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Changes in Stockholders' Equity
 9 Months Ended
Sep. 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 nine months ended September 30, 2021 (in millions):
Common
Stock		Additional
Paid-in Capital		Retained
Earnings		Accumulated Other
Comprehensive Loss		Noncontrolling
Interests		Total Stockholders’
Equity
Balance, June 30, 2021$0.8 $11.7 $4,864.1 $(1,738.3)$26.5 $3,164.8 
Stock compensation— 5.9 — — — 5.9 
SSARs exercised— (0.5)— — — (0.5)
Comprehensive income:
Net income— — 181.3 — 1.1 182.4 
Other comprehensive loss, net of reclassification adjustments:
Foreign currency translation adjustments
— — — (65.4)— (65.4)
Defined benefit pension plans, net of tax— — — 2.6 — 2.6 
Deferred gains and losses on derivatives, net of tax
— — — (3.4)— (3.4)
Payment of dividends to stockholders— — (15.0)— — (15.0)
Purchases and retirement of common stock
(0.1)(13.5)(61.4)— — (75.0)
Balance, September 30, 2021$0.7 $3.6 $4,969.0 $(1,804.5)$27.6 $3,196.4 
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— 21.1 — — — 21.1 
Issuance of stock awards
— (29.5)— — — (29.5)
SSARs exercised— (5.4)— — — (5.4)
Comprehensive income:
Net income— — 614.9 — 3.3 618.2 
Other comprehensive income, net of reclassification adjustments:
Foreign currency translation adjustments— — — (32.3)0.4 (31.9)
Defined benefit pension plans, net of tax— — — 31.7 — 31.7 
Deferred gains and losses on derivatives, net of tax— — — 6.9 — 6.9 
Payment of dividends to stockholders— — (343.6)— — (343.6)
Purchases and retirement of common stock(0.1)(13.5)(61.4)— — (75.0)
Distributions to noncontrolling interest— — — — (3.5)(3.5)
Change in noncontrolling interest— — — — (10.6)(10.6)
Balance, September 30, 2021$0.7 $3.6 $4,969.0 $(1,804.5)$27.6 $3,196.4 
    The following tables set forth changes in stockholders’ equity attributed to AGCO Corporation and its subsidiaries and to noncontrolling interests for the three and nine months ended September 30, 2020 (in millions):
Common
Stock		Additional
Paid-in Capital		Retained
Earnings		Accumulated Other
Comprehensive Loss		Noncontrolling
Interests		Total Stockholders’
Equity
Balance, June 30, 2020$0.8 $10.1 $4,490.4 $(1,825.2)$41.4 $2,717.5 
Stock compensation— 14.1 — — — 14.1 
Comprehensive income:
Net income— — 157.3 — 0.8 158.1 
Other comprehensive loss, net of reclassification adjustments:
Foreign currency translation adjustments
— — — (28.1)(2.2)(30.3)
Defined benefit pension plans, net of tax
— — — 3.4 — 3.4 
Deferred gains and losses on derivatives, net of tax
— — — (1.1)— (1.1)
Payment of dividends to stockholders
— — (12.0)— — (12.0)
Changes in noncontrolling interests— — — — 0.2 0.2 
Balance, September 30, 2020$0.8 $24.2 $4,635.7 $(1,851.0)$40.2 $2,849.9 
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— 30.2 (3.4)— — 26.8 
Issuance of stock awards
— (7.3)(8.4)— — (15.7)
SSARs exercised— — (0.1)— — (0.1)
Comprehensive loss:
Net income (loss)— — 291.7 — (7.3)284.4 
Other comprehensive loss, net of reclassification adjustments:
Foreign currency translation adjustments
— — — (270.0)(5.4)(275.4)
Defined benefit pension plans, net of tax
— — — 10.3 — 10.3 
Deferred gains and losses on derivatives, net of tax
— — — 3.9 — 3.9 
Payment of dividends to stockholders
— — (36.0)— — (36.0)
Purchases and retirement of common stock
— (3.4)(51.6)— — (55.0)
Change in noncontrolling interest— — — — (0.3)(0.3)
Balance, September 30, 2020$0.8 $24.2 $4,635.7 $(1,851.0)$40.2 $2,849.9 
    Total comprehensive income (loss) attributable to noncontrolling interests for the three and nine months ended September 30, 2021 and 2020 was as follows (in millions):
Three Months Ended September 30,Nine Months Ended September 30,
2021202020212020
Net income (loss)$1.1 $0.8 $3.3 $(7.3)
Other comprehensive income (loss):
Foreign currency translation adjustments— (2.2)0.4 (5.4)
Total comprehensive income (loss)$1.1 $(1.4)$3.7 $(12.7)

    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, 2021 (in millions):
Defined Benefit Pension Plans Deferred Net (Losses) Gains 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 7.7 (32.3)(1.4)
Net losses (gains) reclassified from accumulated other comprehensive loss8.5 (0.8)— 7.7 
Other comprehensive income (loss), net of reclassification adjustments31.7 6.9 (32.3)6.3 
Accumulated other comprehensive loss, September 30, 2021$(281.6)$4.4 $(1,527.3)$(1,804.5)

    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, 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 September 30, 2021(1)
Three Months Ended September 30, 2020(1)
Derivatives:
Net losses (gains) on foreign currency contracts$1.5 $(1.2)Cost of goods sold
Net gains on commodity contracts$(8.5)$— Cost of goods sold
Reclassification before tax(7.0)(1.2)
2.0 0.2 Income tax benefit (provision)
Reclassification net of tax$(5.0)$(1.0)
Defined benefit pension plans:
Amortization of net actuarial losses$3.4 $3.5 
Other expense, net(2)
Amortization of prior service cost0.1 0.5 
Other expense, net(2)
Reclassification before tax3.5 4.0 
(0.9)(0.6)Income tax provision
Reclassification net of tax$2.6 $3.4 
Net (gains) losses reclassified from accumulated other comprehensive loss$(2.4)$2.4 
(1) (Gains) losses included within the Condensed Consolidated Statements of Operations for the three months ended September 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 15 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 nine months ended September 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
Nine Months Ended September 30, 2021(1)
Nine Months Ended September 30, 2020(1)
Derivatives:
Net losses (gains) on foreign currency contracts$8.4 $(4.4)Cost of goods sold
Net gains on commodity contracts(10.4)— Cost of goods sold
Reclassification before tax(2.0)(4.4)
1.2 0.2 Income tax provision
Reclassification net of tax$(0.8)$(4.2)
Defined benefit pension plans:
Amortization of net actuarial losses$10.8 $10.2 
Other expense, net(2)
Amortization of prior service cost0.7 1.7 
Other expense, net(2)
Reclassification before tax11.5 11.9 
(3.0)(1.6)Income tax provision
Reclassification net of tax(3)
$8.5 $10.3 
Net losses reclassified from accumulated other comprehensive loss$7.7 $6.1 
(1) Losses included within the Condensed Consolidated Statements of Operations for the nine months ended September 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 15 for additional information on the Company’s defined benefit pension plans.
(3) During the nine months ended September 30, 2021, the Company amended its ENPP. The amendment resulted in a net gain of approximately $23.2 million, after tax, recognized in "Accumulated other comprehensive loss" in the Company's Condensed Balance Sheets. See Note 15 for additional information regarding the Company's defined benefit pension plans.

Share Repurchase Program

    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 558,471 shares to date in this transaction. 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 a combination of “Additional paid-in capital” and “Retained earnings” within the Company’s Condensed Consolidated Balance Sheets.    

    As of September 30, 2021, the remaining amount authorized to be repurchased under board-approved share repurchase authorizations was approximately $170.0 million, which has no expiration date.

    In November 2021, the Company entered into an ASR agreement with a financial institution to repurchase an aggregate of $60.0 million shares of its common stock. The Company received 393,733 shares to date in this transaction. The specific number of shares the Company will ultimately repurchase will be 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 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 additional shares will be received by the Company upon final settlement of its current ASR agreement, which expires during the first quarter of 2022. All shares received under the ASR agreement discussed above 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.