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Segment Information (Tables) | 9 Months Ended
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Sep. 30, 2016
Segment Reporting [Abstract] |
Segment reporting information by segment |
(in Millions) | Three Months Ended September 30 |  | Nine Months Ended September 30
2016 |  | 2015 |  | 2016 |  | 2015
Revenue |  |  |  |  |  |  |
FMC Agricultural Solutions | $ | 558.9 |  |  | $ | 577.6 |  |  | $ | 1,657.0 |  |  | $ | 1,595.6 |
FMC Health and Nutrition | 178.9 |  |  | 195.9 |  |  | 566.3 |  |  | 613.5 |
FMC Lithium | 69.9 |  |  | 57.2 |  |  | 193.5 |  |  | 168.1 |
Total | $ | 807.7 |  |  | $ | 830.7 |  |  | $ | 2,416.8 |  |  | $ | 2,377.2 |
Income from continuing operations before income taxes |  |  |  |  |  |  |
FMC Agricultural Solutions | $ | 90.1 |  |  | $ | 59.4 |  |  | $ | 272.8 |  |  | $ | 262.6 |
FMC Health and Nutrition | 45.1 |  |  | 47.0 |  |  | 137.3 |  |  | 148.5 |
FMC Lithium | 17.5 |  |  | 1.8 |  |  | 48.9 |  |  | 11.9 |
Segment operating profit (a) | $ | 152.7 |  |  | $ | 108.2 |  |  | $ | 459.0 |  |  | $ | 423.0 |
Corporate and other | (18.2 | ) |  | (13.6 | ) |  | (54.0 | ) |  | (46.0 | )
Operating profit before the items listed below | $ | 134.5 |  |  | $ | 94.6 |  |  | $ | 405.0 |  |  | $ | 377.0 |
Interest expense, net | (20.3 | ) |  | (20.2 | ) |  | (61.1 | ) |  | (58.9 | )
Restructuring and other (charges) income (1) | (14.4 | ) |  | (45.6 | ) |  | (39.1 | ) |  | (78.2 | )
Non-operating pension and postretirement (charges) income (2) | (0.2 | ) |  | (5.5 | ) |  | (2.3 | ) |  | (19.9 | )
Acquisition-related charges (3) | (4.4 | ) |  | (43.0 | ) |  | (16.8 | ) |  | (274.0 | )
(Provision) benefit for income taxes | (12.6 | ) |  | 25.1 |  |  | (75.5 | ) |  | 56.4 |
Discontinued operations, net of income taxes | (3.0 | ) |  | (5.0 | ) |  | (14.9 | ) |  | 698.8 |
Net income (loss) attributable to noncontrolling interests | 0.1 |  |  | (2.8 | ) |  | (2.1 | ) |  | (8.1 | )
Net income (loss) attributable to FMC stockholders | $ | 79.7 |  |  | $ | (2.4 | ) |  | $ | 193.2 |  |  | $ | 693.1 |
____________________ (a) Referred to as Segment Earnings.
(1) | See Note 8 of the condensed consolidated financial statements included within this Form 10-Q for details of restructuring and other (charges) income. Below provides the detail the (charges) income by segment:
| Three Months Ended September 30 |  | Nine Months Ended September 30
(in Millions) | 2016 |  | 2015 |  | 2016 |  | 2015
FMC Agricultural Solutions | $ | (8.7 | ) |  | $ | (24.1 | ) |  | $ | (21.2 | ) |  | $ | (47.2 | )
FMC Health and Nutrition | (0.7 | ) |  | (16.6 | ) |  | (4.0 | ) |  | (20.6 | )
FMC Lithium | — |  |  | — |  |  | (0.6 | ) |  | (0.5 | )
Corporate | (5.0 | ) |  | (4.9 | ) |  | (13.3 | ) |  | (9.9 | )
Restructuring and other (charges) income | $ | (14.4 | ) |  | $ | (45.6 | ) |  | $ | (39.1 | ) |  | $ | (78.2 | )
(2) | 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, 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 the 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. These expenses are included as a component of the line item “Selling, general and administrative expenses” on the condensed consolidated statements of income (loss).
(3) | Charges relate to the expensing of the inventory fair value step-up resulting from the application of purchase accounting, transaction costs, costs for transitional employees, other acquired employee related costs, integration related legal and professional third-party fees and gains or losses on hedging purchase price associated with the planned or completed acquisitions. Amounts represent the following:
| Three Months Ended September 30 |  | Nine Months Ended September 30
(in Millions) | 2016 |  | 2015 |  | 2016 |  | 2015
Acquisition-related charges - Cheminova |  |  |  |  |  |  |
Legal and professional fees (1) | $ | 4.4 |  |  | $ | 14.2 |  |  | $ | 16.8 |  |  | $ | 53.8 |
Inventory fair value amortization (2) | — |  |  | 28.8 |  |  | — |  |  | 48.1 |
(Gain)/loss on hedging purchase price (1) | — |  |  | — |  |  | — |  |  | 172.1 |
Acquisition-related charges | $ | 4.4 |  |  | $ | 43.0 |  |  | $ | 16.8 |  |  | $ | 274.0 |
____________________
(1) | On the condensed consolidated statements of income (loss), these charges are included in “Selling, general and administrative expense.” For more information see Note 3.
(2) On the condensed consolidated statements of income (loss), these charges are included in “Costs of sales and services.”
Acquisition-related charges | The following table summarizes the costs incurred associated with these combined activities.
| Three Months Ended September 30 |  | Nine Months Ended September 30
(in Millions) | 2016 |  | 2015 |  | 2016 |  | 2015
Acquisition-related charges |  |  |  |  |  |  |  |  |  |  |
Legal and professional fees (1) | $ | 4.4 |  |  | $ | 14.2 |  |  | $ | 16.8 |  |  | $ | 53.8 |
Inventory fair value amortization (2) | — |  |  | 28.8 |  |  | — |  |  | 48.1 |
(Gain)/loss on hedging purchase price (3) | — |  |  | — |  |  | — |  |  | 172.1 |
Total Acquisition-related charges (4) | $ | 4.4 |  |  | $ | 43.0 |  |  | $ | 16.8 |  |  | $ | 274.0 |
Restructuring charges and asset disposals |  |  |  |  |  |  |  |  |
Cheminova restructuring | 5.8 |  |  | 50.7 |  |  | 14.7 |  |  | 55.5 |
Total Cheminova restructuring charges (4) (5) | $ | 5.8 |  |  | $ | 50.7 |  |  | $ | 14.7 |  |  | $ | 55.5 |
____________________
(1) | Represents transaction costs, costs for transitional employees, other acquired employees related costs and integration-related legal and professional third-party fees. These charges are recorded as a component of “Selling, general and administrative expense" on the condensed consolidated statements of income (loss).
(2) | On the condensed consolidated statements of income (loss), these charges are included in “Costs of sales and services.”
(3) | See "Cheminova Acquisition Hedge Costs" below for more information on these charges. These charges are recorded as a component of “Selling, general and administrative expense" on the condensed consolidated statements of income (loss).
(4) | Acquisition-related charges and restructuring charges to integrate Cheminova with Agricultural Solutions are expected to be completed in 2016.
(5) | See Note 8 for more information. These charges are recorded as a component of “Restructuring and other charges (income)” on the condensed consolidated statements of income (loss).
Charges relate to the expensing of the inventory fair value step-up resulting from the application of purchase accounting, transaction costs, costs for transitional employees, other acquired employee related costs, integration related legal and professional third-party fees and gains or losses on hedging purchase price associated with the planned or completed acquisitions. Amounts represent the following:
| Three Months Ended September 30 |  | Nine Months Ended September 30
(in Millions) | 2016 |  | 2015 |  | 2016 |  | 2015
Acquisition-related charges - Cheminova |  |  |  |  |  |  |
Legal and professional fees (1) | $ | 4.4 |  |  | $ | 14.2 |  |  | $ | 16.8 |  |  | $ | 53.8 |
Inventory fair value amortization (2) | — |  |  | 28.8 |  |  | — |  |  | 48.1 |
(Gain)/loss on hedging purchase price (1) | — |  |  | — |  |  | — |  |  | 172.1 |
Acquisition-related charges | $ | 4.4 |  |  | $ | 43.0 |  |  | $ | 16.8 |  |  | $ | 274.0 |

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8906-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8813-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=35741047&loc=d3e13816-109267 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8736-108599 + Details
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