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Changes in Stockholders' Equity | 6 Months Ended
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Jun. 30, 2019
Stockholders' Equity Note [Abstract] |
Changes in Stockholders' Equity | CHANGES IN STOCKHOLDERS’ EQUITY The following tables set forth changes in stockholders’ equity attributed to AGCO Corporation and its subsidiaries and to noncontrolling interests for the three and six months ended June 30, 2019 (in millions):
| Common Stock |  | Additional Paid-in Capital |  | Retained Earnings |  | Accumulated Other Comprehensive Loss |  | Noncontrolling Interests |  | Total Stockholders’ Equity
Balance, March 31, 2019 | $ | 0.8 |  |  | $ | 9.7 |  |  | $ | 4,491.0 |  |  | $ | (1,545.8 | ) |  | $ | 63.3 |  |  | $ | 3,019.0 |
Stock compensation | — |  |  | 12.3 |  |  | — |  |  | — |  |  | — |  |  | 12.3 |
Issuance of stock awards | — |  |  | (0.2 | ) |  | (0.1 | ) |  | — |  |  | — |  |  | (0.3 | )
SSARs exercised | — |  |  | (3.1 | ) |  | — |  |  | — |  |  | — |  |  | (3.1 | )
Comprehensive income: |  |  |  |  |  |  |  |  |  |  |
Net income (loss) | — |  |  | — |  |  | 140.8 |  |  | — |  |  | (0.4 | ) |  | 140.4 |
Other comprehensive income, net of reclassification adjustments: |  |  |  |  |  |  |  |  |  |  |
Foreign currency translation adjustments | — |  |  | — |  |  | — |  |  | 3.7 |  |  | 0.7 |  |  | 4.4 |
Defined benefit pension plans, net of tax | — |  |  | — |  |  | — |  |  | 3.0 |  |  | — |  |  | 3.0 |
Deferred gains and losses on derivatives, net of tax | — |  |  | — |  |  | — |  |  | 4.8 |  |  | — |  |  | 4.8 |
Payment of dividends to stockholders | — |  |  | — |  |  | (12.2 | ) |  | — |  |  | — |  |  | (12.2 | )
Purchases and retirement of common stock | — |  |  | (11.6 | ) |  | (28.4 | ) |  | — |  |  | — |  |  | (40.0 | )
Investment by noncontrolling interests | — |  |  | — |  |  | — |  |  | — |  |  | 0.4 |  |  | 0.4 |
Balance, June 30, 2019 | $ | 0.8 |  |  | $ | 7.1 |  |  | $ | 4,591.1 |  |  | $ | (1,534.3 | ) |  | $ | 64.0 |  |  | $ | 3,128.7 |
| Common Stock |  | Additional Paid-in Capital |  | Retained Earnings |  | Accumulated Other Comprehensive Loss |  | Noncontrolling Interests |  | Total Stockholders’ Equity
Balance, December 31, 2018 | $ | 0.8 |  |  | $ | 10.2 |  |  | $ | 4,477.3 |  |  | $ | (1,555.4 | ) |  | $ | 60.6 |  |  | $ | 2,993.5 |
Stock compensation | — |  |  | 24.8 |  |  | — |  |  | — |  |  | — |  |  | 24.8 |
Issuance of stock awards | — |  |  | (13.2 | ) |  | (9.7 | ) |  | — |  |  | — |  |  | (22.9 | )
SSARs exercised | — |  |  | (3.1 | ) |  | (0.3 | ) |  | — |  |  | — |  |  | (3.4 | )
Comprehensive income: |  |  |  |  |  |  |  |  |  |  |
Net income | — |  |  | — |  |  | 205.9 |  |  | — |  |  | 0.2 |  |  | 206.1 |
Other comprehensive income, net of reclassification adjustments: |  |  |  |  |  |  |  |  |  |  |
Foreign currency translation adjustments | — |  |  | — |  |  | — |  |  | 14.4 |  |  | 2.2 |  |  | 16.6 |
Defined benefit pension plans, net of tax | — |  |  | — |  |  | — |  |  | 6.0 |  |  | — |  |  | 6.0 |
Deferred gains and losses on derivatives, net of tax | — |  |  | — |  |  | — |  |  | 0.7 |  |  | — |  |  | 0.7 |
Payment of dividends to stockholders | — |  |  | — |  |  | (23.7 | ) |  | — |  |  | — |  |  | (23.7 | )
Purchases and retirement of common stock | — |  |  | (11.6 | ) |  | (58.4 | ) |  | — |  |  | — |  |  | (70.0 | )
Investment by noncontrolling interests | — |  |  | — |  |  | — |  |  | — |  |  | 1.0 |  |  | 1.0 |
Balance, June 30, 2019 | $ | 0.8 |  |  | $ | 7.1 |  |  | $ | 4,591.1 |  |  | $ | (1,534.3 | ) |  | $ | 64.0 |  |  | $ | 3,128.7 |
The following tables set forth changes in stockholders’ equity attributed to AGCO Corporation and its subsidiaries and to noncontrolling interests for the three and six months ended June 30, 2018 (in millions):
| Common Stock |  | Additional Paid-in Capital |  | Retained Earnings |  | Accumulated Other Comprehensive Loss |  | Noncontrolling Interests |  | Total Stockholders’ Equity
Balance, March 31, 2018 | $ | 0.8 |  |  | $ | 135.3 |  |  | $ | 4,266.6 |  |  | $ | (1,349.8 | ) |  | $ | 66.5 |  |  | $ | 3,119.4 |
Stock compensation | — |  |  | 13.3 |  |  | — |  |  | — |  |  | — |  |  | 13.3 |
Issuance of stock awards | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
SSARs exercised | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Comprehensive income: |  |  |  |  |  |  |  |  |  |  |
Net income (loss) | — |  |  | — |  |  | 91.4 |  |  | — |  |  | (1.0 | ) |  | 90.4 |
Other comprehensive income, net of reclassification adjustments: |  |  |  |  |  |  |  |  |  |  |
Foreign currency translation adjustments | — |  |  | — |  |  | — |  |  | (188.2 | ) |  | (2.2 | ) |  | (190.4 | )
Defined benefit pension plans, net of tax | — |  |  | — |  |  | — |  |  | 3.0 |  |  | — |  |  | 3.0 |
Deferred gains and losses on derivatives, net of tax | — |  |  | — |  |  | — |  |  | 1.5 |  |  | — |  |  | 1.5 |
Payment of dividends to stockholders | — |  |  | — |  |  | (11.9 | ) |  | — |  |  | — |  |  | (11.9 | )
Purchases and retirement of common stock | — |  |  | (27.2 | ) |  | — |  |  | — |  |  | — |  |  | (27.2 | )
Adjustment related to the adoption of ASU 2014-09 | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Balance, June 30, 2018 | $ | 0.8 |  |  | $ | 121.4 |  |  | $ | 4,346.1 |  |  | $ | (1,533.5 | ) |  | $ | 63.3 |  |  | $ | 2,998.1 |
| Common Stock |  | Additional Paid-in Capital |  | Retained Earnings |  | Accumulated Other Comprehensive Loss |  | Noncontrolling Interests |  | Total Stockholders’ Equity
Balance, December 31, 2017 | $ | 0.8 |  |  | $ | 136.6 |  |  | $ | 4,253.8 |  |  | $ | (1,361.6 | ) |  | $ | 65.7 |  |  | $ | 3,095.3 |
Stock compensation | — |  |  | 22.5 |  |  | — |  |  | — |  |  | — |  |  | 22.5 |
Issuance of stock awards | — |  |  | (3.0 | ) |  | — |  |  | — |  |  | — |  |  | (3.0 | )
SSARs exercised | — |  |  | (0.4 | ) |  | — |  |  | — |  |  | — |  |  | (0.4 | )
Comprehensive income: |  |  |  |  |  |  |  |  |  |  |
Net income (loss) | — |  |  | — |  |  | 115.7 |  |  | — |  |  | (0.3 | ) |  | 115.4 |
Other comprehensive income, net of reclassification adjustments: |  |  |  |  |  |  |  |  |  |  |
Foreign currency translation adjustments | — |  |  | — |  |  | — |  |  | (178.6 | ) |  | (2.1 | ) |  | (180.7 | )
Defined benefit pension plans, net of tax | — |  |  | — |  |  | — |  |  | 6.1 |  |  | — |  |  | 6.1 |
Deferred gains and losses on derivatives, net of tax | — |  |  | — |  |  | — |  |  | 0.6 |  |  | — |  |  | 0.6 |
Payment of dividends to stockholders | — |  |  | — |  |  | (23.8 | ) |  | — |  |  | — |  |  | (23.8 | )
Purchases and retirement of common stock | — |  |  | (34.3 | ) |  | — |  |  | — |  |  | — |  |  | (34.3 | )
Adjustment related to the adoption of ASU 2014-09 | — |  |  | — |  |  | 0.4 |  |  | — |  |  | — |  |  | 0.4 |
Balance, June 30, 2018 | $ | 0.8 |  |  | $ | 121.4 |  |  | $ | 4,346.1 |  |  | $ | (1,533.5 | ) |  | $ | 63.3 |  |  | $ | 2,998.1 |
Total comprehensive income attributable to noncontrolling interests for the three and six months ended June 30, 2019 and 2018 was as follows (in millions):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2019 |  | 2018 |  | 2019 |  | 2018
Net (loss) income | $ | (0.4 | ) |  | $ | (1.0 | ) |  | $ | 0.2 |  |  | $ | (0.3 | )
Other comprehensive income (loss): |  |  |  |  |  |  |
Foreign currency translation adjustments | 0.7 |  |  | (2.2 | ) |  | 2.2 |  |  | (2.1 | )
Total comprehensive income (loss) | $ | 0.3 |  |  | $ | (3.2 | ) |  | $ | 2.4 |  |  | $ | (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 six months ended June 30, 2019 (in millions):
| Defined Benefit Pension Plans |  | Deferred Net Gains (Losses) on Derivatives |  | Cumulative Translation Adjustment |  | Total
Accumulated other comprehensive loss, December 31, 2018 | $ | (282.4 | ) |  | $ | 1.4 |  |  | $ | (1,274.4 | ) |  | $ | (1,555.4 | )
Other comprehensive (loss) income before reclassifications | — |  |  | (0.4 | ) |  | 14.4 |  |  | 14.0 |
Net losses reclassified from accumulated other comprehensive loss | 6.0 |  |  | 1.1 |  |  | — |  |  | 7.1 |
Other comprehensive income, net of reclassification adjustments | 6.0 |  |  | 0.7 |  |  | 14.4 |  |  | 21.1 |
Accumulated other comprehensive loss, June 30, 2019 | $ | (276.4 | ) |  | $ | 2.1 |  |  | $ | (1,260.0 | ) |  | $ | (1,534.3 | )
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 June 30, 2019 and 2018 (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 June 30, 2019(1) |  | Three Months Ended June 30, 2018(1) |
Derivatives: |  |  |  |  |  |
Net losses on foreign currency contracts |  | $ | 0.5 |  |  | $ | 0.9 |  |  | Cost of goods sold
Net losses on interest rate swap contract |  | — |  |  | 0.7 |  |  | Interest expense, net
Reclassification before tax |  | 0.5 |  |  | 1.6 |  |  |
|  | — |  |  | (0.1 | ) |  | Income tax provision
Reclassification net of tax |  | $ | 0.5 |  |  | $ | 1.5 |  |  |
Defined benefit pension plans: |  |  |  |  |  |
Amortization of net actuarial losses |  | $ | 3.0 |  |  | $ | 3.2 |  |  | Other expense, net(2)
Amortization of prior service cost |  | 0.5 |  |  | 0.3 |  |  | Other expense, net(2)
Reclassification before tax |  | 3.5 |  |  | 3.5 |  |  |
|  | (0.5 | ) |  | (0.5 | ) |  | Income tax provision
Reclassification net of tax |  | $ | 3.0 |  |  | $ | 3.0 |  |  |
Net losses reclassified from accumulated other comprehensive loss |  | $ | 3.5 |  |  | $ | 4.5 |  |  |
(1) Losses included within the Condensed Consolidated Statements of Operations for the three months ended June 30, 2019 and 2018. (2) These accumulated other comprehensive loss components are included in the computation of net periodic pension and postretirement benefit cost. See Note 14 for additional information on the Company’s defined benefit pension plans. The following table sets forth reclassification adjustments out of accumulated other comprehensive loss by component attributed to AGCO Corporation and its subsidiaries for the six months ended June 30, 2019 and 2018 (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 |  | Six Months Ended June 30, 2019(1) |  | Six Months Ended June 30, 2018(1) |
Derivatives: |  |  |  |  |  |
Net losses on foreign currency contracts |  | $ | 1.1 |  |  | $ | 1.5 |  |  | Cost of goods sold
Net losses on interest rate swap contract |  | — |  |  | 1.3 |  |  | Interest expense, net
Reclassification before tax |  | 1.1 |  |  | 2.8 |  |  |
|  | — |  |  | (0.1 | ) |  | Income tax provision
Reclassification net of tax |  | $ | 1.1 |  |  | $ | 2.7 |  |  |
Defined benefit pension plans: |  |  |  |  |  |
Amortization of net actuarial losses |  | $ | 6.1 |  |  | $ | 6.3 |  |  | Other expense, net(2)
Amortization of prior service cost |  | 0.9 |  |  | 0.7 |  |  | Other expense, net(2)
Reclassification before tax |  | 7.0 |  |  | 7.0 |  |  |
|  | (1.0 | ) |  | (0.9 | ) |  | Income tax provision
Reclassification net of tax |  | $ | 6.0 |  |  | $ | 6.1 |  |  |
Net losses reclassified from accumulated other comprehensive loss |  | $ | 7.1 |  |  | $ | 8.8 |  |  |
(1) Losses included within the Condensed Consolidated Statements of Operations for the six months ended June 30, 2019 and 2018. (2) These accumulated other comprehensive loss components are included in the computation of net periodic pension and postretirement benefit cost. See Note 14 for additional information on the Company’s defined benefit pension plans. Share Repurchase Program During the six months ended June 30, 2019, the Company entered into accelerated share repurchase (“ASR”) agreements with a financial institution to repurchase an aggregate of $70.0 million of shares of its common stock. The Company received approximately 912,624 shares during the six months ended June 30, 2019 related to the ASR agreements. The specific number of shares the Company ultimately repurchased was determined at the completion of the term of the ASR based on the daily volume-weighted average share price of the Company’s common stock less an agreed upon discount. Upon settlement of the ASR, the Company was entitled to receive additional shares of common stock or, under certain circumstances, was required to remit a settlement amount. In July 2019, the Company received an additional 80,227 shares of common stock upon final settlement of an ASR. All shares received under the ASR agreement were retired upon receipt, and the excess of the purchase price over par value per share was recorded to a combination of “Additional paid-in capital” and “Retained earnings” within the Company’s Condensed Consolidated Balance Sheets. As of June 30, 2019, the remaining amount authorized to be repurchased was approximately $77.1 million, which expires in December 2019.

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- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 + Details
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