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Operations and Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2016
Accounting Policies [Abstract]  
Accounts Receivable Outstanding as a Percent of Net Sales
The following summarizes by geographic region, as a percentage of our consolidated net sales, amounts with maximum interest-free periods as presented below (in millions):

Year Ended December 31, 2016
North
America
 
South
America
 
Europe/Africa/
Middle East
 
Asia/Pacific
 
Consolidated
0 to 6 months
$
1,370.9

 
$
917.5

 
$
4,194.2

 
$
479.3

 
$
6,961.9

 
94.0
%
7 to 12 months
391.6

 
—

 
11.8

 
—

 
403.4

 
5.4
%
13 to 24 months
45.2

 
—

 
—

 
—

 
45.2

 
0.6
%
 
$
1,807.7

 
$
917.5

 
$
4,206.0

 
$
479.3

 
$
7,410.5

 
100.0
%
Trade Allowances and Sales Incentive Discounts
Accounts and notes receivable allowances at December 31, 2016 and 2015 were as follows (in millions):
 
2016
 
2015
Sales incentive discounts
$
34.5

 
$
24.5

Doubtful accounts
33.7

 
29.3

 
$
68.2

 
$
53.8
Schedule of Inventory, Current
Inventories, net at December 31, 2016 and 2015 were as follows (in millions):
 
2016
 
2015
Finished goods
$
589.3

 
$
523.1

Repair and replacement parts
532.5

 
515.4

Work in process
113.8

 
97.5

Raw materials
279.2

 
287.4

Inventories, net
$
1,514.8

 
$
1,423.4
Property, Plant and Equipment
Property, plant and equipment, net at December 31, 2016 and 2015 consisted of the following (in millions):
 
2016
 
2015
Land
$
112.1

 
$
105.7

Buildings and improvements
681.8

 
637.4

Machinery and equipment
2,116.1

 
1,966.8

Furniture and fixtures
126.4

 
120.0

Gross property, plant and equipment
3,036.4

 
2,829.9

Accumulated depreciation and amortization
(1,675.1
)
 
(1,482.8
)
Property, plant and equipment, net
$
1,361.3

 
$
1,347.1
Schedule of Goodwill
Changes in the carrying amount of goodwill during the years ended December 31, 2016, 2015 and 2014 are summarized as follows (in millions):
 
North
America
 
South
America
 
Europe/Africa/
Middle East
 
Asia/Pacific
 
Consolidated
Balance as of December 31, 2013
$
424.0

 
$
190.7

 
$
506.6

 
$
57.4

 
$
1,178.7

Acquisition
89.6

 
—

 
—

 
—

 
89.6

Foreign currency translation
—

 
(21.0
)
 
(52.0
)
 
(2.5
)
 
(75.5
)
Balance as of December 31, 2014
513.6

 
169.7

 
454.6

 
54.9

 
1,192.8

Acquisition
5.1

 
—

 
9.3

 
7.8

 
22.2

Foreign currency translation
—

 
(55.3
)
 
(38.7
)
 
(6.5
)
 
(100.5
)
Balance as of December 31, 2015
518.7

 
114.4

 
425.2

 
56.2

 
1,114.5

Acquisition
25.2

 
—

 
244.0

 
—

 
269.2

Foreign currency translation
—

 
24.4

 
(28.7
)
 
(3.0
)
 
(7.3
)
Balance as of December 31, 2016
$
543.9

 
$
138.8

 
$
640.5

 
$
53.2

 
$
1,376.4
Schedule of Acquired Finite-Lived Intangible Assets by Major Class
The acquired intangible assets have a weighted average useful life as follows:
Intangible Asset
 
Weighted-Average
Useful Life
Patents and technology
 
12
years
Customer relationships
 
13
years
Trademarks and trade names
 
19
years
Land use rights
 
45
years
Changes in the carrying amount of acquired intangible assets during 2016 and 2015 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, 2014
$
123.5

 
$
513.8

 
$
94.0

 
$
9.7

 
$
741.0

Acquisition
1.9

 
4.1

 
3.6

 
—

 
9.6

Foreign currency translation
(3.2
)
 
(25.6
)
 
(5.1
)
 
(0.6
)
 
(34.5
)
Balance as of December 31, 2015
122.2

 
492.3

 
92.5

 
9.1

 
716.1

Acquisition
61.2

 
69.0

 
32.3

 
—

 
162.5

Foreign currency translation
(4.2
)
 
(3.3
)
 
(2.7
)
 
(0.6
)
 
(10.8
)
Balance as of December 31, 2016
$
179.2

 
$
558.0

 
$
122.1

 
$
8.5

 
$
867.8


 
Trademarks and
Trade Names
 
Customer
Relationships
 
Patents and
Technology
 
Land Use Rights
 
Total
Accumulated amortization:
 

 
 

 
 

 
 
 
 

Balance as of December 31, 2014
$
36.4

 
$
180.8

 
$
56.1

 
$
2.9

 
$
276.2

Amortization expense
6.6

 
32.0

 
3.9

 
0.2

 
42.7

Foreign currency translation
(1.1
)
 
(19.0
)
 
(4.9
)
 
(0.2
)
 
(25.2
)
Balance as of December 31, 2015
41.9

 
193.8

 
55.1

 
2.9

 
293.7

Amortization expense
8.0

 
37.4

 
5.6

 
0.2

 
51.2

Foreign currency translation
(0.2
)
 
1.8

 
(1.2
)
 
(0.4
)
 
—

Balance as of December 31, 2016
$
49.7

 
$
233.0

 
$
59.5

 
$
2.7

 
$
344.9
Schedule of Indefinite-lived Intangible Assets by Major Class
 
Trademarks and
Trade Names
Indefinite-lived intangible assets:
 

Balance as of December 31, 2014
$
89.0

Foreign currency translation
(3.7
)
Balance as of December 31, 2015
85.3

Foreign currency translation
(0.9
)
Balance as of December 31, 2016
$
84.4
Schedule of Accrued Liabilities
Accrued expenses at December 31, 2016 and 2015 consisted of the following (in millions):
 
2016
 
2015
Reserve for volume discounts and sales incentives
$
407.3

 
$
443.3

Warranty reserves
223.1

 
195.2

Accrued employee compensation and benefits
234.0

 
213.7

Accrued taxes
113.5

 
87.3

Other
182.9

 
167.4

 
$
1,160.8

 
$
1,106.9
Schedule of Product Warranty Liability
The warranty reserve activity for the years ended December 31, 2016, 2015 and 2014 consisted of the following (in millions):
 
2016
 
2015
 
2014
Balance at beginning of the year
$
230.3

 
$
284.6

 
$
294.9

Acquisitions
3.7

 
0.2

 
0.5

Accruals for warranties issued during the year
214.6

 
152.6

 
214.1

Settlements made (in cash or in kind) during the year
(188.7
)
 
(186.2
)
 
(205.5
)
Foreign currency translation
(4.3
)
 
(20.9
)
 
(19.4
)
Balance at the end of the year
$
255.6

 
$
230.3

 
$
284.6
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs
Stock compensation expense (credit) was recorded as follows (in millions). Refer to Note 10 for additional information regarding the Company’s stock incentive plans during 2016, 2015 and 2014:
 
Years Ended December 31,
 
2016
 
2015
 
2014
Cost of goods sold
$
1.5

 
$
0.9

 
$
(0.9
)
Selling, general and administrative expenses
16.9

 
11.6

 
(9.7
)
Total stock compensation expense (credit)
$
18.4

 
$
12.5

 
$
(10.6
)
Schedule of Components of Interest Expense, Net
Interest expense, net for the years ended December 31, 2016, 2015 and 2014 consisted of the following (in millions):
 
2016
 
2015
 
2014
Interest expense
$
65.4

 
$
64.1

 
$
71.9

Interest income
(13.3
)
 
(18.7
)
 
(13.5
)
 
$
52.1

 
$
45.4

 
$
58.4
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, 2016, 2015 and 2014 is as follows (in millions, except per share data):
 
2016
 
2015
 
2014
Basic net income per share:
 

 
 

 
 

Net income attributable to AGCO Corporation and subsidiaries
$
160.1

 
$
266.4

 
$
410.4

Weighted average number of common shares outstanding
81.4

 
87.0

 
93.4

Basic net income per share attributable to AGCO Corporation and subsidiaries
$
1.97

 
$
3.06

 
$
4.39

Diluted net income per share:
 

 
 

 
 

Net income attributable to AGCO Corporation and subsidiaries
$
160.1

 
$
266.4

 
$
410.4

Weighted average number of common shares outstanding
81.4

 
87.0

 
93.4

Dilutive SSARs, performance share awards and restricted stock units
0.3

 
0.1

 
0.3

Weighted average assumed conversion of contingently convertible senior subordinated notes
—

 
—

 
0.5

Weighted average number of common shares and common share equivalents outstanding for purposes of computing diluted net income per share
81.7

 
87.1

 
94.2

Diluted net income per share attributable to AGCO Corporation and subsidiaries
$
1.96

 
$
3.06

 
$
4.36
Schedule of Comprehensive Income (Loss)
The components of other comprehensive income (loss) and the related tax effects for the years ended December 31, 2016, 2015 and 2014 are as follows (in millions):
 
AGCO Corporation and Subsidiaries
 
Noncontrolling
Interests
 
2016
 
2016
 
Before-tax
Amount
 
Income
Taxes
 
After-tax
Amount
 
After-tax
Amount
Defined benefit pension plans
$
(68.2
)
 
$
12.7

 
$
(55.5
)
 
$
—

Net loss on derivatives
(6.8
)
 
0.1

 
(6.7
)
 
—

Foreign currency translation adjustments
80.8

 
—

 
80.8

 
1.6

Total components of other comprehensive income
$
5.8

 
$
12.8

 
$
18.6

 
$
1.6


 
AGCO Corporation and Subsidiaries
 
Noncontrolling
Interests
 
2015
 
2015
 
Before-tax
Amount
 
Income
Taxes
 
After-tax
Amount
 
After-tax
Amount
Defined benefit pension plans
$
4.9

 
$
(0.6
)
 
$
4.3

 
$
—

Net loss on derivatives
(3.1
)
 
1.2

 
(1.9
)
 
—

Foreign currency translation adjustments
(556.1
)
 
—

 
(556.1
)
 
(2.1
)
Total components of other comprehensive loss
$
(554.3
)
 
$
0.6

 
$
(553.7
)
 
$
(2.1
)

 
AGCO Corporation and Subsidiaries
 
Noncontrolling
Interests
 
2014
 
2014
 
Before-tax
Amount
 
Income
Taxes
 
After-tax
Amount
 
After-tax
Amount
Defined benefit pension plans
$
(62.1
)
 
$
15.2

 
$
(46.9
)
 
$
—

Net gain on derivatives
0.1

 
—

 
0.1

 
—

Foreign currency translation adjustments
(349.0
)
 
—

 
(349.0
)
 
(0.3
)
Total components of other comprehensive loss
$
(411.0
)
 
$
15.2

 
$
(395.8
)
 
$
(0.3
)