The Collaborative International Dictionary of English v.0.48:

Compound \Com*pound"\ (k[o^]m*pound"), v. t. [imp. & p. p.
   Compounded; p. pr. & vb. n. Compounding.] [OE. componen,
   compounen, L. componere, compositum; com-+ ponere to put set.
   The d is excrescent. See Position, and cf. Compon['e].]
   1. To form or make by combining different elements,
      ingredients, or parts; as, to compound a medicine.
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            Incapacitating him from successfully compounding a
            tale of this sort.                    --Sir W.
                                                  Scott.
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   2. To put together, as elements, ingredients, or parts, in
      order to form a whole; to combine, mix, or unite.
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            We have the power of altering and compounding those
            images into all the varieties of picture. --Addison.
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   3. To modify or change by combination with some other thing
      or part; to mingle with something else.
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            Only compound me with forgotten dust. --Shak.
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   4. To compose; to constitute. [Obs.]
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            His pomp and all what state compounds. --Shak.
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   5. To settle amicably; to adjust by agreement; to compromise;
      to discharge from obligation upon terms different from
      those which were stipulated; as, to compound a debt.
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            I pray, my lords, let me compound this strife.
                                                  --Shak.
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   To compound a felony, to accept of a consideration for
      forbearing to prosecute, such compounding being an
      indictable offense. See Theftbote.
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The Collaborative International Dictionary of English v.0.48:

compounding \compounding\ n.
   the act of combining things.

   Syn: combination, combining.
        [WordNet 1.5]

WordNet (r) 3.0 (2006):

compounding
    n 1: the act of combining things to form a new whole [syn:
         combination, combining, compounding]