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Changes in Stockholders' Equity
 6 Months Ended
Jun. 30, 2021
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, 2021 (in millions):
Common
Stock		Additional
Paid-in Capital		Retained
Earnings		Accumulated Other
Comprehensive Loss		Noncontrolling
Interests		Total Stockholders’
Equity
Balance, March 31, 2021$0.8 $5.7 $4,897.9 $(1,817.9)$38.2 $3,124.7 
Stock compensation— 8.4 — — — 8.4 
SSARs exercised— (2.4)— — — (2.4)
Comprehensive income:
Net income— — 282.8 — 1.6 284.4 
Other comprehensive income, net of reclassification adjustments:
Foreign currency translation adjustments
— — — 80.0 0.8 80.8 
Defined benefit pension plans, net of tax
— — — (6.0)— (6.0)
Deferred gains and losses on derivatives, net of tax
— — — 5.6 — 5.6 
Payment of dividends to stockholders
— — (316.6)— — (316.6)
Distributions to noncontrolling interest— — — — (3.5)(3.5)
Change in noncontrolling interest
— — — — (10.6)(10.6)
Balance, June 30, 2021$0.8 $11.7 $4,864.1 $(1,738.3)$26.5 $3,164.8 
Common
Stock		Additional
Paid-in Capital		Retained
Earnings		Accumulated Other
Comprehensive Loss		Noncontrolling
Interests		Total Stockholders’
Equity
Balance, December 31, 2020$0.8 $30.9 $4,759.1 $(1,810.8)$38.0 $3,018.0 
Stock compensation— 15.2 — — — 15.2 
Issuance of stock awards
— (29.5)— — — (29.5)
SSARs exercised— (4.9)— — — (4.9)
Comprehensive income:
Net income— — 433.6 — 2.2 435.8 
Other comprehensive income, net of reclassification adjustments:
Foreign currency translation adjustments
— — — 33.1 0.4 33.5 
Defined benefit pension plans, net of tax
— — — 29.1 — 29.1 
Deferred gains and losses on derivatives, net of tax
— — — 10.3 — 10.3 
Payment of dividends to stockholders
— — (328.6)— — (328.6)
Distributions to noncontrolling interest— — — — (3.5)(3.5)
Change in noncontrolling interest— — — — (10.6)(10.6)
Balance, June 30, 2021$0.8 $11.7 $4,864.1 $(1,738.3)$26.5 $3,164.8 
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, 2020 (in millions):
Common
Stock		Additional
Paid-in Capital		Retained
Earnings		Accumulated Other
Comprehensive Loss		Noncontrolling
Interests		Total Stockholders’
Equity
Balance, March 31, 2020$0.8 $— $4,432.7 $(1,791.4)$48.5 $2,690.6 
Stock compensation— 10.2 (0.1)— — 10.1 
Issuance of stock awards
— (0.1)— — — (0.1)
Comprehensive loss:
Net income (loss)— — 69.7 — (9.7)60.0 
Other comprehensive loss, net of reclassification adjustments:
Foreign currency translation adjustments
— — — (32.8)2.5 (30.3)
Defined benefit pension plans, net of tax
— — — 3.4 — 3.4 
Deferred gains and losses on derivatives, net of tax
— — — (4.4)— (4.4)
Payment of dividends to stockholders
— — (11.9)— — (11.9)
Changes in noncontrolling interests— — — — 0.1 0.1 
Balance, June 30, 2020$0.8 $10.1 $4,490.4 $(1,825.2)$41.4 $2,717.5 
Common
Stock		Additional
Paid-in Capital		Retained
Earnings		Accumulated Other
Comprehensive Loss		Noncontrolling
Interests		Total Stockholders’
Equity
Balance, December 31, 2019$0.8 $4.7 $4,443.5 $(1,595.2)$53.2 $2,907.0 
Stock compensation— 16.1 (3.4)— — 12.7 
Issuance of stock awards
— (7.3)(8.4)— — (15.7)
SSARs exercised— — (0.1)— — (0.1)
Comprehensive loss:
Net income (loss)— — 134.4 — (8.1)126.3 
Other comprehensive loss, net of reclassification adjustments:
Foreign currency translation adjustments
— — — (241.9)(3.2)(245.1)
Defined benefit pension plans, net of tax
— — — 6.9 — 6.9 
Deferred gains and losses on derivatives, net of tax
— — — 5.0 — 5.0 
Payment of dividends to stockholders
— — (24.0)— — (24.0)
Purchases and retirement of common stock
— (3.4)(51.6)— — (55.0)
Change in noncontrolling interest— — — — (0.5)(0.5)
Balance, June 30, 2020$0.8 $10.1 $4,490.4 $(1,825.2)$41.4 $2,717.5 
    Total comprehensive income (loss) attributable to noncontrolling interests for the three and six months ended June 30, 2021 and 2020 was as follows (in millions):
Three Months Ended June 30,Six Months Ended June 30,
2021202020212020
Net income (loss)$1.6 $(9.7)$2.2 $(8.1)
Other comprehensive income (loss):
Foreign currency translation adjustments0.8 2.5 0.4 (3.2)
Total comprehensive income (loss)$2.4 $(7.2)$2.6 $(11.3)

    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, 2021 (in millions):
Defined Benefit Pension Plans Deferred Net Gains (Losses) on DerivativesCumulative Translation AdjustmentTotal
Accumulated other comprehensive loss, December 31, 2020$(313.3)$(2.5)$(1,495.0)$(1,810.8)
Other comprehensive income (loss) before reclassifications23.2 6.1 33.1 62.4 
Net losses reclassified from accumulated other comprehensive loss5.9 4.2 — 10.1 
Other comprehensive income (loss), net of reclassification adjustments29.1 10.3 33.1 72.5 
Accumulated other comprehensive loss, June 30, 2021$(284.2)$7.8 $(1,461.9)$(1,738.3)

    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, 2021 and 2020 (in millions):
Amount Reclassified from Accumulated Other Comprehensive LossAffected Line Item within the Condensed Consolidated
Statements of Operations
Details about Accumulated Other Comprehensive Loss Components
Three Months Ended June 30, 2021(1)
Three Months Ended June 30, 2020(1)
Derivatives:
Net losses (gains) on foreign currency contracts$3.5 $(3.1)Cost of goods sold
Net gains on commodity contracts$(1.9)$— Cost of goods sold
Reclassification before tax1.6 (3.1)
(1.1)— Income tax benefit (provision)
Reclassification net of tax$0.5 $(3.1)
Defined benefit pension plans:
Amortization of net actuarial losses$3.4 $3.2 
Other expense, net(2)
Amortization of prior service cost0.1 0.7 
Other expense, net(2)
Reclassification before tax3.5 3.9 
(1.5)(0.5)Income tax provision
Reclassification net of tax$2.0 $3.4 
Net losses reclassified from accumulated other comprehensive loss$2.5 $0.3 
(1) Losses (gains) included within the Condensed Consolidated Statements of Operations for the three months ended June 30, 2021 and 2020, respectively.
(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, 2021 and 2020 (in millions):

Amount Reclassified from Accumulated Other Comprehensive LossAffected Line Item within the Condensed Consolidated
Statements of Operations
Details about Accumulated Other Comprehensive Loss Components
Six Months Ended June 30, 2021(1)
Six Months Ended June 30, 2020(1)
Derivatives:
Net losses (gains) on foreign currency contracts$6.9 $(3.2)Cost of goods sold
Net gains on commodity contracts(1.9)— Cost of goods sold
Reclassification before tax5.0 (3.2)
(0.8)— Income tax provision
Reclassification net of tax$4.2 $(3.2)
Defined benefit pension plans:
Amortization of net actuarial losses$7.4 $6.7 
Other expense, net(2)
Amortization of prior service cost0.6 1.2 
Other expense, net(2)
Reclassification before tax8.0 7.9 
(2.1)(1.0)Income tax provision
Reclassification net of tax$5.9 $6.9 
Net losses (gains) reclassified from accumulated other comprehensive loss$10.1 $3.7 
(1) Losses (gains) included within the Condensed Consolidated Statements of Operations for the six months ended June 30, 2021 and 2020, respectively.
(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 three and six months ended June 30, 2021, the Company did not purchase any shares directly or enter into any accelerated share repurchase agreements. As of June 30, 2021, the remaining amount authorized to be repurchased under board-approved share repurchase authorizations was approximately $245.0 million, which has no expiration date.

In August 2021, the Company entered into an ASR agreement with a financial institution to repurchase an aggregate of $75.0 million of shares of its common stock. The Company received approximately 455,000 shares to date in this transaction. Upon settlement of the ASR, the Company may be entitled to receive additional shares of common stock or, under certain circumstances, be required to remit a settlement amount. The Company expects that the additional shares will be received by the Company upon final settlement of its current ASR agreement, which expires during the fourth quarter of 2021.