XML 13 R4.htm IDEA: XBRL DOCUMENT v3.23.1
Condensed Consolidated Statements of Operations - USD ($)
shares in Millions, $ in Millions
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Income Statement [Abstract]    
Net sales $ 3,333.5 $ 2,685.7
Cost of goods sold 2,478.6 2,054.4
Gross profit 854.9 631.3
Operating expenses:    
Selling, general and administrative expenses 330.3 271.1
Engineering expenses 119.6 100.3
Amortization of intangibles 14.8 15.3
Impairment charges 0.0 36.0
Restructuring expenses 1.4 3.0
Bad debt expense 1.5 1.6
Income from operations 387.3 204.0
Interest expense, net 0.5 0.4
Other expense, net 50.4 17.5
Income before income taxes and equity in net earnings of affiliates 336.4 186.1
Income tax provision 120.2 60.2
Income before equity in net earnings of affiliates 216.2 125.9
Equity in net earnings of affiliates 16.4 11.1
Net income 232.6 137.0
Net income attributable to noncontrolling interests 0.0 14.8
Net income attributable to AGCO Corporation and subsidiaries $ 232.6 $ 151.8
Net income per common share attributable to AGCO Corporation and subsidiaries:    
Basic (in dollars per share) $ 3.11 $ 2.03
Diluted (in dollars per share) 3.10 2.03
Cash dividends declared and paid per common share (in dollars per share) $ 0.24 $ 0.20
Weighted average number of common and common equivalent shares outstanding:    
Basic (in shares) 74.9 74.6
Diluted (in shares) 75.0 74.9