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Environmental Obligations
 6 Months Ended
Jun. 30, 2016
Environmental Remediation Obligations [Abstract]  
Environmental Obligations
Environmental Obligations
We have reserves for potential environmental obligations which management considers probable and which management can reasonably estimate. The table below is a roll forward of our total environmental reserves, continuing and discontinued:
 
(in Millions)
Gross
 
Recoveries (3)
 
Net
Total environmental reserves at December 31, 2015
$
348.2

 
$
(7.3
)
 
$
340.9

Provision/(benefit)
18.2

 
—

 
18.2

(Spending)/recoveries
(22.0
)
 
—

 
(22.0
)
Foreign currency translation adjustments
1.3

 
—

 
1.3

Net change
(2.5
)
 
—

 
(2.5
)
Total environmental reserves at June 30, 2016
$
345.7

 
$
(7.3
)
 
$
338.4

 
 
 
 
 
 
Environmental reserves, current (1)
79.6

 
(4.3
)
 
75.3

Environmental reserves, long-term (2)
266.1

 
(3.0
)
 
263.1

Total environmental reserves at June 30, 2016
$
345.7

 
$
(7.3
)
 
$
338.4

____________________
(1)
These amounts are included within "Accrued and other liabilities" on the condensed consolidated balance sheets.
(2)
These amounts are included in "Environmental liabilities, continuing and discontinued" on the condensed consolidated balance sheets.
(3)
These recorded recoveries represent probable realization of claims against U.S. government agencies and are recorded as an offset to our environmental reserves in the condensed consolidated balance sheets.
The estimated reasonably possible environmental loss contingencies, net of expected recoveries, exceed amounts accrued by approximately $230 million at June 30, 2016. This reasonably possible estimate is based upon information available as of the date of the filing but the actual future losses may be higher given the uncertainties regarding the status of laws, regulations, enforcement policies, the impact of potentially responsible parties, technology and information related to individual sites. Potential environmental obligations that have not been reserved may be material to any one quarter's or year's results of operations in the future. However, we believe any such liability arising from such potential environmental obligations is not likely to have a material adverse effect on our liquidity or financial condition as it may be satisfied over many years.
The table below provides a roll forward of our environmental recoveries representing probable realization of claims against insurance carriers and other third parties. These recoveries are recorded as "Other assets" in the condensed consolidated balance sheets.
(in Millions)
12/31/2015
 
Increase in Recoveries
 
Cash Received
 
6/30/2016
Environmental recoveries
$
22.7

 
1.8

 
(0.5
)
 
$
24.0



Our net environmental provisions relate to costs for the continued cleanup of both continuing and discontinued manufacturing operations from previous years. The net provisions are comprised as follows:
 
Three Months Ended June 30
 
Six Months Ended June 30
(in Millions)
2016
 
2015
 
2016
 
2015
Environmental provisions, net - recorded to liabilities (1)
$
5.6

 
$
13.6

 
$
18.2

 
$
18.0

Environmental provisions, net - recorded to assets (2)
—

 
—

 
(1.8
)
 
—

Environmental provision, net
$
5.6

 
$
13.6

 
$
16.4

 
$
18.0

 
 
 
 
 
 
 
 
Continuing operations (3)
2.5

 
3.5

 
9.1

 
5.4

Discontinued operations (4)
3.1

 
10.1

 
7.3

 
12.6

Environmental provision, net
$
5.6

 
$
13.6

 
$
16.4

 
$
18.0


____________________
(1)
See above roll forward of our total environmental reserves as presented on the condensed consolidated balance sheets.
(2)
See above roll forward of our total environmental recoveries as presented on the condensed consolidated balance sheets.
(3)
Recorded as a component of “Restructuring and other charges (income)” on the condensed consolidated statements of income (loss), see Note 8. Environmental obligations for continuing operations primarily represent obligations at shut down or abandoned facilities within businesses that do not meet the criteria for presentation as discontinued operations.
(4)
Recorded as a component of “Discontinued operations, net of income taxes" on the condensed consolidated statements of income (loss), see Note 10.

A more complete description of our environmental contingencies and the nature of our potential obligations are included in Notes 1 and 10 to our consolidated financial statements in our 2015 Form 10-K. See Note 10 to our consolidated financial statements in our 2015 Form 10-K for a description of significant updates to material environmental sites.  There have been no significant updates since the information included in our 2015 Form 10-K other than the update provided below.

On June 21, 2016, the Environmental Protection Agency (“EPA”) issued its Proposed Cleanup Plan for the Portland Harbor Superfund Site (“the Proposed Plan”).  The Proposed Plan is open for public comment through September 6, 2016.  Any potential liability to FMC will represent a portion of the costs of the remedy the EPA selects for Portland Harbor.  Based on the current information available in the Proposed Plan as well as the large number of responsible parties for the Superfund Site, we are unable to develop a reasonable estimate of our potential exposure for Portland Harbor at this time.