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Financial Instruments, Risk Management and Fair Value Measurements (Tables) | 9 Months Ended
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Sep. 30, 2017
Fair Value Disclosures [Abstract] |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value | The following tables provide the gross fair value and net balance sheet presentation of our derivative instruments.
| September 30, 2017
| Gross Amount of Derivatives |  |  |  |  |  |
(in Millions) | Designated as Cash Flow Hedges |  | Not Designated as Hedging Instruments |  | Total Gross Amounts |  | Gross Amounts Offset in the Consolidated Balance Sheet (3) |  | Net Amounts
Foreign exchange contracts | $ | 6.0 |  |  | $ | 0.8 |  |  | $ | 6.8 |  |  | $ | (5.0 | ) |  | $ | 1.8 |
Energy contracts | 0.2 |  |  | — |  |  | 0.2 |  |  | — |  |  | 0.2 |
Total derivative assets (1) | 6.2 |  |  | 0.8 |  |  | 7.0 |  |  | (5.0 | ) |  | 2.0 |
Foreign exchange contracts | $ | (5.2 | ) |  | $ | (0.4 | ) |  | $ | (5.6 | ) |  | $ | 5.0 |  |  | $ | (0.6 | )
Total derivative liabilities (2) | (5.2 | ) |  | (0.4 | ) |  | (5.6 | ) |  | 5.0 |  |  | (0.6 | )
Net derivative assets (liabilities) | $ | 1.0 |  |  | $ | 0.4 |  |  | $ | 1.4 |  |  | $ | — |  |  | $ | 1.4 |
| December 31, 2016
| Gross Amount of Derivatives |  |
(in Millions) | Designated as Cash Flow Hedges |  | Not Designated as Hedging Instruments |  | Total Gross Amounts |  | Gross Amounts Offset in the Consolidated Balance Sheet (3) |  | Net Amounts
Foreign exchange contracts | $ | 9.8 |  |  | $ | 0.8 |  |  | $ | 10.6 |  |  | $ | (6.2 | ) |  | $ | 4.4 |
Energy contracts | 2.0 |  |  | — |  |  | 2.0 |  |  | — |  |  | 2.0 |
Total derivative assets (1) | 11.8 |  |  | 0.8 |  |  | 12.6 |  |  | (6.2 | ) |  | 6.4 |
Foreign exchange contracts | $ | (5.5 | ) |  | $ | (9.6 | ) |  | $ | (15.1 | ) |  | $ | 6.2 |  |  | $ | (8.9 | )
Total derivative liabilities (2) | (5.5 | ) |  | (9.6 | ) |  | (15.1 | ) |  | 6.2 |  |  | (8.9 | )
Net derivative assets (liabilities) | $ | 6.3 |  |  | $ | (8.8 | ) |  | $ | (2.5 | ) |  | $ | — |  |  | $ | (2.5 | )
____________________
(1) | Net balance is included in “Prepaid and other current assets” in the condensed consolidated balance sheets.
(2) | Net balance is included in “Accrued and other liabilities” in the condensed consolidated balance sheets.
(3) | Represents net derivatives positions subject to master netting arrangements.
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance | The tables below summarize the gains or losses related to our cash flow hedges and derivatives not designated as hedging instruments. Derivatives in Cash Flow Hedging Relationships
| Three Months Ended September 30
| Contracts |  |
| Foreign Exchange |  | Energy |  | Other |  | Total
(in Millions) | 2017 |  | 2016 |  | 2017 |  | 2016 |  | 2017 |  | 2016 |  | 2017 |  | 2016
Unrealized hedging gains (losses) and other, net of tax | $ | (1.8 | ) |  | $ | 0.2 |  |  | $ | 0.1 |  |  | $ | (0.1 | ) |  | $ | — |  |  | $ | — |  |  | $ | (1.7 | ) |  | $ | 0.1 |
Reclassification of deferred hedging (gains) losses, net of tax (1) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Effective portion (1) | 1.5 |  |  | 1.9 |  |  | 0.1 |  |  | 0.3 |  |  | (0.1 | ) |  | — |  |  | 1.5 |  |  | 2.2 |
Total derivative instrument impact on comprehensive income, net of tax | $ | (0.3 | ) |  | $ | 2.1 |  |  | $ | 0.2 |  |  | $ | 0.2 |  |  | $ | (0.1 | ) |  | $ | — |  |  | $ | (0.2 | ) |  | $ | 2.3 |
| Nine Months Ended September 30
| Contracts |  |
| Foreign Exchange |  | Energy |  | Other |  | Total
(in Millions) | 2017 |  | 2016 |  | 2017 |  | 2016 |  | 2017 |  | 2016 |  | 2017 |  | 2016
Unrealized hedging gains (losses) and other, net of tax | $ | (2.4 | ) |  | $ | 1.0 |  |  | $ | (0.8 | ) |  | $ | (0.1 | ) |  | $ | — |  |  | $ | — |  |  | $ | (3.2 | ) |  | $ | 0.9 |
Reclassification of deferred hedging (gains) losses, net of tax (1) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Effective portion (1) | 1.8 |  |  | 4.9 |  |  | (0.4 | ) |  | 1.4 |  |  | (0.1 | ) |  | (0.1 | ) |  | 1.3 |  |  | 6.2 |
Total derivative instrument impact on comprehensive income, net of tax | $ | (0.6 | ) |  | $ | 5.9 |  |  | $ | (1.2 | ) |  | $ | 1.3 |  |  | $ | (0.1 | ) |  | $ | (0.1 | ) |  | $ | (1.9 | ) |  | $ | 7.1 |
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(1) | See Note 13 for classification of amounts within the condensed consolidated statements of income (loss).
Derivatives Not Designated as Hedging Instruments
| Location of Gain or (Loss) Recognized in Income on Derivatives | Amount of Pre-tax Gain or (Loss) Recognized in Income on Derivatives (1)
|  | Three Months Ended September 30 |  | Nine Months Ended September 30
(in Millions) |  | 2017 |  | 2016 |  | 2017 |  | 2016
Foreign exchange contracts | Cost of sales and services | $ | 1.1 |  |  | $ | 11.7 |  |  | $ | (9.4 | ) |  | $ | 28.3 |
Total |  | $ | 1.1 |  |  | $ | 11.7 |  |  | $ | (9.4 | ) |  | $ | 28.3 |
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(1) | Amounts in the columns represent the gain or loss on the derivative instrument offset by the gain or loss on the hedged item.
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis | The following tables present our fair-value hierarchy for those assets and liabilities measured at fair-value on a recurring basis in the condensed consolidated balance sheets. During the periods presented there were no transfers between fair-value hierarchy levels.
(in Millions) | September 30, 2017 |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3)
Assets |  |  |  |  |  |  |
Derivatives – Commodities: (1) |  |  |  |  |  |  |
Energy contracts | $ | 0.2 |  |  | $ | — |  |  | $ | 0.2 |  |  | $ | — |
Derivatives – Foreign exchange (1) | 1.8 |  |  | — |  |  | 1.8 |  |  | — |
Other (2) | 28.9 |  |  | 28.9 |  |  | — |  |  | — |
Total assets | $ | 30.9 |  |  | $ | 28.9 |  |  | $ | 2.0 |  |  | $ | — |
Liabilities |  |  |  |  |  |  |
Derivatives – Foreign exchange (1) | $ | 0.6 |  |  | $ | — |  |  | $ | 0.6 |  |  | $ | — |
Other (3) | 38.4 |  |  | 37.1 |  |  | 1.3 |  |  | — |
Total liabilities | $ | 39.0 |  |  | $ | 37.1 |  |  | $ | 1.9 |  |  | $ | — |
(in Millions) | December 31, 2016 |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3)
Assets |  |  |  |  |  |  |
Derivatives – Commodities: (1) |  |  |  |  |  |  |
Energy contracts | $ | 2.0 |  |  | $ | — |  |  | $ | 2.0 |  |  | $ | — |
Derivatives – Foreign exchange (1) | 4.4 |  |  | — |  |  | 4.4 |  |  | — |
Other (2) | 25.3 |  |  | 25.3 |  |  | — |  |  | — |
Total assets | $ | 31.7 |  |  | $ | 25.3 |  |  | $ | 6.4 |  |  | $ | — |
Liabilities |  |  |  |  |  |  |
Derivatives – Foreign exchange (1) | $ | 8.9 |  |  | $ | — |  |  | $ | 8.9 |  |  | $ | — |
Other (3) | 31.1 |  |  | 30.5 |  |  | 0.6 |  |  | — |
Total liabilities | $ | 40.0 |  |  | $ | 30.5 |  |  | $ | 9.5 |  |  | $ | — |
____________________
(1) | See the Fair Value of Derivative Instruments table within this Note for classification on the condensed consolidated balance sheets.
(2) | Consists of a deferred compensation arrangement, through which we hold various investment securities, recognized on our balance sheets. Both the asset and liability are recorded at fair value. Asset amounts are included in “Other assets” in the condensed consolidated balance sheets.
(3) | Consist of a deferred compensation arrangement recognized on our balance sheets. Both the asset and liability are recorded at fair value. Liability amounts are included in “Other long-term liabilities” in the condensed consolidated balance sheets.
Fair Value Measurements, Nonrecurring | The following table presents our fair value hierarchy for those assets and liabilities measured at fair value on a non-recurring basis in the condensed consolidated balance sheets during the periods ended September 30, 2017 and December 31, 2016.
(in Millions) | September 30, 2017 |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3) |  | Total Gains (Losses) (Period Ended September 30, 2017)
Assets |  |  |  |  |  |  |  |  |
Impairment of intangibles (1) | 4.3 |  |  | — |  |  | — |  |  | 4.3 |  |  | (1.3 | )
Total assets | $ | 4.3 |  |  | $ | — |  |  | $ | — |  |  | $ | 4.3 |  |  | $ | (1.3 | )
____________________
(1) | We recorded an impairment charge, related to our FMC Agricultural Solutions segment, to write down the carrying value of the generic brand portfolio of approximately $1.3 million to its fair value.
(in Millions) | December 31, 2016 |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3) |  | Total Gains (Losses) (Period Ended December 31, 2016)
Assets |  |  |  |  |  |  |  |  |
Impairment of intangibles (1) | $ | 5.9 |  |  | $ | — |  |  | $ | — |  |  | $ | 5.9 |  |  | $ | (1.0 | )
Total assets | $ | 5.9 |  |  | $ | — |  |  | $ | — |  |  | $ | 5.9 |  |  | $ | (1.0 | )
____________________
(1) | We recorded an impairment charge, related to our FMC Agricultural Solutions segment, to write down the carrying value of the generic brand portfolio of approximately $1 million to its fair value.

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- Definition Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19190-110258 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 + Details
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