Question-and-Answer Session
[Operator Instructions].
Mark Oberle - Investor Relations
Thanks we'd like to ask everyone to try to limit their questions to one question and a follow-up, and if you have additional, feel free to get back in the queue and we'll handle as many questions as we can. Thanks.
Operator
Your first question comes from line of Sergey Vasnetsov with Lehman Brothers. Please proceed.
Sergey Vasnetsov - Lehman Brothers
Hi, good morning.
David N. Weidman - Chairman and Chief Executive Officer
Hi, Sergey.
Sergey Vasnetsov - Lehman Brothers
Dave, looking at your very strong cash flow, I am trying to spend the money hence I wanted the lines that could be use of the money this year is working capital. What's your outlook given the high energy prices there? Your working capital jumped by $140 million in the first quarter, is it just a seasonal and what do you expect for the full year?
David N. Weidman - Chairman and Chief Executive Officer
Yes, I'll let Steve touch on little bit of the details on it that we had two factors going on, one was seasonality and the other one was the higher input cost. Steve?
Steven Sterin - Senior Vice President and Chief Financial Officer
Yes, Sergey as you look at our working capital, we actually are in really good shape. As you probably know the first quarter is typically the seasonal high point for working capital just in anticipation of the high demand in the first half, but we're still at about 13% of sales and as you look across the industry, think you'll find that that's... if it's not the best in the industry, its certainly in the top best.
Sergey Vasnetsov - Lehman Brothers
Okay. And so, what's your updated view on the M&A prospects for this year?
David N. Weidman - Chairman and Chief Executive Officer
We continue to focus on acquisitions that will try to be a [indiscernible]. So, acetyl, advanced engineered materials, emulsions type acquisitions, those would be the area that we look at, principally focused in Asia not because we have a bias there but because those are where the opportunities are, and we continue to work it. Candidly speaking though, as we look at it, pricing for acquisitions today is high but we continue to be optimistic that we'll be able to use some of the shareholders cash and make some good strategic acquisitions through this year and to next year.
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