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Acquisitions (Tables) | 6 Months Ended
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Jun. 30, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, 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
Tradename | 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 period ending June 30, 2024.
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2024 |  | 2024
Unaudited Consolidated Pro Forma Results |  |  |
Net sales | $ | 3,246.6 |  |  | $ | 6,258.7 |
Net loss attributable to AGCO Corporation | (354.4) |  |  | (198.0) |

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