For the quarter, we generated a second consecutive record adjusted earnings per share of $1.38 and segment EBIT of $149 million.
Adjusted earnings per share was up 79% over the second fiscal quarter of 2020 largely due to strong volumes across all regions, robust unit margins, disciplined operational execution and strong performance in our targeted growth initiatives.
Looking at our major segments, Reinforcement Materials generated record EBIT performance in the quarter of $89 million, driven by robust customer demand and strong Asia pricing.
Results in Performance Chemicals were up sharply over the prior year with segment EBIT of $58 million compared to $31 million last year, as the business drove double-digit volume growth in both Performance Additives and Formulated Solutions businesses, and benefited from favorable product mix.
Lithium ion batteries are growing rapidly and expected to grow at a 25% to 30% compound annual growth rate through 2030 with the primary growth driver being electric vehicles as countries establish CO2 reduction goals and accelerate the shift away from internal combustion engines.
The current conductive carbon additives market for lithium ion batteries which includes both CNTs and conductive carbon black is approximately $400 million in material value.
We expect this market will grow to approximately $1 billion in value by 2025.
Our energy materials business is off to a strong start in fiscal 2021 with forecasted revenue of approximately $80 million for the fiscal year.
Over the past five years, revenue has grown at a CAGR of roughly 50% which includes the acquisition of our CNT business in China.
While we are making significant investments to drive qualification and further extend our technical capabilities EBITDA is forecasted to be between $15 million and $20 million in fiscal year 2021.
The Reinforcement Materials segment delivered record operating results with EBIT of $89 million which is up 46% compared to the same quarter of fiscal 2020, primarily due to significantly higher volumes across all regions and improved unit margins driven by favorable spot pricing in the Asia region.
Globally, volumes were up 18% in the second quarter as compared to the same period of the prior year primarily due to 30% growth in Asia and 10% higher volumes in the Americas and Europe.
In addition, we anticipate higher feedstock cost flow-through in Asia, while fixed costs are expected to be higher due to the timing of planned plant maintenance spending, after delayed spending in 2020 and the first half of this fiscal year.
Now, turning to Performance Chemicals, EBIT increased by $27 million as compared to the second fiscal quarter of 2020, primarily due to strong volumes across the segment and improved product mix, driven by an increase in sales and into automotive applications.
Year-over-year volumes increased by 10% in Performance Additives and 14% in Formulated Solutions, driven by increases across all our key product lines from higher demand levels and some level of customer inventory replenishment during the quarter.
Looking ahead to the second half of fiscal 2021, we expect overall volumes to remain strong.
In addition, we anticipate higher fixed costs in the second half of the fiscal year due to the timing of spending.
Moving to Purification Solutions, EBIT in the second quarter of 2021 declined by $1 million compared to the second quarter of 2020.
We ended the quarter with a cash balance of $146 million and our liquidity position remains strong at approximately $1.3 billion.
During the second quarter of fiscal 2021, cash flows from operating activities were $65 million which included a working capital increase of $80 million.
Capital expenditures for the second quarter were $40 million, for the full year we expect capital expenditures to be approximately $200 million.
Additional uses of cash during the quarter included $20 million for dividend.
Our year-to-date operating tax rate was 28% and we forecast our operating tax rate will be between 27% and 29% for the fiscal year.
Against this demand outlook, we expect some impact from the flow-through of higher raw material costs in Asia, moderating volumes into automotive applications due to the semiconductor chip shortage and higher fixed costs as we perform some maintenance and turnarounds that are necessary to ensure we can meet customer demand in 2022.
Based on these factors, we expect adjusted earnings per share for the full year to be in the range of $4.70 to $4.95.
Our debt to EBITDA ratio was 2.3 times at the end of March and we expect this will be reduced further by year end.

Summary:
For the quarter, we generated a second consecutive record adjusted earnings per share of $1.38 and segment EBIT of $149 million.
In addition, we anticipate higher feedstock cost flow-through in Asia, while fixed costs are expected to be higher due to the timing of planned plant maintenance spending, after delayed spending in 2020 and the first half of this fiscal year.
Looking ahead to the second half of fiscal 2021, we expect overall volumes to remain strong.
In addition, we anticipate higher fixed costs in the second half of the fiscal year due to the timing of spending.
Against this demand outlook, we expect some impact from the flow-through of higher raw material costs in Asia, moderating volumes into automotive applications due to the semiconductor chip shortage and higher fixed costs as we perform some maintenance and turnarounds that are necessary to ensure we can meet customer demand in 2022.
Based on these factors, we expect adjusted earnings per share for the full year to be in the range of $4.70 to $4.95.