Pensions: The Company sponsors various retirement plans for most full-time employees. These defined benefit and defined contribution plans cover most U.S. and certain international locations. Total pension expense from continuing operations for both defined benefit and defined contribution plans for 2000, 1999 and 1998 was $107,654,000, $95,464,000 and $93,435,000, respectively. Pension plan benefits for defined benefit plans are based primarily on participants' compensation and years of credited service. It has been the Company's policy to fund the minimum amount required by local regulations of current and prior year service costs under its funded defined benefit retirement plans. Contributions to defined contribution plans are based on a percentage of employees' compensation. Pension expense from continuing operations recognized for definedcontribution plans for 2000, 1999 and 1998 totaled $62,902,000, $61,587,000 and $58,715,000, respectively.
  
  Other Postretirement Benefits: The Company provides postretirement health care and life insurance benefits for retired employees of most domestic locations and Canada. Most full-time employees become eligible for these benefits after attaining specified age and service requirements.
  Although the Company sold the Cyanamid Agricultural Products business (see Note 2), which was accounted for as a discontinued operation, the pensions and other postretirement benefits were excluded from the sale for U.S. plans since employees of the Cyanamid Agricultural Products business accrued benefits in plans that encompassed other business segments. Except for one pension plan in Germany, all international plans will continue to be maintained by the Company to pay benefits that were accrued prior to the sale. Accordingly, benefit obligations, fair value of plan assets and accrued benefit liabilities were not restated, except to reflect the sale of the pension plan in Germany. However, components of net periodic benefit cost from continuing operations were restated to reflect the Cyanamid Agricultural Products business as a discontinued operation.
  The change in benefit obligation, change in plan assets and reconciliation of funded status of the Company's defined benefit plans (principally U.S. plans) for 2000 and 1999 were as follows:

	Pensions			Other Postretirement Benefits
Change in Benefit Obligation (In thousands)	2000	1999		2000	1999
Benefit obligation at January 1	$3,005,665	$3,156,754		$1,076,298	$1,025,286
Consolidation of Japan benefit plan	186,327	-		-	-
Service cost	74,656	69,056		20,460	23,001
Interest cost	225,248	211,971		77,666	74,871
Service and interest cost from discontinued operations	3,074	9,839		2,189	3,986
Amendments	11,235	28,518		16,952	-
Net actuarial loss/(gain)	71,158	(107,782)		(72,589)	13,089
Curtailments/settlements	(39,826)	(2,315)		(24,289)	-
Benefits paid	(296,613)	(350,573)		(75,900)	(64,486)
Currency translation adjustment	(30,349)	(9,803)		(457)	551
Benefit obligation at December 31	$3,210,575	$3,005,665		$1,020,330	$1,076,298
	Pensions			Other Postretirement Benefits
Change in Plan Assets(In thousands)	2000	1999		2000	1999
Fair value of plan assets at January 1	$3,001,154	$2,891,610		-	-
Consolidation of Japan benefit plan	76,089	-		-	-
Actual return on plan assets	34,607	439,515		-	-
Amendments	-	6,843		-	-
Company contributions	17,554	14,259		$ 75,900	$ 64,486
Benefits paid	(296,613)	(350,573)		(75,900)	(64,486)
Currency translation adjustment	(16,775)	(500)		-	-
Fair value of plan assets at December 31	$2,816,016	$3,001,154		$ -	$ -
	Pensions			Other Postretirement Benefits
Reconciliation of Funded Status (In thousands)	2000	1999		2000	1999
Benefit obligation in excess of plan assets	$ 394,559	$ 4,511		$1,020,330	$1,076,298
Unrecognized net actuarial gain/(loss)	(44,225)	289,953		(15,603)	(112,160)
Unrecognized prior service cost	(60,502)	(74,198)		(18,698)	(2,248)
Unrecognized net transition obligation	(8,266)	(4,811)		-	-
Accrued benefit liability	$ 281,566	$ 215,455		$ 986,029	$ 961,890

  The fluctuation in unrecognized net actuarial loss for pensions in 2000 compared with the unrecognized net actuarial gain for pensions in 1999 was due primarily to the actual return on plan assets being less than the expected return on plan assets in 2000, pertaining mostly to the U.S. plans. Accrued benefit liability increased in 2000 compared with 1999 due primarily to consolidating the benefit plan of a subsidiary in Japan. The decrease in unrecognized net actuarial loss for other postretirement benefits resulted from a change in the plans' expected per capita cost for benefits provided to employees.
  There were no plan assets for the Company's other postretirement benefit plans at December 31, 2000 and 1999 as postretirement benefits are funded by the Company when claims are paid. The current portion of the accrued benefit liability for other postretirement benefits was $75,000,000 and $65,000,000 at December 31, 2000 and 1999, respectively.
  At December 31, 2000 and 1999, the Company had six unfunded pension plans with aggregate projected benefit obligations of $234,888,000 and $219,706,000, respectively, and accumulated benefit obligations of $186,328,000 and $176,504,000, respectively.
  Assumptions used in developing the benefit obligations at December 31 were as follows:

	Pensions				Other Postretirement Benefits
Weighted Average Assumptions at December 31,	2000	1999	1998		2000	1999	1998
Discount rate	7.5%	7.75%	7.0%		7.5%	7.75%	7.0%
Rate of compensation increase	4.0%	4.5%	4.0%		-	-	-
Expected return on plan assets	9.5%	9.5%	9.5%		-	-	-
Increase in per capita cost of health care benefits    that gradually decreases and is held constant    thereafter beginning in 2004	-	-	-		7.0%-5.0%	7.5%-5.0%	8.0%-5.0%

  The assumed health care cost trend rates have a significant effect on the amounts reported. A one percentage point increase in the assumed health care cost trend rates would increase the postretirement benefit obligation by $105,327,000 and the total service and interest cost components from continuing operations by $12,923,000. A one percentage point decrease in the assumed health care cost trend rates would decrease the postretirement benefit obligation by $98,815,000 and the total service and interest cost components from continuing operations by $10,235,000.
  Net periodic benefit cost from continuing operations for 2000, 1999 and 1998 of the Company's defined benefit plans (principally U.S. plans) was as follows:

	Pensions				Other Postretirement Benefits
Components of Net Periodic Benefit Cost from Continuing Operations (In thousands)	2000	1999	1998		2000	1999	1998
Service cost	$ 74,656	$ 69,056	$ 64,590		$20,460	$ 23,001	$17,489
Interest cost	225,248	211,971	213,428		77,666	74,871	64,965
Expected return on plan assets	(270,131)	(260,323)	(253,034)		-	-	-
Amortization of prior service cost	10,704	10,734	11,328		330	339	339
Amortization of transition obligation	2,184	1,114	1,143		-	-	-
Recognized net actuarial loss/(gain)	2,091	2,827	3,005		134	6,852	(103)
Curtailment gain	-	(1,502)	(5,740)		-	-	-
Net periodic benefit cost from   continuing operations	$ 44,752	$ 33,877	$ 34,720		$98,590	$105,063	$82,690

  Net periodic pension benefit cost from continuing operations was higher in 2000 compared with 1999 due primarily to consolidating a subsidiary in Japan effective January 1, 2000 (see Note 1).
  Net periodic other postretirement benefit cost from continuing operations was higher in 1999 compared with 1998 due primarily to a change in early retirement assumptions.
  As a result of the sale of the Cyanamid Agricultural Products business, the Company realized a curtailment gain related to the pension plans of $25,517,000. This curtailment gain was recorded in Loss on disposal of agricultural products business.