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Acquisitions (Tables) | 12 Months Ended
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Dec. 31, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract] |
Schedule of Purchase Consideration | The purchase consideration transferred consisted of the following (in millions):
| Purchase Consideration
Total cash consideration for OneAg | $ | 1,954.0 |
Working capital and other adjustments | (47.1) |
Equity transaction associated with JCA noncontrolling interest (a) | 3.1 |
Total purchase consideration | $ | 1,910.0 |
(a) Equity transaction associated with JCA noncontrolling interest
Schedule of Assets Acquired, Liabilities Assumed and Noncontrolling interests | The fair values of the assets acquired, liabilities assumed and noncontrolling interests as of the acquisition date are presented in the following table (in millions):
| As of April 1, 2024
Cash | $ | 6.3 |
Accounts receivable | 12.3 |
Inventories | 62.6 |
Other current assets | 6.0 |
Property, plant and equipment | 21.6 |
Deferred tax assets | 0.1 |
Right-of-use lease assets | 2.4 |
Other assets (non-current) | 0.1 |
Intangible assets | 624.6 |
Goodwill | 1,592.2 |
Total assets acquired | $ | 2,328.2 |
Accounts payable | $ | 5.8 |
Accrued expenses | 11.2 |
Other current liabilities | 14.0 |
Operating lease liabilities | 1.6 |
Deferred tax liabilities | 18.0 |
Other noncurrent liabilities | 12.5 |
Total liabilities assumed | $ | 63.1 |
Redeemable noncontrolling interests (b) | $ | 355.1 |
Net assets acquired | $ | 1,910.0 |
(b) Redeemable noncontrolling interests
Schedule of Acquired Intangible Assets | The acquired identifiable intangible assets of OneAg as of the date of the acquisition are summarized in the following table (in millions):
| Fair Value |  | Useful Life(1)
Developed Technology | $ | 526.0 |  |  | 7 - 15 years
Customer Relationships | 47.3 |  |  | 20 years
Trade name | 6.5 |  |  | 5 years
Favorable contracts | 44.8 |  |  | 2 - 7 years
| $ | 624.6 |  |  |
____________________________________ (1) Based on available information and certain assumptions that we believe are reasonable.
Schedule of Pro Forma Information | The following unaudited pro forma financial information presents the consolidated results of operations as if the OneAg acquisition had occurred on January 1, 2023. OneAg's pre-acquisition results have been added to the Company's historical results. The pro forma results (in millions) contained in the table below include adjustments for (i) the elimination of sales between the Company and OneAg, (ii) amortization of acquired intangible assets (iii) interest expense and amortization of debt issuance costs related to borrowings under the Senior Notes due 2027 and 2034 and term loan facility and (iv) transaction-related costs as if these had been incurred on January 1, 2023 for the periods ending December 31, 2023 and 2024, respectively.
| Years Ended December 31,
| 2024 |  | 2023
Unaudited Consolidated Pro Forma Results |  |  |
Net sales | $ | 11,745.3 |  |  | $ | 14,895.7 |
Net income (loss) attributable to AGCO Corporation | (423.8) |  |  | 1,119.7 |

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- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(2) -SubTopic 10 -Topic 805 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(3) -SubTopic 10 -Topic 805 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-2 + Details
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- Definition Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-3 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-2 + Details
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- Definition Tabular disclosure of finite-lived intangible assets acquired as part of a business combination or through an asset purchase, by major class and in total, including the value of the asset acquired, any significant residual value (the expected value of the asset at the end of its useful life) and the weighted-average amortization period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482665/350-30-50-1 + Details
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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479907/805-20-50-1 + Details
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