XML 94 R49.htm IDEA: XBRL DOCUMENT
v3.24.0.1

Stockholders' Equity (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2023
Equity [Abstract] |
Dividends Declared | The Company’s Board of Directors has declared and the Company has paid cash dividends per common share during the following years:
| 2023(1) |  | 2022(2) |  | 2021(3)
Dividends declared and paid per common share | $ | 6.10 |  |  | $ | 5.40 |  |  | $ | 4.74 |
__________________________________ (1) On April 27, 2023, the Company’s Board of Directors approved a quarterly dividend of $0.29 per common share outstanding commencing in the second quarter of 2023. The Company’s Board of Directors declared and the Company has paid quarterly cash dividends of $0.29 per common share beginning in the second quarter of 2023, from $0.24 per common share in the first quarter of 2023. In addition, the Company's Board of Directors also declared and the Company paid a special variable dividend of $5.00 per common share during 2023 totaling approximately $374.4 million. (2) On April 28, 2022, the Company’s Board of Directors approved a quarterly dividend of $0.24 per common share outstanding commencing in the second quarter of 2022. The Company’s Board of Directors declared and the Company has paid quarterly cash dividends of $0.24 per common share beginning in the second quarter of 2022, from $0.20 per common share in the first quarter of 2022. In addition, the Company's Board of Directors also declared and the Company paid a special variable dividend of $4.50 per common share during 2022 totaling approximately $335.7 million. (3) The Company’s Board of Directors declared and the Company has paid quarterly cash dividends of $0.20 per common share beginning in the second quarter of 2021, from $0.16 per common share in the first quarter of 2021. In addition, the Company’s Board of Directors also declared and the Company paid a special variable dividend of $4.00 per common share during 2021 totaling approximately $301.5 million.
Schedule of Accumulated Other Comprehensive Income (Loss) | 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 years ended December 31, 2023 and 2022 (in millions):
| Defined Benefit Pension Plans |  | Cumulative Translation Adjustment |  | Deferred Net (Losses) Gains on Derivatives |  | Total
Accumulated other comprehensive loss, December 31, 2021 | $ | (230.4) |  |  | $ | (1,540.1) |  |  | $ | (0.4) |  |  | $ | (1,770.9) |
Other comprehensive loss before reclassifications | (7.2) |  |  | (30.9) |  |  | (14.6) |  |  | (52.7) |
Net losses reclassified from accumulated other comprehensive loss | 6.4 |  |  | — |  |  | 14.1 |  |  | 20.5 |
Other comprehensive loss, net of reclassification adjustments | (0.8) |  |  | (30.9) |  |  | (0.5) |  |  | (32.2) |
Accumulated other comprehensive loss, December 31, 2022 | (231.2) |  |  | (1,571.0) |  |  | (0.9) |  |  | (1,803.1) |
Other comprehensive (loss) income before reclassifications | (15.7) |  |  | 102.3 |  |  | (8.9) |  |  | 77.7 |
Net losses reclassified from accumulated other comprehensive loss | 8.3 |  |  | — |  |  | 9.0 |  |  | 17.3 |
Other comprehensive (loss) income, net of reclassification adjustments | (7.4) |  |  | 102.3 |  |  | 0.1 |  |  | 95.0 |
Accumulated other comprehensive loss, December 31, 2023 | $ | (238.6) |  |  | $ | (1,468.7) |  |  | $ | (0.8) |  |  | $ | (1,708.1) |
Schedule of Reclassifications out of Accumulated Other Comprehensive Income (Loss) | The following table sets forth reclassification adjustments out of accumulated other comprehensive loss by component attributed to AGCO Corporation and its subsidiaries for the years ended December 31, 2023 and 2022 (in millions):
Details about Accumulated Other Comprehensive Loss Components |  | Amount Reclassified from Accumulated Other Comprehensive Loss |  | Affected Line Item within the Consolidated Statements of Operations
| Year ended December 31, 2023(1) |  | Year ended December 31, 2022(1) |
Derivatives: |  |  |  |  |  |
Net losses on foreign currency contracts |  | $ | 11.1 |  |  | $ | 14.5 |  |  | Cost of goods sold
Net losses on commodity contracts |  | 0.1 |  |  | 4.7 |  |  | Cost of goods sold
Reclassification before tax |  | 11.2 |  |  | 19.2 |  |  |
|  | (2.2) |  |  | (5.1) |  |  | Income tax provision
Reclassification net of tax |  | $ | 9.0 |  |  | $ | 14.1 |  |  |
Defined benefit pension plans: |  |  |  |  |  |
Amortization of net actuarial losses |  | $ | 9.4 |  |  | $ | 8.7 |  |  | Other expense, net(2)
Amortization of prior service cost |  | 1.7 |  |  | 0.2 |  |  | Other expense, net(2)
Reclassification before tax |  | 11.1 |  |  | 8.9 |  |  |
|  | (2.8) |  |  | (2.5) |  |  | Income tax provision
Reclassification net of tax |  | $ | 8.3 |  |  | $ | 6.4 |  |  |
Net losses reclassified from accumulated other comprehensive loss |  | $ | 17.3 |  |  | $ | 20.5 |  |  |
____________________________________ (1) Losses included within the Consolidated Statements of Operations for the years ended December 31, 2023 and 2022, respectively. (2) These accumulated other comprehensive loss components are included in the computation of net periodic pension and postretirement benefit cost. See Note 20 to the Company’s Consolidated Financial Statements.

X
- Definition Tabular disclosure of information related to dividends declared, including paid and unpaid dividends. + References No definition available. + Details
Name: | us-gaap_DividendsDeclaredTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_EquityAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of information about items reclassified out of accumulated other comprehensive income (loss). + References No definition available. + Details
Name: | us-gaap_ReclassificationOutOfAccumulatedOtherComprehensiveIncomeTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of accumulated other comprehensive income (loss). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 14A -Publisher FASB -URI https://asc.fasb.org//1943274/2147482790/220-10-45-14A Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 830 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481674/830-30-50-1 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 830 -SubTopic 30 -Name Accounting Standards Codification -Section 45 -Paragraph 20 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481694/830-30-45-20 + Details
Name: | us-gaap_ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration