XML 84 R23.htm IDEA: XBRL DOCUMENT
v2.4.0.8

Operations and Summary of Significant Accounting Policies (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2013
Operations and Summary of Significant Accounting Policies [Abstract] |
Trade Allowances and Sales Incentive Discounts | Accounts and notes receivable allowances at December 31, 2013 and 2012 were as follows (in millions):
| 2013 |  | 2012
Sales incentive discounts | $ | 30.4 |  |  | $ | 21.5 |
Doubtful accounts | 34.9 |  |  | 38.1 |
| $ | 65.3 |  |  | $ | 59.6 |
Schedule of Inventory, Current | Inventories, net at December 31, 2013 and 2012 were as follows (in millions):
| 2013 |  | 2012
Finished goods | $ | 775.7 |  |  | $ | 598.5 |
Repair and replacement parts | 550.2 |  |  | 505.6 |
Work in process | 109.0 |  |  | 137.5 |
Raw materials | 581.2 |  |  | 461.5 |
Inventories, net | $ | 2,016.1 |  |  | $ | 1,703.1 |
Property, Plant and Equipment | Property, plant and equipment, net at December 31, 2013 and 2012 consisted of the following (in millions):
| 2013 |  | 2012
Land | $ | 109.3 |  |  | $ | 100.1 |
Buildings and improvements | 714.8 |  |  | 618.8 |
Machinery and equipment | 1,852.0 |  |  | 1,616.2 |
Furniture and fixtures | 288.7 |  |  | 244.5 |
Gross property, plant and equipment | 2,964.8 |  |  | 2,579.6 |
Accumulated depreciation and amortization | (1,362.5 | ) |  | (1,173.5 | )
Property, plant and equipment, net | $ | 1,602.3 |  |  | $ | 1,406.1 |
Schedule of Goodwill | Changes in the carrying amount of goodwill during the years ended December 31, 2013, 2012 and 2011 are summarized as follows (in millions):
| North America |  | South America |  | Europe/Africa/ Middle East |  | Asia/Pacific |  | Consolidated
Balance as of December 31, 2010 | $ | 3.1 |  |  | $ | 196.7 |  |  | $ | 432.9 |  |  | $ | — |  |  | $ | 632.7 |
Acquisition | 412.8 |  |  | 38.3 |  |  | 85.3 |  |  | 69.3 |  |  | 605.7 |
Adjustments related to income taxes | — |  |  | — |  |  | (9.1 | ) |  | — |  |  | (9.1 | )
Foreign currency translation | — |  |  | (22.8 | ) |  | (12.3 | ) |  | 0.3 |  |  | (34.8 | )
Balance as of December 31, 2011 | 415.9 |  |  | 212.2 |  |  | 496.8 |  |  | 69.6 |  |  | 1,194.5 |
Acquisition | 0.8 |  |  | 29.0 |  |  | — |  |  | (3.7 | ) |  | 26.1 |
Impairment charge | — |  |  | — |  |  | — |  |  | (9.1 | ) |  | (9.1 | )
Adjustments related to income taxes | — |  |  | — |  |  | (7.8 | ) |  | — |  |  | (7.8 | )
Foreign currency translation | — |  |  | (21.9 | ) |  | 9.3 |  |  | 1.3 |  |  | (11.3 | )
Balance as of December 31, 2012 | 416.7 |  |  | 219.3 |  |  | 498.3 |  |  | 58.1 |  |  | 1,192.4 |
Acquisition | 7.3 |  |  | — |  |  | — |  |  | — |  |  | 7.3 |
Adjustments related to income taxes | — |  |  | — |  |  | (8.0 | ) |  | — |  |  | (8.0 | )
Foreign currency translation | — |  |  | (28.6 | ) |  | 16.3 |  |  | (0.7 | ) |  | (13.0 | )
Balance as of December 31, 2013 | $ | 424.0 |  |  | $ | 190.7 |  |  | $ | 506.6 |  |  | $ | 57.4 |  |  | $ | 1,178.7 |
Schedule of Acquired Finite-Lived Intangible Assets by Major Class | Changes in the carrying amount of acquired intangible assets during 2013 and 2012 are summarized as follows (in millions):
| Trademarks and trade names |  | Customer Relationships |  | Patents and Technology |  | Land Use Rights |  | Total
Gross carrying amounts: |  |  |  |  |  |  |  |  |  |  |  |  |
Balance as of December 31, 2011 | $ | 118.1 |  |  | $ | 511.4 |  |  | $ | 85.7 |  |  | $ | 8.6 |  |  | $ | 723.8 |
Acquisition | 1.5 |  |  | — |  |  | 1.1 |  |  | — |  |  | 2.6 |
Foreign currency translation | (0.7 | ) |  | (3.6 | ) |  | 0.8 |  |  | 0.1 |  |  | (3.4 | )
Balance as of December 31, 2012 | 118.9 |  |  | 507.8 |  |  | 87.6 |  |  | 8.7 |  |  | 723.0 |
Acquisition | — |  |  | — |  |  | — |  |  | 6.0 |  |  | 6.0 |
Foreign currency translation | (0.3 | ) |  | (5.1 | ) |  | 1.5 |  |  | 0.2 |  |  | (3.7 | )
Balance as of December 31, 2013 | $ | 118.6 |  |  | $ | 502.7 |  |  | $ | 89.1 |  |  | $ | 14.9 |  |  | $ | 725.3 |
| Trademarks and trade names |  | Customer Relationships |  | Patents and Technology |  | Land Use Rights |  | Total
Accumulated amortization: |  |  |  |  |  |  |  |  |  |  |  |  |
Balance as of December 31, 2011 | $ | 13.1 |  |  | $ | 85.3 |  |  | $ | 50.3 |  |  | $ | — |  |  | $ | 148.7 |
Amortization expense | 6.7 |  |  | 39.4 |  |  | 3.0 |  |  | 0.2 |  |  | 49.3 |
Impairment charge | 5.6 |  |  | 5.4 |  |  | — |  |  | 2.3 |  |  | 13.3 |
Foreign currency translation | (0.5 | ) |  | (3.5 | ) |  | 0.8 |  |  | — |  |  | (3.2 | )
Balance as of December 31, 2012 | 24.9 |  |  | 126.6 |  |  | 54.1 |  |  | 2.5 |  |  | 208.1 |
Amortization expense | 6.2 |  |  | 38.4 |  |  | 3.0 |  |  | 0.2 |  |  | 47.8 |
Foreign currency translation | (0.1 | ) |  | (4.3 | ) |  | 1.9 |  |  | — |  |  | (2.5 | )
Balance as of December 31, 2013 | $ | 31.0 |  |  | $ | 160.7 |  |  | $ | 59.0 |  |  | $ | 2.7 |  |  | $ | 253.4 |
The acquired intangible assets have a weighted average useful life as follows:
Intangible Asset |  | Weighted-Average Useful Life
Patents and technology |  | 13 | years
Customer relationships |  | 14 | years
Trademarks and trade names |  | 21 | years
Land use rights |  | 47 | years
Schedule of Indefinite-lived Intangible Assets by Major Class |
| Trademarks and trade names
Indefinite-lived intangible assets: |  |
Balance as of December 31, 2011 | $ | 91.4 |
Foreign currency translation | 0.8 |
Balance as of December 31, 2012 | 92.2 |
Foreign currency translation | 1.5 |
Balance as of December 31, 2013 | $ | 93.7 |
Schedule of Accrued Liabilities | Accrued expenses at December 31, 2013 and 2012 consisted of the following (in millions):
| 2013 |  | 2012
Reserve for volume discounts and sales incentives | $ | 499.8 |  |  | $ | 403.9 |
Warranty reserves | 255.9 |  |  | 223.9 |
Accrued employee compensation and benefits | 276.9 |  |  | 249.7 |
Accrued taxes | 167.3 |  |  | 169.3 |
Other | 189.3 |  |  | 179.7 |
| $ | 1,389.2 |  |  | $ | 1,226.5 |
Schedule of Product Warranty Liability | The warranty reserve activity for the years ended December 31, 2013, 2012 and 2011 consisted of the following (in millions):
| 2013 |  | 2012 |  | 2011
Balance at beginning of the year | $ | 256.9 |  |  | $ | 240.5 |  |  | $ | 199.5 |
Acquisitions | — |  |  | 0.1 |  |  | 7.2 |
Accruals for warranties issued during the year | 200.3 |  |  | 184.5 |  |  | 195.1 |
Settlements made (in cash or in kind) during the year | (165.7 | ) |  | (171.7 | ) |  | (152.6 | )
Foreign currency translation | 3.4 |  |  | 3.5 |  |  | (8.7 | )
Balance at the end of the year | $ | 294.9 |  |  | $ | 256.9 |  |  | $ | 240.5 |
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs | Stock compensation expense was recorded as follows (in millions). Refer to Note 9 for additional information regarding the Company’s stock incentive plans during 2013, 2012 and 2011:
| Years Ended December 31,
| 2013 |  | 2012 |  | 2011
Cost of goods sold | $ | 2.3 |  |  | $ | 2.4 |  |  | $ | 1.6 |
Selling, general and administrative expenses | 32.6 |  |  | 34.6 |  |  | 23.0 |
Total stock compensation expense | $ | 34.9 |  |  | $ | 37.0 |  |  | $ | 24.6 |
Schedule of Components of Interest Expense, Net | Interest expense, net for the years ended December 31, 2013, 2012 and 2011 consisted of the following (in millions):
| 2013 |  | 2012 |  | 2011
Interest expense | $ | 78.8 |  |  | $ | 77.7 |  |  | $ | 59.0 |
Interest income | (20.8 | ) |  | (20.1 | ) |  | (28.8 | )
| $ | 58.0 |  |  | $ | 57.6 |  |  | $ | 30.2 |
Schedule of Earnings Per Share, Basic and Diluted | A reconciliation of net income attributable to AGCO Corporation and its subsidiaries and weighted average common shares outstanding for purposes of calculating basic and diluted net income per share during the years ended December 31, 2013, 2012 and 2011 is as follows (in millions, except per share data):
| 2013 |  | 2012 |  | 2011
Basic net income per share: |  |  |  |  |  |  |  |
Net income attributable to AGCO Corporation and subsidiaries | $ | 597.2 |  |  | $ | 522.1 |  |  | $ | 583.3 |
Weighted average number of common shares outstanding | 97.3 |  |  | 97.1 |  |  | 95.6 |
Basic net income per share attributable to AGCO Corporation and subsidiaries | $ | 6.14 |  |  | $ | 5.38 |  |  | $ | 6.10 |
Diluted net income per share: |  |  |  |  |  |  |  |
Net income attributable to AGCO Corporation and subsidiaries | $ | 597.2 |  |  | $ | 522.1 |  |  | $ | 583.3 |
Weighted average number of common shares outstanding | 97.3 |  |  | 97.1 |  |  | 95.6 |
Dilutive stock options, SSARs, performance share awards and restricted stock awards | 0.8 |  |  | 1.0 |  |  | 0.6 |
Weighted average assumed conversion of contingently convertible senior subordinated notes | 1.3 |  |  | 0.5 |  |  | 1.9 |
Weighted average number of common shares and common share equivalents outstanding for purposes of computing diluted net income per share | 99.4 |  |  | 98.6 |  |  | 98.1 |
Diluted net income per share attributable to AGCO Corporation and subsidiaries | $ | 6.01 |  |  | $ | 5.30 |  |  | $ | 5.95 |
Schedule of Comprehensive Income (Loss) | The components of other comprehensive loss and the related tax effects for the years ended December 31, 2013, 2012 and 2011 are as follows (in millions):
| AGCO Corporation and Subsidiaries |  | Noncontrolling Interests
| 2013 |  | 2013
| Before-tax Amount |  | Income Taxes |  | After-tax Amount |  | After-tax Amount
Defined benefit pension plans | $ | 75.8 |  |  | $ | (19.3 | ) |  | $ | 56.5 |  |  | $ | — |
Net loss on derivatives | (1.4 | ) |  | 0.5 |  |  | (0.9 | ) |  | — |
Foreign currency translation adjustments | (86.9 | ) |  | — |  |  | (86.9 | ) |  | (0.3 | )
Total components of other comprehensive loss | $ | (12.5 | ) |  | $ | (18.8 | ) |  | $ | (31.3 | ) |  | $ | (0.3 | )
| AGCO Corporation and Subsidiaries |  | Noncontrolling Interests
| 2012 |  | 2012
| Before-tax Amount |  | Income Taxes |  | After-tax Amount |  | After-tax Amount
Defined benefit pension plans | $ | (32.5 | ) |  | $ | 9.8 |  |  | $ | (22.7 | ) |  | $ | — |
Net gain on derivatives | 6.5 |  |  | (1.5 | ) |  | 5.0 |  |  | — |
Foreign currency translation adjustments | (61.1 | ) |  | — |  |  | (61.1 | ) |  | (1.6 | )
Total components of other comprehensive loss | $ | (87.1 | ) |  | $ | 8.3 |  |  | $ | (78.8 | ) |  | $ | (1.6 | )
| AGCO Corporation and Subsidiaries |  | Noncontrolling Interests
| 2011 |  | 2011
| Before-tax Amount |  | Income Taxes |  | After-tax Amount |  | After-tax Amount
Defined benefit pension plans | $ | (76.0 | ) |  | $ | 14.9 |  |  | $ | (61.1 | ) |  | $ | — |
Net loss on derivatives | (7.1 | ) |  | 1.7 |  |  | (5.4 | ) |  | — |
Unrealized gain on derivatives held by affiliates | 2.5 |  |  | — |  |  | 2.5 |  |  | — |
Foreign currency translation adjustments | (204.5 | ) |  | — |  |  | (204.5 | ) |  | (0.1 | )
Total components of other comprehensive loss | $ | (285.1 | ) |  | $ | 16.6 |  |  | $ | (268.5 | ) |  | $ | (0.1 | )

X
- Details
Name: | agco_OperationsAndSummaryOfSignificantAccountingPoliciesAbstract
Namespace Prefix: | agco_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule of Components of Interest Expense, Net [Table Text Block] + References No definition available. + Details
Name: | agco_ScheduleOfComponentsOfInterestExpenseNetTableTextBlock
Namespace Prefix: | agco_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Trade Allowances and Sales Incentive Discounts [Table Text Block] + References No definition available. + Details
Name: | agco_TradeAllowancesAndSalesIncentiveDiscountsTableTextBlock
Namespace Prefix: | agco_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.13) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 13 -Subparagraph b -Article 5 + Details
Name: | us-gaap_PropertyPlantAndEquipmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of accrued liabilities. + References No definition available. + Details
Name: | us-gaap_ScheduleOfAccruedLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the characteristics, including initial carrying value, residual amount, weighted average useful life, of finite-lived intangible assets acquired during the period by major class. A major class is composed of intangible assets that can be grouped together because they are similar, either by nature or by their use in the operations of the company. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=26713463&loc=d3e16265-109275 + Details
Name: | us-gaap_ScheduleOfAcquiredFiniteLivedIntangibleAssetsByMajorClassTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of components of comprehensive income (loss). Includes, but is not limited to, foreign currency translation adjustments, foreign currency transactions designated as economic hedges of a net investment in foreign entity, gain (loss) and prior service cost (credit) for pension plans and other postretirement benefit plans. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=28358780&loc=d3e526-108580 + Details
Name: | us-gaap_ScheduleOfComprehensiveIncomeLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 + Details
Name: | us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the allocation of equity-based compensation costs to a given line item on the balance sheet and income statement for the period. This may include the reporting line for the costs and the amount capitalized and expensed. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB TOPIC 14.F) -URI http://asc.fasb.org/extlink&oid=27013229&loc=d3e301413-122809 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 14 -Section F Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule. + References Reference 1: 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=14024403&loc=d3e13816-109267 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=14024403&loc=d3e13854-109267 + Details
Name: | us-gaap_ScheduleOfGoodwillTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assets, excluding financial assets and goodwill, lacking physical substance and exist in perpetuity, by either major class or business segment. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=26713463&loc=d3e16323-109275 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 3 -Subparagraph (b),(d) -URI http://asc.fasb.org/extlink&oid=26713463&loc=d3e16373-109275 + Details
Name: | us-gaap_ScheduleOfIndefiniteLivedIntangibleAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the carrying amount as of the balance sheet date of merchandise, goods, commodities, or supplies held for future sale or to be used in manufacturing, servicing or production process. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 2 -Paragraph 6 -Subparagraph a,b,c -Article 5 + Details
Name: | us-gaap_ScheduleOfInventoryCurrentTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the changes in the guarantor's aggregate product warranty liability, including the beginning balance of the aggregate product warranty liability, the aggregate reductions in that liability for payments made (in cash or in kind) under the warranty, the aggregate changes in the liability for accruals related to product warranties issued during the reporting period, the aggregate changes in the liability for accruals related to preexisting warranties (including adjustments related to changes in estimates), and the ending balance of the aggregate product warranty liability. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 460 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=6398077&loc=d3e12565-110249 + Details
Name: | us-gaap_ScheduleOfProductWarrantyLiabilityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration