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Segment Information (Tables)
 9 Months Ended
Sep. 30, 2012
Segment Reporting [Abstract]  
Segment reporting information by segment
(in Millions)
Three Months Ended September 30
 
Nine Months Ended September 30
2012
 
2011
 
2012
 
2011
Revenue
 
 
 
 
 
 
 
Agricultural Products
$
423.6

 
$
382.1

 
$
1,271.4

 
$
1,055.3

Specialty Chemicals
226.3

 
217.9

 
677.6

 
656.5

Industrial Chemicals
254.2

 
264.0

 
803.8

 
761.3

Eliminations
(1.7
)
 
(1.9
)
 
(4.5
)
 
(3.8
)
Total
$
902.4

 
$
862.1

 
$
2,748.3

 
$
2,469.3

Income from continuing operations before income taxes
 
 
 
 
 
 
Agricultural Products
$
99.8

 
$
80.9

 
$
340.8

 
$
275.7

Specialty Chemicals
44.0

 
47.6

 
141.0

 
148.5

Industrial Chemicals
36.5

 
36.0

 
127.4

 
112.5

Eliminations
—

 
—

 
—

 
—

Segment operating profit
180.3

 
164.5

 
609.2

 
536.7

Corporate
(15.3
)
 
(12.8
)
 
(44.2
)
 
(45.2
)
Other income (expense), net (1)
(3.0
)
 
(2.9
)
 
(18.5
)
 
(15.1
)
Operating profit before the items listed below (2)
162.0

 
148.8

 
546.5

 
476.4

Interest expense, net
(11.0
)
 
(9.1
)
 
(33.8
)
 
(29.5
)
Restructuring and other income (charges) (3)
(11.6
)
 
(13.4
)
 
(18.9
)
 
(27.2
)
Non-operating pension and postretirement (charges) income (4)
(8.1
)
 
(3.4
)
 
(26.3
)
 
(12.4
)
Acquisition-related charges (5)
(0.6
)
 
—

 
(7.2
)
 
—

Provision for income taxes
(34.4
)
 
(29.8
)
 
(124.5
)
 
(96.1
)
Discontinued operations, net of income taxes
(6.3
)
 
(6.3
)
 
(21.8
)
 
(23.2
)
Net income attributable to FMC stockholders
$
90.0

 
$
86.8

 
$
314.0

 
$
288.0

_________________________________________
(1)
Other income (expense), net is comprised primarily of last-in, first-out (“LIFO”) inventory adjustments and certain employee benefits, including incentive compensation. Our business segments account for their domestic inventory utilizing a first-in-first-out ("FIFO") basis of accounting. The LIFO inventory adjustments are not allocated to the business segments and therefore are recorded to "Other income (expense), net".
(2)
Results for all segments including corporate expense and other income (expense) are net of noncontrolling interests of $4.6 million and $15.5 million in the three and nine months ended September 30, 2012, and $4.1 million and $12.5 million in the three and nine months ended September 30, 2011, respectively. The majority of the noncontrolling interests pertain to our Industrial Chemicals segment.
(3)
See Note 8 for details of restructuring and other charges (income). Amounts for the three months ended September 30, 2012, relate to Agricultural Products of $4.4 million, Specialty Chemicals of $0.1 million, Industrial Chemicals of $6.1 million and Corporate $1.0 million. Amounts for the three months ended September 30, 2011, relate to Agricultural Products of $0.5 million, Specialty Chemicals of $0.5 million, Industrial Chemicals of $11.2 million and Corporate of $1.2 million. Amounts for the nine months ended September 30, 2012, relate to Agricultural Products of $6.1 million, Industrial Chemicals of $9.8 million and Corporate of $3.0 million. Amounts for the nine months ended September 30, 2011, relate to Agricultural Products of $1.2 million, Specialty Chemicals of $2.1 million, Industrial Chemicals of $19.7 million and Corporate of $4.2 million.
(4)
Our non-operating pension and postretirement costs are defined as those costs related to interest, expected return on plan assets, amortized actuarial gains and losses and the impacts of any plan curtailments or settlements. These costs are primarily related to changes in pension plan assets and liabilities which are tied to financial market performance and we consider these costs to be outside our operational performance. We exclude these non-operating pension and postretirement costs from our segments as we believe that removing them provides a better understanding of the underlying profitability of our businesses, provides increased transparency and clarity in the performance of our retirement plans and enhances period-over-period comparability. We continue to include the service cost and amortization of prior service cost in our operating segments noted above. We believe these elements reflect the current year operating costs to our businesses for the employment benefits provided to active employees.
(5)
These charges were related to the expensing of the inventory fair value step-up resulting from the application of purchase accounting. The charges for the three and nine months ended September 30, 2012 primary relate to a number of acquisitions completed in 2011, further described in Note 3. On the condensed consolidated statements of income, the charges presented are included in “Costs of sales and services”. No such charges occurred for the three and nine months ended September 30, 2011.