairment of Long-Lived Assets — Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset (asset group) may not be recoverable. An impairment loss would be recognized when the carrying amount of an asset (asset group) exceeds the estimated undiscounted future cash flows expected to result from the use of the asset (asset group) and its eventual disposition. If assets to be held and used are considered to be impaired, the impairment to be recognized is the amount by which the carrying amounts of the assets exceed the fair values of the assets as measured by the present value of future net cash flows expected to be generated by the assets or their appraised value.

In general, assets held for sale are reported at the lower of the carrying amounts of the assets or fair values less costs to sell. At December 31, 2011 and 2010, we had no long-lived assets classified as assets held for sale.

Debt Issuance Costs — Debt issuance costs are amortized over the term of the associated debt instrument. In general, if debt is extinguished prior to maturity, the associated debt issuance costs, if any, are written off and included in the gain or loss on extinguishment of debt.

Goodwill — Goodwill is reviewed for impairment at least annually. An impairment loss generally would be recognized when the carrying amount of the reporting unit’s net assets exceeds the estimated fair value of the reporting unit. Reporting units are one level below the business segment level. No impairments of goodwill were incurred in 2011, 2010 or 2009. Goodwill relates to business acquisitions in prior periods in the following business segments:


	December 31,
	2011		2010
	(In Thousands)
Climate Control	$	103	$	103
Chemical		1,621		1,621

Total goodwill	$	1,724	$	1,724

Accrued Insurance Liabilities — We are self-insured up to certain limits for group health, workers’ compensation and general liability claims. Above these limits, we have commercial stop-loss insurance coverage for our contractual exposure on group health claims and statutory limits under workers’ compensation obligations. We also carry umbrella insurance of $100 million for most general liability and auto liability risks. We have a separate $30 million insurance policy covering pollution liability at our Chemical Business facilities. Additional pollution liability coverage for our other facilities is provided in our general liability and umbrella policies.

Our accrued insurance liabilities are based on estimates of claims, which include the reported incurred claims amounts plus the reserves established by our insurance adjustors and/or estimates provided by attorneys handling the claims, if any. In addition, our accrued insurance liabilities include estimates of incurred, but not reported, claims based on historical claims experience. The determination of such claims and the appropriateness of the related liability is periodically reviewed and revised, if needed. Changes in these estimated liabilities are charged to operations. Potential legal fees and other directly related costs associated with insurance claims are not accrued but rather are expensed as incurred. Accrued insurance liabilities are included in accrued and other liabilities. It is reasonably possible that the actual development of claims could be different than our estimates.

Product Warranty — Our Climate Control Business sells equipment that has an expected life, under normal circumstances and use, which extends over several years. As such, we provide warranties after equipment shipment/start up covering defects in materials and workmanship.

Our accounting policy and methodology for warranty arrangements is to measure and recognize the expense and liability for such warranty obligations at the time of sale using a percentage of sales and cost per unit of equipment, based upon our historical and estimated future warranty costs. We also recognize the additional warranty expense and liability to cover atypical costs associated with a specific product, or component thereof, or project installation, when such costs are probable and reasonably estimable. It is reasonably possible that our estimated accrued warranty costs could change in the near term.

Executive Benefit Agreements — We have entered into benefit agreements with certain key executives. Costs associated with these individual benefit agreements are accrued based on the estimated remaining service period when such benefits become probable they will be paid. Total costs accrued equal the present value of specified payments to be made after benefits become payable.

Income Taxes — We recognize deferred tax assets and liabilities for the expected future tax consequences attributable to tax net operating loss (“NOL”) carryforwards, tax credit carryforwards, and differences between the financial statement carrying amounts and the tax basis of our assets and liabilities. We establish valuation allowances if we believe it is more-likely-than-not that some or all of deferred tax assets will not be realized. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date.

In addition, we do not recognize a tax benefit unless we conclude that it is more-likely-than-not that the benefit will be sustained on audit by the taxing authority based solely on the technical merits of the associated tax position. If the recognition threshold is met, we recognize a tax benefit measured at the largest amount of the tax benefit that, in our judgment, is greater than 50% likely to be realized. We also record interest related to unrecognized tax positions in interest expense and penalties in operating other expense.

We reduce income tax expense for investment tax credits in the year the credit arises and is earned.

Income tax benefits associated with amounts that are deductible for income tax purposes but that do not affect earnings are credited to equity. These benefits are principally generated from exercises of non-qualified stock options.

Contingencies — Certain conditions may exist which may result in a loss, but which will only be resolved when future events occur. We and our legal counsel assess such contingent liabilities, and such assessment inherently involves an exercise of judgment. If the assessment of a contingency indicates that it is probable that a loss has been incurred, we would accrue for such contingent losses when such losses can be reasonably estimated. If the assessment indicates that a potentially material loss contingency is not probable but reasonably possible, or is probable but cannot be estimated, the nature of the contingent liability, together with an estimate of the range of possible loss if determinable and material, would be disclosed. Estimates of potential legal fees and other directly related costs associated with contingencies are not accrued but rather are expensed as incurred. Loss contingency liabilities are included in current and noncurrent accrued and other liabilities and are based on current estimates that may be revised in the near term. In addition, we recognize contingent gains when such gains are realized or realizable and earned.

Asset Retirement Obligations — We are obligated to monitor certain discharge water outlets at our Chemical Business facilities should we discontinue the operations of a facility. We are also contractually obligated through at least December 2053 to pay a portion of the operating costs of a municipally owned wastewater pipeline currently being constructed, which will serve our chemical production facility located in El Dorado, Arkansas (the “El Dorado Facility”). Additionally, we have certain facilities in our Chemical Business that contain asbestos insulation around certain piping and heated surfaces, which we plan to maintain or replace, as needed, with non-asbestos insulation through our standard repair and maintenance activities to prevent deterioration. Currently, there is insufficient information to estimate the fair value for most of our asset retirement obligations. In addition, we currently have no plans to discontinue the use of these facilities and the remaining life of the facilities is indeterminable. As a result, no asset retirement obligations have been recognized except for $75,000 to retire an injection well at our chemical production facility located in Pryor, Oklahoma (the “Pryor Facility”). However, we will continue to review these obligations and record a liability when a reasonable estimate of the fair value can be made.

Stock Options — Equity award transactions with employees are measured based on the estimated fair value of the equity awards issued. For equity awards with only service conditions that have a graded vesting period, we recognize compensation cost on a straight-line basis over the requisite service period for the entire award. In addition, we issue new shares of common stock upon the exercise of stock options.

Revenue Recognition — We recognize revenue for substantially all of our operations at the time title to the goods transfers to the buyer and there remain no significant future performance obligations by us. Revenue relating to construction contracts is recognized using the percentage-of-completion method based primarily on contract costs incurred to date compared with total estimated contract costs. Changes to total estimated contract costs or losses, if any, are recognized in the period in which they are determined. Sales of warranty contracts are recognized as revenue ratably over the life of the contract. See discussion above under “Product Warranty” for our accounting policy for recognizing warranty expense.

Recognition of Insurance Recoveries — If an insurance claim relates to a recovery of our losses, we recognize the recovery when it is probable and reasonably estimable. If our insurance claim relates to a contingent gain, we recognize the recovery when it is realized or realizable and earned. Amounts recoverable from our insurance carriers, if any, are included in accounts receivable.

Cost of Sales — Cost of sales includes materials, labor and overhead costs to manufacture the products sold plus inbound freight, purchasing and receiving costs, inspection costs, internal transfer costs and warehousing costs (excluding certain handling costs directly related to loading product being shipped to customers in our Chemical Business which are included in selling, general and administrative expense). Precious metals used as a catalyst (Chemical Business) and consumed during the manufacturing process are included in cost of sales. In addition, recoveries and gains from precious metals (Chemical Business), sales of material scrap (Climate Control Business), and business interruption insurance claims are reductions to cost of sales. Also, provisions for (realization of) losses associated with inventory reserves and Turnaround costs are included in cost of sales. In addition, gains and losses (realized and unrealized) from our commodities and foreign currency futures/forward contracts are included in cost of sales. Also provision for losses, if any, on firm sales commitments are included in cost of sales.

Selling, General and Administrative Expense — Selling, general and administrative expense (“SG&A”) includes costs associated with the sales, marketing and administrative functions. Such costs include personnel costs, including benefits, advertising costs, commission expenses, warranty costs, office and occupancy costs associated with the sales, marketing and administrative functions. SG&A also includes outbound freight in our Climate Control Business and certain handling costs directly related to product being shipped to customers in our Chemical Business. These handling costs primarily consist of personnel costs for loading product into transportation equipment, rent and maintenance costs related to the transportation equipment, and certain indirect costs. In addition, professional fees are included in SG&A. Also, while our previously idled Pryor Facility was not in production in 2010 and 2009, most of the expenses associated with this facility were included in SG&A.

Shipping and Handling Costs — Shipping and handling costs included in net sales and SG&A for each business segment are as follows:


	2011		2010		2009
	(In Thousands)
Climate Control:
Shipping and handling costs — SG&A (1)	$	8,564	$	7,706	$	7,910

Chemical:
Shipping costs — Net sales (2)	$	26,179	$	22,436	$	15,897

Handling costs — SG&A (1)	$	5,024	$	5,137	$	5,691


(1)		See discussion above under “Selling, General and Administrative Expense.”

(2)		These costs relate to amounts billed to our customers.

Advertising Costs — Costs in connection with advertising and promotion of our products are expensed as incurred. These costs, primarily relating to our Climate Control Business, are as follows.


	2011		2010		2009
	(In Thousands)
Advertising costs	$	4,528	$	5,149	$	5,915

Derivatives, Hedges, Financial Instruments and Carbon Credits — Derivatives are recognized in the balance sheet and are measured at fair value. Changes in fair value of derivatives are recorded in results of operations unless the normal purchase or sale exceptions apply or hedge accounting is elected.

Climate reserve tonnes (“carbon credits”) are recognized in the balance sheet and are measured at fair value. Changes in fair value of carbon credits are recorded in results of operations. Contractual obligations associated with carbon credits are recognized in the balance sheet and are measured at fair value unless we enter into a firm sales commitment to sell the associated carbon credits. When we enter into a firm sales commitment, the sales price, pursuant to the terms of the firm sales commitment, establishes the amount of the associated contractual obligation. Changes in fair value of contractual obligations associated with carbon credits are recorded in results of operations.

Income per Common Share — Net income applicable to common stock is computed by adjusting net income by the amount of preferred stock dividends and dividend requirements, if applicable. Basic income per common share is based upon net income applicable to common stock and the weighted-average number of common shares outstanding during each year. Diluted income per share is based on net income applicable to common stock plus preferred stock dividends and dividend requirements on preferred stock assumed to be converted, if dilutive, and interest expense including amortization of debt issuance cost, net of income taxes, on convertible debt assumed to be converted, if dilutive, and the weighted-average number of common shares and dilutive common equivalent shares outstanding, and the assumed conversion of dilutive convertible securities outstanding.

Recently Issued Accounting Pronouncements — In 2010, the Financial Accounting Standards Board (“FASB”) issued an accounting standards update (“ASU”) requiring additional disclosures about an entity’s derivative and hedging activities for the purpose of improving the transparency of financial reporting. A portion of the new disclosure requirements became effective for us on January 1, 2010 and the remaining new disclosure requirements became effective for us on January 1, 2011. These disclosure requirements were applied prospectively. See Note 12 — Derivatives, Hedges, Financial Instruments and Carbon Credits.

In 2011, the FASB issued an ASU clarifying how to measure and disclose fair value. The requirements under this ASU became effective for us on January 1, 2012 and are to be applied prospectively. We currently do not expect a significant impact from adopting this ASU.

In 2011, the FASB issued ASUs amending current comprehensive income guidance, which eliminate the option to present the components of other comprehensive income as part of the statement of stockholders’ equity. Instead, we must report comprehensive income in either a single continuous statement of comprehensive income which contains two sections, net income and other comprehensive income, or in two separate but consecutive statements. The requirements under these ASUs became effective for us on January 1, 2012 and are to be applied retrospectively. We currently expect to change the format of our presentation as the result of adopting these ASUs.

In 2011, the FASB issued an ASU amending current guidance for testing goodwill for impairment. This ASU added an option to first assess qualitative factors to determine if the current two-step impairment test is required. The assessment of qualitative factors is performed to determine whether the existence of events or circumstances leads to the determination that it is more likely than not that the fair value of a reporting unit is less than its carrying amount. Pursuant to the provisions of this ASU, we early adopted this ASU effective July 1, 2011, which provisions were applied prospectively. Our financial statements were not impacted from the adoption of this ASU.

In 2011, the FASB issued an ASU requiring additional disclosures about an entity’s offsetting (netting) of certain assets and liabilities for the purpose of improving the transparency of financial reporting. Entities are required to disclose both gross information and net information about both instruments and transactions eligible for offset in the balance sheet and instruments and transactions subject to an agreement similar to a master netting arrangement. The new disclosure requirements become effective for us on January 1, 2013. The disclosure requirements are to be applied retrospectively.

Income Per Common Share

12 Months Ended

Dec. 31, 2011

Income Per Common Share [Abstract]

Income Per Common Share

2. Income Per Common Share

The following table sets forth the computation of basic and diluted net income per common share:


	2011			2010			2009
	(Dollars In Thousands, Except Per Share Amounts)
Numerator:
Net income	$	83,842		$	29,574		$	21,584
Dividends on Series B Preferred		(240	)		(240	)		(240	)
Dividends on Series D Preferred		(60	)		(60	)		(60	)
Dividends on Noncumulative Preferred		(5	)		(5	)		(6	)

Total dividends on preferred stocks		(305	)		(305	)		(306	)

Numerator for basic net income per common share — net income applicable to common stock		83,537			29,269			21,278
Dividends on preferred stocks assumed to be converted, if dilutive		305			305			306
Interest expense including amortization of debt issuance costs, net of income taxes, on convertible debt assumed to be converted, if dilutive		299			1,061			—

Numerator for diluted net income per common share	$	84,141		$	30,635		$	21,584


Denominator:
Denominator for basic net income per common share — weighted-average shares		21,962,294			21,168,184			21,294,780
Effect of dilutive securities:
Convertible preferred stocks		935,432			936,292			938,006
Stock options		325,752			186,258			255,660
Convertible notes payable		275,764			983,160			4,000

Dilutive potential common shares		1,536,948			2,105,710			1,197,666

Denominator for dilutive net income per common share — adjusted weighted-average shares and assumed conversions		23,499,242			23,273,894			22,492,446


Basic net income per common share	$	3.80		$	1.38		$	1.00


Diluted net income per common share	$	3.58		$	1.32		$	.96

The following weighted-average shares of securities were not included in the computation of diluted net income per common share as their effect would have been antidilutive:


	2011		2010		2009
Stock options		35,701		357,685		398,699
Convertible notes payable		—		—		1,070,160

		35,701		357,685		1,468,859

Accounts Receivable, net

12 Months Ended

Dec. 31, 2011

Accounts Receivable, net [Abstract]

Accounts Receivable, net

3. Accounts Receivable, net


	December 31,
	2011			2010
	(In Thousands)
Trade receivables	$	87,303		$	73,367
Other		1,003			1,528

		88,306			74,895
Allowance for doubtful accounts		(955	)		(636	)

	$	87,351		$	74,259

Our sales to contractors and independent sales representatives are generally subject to a mechanic’s lien in the Climate Control Business. Sales to other customers are generally unsecured. Credit is extended to customers based on an evaluation of the customer’s financial condition and other factors. Concentrations of credit risk with respect to trade receivables are monitored and this risk is reduced due to the large number of customers comprising our customer bases and their dispersion across many different industries and geographic areas (primarily as it relates to the Climate Control Business) and payment terms of 15 days or less relating to most of our significant customers in the Chemical Business, however, thirteen customers (including their affiliates), primarily relating to the Chemical Business, account for approximately 41% of our total net receivables at December 31, 2011.

- Definition

The entire disclosure for claims held for amounts due a company. Examples include trade accounts receivables, notes receivables, loans receivables.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 3, 4
-Article 5

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 03
-Paragraph 7
-Article 9

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Statement of Position (SOP)
-Number 01-6
-Paragraph 13
-Subparagraph d
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Article 4
-Section 08
-Paragraph k

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.3,4)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6965416&loc=d3e5074-111524

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6965416&loc=d3e5066-111524

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(k))
-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=6965416&loc=d3e5162-111524

+ Details

Inventories

12 Months Ended

Dec. 31, 2011

Inventory [Abstract]

Inventories

4. Inventories


	Finished		Work-in-		Raw
	Goods		Process		Materials		Total
	(In Thousands)
December 31, 2011:
Climate Control products	$	6,871	$	4,855	$	21,579	$	33,305
Chemical products		18,509		—		4,063		22,572
Industrial machinery and components		3,629		—		—		3,629

	$	29,009	$	4,855	$	25,642	$	59,506


December 31, 2010:
Climate Control products	$	7,486	$	2,981	$	18,252	$	28,719
Chemical products		21,161		—		6,801		27,962
Industrial machinery and components		3,425		—		—		3,425

	$	32,072	$	2,981	$	25,053	$	60,106

At December 31, 2011 and 2010, inventory reserves for certain slow-moving inventory items (Climate Control products) were $1,767,000 and $1,616,000, respectively. In addition, because cost exceeded the net realizable value, inventory reserves for certain nitrogen-based inventories provided by our Chemical Business were $16,000 and $177,000 at December 31, 2011 and 2010, respectively.

Changes in our inventory reserves are as follows:


	2011			2010			2009
	(In Thousands)

Balance at beginning of year	$	1,793		$	1,676		$	4,141
Provisions for (realization of) losses		590			184			(2,404	)
Write-offs and disposals		(600	)		(67	)		(61	)

Balance at end of year	$	1,783		$	1,793		$	1,676

The provisions for (realization of) losses are included in cost of sales in the accompanying consolidated statements of income.

Property, Plant and Equipment

12 Months Ended

Dec. 31, 2011

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

5. Property, Plant and Equipment


	Useful lives	December 31,
	in years	2011		2010
	(In Thousands)

Machinery, equipment and automotive	3 - 30	$	239,322	$	217,539
Buildings and improvements	7 - 30		39,381		34,392
Furniture, fixtures and store equipment	3 - 10		5,926		5,952
Assets under capital leases	10		2,105		2,415
Land improvements	10		1,080		910
Construction in progress	N/A		23,714		9,549
Capital spare parts	N/A		7,407		5,577
Land	N/A		7,242		4,321

			326,177		280,655
Less accumulated depreciation and amortization			161,630		144,900

		$	164,547	$	135,755

Machinery, equipment and automotive primarily includes the categories of property and equipment and estimated useful lives as follows: chemical processing plants and plant infrastructure (15-30 years); production, fabrication, and assembly equipment (7-15 years); certain processing plant components (3-10 years); and trucks, automobiles, trailers, and other rolling stock (3-7 years). At December 31, 2011 and 2010, assets capitalized under capital leases consist of machinery and equipment. Accumulated amortization for assets capitalized under capital leases were $718,000 and $627,000 at December 31, 2011 and 2010, respectively.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

+ References + Details

Investment in Affiliate	12 Months Ended
Investment in Affiliate	Dec. 31, 2011
Investment in Affiliate [Abstract]
Investment in Affiliate	6. Investment in Affiliate Cepolk Holdings, Inc., a subsidiary within the Climate Control Business, is a limited partner and has a 50% equity interest in Cepolk Limited Partnership (“Partnership”), which is accounted for on the equity method. The Partnership owns an energy savings project located at the Ft. Polk Army base in Louisiana. The income recognized from the Partnership is reported as equity in earnings of affiliate.

- Definition

The entire disclosure for equity investment, or group of investments, for which combined disclosure is appropriate, including: (a) the name of each investee and percentage of ownership of common stock, (b) accounting policies for investments in common stock, (c) difference between the amount at which the investment is carried and the amount of underlying equity in net assets and the accounting treatment of the difference, (d) the total fair value of each identified investment for which a market value is available, (e) summarized information as to assets, liabilities, and results of operations of the investees (for investments in unconsolidated subsidiaries, common stock of joint ventures, or other investments using the equity method), and (f) material effects of possible conversions, exercises, or contingent issuances of the investee. Other disclosures include (a) the names of any investee in which the investor owns 20 percent or more of the voting stock and investment is not accounted for using the equity method, and the reasons why not, and (b) the names of any investee in which the investor owns less than 20 percent of the voting stock and the investment is accounted for using the equity method, and the reasons why it is.

+ References + Details

Current and Noncurrent Accrued and Other Liabilities

12 Months Ended

Dec. 31, 2011

Current and Noncurrent Accrued and Other Liabilities [Abstract]

Current and Noncurrent Accrued and Other Liabilities

7. Current and Noncurrent Accrued and Other Liabilities


	December 31,
	2011		2010
	(In Thousands)
Accrued payroll and benefits	$	7,267	$	6,742
Deferred revenue on extended warranty contracts		6,461		5,675
Accrued warranty costs		5,370		3,996
Customer deposits		4,505		2,586
Accrued death benefits		4,017		4,058
Accrued group health and workers’ compensation insurance claims		2,535		2,459
Fair value of derivatives and other		2,283		2,539
Accrued contractual manufacturing obligations		1,613		1,968
Accrued contractual profit-sharing obligation		1,478		71
Accrued executive benefits		1,262		1,187
Accrued commissions		1,016		1,279
Accrued general liability insurance claims		739		1,230
Accrued income taxes		709		4,835
Accrued interest		575		1,343
Other		4,086		4,144

		43,916		44,112
Less noncurrent portion		15,239		12,605

Current portion of accrued and other liabilities	$	28,677	$	31,507

Accrued Warranty Costs

12 Months Ended

Dec. 31, 2011

Accrued Warranty Costs [Abstract]

Accrued Warranty Costs

8. Accrued Warranty Costs

Our Climate Control Business sells equipment that has an expected life, under normal circumstances and use, which extends over several years. As such, we provide warranties after equipment shipment/start up covering defects in materials and workmanship. Generally for commercial/institutional products, the base warranty coverage for most of the manufactured equipment in the Climate Control Business is limited to eighteen months from the date of shipment or twelve months from the date of start up, whichever is shorter, and to ninety days for spare parts. For residential products, the base warranty coverage for manufactured equipment in the Climate Control Business is limited to ten years from the date of shipment for material and to five years from the date of shipment for labor associated with the repair. The warranty provides that most equipment is required to be returned to the factory or an authorized representative and the warranty is limited to the repair and replacement of the defective product, with a maximum warranty of the refund of the purchase price. Furthermore, companies within the Climate Control Business generally disclaim and exclude warranties related to merchantability or fitness for any particular purpose and disclaim and exclude any liability for consequential or incidental damages. In some cases, the customer may purchase or a specific product may be sold with an extended warranty. The above discussion is generally applicable to such extended warranties, but variations do occur depending upon specific contractual obligations, certain system components, and local laws.

Changes in our product warranty obligation (accrued warranty costs) are as follows:


	2011			2010			2009
	(In Thousands)
Balance at beginning of year	$	3,996		$	3,138		$	2,820
Amounts charged to costs and expenses		6,539			4,479			5,252
Costs incurred		(5,165	)		(3,621	)		(4,934	)

Balance at end of year	$	5,370		$	3,996		$	3,138

Long-Term Debt

12 Months Ended

Dec. 31, 2011

Long-Term Debt [Abstract]

Long-Term Debt

9. Long-Term Debt


	December 31,
	2011		2010
	(In Thousands)
Working Capital Revolver Loan due 2012 (A)	$	—	$	—
5.5% Convertible Senior Subordinated Notes due 2012 (B)		—		26,900
Secured Term Loan (C)		72,188		48,773
Other, with a current weighted-average interest rate of 6.71%, most of which is secured by machinery, equipment and real estate (D)		7,272		19,719

		79,460		95,392
Less current portion of long-term debt (E)		4,935		2,328

Long-term debt due after one year (E)	$	74,525	$	93,064

(A) Our wholly-owned subsidiary, ThermaClime, LLC (“ThermaClime”) and its subsidiaries (collectively, the “Borrowers”) are parties to a $50 million revolving credit facility (the “Working Capital Revolver Loan”) that provides for advances based on specified percentages of eligible accounts receivable and inventories for ThermaClime and its subsidiaries. The Working Capital Revolver Loan accrues interest at a base rate (generally equivalent to the prime rate) plus .50% or LIBOR plus 1.75%. The interest rate at December 31, 2011 was 3.75%. Interest is paid monthly, if applicable. Since the Working Capital Revolver Loan matures on April 13, 2012, the Borrowers are negotiating an amendment to extend this facility. The amendment is expected to be completed before the maturity date.

The Working Capital Revolver Loan provides for up to $8.5 million of letters of credit. All letters of credit outstanding reduce availability under the Working Capital Revolver Loan. As of December 31, 2011, amounts available for borrowing under the Working Capital Revolver Loan were approximately $48.6 million. Under the Working Capital Revolver Loan, the lender also requires the Borrowers to pay a letter of credit fee equal to 1% per annum of the undrawn amount of all outstanding letters of credit, an unused line fee equal to .375% per annum for the excess amount available under the Working Capital Revolver Loan not drawn and various other audit, appraisal and valuation charges.

The lender may, upon an event of default, as defined, terminate the Working Capital Revolver Loan and make the balance outstanding, if any, due and payable in full. The Working Capital Revolver Loan is secured by the assets of all the ThermaClime entities other than El Dorado Nitric Company and its subsidiaries (“EDN”) but excluding the assets securing the secured term loan discussed in (C) below, certain production equipment and facilities utilized by the Climate Control Business, and certain distribution-related assets of El Dorado Chemical Company (“EDC”). In addition, EDN is neither a borrower under, nor guarantor of, the Working Capital Revolver Loan. The carrying value of the pledged assets is approximately $258 million at December 31, 2011.

The Working Capital Revolver Loan requires ThermaClime to meet certain financial covenants, including an EBITDA requirement of greater than $25 million; a minimum fixed charge coverage ratio of not less than 1.10 to 1; and a maximum senior leverage coverage ratio of not greater than 4.50 to 1. These requirements are measured quarterly on a trailing twelve-month basis and as defined in the agreement. ThermaClime was in compliance with those covenants during 2011. The Working Capital Revolver Loan also contains covenants that, among other things, limit the Borrowers’ (which does not include LSB) ability, without consent of the lender and with certain exceptions, to:

•

incur additional indebtedness,

•

incur liens,

•

make restricted payments or loans to affiliates who are not Borrowers,

•

engage in mergers, consolidations or other forms of recapitalization, or

•

dispose assets.

The Working Capital Revolver Loan also requires all collections on accounts receivable be made through a bank account in the name of the lender or their agent.

(B) In June 2007, we entered into a purchase agreement with each of twenty two qualified institutional buyers (“QIBs”), pursuant to which we sold $60 million aggregate principal amount of the 5.5% convertible debentures (“2007 Debentures”) in a private placement to the QIBs pursuant to the exemptions from the registration requirements of the Securities Act of 1933, as amended (the “Act”), afforded by Section 4(2) of the Act and Regulation D promulgated under the Act. The 2007 Debentures bore interest at the rate of 5.5% per year.

In previous years, we have acquired a certain portion of the 2007 Debentures, with each purchase being negotiated. During 2011, the remaining 2007 Debentures were converted into shares of LSB common stock including the portion of 2007 debentures held by Jack E. Golsen, our chairman of the board and chief executive officer (“CEO”), members of his immediate family (spouse and children), entities owned by them and trusts for which they possess voting or dispositive power as trustee (collectively, the “Golsen Group”) as discussed in Note 19-Related Party Transactions. In addition for financial reporting purposes, one of the conversion transactions with an unrelated third party was considered an induced conversion. The following is a summary of transactions relating to the 2007 Debentures for each respective year:


	2011		2010		2009
	(Dollars In Thousands)
Principal amounts converted or acquired	$	26,900	$	2,500	$	11,100
Cash paid for acquisitions	$	—	$	2,494	$	8,938
Shares of LSB common stock issued		979,160		—		—

(C) On March 29, 2011, ThermaClime and certain of its subsidiaries entered into an amended and restated term loan agreement (the “Amended Agreement”), which amended ThermaClime’s existing term loan agreement (the “Original Agreement”), dated November 2, 2007, as previously amended. Pursuant to the terms of the Amended Agreement, the maximum principal amount of ThermaClime’s term loan facility (the “Secured Term Loan”) was increased from $50 million to $60 million. On May 26, 2011, the principal amount of the Secured Term Loan was increased an additional $15 million to $75 million pursuant to the terms of the Amended Agreement. The Amended Agreement also extended the maturity of the Secured Term Loan from November 2, 2012, to March 29, 2016. The Secured Term Loan continues to be guaranteed by LSB. For financial reporting purposes, this transaction is considered a non-substantial modification of the Original Agreement.

The Secured Term Loan requires quarterly principal payments of approximately $0.9 million, plus interest and a final balloon payment of $56.3 million due on March 29, 2016. The stated interest rate on the Secured Term Loan includes a variable interest rate (based on three-month LIBOR plus 300 basis points, which rate is adjusted quarterly) and a fixed interest rate as detailed below:


	December 31,
	2011
	Stated Interest			Principal
	Rate			Balance
	(Dollars In Thousands)
Variable interest rate		3.57	%	$	48,125
Fixed interest rate		5.15	%		24,063

Weighted-average interest rate		4.10	%	$	72,188

The Secured Term Loan is secured by the real property and equipment located at our El Dorado Facility and our chemical production facility located in Cherokee, Alabama (the “Cherokee Facility”). The carrying value of the pledged assets is approximately $72 million at December 31, 2011.

The Secured Term Loan borrowers are subject to numerous covenants under the Amended Agreement including, but not limited to, limitation on the incurrence of certain additional indebtedness and liens; limitations on mergers, acquisitions, dissolution and sale of assets; and limitations on declaration of dividends and distributions to LSB, all with certain exceptions. At December 31, 2011, the carrying value of the restricted net assets (including pledged assets) of ThermaClime and its subsidiaries was approximately $97 million. As defined in the agreement, the Secured Term Loan borrowers are also subject to a minimum fixed charge coverage ratio of not less than 1.10 to 1 and a maximum leverage ratio of not greater than 4.50 to 1. Both of these requirements are measured quarterly on a trailing twelve-month basis. The Secured Term Loan borrowers were in compliance with these financial covenants during 2011.

The maturity date of the Secured Term Loan can be accelerated by the lender upon the occurrence of a continuing event of default, as defined.

The Working Capital Revolver Loan agreement (discussed in (A) above) and the Secured Term Loan contain cross-default provisions. If ThermaClime fails to meet the financial covenants of either of these agreements, the lenders may declare an event of default.

A prepayment premium equal to 2.5% of the principal amount prepaid is due to the lenders should the borrowers elect to prepay on or prior to March 29, 2012. This premium is reduced to 1.0% during the following 24-month period and is eliminated thereafter.

(D) Amounts include capital lease obligations of $749,000 and $1,211,000 at December 31, 2011 and 2010, respectively.

(E) Maturities of long-term debt for each of the five years after December 31, 2011 are as follows (in thousands):


2012	$	4,935
2013		4,937
2014		4,685
2015		4,702
2016		58,195
Thereafter		2,006

	$	79,460

Income Taxes

12 Months Ended

Dec. 31, 2011

Income Taxes [Abstract]

Income Taxes

10. Income Taxes

Provisions for income taxes are as follows:


	2011		2010		2009
	(In Thousands)
Current:
Federal	$	33,006	$	13,723	$	2,456
State		4,514		3,754		1,337

Total Current	$	37,520	$	17,477	$	3,793


Deferred:
Federal	$	7,543	$	1,602	$	9,611
State		1,145		708		1,620

Total Deferred	$	8,688	$	2,310	$	11,231

Provisions for income taxes	$	46,208	$	19,787	$	15,024

The current provision for federal income taxes shown above includes regular federal income tax after the consideration of permanent and temporary differences between income for GAAP and tax purposes. The current provision for state income taxes includes regular state income tax and provisions for uncertain income tax positions. In addition to the income tax provision from continuing operations, we allocated an income tax benefit of approximately $80,000, $78,000 and $155,000 to discontinued operations for 2011, 2010 and 2009, respectively.

During June 2010, we determined that certain nondeductible expenses had not been properly identified relating to the 2007-2009 provisions for income taxes. As a result, we recorded an additional income tax provision of approximately $800,000 for 2010. For 2010, the effect of this adjustment decreased basic and diluted net income per share by $.04 and $.03, respectively. Management of the Company evaluated the impact of this accounting error and concluded the effect of this adjustment was immaterial to our 2007-2010 consolidated financial statements.

The deferred tax provision results from the recognition of changes in our prior year deferred tax assets and liabilities, and the utilization of state NOL carryforwards and other temporary differences. We reduce income tax expense for investment tax credits in the year they arise and are earned. At December 31, 2011, our gross amount of the investment tax credits available to offset state income taxes was minimal. These investment tax credits do not expire and carryforward indefinitely.

We utilized approximately $0.2 million, $0.7 million and $2.2 million of state NOL carryforwards to reduce tax liabilities in 2011, 2010 and 2009, respectively. At December 31, 2011, we have remaining state tax NOL carryforwards of approximately $8.0 million that begin expiring in 2013.

For 2011, 2010 and 2009, we determined it was more-likely-than-not that approximately $6.9 million, $6.1 million and $7.1 million, respectively, of the state NOL carryforwards would not be able to be utilized before expiration and a valuation allowance for the deferred tax assets associated with these state NOL carryforwards, net of federal benefit of approximately $0.3 million, $0.3 million and $0.4 million, respectively, was maintained. We considered both positive and negative evidence in our determination. The negative evidence considered primarily included our history of losses by certain entities and jurisdictions, both as to amount and trend and uncertainties surrounding our ability to generate sufficient taxable income in the individual jurisdictions to utilize these state NOL carryforwards.

When non-qualified stock options (“NSOs”) are exercised, the grantor of the options is permitted to deduct the spread between the fair market value of the stock issued and the exercise price of the NSOs as compensation expense in determining taxable income. Income tax benefits related to stock-based compensation deductions in excess of the compensation expense recorded for financial reporting purposes are not recognized in earnings as a reduction of income tax expense for financial reporting purposes. As a result, the stock-based compensation deduction recognized in our income tax return will exceed the stock-based compensation expense recognized in earnings. The excess tax benefit realized (i.e., the resulting reduction in the current tax liability) related to the excess stock-based compensation tax deduction of $1.3 million, $0.6 million and $0.9 million in 2011, 2010, and 2009, respectively, which is included in the net change in capital in excess of par value rather than a decrease in the provision for income taxes.

In addition, if the grantor of NSOs will not currently reduce its tax liability from the excess tax benefit deduction taken at the time of the taxable event (option exercised) because it has a NOL carryforward that is increased by the excess tax benefit, then the tax benefit should not be recognized until the deduction actually reduces current taxes payable. At December 31, 2011 and 2010, we had no unrecognized federal and state tax benefits resulting from the exercise of NSOs.

Deferred tax assets and liabilities include temporary differences and carryforwards as follows:


	December 31,
	2011			2010
	(In Thousands)

Deferred tax assets
Allowance for doubtful accounts	$	872		$	723
Asset impairment		756			725
Inventory		1,724			2,214
Deferred compensation		4,096			3,996
Other accrued liabilities		5,474			4,929
Hedging		1,033			575
Net operating loss carryforwards		392			361
Other		1,069			1,210

Total deferred tax assets		15,416			14,733
Less valuation allowance on deferred tax assets		(344	)		(310	)

Net deferred tax assets	$	15,072		$	14,423


Deferred tax liabilities
Property, plant and equipment	$	28,766		$	19,886
Prepaid and other insurance reserves		2,504			1,852
Investment in unconsolidated affiliate		640			837
Other		713			713

Total deferred tax liabilities	$	32,623		$	23,288


Net deferred tax liabilities	$	(17,551	)	$	(8,865	)


Consolidated balance sheet classification:
Net current deferred tax assets	$	4,275		$	5,396
Net non-current deferred tax liabilities		(21,826	)		(14,261	)

Net deferred tax liabilities	$	(17,551	)	$	(8,865	)


Net deferred tax liabilities by tax jurisdiction:
Federal	$	(15,724	)	$	(8,202	)
State		(1,827	)		(663	)

Net deferred tax liabilities	$	(17,551	)	$	(8,865	)

All of our income before taxes relates to domestic operations. Detailed below are the differences between the amount of the provision for income taxes and the amount which would result from the application of the federal statutory rate to “Income from continuing operations before provision for income taxes”.


	2011			2010			2009
	(In Thousands)
Provisions for income taxes at federal statutory rate	$	45,567		$	17,326		$	12,906
State current and deferred income taxes		5,088			3,259			1,832
Domestic production activities deduction		(3,091	)		(1,371	)		(282	)
Effect of tax return to tax provision reconciliation		(958	)		(126	)		676
Other		(398	)		699			(108	)

Provisions for income taxes	$	46,208		$	19,787		$	15,024

A reconciliation of the beginning and ending amount of uncertain tax positions is as follows:


	2011			2010			2009
	(In Thousands)
Balance at beginning of year	$	700		$	608		$	898
Additions based on tax positions related to the current year		217			131			48
Additions based on tax positions of prior years		—			—			82
Reductions for tax positions of prior years		(51	)		(35	)		(355	)
Settlements		(157	)		(4	)		(65	)

Balance at end of year	$	709		$	700		$	608

We expect that the amount of unrecognized tax benefits may change as the result of ongoing operations, the outcomes of audits, and the expiration of statute of limitations. This change is not expected to have a significant impact on our results of operations or the financial condition. The total amount of unrecognized tax benefits that would impact the effective tax rate, if recognized, was $461,000, $455,000 and $400,000, net of federal expense, in 2011, 2010, and 2009, respectively.

We record interest related to unrecognized tax positions in interest expense and penalties in operating other expense. During 2011, 2010, and 2009, we recognized $42,000, $104,000 and $150,000, respectively, in interest and penalties associated with unrecognized tax benefits. We had approximately $213,000 and $215,000 accrued for interest and penalties at December 31, 2011 and 2010, respectively.

LSB and certain of its subsidiaries file income tax returns in the U.S. federal jurisdiction and various state jurisdictions. With few exceptions, the 2008-2010 years remain open for all purposes of examination by the U.S. Internal Revenue Service (“IRS”) and other major tax jurisdictions. Currently, we are under examination by the IRS and certain state tax authorities for the tax years 2007-2010.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Paragraph h
-Article 4

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 109
-Paragraph 136, 172
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 109
-Paragraph 43, 44, 45, 46, 47, 48, 49
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32718-109319

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(h))
-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32559-109319

+ Details

Commitments and Contingencies

12 Months Ended

Dec. 31, 2011

Commitments and Contingencies [Abstract]

Commitments and Contingencies

11. Commitments and Contingencies

Capital and Operating Leases — We lease certain PP&E under capital leases and non-cancelable operating leases. Leased assets meeting capital lease criteria have been capitalized and the present value of the related lease payments is included in long-term debt. Future minimum payments on leases with initial or remaining terms of one year or more at December 31, 2011, are as follows:


	Capital		Operating
	Leases		Leases		Total
	(In Thousands)
2012	$	412	$	5,635	$	6,047
2013		349		4,585		4,934
2014		36		3,453		3,489
2015		—		1,554		1,554
2016		—		1,127		1,127
Thereafter		—		3,913		3,913

Total minimum lease payments		797	$	20,267	$	21,064

Less amounts representing interest		48

Present value of minimum lease payments included in long-term debt	$	749

Expenses associated with our operating lease agreements, including month-to-month leases, was $7,773,000 in 2011, $6,079,000 in 2010 and $8,584,000 in 2009. Renewal options are available under certain of the lease agreements for various periods at approximately the existing annual rental amounts.

Purchase and Sales Commitments — We have the following significant purchase and sales commitments.

Bayer Agreement — During 2008, subsidiaries within our Chemical Business, EDN and EDC, entered into a new agreement (the “Bayer Agreement”) with Bayer Material Science LLC (“Bayer”) replacing a previous agreement. EDN operates Bayer’s nitric acid plant (the “Baytown Facility”) located within Bayer’s chemical manufacturing complex. The Bayer Agreement became effective in June 2009, and is for an initial term of five years, with certain renewal options. Under the terms of the Bayer Agreement, Bayer purchases from EDN all of Bayer’s requirements for nitric acid for use in Bayer’s chemical manufacturing complex located in Baytown, Texas that provides a pass-through of certain costs plus a profit. In addition, EDN is responsible for the maintenance and operation of the Baytown Facility. If there is a change in control of EDN, Bayer has the right to terminate the Bayer Agreement upon payment of certain fees to EDN.

Anhydrous ammonia purchase agreement — During February 2010, EDC signed an extension of EDC’s anhydrous ammonia purchase agreement with Koch Nitrogen International Sarl (“Koch”). Under the extension, Koch agrees to supply certain of EDC’s requirements of anhydrous ammonia through December 31, 2012.

Ammonium nitrate supply agreement — During February 2010, EDC entered into a cost-plus supply agreement with Orica International Pte Ltd. (“Orica International”) to supply Orica International with 240,000 tons per year of industrial grade ammonium nitrate (“AN”) through December 2014. This agreement replaced EDC’s previous agreement with Orica USA, Inc.

UAN supply agreement — In 2009, one of our subsidiaries, Pryor Chemical Company (“PCC”), entered into a contract with Koch Nitrogen Company, LLC (“Koch Nitrogen”) under which Koch Nitrogen agrees to purchase and distribute at market prices substantially all of the urea ammonium nitrate (“UAN”) produced at the Pryor Facility through June 30, 2014, but either party has an option to terminate the agreement pursuant to the terms of the contract.

Other purchase and sales commitments — See Note 12 — Derivatives, Hedges, Financial Instruments and Carbon Credits for our commitments relating to derivative contracts and carbon credits at December 31, 2011. During 2011, certain subsidiaries within the Chemical Business entered into contracts to purchase natural gas for anticipated production needs at the Cherokee and Pryor Facilities. Since these contracts are considered normal purchases because they provide for the purchase of natural gas that will be delivered in quantities expected to be used over a reasonable period of time in the normal course of business and are documented as such, these contracts are exempt from the accounting and reporting requirements relating to derivatives. At December 31, 2011, our purchase commitments under these contracts were for approximately 3.0 million MMBtu of natural gas through August 2012 at the weighted-average cost of $3.62 per MMBtu ($10.9 million) and a weighted-average market value of $3.06 per MMBtu ($9.2 million). In addition, we also had standby letters of credit outstanding of approximately $1.9 million at December 31, 2011. We also had deposits from customers of $4.5 million for forward sales commitments including $0.3 million relating to our Climate Control Business and $3.8 million relating to our Chemical Business at December 31, 2011.

Performance and Payment Bonds — We are contingently liable to sureties in respect of insurance bonds issued by the sureties in connection with certain contracts entered into by subsidiaries in the normal course of business. These insurance bonds primarily represent guarantees of future performance of our subsidiaries. As of December 31, 2011, we have agreed to indemnify the sureties for payments, up to $12.2 million, made by them in respect of such bonds. All of these insurances bonds are expected to expire or be renewed in 2012.

Universal Shelf Registration Statement — In 2009, we filed a universal shelf registration statement on Form S-3, with the Securities and Exchange Commission (“SEC”). The shelf registration statement provides that we could offer and sell up to $200 million of our securities consisting of equity (common and preferred), debt (senior and subordinated), warrants and units, or a combination thereof. The shelf registration statement expires in November 2012 unless we decide to file a post effective amendment, which is subject to a review by the SEC.

Employment and Severance Agreements — We have an employment agreement and severance agreements with several of our officers. The agreements, as amended, provide for annual base salaries, bonuses and other benefits commonly found in such agreements. In the event of termination of employment due to a change in control (as defined in the agreements), the agreements provide for payments aggregating $12.6 million at December 31, 2011.

Legal Matters — Following is a summary of certain legal matters involving the Company.

A. Environmental Matters

Our operations are subject to numerous environmental laws (“Environmental Laws”) and to other federal, state and local laws regarding health and safety matters (“Health Laws”). In particular, the manufacture and distribution of chemical products are activities which entail environmental risks and impose obligations under the Environmental Laws and the Health Laws, many of which provide for certain performance obligations, substantial fines and criminal sanctions for violations. There can be no assurance that we will not incur material costs or liabilities in complying with such laws or in paying fines or penalties for violation of such laws. The Environmental Laws and Health Laws and enforcement policies thereunder relating to our Chemical Business have in the past resulted, and could in the future result, in compliance expenses, cleanup costs, penalties or other liabilities relating to the handling, manufacture, use, emission, discharge or disposal of effluents at or from our facilities or the use or disposal of certain of its chemical products. Historically, significant expenditures have been incurred by subsidiaries within our Chemical Business in order to comply with the Environmental Laws and Health Laws and are reasonably expected to be incurred in the future.

We will recognize a liability for the fair value of a conditional asset retirement obligation if the fair value of the liability can be reasonably estimated. We are obligated to monitor certain discharge water outlets at our Chemical Business facilities should we discontinue the operations of a facility. We are also contractually obligated through at least December 2053 to pay a portion of the operating costs of a municipally owned wastewater pipeline currently being constructed, which will serve the El Dorado Facility. Additionally, we have certain facilities in our Chemical Business that contain asbestos insulation around certain piping and heated surfaces, which we plan to maintain or replace, as needed, with non-asbestos insulation through our standard repair and maintenance activities to prevent deterioration. Currently, there is insufficient information to estimate the fair value for most of our asset retirement obligations. In addition, we currently have no plans to discontinue the use of these facilities and the remaining life of the facilities is indeterminable. As a result, no asset retirement obligations have been recognized except for $75,000 to retire an injection well at the Pryor Facility. However, we will continue to review these obligations and record a liability when a reasonable estimate of the fair value can be made.

1. Discharge Water Matters

The El Dorado Facility owned by EDC generates process wastewater, which includes cooling tower and boiler water quality control streams, contact storm water (rain water inside the facility area which picks up contaminants) and miscellaneous spills and leaks from process equipment. The process water discharge, storm-water runoff and miscellaneous spills and leaks are governed by a state National Pollutant Discharge Elimination System (“NPDES”) discharge water permit issued by the Arkansas Department of Environmental Quality (“ADEQ”), which permit is generally required to be renewed every five years. The El Dorado Facility is currently operating under a NPDES discharge water permit, which became effective in 2004 (“2004 NPDES permit”). In November 2010, a preliminary draft of a discharge water permit renewal, which contains more restrictive ammonia limits, was issued by the ADEQ for EDC’s review. EDC submitted comments to the ADEQ on the draft permit in December 2010.

The El Dorado Facility has generally demonstrated its ability to comply with applicable ammonia and nitrate permit limits, but has, from time to time, had difficulty demonstrating consistent compliance with the more restrictive dissolved minerals permit levels. As part of the El Dorado Facility’s long-term compliance plan, EDC has pursued a rulemaking and permit modification with the ADEQ. The ADEQ approved a rule change, but on August 31, 2011, the United States Environmental Protection Agency (“EPA”) formally disapproved the rule change. On October 7, 2011, EDC filed a lawsuit against the EPA in the United States District Court, El Dorado, Arkansas, appealing the EPA’s decision disapproving the rule change. At this time, we do not believe that the occasional noncompliance will have a material adverse impact on EDC. We do not believe this matter regarding the dissolved minerals will be an issue once the pipeline discussed below is operational.

During January 2010, EDC received an Administrative Order from the EPA noting certain violations of the 2004 NPDES permit and requesting EDC to demonstrate compliance with the permit or provide a plan and schedule for returning to compliance. EDC provided a response which states that the El Dorado Facility is now in compliance with the permit, except for an occasional difficulty demonstrating consistent compliance with the more restrictive dissolved minerals permit limits; that the El Dorado Facility expects to be able to maintain compliance and that a majority of the alleged violations were resolved through a consent administrative order with the ADEQ. In June 2011, EDC received an Administrative Complaint from the EPA reciting past violations of the 2004 NPDES permit that had not been addressed by previous ADEQ Consent Administrative Orders and seeking a penalty of $124,000. EDC has met with EPA to discuss the Administrative Complaint and EDC’s plans for addressing the occasional non compliance with the NPDES Permit, as discussed above. EDC has met, and continues to meet, with the EPA to explain its objections against the proposed penalty. In December 2011, EDC was notified by the EPA that the matter has been taken over by the United States Department of Justice (“DOJ”), the current Administrative Complaint will be withdrawn, and the EPA and DOJ will handle this as a joint enforcement matter. On January 11, 2012, EPA filed a motion requesting authorization to withdraw the Administrative Complaint so that it could proceed with a judicial enforcement proceeding against EDC and certain other companies in the El Dorado, Arkansas, area that have also agreed to use the pipeline discussed below, all of whom have alleged outstanding NPDES permit violations. It is anticipated that EPA’s motions will be granted. A liability of $124,000 has been established at December 31, 2011 relating to this matter.

The city of El Dorado, Arkansas (the “City”) received approval to construct a pipeline for disposal of wastewater generated by the City and by certain companies in the El Dorado area. However, in November 2011, opponents of the pipeline filed a lawsuit against the City and the pipeline consultants for alleged violations of the Freedom of Information Act. We do not believe that this lawsuit will affect the City’s approval, or the City’s construction, of the pipeline. The companies intending to use the pipeline will contribute to the cost of construction and operation of the pipeline. Although EDC believes it can comply with the more restrictive permit limits without the pipeline, EDC will participate in the construction of the pipeline that will be owned by the City in order to ensure that EDC will be able to comply with future permit limits. During April 2011, certain companies, including EDC, and the City entered into a funding agreement and operating agreement, pursuant to which each party to the agreements has agreed to contribute to the cost of construction and the annual operating costs of the pipeline for the right to use the pipeline to dispose its wastewater. EDC anticipates its capital cost in connection with the construction of the pipeline will be approximately $4.0 million, of which $0.5 million has been capitalized as of December 31, 2011. The City plans to complete the construction of the pipeline by mid-2014. Once the pipeline is completed, EDC’s estimated share of the annual operating costs is to be $100,000 to $150,000. The initial term of the operating agreement is through December 2053.

In addition, the El Dorado Facility is currently operating under a consent administrative order (“2006 CAO”) that recognizes the presence of nitrate contamination in the shallow groundwater. The 2006 CAO required EDC to continue semi-annual groundwater monitoring, to continue operation of a groundwater recovery system and to submit a human health and ecological risk assessment to the ADEQ relating to the El Dorado Facility. The final remedy for shallow groundwater contamination, should any remediation be required, will be selected pursuant to a new consent administrative order and based upon the risk assessment. The cost of any additional remediation that may be required will be determined based on the results of the investigation and risk assessment, which costs (or range of costs) cannot currently be reasonably estimated. Therefore, no liability has been established at December 31, 2011, in connection with this matter.

2. Air Matters

The EPA has sent information requests to most, if not all, of the operators of nitric acid plants in the United States, including our El Dorado and Cherokee Facilities and the Baytown Facility operated by EDN under Section 114 of the Clean Air Act as to construction and modification activities at each of these facilities over a period of years. These information requests will enable the EPA to determine whether these facilities are in compliance with certain provisions of the Clean Air Act. In connection with a review by our Chemical Business of these facilities in obtaining information for the EPA pursuant to the EPA’s request, our Chemical Business management believes, subject to further review, investigation and discussion with the EPA, that certain facilities within our Chemical Business may be required to make certain capital improvements to certain emission equipment in order to comply with the requirements of the Clean Air Act. If changes to the production equipment at these facilities are required in order to bring this equipment into compliance with the Clean Air Act, the type of emission control equipment that might be required is unknown and, as a result, the amount of capital expenditures necessary in order to bring the equipment into compliance is unknown at this time but could be substantial.

Further, if it is determined that the equipment at any of our chemical facilities has not met the requirements of the Clean Air Act, our Chemical Business could be subject to penalties in an amount not to exceed $27,500 per day as to each facility not in compliance and be required to retrofit each facility with the “best available control technology.”

Our Chemical Business has provided to the EPA a proposed settlement offer in connection with this matter. While the total capital cost to achieve the emission rates being proposed by our Chemical Business in the settlement offer has not been determined, the total capital cost could be significant and involving up to nine of our affected nitric acid plants. Our Chemical Business’ proposed settlement offer did not provide an amount of any proposed civil penalty, if any, but we anticipate that the EPA will require a civil penalty. Therefore a liability of $100,000 has been established at December 31, 2011, in connection with this matter.

3. Other Environmental Matters

In 2002, two subsidiaries within our Chemical Business, sold substantially all of their operating assets relating to a Kansas chemical facility (“Hallowell Facility”) but retained ownership of the real property. At December 31, 2002, even though we continued to own the real property, we did not assess our continuing involvement with our former Hallowell Facility to be significant and therefore accounted for the sale as discontinued operations. In connection with this sale, our subsidiary leased the real property to the buyer under a triple net long-term lease agreement. However, our subsidiary retained the obligation to be responsible for, and perform the activities under, a previously executed consent order to investigate the surface and subsurface contamination at the real property and a corrective action strategy based on the investigation. In addition, certain of our subsidiaries agreed to indemnify the buyer of such assets for these environmental matters. Based on the assessment discussed above, we account for transactions associated with the Hallowell Facility as discontinued operations.

The successor (“Chevron”) of a prior owner of the Hallowell Facility has agreed in writing, within certain limitations, to pay and has been paying one-half of the costs of the interim measures relating to this matter as approved by the Kansas Department of Environmental Quality, subject to reallocation.

Our subsidiary and Chevron are pursuing with the state of Kansas a course of long-term surface and groundwater monitoring to track the natural decline in contamination. Currently, our subsidiary and Chevron are in the process of performing additional surface and groundwater testing. We have accrued for our allocable portion of costs for the additional testing, monitoring and risk assessments that could be reasonably estimated.

In addition, the Kansas Department of Health and Environment (“KDHE”) notified our subsidiary and Chevron that the Hallowell Facility has been referred to the KDHE’s Natural Resources Trustee, who is to consider and recommend restoration, replacement and/or whether to seek compensation. KDHE will consider the recommendations in their evaluation.

Currently, it is unknown what damages, if any, the KDHE would claim, if any. The ultimate required remediation, if any, is unknown. The nature and extent of a portion of the requirements are not currently defined and the associated costs (or range of costs) are not reasonably estimable.

At December 31, 2011, our estimated allocable portion of the total estimated liability (which is included in current accrued and other liabilities) related to the Hallowell Facility is $105,000. The estimated amount is not discounted to its present value. It is reasonably possible that a change in the estimate of our liability could occur in the near term.

B. Other Pending, Threatened or Settled Litigation

The Jayhawk Group

In November 2006, we entered into an agreement with Jayhawk Capital Management, LLC, Jayhawk Investments, L.P., Jayhawk Institutional Partners, L.P. and Kent McCarthy, the manager and sole member of Jayhawk Capital, (collectively, the “Jayhawk Group”), in which the Jayhawk Group agreed, among other things, that if we undertook, in our sole discretion, within one year from the date of agreement a tender offer for our Series 2 $3.25 convertible exchangeable Class C preferred stock (“Series 2 Preferred”) or to issue our common stock for a portion of our Series 2 Preferred pursuant to a private exchange, that they would tender or exchange an aggregate of no more than 180,450 shares of the 340,900 shares of the Series 2 Preferred beneficially owned by the Jayhawk Group, subject to, among other things, the entities owned and controlled by Jack E. Golsen, our chairman and chief executive officer (“Golsen”), and his immediate family, that beneficially own Series 2 Preferred only being able to exchange or tender approximately the same percentage of shares of Series 2 Preferred beneficially owned by them as the Jayhawk Group was able to tender or exchange under the terms of the agreement.

During 2007, we made a tender offer for our outstanding Series 2 Preferred at the rate of 7.4 shares of our common stock for each share of Series 2 Preferred so tendered. In July 2007, we redeemed the balance of our outstanding shares of Series 2 Preferred. Pursuant to its terms, the Series 2 Preferred was convertible into 4.329 shares of our common stock for each share of Series 2 Preferred. As a result of the redemption, the Jayhawk Group converted the balance of its Series 2 Preferred pursuant to the terms of the Series 2 Preferred in lieu of having its shares redeemed.

The Jayhawk Group has filed suit against us and Golsen alleging that the Jayhawk Group should have been able to tender all of its Series 2 Preferred pursuant to the tender offer, notwithstanding the above-described agreement, based on the following claims against us and Golsen:

•

fraudulent inducement and fraud,

•

violation of 10(b) of the Exchange Act and Rule 10b-5,

•

violation of 17-12A501 of the Kansas Uniform Securities Act, and

•

breach of contract.

The Jayhawk Group seeks damages up to $12 million based on the additional number of common shares it allegedly would have received on conversion of all of its Series 2 Preferred through the February 2007 tender offer, plus punitive damages. In May 2008, the General Counsel for the Jayhawk Group offered to settle its claims against us and Golsen in return for a payment of $100,000, representing the approximate legal fees it had incurred investigating the claims at that time. Through counsel, we verbally agreed to the settlement offer and confirmed the agreement by e-mail. Afterward, the Jayhawk Group’s General Counsel purported to withdraw the settlement offer, and asserted that Jayhawk is not bound by any settlement agreement. We contend that the settlement agreement is binding on the Jayhawk Group. During September 2011, this case was tried before the court in the United States District Court for the District of Kansas. We are awaiting the court’s decision in this matter. Our insurer, Chartis, a subsidiary of AIG, has agreed to defend this lawsuit on our behalf and to indemnify under a reservation of rights to deny liability under certain conditions. We have incurred expenses associated with this matter up to our insurance deductible of $250,000, and our insurer is paying defense costs in excess of our deductible in this matter. Although our insurer is defending this matter under a reservation of rights, we are not currently aware of any material issue in this case that would result in our insurer denying coverage. Therefore, no liability has been established at December 31, 2011 as a result of this matter.

Other Claims and Legal Actions

We are also involved in various other claims and legal actions including claims for damages resulting from water leaks related to our Climate Control products and other product liability occurrences. Most of the product liability claims are covered by our general liability insurance, which generally includes a deductible of $250,000 per claim. For any claims or legal actions that we have assessed the likelihood of our liability as probable, we have recognized our estimated liability up to the applicable deductible. At December 31, 2011, our accrued general liability insurance claims were $739,000 and are included in accrued and other liabilities. It is possible that the actual development of claims could be different from our estimates but, after consultation with legal counsel, if those general liability insurance claims for which we have not recognized a liability were determined adversely to us, it would not have a material effect on our business, financial condition or results of operations.

- Definition

The entire disclosure for commitments and contingencies.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Interpretation (FIN)
-Number 14
-Paragraph 3
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 5
-Paragraph 9, 10, 11, 12
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.25)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 4: http://www.xbrl.org/2003/role/presentationRef
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Reference 5: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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+ Details

Derivatives, Hedges, Financial Instruments and Carbon Credits

12 Months Ended

Dec. 31, 2011

Derivatives, Hedges, Financial Instruments and Carbon Credits [Abstract]

Derivatives, Hedges, Financial Instruments and Carbon Credits

12. Derivatives, Hedges, Financial Instruments and Carbon Credits

We have three classes of contracts that are accounted for on a fair value basis, which are commodities futures/forward contracts (“commodities contracts”), foreign exchange contracts and interest rate contracts as discussed below. All of these contracts are used as economic hedges for risk management purposes but are not designated as hedging instruments. In addition as discussed below, we are issued climate reserve tonnes (“carbon credits”), which a certain portion of the carbon credits are to be sold and the proceeds given to Bayer. The carbon credits are accounted for on a fair value basis as discussed below. Also the contractual obligations associated with these carbon credits are accounted for on a fair value basis (as discussed below) unless we enter into a firm sales commitment to sell the carbon credits as discussed in Note 1 — Summary of Significant Accounting Policies. The valuations of these assets and liabilities were determined based on quoted market prices or, in instances where market quotes are not available, other valuation techniques or models used to estimate fair values.

The valuations of contracts classified as Level 1 are based on quoted prices in active markets for identical contracts. The valuations of contracts classified as Level 2 are based on quoted prices for similar contracts and valuation inputs other than quoted prices that are observable for these contracts. At December 31, 2011, the valuations of contracts classified as Level 2 related to interest rate swap contracts. For interest rate swap contracts, we utilize valuation software and market data from a third-party provider. These interest rate contracts are valued using a discounted cash flow model that calculates the present value of future cash flows pursuant to the terms of the contracts and using market information for forward interest-rate yield curves. The valuation inputs included the total contractual weighted-average pay rate of 3.27% and the total estimated market weighted-average receive rate of 0.99%. No valuation input adjustments were considered necessary relating to nonperformance risk for the contracts.

The valuations of assets and liabilities classified as Level 3 are based on prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement. At December 31, 2011, the valuations ($3.15 per carbon credit) of the carbon credits and the contractual obligations associated with these carbon credits are classified as Level 3 and are based on the range of ask/bid prices ($1.00 to $3.00) per carbon credit obtained from a broker involved in this low volume market, the sales price of a December 2011 transaction and an offer received from a potential customer. At December 31, 2010, the valuations ($3.25 per carbon credit) of the carbon credits and the contractual obligations associated with these carbon credits are classified as Level 3 and are based on the range of ask/bid prices ($3.00 to $5.00) per carbon credit obtained from a broker involved in this low volume market, pricing terms included in a sales agreement being negotiated at December 31, 2010, and inquiries from market participants concerning our listed ask price through a broker. The valuations are using undiscounted cash flows based on management’s assumption that the carbon credits would be sold and the associated contractual obligations would be extinguished in the near term. In addition, no valuation input adjustments were considered necessary relating to nonperformance risk for the carbon credits and associated contractual obligations.

Commodities Contracts

Raw materials for use in our manufacturing processes include copper used by our Climate Control Business and anhydrous ammonia and natural gas used by our Chemical Business. As part of our raw material price risk management, we periodically enter into futures/forward contracts for these materials, which contracts may be required to be accounted for on a mark-to-market basis. At December 31, 2010, our futures/forward copper contracts were for 750,000 pounds of copper through May 2011 at a weighted-average cost of $3.75 per pound. At December 31, 2011, our futures/forward copper contracts were for 375,000 pounds of copper through May 2012 at a weighted-average cost of $3.42 per pound. At December 31, 2010, our futures/forward natural gas contracts were for 800,000 MMBtu of natural gas through February 2011 at a weighted-average cost of $4.10 per MMBtu. At December 31, 2011, we did not have any futures/forward natural gas contracts requiring mark-to-market accounting. The cash flows relating to these contracts are included in cash flows from continuing operating activities.

Foreign Exchange Contracts

One of our business operations purchases industrial machinery and related components from vendors outside of the United States. As part of our foreign currency risk management, we periodically enter into foreign exchange contracts, which set the U.S. Dollar/Euro exchange rates. These contracts are free-standing derivatives and are accounted for on a mark-to-market basis. At December 31, 2010, our foreign exchange contracts were for the receipt of approximately 783,000 Euros through June 2011 and for the payment of approximately 110,000 Euros through March 2011, at the total contractual weighted-average exchange rate of 1.26 (U.S. Dollar/Euro). At December 31, 2011, we did not have any foreign exchange contracts. The cash flows relating to these contracts are included in cash flows from continuing operating activities.

Interest Rate Contracts

As part of our interest rate risk management, we periodically purchase and/or enter into various interest rate contracts. In April 2008, we entered into an interest rate swap at no cost, which sets a fixed three-month LIBOR rate of 3.24% on $25 million and matures in April 2012. In September 2008, we acquired an interest rate swap at a cost basis of $0.4 million, which sets a fixed three-month LIBOR rate of 3.595% on $25 million and matures in April 2012. In February 2011, we entered into an interest rate swap at no cost, which sets a fixed three-month LIBOR rate of 3.23% on a declining balance (from $23.8 million to $18.8 million) for the period beginning in April 2012 through March 2016.

These contracts are free-standing derivatives and are accounted for on a mark-to-market basis. During each of the three years ended December 31, 2011, no cash flows occurred relating to the purchase or sale of interest rate contracts. The cash flows associated with the interest rate swap payments are included in cash flows from continuing operating activities.

Carbon Credits and Associated Contractual Obligation

During 2010 and 2011, we were issued carbon credits by the Climate Action Reserve in relation to a greenhouse gas reduction project (“Project”) performed at the Baytown Facility. Pursuant to the terms of the agreement with Bayer, a certain portion of the carbon credits are to be used to recover the costs of the Project, and any balance thereafter to be allocated between Bayer and EDN. We have no obligation to reimburse Bayer for their costs associated with the Project, except through the transfer or sale of the carbon credits when such credits are issued to us. The carbon credits are accounted for on a fair value basis and the contractual obligations associated with these carbon credits are also accounted for on a fair value basis (unless we enter into a firm sales commitment to sell the carbon credits). At December 31, 2010, we had approximately 198,000 carbon credits, all of which were subject to contractual obligations. At December 31, 2011, we had a minimal amount of carbon credits, all of which were subject to contractual obligations. The cash flows associated with the carbon credits and the associated contractual obligations are included in cash flows from continuing investing activities.

The following details our assets and liabilities that are measured at fair value on a recurring basis at December 31, 2011 and 2010:


			Fair Value Measurements at
			December 31, 2011 Using
			Quoted Prices		Significant
	Total Fair		in Active		Other		Significant		Total Fair
	Value at		Markets for		Observable		Unobservable		Value at
	December 31,		Identical Assets		Inputs		Inputs		December 31,
	2011		(Level 1)		(Level 2)		(Level 3)		2010
Description	(In Thousands)

Assets — Supplies, prepaid items and other:
Commodities contracts	$	11	$	11	$	—	$	—	$	761
Carbon credits		42		—		—		42		644
Foreign exchange contracts		—		—		—		—		49

Total	$	53	$	11	$	—	$	42	$	1,454


Liabilities — Current and noncurrent accrued and other liabilities:
Contractual obligations — carbon credits	$	42	$	—	$	—	$	42	$	644
Interest rate contracts		2,241		—		2,241		—		1,895

Total	$	2,283	$	—	$	2,241	$	42	$	2,539

During 2011 and 2010, none of our assets or liabilities measured at fair value on a recurring basis transferred between Level 1 and Level 2 classifications. In addition, the following is a reconciliation of the beginning and ending balances for assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3):


	Assets							Liabilities
	2011			2010		2009		2011			2010			2009
	(In Thousands)
Beginning balance	$	644		$	—	$	—	$	(644	)	$	—		$	(1,388	)
Transfers into Level 3		—			—		—		—			—			—
Transfers out of Level 3		—			—		—		—			—			—
Total realized and unrealized gains (losses) included in earnings		1,995			644		—		(1,844	)		(644	)		493
Purchases		—			—		—		—			—			—
Issuances		—			—		—		—			—			—
Sales		(2,597	)		—		—		—			—			—
Settlements		—			—		—		2,446			—			895

Ending balance	$	42		$	644	$	—	$	(42	)	$	(644	)	$	—

Total gains (losses) for the period included in earnings attributed to the change in unrealized gains or losses on assets and liabilities still held at the reporting date	$	42		$	644	$	—	$	(42	)	$	(644	)	$	—

Realized and unrealized net losses included in earnings and the income statement classifications are as follows:


	2011			2010			2009
	(In Thousands)
Total net gains (losses) included in earnings:
Cost of sales — Commodities contracts	$	(523	)	$	(59	)	$	(1,312	)
Cost of sales — Foreign exchange contracts		46			25			(32	)
Other income — Carbon credits		1,995			644			—
Other expense — Contractual obligations relating to carbon credits		(1,844	)		(644	)		—
Interest expense — Interest rate contracts		(1,925	)		(1,527	)		(729	)

	$	(2,251	)	$	(1,561	)	$	(2,073	)


Change in unrealized gains (losses) relating to contracts still held at year end:
Cost of sales — Commodities contracts	$	11		$	761		$	138
Cost of sales — Foreign exchange contracts		—			49			—
Other income — Carbon credits		42			644			—
Other expense — Contractual obligations relating to carbon credits		(42	)		(644	)		—
Interest expense — Interest rate contracts		(346	)		34			508

	$	(335	)	$	844		$	646

The following discussion of fair values is not indicative of the overall fair value of our assets and liabilities since it does not include all assets, including intangibles.

Our long-term debt agreements are the only financial instruments with fair values significantly different from their carrying amounts. At December 31, 2011 and 2010, the fair value for variable interest rate debt (excluding the secured term loan at December 31, 2010) approximates their carrying value. At December 31, 2010, the estimated fair value of the secured term loan is based on defined LIBOR rates plus 6% utilizing information obtained from the lender. The fair values of fixed interest rate borrowings, other than the 2007 Debentures, are estimated using a discounted cash flow analysis that applies interest rates currently being offered on borrowings of similar amounts and terms to those currently outstanding while also taking into consideration our current credit worthiness. At December 31, 2010, the estimated fair value of the 2007 Debentures is based on quoted prices obtained from a broker for these debentures. The estimated fair value and carrying value of our long-term debt are as follows:


	December 31, 2011				December 31, 2010
	Estimated		Carrying		Estimated		Carrying
	Fair Value		Value		Fair Value		Value
	(In Thousands)
Variable Interest Rate:
Secured Term Loan (1)	$	72,188	$	72,188	$	26,721	$	48,773
Working Capital Revolver Loan		—		—		—		—
Other debt (2)		—		—		2,437		2,437

Fixed Interest Rate:
5.5% Convertible Senior Subordinated Notes		—		—		27,976		26,900
Other bank debt and equipment financing		7,211		7,272		17,251		17,282

	$	79,399	$	79,460	$	74,385	$	95,392


(1)		Includes a fixed interest rate of 5.15% on the principal amount of $24.1 million at December 31, 2011.

(2)		At December 31, 2010, the balance includes a variable interest rate debt agreement with a minimum interest rate of 6%, which interest rate was 6%.

Other

In 1997, we entered into an interest rate forward agreement to effectively fix the interest rate of a long-term lease commitment (not for trading purposes). In 1999, we executed a long-term lease agreement (initial lease term of ten years) and terminated the forward agreement at a net cost of $2.8 million. We historically accounted for this cash flow hedge under the deferral method (as an adjustment of the initial term lease rentals). As the result of accounting principles becoming effective in 2001, the remaining deferred cost amount was reclassified from other assets to accumulated other comprehensive loss and was being amortized to operations over the term of the lease arrangement, which expired in 2009. The amount amortized to operations was $120,000 for 2009 and (none in 2010 and 2011). The associated income tax benefits were minimal in 2009.

- Definition

The entire disclosure for the entity's entire derivative instruments and hedging activities. Describes an entity's risk management strategies, derivatives in hedging activities and non-hedging derivative instruments, the assets, obligations, liabilities, revenues and expenses arising therefrom, and the amounts of and methodologies and assumptions used in determining the amounts of such items.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 133
-Paragraph 45
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 133
-Paragraph 44
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
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+ Details

Stockholders' Equity

12 Months Ended

Dec. 31, 2011

Stockholders' Equity [Abstract]

Stockholders' Equity

13. Stockholders’ Equity

Approval of Stock Incentive Plan in 2008 — During 2008, our board of directors adopted our 2008 Incentive Stock Plan (the “2008 Plan”), which plan was approved by our shareholders at our annual meeting of shareholders held on June 5, 2008. The number of shares of our common stock available for issuance under the 2008 Plan is 1,000,000 shares, subject to adjustment. Under the 2008 Plan, awards may be made to any employee, officer or director of the Company and its affiliated companies. An award may also be granted to any consultant, agent, advisor or independent contractor for bona fide services rendered to the Company or any affiliate (as defined in the 2008 Plan), subject to certain conditions. The 2008 Plan is being administered by the compensation and stock option committee (the “Committee”) of our board of directors.

Our board of directors or the Committee may amend the 2008 Plan, except that if any applicable statute, rule or regulation requires shareholder approval with respect to any amendment of the 2008 Plan, then to the extent so required, shareholder approval will be obtained. Shareholder approval will also be obtained for any amendment that would increase the number of shares stated as available for issuance under the 2008 Plan. Unless sooner terminated by our board of directors, the 2008 Plan expires on June 5, 2018.

The following may be granted by the Committee under the 2008 Plan:

Stock Options — The Committee may grant either incentive stock options or non-qualified stock options. The Committee sets option exercise prices and terms, except that the exercise price of a stock option may be no less than 100% of the fair market value, as defined in the 2008 Plan, of the shares on the date of grant. At the time of grant, the Committee will have sole discretion in determining when stock options are exercisable and when they expire, except that the term of a stock option cannot exceed 10 years.

Stock Appreciation Rights (“SARs”) — The Committee may grant SARs as a right in tandem with the number of shares underlying stock options granted under the 2008 Plan or on a stand-alone basis. SARs are the right to receive payment per share of the SAR exercised in stock or in cash equal to the excess of the share’s fair market value, as defined in the 2008 Plan, on the date of exercise over its fair market value on the date the SAR was granted. Exercise of an SAR issued in tandem with stock options will result in the reduction of the number of shares underlying the related stock option to the extent of the SAR exercise.

Stock Awards, Restricted Stock, Restricted Stock Units, and Other Awards - The Committee may grant awards of restricted stock, restricted stock units, and other stock and cash-based awards, which may include the payment of stock in lieu of cash (including cash payable under other incentive or bonus programs) or the payment of cash (which may or may not be based on the price of our common stock).

Stock-Based Compensation — During 2011, the Committee approved the grants under the 2008 Plan of 249,000 shares of qualified stock options (the “2011 Qualified Options”) to certain employees and our board of directors (with the recipient abstaining) approved the grant of 5,000 shares of non-qualified stock options (“2011 Non-Qualified Options”) to one of our outside directors. During 2010 and 2009, the Committee did not grant any awards under the 2008 Plan. The exercise price of the 2011 Qualified and Non-Qualified Options was equal to the market value of our common stock at the date of grant. The 2011 Qualified and Non-Qualified Options vest at the end of each one-year period at the rate of 16.5% per year for the first five years and the remaining unvested options will vest at the end of the sixth year. Pursuant to the terms of the 2011 Non-Qualified Options, if a termination event occurs, as defined, the non-vested 2011 Non-Qualified Options will become fully vested and exercisable for a period of one year from the date of the termination event. Excluding the non-qualified stock options relating to a termination event, the 2011 Qualified and Non-Qualified Options expire in 2021. The fair value for the 2011 Qualified and Non-Qualified Options was estimated, using an option pricing model, as of the date of the grant, which date was also the service inception date.

The fair value for the 2011 Qualified and Non-Qualified Options was estimated using a Black-Scholes-Merton option pricing model with the following assumptions:

•

risk-free interest rate based on an U.S. Treasury zero-coupon issue with a term approximating the estimated expected life as of the grant date;

•

a dividend yield based on historical data;

•

volatility factors of the expected market price of our common stock based on historical volatility of our common stock primarily over approximately six years from the date of grant; and

•

a weighted-average expected life of the options based on the historical exercise behavior of these employees and outside director, if applicable.

The following table summarizes information about these granted stock options:


	2011			2010			2009

Weighted-average risk-free interest rate		1.21	%		N/A			N/A
Dividend yield		—			N/A			N/A
Weighted-average expected volatility		48.59	%		N/A			N/A
Total weighted-average expected forfeiture rate		2.97	%		N/A			N/A
Weighted-average expected life (years)		5.90			N/A			N/A
Total weighted-average remaining vesting period in years (1)		4.30			4.57			5.60
Total fair value of options granted	$	4,064,000			N/A			N/A
Stock-based compensation expense — Cost of sales (1)	$	60,000		$	42,000		$	44,000
Stock-based compensation expense — SG&A (1)	$	1,039,000		$	963,000		$	977,000
Income tax benefit (1)	$	(390,000	)	$	(402,000	)	$	(408,000	)


(1)		Information relates to stock options granted since 2006.

At December 31, 2011, the total stock-based compensation expense not yet recognized is $7,931,000 relating to non-vested stock options, which we will be amortizing (subject to adjustments for forfeitures) through the respective remaining vesting periods.

Qualified Stock Option Plans — At December 31, 2011, we have options outstanding under a 1998 Stock Option Plan (“1998 Plan”) and the 2008 Plan as discussed above. The 1998 Plan has expired, and accordingly, no additional options may be granted from these plans. Options granted prior to the expiration of this plan continue to remain valid thereafter in accordance with their terms. The exercise price of the outstanding options granted under the 1998 and 2008 Plans was equal to the market value of our common stock at the date of grant. The following information relates to our qualified stock option plans:


	December 31,
	2011
	2008 Plan		1998 Plan

Maximum number of securities for issuance		1,000,000		N/A
Number of awards available to be granted		344,370		N/A
Number of qualified options outstanding		505,330		11,000
Number of qualified options exercisable		78,065		11,000


	2011
				Weighted-Average
	Shares			Exercise Price
Outstanding at beginning of year		389,026		$	8.41
Granted		249,000		$	34.41
Exercised		(114,996	)	$	6.54
Cancelled, forfeited or expired		(6,700	)	$	9.69

Outstanding at end of year		516,330		$	21.34


Exercisable at end of year		89,065		$	8.85


	2011		2010		2009
Weighted-average fair value per option granted during year	$	16.00		N/A	$	N/A


Total intrinsic value of options exercised during the year	$	3,294,000	$	441,000	$	3,051,000


Total fair value of options vested during the year	$	208,000	$	214,000	$	220,000

The following table summarizes information about qualified stock options outstanding and exercisable at December 31, 2011:

Stock Options Outstanding

Weighted-

Average

Weighted-

Intrinsic

Remaining

Average

Value of

Shares

Contractual Life

Exercise

Shares

Exercise Prices

Outstanding

in Years

Price

Outstanding

$5.10

11,000

3.92

5.10

252,000

$7.86 — $8.17

48,375

6.95

7.87

976,000

$9.69 — $9.97

207,955

6.83

9.69

3,813,000

$29.99 — $34.50

249,000

9.90

34.41

—

$5.10 — $34.50

516,330

8.26

21.34

5,041,000

Stock Options Exercisable

Weighted-

Average

Weighted-

Intrinsic

Remaining

Average

Value of

Shares

Contractual Life

Exercise

Shares

Exercise Prices

Exercisable

in Years

Price

Exercisable

$5.10

11,000

3.92

5.10

252,000

$7.86 — $8.17

13,530

6.94

7.87

273,000

$9.69 — $9.97

64,535

6.83

9.69

1,184,000

$29.99 — $34.50

—

$5.10 — $34.50

89,065

6.49

8.85

1,709,000

Non-Qualified Stock Option Plans — Our board of directors approved the grants of non-qualified stock options to our outside directors, our Chief Financial Officer and certain key employees, including the grant of 450,000 shares of non-qualified stock options (the “2006 Options”) to certain Climate Control Business employees, which were subject to shareholders’ approval. The exercise price of the 2006 Options is $8.01 per share, which is based on the market value of our common stock at the date the board of directors granted the shares (June 19, 2006). The fair value for the 2006 Options was estimated, using an option pricing model, as of the date we received shareholders’ approval, which occurred during our 2007 annual shareholders’ meeting on June 14, 2007. For accounting purposes, the grant date and service inception date is June 14, 2007. Generally, the exercise prices of our non-qualified stock options are based on the market value of our common stock at the dates of grants.

In addition to the 2008 Plan as discussed above, we have an Outside Directors Stock Option Plan (the “Outside Director Plan”). The Outside Director Plan authorizes the grant of non-qualified stock options to each member of our board of directors who is not an officer or employee of LSB or its subsidiaries. The maximum number of options that may be issued under the Outside Director Plan is 400,000 of which 280,000 were available for grant at December 31, 2011. At December 31, 2011, there were 41,525 options outstanding related to the 2008 Plan, of which 16,325 are exercisable, and no options outstanding related to the Outside Director Plan.

The following information relates to our non-qualified stock option plans:


	2011
				Weighted-Average
	Shares			Exercise Price
Outstanding at beginning of year		374,600		$	7.83
Granted		5,000		$	34.50
Exercised		(63,075	)	$	7.05
Surrendered, forfeited, or expired		—

Outstanding at end of year		316,525		$	8.41


Exercisable at end of year		66,325		$	7.97


	2011		2010		2009

Weighted-average fair value per option granted during year	$	16.25		N/A		N/A


Total intrinsic value of options exercised during the year	$	2,110,000	$	805,000	$	2,201,000


Total fair value of options vested during the year	$	730,000	$	721,000	$	721,000

The following tables summarize information about non-qualified stock options outstanding and exercisable at December 31, 2011:

Stock Options Outstanding

Weighted-

Average

Weighted-

Intrinsic

Remaining

Average

Value of

Shares

Contractual Life

Exercise

Shares

Exercise Prices

Outstanding

in Years

Price

Outstanding

$7.86

36,525

6.92

7.86

737,000

$8.01

275,000

4.75

8.01

5,505,000

$34.50

5,000

9.92

34.50

—

$7.86 — $34.50

316,525

5.08

8.41

6,242,000

Stock Options Exercisable

Weighted-

Average

Weighted-

Intrinsic

Remaining

Average

Value of

Shares

Contractual Life

Exercise

Shares

Exercise Prices

Exercisable

in Years

Price

Exercisable

$7.86

16,325

6.92

7.86

329,000

$8.01

50,000

4.75

8.01

1,001,000

$34.50

—

$7.86 — $34.50

66,325

5.28

7.97

1,330,000

Preferred Share Rights Plan — On January 5, 2009, a renewed shareholder rights plan became effective upon the expiration of our previous shareholder rights plan. The rights plan will impact a potential acquirer unless the acquirer negotiates with our board of directors and the board of directors approves the transaction. Pursuant to the renewed plan, one preferred share purchase right (a “Right”) is attached to each currently outstanding or subsequently issued share of our common stock. Prior to becoming exercisable, the Rights trade together with our common stock. In general, if a person or group acquires or announces a tender or exchange offer for 15% or more of our common stock (except for the Golsen Group and certain other limited excluded persons), then the Rights become exercisable. Each Right entitles the holder (other than the person or group that triggers the Rights being exercisable) to purchase from us one one-hundredth of a share of Series 4 Junior Participating Preferred Stock, no par value (the “Preferred Stock”), at an exercise price of $47.75 per one one-hundredth of a share, subject to adjustment. If a person or group acquires 15% or more of our common stock, each Right will entitle the holder (other than the person or group that triggered the Rights being exercisable) to purchase shares of our common stock (or, in certain circumstances, cash or other securities) having a market value of twice the exercise price of a Right at such time. Under certain circumstances, each Right will entitle the holder (other than the person or group that triggered the Rights being exercisable) to purchase the common stock of the acquirer having a market value of twice the exercise price of a Right at such time. In addition, under certain circumstances, our board of directors may exchange each Right (other than those held by the acquirer) for one share of our common stock, subject to adjustment. Our board of directors may redeem the Rights at a price of $0.01 per Right generally at any time before 10 days after the Rights become exercisable. Our board of directors may exchange all or part of the Rights (except to the person or group that triggered the Rights being exercisable) for our common stock at an exchange ratio of one common share per Right until the person triggering the Right becomes the beneficial owner of 50% or more of our common stock.

Other — During 2010 and 2009, we purchased 177,100 and 275,900 shares of treasury stock for the average price of $13.67 and $11.60 per share, respectively (none in 2011).

As of December 31, 2011, we have reserved 1.8 million shares of common stock issuable upon potential conversion of preferred stocks and stock options pursuant to their respective terms.

Non - Redeemable Preferred Stock

12 Months Ended

Dec. 31, 2011

Redeemable/Non-Redeemable Preferred Stock [Abstract]

Non - Redeemable Preferred Stock

14. Non-Redeemable Preferred Stock

Series B Preferred — The 20,000 shares of Series B 12% cumulative, convertible preferred stock (“Series B Preferred”), $100 par value, are convertible, in whole or in part, into 666,666 shares of our common stock (33.3333 shares of common stock for each share of preferred stock) at any time at the option of the holder and entitle the holder to one vote per share. The Series B Preferred provides for annual cumulative dividends of 12% from date of issue, payable when and as declared. All of the outstanding shares of the Series B Preferred are owned by the Golsen Group.

Series D Preferred — The 1,000,000 shares of Series D 6% cumulative, convertible Class C preferred stock (“Series D Preferred”) have no par value and are convertible, in whole or in part, into 250,000 shares of our common stock (1 share of common stock for 4 shares of preferred stock) at any time at the option of the holder. Dividends on the Series D Preferred are cumulative and payable annually in arrears at the rate of 6% per annum of the liquidation preference of $1.00 per share. Each holder of the Series D Preferred shall be entitled to .875 votes per share. All of the outstanding shares of Series D Preferred are owned by the Golsen Group.

Cash Dividends Paid — During 2011, 2010 and 2009, we paid the following cash dividends on our non-redeemable preferred stock in each of the respective year:

•

$240,000 on the Series B Preferred ($12.00 per share) and

•

$60,000 on the Series D Preferred ($0.06 per share).

At December 31, 2011, there were no dividends in arrears.

Other — At December 31, 2011, we are authorized to issue an additional 229,539 shares of $100 par value preferred stock and an additional 4,000,000 shares of no par value preferred stock. Upon issuance, our board of directors will determine the specific terms and conditions of such preferred stock.

Executive Benefit Agreements and Employee Savings Plans

12 Months Ended

Dec. 31, 2011

Executive Benefit Agreements and Employee Savings Plans [Abstract]

Executive Benefit Agreements and Employee Savings Plans

15. Executive Benefit Agreements and Employee Savings Plans

In 1981, we entered into individual death benefit agreements with certain key executives (“1981 Agreements”). Under the 1981 Agreements, should the executive die while employed, we are required to pay the beneficiary named in the agreement in 120 equal monthly installments aggregating to an amount specified in the agreement. The monthly installments specified in the 1981 Agreements total $34,000. The benefits under the 1981 Agreements are forfeited if the respective executive’s employment is terminated for any reason prior to death. The 1981 Agreements may be terminated by the Company at any time and for any reason prior to the death of the employee. See table below for information about the 1981 Agreements.

In 1992, we entered into individual benefit agreements with certain key executives (“1992 Agreements”) that provide for annual benefit payments for life (in addition to salary) ranging from $16,000 to $18,000 payable in monthly installments when the employee reaches age 65. As part of the 1992 Agreements, should the executive die prior to attaining the age of 65, we will pay the beneficiary named in the agreement in 120 equal monthly installments aggregating to an amount specified in the agreement. This amount is in addition to any amount payable under the 1981 Agreement should that executive have both a 1981 and 1992 agreement. The benefits under the 1992 Agreements are forfeited if the respective executive’s employment is terminated prior to age 65 for any reason other than death. The 1992 Agreements may be terminated by the Company at any time and for any reason prior to the death of the employee. See table below for information about the 1992 Agreements.

In 2005, we entered into a death benefit agreement (“2005 Agreement”) with our CEO. The Death Benefit Agreement provides that, upon our CEO’s death, we will pay to our CEO’s designated beneficiary, a lump-sum payment of $2,500,000 to be funded from the net proceeds received by us under certain life insurance policies on our CEO’s life that are owned by us. We are obligated to keep in existence life insurance policies with a total face amount of no less than $2,500,000 of the stated death benefit. The benefit under the 2005 Agreement is not contingent upon continued employment and may be amended at any time by written agreement executed by the CEO and the Company. The following table includes information about the 2005 Agreement.


	December 31,
	2011			2010
	(Dollars In Thousands)
Total undiscounted death benefits - 1981 Agreements	$	4,115		$	4,115

Total undiscounted death benefits — 1992 Agreements	$	302		$	302

Total undiscounted death benefit — 2005 Agreement	$	2,500		$	2,500

Accrued death benefits — All agreements	$	4,017		$	4,058


Total undiscounted executive benefits — 1992 Agreements	$	1,950		$	1,963

Discount rates utilized — 1992 Agreements		3.58	%		4.17	%

Accrued executive benefits — 1992 Agreements	$	1,262		$	1,187


	2011		2010		2009
	(In Thousands)
Costs associated with executive benefits included in SG&A	$	158	$	169	$	75

Accrued death and executive benefits under the above agreements are included in current and noncurrent accrued and other liabilities. We accrue for such liabilities when they become probable and discount the liabilities to their present value.

To assist us in funding the benefit agreements discussed above and for other business reasons, we purchased life insurance policies on various individuals in which we are the beneficiary. Some of these life insurance policies have cash surrender values that we have borrowed against. The net cash surrender values are included in other assets. The following table summarizes certain information about these life insurance policies.


	December 31,
	2011			2010
	(In Thousands)
Total face value of life insurance policies (1)	$	21,522		$	21,522


Cash surrender values of life insurance policies	$	4,961		$	4,461
Loans on cash surrender values		(1,890	)		(1,844	)

Net cash surrender values	$	3,071		$	2,617


	2011			2010			2009
	(In Thousands)
Cost of life insurance premiums	$	851		$	851		$	842
Increases in cash surrender values	$	(499	)	$	(496	)	$	(494	)


Net cost of life insurance premiums included in SG&A	$	352		$	355		$	348


(1)		Includes $7,000,000 on the life of our CEO, of which $2,500,000 is required to be paid under the 2005 Agreement as discussed above.

We sponsor a savings plan under Section 401(k) of the Internal Revenue Code under which participation is available to substantially all full-time employees. We do not presently contribute to this plan except for EDC and Cherokee Nitrogen Company’s (“CNC”) union employees and certain EDN and PCC employees, which amounts were not material for each of the three years ended December 31, 2011.

Business Interruption Insurance Claim and Recovery	12 Months Ended
Business Interruption Insurance Claim and Recovery	Dec. 31, 2011
Business Interruption Insurance Claim and Recovery [Abstract]
Business Interruption Insurance Claim and Recovery	<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --> <!-- Begin Block Tagged Note 16 - lxu:BusinessInterruptionAndPropertyInsuranceClaimsTextBlock--> <div style="font-family: 'Times New Roman',Times,serif; margin-left: 0in; "> <div align="justify" style="font-size: 10pt; margin-top: 10pt"><b>16. Business Interruption Insurance Claim and Recovery</b> </div> <div align="justify" style="font-size: 10pt; margin-top: 10pt">In June 2010, a pipe failure in the primary reformer of the ammonia plant at the Pryor Facility resulted in a fire that damaged the ammonia plant. The fire was immediately extinguished and there were no injuries. As a result of this damage, the Pryor Facility was unable to produce anhydrous ammonia or UAN during substantially all of third quarter of 2010. Our insurance policy provides for business interruption coverage for certain lost profits and extra expense with a 30-day waiting period. Therefore, we filed an insurance claim for business interruption. During 2011, we recognized an insurance recovery of $8,605,000 relating to this business interruption claim, which was recorded as a reduction to cost of sales. As of December 31, 2011, we do not have any remaining insurance claims associated with our business interruption coverage relating to this event. </div> <!-- Folio --> <!-- /Folio --> </div> <!-- PAGEBREAK --> <div style="font-family: 'Times New Roman',Times,serif; margin-left: 0in; "> <div align="center" style="font-size: 10pt; margin-top: 0pt"> </div> <div align="center" style="font-size: 10pt; margin-top: 0pt"> </div> </div>

Other Expense, Other Income and Non-Operating Other Income, Net

12 Months Ended

Dec. 31, 2011

Other Expense, Other Income and Non-Operating Other Income, net [Abstract]

Other Expense, Other Income and Non-Operating Other Income, net

17. Other Expense, Other Income and Non-Operating Other Income, net


	2011			2010			2009
	(In Thousands)
Other expense:
Realized and unrealized losses on contractual obligations associated with carbon credits	$	1,844		$	644		$	—
Losses on sales and disposals of property and equipment		1,280			460			378
Miscellaneous expense (1)		699			158			149

Total other expense	$	3,823		$	1,262		$	527


Other income:
Realized and unrealized gains on carbon credits	$	1,995		$	644		$	—
Settlements of litigation and potential litigation (2)		1,562			—			50
Property insurance recoveries in excess of losses incurred (3)		—			7,518			—
Miscellaneous income (1)		381			265			237

Total other income	$	3,938		$	8,427		$	287


Non-operating other income, net:
Interest income	$	77		$	133		$	216
Miscellaneous income (1)		—			—			1
Miscellaneous expense (1)		(77	)		(80	)		(87	)

Total non-operating other income, net	$	—		$	53		$	130


(1)		Amounts represent numerous unrelated transactions, none of which are individually significant requiring separate disclosure.

(2)		Amounts relate primarily to settlements reached with certain vendors of our Chemical Business.

(3)		Amount relates primarily to recoveries from property insurance claims associated with our Chemical Business.

Segment Information

12 Months Ended

Dec. 31, 2011

Segment Information [Abstract]

Segment Information

18. Segment Information

Factors Used by Management to Identify the Enterprise’s Reportable Segments and Measurement of Segment Income or Loss and Segment Assets

We have two reportable segments (business segments): the Climate Control Business and the Chemical Business. Our reportable segments are based on business units that offer similar products and services. The reportable segments are each managed separately because they manufacture and distribute distinct products with different production processes.

We evaluate performance and allocate resources based on operating income or loss. The accounting policies of the reportable segments are the same as those described in the summary of significant accounting policies.

Description of Each Reportable Segment

Climate Control Business — The Climate Control Business segment manufactures and sells the following variety of heating, ventilation, and air conditioning (“HVAC”) products:

•

geothermal and water source heat pumps,

•

hydronic fan coils, and

•

other HVAC products including large custom air handlers, modular geothermal and other chillers and other products and services.

These HVAC products are primarily for use in commercial/institutional and residential new building construction, renovation of existing buildings and replacement of existing systems. Our various facilities located in Oklahoma City comprise substantially all of the Climate Control segment’s operations. Sales to customers of this segment primarily include original equipment manufacturers, contractors and independent sales representatives located throughout the world.

Chemical Business — The Chemical Business segment manufactures and sells:

•

anhydrous ammonia, fertilizer grade AN, UAN, and ammonium nitrate ammonia solution for agricultural applications,

•

high purity and commercial grade anhydrous ammonia, high purity AN, sulfuric acids, concentrated, blended and regular nitric acid, mixed nitrating acids, and diesel exhaust fluid for industrial applications, and

•

industrial grade AN and solutions for the mining industry.

Our chemical production facilities are located in El Dorado, Arkansas; Cherokee, Alabama; Pryor, Oklahoma; and Baytown, Texas. Sales to customers of this segment primarily include farmers, ranchers, fertilizer dealers and distributors primarily in the ranch land and grain production markets in the United States; industrial users of acids throughout the United States and parts of Canada; and explosive manufacturers in the United States.

The Pryor Facility began limited production in the first quarter of 2010 but did not reach sustained production of anhydrous ammonia until the fourth quarter of 2010. Currently, this facility’s production is predominantly agricultural products, primarily UAN and anhydrous ammonia. During 2011, the Pryor Facility had net sales of approximately $91.9 million to unrelated third parties compared to $25.0 million in 2010 (none in 2009).

As of December 31, 2011, our Chemical Business employed 492 persons, with 149 represented by unions under agreements, which will expire in July through November of 2013.

Other — The business operation classified as “Other” primarily sells industrial machinery and related components to machine tool dealers and end users located primarily in North America.

Segment Financial Information

Information about our continuing operations in different business segments is detailed below.


	2011			2010			2009
	(In Thousands)
Net sales:
Climate Control:
Geothermal and water source heat pumps	$	183,789		$	171,561		$	179,865
Hydronic fan coils		54,379			37,923			46,381
Other HVAC products		43,397			41,037			39,923

Total Climate Control		281,565			250,521			266,169

Chemical:
Agricultural products		231,599			135,598			104,300
Industrial acids and other chemical products		161,776			126,846			95,997
Mining products		118,479			88,642			57,535

Total Chemical		511,854			351,086			257,832
Other		11,837			8,298			7,837

	$	805,256		$	609,905		$	531,838


Gross profit:
Climate Control	$	88,178		$	86,364		$	92,409
Chemical		130,687			49,295			42,422
Other		4,153			2,966			2,583

	$	223,018		$	138,625		$	137,414


Operating income:
Climate Control	$	32,759		$	35,338		$	37,706
Chemical		116,503			31,948			15,122
General corporate expenses and other business operations, net (1)		(12,819	)		(11,361	)		(12,118	)

		136,443			55,925			40,710
Interest expense		(6,658	)		(7,427	)		(6,746	)
Gain (losses) on extinguishment of debt		(136	)		(52	)		1,783
Non-operating income (expense), net:
Climate Control		2			3			8
Chemical		1			7			31
Corporate and other business operations		(3	)		43			91
Provisions for income taxes		(46,208	)		(19,787	)		(15,024	)

Equity in earnings of affiliate — Climate Control		543			1,003			996

Income from continuing operations	$	83,984		$	29,715		$	21,849

(1) General corporate expenses and other business operations, net consist of the following:


	2011			2010			2009
	(In Thousands)
Gross profit-Other	$	4,153		$	2,966		$	2,583
Selling, general and administrative:
Personnel costs		(8,418	)		(7,865	)		(8,083	)
Professional fees		(3,805	)		(3,784	)		(3,687	)
All other		(4,224	)		(3,040	)		(2,917	)

Total selling, general and administrative		(16,447	)		(14,689	)		(14,687	)

Other income		118			366			192
Other expense		(643	)		(4	)		(206	)

Total general corporate expenses and other business operations, net	$	(12,819	)	$	(11,361	)	$	(12,118	)

Information about our PP&E and total assets by business segment is detailed below:


	2011		2010		2009
	(In Thousands)
Depreciation of PP&E:
Climate Control	$	3,853	$	4,026	$	4,077
Chemical		14,659		13,154		11,291
Corporate assets and other		250		149		233

Total depreciation of PP&E	$	18,762	$	17,329	$	15,601


Additions to PP&E:
Climate Control	$	5,746	$	7,177	$	6,438
Chemical		39,835		28,850		24,627
Corporate assets and other		2,376		518		271

Total additions to PP&E	$	47,957	$	36,545	$	31,336


Total assets at December 31:
Climate Control	$	119,323	$	112,894	$	102,029
Chemical		214,246		179,033		143,800
Corporate assets and other		168,440		96,054		92,804

Total assets	$	502,009	$	387,981	$	338,633

Net sales by business segment include net sales to unaffiliated customers as reported in the consolidated financial statements. Net sales classified as “Other” consist of sales of industrial machinery and related components. Intersegment net sales are not significant.

Gross profit by business segment represents net sales less cost of sales. Gross profit classified as “Other” relates to the sales of industrial machinery and related components.

Our chief operating decision makers use operating income by business segment for purposes of making decisions that include resource allocations and performance evaluations. Operating income by business segment represents gross profit by business segment less SG&A incurred by each business segment plus other income and other expense earned/incurred by each business segment before general corporate expenses and other business operations, net. General corporate expenses and other business operations, net consist of unallocated portions of gross profit, SG&A, other income and other expense.

Identifiable assets by business segment are those assets used in the operations of each business. Corporate assets and other are those principally owned by LSB or by subsidiaries not involved in the two identified businesses.

All net sales and long-lived assets relate to domestic operations for the periods presented.

Net sales to unaffiliated customers are to U.S. customers except foreign export sales as follows:


Geographic Area	2011		2010		2009
	(In Thousands)
Canada	$	23,765	$	19,345	$	20,224
Middle East		5,688		6,257		4,440
Mexico, Central and South America		2,452		1,411		2,154
Europe		2,015		2,373		1,114
South and East Asia		1,077		1,635		1,124
Other		1,218		835		843

	$	36,215	$	31,856	$	29,899

In general, foreign export sales are attributed based upon the location of the customer.

Major Customer

Net sales to one customer, Orica, of our Chemical Business segment represented approximately 11%, 11% and 7% of our total net sales for 2011, 2010 and 2009, respectively. See discussion concerning the supply agreement in Note 11 — Commitments and Contingencies.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 131
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 35
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 29
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 33
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 26
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599

Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599

+ Details

Related Party Transactions	12 Months Ended
Related Party Transactions	Dec. 31, 2011
Related Party Transactions [Abstract]
Related Party Transactions	19. Related Party Transactions Golsen Group In January 2009, we paid interest of $137,500 relating to $5,000,000 of the 2007 Debentures held by the Golsen Group that was accrued at December 31, 2008. In March 2009, we paid dividends totaling $300,000 on our Series B Preferred and our Series D Preferred. During 2009, we incurred interest expense of $275,000 relating to the debentures held by the Golsen Group, of which $137,500 was accrued at December 31, 2009 and paid in January 2010. In March 2010, we paid dividends totaling $300,000 on our Series B Preferred and our Series D Preferred. During 2010, we incurred interest expense of $275,000 relating to the debentures held by the Golsen Group, of which $137,500 was accrued at December 31, 2010 and paid in January 2011. In March 2011, we paid dividends totaling $300,000 on our Series B Preferred and our Series D Preferred. In March 2011, the Golsen Group sold $3,000,000 of the 2007 Debentures it held to a third party. In July 2011, the Golsen Group converted $2,000,000 of the 2007 Debentures into 72,800 shares of LSB common stock in accordance with the terms of the 2007 Debentures. During 2011, we incurred interest expense of $60,500 relating to the $2,000,000 of the 2007 Debentures that was held by the Golsen Group, of which $55,000 was paid in June 2011 and the remaining amount was forfeited and credited to capital in excess of par value as the result of the conversion. In addition in July 2011, the Golsen Group converted an $8,000 convertible promissory note into 4,000 shares of LSB common stock in accordance with the terms of such note. The Series B Preferred and Series D Preferred are non-redeemable preferred stocks issued in 1986 and 2001, respectively, of which all outstanding shares are owned by the Golsen Group. Landmark Transactions As approved by a special committee of our board of directors, in May 2011, Prime Financial L.L.C. (“Prime”), a subsidiary of LSB, entered into an agreement (the “First Purchase Agreement”) to purchase from Landmark Land Company, Inc. (“Landmark”) certain undeveloped real estate located in Oklahoma City, Oklahoma (the “Oklahoma Real Estate”) for the purchase price of $2,250,000, which transaction was consummated in June 2011. The First Purchase Agreement grants Prime put options to sell the Oklahoma Real Estate to Landmark or to Gerald G. Barton (“Barton”), who is the chief executive officer and a substantial stockholder of Landmark. The put option may be exercised during the sixth year following Prime’s purchase of the Oklahoma Real Estate. If a put option is exercised, the purchase price for the Oklahoma Real Estate will be $2,250,000, plus a premium equal to a simple 10% annual return on the purchase price beginning as of the closing of the First Purchase Agreement, subject to certain adjustments. For financial reporting purposes, no value from the purchase price was allocated to the put options because the appraised value of the Oklahoma Real Estate exceeded the purchase price. Also approved by a special committee of our board of directors, in September 2011, Prime entered into an agreement (the “Second Purchase Agreement”) to purchase from Landmark certain undeveloped real estate located in Laguna Vista, Texas (the “Texas Real Estate”) for the purchase price of $2,500,000 (see Note 20 — Subsequent Events). The Second Purchase Agreement grants Prime put options to sell the Texas Real Estate to Landmark or to Barton. The put option may be exercised during the sixth year following Prime’s purchase of the Texas Real Estate. If a put option is exercised, the purchase price for the Texas Real Estate will be $2,500,000, plus a premium equal to a simple 10% annual return on the purchase price beginning as of the closing of the Second Purchase Agreement, subject to certain adjustments. The Second Purchase Agreement also grants Prime warrants to purchase up to 1,000,000 shares of Landmark’s common stock, at $1.00 per share. The right of Prime to acquire Landmark shares under any unexercised warrants shall terminate on the completed exercise of the put options. Landmark has also agreed to enter into a separate agreement at the closing of the Second Purchase Agreement to use its reasonable efforts to use, where technically feasible, geothermal heating and air conditioning units manufactured by one of the LSB’s subsidiaries on other Landmark properties in the development where the Texas Real Estate is located. Jack E. Golsen (“Golsen”), our chairman of the board of directors and chief executive officer and another individual previously formed a limited liability company (“LLC”), and each contributed $1,000,000 to the LLC. The LLC subsequently loaned Landmark approximately $2,000,000. In March 2011, Golsen sold his membership interest in the LLC to Barton in consideration for a promissory note in the principal amount of approximately $1,100,000, representing the amount that Golsen had invested in the LLC, plus interest (the “Barton Note”). The Barton Note was due and payable in June 2011. Pursuant to the terms of the First and Second Purchase Agreements, until the expiration of the put options, no payment will be made on the Barton Note and payment of the amounts owing under the Barton Note will be subordinate to any amounts owing Prime upon the exercise of a put option. Further, Golsen has agreed under the Second Purchase Agreement that no portion of the purchase price shall be used by Landmark to repay any indebtedness owing to Golsen. In addition, Bernard Ille, one of our directors, served as a director of Landmark for many years until he resigned in March 2011. In light of the Barton Note and Mr. Ille’s past relationship with Landmark, our board of directors appointed a special committee for the purpose of reviewing and determining whether the LSB should purchase the Oklahoma and Texas Real Estate. The special committee believed, based on an analysis of a real estate consultant, that the price that we were to pay for the properties approximated the market value, and also believed that these properties, when developed, have the potential to establish a model geothermal community.

- Definition

The entire disclosure for related party transactions, including the nature of the relationship(s), a description of the transactions, the amount of the transactions, the effects of any change in the method of establishing the terms of the transaction from the previous period, stated interest rate, expiration date, terms and manner of settlement per the agreement with the related party, and amounts due to or from related parties. If the entity and one or more other entities are under common ownership or management control and this control affects the operating results or financial position, disclosure includes the nature of the control relationship even if there are no transactions between the entities. Disclosure may also include the aggregate amount of current and deferred tax expense for each statement of earnings presented where the entity is a member of a group that files a consolidated tax return, the amount of any tax related balances due to or from affiliates as of the date of each statement of financial position presented, the principal provisions of the method by which the consolidated amount of current and deferred tax expense is allocated to the members of the group and the nature and effect of any changes in that method. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Article 4
-Section 08
-Paragraph k

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Article 3A
-Section 04
-Paragraph b

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 57
-Paragraph 1-4
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 850
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39622-107864

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 850
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 850
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39603-107864

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(k))
-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 850
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39691-107864

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 850
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39678-107864

+ Details

Subsequent Events (Unaudited)

12 Months Ended

Dec. 31, 2011

Subsequent Event (Unaudited) [Abstract]

Subsequent Event (Unaudited)

20. Subsequent Events (Unaudited)

Dividends Declared on Preferred Stock — In January 2012, our board of directors declared dividends $300,000 on our Series B Preferred and our Series D Preferred, payable on March 31, 2012. The Series B Preferred and Series D Preferred are non-redeemable preferred stocks issued in 1986 and 2001, respectively, of which all outstanding shares are owned by the Golsen Group.

Planned Improvement Project — From January 3, 2012 through February 3, 2012, a planned improvement project was performed at the Pryor Facility to increase anhydrous ammonia production levels. As a result, the facility was not in production during this time. The permitted production level of ammonia at the facility is 700 tons per day (“TPD”), but due to production limitations caused by restrictions in the flow of process gas through heat exchangers and other mechanical restrictions, the ammonia plant was unable to sustain production above 500 TPD during 2011. The current production rate is approximately 600 TPD.

Landmark Transaction — Effective February 7, 2012, the transaction relating to the Second Purchase Agreement to purchase the Texas Real Estate, as discussed in Note 19 — Related Party Transactions, was consummated on terms substantially as originally agreed, including Landmark to use its reasonable efforts to use, where technically feasible, geothermal heating and air conditioning units manufactured by one of the LSB’s subsidiaries on other Landmark properties in the development where the Texas Real Estate is located.


	Three months ended
	March 31			June 30			September 30			December 31
2011
Net sales	$	177,493		$	235,619		$	176,780		$	215,364

Gross profit (1)	$	53,854		$	72,086		$	34,257		$	62,821

Income from continuing operations (1) (2)	$	20,960		$	28,698		$	6,324		$	28,002
Net loss from discontinued operations		(57	)		(53	)		(18	)		(14	)

Net income	$	20,903		$	28,645		$	6,306		$	27,988

Net income applicable to common stock	$	20,598		$	28,645		$	6,306		$	27,988


Income per common share:
Basic:
Income from continuing operations	$	.97		$	1.29		$	.28		$	1.26
Loss from discontinued operations, net		—			—			—			—

Net income	$	.97		$	1.29		$	.28		$	1.26


Diluted:
Income from continuing operations	$	.90		$	1.22		$	.27		$	1.19
Loss from discontinued operations, net		—			—			—			—

Net income	$	.90		$	1.22		$	.27		$	1.19


2010

Net sales	$	130,410		$	168,392		$	138,948		$	172,155

Gross profit (1)	$	28,266		$	35,148		$	29,439		$	45,772

Income from continuing operations (1) (2)	$	1,723		$	6,047		$	3,877		$	18,068
Net loss from discontinued operations		(5	)		(38	)		(79	)		(19	)

Net income	$	1,718		$	6,009		$	3,798		$	18,049

Net income applicable to common stock	$	1,413		$	6,009		$	3,798		$	18,049


Income per common share:
Basic:
Income from continuing operations	$	.07		$	.28		$	.18		$	.85
Loss from discontinued operations, net		—			—			—			—

Net income	$	.07		$	.28		$	.18		$	.85


Diluted:
Income from continuing operations	$	.07		$	.27		$	.17		$	.79
Loss from discontinued operations, net		—			—			—			—

Net income	$	.07		$	.27		$	.17		$	.79

(1) The following items increased (decreased) gross profit and income from continuing operations:


	Three months ended
	March 31			June 30			September 30			December 31
	(In Thousands)

Turnaround costs (A):
2011	$	(166	)	$	(1,543	)	$	(6,332	)	$	(1,033	)

2010	$	(1,432	)	$	(1,264	)	$	(3,950	)	$	(1,821	)


Business interruption insurance recovery:
2011	$	—		$	8,605		$	—		$	—

(2) The following items increased (decreased) income from continuing operations:


	Three months ended
	March 31			June 30			September 30			December 31
	(In Thousands)

Operating income (loss) associated with the Pryor Facility:
2011 (B)	$	11,257		$	23,043		$	682		$	17,008

2010 (B)	$	(6,037	)	$	(1,993	)	$	(3,128	)	$	11,432


Provisions for income taxes:
2011	$	(11,657	)	$	(17,492	)	$	(4,433	)	$	(12,626	)

2010 (C)	$	(912	)	$	(4,979	)	$	(2,930	)	$	(10,966	)

(A) Turnaround costs do not include the costs relating to lost absorption or reduced margins due to the associated plants being shut down.

(B) Includes business interruption insurance recovery of $8,605,000 recognized during the three months ended June 30, 2011 and property insurance recoveries of $2,769,000 and $2,955,000 recognized during the three months ended September 30, 2010 and December 30, 2010, respectively.

(C) During June 2010, we determined that certain nondeductible expenses had not been properly identified relating to the 2007-2009 provisions for income taxes. As a result, we recorded an additional income tax provision of approximately $800,000 for the three months ended June 30, 2010. For the three months ended June 30, 2010 and the year ended December 31, 2010, the effect of this adjustment decreased basic net income per share by $.04 and diluted net income per share by $.03. Management of the Company evaluated the impact of this accounting error and concluded the effect of this adjustment was immaterial to our 2007-2010 consolidated financial statements.

Condensed Financial Information of Registrant

12 Months Ended

Dec. 31, 2011

Condensed Financial Information of Registrant [Abstract]

Condensed Financial Information of Registrant

Schedule I — Condensed Financial Information of Registrant

Condensed Balance Sheets

Schedule I includes the condensed financial statements of the parent company only, LSB Industries, Inc.


	December 31,
	2011		2010
	(In Thousands)
Assets
Current assets:
Cash and cash equivalents	$	35,302	$	7,491
Accounts receivable, net		15		12
Supplies, prepaid items and other		5,833		275
Due from subsidiaries		28,785		5,174
Notes receivable from a subsidiary		10,000		10,000

Total current assets		79,935		22,952

Property, plant and equipment, net		229		274
Investments in and due from subsidiaries		290,303		222,615
Other assets, net		2,253		2,445

	$	372,720	$	248,286


Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable	$	291	$	275
Short-term financing		5,646		—
Accrued and other liabilities		1,036		1,038
Redeemable, noncumulative, convertible preferred stock		44		45
Current portion of long-term debt		—		8

Total current liabilities		7,017		1,366

Long-term debt		—		26,900
Due to subsidiaries		56,243		24,536
Noncurrent accrued and other liabilities		5,349		5,273

Stockholders’ equity:
Preferred stock		3,000		3,000
Common stock		2,664		2,548
Capital in excess of par value		162,092		131,845
Retained earnings		153,888		70,351

		321,644		207,744
Less treasury stock		17,533		17,533

Total stockholders’ equity		304,111		190,211

	$	372,720	$	248,286

See accompanying notes.

Condensed Statements of Income


	Year ended December 31,
	2011			2010			2009
	(In Thousands)
Fees under service, tax sharing and management agreements with subsidiaries	$	5,406		$	3,531		$	3,531

Selling, general and administrative expense		5,661			5,388			5,321
Other expense (income), net		453			(25	)		82


Operating loss		(708	)		(1,832	)		(1,872	)

Interest expense		1,730			3,062			3,513
Loss (gain) on extinguishment of debt		—			52			(1,783	)
Interest and other non-operating income, net		(1,264	)		(973	)		(2,328	)


Loss from continuing operations		(1,174	)		(3,973	)		(1,274	)

Equity in earnings of subsidiaries		85,158			33,688			23,123
Net loss from discontinued operations		(142	)		(141	)		(265	)


Net income	$	83,842		$	29,574		$	21,584

See accompanying notes.

Condensed Statements of Cash Flows


	Year ended December 31,
	2011			2010			2009
	(In Thousands)
Net cash flows used by operating activities	$	(5,558	)	$	(3,074	)	$	(4,899	)

Cash flows from investing activities:
Capital expenditures		—			(51	)		(99	)
Payments received on notes receivable from a subsidiary		—			—			21,400
Other assets		(283	)		(439	)		(283	)

Net cash provided (used) by investing activities		(283	)		(490	)		21,018

Cash flows from financing activities:
Proceeds from short-term financing		6,775			—			—
Payments on short-term financing		(1,129	)		—			—
Payments associated with induced conversion of 5.5% convertible debentures		(558	)		—			—
Acquisition of 5.5% convertible debentures		—			(2,494	)		(8,938	)
Payments on other long-term debt		—			—			(1	)
Payments on loans secured by cash value of life insurance policies		—			(380	)		—
Net change in due to/from subsidiaries		26,512			(7,430	)		(7,738	)
Purchases of treasury stock		—			(2,421	)		(3,200	)
Proceeds from exercise of stock options		1,197			829			609
Excess income tax benefit associated with stock-based compensation		1,160			185			806
Dividends paid on preferred stocks		(305	)		(305	)		(306	)

Net cash provided (used) by financing activities		33,652			(12,016	)		(18,768	)

Net increase (decrease) in cash and cash equivalents		27,811			(15,580	)		(2,649	)

Cash and cash equivalents at the beginning of year		7,491			23,071			25,720


Cash and cash equivalents at the end of year	$	35,302		$	7,491		$	23,071

See accompanying notes.

Notes to Condensed Financial Statements

1. Basis of Presentation — The accompanying condensed financial statements of the parent company include the accounts of LSB Industries, Inc. (“LSB”) only. LSB’s investments in subsidiaries are stated at cost plus equity in undistributed earnings (losses) of subsidiaries since date of acquisition. These condensed financial statements should be read in conjunction with LSB’s consolidated financial statements.

2. Commitments and Contingencies — LSB has guaranteed the payment of principal and interest under the terms of various debt agreements of its subsidiaries. Subsidiaries’ long-term debt outstanding at December 31, 2011, which is guaranteed by LSB, is as follows (in thousands):


Secured Term Loan	$	72,188
Other, most of which is collateralized by real estate		6,585

	$	78,773

In addition, LSB has guaranteed approximately $44.3 million of its subsidiaries’ credit terms with vendors (primarily relating to purchases of natural gas) and approximately $12.2 million of its subsidiaries’ insurance bonds.

See Notes 9 and 11 of the notes to LSB’s consolidated financial statements for discussion of the long-term debt and commitments and contingencies.

3. Preferred Stock and Stockholders’ Equity — At December 31, 2011 and 2010, a subsidiary of LSB owns 2,451,527 shares of LSB’s common stock, which shares have been considered as issued and outstanding in the accompanying Condensed Balance Sheets included in this Schedule I — Condensed Financial Information of Registrant. See Notes 13 and 14 of the notes to LSB’s consolidated financial statements for discussion of matters relating to preferred stock and other stockholders’ equity matters.

4. Extinguishment of Debt — In previous years, LSB acquired a certain portion of the 2007 Debentures, with each purchase being negotiated. During 2011, the remaining 2007 Debentures were converted into shares of LSB common stock including the portion of 2007 debentures held by the Golsen Group as discussed in Note 9 of the notes to LSB’s consolidated financial statements. In addition for financial reporting purposes, one of the conversion transactions with an unrelated third party was considered an induced conversion. The following is a summary of transactions relating to the 2007 Debentures for each respective year:


	2011		2010		2009
	(Dollars In Thousands)
Principal amounts converted or acquired	$	26,900	$	2,500	$	11,100
Cash paid for acquisitions	$	—	$	2,494	$	8,938
Shares of LSB common stock issued		979,160		—		—

5. Interest Expense and Income — During 2011, 2010 and 2009, LSB incurred interest expense from subsidiaries of $1,200,000, $1,173,000 and $1,271,000, respectively. During 2011, 2010, and 2009, LSB earned interest income from subsidiaries of $1,262,000, $956,000 and $2,317,000, respectively.

- Definition

The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document.

+ References + Details

Valuation and Qualifying Accounts

12 Months Ended

Dec. 31, 2011

Valuation and Qualifying Accounts [Abstract]

Valuation and Qualifying Accounts

Schedule II — Valuation and Qualifying Accounts

Years ended December 31, 2011, 2010, and 2009

(In Thousands)


			Additions-
	Balance at		Charges to		Deductions-		Balance at
	Beginning of		Costs and		Write-offs/		End of
Description	Year		Expenses		Costs Incurred		Year
Accounts receivable — allowance for doubtful accounts (1):
2011	$	636	$	347	$	28	$	955

2010	$	676	$	145	$	185	$	636

2009	$	729	$	90	$	143	$	676

Inventory-reserve for slow-moving items (1):
2011	$	1,616	$	751	$	600	$	1,767

2010	$	1,198	$	485	$	67	$	1,616

2009	$	514	$	745	$	61	$	1,198

Notes receivable — allowance for doubtful accounts (1):
2011	$	970	$	—	$	—	$	970

2010	$	970	$	—	$	—	$	970

2009	$	970	$	—	$	—	$	970

Deferred tax assets — valuation allowance (1):
2011	$	310	$	34	$	—	$	344

2010	$	358	$	—	$	48	$	310

2009	$	268	$	90	$	—	$	358


(1)		Deducted in the consolidated balance sheet from the related assets to which the reserve applies.

Other valuation and qualifying accounts are detailed in our notes to consolidated financial statements.

Summary of Significant Accounting Policies (Policies)	12 Months Ended
Summary of Significant Accounting Policies (Policies)	Dec. 31, 2011
Summary of Significant Accounting Policies [Abstract]
Basis of Consolidation	Basis of Consolidation — LSB Industries, Inc. (“LSB”) and its subsidiaries (the “Company”, “We”, “Us”, or “Our”) are consolidated in the accompanying consolidated financial statements. We are involved in manufacturing and marketing operations. We are primarily engaged in the manufacture and sale of geothermal and water source heat pumps and air handling products (the “Climate Control Business”) and the manufacture and sale of chemical products (the “Chemical Business”). LSB is a holding company with no significant operations or assets other than cash, cash equivalents, and investments in its subsidiaries. Entities that are 20% to 50% owned and for which we have significant influence are accounted for on the equity method. All material intercompany accounts and transactions have been eliminated.
Use of Estimates	Use of Estimates — The preparation of consolidated financial statements in conformity with United States generally accepted accounting principles (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Cash and Cash Equivalents	Cash and Cash Equivalents — Investments, which consist of highly liquid investments with original maturities of three months or less, are considered cash equivalents.
Restricted Cash	Restricted Cash — Restricted cash consists of cash balances that are legally restricted or designated by us for specific purposes.
Short-Term Investments	Short-Term Investments — Investments, which consisted of certificates of deposit with an original maturity of 13 weeks, are considered short-term investments. These investments are carried at cost which approximates fair value. All of these investments were held by financial institutions within the United States (“U.S.”) and none of these investments were in excess of the federally insured limits.
Accounts Receivable	Accounts Receivable - Our accounts receivable are stated at net realizable value. This value includes an appropriate allowance for estimated uncollectible accounts to reflect any loss anticipated on accounts receivable balances. Our estimate is based on historical experience and periodic assessment of outstanding accounts receivable, particularly those accounts that are past due (based upon the terms of the sale). Our periodic assessment of our accounts receivable is based on our best estimate of amounts that are not recoverable.
Inventories	Inventories — Inventories are stated at the lower of cost (determined using the first-in, first-out (“FIFO”) basis) or market (net realizable value). Finished goods and work-in-process inventories include material, labor, and manufacturing overhead costs. Additionally, we review inventories and record inventory reserves for slow-moving inventory items.
Precious Metals	Precious Metals — Precious metals are used as a catalyst in the Chemical Business manufacturing process. Precious metals are carried at cost, with cost being determined using the FIFO basis. Because some of the catalyst consumed in the production process cannot be readily recovered and the amount and timing of recoveries are not predictable, we follow the practice of expensing precious metals as they are consumed. Occasionally, during major maintenance or capital projects, we may be able to perform procedures to recover precious metals (previously expensed) which have accumulated over time within the manufacturing equipment. Recoveries of precious metals are recognized at historical FIFO costs. When we accumulate precious metals in excess of our production requirements, we may sell a portion of the excess metals.
Property, Plant and Equipment	Property, Plant and Equipment — Property, plant and equipment (“PP&E”) are stated at cost, net of accumulated depreciation and amortization. Leases meeting capital lease criteria are capitalized in PP&E. Major renewals and improvements that increase the life, value, or productive capacity of assets are capitalized in PP&E while maintenance, repairs and minor renewals are expensed as incurred. In addition, maintenance, repairs and minor renewal costs relating to planned major maintenance activities (“Turnarounds”) in our Chemical Business are expensed as they are incurred. Fully depreciated assets are retained in PP&E and accumulated depreciation and amortization accounts until disposal. When PP&E are retired, sold, or otherwise disposed, the asset’s carrying amount and related accumulated depreciation and amortization are removed from the accounts and any gain or loss is included in other income or expense. For financial reporting purposes, depreciation is primarily computed using the straight-line method over the estimated useful lives of the assets. No provision for depreciation is made on construction in progress or capital spare parts until such time as the relevant assets are put into service. Amortization of assets under capital leases is included in depreciation expense.
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets — Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset (asset group) may not be recoverable. An impairment loss would be recognized when the carrying amount of an asset (asset group) exceeds the estimated undiscounted future cash flows expected to result from the use of the asset (asset group) and its eventual disposition. If assets to be held and used are considered to be impaired, the impairment to be recognized is the amount by which the carrying amounts of the assets exceed the fair values of the assets as measured by the present value of future net cash flows expected to be generated by the assets or their appraised value. In general, assets held for sale are reported at the lower of the carrying amounts of the assets or fair values less costs to sell. At December 31, 2011 and 2010, we had no long-lived assets classified as assets held for sale.
Debt Issuance Costs	Debt Issuance Costs — Debt issuance costs are amortized over the term of the associated debt instrument. In general, if debt is extinguished prior to maturity, the associated debt issuance costs, if any, are written off and included in the gain or loss on extinguishment of debt.
Goodwill	Goodwill — Goodwill is reviewed for impairment at least annually. An impairment loss generally would be recognized when the carrying amount of the reporting unit’s net assets exceeds the estimated fair value of the reporting unit. Reporting units are one level below the business segment level. No impairments of goodwill were incurred in 2011, 2010 or 2009. Goodwill relates to business acquisitions in prior periods in the following business segments:
Accrued Insurance Liabilities	Accrued Insurance Liabilities — We are self-insured up to certain limits for group health, workers’ compensation and general liability claims. Above these limits, we have commercial stop-loss insurance coverage for our contractual exposure on group health claims and statutory limits under workers’ compensation obligations. We also carry umbrella insurance of $100 million for most general liability and auto liability risks. We have a separate $30 million insurance policy covering pollution liability at our Chemical Business facilities. Additional pollution liability coverage for our other facilities is provided in our general liability and umbrella policies. Our accrued insurance liabilities are based on estimates of claims, which include the reported incurred claims amounts plus the reserves established by our insurance adjustors and/or estimates provided by attorneys handling the claims, if any. In addition, our accrued insurance liabilities include estimates of incurred, but not reported, claims based on historical claims experience. The determination of such claims and the appropriateness of the related liability is periodically reviewed and revised, if needed. Changes in these estimated liabilities are charged to operations. Potential legal fees and other directly related costs associated with insurance claims are not accrued but rather are expensed as incurred. Accrued insurance liabilities are included in accrued and other liabilities. It is reasonably possible that the actual development of claims could be different than our estimates.
Product Warranty	Product Warranty — Our Climate Control Business sells equipment that has an expected life, under normal circumstances and use, which extends over several years. As such, we provide warranties after equipment shipment/start up covering defects in materials and workmanship. Our accounting policy and methodology for warranty arrangements is to measure and recognize the expense and liability for such warranty obligations at the time of sale using a percentage of sales and cost per unit of equipment, based upon our historical and estimated future warranty costs. We also recognize the additional warranty expense and liability to cover atypical costs associated with a specific product, or component thereof, or project installation, when such costs are probable and reasonably estimable. It is reasonably possible that our estimated accrued warranty costs could change in the near term.
Executive Benefit Agreements	Executive Benefit Agreements — We have entered into benefit agreements with certain key executives. Costs associated with these individual benefit agreements are accrued based on the estimated remaining service period when such benefits become probable they will be paid. Total costs accrued equal the present value of specified payments to be made after benefits become payable.
Income Taxes	Income Taxes — We recognize deferred tax assets and liabilities for the expected future tax consequences attributable to tax net operating loss (“NOL”) carryforwards, tax credit carryforwards, and differences between the financial statement carrying amounts and the tax basis of our assets and liabilities. We establish valuation allowances if we believe it is more-likely-than-not that some or all of deferred tax assets will not be realized. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. In addition, we do not recognize a tax benefit unless we conclude that it is more-likely-than-not that the benefit will be sustained on audit by the taxing authority based solely on the technical merits of the associated tax position. If the recognition threshold is met, we recognize a tax benefit measured at the largest amount of the tax benefit that, in our judgment, is greater than 50% likely to be realized. We also record interest related to unrecognized tax positions in interest expense and penalties in operating other expense. We reduce income tax expense for investment tax credits in the year the credit arises and is earned. Income tax benefits associated with amounts that are deductible for income tax purposes but that do not affect earnings are credited to equity. These benefits are principally generated from exercises of non-qualified stock options.
Contingencies	Contingencies — Certain conditions may exist which may result in a loss, but which will only be resolved when future events occur. We and our legal counsel assess such contingent liabilities, and such assessment inherently involves an exercise of judgment. If the assessment of a contingency indicates that it is probable that a loss has been incurred, we would accrue for such contingent losses when such losses can be reasonably estimated. If the assessment indicates that a potentially material loss contingency is not probable but reasonably possible, or is probable but cannot be estimated, the nature of the contingent liability, together with an estimate of the range of possible loss if determinable and material, would be disclosed. Estimates of potential legal fees and other directly related costs associated with contingencies are not accrued but rather are expensed as incurred. Loss contingency liabilities are included in current and noncurrent accrued and other liabilities and are based on current estimates that may be revised in the near term. In addition, we recognize contingent gains when such gains are realized or realizable and earned.
Asset Retirement Obligations	Asset Retirement Obligations — We are obligated to monitor certain discharge water outlets at our Chemical Business facilities should we discontinue the operations of a facility. We are also contractually obligated through at least December 2053 to pay a portion of the operating costs of a municipally owned wastewater pipeline currently being constructed, which will serve our chemical production facility located in El Dorado, Arkansas (the “El Dorado Facility”). Additionally, we have certain facilities in our Chemical Business that contain asbestos insulation around certain piping and heated surfaces, which we plan to maintain or replace, as needed, with non-asbestos insulation through our standard repair and maintenance activities to prevent deterioration. Currently, there is insufficient information to estimate the fair value for most of our asset retirement obligations. In addition, we currently have no plans to discontinue the use of these facilities and the remaining life of the facilities is indeterminable. As a result, no asset retirement obligations have been recognized except for $75,000 to retire an injection well at our chemical production facility located in Pryor, Oklahoma (the “Pryor Facility”). However, we will continue to review these obligations and record a liability when a reasonable estimate of the fair value can be made.
Stock Options	Stock Options — Equity award transactions with employees are measured based on the estimated fair value of the equity awards issued. For equity awards with only service conditions that have a graded vesting period, we recognize compensation cost on a straight-line basis over the requisite service period for the entire award. In addition, we issue new shares of common stock upon the exercise of stock options.
Revenue Recognition	Revenue Recognition — We recognize revenue for substantially all of our operations at the time title to the goods transfers to the buyer and there remain no significant future performance obligations by us. Revenue relating to construction contracts is recognized using the percentage-of-completion method based primarily on contract costs incurred to date compared with total estimated contract costs. Changes to total estimated contract costs or losses, if any, are recognized in the period in which they are determined. Sales of warranty contracts are recognized as revenue ratably over the life of the contract. See discussion above under “Product Warranty” for our accounting policy for recognizing warranty expense.
Recognition of Insurance Recoveries	Recognition of Insurance Recoveries — If an insurance claim relates to a recovery of our losses, we recognize the recovery when it is probable and reasonably estimable. If our insurance claim relates to a contingent gain, we recognize the recovery when it is realized or realizable and earned. Amounts recoverable from our insurance carriers, if any, are included in accounts receivable.
Cost of Sales	Cost of Sales — Cost of sales includes materials, labor and overhead costs to manufacture the products sold plus inbound freight, purchasing and receiving costs, inspection costs, internal transfer costs and warehousing costs (excluding certain handling costs directly related to loading product being shipped to customers in our Chemical Business which are included in selling, general and administrative expense). Precious metals used as a catalyst (Chemical Business) and consumed during the manufacturing process are included in cost of sales. In addition, recoveries and gains from precious metals (Chemical Business), sales of material scrap (Climate Control Business), and business interruption insurance claims are reductions to cost of sales. Also, provisions for (realization of) losses associated with inventory reserves and Turnaround costs are included in cost of sales. In addition, gains and losses (realized and unrealized) from our commodities and foreign currency futures/forward contracts are included in cost of sales. Also provision for losses, if any, on firm sales commitments are included in cost of sales.
Selling, General and Administrative Expense	Selling, General and Administrative Expense — Selling, general and administrative expense (“SG&A”) includes costs associated with the sales, marketing and administrative functions. Such costs include personnel costs, including benefits, advertising costs, commission expenses, warranty costs, office and occupancy costs associated with the sales, marketing and administrative functions. SG&A also includes outbound freight in our Climate Control Business and certain handling costs directly related to product being shipped to customers in our Chemical Business. These handling costs primarily consist of personnel costs for loading product into transportation equipment, rent and maintenance costs related to the transportation equipment, and certain indirect costs. In addition, professional fees are included in SG&A. Also, while our previously idled Pryor Facility was not in production in 2010 and 2009, most of the expenses associated with this facility were included in SG&A.
Shipping and Handling Costs	Shipping and Handling Costs — Shipping and handling costs included in net sales and SG&A for each business segment are as follows:
Advertising Costs	Advertising Costs — Costs in connection with advertising and promotion of our products are expensed as incurred. These costs, primarily relating to our Climate Control Business, are as follows.
Derivatives, Hedges, Financial Instruments and Carbon Credits	Derivatives, Hedges, Financial Instruments and Carbon Credits — Derivatives are recognized in the balance sheet and are measured at fair value. Changes in fair value of derivatives are recorded in results of operations unless the normal purchase or sale exceptions apply or hedge accounting is elected. Climate reserve tonnes (“carbon credits”) are recognized in the balance sheet and are measured at fair value. Changes in fair value of carbon credits are recorded in results of operations. Contractual obligations associated with carbon credits are recognized in the balance sheet and are measured at fair value unless we enter into a firm sales commitment to sell the associated carbon credits. When we enter into a firm sales commitment, the sales price, pursuant to the terms of the firm sales commitment, establishes the amount of the associated contractual obligation. Changes in fair value of contractual obligations associated with carbon credits are recorded in results of operations.
Income per Common Share	Income per Common Share — Net income applicable to common stock is computed by adjusting net income by the amount of preferred stock dividends and dividend requirements, if applicable. Basic income per common share is based upon net income applicable to common stock and the weighted-average number of common shares outstanding during each year. Diluted income per share is based on net income applicable to common stock plus preferred stock dividends and dividend requirements on preferred stock assumed to be converted, if dilutive, and interest expense including amortization of debt issuance cost, net of income taxes, on convertible debt assumed to be converted, if dilutive, and the weighted-average number of common shares and dilutive common equivalent shares outstanding, and the assumed conversion of dilutive convertible securities outstanding.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements — In 2010, the Financial Accounting Standards Board (“FASB”) issued an accounting standards update (“ASU”) requiring additional disclosures about an entity’s derivative and hedging activities for the purpose of improving the transparency of financial reporting. A portion of the new disclosure requirements became effective for us on January 1, 2010 and the remaining new disclosure requirements became effective for us on January 1, 2011. These disclosure requirements were applied prospectively. See Note 12 — Derivatives, Hedges, Financial Instruments and Carbon Credits. In 2011, the FASB issued an ASU clarifying how to measure and disclose fair value. The requirements under this ASU became effective for us on January 1, 2012 and are to be applied prospectively. We currently do not expect a significant impact from adopting this ASU. In 2011, the FASB issued ASUs amending current comprehensive income guidance, which eliminate the option to present the components of other comprehensive income as part of the statement of stockholders’ equity. Instead, we must report comprehensive income in either a single continuous statement of comprehensive income which contains two sections, net income and other comprehensive income, or in two separate but consecutive statements. The requirements under these ASUs became effective for us on January 1, 2012 and are to be applied retrospectively. We currently expect to change the format of our presentation as the result of adopting these ASUs. In 2011, the FASB issued an ASU amending current guidance for testing goodwill for impairment. This ASU added an option to first assess qualitative factors to determine if the current two-step impairment test is required. The assessment of qualitative factors is performed to determine whether the existence of events or circumstances leads to the determination that it is more likely than not that the fair value of a reporting unit is less than its carrying amount. Pursuant to the provisions of this ASU, we early adopted this ASU effective July 1, 2011, which provisions were applied prospectively. Our financial statements were not impacted from the adoption of this ASU. In 2011, the FASB issued an ASU requiring additional disclosures about an entity’s offsetting (netting) of certain assets and liabilities for the purpose of improving the transparency of financial reporting. Entities are required to disclose both gross information and net information about both instruments and transactions eligible for offset in the balance sheet and instruments and transactions subject to an agreement similar to a master netting arrangement. The new disclosure requirements become effective for us on January 1, 2013. The disclosure requirements are to be applied retrospectively.

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2011

Summary of Significant Accounting Policies [Abstract]

Goodwill relates to business acquisitions


	December 31,
	2011		2010
	(In Thousands)
Climate Control	$	103	$	103
Chemical		1,621		1,621

Total goodwill	$	1,724	$	1,724

Shipping and handling costs included in net sales and Selling, General and Administrative Expense


	2011		2010		2009
	(In Thousands)
Climate Control:
Shipping and handling costs — SG&A (1)	$	8,564	$	7,706	$	7,910

Chemical:
Shipping costs — Net sales (2)	$	26,179	$	22,436	$	15,897

Handling costs — SG&A (1)	$	5,024	$	5,137	$	5,691


(1)		See discussion above under “Selling, General and Administrative Expense.”

(2)		These costs relate to amounts billed to our customers.

Advertising and promotion of products


	2011		2010		2009
	(In Thousands)
Advertising costs	$	4,528	$	5,149	$	5,915

- Definition

Tabular disclosure of goodwill by reportable segment and in total. Disclosure details may include, but are not limited to, the carrying amount of goodwill, goodwill acquired during the year, goodwill impairment losses recognized, goodwill written-off due to the sale of a business unit, goodwill not yet allocated, and any other changes to goodwill.

+ References + Details

Income Per Common Share (Tables)

12 Months Ended

Dec. 31, 2011

Income Per Common Share [Abstract]

Computation of basic and diluted net income per share


	2011			2010			2009
	(Dollars In Thousands, Except Per Share Amounts)
Numerator:
Net income	$	83,842		$	29,574		$	21,584
Dividends on Series B Preferred		(240	)		(240	)		(240	)
Dividends on Series D Preferred		(60	)		(60	)		(60	)
Dividends on Noncumulative Preferred		(5	)		(5	)		(6	)

Total dividends on preferred stocks		(305	)		(305	)		(306	)

Numerator for basic net income per common share — net income applicable to common stock		83,537			29,269			21,278
Dividends on preferred stocks assumed to be converted, if dilutive		305			305			306
Interest expense including amortization of debt issuance costs, net of income taxes, on convertible debt assumed to be converted, if dilutive		299			1,061			—

Numerator for diluted net income per common share	$	84,141		$	30,635		$	21,584


Denominator:
Denominator for basic net income per common share — weighted-average shares		21,962,294			21,168,184			21,294,780
Effect of dilutive securities:
Convertible preferred stocks		935,432			936,292			938,006
Stock options		325,752			186,258			255,660
Convertible notes payable		275,764			983,160			4,000

Dilutive potential common shares		1,536,948			2,105,710			1,197,666

Denominator for dilutive net income per common share — adjusted weighted-average shares and assumed conversions		23,499,242			23,273,894			22,492,446


Basic net income per common share	$	3.80		$	1.38		$	1.00


Diluted net income per common share	$	3.58		$	1.32		$	.96

Antidilutive securities excluded from computation of earning per share


	2011		2010		2009
Stock options		35,701		357,685		398,699
Convertible notes payable		—		—		1,070,160

		35,701		357,685		1,468,859

Accounts Receivable, net (Tables)

12 Months Ended

Dec. 31, 2011

Accounts Receivable, net [Abstract]

Net Accounts Receivables


	December 31,
	2011			2010
	(In Thousands)
Trade receivables	$	87,303		$	73,367
Other		1,003			1,528

		88,306			74,895
Allowance for doubtful accounts		(955	)		(636	)

	$	87,351		$	74,259

Inventories (Tables)

12 Months Ended

Dec. 31, 2011

Inventory [Abstract]

Inventories


	Finished		Work-in-		Raw
	Goods		Process		Materials		Total
	(In Thousands)
December 31, 2011:
Climate Control products	$	6,871	$	4,855	$	21,579	$	33,305
Chemical products		18,509		—		4,063		22,572
Industrial machinery and components		3,629		—		—		3,629

	$	29,009	$	4,855	$	25,642	$	59,506


December 31, 2010:
Climate Control products	$	7,486	$	2,981	$	18,252	$	28,719
Chemical products		21,161		—		6,801		27,962
Industrial machinery and components		3,425		—		—		3,425

	$	32,072	$	2,981	$	25,053	$	60,106

Changes In the Inventory Reserves


	2011			2010			2009
	(In Thousands)

Balance at beginning of year	$	1,793		$	1,676		$	4,141
Provisions for (realization of) losses		590			184			(2,404	)
Write-offs and disposals		(600	)		(67	)		(61	)

Balance at end of year	$	1,783		$	1,793		$	1,676

Property, Plant and Equipment (Tables)

12 Months Ended

Dec. 31, 2011

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment


	Useful lives	December 31,
	in years	2011		2010
	(In Thousands)

Machinery, equipment and automotive	3 - 30	$	239,322	$	217,539
Buildings and improvements	7 - 30		39,381		34,392
Furniture, fixtures and store equipment	3 - 10		5,926		5,952
Assets under capital leases	10		2,105		2,415
Land improvements	10		1,080		910
Construction in progress	N/A		23,714		9,549
Capital spare parts	N/A		7,407		5,577
Land	N/A		7,242		4,321

			326,177		280,655
Less accumulated depreciation and amortization			161,630		144,900

		$	164,547	$	135,755

Current and Noncurrent Accrued and Other Liabilities (Tables)

12 Months Ended

Dec. 31, 2011

Current and Noncurrent Accrued and Other Liabilities [Abstract]

Summary of current and noncurrent accrued and other liabilities


	December 31,
	2011		2010
	(In Thousands)
Accrued payroll and benefits	$	7,267	$	6,742
Deferred revenue on extended warranty contracts		6,461		5,675
Accrued warranty costs		5,370		3,996
Customer deposits		4,505		2,586
Accrued death benefits		4,017		4,058
Accrued group health and workers’ compensation insurance claims		2,535		2,459
Fair value of derivatives and other		2,283		2,539
Accrued contractual manufacturing obligations		1,613		1,968
Accrued contractual profit-sharing obligation		1,478		71
Accrued executive benefits		1,262		1,187
Accrued commissions		1,016		1,279
Accrued general liability insurance claims		739		1,230
Accrued income taxes		709		4,835
Accrued interest		575		1,343
Other		4,086		4,144

		43,916		44,112
Less noncurrent portion		15,239		12,605

Current portion of accrued and other liabilities	$	28,677	$	31,507

Accrued Warranty Costs (Tables)

12 Months Ended

Dec. 31, 2011

Accrued Warranty Costs [Abstract]

Product warranty obligation


	2011			2010			2009
	(In Thousands)
Balance at beginning of year	$	3,996		$	3,138		$	2,820
Amounts charged to costs and expenses		6,539			4,479			5,252
Costs incurred		(5,165	)		(3,621	)		(4,934	)

Balance at end of year	$	5,370		$	3,996		$	3,138

Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2011

Long-Term Debt [Abstract]

Long-term debt


	December 31,
	2011		2010
	(In Thousands)
Working Capital Revolver Loan due 2012 (A)	$	—	$	—
5.5% Convertible Senior Subordinated Notes due 2012 (B)		—		26,900
Secured Term Loan (C)		72,188		48,773
Other, with a current weighted-average interest rate of 6.71%, most of which is secured by machinery, equipment and real estate (D)		7,272		19,719

		79,460		95,392
Less current portion of long-term debt (E)		4,935		2,328

Long-term debt due after one year (E)	$	74,525	$	93,064

•

incur additional indebtedness,

•

incur liens,

•

make restricted payments or loans to affiliates who are not Borrowers,

•

engage in mergers, consolidations or other forms of recapitalization, or

•

dispose assets.

The Working Capital Revolver Loan also requires all collections on accounts receivable be made through a bank account in the name of the lender or their agent.


	2011		2010		2009
	(Dollars In Thousands)
Principal amounts converted or acquired	$	26,900	$	2,500	$	11,100
Cash paid for acquisitions	$	—	$	2,494	$	8,938
Shares of LSB common stock issued		979,160		—		—


	December 31,
	2011
	Stated Interest			Principal
	Rate			Balance
	(Dollars In Thousands)
Variable interest rate		3.57	%	$	48,125
Fixed interest rate		5.15	%		24,063

Weighted-average interest rate		4.10	%	$	72,188

The maturity date of the Secured Term Loan can be accelerated by the lender upon the occurrence of a continuing event of default, as defined.

(D) Amounts include capital lease obligations of $749,000 and $1,211,000 at December 31, 2011 and 2010, respectively.

(E) Maturities of long-term debt for each of the five years after December 31, 2011 are as follows (in thousands):


2012	$	4,935
2013		4,937
2014		4,685
2015		4,702
2016		58,195
Thereafter		2,006

	$	79,460

Summary of acquisition transactions


	2011		2010		2009
	(Dollars In Thousands)
Principal amounts converted or acquired	$	26,900	$	2,500	$	11,100
Cash paid for acquisitions	$	—	$	2,494	$	8,938
Shares of LSB common stock issued		979,160		—		—

Stated interest rate on secured term loan


	December 31,
	2011
	Stated Interest			Principal
	Rate			Balance
	(Dollars In Thousands)
Variable interest rate		3.57	%	$	48,125
Fixed interest rate		5.15	%		24,063

Weighted-average interest rate		4.10	%	$	72,188

Maturities of long-term debt

(E) Maturities of long-term debt for each of the five years after December 31, 2011 are as follows (in thousands):


2012	$	4,935
2013		4,937
2014		4,685
2015		4,702
2016		58,195
Thereafter		2,006

	$	79,460

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 22
-Article 5

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6451184&loc=d3e28551-108399

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=6451184&loc=d3e28541-108399

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21538-112644

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21521-112644

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=6584090&loc=d3e28878-108400

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6479336&loc=d3e64711-112823

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

+ Details

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2011

Income Taxes [Abstract]

Provisions benefits for income taxes


	2011		2010		2009
	(In Thousands)
Current:
Federal	$	33,006	$	13,723	$	2,456
State		4,514		3,754		1,337

Total Current	$	37,520	$	17,477	$	3,793


Deferred:
Federal	$	7,543	$	1,602	$	9,611
State		1,145		708		1,620

Total Deferred	$	8,688	$	2,310	$	11,231

Provisions for income taxes	$	46,208	$	19,787	$	15,024

Deferred tax assets and liabilities


	December 31,
	2011			2010
	(In Thousands)

Deferred tax assets
Allowance for doubtful accounts	$	872		$	723
Asset impairment		756			725
Inventory		1,724			2,214
Deferred compensation		4,096			3,996
Other accrued liabilities		5,474			4,929
Hedging		1,033			575
Net operating loss carryforwards		392			361
Other		1,069			1,210

Total deferred tax assets		15,416			14,733
Less valuation allowance on deferred tax assets		(344	)		(310	)

Net deferred tax assets	$	15,072		$	14,423


Deferred tax liabilities
Property, plant and equipment	$	28,766		$	19,886
Prepaid and other insurance reserves		2,504			1,852
Investment in unconsolidated affiliate		640			837
Other		713			713

Total deferred tax liabilities	$	32,623		$	23,288


Net deferred tax liabilities	$	(17,551	)	$	(8,865	)


Consolidated balance sheet classification:
Net current deferred tax assets	$	4,275		$	5,396
Net non-current deferred tax liabilities		(21,826	)		(14,261	)

Net deferred tax liabilities	$	(17,551	)	$	(8,865	)


Net deferred tax liabilities by tax jurisdiction:
Federal	$	(15,724	)	$	(8,202	)
State		(1,827	)		(663	)

Net deferred tax liabilities	$	(17,551	)	$	(8,865	)

Income from continuing operations before provision for income taxes


	2011			2010			2009
	(In Thousands)
Provisions for income taxes at federal statutory rate	$	45,567		$	17,326		$	12,906
State current and deferred income taxes		5,088			3,259			1,832
Domestic production activities deduction		(3,091	)		(1,371	)		(282	)
Effect of tax return to tax provision reconciliation		(958	)		(126	)		676
Other		(398	)		699			(108	)

Provisions for income taxes	$	46,208		$	19,787		$	15,024

Reconciliation of the beginning and ending amount of uncertain tax positions


	2011			2010			2009
	(In Thousands)
Balance at beginning of year	$	700		$	608		$	898
Additions based on tax positions related to the current year		217			131			48
Additions based on tax positions of prior years		—			—			82
Reductions for tax positions of prior years		(51	)		(35	)		(355	)
Settlements		(157	)		(4	)		(65	)

Balance at end of year	$	709		$	700		$	608

- Definition

Tabular disclosure of tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities (i.e., uncertain tax positions) and other types of income tax contingencies, including: (1) the policy on classification of interest and penalties; (2) a tabular reconciliation of the total amounts of unrecognized tax benefits at the beginning and end of the period; the total amount(s) of: (3) unrecognized tax benefits that, if recognized, would affect the effective tax rate, and (4) interest and penalties recognized in each of the income statement and balance sheet; (5) for positions for which it is reasonably possible that the total amounts unrecognized will significantly change within 12 months of the reporting date the: (i) nature of the uncertainty, (ii) nature of the event that could occur that would cause the change, and (iii) an estimate of the range of the reasonably possible change or a statement that an estimate of the range cannot be made; and (6) a description of tax years that remain subject to examination by major tax jurisdictions.

+ References + Details

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2011

Commitments and Contingencies [Abstract]

Capital and Operating Leases


	Capital		Operating
	Leases		Leases		Total
	(In Thousands)
2012	$	412	$	5,635	$	6,047
2013		349		4,585		4,934
2014		36		3,453		3,489
2015		—		1,554		1,554
2016		—		1,127		1,127
Thereafter		—		3,913		3,913

Total minimum lease payments		797	$	20,267	$	21,064

Less amounts representing interest		48

Present value of minimum lease payments included in long-term debt	$	749

Derivatives, Hedges, Financial Instruments and Carbon Credits (Tables)

12 Months Ended

Dec. 31, 2011

Derivatives, Hedges, Financial Instruments and Carbon Credits [Abstract]

Assets and liabilities measured at fair value on recurring basis


			Fair Value Measurements at
			December 31, 2011 Using
			Quoted Prices		Significant
	Total Fair		in Active		Other		Significant		Total Fair
	Value at		Markets for		Observable		Unobservable		Value at
	December 31,		Identical Assets		Inputs		Inputs		December 31,
	2011		(Level 1)		(Level 2)		(Level 3)		2010
Description	(In Thousands)

Assets — Supplies, prepaid items and other:
Commodities contracts	$	11	$	11	$	—	$	—	$	761
Carbon credits		42		—		—		42		644
Foreign exchange contracts		—		—		—		—		49

Total	$	53	$	11	$	—	$	42	$	1,454


Liabilities — Current and noncurrent accrued and other liabilities:
Contractual obligations — carbon credits	$	42	$	—	$	—	$	42	$	644
Interest rate contracts		2,241		—		2,241		—		1,895

Total	$	2,283	$	—	$	2,241	$	42	$	2,539

Reconciliation of the beginning and ending balances for assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3)


	Assets							Liabilities
	2011			2010		2009		2011			2010			2009
	(In Thousands)
Beginning balance	$	644		$	—	$	—	$	(644	)	$	—		$	(1,388	)
Transfers into Level 3		—			—		—		—			—			—
Transfers out of Level 3		—			—		—		—			—			—
Total realized and unrealized gains (losses) included in earnings		1,995			644		—		(1,844	)		(644	)		493
Purchases		—			—		—		—			—			—
Issuances		—			—		—		—			—			—
Sales		(2,597	)		—		—		—			—			—
Settlements		—			—		—		2,446			—			895

Ending balance	$	42		$	644	$	—	$	(42	)	$	(644	)	$	—

Total gains (losses) for the period included in earnings attributed to the change in unrealized gains or losses on assets and liabilities still held at the reporting date	$	42		$	644	$	—	$	(42	)	$	(644	)	$	—

Realized and unrealized net losses included in earnings and the income statement


	2011			2010			2009
	(In Thousands)
Total net gains (losses) included in earnings:
Cost of sales — Commodities contracts	$	(523	)	$	(59	)	$	(1,312	)
Cost of sales — Foreign exchange contracts		46			25			(32	)
Other income — Carbon credits		1,995			644			—
Other expense — Contractual obligations relating to carbon credits		(1,844	)		(644	)		—
Interest expense — Interest rate contracts		(1,925	)		(1,527	)		(729	)

	$	(2,251	)	$	(1,561	)	$	(2,073	)


Change in unrealized gains (losses) relating to contracts still held at year end:
Cost of sales — Commodities contracts	$	11		$	761		$	138
Cost of sales — Foreign exchange contracts		—			49			—
Other income — Carbon credits		42			644			—
Other expense — Contractual obligations relating to carbon credits		(42	)		(644	)		—
Interest expense — Interest rate contracts		(346	)		34			508

	$	(335	)	$	844		$	646

The estimated fair value and carrying value of long-term debt


	December 31, 2011				December 31, 2010
	Estimated		Carrying		Estimated		Carrying
	Fair Value		Value		Fair Value		Value
	(In Thousands)
Variable Interest Rate:
Secured Term Loan (1)	$	72,188	$	72,188	$	26,721	$	48,773
Working Capital Revolver Loan		—		—		—		—
Other debt (2)		—		—		2,437		2,437

Fixed Interest Rate:
5.5% Convertible Senior Subordinated Notes		—		—		27,976		26,900
Other bank debt and equipment financing		7,211		7,272		17,251		17,282

	$	79,399	$	79,460	$	74,385	$	95,392


(1)		Includes a fixed interest rate of 5.15% on the principal amount of $24.1 million at December 31, 2011.

(2)		At December 31, 2010, the balance includes a variable interest rate debt agreement with a minimum interest rate of 6%, which interest rate was 6%.

- Definition

Tabular disclosure of the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments, assets, and liabilities. Such certain disclosures about the financial instruments, assets, and liabilities include: (1) the fair value of the required items together with their carrying amounts (as appropriate) and (2) the methodology and assumptions used in developing such estimates of fair value.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 10
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 14
-Subparagraph a
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 15
-Subparagraph b-d
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 157
-Paragraph 32
-Subparagraph a, c(1), c(2), c(3), d
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 159
-Paragraph 18
-Subparagraph c(2), d, e, f
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 159
-Paragraph 19
-Subparagraph a, b, c(1), d(1)
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 10
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6947722&loc=d3e13433-108611

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=6947722&loc=d3e13467-108611

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=6947722&loc=d3e13476-108611

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14172-108612

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6925170&loc=d3e19207-110258

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6447952&loc=d3e13220-108610

+ Details

- Definition

Tabular disclosure of the location and amount of gains and losses reported in the statement of financial performance, or when applicable, the statement of financial position. For example, (a) gains and losses recognized in the income statement on derivative instruments designated and qualifying as hedging instruments in fair value hedges and related hedged items designated and qualifying in fair value hedges and (b) gains and losses initially recognized in other comprehensive income on derivative instruments designated and qualifying as cash flow hedges.

+ References + Details

Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2011

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Valuation assumptions of granted stock options


	2011			2010			2009

Weighted-average risk-free interest rate		1.21	%		N/A			N/A
Dividend yield		—			N/A			N/A
Weighted-average expected volatility		48.59	%		N/A			N/A
Total weighted-average expected forfeiture rate		2.97	%		N/A			N/A
Weighted-average expected life (years)		5.90			N/A			N/A
Total weighted-average remaining vesting period in years (1)		4.30			4.57			5.60
Total fair value of options granted	$	4,064,000			N/A			N/A
Stock-based compensation expense — Cost of sales (1)	$	60,000		$	42,000		$	44,000
Stock-based compensation expense — SG&A (1)	$	1,039,000		$	963,000		$	977,000
Income tax benefit (1)	$	(390,000	)	$	(402,000	)	$	(408,000	)


(1)		Information relates to stock options granted since 2006.

Stock option activities of stock option plans


	December 31,
	2011
	2008 Plan		1998 Plan

Maximum number of securities for issuance		1,000,000		N/A
Number of awards available to be granted		344,370		N/A
Number of qualified options outstanding		505,330		11,000
Number of qualified options exercisable		78,065		11,000


	2011
				Weighted-Average
	Shares			Exercise Price
Outstanding at beginning of year		389,026		$	8.41
Granted		249,000		$	34.41
Exercised		(114,996	)	$	6.54
Cancelled, forfeited or expired		(6,700	)	$	9.69

Outstanding at end of year		516,330		$	21.34


Exercisable at end of year		89,065		$	8.85


	2011		2010		2009
Weighted-average fair value per option granted during year	$	16.00		N/A	$	N/A


Total intrinsic value of options exercised during the year	$	3,294,000	$	441,000	$	3,051,000


Total fair value of options vested during the year	$	208,000	$	214,000	$	220,000


	2011
				Weighted-Average
	Shares			Exercise Price
Outstanding at beginning of year		374,600		$	7.83
Granted		5,000		$	34.50
Exercised		(63,075	)	$	7.05
Surrendered, forfeited, or expired		—

Outstanding at end of year		316,525		$	8.41


Exercisable at end of year		66,325		$	7.97


	2011		2010		2009

Weighted-average fair value per option granted during year	$	16.25		N/A		N/A


Total intrinsic value of options exercised during the year	$	2,110,000	$	805,000	$	2,201,000


Total fair value of options vested during the year	$	730,000	$	721,000	$	721,000

Stock options outstanding and exercisable

The following table summarizes information about qualified stock options outstanding and exercisable at December 31, 2011:

Stock Options Outstanding

Weighted-

Average

Weighted-

Intrinsic

Remaining

Average

Value of

Shares

Contractual Life

Exercise

Shares

Exercise Prices

Outstanding

in Years

Price

Outstanding

$5.10

11,000

3.92

5.10

252,000

$7.86 — $8.17

48,375

6.95

7.87

976,000

$9.69 — $9.97

207,955

6.83

9.69

3,813,000

$29.99 — $34.50

249,000

9.90

34.41

—

$5.10 — $34.50

516,330

8.26

21.34

5,041,000

Stock Options Exercisable

Weighted-

Average

Weighted-

Intrinsic

Remaining

Average

Value of

Shares

Contractual Life

Exercise

Shares

Exercise Prices

Exercisable

in Years

Price

Exercisable

$5.10

11,000

3.92

5.10

252,000

$7.86 — $8.17

13,530

6.94

7.87

273,000

$9.69 — $9.97

64,535

6.83

9.69

1,184,000

$29.99 — $34.50

—

$5.10 — $34.50

89,065

6.49

8.85

1,709,000

Stock Options Outstanding

Weighted-

Average

Weighted-

Intrinsic

Remaining

Average

Value of

Shares

Contractual Life

Exercise

Shares

Exercise Prices

Outstanding

in Years

Price

Outstanding

$7.86

36,525

6.92

7.86

737,000

$8.01

275,000

4.75

8.01

5,505,000

$34.50

5,000

9.92

34.50

—

$7.86 — $34.50

316,525

5.08

8.41

6,242,000

Stock Options Exercisable

Weighted-

Average

Weighted-

Intrinsic

Remaining

Average

Value of

Shares

Contractual Life

Exercise

Shares

Exercise Prices

Exercisable

in Years

Price

Exercisable

$7.86

16,325

6.92

7.86

329,000

$8.01

50,000

4.75

8.01

1,001,000

$34.50

—

$7.86 — $34.50

66,325

5.28

7.97

1,330,000

Executive Benefit Agreements and Employee Savings Plans (Tables)

12 Months Ended

Dec. 31, 2011

Executive Benefit Agreements and Employee Savings Plans [Abstract]

Executive Benefit Agreements


	December 31,
	2011			2010
	(Dollars In Thousands)
Total undiscounted death benefits - 1981 Agreements	$	4,115		$	4,115

Total undiscounted death benefits — 1992 Agreements	$	302		$	302

Total undiscounted death benefit — 2005 Agreement	$	2,500		$	2,500

Accrued death benefits — All agreements	$	4,017		$	4,058


Total undiscounted executive benefits — 1992 Agreements	$	1,950		$	1,963

Discount rates utilized — 1992 Agreements		3.58	%		4.17	%

Accrued executive benefits — 1992 Agreements	$	1,262		$	1,187

Executive Benefit expenses


	2011		2010		2009
	(In Thousands)
Costs associated with executive benefits included in SG&A	$	158	$	169	$	75

Life Insurance Policies


	December 31,
	2011			2010
	(In Thousands)
Total face value of life insurance policies (1)	$	21,522		$	21,522


Cash surrender values of life insurance policies	$	4,961		$	4,461
Loans on cash surrender values		(1,890	)		(1,844	)

Net cash surrender values	$	3,071		$	2,617

Life Insurance Premiums


	2011			2010			2009
	(In Thousands)
Cost of life insurance premiums	$	851		$	851		$	842
Increases in cash surrender values	$	(499	)	$	(496	)	$	(494	)


Net cost of life insurance premiums included in SG&A	$	352		$	355		$	348


(1)		Includes $7,000,000 on the life of our CEO, of which $2,500,000 is required to be paid under the 2005 Agreement as discussed above.

Other Expense, Other Income and Non-Operating Other Income, net (Tables)

12 Months Ended

Dec. 31, 2011

Other Expense, Other Income and Non-Operating Other Income, net [Abstract]

Other Expense, Other Income and Non-Operating Other Income, net


	2011			2010			2009
	(In Thousands)
Other expense:
Realized and unrealized losses on contractual obligations associated with carbon credits	$	1,844		$	644		$	—
Losses on sales and disposals of property and equipment		1,280			460			378
Miscellaneous expense (1)		699			158			149

Total other expense	$	3,823		$	1,262		$	527


Other income:
Realized and unrealized gains on carbon credits	$	1,995		$	644		$	—
Settlements of litigation and potential litigation (2)		1,562			—			50
Property insurance recoveries in excess of losses incurred (3)		—			7,518			—
Miscellaneous income (1)		381			265			237

Total other income	$	3,938		$	8,427		$	287


Non-operating other income, net:
Interest income	$	77		$	133		$	216
Miscellaneous income (1)		—			—			1
Miscellaneous expense (1)		(77	)		(80	)		(87	)

Total non-operating other income, net	$	—		$	53		$	130


(1)		Amounts represent numerous unrelated transactions, none of which are individually significant requiring separate disclosure.

(2)		Amounts relate primarily to settlements reached with certain vendors of our Chemical Business.

(3)		Amount relates primarily to recoveries from property insurance claims associated with our Chemical Business.

Segment Information (Tables)

12 Months Ended

Dec. 31, 2011

Segment Information [Abstract]

Segment Financial Information


	2011			2010			2009
	(In Thousands)
Net sales:
Climate Control:
Geothermal and water source heat pumps	$	183,789		$	171,561		$	179,865
Hydronic fan coils		54,379			37,923			46,381
Other HVAC products		43,397			41,037			39,923

Total Climate Control		281,565			250,521			266,169

Chemical:
Agricultural products		231,599			135,598			104,300
Industrial acids and other chemical products		161,776			126,846			95,997
Mining products		118,479			88,642			57,535

Total Chemical		511,854			351,086			257,832
Other		11,837			8,298			7,837

	$	805,256		$	609,905		$	531,838


Gross profit:
Climate Control	$	88,178		$	86,364		$	92,409
Chemical		130,687			49,295			42,422
Other		4,153			2,966			2,583

	$	223,018		$	138,625		$	137,414


Operating income:
Climate Control	$	32,759		$	35,338		$	37,706
Chemical		116,503			31,948			15,122
General corporate expenses and other business operations, net (1)		(12,819	)		(11,361	)		(12,118	)

		136,443			55,925			40,710
Interest expense		(6,658	)		(7,427	)		(6,746	)
Gain (losses) on extinguishment of debt		(136	)		(52	)		1,783
Non-operating income (expense), net:
Climate Control		2			3			8
Chemical		1			7			31
Corporate and other business operations		(3	)		43			91
Provisions for income taxes		(46,208	)		(19,787	)		(15,024	)

Equity in earnings of affiliate — Climate Control		543			1,003			996

Income from continuing operations	$	83,984		$	29,715		$	21,849

General corporate expenses and other business operations, net


	2011			2010			2009
	(In Thousands)
Gross profit-Other	$	4,153		$	2,966		$	2,583
Selling, general and administrative:
Personnel costs		(8,418	)		(7,865	)		(8,083	)
Professional fees		(3,805	)		(3,784	)		(3,687	)
All other		(4,224	)		(3,040	)		(2,917	)

Total selling, general and administrative		(16,447	)		(14,689	)		(14,687	)

Other income		118			366			192
Other expense		(643	)		(4	)		(206	)

Total general corporate expenses and other business operations, net	$	(12,819	)	$	(11,361	)	$	(12,118	)

PP&E and total assets by business segment


	2011		2010		2009
	(In Thousands)
Depreciation of PP&E:
Climate Control	$	3,853	$	4,026	$	4,077
Chemical		14,659		13,154		11,291
Corporate assets and other		250		149		233

Total depreciation of PP&E	$	18,762	$	17,329	$	15,601


Additions to PP&E:
Climate Control	$	5,746	$	7,177	$	6,438
Chemical		39,835		28,850		24,627
Corporate assets and other		2,376		518		271

Total additions to PP&E	$	47,957	$	36,545	$	31,336


Total assets at December 31:
Climate Control	$	119,323	$	112,894	$	102,029
Chemical		214,246		179,033		143,800
Corporate assets and other		168,440		96,054		92,804

Total assets	$	502,009	$	387,981	$	338,633

Net sales to foreign customers


Geographic Area	2011		2010		2009
	(In Thousands)
Canada	$	23,765	$	19,345	$	20,224
Middle East		5,688		6,257		4,440
Mexico, Central and South America		2,452		1,411		2,154
Europe		2,015		2,373		1,114
South and East Asia		1,077		1,635		1,124
Other		1,218		835		843

	$	36,215	$	31,856	$	29,899

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References + Details

Summary of Significant Accounting Policies (Details) - USD ($) $ in Thousands	Dec. 31, 2011	Dec. 31, 2010
Goodwill relates to business acquisition
Goodwill	$ 1,724	$ 1,724
Climate Control [Member]
Goodwill relates to business acquisition
Goodwill	103	103
Chemical [Member]
Goodwill relates to business acquisition
Goodwill	$ 1,621	$ 1,621

- Definition

Carrying amount as of the balance sheet date, which is the cumulative amount paid and (if applicable) the fair value of any noncontrolling interest in the acquiree, adjusted for any amortization recognized prior to the adoption of any changes in generally accepted accounting principles (as applicable) and for any impairment charges, in excess of the fair value of net assets acquired in one or more business combination transactions.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 142
-Paragraph 45
-Subparagraph e
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 142
-Paragraph 43
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 141R
-Paragraph 68
-Subparagraph l
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 45
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6388280&loc=d3e13770-109266

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6905597&loc=d3e13816-109267

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 141R
-Paragraph 72
-Subparagraph d
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 142
-Paragraph 45
-Subparagraph e
-Clause 1
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 141R
-Paragraph 34
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Summary of Significant Accounting Policies (Details 1) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Climate Control [Member]
Shipping and handling costs included in net sales and Selling, General and Administrative Expense
Shipping and handling costs - SG&A (1)	$ 8,564	$ 7,706	$ 7,910
Chemical [Member]
Shipping and handling costs included in net sales and Selling, General and Administrative Expense
Shipping costs - Net sales (2)	26,179	22,436	15,897
Handling costs - SG&A (1)	$ 5,024	$ 5,137	$ 5,691

- Definition

Cost incurred during the reporting period in transporting goods and services to customers. Includes freight-out costs.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Principles Board Opinion (APB)
-Number 22
-Paragraph 8
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Emerging Issues Task Force (EITF)
-Number 00-10
-Paragraph 6
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6367646&loc=d3e18780-107790

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6367646&loc=d3e18726-107790

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 605
-SubTopic 45
-Section 45
-Paragraph 20
-URI http://asc.fasb.org/extlink&oid=6743974&loc=d3e60635-111653

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Handling Costs
-URI http://asc.fasb.org/extlink&oid=6514758

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 605
-SubTopic 45
-Section S99
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6408413&loc=d3e221937-122793

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 605
-SubTopic 45
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6408196&loc=d3e61069-111654

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Shipping Costs
-URI http://asc.fasb.org/extlink&oid=6525344

+ Details

Summary of Significant Accounting Policies (Details 2) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Advertising and promotion of products
Advertising costs	$ 4,528	$ 5,149	$ 5,915

Summary of Significant Accounting Policies (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Schedule of Equity Method Investments [Line Items]
Ownership interest in Equity Method Investment	50.00%
Summary of Significant Accounting Policies (Textual) [Abstract]
Maturity period of short-term investments	P13W
Impairments of goodwill	$ 0	$ 0	$ 0
Insurance coverage of general liability and auto liability risks	100,000,000
Insurance policy covering pollution liability	$ 30,000,000
Tax benefit recognized	Greater than 50%
Asset retirement obligations	$ 75,000
Assets held for sale	$ 0	$ 0
Minimum [Member]
Schedule of Equity Method Investments [Line Items]
Ownership interest in Equity Method Investment	20.00%
Maximum [Member]
Schedule of Equity Method Investments [Line Items]
Ownership interest in Equity Method Investment	50.00%

Income Per Common Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Numerator:
Net income	$ 83,842	$ 29,574	$ 21,584
Total dividends on preferred stocks	305	305	306
Numerator for basic net income per common share - net income applicable to common stock	83,537	29,269	21,278
Dividends on preferred stocks assumed to be converted, if dilutive	305	305	306
Interest expense including amortization of debt issuance costs, net of income taxes, on convertible debt assumed to be converted, if dilutive	299	1,061
Numerator for diluted net income per common share	$ 84,141	$ 30,635	$ 21,584
Denominator:
Denominator for basic net income per common share - weighted-average shares	21,962,294	21,168,184	21,294,780
Effect of dilutive securities:
Convertible preferred stocks	935,432	936,292	938,006
Stock options	325,752	186,258	255,660
Convertible notes payable	275,764	983,160	4,000
Dilutive potential common shares	1,536,948	2,105,710	1,197,666
Denominator for dilutive net income per common share-adjusted weighted-average shares and assumed conversions	23,499,242	23,273,894	22,492,446
Basic net income per common share	$ 3.80	$ 1.38	$ 1.00
Diluted net income per common share	$ 3.58	$ 1.32	$ 0.96
Series B Preferred stock [Member]
Numerator:
Total dividends on preferred stocks	$ (240)	$ (240)	$ (240)
Series D Preferred stock
Numerator:
Total dividends on preferred stocks	(60)	(60)	(60)
Noncumulative Preferred Stock [Member]
Numerator:
Total dividends on preferred stocks	$ (5)	$ (5)	$ (6)

Income Per Common Share (Details 1) - shares	12 Months Ended
Income Per Common Share (Details 1) - shares	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Antidilutive securities excluded from computation of earning per share
Antidilutive Securities Excluded from Computation of Earnings Per Share	35,701	357,685	1,468,859
Stock Options [Member]
Antidilutive securities excluded from computation of earning per share
Antidilutive Securities Excluded from Computation of Earnings Per Share	35,701	357,685	398,699
Convertible notes payable [Member]
Antidilutive securities excluded from computation of earning per share
Antidilutive Securities Excluded from Computation of Earnings Per Share			1,070,160

- Definition

Securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) or earnings per unit (EPU) in the future that were not included in the computation of diluted EPS or EPU because to do so would increase EPS or EPU amounts or decrease loss per share or unit amounts for the period presented.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 128
-Paragraph 13, 14
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 128
-Paragraph 171
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 128
-Paragraph 40
-Subparagraph c
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Diluted Earnings Per Share
-URI http://asc.fasb.org/extlink&oid=6510752

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Contingent Stock Agreement
-URI http://asc.fasb.org/extlink&oid=6508534

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Antidilution
-URI http://asc.fasb.org/extlink&oid=6505113

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Emerging Issues Task Force (EITF)
-Number 07-4
-Paragraph 4
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Accounts Receivable, net (Details) $ in Thousands	12 Months Ended
Accounts Receivable, net (Details) $ in Thousands	Dec. 31, 2011 USD ($) Person	Dec. 31, 2010 USD ($)
Net Accounts Receivables
Trade receivables	$ 87,303	$ 73,367
Other	1,003	1,528
Receivable Gross	88,306	74,895
Allowance for doubtful accounts	(955)	(636)
Accounts receivable, net	$ 87,351	$ 74,259
Accounts Receivable (Textual) [Abstract]
Trade receivable payment terms	payment terms of 15 days or less
Percentage of Net Receivables	41.00%
Number of customers accounted as Percentage of accounts receivable \| Person	13

Inventories (Details) - USD ($) $ in Thousands	Dec. 31, 2011	Dec. 31, 2010
Inventories
Finished Goods	$ 29,009	$ 32,072
Work-in-Process	4,855	2,981
Raw Materials	25,642	25,053
Total	59,506	60,106
Climate Control products [Member]
Inventories
Finished Goods	6,871	7,486
Work-in-Process	4,855	2,981
Raw Materials	21,579	18,252
Total	33,305	28,719
Chemical products [Member]
Inventories
Finished Goods	18,509	21,161
Work-in-Process	0	0
Raw Materials	4,063	6,801
Total	22,572	27,962
Industrial machinery and components [Member]
Inventories
Finished Goods	3,629	3,425
Work-in-Process	0	0
Raw Materials	0	0
Total	$ 3,629	$ 3,425

Inventories (Details 1) - USD ($) $ in Thousands	12 Months Ended
Inventories (Details 1) - USD ($) $ in Thousands	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Changes In the Inventory Reserves
Balance at beginning of year	$ 1,793	$ 1,676	$ 4,141
Provisions for (realization of) losses	590	184	(2,404)
Write-offs and disposals	(600)	(67)	(61)
Balance at end of year	$ 1,783	$ 1,793	$ 1,676

- Definition

The amount of the valuation account as of the balance sheet date which reduces the carrying amount of inventory to net realizable value; takes into consideration such factors as market value, excessive quantities based on expected sales, technological obsolescence, and shrinkage. May also provide for estimated product returns or price concessions pertaining to product cost.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 6
-Subparagraph a
-Article 5

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 43
-Chapter 3
-Section A
-Paragraph 9
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 43
-Chapter 4
-Paragraph 14
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 43
-Chapter 4
-Paragraph 8, 9, 14
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 09
-Article 12

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.6(a))
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 330
-SubTopic 10
-Section 35
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6386567&loc=d3e3927-108312

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 330
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB TOPIC 5.BB)
-URI http://asc.fasb.org/extlink&oid=6386940&loc=d3e100047-122729

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 4
-Subparagraph (SX 210.12-09)
-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e24092-122690

+ Details

Inventories (Details Textual) - USD ($)	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009	Dec. 31, 2008
Inventories (Textual) [Abstract]
Inventory reserves	$ 1,783,000	$ 1,793,000	$ 1,676,000	$ 4,141,000
Climate Control products [Member]
Inventories (Textual) [Abstract]
Inventory reserves	1,767,000	1,616,000
Chemical products [Member]
Inventories (Textual) [Abstract]
Inventory reserves	$ 16,000	$ 177,000

- Definition

+ References

+ Details

Property, Plant and Equipment (Details) $ in Thousands	12 Months Ended
Property, Plant and Equipment (Details) $ in Thousands	Dec. 31, 2011 USD ($) yr	Dec. 31, 2010 USD ($)
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 326,177	$ 280,655
Less accumulated depreciation and amortization	161,630	144,900
Property, plant and equipment, net	$ 164,547	135,755
Machinery, equipment and automotive [Member]
Property, Plant and Equipment [Line Items]
Useful lives in years, Minimum \| yr	3
Useful lives in years, Maximum \| yr	30
Property, Plant and Equipment, Gross	$ 239,322	217,539
Buildings and improvements [Member]
Property, Plant and Equipment [Line Items]
Useful lives in years, Minimum \| yr	7
Useful lives in years, Maximum	30
Property, Plant and Equipment, Gross	$ 39,381	34,392
Furniture, fixtures and store equipment [Member]
Property, Plant and Equipment [Line Items]
Useful lives in years, Minimum \| yr	3
Useful lives in years, Maximum \| yr	10
Property, Plant and Equipment, Gross	$ 5,926	5,952
Assets under capital leases [Member]
Property, Plant and Equipment [Line Items]
Useful lives in years, Average \| yr	10
Property, Plant and Equipment, Gross	$ 2,105	2,415
Land improvements [Member]
Property, Plant and Equipment [Line Items]
Useful lives in years, Average \| yr	10
Property, Plant and Equipment, Gross	$ 1,080	910
Construction in progress [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	23,714	9,549
Capital spare parts [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	7,407	5,577
Land [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 7,242	$ 4,321

Property, Plant and Equipment (Details Textual)	12 Months Ended
Property, Plant and Equipment (Details Textual)	Dec. 31, 2011 USD ($) yr	Dec. 31, 2010 USD ($)
Property plant and equipment (Textual) [Abstract]
Accumulated amortization for assets capitalized under capital leases \| $	$ 718,000	$ 627,000
Chemical processing plants and plant infrastructure [Member]
Machinery and Equipment [Line Items]
Useful lives in years, Minimum	15
Useful lives in years, Maximum	30
Production, fabrication, and assembly equipment [Member]
Machinery and Equipment [Line Items]
Useful lives in years, Minimum	7
Useful lives in years, Maximum	15
Processing plant components [Member]
Machinery and Equipment [Line Items]
Useful lives in years, Minimum	3
Useful lives in years, Maximum	10
Trucks automobiles trailers and other rolling stock [Member]
Machinery and Equipment [Line Items]
Useful lives in years, Minimum	3
Useful lives in years, Maximum	7

Investment In Affiliate (Details)	Dec. 31, 2011
Investment in Affiliate (Textual) [Abstract]
Percentage equity interest in Cepolk Limited Partnership	50.00%

Current and Noncurrent Accrued and Other Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009	Dec. 31, 2008
Summary of current and noncurrent accrued and other liabilities
Accrued payroll and benefits	$ 7,267	$ 6,742
Deferred revenue on extended warranty contracts	6,461	5,675
Accrued warranty costs	5,370	3,996	$ 3,138	$ 2,820
Customer deposits	4,505	2,586
Accrued death benefits	4,017	4,058
Accrued group health and workers' compensation insurance claims	2,535	2,459
Fair value of derivatives and other	2,283	2,539
Accrued contractual manufacturing obligations	1,613	1,968
Accrued contractual profit-sharing obligation	1,478	71
Accrued executive benefits	1,262	1,187
Accrued commissions	1,016	1,279
Accrued general liability insurance claims	739	1,230
Accrued income taxes	709	4,835
Accrued interest	575	1,343
Other	4,086	4,144
Total current and noncurrent accrued liabilities	43,916	44,112
Less noncurrent portion	15,239	12,605
Current portion of accrued and other liabilities	$ 28,677	$ 31,507

Accrued Warranty Costs (Details) - USD ($) $ in Thousands	12 Months Ended
Accrued Warranty Costs (Details) - USD ($) $ in Thousands	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Product warranty obligation
Balance at beginning of year	$ 3,996	$ 3,138	$ 2,820
Amounts charged to costs and expenses	6,539	4,479	5,252
Costs incurred	(5,165)	(3,621)	(4,934)
Balance at end of year	$ 5,370	$ 3,996	$ 3,138

Accrued Warranty Costs (Details Textual)	12 Months Ended
Accrued Warranty Costs (Details Textual)	Dec. 31, 2011
Accrued Warranty Costs (Textual) [Abstract]
Commercial and industrial product base warranty coverage for manufactured product	Eighteen months from the date of shipment or twelve months from the date of start up, whichever is shorter
Commercial and industrial product base warranty coverage for spare parts	90 days
Residential products, the base warranty coverage from the date of shipment for material	10 years
Residential products warranty coverage for labor associated with repair	5 years

Long Term Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2011	Dec. 31, 2010
Long-Term Debt
Long-term debt	$ 79,460	$ 95,392
Less current portion of long-term debt	4,935	2,328
Long-term debt due after one year	74,525	93,064
Working Capital Revolver Loan due 2012 [Member]
Long-Term Debt
Long-term debt	0	0
5.5% Convertible Senior Subordinated Notes due 2012 [Member]
Long-Term Debt
Long-term debt	0	26,900
Secured Term Loan due 2012 [Member]
Long-Term Debt
Long-term debt	72,188	48,773
Other long-term debt [Member]
Long-Term Debt
Long-term debt	$ 7,272	$ 19,719

Long-Term Debt (Details 1) - USD ($) $ in Thousands	12 Months Ended
Long-Term Debt (Details 1) - USD ($) $ in Thousands	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Summary of Acquisition Transactions
Principal amounts converted or acquired	$ 26,900	$ 2,500	$ 11,100
Cash paid for acquisitions		$ 2,494	$ 8,938
Shares of LSB common stock issued	979,160

- Definition

Number of shares issued during the period as a result of the conversion of convertible securities.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Principles Board Opinion (APB)
-Number 12
-Paragraph 10
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Article 3

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 129
-Paragraph 4, 5
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 29, 30
-Article 5

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI http://asc.fasb.org/extlink&oid=6959260&loc=d3e187085-122770

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644

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-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.29-30)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Long Term Debt (Details 2) $ in Thousands	Dec. 31, 2011 USD ($)
Stated interest rate on Secured Term Loan
Variable interest rate, Stated Interest Rate	3.57%
Variable interest rate, Principal Balance	$ 48,125
Fixed interest rate, Stated Interest Rate	5.15%
Fixed interest rate, Principal Balance	$ 24,063
Weighted-average interest rate, Stated Interest Rate	4.10%
Weighted-average interest rate, Principal Balance	$ 72,188

Long Term Debt (Details 3) - USD ($) $ in Thousands	Dec. 31, 2011	Dec. 31, 2010
Maturities of Long-term Debt [Abstract]
2012	$ 4,935
2013	4,937
2014	4,685
2015	4,702
2016	58,195
Thereafter	2,006
Long-term debt	$ 79,460	$ 95,392

Long Term Debt (Details Textual)	1 Months Ended	12 Months Ended
Long Term Debt (Details Textual)	Jun. 30, 2007 USD ($) Person	Dec. 31, 2011 USD ($)	Dec. 31, 2010 USD ($)	Dec. 31, 2007
Long-Term Debt (Textual) [Abstract]
Weighted average interest rate of other debt		4.10%
Working Capital Revolver Loan due 2012 [Member]
Long-Term Debt (Textual) [Abstract]
Maximum amount of revolving credit facility		$ 50,000,000
Description of Interest rate of Revolving Credit Facility		Interest at a base rate (generally equivalent to the prime rate) plus .50% or LIBOR plus 1.75%
Debt instrument, maturity date		Apr. 13, 2012
Line of credit facility, interest rate		3.75%
Maximum amount of letter of credit		$ 8,500,000
Remaining borrowing capacity of revolving credit facility		$ 48,600,000
Fees Expressed as percentage for unused letters of credit		1.00%
Fees Expressed as percentage for unused revolving credit facility		0.375%
Carrying value of the pledged assets		$ 258,000,000
Working capital revolver loan requirements		EBITDA requirement of greater than $25 million; a minimum fixed charge coverage ratio of not less than 1.10 to 1; and a maximum senior leverage coverage ratio of not greater than 4.50 to 1
Debt instrument, interest rate		1.75%
Borrowing interest rate basis spread		0.50%
5.5% Convertible Senior Subordinated Notes due 2012 [Member]
Long-Term Debt (Textual) [Abstract]
Number of Qualified institutional buyers \| Person	22
Aggregate principal amount of debentures sold	$ 60,000,000
Debt instrument, interest rate	5.50%			5.50%
Secured Term Loan due 2012 [Member]
Long-Term Debt (Textual) [Abstract]
Secured term loan interest Rate Basis		Three month Libor plus 300 basis points adjusted quarterly
Carrying value of the pledged assets		$ 72,000,000
Debt instrument, interest rate		5.15%
Original principal amount of secured term loan		$ 50,000,000
Modified principal amount of secured loan		$ 60,000,000
Amended additional principal amount of secured loan		15000000
Amended principal amount of secured loan		$ 75,000,000
Maturity date of original secured term loan		November 2, 2012
Maturity date of amended secured term loan		March 29, 2016
Periodic principal payment of secured loan		$ 900,000
Interest and final balloon payment of secured loan		$ 56,300,000
Borrowing interest rate basis spread		3.00%
Period for LIBOR		3 months
Carrying value of restricted net assets		$ 97,000,000
Secured term loan agreement requirements		Borrowers are also subject to a minimum fixed charge coverage ratio of not less than 1.10 to 1 and a maximum leverage ratio of not greater than 4.50 to 1
Initial percentage of principal amount as prepayment premium		0.025
Reduced prepayment premium percentage		0.010
Period of time before prepayment premium is reduced		24 months
End date of initial prepayment premium period		3/29/2012
Other long-term debt [Member]
Long-Term Debt (Textual) [Abstract]
Weighted average interest rate of other debt		6.71%
Debt instrument, interest rate			6.00%
Capital lease obligation		$ 749,000	$ 1,211,000

Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Current:
Federal	$ 33,006	$ 13,723	$ 2,456
State	4,514	3,754	1,337
Total Current	37,520	17,477	3,793
Deferred:
Federal	7,543	1,602	9,611
State	1,145	708	1,620
Total Deferred	8,688	2,310	11,231
Provisions for income taxes	$ 46,208	$ 19,787	$ 15,024

- Definition

The component of income tax expense for the period representing amounts paid or payable (or refundable) as determined by applying the provisions of enacted federal tax law to the domestic taxable Income or Loss from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 109
-Paragraph 45
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Paragraph h
-Article 4

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-Name Staff Accounting Bulletin (SAB)
-Number Topic 6
-Section I
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-Name Accounting Standards Codification
-Topic 235
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-Publisher FASB
-Name Accounting Standards Codification
-Glossary Current Tax Expense (or Benefit)
-URI http://asc.fasb.org/extlink&oid=6509736

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-Name Accounting Standards Codification
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+ Details

- Definition

The component of income tax expense for the period representing amounts of income taxes paid or payable (or refundable) for the period for all income tax obligations as determined by applying the provisions of relevant enacted tax laws to relevant amounts of taxable Income or Loss from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Paragraph h
-Article 4

Reference 2: http://www.xbrl.org/2003/role/presentationRef
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Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 6
-Section I
-Subsection 7

+ Details

- Definition

The component of income tax expense for the period representing amounts paid or payable (or refundable) as determined by applying the provisions of enacted state and local tax law to relevant amounts of taxable Income or Loss from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
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-Name Statement of Financial Accounting Standard (FAS)
-Number 109
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-Name Regulation S-X (SX)
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Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 6
-Section I
-Subsection 7

+ Details

- Definition

The component of total income tax expense for the period comprised of the increase (decrease) during the period in the entity's domestic deferred tax assets and liabilities attributable to continuing operations as determined by applying the provisions of the federally enacted tax law.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Paragraph h
-Article 4

Reference 2: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Glossary Deferred Tax Expense (or Benefit)
-URI http://asc.fasb.org/extlink&oid=6510177

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+ Details

- Definition

The component of income tax expense for the period representing the increase (decrease) in the entity's deferred tax assets and liabilities pertaining to continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 95
-Paragraph 28
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Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 6
-Section I
-Subsection 7

+ Details

- Definition

The component of total income tax expense for the period comprised of the increase (decrease) in the entity's state and local deferred tax assets and liabilities attributable to continuing operations as determined by applying the provisions of the applicable enacted tax laws.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Paragraph h
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
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+ Details

Income Taxes (Details 1) - USD ($) $ in Thousands	Dec. 31, 2011	Dec. 31, 2010
Amounts not deductible for tax purposes:
Allowance for doubtful accounts	$ 872	$ 723
Asset impairment	756	725
Inventory	1,724	2,214
Deferred compensation	4,096	3,996
Other accrued liabilities	5,474	4,929
Hedging	1,033	575
Net operating loss carryforwards	392	361
Other	1,069	1,210
Total deferred tax assets	15,416	14,733
Less valuation allowance on deferred tax assets	(344)	(310)
Net deferred tax assets	15,072	14,423
Deferred tax liabilities
Property, plant and equipment	28,766	19,886
Prepaid and other insurance reserves	2,504	1,852
Investment in unconsolidated affiliate	640	837
Other	713	713
Total deferred tax liabilities	32,623	23,288
Net deferred tax liabilities	(17,551)	(8,865)
Consolidated balance sheet classification:
Net current deferred tax assets	4,275	5,396
Net non-current deferred tax liabilities	(21,826)	(14,261)
Net deferred tax assets (liabilities) by tax jurisdiction:
Federal	(15,724)	(8,202)
State	$ (1,827)	$ (663)

Income Taxes (Details 2) - USD ($) $ in Thousands	12 Months Ended
Income Taxes (Details 2) - USD ($) $ in Thousands	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Income from continuing operations before provision for income taxes
Provisions for income taxes at federal statutory rate	$ 45,567	$ 17,326	$ 12,906
State current and deferred income taxes	5,088	3,259	1,832
Domestic production activities deduction	(3,091)	(1,371)	(282)
Effect of tax return to tax provision reconciliation	(958)	(126)	676
Other	(398)	699	(108)
Provisions for income taxes	$ 46,208	$ 19,787	$ 15,024

Income Taxes (Details 3) - USD ($) $ in Thousands	12 Months Ended
Income Taxes (Details 3) - USD ($) $ in Thousands	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Reconciliation of the beginning and ending amount of uncertain tax positions
Additions based on tax positions related to the current year	$ 217	$ 131	$ 48
Additions based on tax positions of prior years	0	0	82
Reductions for tax positions of prior years	(51)	(35)	(355)
Settlements	(157)	(4)	(65)
Balance at beginning of year	700	608	898
Balance at end of year	$ 709	$ 700	$ 608

Income Taxes (Details Textual) - USD ($)	1 Months Ended	12 Months Ended
Income Taxes (Details Textual) - USD ($)	Jun. 30, 2010	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Income Taxes (Textual) [Abstract]
Income tax benefit		$ 80,000	$ 78,000	$ 155,000
Additional income tax provision	$ 800,000
Decreases in basic net income per share			$ 0.04
Decreases in diluted net income per share			$ 0.03
Current period excess stock-based compensation tax deduction		1,300,000	$ 600,000	900,000
Unrecognized federal and state tax benefits resulting from the exercise of NSOs		0	0
Net unrecognized tax benefits		461,000	455,000	400,000
Interest and penalties associated with unrecognized tax benefits		42,000	104,000	150,000
Interest and penalties accrued		213,000	215,000
State and Local Jurisdiction [Member]
Operating Loss Carryforwards [Line Items]
State NOL carryforwards		200,000	700,000	2,200,000
Remaining state tax NOL carryforwards		8,000,000
Portion of state NOL carryforwards, not able to be utilized before expiration		6,900,000	6,100,000	7,100,000
Federal benefit		$ 300,000	$ 300,000	$ 400,000

Commitments and Contingencies (Details) $ in Thousands	Dec. 31, 2011 USD ($)
Capital Leases
Capital Leases, 2012	$ 412
Capital Leases, 2013	349
Capital Leases, 2014	36
Capital Leases, 2015	0
Capital Leases, 2016	0
Capital Leases, Thereafter	0
Capital Leases, Total minimum lease payments	797
Capital Leases, Less amounts representing interest	48
Capital Leases, Present value of minimum lease payments included in long-term debt	749
Operating Leases
Operating Leases, 2012	5,635
Operating Leases, 2013	4,585
Operating Leases, 2014	3,453
Operating Leases, 2015	1,554
Operating Leases, 2016	1,127
Operating Leases, Thereafter	3,913
Operating Leases, Total minimum lease payments	20,267
Total Capital and Operating Leases, 2012	6,047
Total Capital and Operating Leases, 2013	4,934
Total Capital and Operating Leases, 2014	3,489
Total Capital and Operating Leases, 2015	1,554
Total Capital and Operating Leases, 2016	1,127
Total Capital and Operating Leases, Thereafter	3,913
Total Capital and Operating Leases, minimum lease payments	$ 21,064

Commitments and Contingencies (Details Textual)	1 Months Ended			12 Months Ended
Commitments and Contingencies (Details Textual)	May 31, 2008 USD ($)	Jul. 31, 2007 shares	Nov. 30, 2006 shares	Dec. 31, 2011 USD ($) Entity Plant T $ / shares	Dec. 31, 2010 USD ($)	Dec. 31, 2009 USD ($)	Jun. 30, 2011 USD ($)	Dec. 31, 2007 shares
Segment Reporting Information [Line Items]
Current portion of accrued and other liabilities				$ 28,677,000	$ 31,507,000
Customer advances and deposits				$ 4,500,000
No. of nitric acid affected plant \| Plant				9
Commitments and Contingencies (Textual) [Abstract]
Expenses incurred in operating lease agreements				$ 7,773,000	$ 6,079,000	$ 8,584,000
Term of purchase commitment				P5Y
Purchase commitments of natural gas in mmbtu				$ 3,000,000
Weighted average cost of natural gas per mmbtu \| $ / shares				3.62
Total cost of natural gas in mmbtu				$ 10,900,000
Total market value of natural gas in mmbtu				$ 9,200,000
Weighted average market value of natural gas per mmbtu \| $ / shares				3.06
Total market value of natural gas in mmbtu				$ 9,200,000
Outstanding letters of credit				1,900,000
Indemnify the sureties for payments				12,200,000
Maximum amount of securities can be sold under shelf registration statement				200,000,000
Payments under employment and severance agreements				12,600,000
Asset retirement obligations				75,000
Penalty related to discharge water permit							$ 124,000
Liability relating to discharge water permit				124,000
Capital cost in connection with construction of pipeline				4,000,000
Capitalized cost of construction of pipeline				500,000
Estimated share of the annual operating cost of pipeline, minimum				100,000
Estimated share of the annual operating cost of pipeline, maximum				150,000
Jayhawk Group's offer to settle litigation	$ 100,000
Cumulative Jayhawk litigation expense				250,000
Product liability				0
Estimated cost of additional remediation				100,000
Estimated EPA civil penalty liability				100,000
Insurance Claims [Member]
Segment Reporting Information [Line Items]
Accrued general liability insurance claims				739,000
Hallowell Facility [Member]
Segment Reporting Information [Line Items]
Current portion of accrued and other liabilities				$ 105,000
Number of subsidiaries under chemical business that sold their operating assets \| Entity				2
Orica International [Member]
Segment Reporting Information [Line Items]
Current purchase agreement quantity with Orica International \| T				240,000
Climate Control Business [Member]
Segment Reporting Information [Line Items]
Customer advances and deposits				$ 300,000
Product liability deductible per claim				250,000
Chemical Business [Member]
Segment Reporting Information [Line Items]
Customer advances and deposits				$ 3,800,000
Renewal period for discharge water permit				5 years
Maximum penalty amount per day under Clean Air Act				$ 27,500
Class C Preferred Stock [Member]
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Class C Series 2 preferred stock \| $ / shares				$ 3.25
Maximum number of shares to be received under agreement \| shares			180,450
Total number of shares held by Jayhawk Group \| shares			340,900
Number of common shares for each convertible preferred stock \| shares								7.4
Common stock issued on conversion \| shares		4.329
Jayhawk Group asserted damage claim relating to preferred				$ 12,000,000
Month purchase commitment period ends for natural gas				Aug. 01, 2012

Derivatives, Hedges, Financial Instruments and Carbon Credits (Details) - USD ($) $ in Thousands	Dec. 31, 2011	Dec. 31, 2010
Liabilities - Current and noncurrent accrued and other liabilities:
Total	$ 2,283	$ 2,539
Recurring [Member]
Assets - Supplies, prepaid items and other:
Total	53	1,454
Liabilities - Current and noncurrent accrued and other liabilities:
Total	2,283	2,539
Recurring [Member] \| Commodities Contracts [Member]
Assets - Supplies, prepaid items and other:
Derivative Assets	11	761
Recurring [Member] \| Carbon Credits [Member]
Assets - Supplies, prepaid items and other:
Carbon credits	42	644
Liabilities - Current and noncurrent accrued and other liabilities:
Contractual obligations - carbon credits	42	644
Recurring [Member] \| Foreign Exchange Contracts [Member]
Assets - Supplies, prepaid items and other:
Derivative Assets	0	49
Recurring [Member] \| Interest Rate Contracts [Member]
Liabilities - Current and noncurrent accrued and other liabilities:
Derivative Financial Instruments, Liabilities	2,241	$ 1,895
Recurring [Member] \| Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Assets - Supplies, prepaid items and other:
Total	11
Liabilities - Current and noncurrent accrued and other liabilities:
Total	0
Recurring [Member] \| Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] \| Commodities Contracts [Member]
Assets - Supplies, prepaid items and other:
Derivative Assets	11
Recurring [Member] \| Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] \| Carbon Credits [Member]
Assets - Supplies, prepaid items and other:
Carbon credits	0
Liabilities - Current and noncurrent accrued and other liabilities:
Contractual obligations - carbon credits	0
Recurring [Member] \| Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] \| Foreign Exchange Contracts [Member]
Assets - Supplies, prepaid items and other:
Derivative Assets	0
Recurring [Member] \| Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] \| Interest Rate Contracts [Member]
Liabilities - Current and noncurrent accrued and other liabilities:
Derivative Financial Instruments, Liabilities	0
Recurring [Member] \| Significant Other Observable Inputs (Level 2) [Member]
Assets - Supplies, prepaid items and other:
Total	0
Liabilities - Current and noncurrent accrued and other liabilities:
Total	2,241
Recurring [Member] \| Significant Other Observable Inputs (Level 2) [Member] \| Commodities Contracts [Member]
Assets - Supplies, prepaid items and other:
Derivative Assets	0
Recurring [Member] \| Significant Other Observable Inputs (Level 2) [Member] \| Carbon Credits [Member]
Assets - Supplies, prepaid items and other:
Carbon credits	0
Liabilities - Current and noncurrent accrued and other liabilities:
Contractual obligations - carbon credits	0
Recurring [Member] \| Significant Other Observable Inputs (Level 2) [Member] \| Foreign Exchange Contracts [Member]
Assets - Supplies, prepaid items and other:
Derivative Assets	0
Recurring [Member] \| Significant Other Observable Inputs (Level 2) [Member] \| Interest Rate Contracts [Member]
Liabilities - Current and noncurrent accrued and other liabilities:
Derivative Financial Instruments, Liabilities	2,241
Recurring [Member] \| Significant Unobservable Inputs (Level 3) [Member]
Assets - Supplies, prepaid items and other:
Total	42
Liabilities - Current and noncurrent accrued and other liabilities:
Total	42
Recurring [Member] \| Significant Unobservable Inputs (Level 3) [Member] \| Commodities Contracts [Member]
Assets - Supplies, prepaid items and other:
Derivative Assets	0
Recurring [Member] \| Significant Unobservable Inputs (Level 3) [Member] \| Carbon Credits [Member]
Assets - Supplies, prepaid items and other:
Carbon credits	42
Liabilities - Current and noncurrent accrued and other liabilities:
Contractual obligations - carbon credits	42
Recurring [Member] \| Significant Unobservable Inputs (Level 3) [Member] \| Foreign Exchange Contracts [Member]
Assets - Supplies, prepaid items and other:
Derivative Assets	0
Recurring [Member] \| Significant Unobservable Inputs (Level 3) [Member] \| Interest Rate Contracts [Member]
Liabilities - Current and noncurrent accrued and other liabilities:
Derivative Financial Instruments, Liabilities	$ 0

Derivatives, Hedges, Financial Instruments and Carbon Credits (Details 1) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Assets
Beginning balance	$ 644	$ 0	$ 0
Transfers into Level 3	0	0	0
Transfers out of Level 3	0	0	0
Total realized and unrealized gains (losses) included in earnings	1,995	644	0
Purchases	0	0	0
Issuances	0	0	0
Sales	(2,597)	0	0
Settlements	0	0	0
Ending balance	42	644	0
Liabilities
Beginning balance	(644)	0	(1,388)
Transfers into Level 3	0	0	0
Transfers out of Level 3	0	0	0
Total realized and unrealized gains (losses) included in earnings	(1,844)	(644)	493
Purchases	0	0	0
Issuances	0	0	0
Sales	0	0	0
Settlements	2,446	0	895
Ending balance	$ (42)	$ (644)	$ 0

Derivatives, Hedges, Financial Instruments and Carbon Credits (Details 2) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Total net gains (losses) included in earnings:
Derivative instruments and carbon credits, gains and losses recognized in earnings	$ (2,251)	$ (1,561)	$ (2,073)
Derivative instruments and carbon credits change in unrealized gains and losses recognized in earnings	(335)	844	646
Cost of Sales [Member] \| Commodities Contracts [Member]
Total net gains (losses) included in earnings:
Derivative instruments and carbon credits, gains and losses recognized in earnings	523	(59)	(1,312)
Derivative instruments and carbon credits change in unrealized gains and losses recognized in earnings	11	761	138
Cost of Sales [Member] \| Foreign Exchange Contracts [Member]
Total net gains (losses) included in earnings:
Derivative instruments and carbon credits, gains and losses recognized in earnings	46	25	(32)
Derivative instruments and carbon credits change in unrealized gains and losses recognized in earnings		49
Other Income [Member] \| Carbon Credits [Member]
Total net gains (losses) included in earnings:
Derivative instruments and carbon credits, gains and losses recognized in earnings	1,995	644
Derivative instruments and carbon credits change in unrealized gains and losses recognized in earnings	42	644
Other Expense [Member] \| Contractual obligations relating to carbon credits [Member]
Total net gains (losses) included in earnings:
Derivative instruments and carbon credits, gains and losses recognized in earnings	(1,844)	(644)
Derivative instruments and carbon credits change in unrealized gains and losses recognized in earnings	(42)	(644)
Interest Expense [Member] \| Interest Rate Contracts [Member]
Total net gains (losses) included in earnings:
Derivative instruments and carbon credits, gains and losses recognized in earnings	(1,925)	(1,527)	(729)
Derivative instruments and carbon credits change in unrealized gains and losses recognized in earnings	$ (346)	$ 34	$ 508

Derivatives, Hedges, Financial Instruments and Carbon Credits (Details 3) - USD ($) $ in Thousands	Dec. 31, 2011	Dec. 31, 2010
The estimated fair value and carrying value of long-term debt
Long-term Debt, Percentage Bearing Variable Interest, Carrying Value	$ 48,125
Long-term Debt, Percentage Bearing Fixed Interest, Carrying Value	24,063
Long-term Debt, Estimated Fair Value	79,399	$ 74,385
Long-term Debt, Carrying Value	79,460	95,392
Secured Term Loan due 2012 [Member]
The estimated fair value and carrying value of long-term debt
Long-term Debt, Percentage Bearing Variable Interest, Estimated Fair Value	72,188	26,721
Long-term Debt, Percentage Bearing Variable Interest, Carrying Value	72,188	48,773
Long-term Debt, Carrying Value	72,188	48,773
Working Capital Revolver Loan due 2012 [Member]
The estimated fair value and carrying value of long-term debt
Long-term Debt, Percentage Bearing Variable Interest, Estimated Fair Value	0	0
Long-term Debt, Percentage Bearing Variable Interest, Carrying Value	0	0
Long-term Debt, Carrying Value	0	0
Other debt [Member]
The estimated fair value and carrying value of long-term debt
Long-term Debt, Percentage Bearing Variable Interest, Estimated Fair Value	0	2,437
Long-term Debt, Percentage Bearing Variable Interest, Carrying Value	0	2,437
Long-term Debt, Carrying Value	7,272	19,719
5.5% Convertible Senior Subordinated Notes due 2012 [Member]
The estimated fair value and carrying value of long-term debt
Long-term Debt, Percentage Bearing Fixed Interest, Estimated Fair Value	0	27,976
Long-term Debt, Percentage Bearing Fixed Interest, Carrying Value	0	26,900
Long-term Debt, Carrying Value	0	26,900
Other bank debt and equipment financing [Member]
The estimated fair value and carrying value of long-term debt
Long-term Debt, Percentage Bearing Fixed Interest, Estimated Fair Value	7,211	17,251
Long-term Debt, Percentage Bearing Fixed Interest, Carrying Value	$ 7,272	$ 17,282

Derivatives, Hedges, Financial Instruments and Carbon Credits (Details Textual)	1 Months Ended			12 Months Ended
	Feb. 28, 2011 USD ($)	Sep. 30, 2008 USD ($)	Apr. 30, 2008 USD ($)	Dec. 31, 2011 USD ($)	Dec. 31, 2010 USD ($)	Dec. 30, 1999	Dec. 31, 2011 EUR (€) MMBTU lb	Dec. 31, 2011 USD ($) MMBTU lb	Dec. 31, 2010 EUR (€) MMBTU t lb	Dec. 31, 2010 USD ($) MMBTU t lb	Dec. 31, 2009 USD ($)	Dec. 31, 2008 USD ($)	Dec. 31, 1999 USD ($)
Derivatives, Hedges, Financial Instruments and Carbon Credits (Textual) [Abstract]
Foreign exchange contracts Weighted average exchange rate							0.00	0.00	1.26	1.26
Contractual weighted average pay rate				3.27%
Estimated market weighted average receive rate				0.99%
Carbon credit fair value per unit								$ 3.15		$ 3.25
Carbon credit lower range of ask or bid price				$ 1.00	$ 3.00
Carbon credit higher range of ask or bid price				$ 3.00	$ 5.00
Future or forward copper contract period				May 2012	May 2011
Derivative future or forward contract in Pounds \| lb							375,000	375,000	750,000	750,000
Weighted average cost per pound of future or forward copper contract				$ 3.42	$ 3.75
Weighted average cost per MMBtu of future or forward natural gas contracts				0	$ 4.10
Derivative future or forward gas contract in MMBtu \| MMBTU							0	0	800,000	800,000
Foreign Exchange contract payment \| €							€ 0		€ 783,000
Foreign Exchange contracts receipt								$ 0	€ 110,000
The month foreign exchange contract receipt period ends					June 2011
The month foreign exchange contract payment period ends					March 2011
Interest rate contracts fixed rate description	fixed three-month LIBOR rate of 3.23% on a declining balance	LIBOR rate of 3.595% on $25 million	Fixed three-month LIBOR rate of 3.24% on $25 million
Interest rate contracts LIBOR rate		3.595%	3.24%
Notional amount of Interest rate contracts		$ 25,000,000	$ 25,000,000
Maturity period interest rate contract held							April, 2012	April, 2012
Basis for estimated fair value of secured term loan					LIBOR rates plus 6%
Initial lease term of long-term lease agreement						10 years
Termination cost of forward agreement													$ 2,800,000
Amortization of a cash flow hedge								$ 0		$ 0	$ 120,000
Interest rate swap	$ 0
LIBOR rate	3.23%
Notional Amount of Interest Rate Derivatives	$ 23,800,000
Interest rate swap declining balance ending balance	$ 18,800,000
Assets or liabilities measured at fair value on a recurring basis transferred between Level 1 and Level 2 classifications				$ 0
The month future or forward natural gas contract period ends					February 2011
Secured Term Loan due 2012 [Member]
Derivative Financial Instruments and Carbon Credit Gain Loss [Line Items]
Debt instrument, interest rate							5.15%	5.15%
Debt instrument principal amount								$ 24,100,000
Other debt [Member]
Derivative Financial Instruments and Carbon Credit Gain Loss [Line Items]
Debt instrument, interest rate									6.00%	6.00%
Variable interest rate, Minimum					6.00%
Interest Rate Swap [Member]
Derivative Financial Instruments and Carbon Credit Gain Loss [Line Items]
Interest rate contracts at cost basis												$ 400,000
Carbon Credits [Member]
Derivative Financial Instruments and Carbon Credit Gain Loss [Line Items]
Carbon credits subject to contractual obligations \| t									198,000	198,000

Stockholders' Equity (Details)	12 Months Ended
Stockholders' Equity (Details)	Dec. 31, 2011 USD ($) yr $ / shares shares	Dec. 31, 2010 USD ($) yr	Dec. 31, 2009 USD ($) yr
Valuation assumptions of granted stock options
Weighted-average risk-free interest rate	1.21%
Dividend yield	0.00%
Weighted-average expected volatility	48.59%
Total weighted-average expected forfeiture rate	2.97%
Weighted-average expected life (years) \| yr	5.90
Total weighted-average remaining vesting period in years \| yr	4.30	4.57	5.60
Total fair value of options granted \| $ / shares	$ 4,064,000
Stock-based compensation expense - Cost of Sales \| $	$ 60,000	$ 42,000	$ 44,000
Stock-based compensation expense - SG&A \| $	1,039,000	963,000	977,000
Income tax benefit \| $	$ (390,000)	$ (402,000)	$ (408,000)
2008 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum number of securities for issuance	1,000,000
Number of awards available to be granted	344,370
Number of qualified options outstanding	505,330
Number of qualified options exercisable	78,065
1998 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of qualified options outstanding	11,000
Number of qualified options exercisable	11,000

Stockholders' Equity (Details 1) - USD ($)	12 Months Ended
Stockholders' Equity (Details 1) - USD ($)	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Qualified Stock Option Plans [Member]
Stock option activities of qualified stock option plans
Stock option outstanding at beginning of year, shares	389,026
Number of shares of stock options granted	249,000
Exercise of stock options, shares	(114,996)
Stock option cancelled, forfeited or expired, shares	(6,700)
Stock option, outstanding at end of year, shares	516,330	389,026
Stock option exercisable at end of year, shares	89,065
Stock option outstanding at beginning of year, weighted-average exercise price	$ 8.41
Stock option granted, weighted-average exercise price	34.41
Stock option exercised, weighted-average exercise price	6.54
Stock option cancelled, forfeited or expired, weighted-average exercise price	9.69
Stock option, outstanding at end of year, weighted-average exercise price	21.34	$ 8.41
Stock option exercisable at end of year, weighted-average exercise price	8.85
Weighted-average fair value per options granted during year	$ 16.00
Total intrinsic value of options exercised during the year	$ 3,294,000	$ 441,000	$ 3,051,000
Total fair value of options vested during the year	$ 208,000	$ 214,000	220,000
Non-Qualified Stock Option Plans [Member]
Stock option activities of qualified stock option plans
Stock option outstanding at beginning of year, shares	374,600
Number of shares of stock options granted	5,000
Exercise of stock options, shares	(63,075)
Stock option cancelled, forfeited or expired, shares	0
Stock option, outstanding at end of year, shares	316,525	374,600
Stock option exercisable at end of year, shares	66,325
Stock option outstanding at beginning of year, weighted-average exercise price	$ 7.83
Stock option granted, weighted-average exercise price	34.50
Stock option exercised, weighted-average exercise price	7.05
Stock option cancelled, forfeited or expired, weighted-average exercise price	0.00
Stock option, outstanding at end of year, weighted-average exercise price	8.41	$ 7.83
Stock option exercisable at end of year, weighted-average exercise price	7.97
Weighted-average fair value per options granted during year	$ 16.25
Total intrinsic value of options exercised during the year	$ 2,110,000	$ 805,000	2,201,000
Total fair value of options vested during the year	$ 730,000	$ 721,000	$ 721,000

Stockholders' Equity (Details 2)	12 Months Ended
Stockholders' Equity (Details 2)	Dec. 31, 2011 USD ($) yr $ / shares shares
Qualified Stock Option Plans [Member] \| Range Of Exercise Prices One [Member]
Share based compensation shares authorized under stock option plans exercise price range
Exercise prices, lower range	$ 5.10
Stock Options Outstanding, Shares Outstanding \| shares	11,000
Stock Options Outstanding, Weighted - Average Remaining Contractual Life in Years \| yr	3.92
Stock Options Outstanding, Weighted - Average Exercise Price	$ 5.10
Stock Options, Intrinsic Value of Shares Outstanding \| $	$ 252,000
Stock Options Exercisable, Shares Exercisable \| shares	11,000
Stock Options Exercisable, Weighted- Average Remaining Contractual Life in Years \| yr	3.92
Stock Options Exercisable, Weighted - Average Exercise Price	$ 5.10
Stock Options, Intrinsic Value of Shares Exercisable \| $	$ 252,000
Qualified Stock Option Plans [Member] \| Range Of Exercise Prices Two [Member]
Share based compensation shares authorized under stock option plans exercise price range
Exercise prices, lower range	$ 7.86
Exercise prices, upper range	$ 8.17
Stock Options Outstanding, Shares Outstanding \| shares	48,375
Stock Options Outstanding, Weighted - Average Remaining Contractual Life in Years \| yr	6.95
Stock Options Outstanding, Weighted - Average Exercise Price	$ 7.87
Stock Options, Intrinsic Value of Shares Outstanding \| $	$ 976,000
Stock Options Exercisable, Shares Exercisable \| shares	13,530
Stock Options Exercisable, Weighted- Average Remaining Contractual Life in Years \| yr	6.94
Stock Options Exercisable, Weighted - Average Exercise Price	$ 7.87
Stock Options, Intrinsic Value of Shares Exercisable \| $	$ 273,000
Qualified Stock Option Plans [Member] \| Range Of Exercise Prices Three [Member]
Share based compensation shares authorized under stock option plans exercise price range
Exercise prices, lower range	$ 9.69
Exercise prices, upper range	$ 9.97
Stock Options Outstanding, Shares Outstanding \| shares	207,955
Stock Options Outstanding, Weighted - Average Remaining Contractual Life in Years \| yr	6.83
Stock Options Outstanding, Weighted - Average Exercise Price	$ 9.69
Stock Options, Intrinsic Value of Shares Outstanding \| $	$ 3,813,000
Stock Options Exercisable, Shares Exercisable \| shares	64,535
Stock Options Exercisable, Weighted- Average Remaining Contractual Life in Years \| yr	6.83
Stock Options Exercisable, Weighted - Average Exercise Price	$ 9.69
Stock Options, Intrinsic Value of Shares Exercisable \| $	$ 1,184,000
Qualified Stock Option Plans [Member] \| Range Of Exercise Prices Four [Member]
Share based compensation shares authorized under stock option plans exercise price range
Exercise prices, lower range	$ 29.99
Exercise prices, upper range	$ 34.50
Stock Options Outstanding, Shares Outstanding \| shares	249,000
Stock Options Outstanding, Weighted - Average Remaining Contractual Life in Years \| yr	9.90
Stock Options Outstanding, Weighted - Average Exercise Price	$ 34.41
Stock Options, Intrinsic Value of Shares Outstanding \| $	$ 0
Stock Options Exercisable, Shares Exercisable \| shares	0
Stock Options Exercisable, Weighted- Average Remaining Contractual Life in Years \| yr	0.00
Stock Options Exercisable, Weighted - Average Exercise Price	$ 0.00
Stock Options, Intrinsic Value of Shares Exercisable \| $	$ 0
Qualified Stock Option Plans [Member] \| Range Of Exercise Prices Five [Member]
Share based compensation shares authorized under stock option plans exercise price range
Exercise prices, lower range	$ 5.10
Exercise prices, upper range	$ 34.50
Stock Options Outstanding, Shares Outstanding \| shares	516,330
Stock Options Outstanding, Weighted - Average Remaining Contractual Life in Years \| yr	8.26
Stock Options Outstanding, Weighted - Average Exercise Price	$ 21.34
Stock Options, Intrinsic Value of Shares Outstanding \| $	$ 5,041,000
Stock Options Exercisable, Shares Exercisable \| shares	89,065
Stock Options Exercisable, Weighted- Average Remaining Contractual Life in Years \| yr	6.49
Stock Options Exercisable, Weighted - Average Exercise Price	$ 8.85
Stock Options, Intrinsic Value of Shares Exercisable \| $	$ 1,709,000
Non-Qualified Stock Option Plans [Member] \| Range Of Exercise Prices One [Member]
Share based compensation shares authorized under stock option plans exercise price range
Exercise prices, lower range	$ 7.86
Stock Options Outstanding, Shares Outstanding \| shares	36,525
Stock Options Outstanding, Weighted - Average Remaining Contractual Life in Years \| yr	6.92
Stock Options Outstanding, Weighted - Average Exercise Price	$ 7.86
Stock Options, Intrinsic Value of Shares Outstanding \| $	$ 737,000
Stock Options Exercisable, Shares Exercisable \| shares	16,325
Stock Options Exercisable, Weighted- Average Remaining Contractual Life in Years \| yr	6.92
Stock Options Exercisable, Weighted - Average Exercise Price	$ 7.86
Stock Options, Intrinsic Value of Shares Exercisable \| $	$ 329,000
Non-Qualified Stock Option Plans [Member] \| Range Of Exercise Prices Two [Member]
Share based compensation shares authorized under stock option plans exercise price range
Exercise prices, lower range	$ 8.01
Stock Options Outstanding, Shares Outstanding \| shares	275,000
Stock Options Outstanding, Weighted - Average Remaining Contractual Life in Years \| yr	4.75
Stock Options Outstanding, Weighted - Average Exercise Price	$ 8.01
Stock Options, Intrinsic Value of Shares Outstanding \| $	$ 5,505,000
Stock Options Exercisable, Shares Exercisable \| shares	50,000
Stock Options Exercisable, Weighted- Average Remaining Contractual Life in Years \| yr	4.75
Stock Options Exercisable, Weighted - Average Exercise Price	$ 8.01
Stock Options, Intrinsic Value of Shares Exercisable \| $	$ 1,001,000
Non-Qualified Stock Option Plans [Member] \| Range Of Exercise Prices Three [Member]
Share based compensation shares authorized under stock option plans exercise price range
Exercise prices, lower range	$ 34.50
Stock Options Outstanding, Shares Outstanding \| shares	5,000
Stock Options Outstanding, Weighted - Average Remaining Contractual Life in Years \| yr	9.92
Stock Options Outstanding, Weighted - Average Exercise Price	$ 34.50
Stock Options, Intrinsic Value of Shares Outstanding \| $	$ 0
Stock Options Exercisable, Shares Exercisable \| shares	0
Stock Options Exercisable, Weighted- Average Remaining Contractual Life in Years \| yr	0.00
Stock Options Exercisable, Weighted - Average Exercise Price	$ 0.00
Stock Options, Intrinsic Value of Shares Exercisable \| $	$ 0
Non-Qualified Stock Option Plans [Member] \| Range Of Exercise Prices Four [Member]
Share based compensation shares authorized under stock option plans exercise price range
Exercise prices, lower range	$ 7.86
Exercise prices, upper range	$ 34.50
Stock Options Outstanding, Shares Outstanding \| shares	316,525
Stock Options Outstanding, Weighted - Average Remaining Contractual Life in Years \| yr	5.08
Stock Options Outstanding, Weighted - Average Exercise Price	$ 8.41
Stock Options, Intrinsic Value of Shares Outstanding \| $	$ 6,242,000
Stock Options Exercisable, Shares Exercisable \| shares	66,325
Stock Options Exercisable, Weighted- Average Remaining Contractual Life in Years \| yr	5.28
Stock Options Exercisable, Weighted - Average Exercise Price	$ 7.97
Stock Options, Intrinsic Value of Shares Exercisable \| $	$ 1,330,000

Stockholders' Equity (Details Textual) - USD ($)	12 Months Ended
Stockholders' Equity (Details Textual) - USD ($)	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009	Jun. 14, 2007
Stockholders' Equity (Textual) [Abstract]
Date of approval of stock incentive plan	Jun. 05, 2008
Term of historical volatility of common stock	6 years
Qualified Stock Option Plans [Member]
Stockholders' Equity (Textual) [Abstract]
Stock option plans, options outstanding	516,330	389,026
Exercise price of Options	$ 8.85
Non-Qualified Stock Option Plans [Member]
Stockholders' Equity (Textual) [Abstract]
Stock option plans, options outstanding	316,525	374,600
Exercise price of Options	$ 7.97
Preferred Share Rights Plan [Member]
Stockholders' Equity (Textual) [Abstract]
Minimum percentage of ownership of common stock required to exercise preferred share rights	15.00%
Series 4 Junior participating preferred stock
Exercise price of preferred Stock	47.75 per one one-hundredth of a share
Preferred share right plan description	If a person or group acquires 15% or more of our common stock, each Right will entitle the holder (other than the person or group that triggered the Rights being exercisable) to purchase shares of our common stock (or, in certain circumstances, cash or other securities) having a market value of twice the exercise price of a Right at such time
Redemption price preferred share rights	$ 0.01
Maximum time for redemption after the Rights become exercisable	10 days
Preferred share right exchange ratio	one common share per Right
Minimum percentage of beneficial ownership of common stock to end preferred share rights exchange	Until the person triggering the Rights becomes the benefical owner of 50% or more of the entity's common stock.
Other [Member]
Stockholders' Equity (Textual) [Abstract]
Number of shares of treasury stock purchased	0	177,100	275,900
Average price of treasury stock	$ 0.00	$ 13.67	$ 11.60
Number of shares converted	1,800,000
2008 Plan [Member]
Stockholders' Equity (Textual) [Abstract]
Minimum exercise price of stock option at grant date	no less than 100% of fair market value at the grant date
Percentage of fair market value	100.00%
Maximum term of stock options	10 years
Qualified and non qualified options vest at a percentage rate for first 5 years	16.50%
Qualified and non qualified options final year vesting	End of the sixth year
Exercisable period Non-qualified option following termination event	Fully vested and excersable for period of one year from the date of the termination event
Exercisable period after termination	1 year
Total stock based compensation expense not yet recognized, relating to non-vested stock options	$ 7,931,000
Stock option plans, options outstanding	505,330
Stock options available for grant	344,370
Number of common stock shares for issuance	1,000,000
2008 Plan [Member] \| Qualified Stock Option Plans [Member]
Stockholders' Equity (Textual) [Abstract]
Number of common stock shares for issuance	249,000
2008 Plan [Member] \| Non-Qualified Stock Option Plans [Member]
Stockholders' Equity (Textual) [Abstract]
Stock option plans, options outstanding	41,525
Number of common stock shares for issuance	5,000
Stock Options Exercisable, Shares Exercisable	16,325
1998 Plan [Member]
Stockholders' Equity (Textual) [Abstract]
Stock option plans, options outstanding	11,000
2006 Options [Member] \| Non-Qualified Stock Option Plans [Member]
Stockholders' Equity (Textual) [Abstract]
Number of common stock shares for issuance				450,000
Exercise price of Options				$ 8.01
Outside Director Plan [Member] \| Non-Qualified Stock Option Plans [Member]
Stockholders' Equity (Textual) [Abstract]
Stock option plans, options outstanding	0
Stock options available for grant	280,000
Number of common stock shares for issuance	400,000

Non - Redeemable Preferred Stock (Details) - USD ($)	12 Months Ended
Non - Redeemable Preferred Stock (Details) - USD ($)	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Non - Redeemable Preferred Stock (Textual) (Abstract)
Cash dividends paid on non-redeemable preferred stock	$ 305,000	$ 305,000	$ 306,000
Series B Preferred stock [Member]
Non - Redeemable Preferred Stock (Textual) (Abstract)
Preferred stock, shares outstanding	20,000	20,000
Number of cumulative convertible preferred stock	20,000	20,000
Preferred stock, par value	$ 100	$ 100
Preferred shares' annual cumulative dividends	12.00%	12.00%
Preferred stock converted into shares of common stock	666,666
Number of shares of common stock for each share of converted preferred stock	33.3333 shares of common stock for each share of preferred stock
Cash dividends paid on non-redeemable preferred stock	$ 240,000	$ 240,000	$ 240,000
Cash dividends paid on non-redeemable preferred stock per share	$ 12.00	$ 12.00	$ 12.00
Shares of authorized additional preferred stock	229,539
Series D Preferred stock
Non - Redeemable Preferred Stock (Textual) (Abstract)
Preferred stock, shares outstanding	1,000,000	1,000,000
Number of cumulative convertible preferred stock	1,000,000	1,000,000
Preferred stock, par value
Preferred shares' annual cumulative dividends	6.00%	6.00%
Preferred stock converted into shares of common stock	250,000
Number of shares of common stock for each share of converted preferred stock	1 share of common stock for 4 shares of preferred stock
Liquidation preference of Series D preferred stock	$ 1.00
Votes per share for Series D preferred share holder	0.875 votes per share
Cash dividends paid on non-redeemable preferred stock	$ 60,000	$ 60,000	$ 60,000
Cash dividends paid on non-redeemable preferred stock per share	$ 0.06	$ 0.06	$ 0.06
Shares of authorized additional preferred stock	4,000,000
No par value of authorized additional preferred stock
Non-Redeemable Preferred Stock [Member]
Non - Redeemable Preferred Stock (Textual) (Abstract)
Dividends in arrears	$ 0

Executive Benefit Agreements and Employee Savings Plans (Details) - USD ($) $ in Thousands	Dec. 31, 2011	Dec. 31, 2010
Death Benefit Agreement [Line Items]
Accrued death benefits - All agreements	$ 4,017	$ 4,058
Total undiscounted executive benefits - 1992 Agreements	$ 1,950	$ 1,963
Discount rates utilized - 1992 Agreements	3.58%	4.17%
Accrued executive benefits - 1992 Agreements	$ 1,262	$ 1,187
Death Benefit 1981 Agreements [Member]
Death Benefit Agreement [Line Items]
Undiscounted death benefits	4,115	4,115
Death Benefit 1992 Agreements [Member]
Death Benefit Agreement [Line Items]
Undiscounted death benefits	302	302
Death Benefit 2005 Agreement [Member]
Death Benefit Agreement [Line Items]
Undiscounted death benefits	$ 2,500	$ 2,500

Executive Benefit Agreements and Employee Savings Plans (Details 1) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Executive benefit expenses
Executive benefit costs	$ 158	$ 169	$ 75

Executive Benefit Agreements and Employee Savings Plans (Details 2) - USD ($) $ in Thousands	Dec. 31, 2011	Dec. 31, 2010
Life Insurance Policies
Total face value of life insurance policies	$ 21,522	$ 21,522
Cash surrender values of life insurance policies	4,961	4,461
Loans on cash surrender values	(1,890)	(1,844)
Net cash surrender values	$ 3,071	$ 2,617

- Definition

This item represents the amount that could be realized under a life insurance contract or contracts owned by the Entity as of the date of the statement of financial position. Such Entity-owned life insurance policies are commonly known as corporate-owned life insurance (COLI) or bank-owned life insurance (BOLI).

+ References + Details

Executive Benefit Agreements and Employee Savings Plans (Details 3) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Life Insurance Premiums
Cost of life insurance premiums	$ 851	$ 851	$ 842
Increases in cash surrender values	(499)	(496)	(494)
Net cost of life insurance premiums included in SG&A	$ 352	$ 355	$ 348

Executive Benefit Agreements and Employee Savings Plans (Details Textual)	12 Months Ended
	Dec. 31, 2011 USD ($) Installment	Dec. 31, 2010 USD ($)
Executive Benefit Agreements and Employee Savings Plans (Textual) [Abstract]
Face value of life insurance policies for CEO	$ 21,522,000	$ 21,522,000
Death Benefit 1981 Agreements [Member]
Executive Benefit Agreements and Employee Savings Plans (Textual) [Abstract]
Number of equal monthly installments to be paid to the beneficiary under Agreements \| Installment	120
Total monthly installments under 1981 Agreements	$ 34,000
Death Benefit 1992 Agreements [Member]
Executive Benefit Agreements and Employee Savings Plans (Textual) [Abstract]
Number of equal monthly installments to be paid to the beneficiary under Agreements \| Installment	120
Minimum amount payable in monthly installments when the employee reaches age 65 under 1992 Agreements	$ 16,000
Maximum amount payable in monthly installments when the employee reaches age 65 under 1992 Agreements	18,000
Death Benefit 2005 Agreement [Member]
Executive Benefit Agreements and Employee Savings Plans (Textual) [Abstract]
Amount paid to CEO's designated beneficiary under 2005 Agreement	2,500,000
Minimum amount of life insurance policies to be kept by the company for 2005 Agreement	2,500,000
Face value of life insurance policies for CEO	$ 7,000,000

Business Interruption Insurance Claim and Recovery (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2011 USD ($)
Insurance Claims and Recoveries (Textual) [Abstract]
Waiting period for business interruption coverage	30 days
Gain on business interruption insurance recovery	$ 8,605,000

Other Expense, Other Income and Non-Operating Other Income, net (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Other expense:
Realized and unrealized losses on contractual obligations associated with carbon credits	$ 1,844	$ 644
Losses on sales and disposals of property and equipment	1,280	460	$ 378
Miscellaneous expense, operating	699	158	149
Total other expense	3,823	1,262	527
Other Operating Income
Realized and unrealized gains on carbon credits	1,995	644
Settlements of litigation and potential litigation	1,562		50
Property insurance recoveries in excess of losses incurred		7,518
Miscellaneous Income, Operating	381	265	237
Total other income	3,938	8,427	287
Non-operating other income, net:
Interest income	77	133	216
Miscellaneous income, Non-Operating			1
Miscellaneous expense, Non-Operating	$ (77)	(80)	(87)
Total non-operating other income, net		$ 53	$ 130

Segment Information (Details) - USD ($) $ in Thousands	12 Months Ended
Segment Information (Details) - USD ($) $ in Thousands	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Segment Financial Information
Net sales	$ 805,256	$ 609,905	$ 531,838
Gross profit	223,018	138,625	137,414
Total operating income	136,443	55,925	40,710
Interest expense	(6,658)	(7,427)	(6,746)
Gain (losses) on extinguishment of debt	(136)	(52)	1,783
Non-operating income (expense), net		53	130
Provisions for income taxes	(46,208)	(19,787)	(15,024)
Equity in earnings of affiliate - Climate Control	543	1,003	996
Income from continuing operations	83,984	29,715	21,849
Climate Control [Member]
Segment Financial Information
Net sales	281,565	250,521	266,169
Gross profit	88,178	86,364	92,409
Total operating income	32,759	35,338	37,706
Non-operating income (expense), net	2	3	8
Climate Control [Member] \| Geothermal and water source heat pumps [Member]
Segment Financial Information
Net sales	183,789	171,561	179,865
Climate Control [Member] \| Hydronic fan coils [Member]
Segment Financial Information
Net sales	54,379	37,923	46,381
Climate Control [Member] \| Other HVAC products [Member]
Segment Financial Information
Net sales	43,397	41,037	39,923
Chemical [Member]
Segment Financial Information
Net sales	511,854	351,086	257,832
Gross profit	130,687	49,295	42,422
Total operating income	116,503	31,948	15,122
Non-operating income (expense), net	1	7	31
Chemical [Member] \| Agricultural Products [Member]
Segment Financial Information
Net sales	231,599	135,598	104,300
Chemical [Member] \| Industrial acids and other chemical products [Member]
Segment Financial Information
Net sales	161,776	126,846	95,997
Chemical [Member] \| Mining Products [Member]
Segment Financial Information
Net sales	118,479	88,642	57,535
Other [Member]
Segment Financial Information
Net sales	11,837	8,298	7,837
Gross profit	4,153	2,966	2,583
Total operating income	(12,819)	(11,361)	(12,118)
Non-operating income (expense), net	$ (3)	$ 43	$ 91

Segment Information (Details 1) - USD ($) $ in Thousands	12 Months Ended
Segment Information (Details 1) - USD ($) $ in Thousands	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
General corporate expenses and other business operations, net
Gross profit-Other	$ 223,018	$ 138,625	$ 137,414
Selling, general and administrative:
Total selling, general and administrative	86,343	89,720	96,374
Other income	3,938	8,427	287
Other expense	3,823	1,262	527
Operating income	136,443	55,925	40,710
Other [Member]
General corporate expenses and other business operations, net
Gross profit-Other	4,153	2,966	2,583
Selling, general and administrative:
Personnel costs	(8,418)	(7,865)	(8,083)
Professional fees	(3,805)	(3,784)	(3,687)
All other	(4,224)	(3,040)	(2,917)
Total selling, general and administrative	(16,447)	(14,689)	(14,687)
Other income	118	366	192
Other expense	(643)	(4)	(206)
Operating income	$ (12,819)	$ (11,361)	$ (12,118)

Segment Information (Details 2) - USD ($) $ in Thousands	12 Months Ended
Segment Information (Details 2) - USD ($) $ in Thousands	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Depreciation of PP&E:
Total depreciation of PP&E	$ 18,762	$ 17,329	$ 15,601
Additions to PP&E:
Total additions to PP&E	47,957	36,545	31,336
Total assets at December 31:
Total assets	502,009	387,981	338,633
Climate Control [Member]
Depreciation of PP&E:
Total depreciation of PP&E	3,853	4,026	4,077
Additions to PP&E:
Total additions to PP&E	5,746	7,177	6,438
Total assets at December 31:
Total assets	119,323	112,894	102,029
Chemical [Member]
Depreciation of PP&E:
Total depreciation of PP&E	14,659	13,154	11,291
Additions to PP&E:
Total additions to PP&E	39,835	28,850	24,627
Total assets at December 31:
Total assets	214,246	179,033	143,800
Corporate assets and other [Member]
Depreciation of PP&E:
Total depreciation of PP&E	250	149	233
Additions to PP&E:
Total additions to PP&E	2,376	518	271
Total assets at December 31:
Total assets	$ 168,440	$ 96,054	$ 92,804

Segment Information (Details 3) - USD ($) $ in Thousands	12 Months Ended
Segment Information (Details 3) - USD ($) $ in Thousands	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Foreign net sales to unaffiliated customers
Foreign net sales to unaffiliated customers	$ 36,215	$ 31,856	$ 29,899
Canada [Member]
Foreign net sales to unaffiliated customers
Foreign net sales to unaffiliated customers	23,765	19,345	20,224
Middle East [Member]
Foreign net sales to unaffiliated customers
Foreign net sales to unaffiliated customers	5,688	6,257	4,440
Europe [Member]
Foreign net sales to unaffiliated customers
Foreign net sales to unaffiliated customers	2,452	1,411	2,154
South and East Asia [Member]
Foreign net sales to unaffiliated customers
Foreign net sales to unaffiliated customers	2,015	2,373	1,114
Mexico, Central and South America [Member]
Foreign net sales to unaffiliated customers
Foreign net sales to unaffiliated customers	1,077	1,635	1,124
Other [Member]
Foreign net sales to unaffiliated customers
Foreign net sales to unaffiliated customers	$ 1,218	$ 835	$ 843

Segment Information (Details Textual) $ in Thousands	12 Months Ended
Segment Information (Details Textual) $ in Thousands	Dec. 31, 2011 USD ($) Person	Dec. 31, 2010 USD ($)	Dec. 31, 2009 USD ($)
Segment Reporting (Textual) [Abstract]
Number of persons employed by chemical business \| Person	492
Number of persons represented by unions under agreements which expire July through November 2013 \| Person	149
Sales to unrelated third parties	$ 805,256	$ 609,905	$ 531,838
Chemical [Member]
Segment Reporting (Textual) [Abstract]
Sales to unrelated third parties	511,854	351,086	$ 257,832
Chemical [Member] \| Pryor Facility [Member] \| Third Party Sales [Member]
Segment Reporting (Textual) [Abstract]
Sales to unrelated third parties	$ 91,900	$ 25,000
Orica [Member] \| Chemical [Member]
Segment Reporting (Textual) [Abstract]
Percentage of net sales to one customer	11.00%	11.00%	7.00%

Related Party Transactions (Details) - USD ($)	1 Months Ended						12 Months Ended
Related Party Transactions (Details) - USD ($)	Sep. 30, 2011	Jul. 31, 2011	Jun. 30, 2011	Mar. 31, 2011	Mar. 31, 2010	Mar. 31, 2009	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009	Dec. 31, 2008
Related Party Transactions (Textual) [Abstract]
Dividends on preferred stocks							$ 305,000	$ 305,000	$ 306,000
Interest paid relating to the debentures							6,547,000	6,954,000	6,908,000
Principal amounts converted or acquired							$ 26,900,000	2,500,000	11,100,000
Shares of LSB common stock issued							979,160
Golsen Group [Member]
Related Party Transactions (Textual) [Abstract]
Dividends on preferred stocks				$ 300,000	$ 300,000	$ 300,000
Golsen Group acquired debentures							$ 2,000,000
Debentures acquired by Golsen Group										$ 5,000,000
Interest paid relating to the debentures			$ 55,000				137,500	137,500	137,500
Interest expense relating to the debentures							60,500	275,000	275,000
Interest accrued								$ 137,500	$ 137,500	$ 137,500
Amount of Debentures sold by a related party to a third party				3,000,000
Debentures held by Golsen Group							$ 2,000,000
Golsen Group [Member] \| Debentures [Member]
Related Party Transactions (Textual) [Abstract]
Principal amounts converted or acquired		$ 2,000,000
Shares of LSB common stock issued		72,800
Golsen Group [Member] \| Promissory Note [Member]
Related Party Transactions (Textual) [Abstract]
Principal amounts converted or acquired		$ 8,000
Promissory note converted into shares		4,000
Landmark [Member]
Related Party Transactions (Textual) [Abstract]
Purchase price			$ 2,250,000
Percentage of return on purchase price			10.00%
Texas Real Estate [Member]
Related Party Transactions (Textual) [Abstract]
Purchase price	$ 2,500,000
Percentage of return on purchase price	10.00%
Maximum number of shares available to purchase under warrants							1,000,000
Purchase price per share of Landmark stock under the warrant							$ 1.00
LLC [Member]
Related Party Transactions (Textual) [Abstract]
Amount of contribution to a LLC							$ 1,000,000
Loan made by a related party							$ 2,000,000
Principal amount of membership interest of the LLC sold for a promissory note				$ 1,100,000

Subsequent Events (Details)	1 Months Ended	12 Months Ended
Subsequent Events (Details)	Jan. 31, 2012 USD ($)	Dec. 31, 2011 USD ($) T	Dec. 31, 2010 USD ($)	Dec. 31, 2009 USD ($)
Subsequent Event [Line Items]
Dividends on preferred stocks \| $		$ 305,000	$ 305,000	$ 306,000
Subsequent Events (Textual) [Abstract]
Maximum permitted production level		700
Maximum sustainable production level		500
Current production level		600
Landmark transaction date	Feb. 07, 2012
Dividend Declared [Member]
Subsequent Event [Line Items]
Dividends on preferred stocks \| $	$ 300,000

Schedule I - Condensed Financial Information of Registrant - Condensed Balance Sheets (Details) - USD ($) $ in Thousands	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009	Dec. 31, 2008
Current assets:
Cash and cash equivalents	$ 124,929	$ 66,946	$ 61,739	$ 46,204
Accounts receivable, net	87,351	74,259
Supplies, prepaid items and other	42,009	25,927
Total current assets	328,106	242,668
Property, plant and equipment, net	164,547	135,755
Investments in and due from subsidiaries	2,910	4,016
Other assets, net	9,356	9,558
Total assets	502,009	387,981	338,633
Current liabilities:
Accounts payable	57,891	51,025
Short-term financing	5,646	3,821
Accrued and other liabilities	28,677	31,507
Current portion of long-term debt	4,935	2,328
Total current liabilities	97,149	88,681
Long-term debt	74,525	93,064
Noncurrent accrued and other liabilities	15,239	12,605
Stockholders' equity:
Common stock	2,664	2,548
Capital in excess of par value	162,092	131,845
Retained earnings	153,888	70,351
Stockholders equity including treasury stock	321,644	207,744
Less treasury stock	(28,374)	(28,374)
Total stockholders equity	293,270	179,370	150,607	130,044
Total Liabilities and Stockholders' Equity	502,009	387,981
Parent Company [Member]
Current assets:
Cash and cash equivalents	35,302	7,491	$ 23,071	$ 25,720
Accounts receivable, net	15	12
Supplies, prepaid items and other	5,833	275
Due from subsidiaries	28,785	5,174
Notes receivable from a subsidiary	10,000	10,000
Total current assets	79,935	22,952
Property, plant and equipment, net	229	274
Investments in and due from subsidiaries	290,303	222,615
Other assets, net	2,253	2,445
Total assets	372,720	248,286
Current liabilities:
Accounts payable	291	275
Short-term financing	5,646	0
Accrued and other liabilities	1,036	1,038
Redeemable, noncumulative, convertible preferred stock	44	45
Current portion of long-term debt	0	8
Total current liabilities	7,017	1,366
Long-term debt	0	26,900
Due to subsidiaries	56,243	24,536
Noncurrent accrued and other liabilities	5,349	5,273
Stockholders' equity:
Preferred stock	3,000	3,000
Common stock	2,664	2,548
Capital in excess of par value	162,092	131,845
Retained earnings	153,888	70,351
Stockholders equity including treasury stock	321,644	207,744
Less treasury stock	17,533	17,533
Total stockholders equity	304,111	190,211
Total Liabilities and Stockholders' Equity	$ 372,720	$ 248,286

Schedule I - Condensed Financial Information of Registrant - Condensed Statements of Income (Details 1) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Consolidated Statements of Income [Abstract]
Selling, general and administrative expense	$ 86,343	$ 89,720	$ 96,374
Operating loss	136,443	55,925	40,710
Interest expense	6,658	7,427	6,746
Losses (gain) on extinguishment of debt	136	52	(1,783)
Interest and other non-operating income, net		53	130
Income (loss) from continuing operations	83,984	29,715	21,849
Equity in earnings of affiliate	(543)	(1,003)	(996)
Net loss from discontinued operations	142	141	265
Net income	83,842	29,574	21,584
Parent Company [Member]
Consolidated Statements of Income [Abstract]
Fees under service, tax sharing and management agreements with subsidiaries	5,406	3,531	3,531
Selling, general and administrative expense	5,661	5,388	5,321
Other expense (income), net	453	(25)	82
Operating loss	(708)	(1,832)	(1,872)
Interest expense	1,730	3,062	3,513
Losses (gain) on extinguishment of debt	0	52	(1,783)
Interest and other non-operating income, net	(1,264)	(973)	(2,328)
Income (loss) from continuing operations	(1,174)	(3,973)	(1,274)
Equity in earnings of affiliate	85,158	33,688	23,123
Net loss from discontinued operations	(142)	(141)	(265)
Net income	$ 83,842	$ 29,574	$ 21,584

Schedule I - Condensed Financial Information of Registrant - Condensed Statements of Cash Flows (Details 2) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Consolidated Statements of Cash Flows [Abstract]
Net cash flows used by operating activities	$ 89,971	$ 44,201	$ 57,673
Cash flows from investing activities:
Capital expenditures	(44,221)	(34,475)	(28,891)
Other assets	(816)	(488)	(360)
Net cash provided (used) by investing activities	(44,596)	(25,988)	(38,060)
Cash flows from financing activities:
Proceeds from short-term financing	6,775	4,585	3,866
Payments on short-term financing	(4,950)	(3,781)	(3,077)
Payments associated with induced conversion of 5.5% convertible debentures	(558)
Acquisitions of 5.5% convertible debentures		(2,494)	(8,938)
Payments on other long-term debt	(15,345)	(8,909)	(2,327)
Payments on loans secured by cash value of life insurance policies	(84)	(380)
Purchases of treasury stock		(2,421)	(3,200)
Proceeds from exercise of stock options	1,197	829	609
Excess income tax benefit associated with stock-based compensation	1,160	185	911
Dividends paid on preferred stocks	(305)	(305)	(306)
Net cash provided (used) by financing activities	12,891	(12,644)	(3,922)
Net increase (decrease) in cash and cash equivalents	57,983	5,207	15,535
Cash and cash equivalents at beginning of year	66,946	61,739	46,204
Cash and cash equivalents at end of year	124,929	66,946	61,739
Parent Company [Member]
Consolidated Statements of Cash Flows [Abstract]
Net cash flows used by operating activities	(5,558)	(3,074)	(4,899)
Cash flows from investing activities:
Capital expenditures		(51)	(99)
Payments received on notes receivable from a subsidiary			21,400
Other assets	(283)	(439)	(283)
Net cash provided (used) by investing activities	(283)	(490)	21,018
Cash flows from financing activities:
Proceeds from short-term financing	6,775
Payments on short-term financing	(1,129)
Payments associated with induced conversion of 5.5% convertible debentures	(558)
Acquisitions of 5.5% convertible debentures	0	(2,494)	(8,938)
Payments on other long-term debt			(1)
Payments on loans secured by cash value of life insurance policies		(380)
Net change in due to/from subsidiaries	26,512	(7,430)	(7,738)
Purchases of treasury stock		(2,421)	(3,200)
Proceeds from exercise of stock options	1,197	829	609
Excess income tax benefit associated with stock-based compensation	1,160	185	806
Dividends paid on preferred stocks	(305)	(305)	(306)
Net cash provided (used) by financing activities	33,652	(12,016)	(18,768)
Net increase (decrease) in cash and cash equivalents	27,811	(15,580)	(2,649)
Cash and cash equivalents at beginning of year	7,491	23,071	25,720
Cash and cash equivalents at end of year	$ 35,302	$ 7,491	$ 23,071

Schedule I - Condensed Financial Information of Registrant - Notes to Condensed Financial Statements (Details 3) - Parent Company [Member] $ in Thousands	Dec. 31, 2011 USD ($)
Secured Long-term Debt, Noncurrent [Abstract]
Secured Term Loan Guaranteed by Parent	$ 72,188
Other, most of which is collateralized by real estate guaranteed by the parent	6,585
Subsidiaries long-term debt outstanding guaranteed by parent	$ 78,773

Schedule I - Condensed Financial Information of Registrant - Notes to Condensed Financial Statements (Details 4) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
2007 Debenture Transaction Summary
Principal amounts converted or acquired	$ 26,900	$ 2,500	$ 11,100
Cash paid for acquisitions		2,494	8,938
Shares of LSB common stock issued	979,160
Parent Company [Member]
2007 Debenture Transaction Summary
Principal amounts converted or acquired	$ 26,900	2,500	11,100
Cash paid for acquisitions	$ 0	$ 2,494	$ 8,938
Shares of LSB common stock issued	979,160	0	0

- Definition

Number of shares issued during the period as a result of the conversion of convertible securities.

+ References

+ Details

Schedule I - Condensed Financial Information of Registrant - Notes to Condensed Financial Statements (Details Textual) - Parent Company [Member] - USD ($) $ in Millions	Dec. 31, 2011	Dec. 31, 2010
Extinguishment of Debt LSB Industries (Textual) [Abstract]
Amount guaranteed for subsidiaries credit terms	$ 44.3
Amount guaranteed for subsidiaries insurance bonds	$ 12.2
Shares owned by a subsidiary of LSB	2,451,527	2,451,527

Schedule I - Condensed Financial Information of Registrant - Notes to Condensed Financial Statements - Interest Income of LSB Industries (Details Textual) - Parent Company [Member] - USD ($)	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Interest Income of LSB Industries (Textual) [Abstract]
Interest expense incurred from subsidiaries	$ 1,200,000	$ 1,173,000	$ 1,271,000
Interest income earned from subsidiaries	$ 1,262,000	$ 956,000	$ 2,317,000

Schedule II - Valuation and Qualifying Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Accounts receivable allowance for doubtful accounts [Member]
Valuation and Qualifying Accounts
Balance at Beginning of year	$ 636	$ 676	$ 729
Additions-Charges to Costs and Expenses	347	145	90
Deductions-Write-offs/Costs Incurred	28	185	143
Balance at End of year	955	636	676
Inventory-reserve for slow-moving items [Member]
Valuation and Qualifying Accounts
Balance at Beginning of year	1,616	1,198	514
Additions-Charges to Costs and Expenses	751	485	745
Deductions-Write-offs/Costs Incurred	600	67	61
Balance at End of year	1,767	1,616	1,198
Notes receivable allowance for doubtful accounts [Member]
Valuation and Qualifying Accounts
Balance at Beginning of year	970	970	970
Additions-Charges to Costs and Expenses	0	0	0
Deductions-Write-offs/Costs Incurred	0	0	0
Balance at End of year	970	970	970
Deferred tax assets valuation allowance [Member]
Valuation and Qualifying Accounts
Balance at Beginning of year	310	358	268
Additions-Charges to Costs and Expenses	34	0	90
Deductions-Write-offs/Costs Incurred	0	48	0
Balance at End of year	$ 344	$ 310	$ 358