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Changes in Stockholders' Equity | 9 Months Ended
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Sep. 30, 2015
Stockholders' Equity Note [Abstract] |
Changes in Stockholders' Equity | CHANGES IN STOCKHOLDERS’ EQUITY The following table sets forth changes in stockholders’ equity attributed to AGCO Corporation and its subsidiaries and to noncontrolling interests for the nine months ended September 30, 2015 (in millions):
| Common Stock |  | Additional Paid-in Capital |  | Retained Earnings |  | Accumulated Other Comprehensive Loss |  | Noncontrolling Interests |  | Total Stockholders’ Equity
Balance, December 31, 2014 | $ | 0.9 |  |  | $ | 582.5 |  |  | $ | 3,771.6 |  |  | $ | (906.5 | ) |  | $ | 48.4 |  |  | $ | 3,496.9 |
Stock compensation | — |  |  | 10.6 |  |  | — |  |  | — |  |  | — |  |  | 10.6 |
Issuance of performance award stock | — |  |  | (5.5 | ) |  | — |  |  | — |  |  | — |  |  | (5.5 | )
SSARs exercised | — |  |  | (0.6 | ) |  | — |  |  | — |  |  | — |  |  | (0.6 | )
Comprehensive income (loss): |  |  |  |  |  |  |  |  |  |  |
Net income (loss) | — |  |  | — |  |  | 204.3 |  |  | — |  |  | (1.6 | ) |  | 202.7 |
Other comprehensive loss, net of reclassification adjustments: |  |  |  |  |  |  |  |  |  |  |
Foreign currency translation adjustments | — |  |  | — |  |  | — |  |  | (515.7 | ) |  | (1.8 | ) |  | (517.5 | )
Defined benefit pension plans, net of tax | — |  |  | — |  |  | — |  |  | 6.7 |  |  | — |  |  | 6.7 |
Unrealized loss on derivatives, net of tax | — |  |  | — |  |  | — |  |  | (1.7 | ) |  | — |  |  | (1.7 | )
Payment of dividends to stockholders | — |  |  | — |  |  | (31.7 | ) |  | — |  |  | — |  |  | (31.7 | )
Purchases and retirement of common stock | — |  |  | (187.5 | ) |  | — |  |  | — |  |  | — |  |  | (187.5 | )
Changes in noncontrolling interest | — |  |  | — |  |  | — |  |  | — |  |  | 1.1 |  |  | 1.1 |
Balance, September 30, 2015 | $ | 0.9 |  |  | $ | 399.5 |  |  | $ | 3,944.2 |  |  | $ | (1,417.2 | ) |  | $ | 46.1 |  |  | $ | 2,973.5 |
Total comprehensive loss attributable to noncontrolling interests for the three and nine months ended September 30, 2015 and to noncontrolling interests and redeemable noncontrolling interest for the three and nine months ended September 30, 2014 was as follows (in millions):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2015 |  | 2014 |  | 2015 |  | 2014
Net income (loss) | $ | 0.1 |  |  | $ | (2.5 | ) |  | $ | (1.6 | ) |  | $ | (5.1 | )
Other comprehensive loss: |  |  |  |  |  |  |
Foreign currency translation adjustments | (2.6 | ) |  | — |  |  | (1.8 | ) |  | (0.3 | )
Total comprehensive loss | $ | (2.5 | ) |  | $ | (2.5 | ) |  | $ | (3.4 | ) |  | $ | (5.4 | )
The following table sets forth changes in accumulated other comprehensive loss by component, net of tax, attributed to AGCO Corporation and its subsidiaries for the nine months ended September 30, 2015 (in millions):
| Defined Benefit Pension Plans |  | Deferred Net (Losses) Gains on Derivatives |  | Cumulative Translation Adjustment |  | Total
Accumulated other comprehensive loss, December 31, 2014 | $ | (253.3 | ) |  | $ | (0.1 | ) |  | $ | (653.1 | ) |  | $ | (906.5 | )
Other comprehensive loss before reclassifications | — |  |  | (3.4 | ) |  | (515.7 | ) |  | (519.1 | )
Net losses reclassified from accumulated other comprehensive loss | 6.7 |  |  | 1.7 |  |  | — |  |  | 8.4 |
Other comprehensive income (loss), net of reclassification adjustments | 6.7 |  |  | (1.7 | ) |  | (515.7 | ) |  | (510.7 | )
Accumulated other comprehensive loss, September 30, 2015 | $ | (246.6 | ) |  | $ | (1.8 | ) |  | $ | (1,168.8 | ) |  | $ | (1,417.2 | )
The following table sets forth reclassification adjustments out of accumulated other comprehensive loss by component attributed to AGCO Corporation and its subsidiaries for the three months ended September 30, 2015 and 2014 (in millions):
|  | Amount Reclassified from Accumulated Other Comprehensive Loss | Affected Line Item within the Condensed Consolidated Statements of Operations
Details about Accumulated Other Comprehensive Loss Components |  | Three months ended September 30, 2015 (1) |  | Three months ended September 30, 2014 (1)
Derivatives: |  |  |  |  |
Net losses on foreign currency contracts |  | $ | 0.6 |  |  | $ | 0.3 |  | Cost of goods sold
Net losses on interest rate swap contracts |  | 0.1 |  |  | — |  | Interest expense, net
Reclassification before tax |  | 0.7 |  |  | 0.3 |  |
|  | (0.1 | ) |  | 0.1 |  | Income tax provision
Reclassification net of tax |  | $ | 0.6 |  |  | $ | 0.4 |  |
Defined benefit pension plans: |  |  |  |  |
Amortization of net actuarial loss |  | $ | 2.9 |  |  | $ | 2.2 |  | (2)
Amortization of prior service cost |  | 0.1 |  |  | 0.3 |  | (2)
Reclassification before tax |  | 3.0 |  |  | 2.5 |  |
|  | (0.7 | ) |  | (0.6 | ) | Income tax provision
Reclassification net of tax |  | $ | 2.3 |  |  | $ | 1.9 |  |
Net losses reclassified from accumulated other comprehensive loss |  | $ | 2.9 |  |  | $ | 2.3 |  |
____________________________________ (1) Losses included within the Condensed Consolidated Statements of Operations for the three months ended September 30, 2015 and 2014. (2) These accumulated other comprehensive loss components are included in the computation of net periodic pension and postretirement benefit cost. See Note 14 to the Company’s Condensed Consolidated Financial Statements. The following table sets forth reclassification adjustments out of accumulated other comprehensive loss by component attributed to AGCO Corporation and its subsidiaries for the nine months ended September 30, 2015 and 2014 (in millions):
|  | Amount Reclassified from Accumulated Other Comprehensive Loss | Affected Line Item within the Condensed Consolidated Statements of Operations
Details about Accumulated Other Comprehensive Loss Components |  | Nine months ended September 30, 2015 (1) |  | Nine months ended September 30, 2014 (1)
Derivatives: |  |  |  |  |
Net losses on foreign currency contracts |  | $ | 1.8 |  |  | $ | 0.2 |  | Cost of goods sold
Net losses on interest rate swap contracts |  | 0.1 |  |  | — |  | Interest expense, net
Reclassification before tax |  | 1.9 |  |  | 0.2 |  |
|  | (0.2 | ) |  | 0.2 |  | Income tax provision
Reclassification net of tax |  | $ | 1.7 |  |  | $ | 0.4 |  |
Defined benefit pension plans: |  |  |  |  |
Amortization of net actuarial loss |  | $ | 8.5 |  |  | $ | 6.6 |  | (2)
Amortization of prior service cost |  | 0.4 |  |  | 0.8 |  | (2)
Reclassification before tax |  | 8.9 |  |  | 7.4 |  |
|  | (2.2 | ) |  | (1.8 | ) | Income tax provision
Reclassification net of tax |  | $ | 6.7 |  |  | $ | 5.6 |  |
Net losses reclassified from accumulated other comprehensive loss |  | $ | 8.4 |  |  | $ | 6.0 |  |
____________________________________ (1) Losses included within the Condensed Consolidated Statements of Operations for the nine months ended September 30, 2015 and 2014. (2) These accumulated other comprehensive loss components are included in the computation of net periodic pension and postretirement benefit cost. See Note 14 to the Company’s Condensed Consolidated Financial Statements. Share Repurchase Program In June 2012, the Company’s Board of Directors approved a share repurchase program under which the Company can repurchase up to $50.0 million of its common stock. This share repurchase program does not have an expiration date. In December 2013, the Company’s Board of Directors approved an additional share repurchase program under which the Company can repurchase up to $500.0 million of its common stock through an expiration date of June 2015. In December 2014, the Company’s Board of Directors approved a third share repurchase program under which the Company can repurchase up to $500.0 million of shares of its common stock through December 2016. During the nine months ended September 30, 2015, the Company entered into accelerated share repurchase (“ASR”)agreements with a financial institution to repurchase an aggregate of $187.5 million of shares of the Company’s common stock. The Company received approximately 3,488,063 shares during the nine months ended September 30, 2015 related to the ASR agreements. All shares received under the ASR agreements were retired upon receipt, and the excess of the purchase price over par value per share was recorded to “Additional paid-in capital” within the Company’s Condensed Consolidated Balance Sheets. Of the $1,050.0 million in approved share repurchase programs, the remaining amount authorized to be repurchased is approximately $344.2 million.

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