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Changes in Stockholders' Equity
 3 Months Ended
Mar. 31, 2017
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 three months ended March 31, 2017 (in millions):
 
Common
Stock
 
Additional
Paid-in
Capital
 
Retained
Earnings
 
Accumulated
Other
Comprehensive
Loss
 
Noncontrolling
Interests
 
Total Stockholders’
Equity
Balance, December 31, 2016
$
0.8

 
$
103.3

 
$
4,113.6

 
$
(1,441.6
)
 
$
61.1

 
$
2,837.2

Stock compensation
—

 
13.7

 
—

 
—

 
—

 
13.7

Issuance of stock awards
—

 
(2.1
)
 
—

 
—

 
—

 
(2.1
)
SSARs exercised
—

 
(0.9
)
 
—

 
—

 
—

 
(0.9
)
Comprehensive income:
 
 
 
 
 
 
 
 
 
 
 
Net (loss) income
—

 
—

 
(10.1
)
 
—

 
1.9

 
(8.2
)
Other comprehensive income, net of reclassification adjustments:
 
 
 
 
 
 
 
 
 
 
 
Foreign currency translation adjustments
—

 
—

 
—

 
41.1

 
1.6

 
42.7

Defined benefit pension plans, net of tax
—

 
—

 
—

 
2.9

 
—

 
2.9

Unrealized gain on derivatives, net of tax
—

 
—

 
—

 
3.3

 
—

 
3.3

Payment of dividends to stockholders
—

 
—

 
(11.1
)
 
—

 
—

 
(11.1
)
Investment by noncontrolling interests
—

 
—

 
—

 
—

 
0.2

 
0.2

Adjustment related to the adoption of ASU 2016-09
—

 
—

 
(1.7
)
 
—

 
—

 
(1.7
)
Balance, March 31, 2017
$
0.8

 
$
114.0

 
$
4,090.7

 
$
(1,394.3
)
 
$
64.8

 
$
2,876.0


    
Total comprehensive income attributable to noncontrolling interests for the three months ended March 31, 2017 and 2016 was as follows (in millions):
 
Three Months Ended March 31,
 
2017
 
2016
Net income
$
1.9

 
$
2.4

Other comprehensive income:
 
 
 
Foreign currency translation adjustments
1.6

 
—

Total comprehensive income
$
3.5

 
$
2.4


    
    
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 three months ended March 31, 2017 (in millions):
 
Defined Benefit Pension Plans
 
Deferred Net (Losses) Gains on Derivatives
 
Cumulative Translation Adjustment
 
Total
Accumulated other comprehensive loss, December 31, 2016
$
(304.5
)
 
$
(8.7
)
 
$
(1,128.4
)
 
$
(1,441.6
)
Other comprehensive income before reclassifications
—

 
2.0

 
41.1

 
43.1

Net losses reclassified from accumulated other comprehensive loss
2.9

 
1.3

 
—

 
4.2

Other comprehensive income, net of reclassification adjustments
2.9

 
3.3

 
41.1

 
47.3

Accumulated other comprehensive loss, March 31, 2017
$
(301.6
)
 
$
(5.4
)
 
$
(1,087.3
)
 
$
(1,394.3
)


        
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 March 31, 2017 and 2016 (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 March 31, 2017(1)
 
Three Months Ended March 31, 2016(1)
Derivatives:
 
 
 
 
 
    Net losses on foreign currency contracts
 
$
0.7

 
$
—

Cost of goods sold
    Net losses on interest rate contracts
 
0.6

 
0.4

Interest expense, net
Reclassification before tax
 
1.3

 
0.4

 
 
 
—

 
(0.2
)
Income tax provision
Reclassification net of tax
 
$
1.3

 
$
0.2

 
 
 
 
 
 
 
Defined benefit pension plans:
 
 
 
 
 
Amortization of net actuarial losses
 
$
3.0

 
$
2.6

(2) 
Amortization of prior service cost
 
0.4

 
0.3

(2) 
Reclassification before tax
 
3.4

 
2.9

 
 
 
(0.5
)
 
(0.7
)
Income tax provision
Reclassification net of tax
 
$
2.9

 
$
2.2

 
 
 
 
 
 
 
Net losses reclassified from accumulated other comprehensive loss
 
$
4.2

 
$
2.4

 
____________________________________
(1) Losses included within the Condensed Consolidated Statements of Operations for the three months ended March 31, 2017 and 2016.
(2) These accumulated other comprehensive loss components are included in the computation of net periodic pension and postretirement benefit cost. See Note 13 to the Company’s Condensed Consolidated Financial Statements.
 
 
 
 
 
 

Share Repurchase Program

As of March 31, 2017, the remaining amount authorized to be repurchased is approximately $331.4 million. The authorization for $300.0 million of this amount will expire in December 2019. The remaining amount of $31.4 million authorized has no expiration date.