XML 56 R43.htm IDEA: XBRL DOCUMENT
v3.8.0.1

Income Taxes (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2018
Income Tax Disclosure [Abstract] |
Schedule of Effective Income Tax Rate Reconciliation | The below chart provides a reconciliation between our reported effective tax rate and the EAETR of our continuing operations.
| Three Months Ended March 31,
| 2018 |  | 2017
(in Millions) | Before Tax | Tax | Effective Tax Rate % |  | Before Tax | Tax | Effective Tax Rate %
Continuing operations | $ | 331.8 |  | $ | 68.7 |  | 20.7 | % |  | $ | 54.4 |  | $ | 9.4 |  | 17.3 | %
Discrete items: |  |  |  |  |  |  |
Acquisition-related charges (1) | $ | 2.7 |  | $ | 0.6 |  |  |  | $ | 9.2 |  | $ | 2.6 |  |
Currency remeasurement (2) | 0.5 |  | 0.9 |  |  |  | 5.1 |  | 2.6 |  |
Other discrete items (3) | (51.5 | ) | (17.7 | ) |  |  | 38.1 |  | 2.1 |  |
Tax only discrete items (4) | — |  | (7.4 | ) |  |  | — |  | (4.0 | ) |
Total discrete items | $ | (48.3 | ) | $ | (23.6 | ) |  |  | $ | 52.4 |  | $ | 3.3 |  |
Continuing operations, before discrete items | $ | 283.5 |  | $ | 45.1 |  |  |  | $ | 106.8 |  | $ | 12.7 |  |
Estimated Annualized Effective Tax Rate (EAETR) (5) |  |  | 15.9 | % |  |  |  | 11.9 | %
___________________
(1) | See Note 4 for more information on transaction-related charges.
(2) | Represents transaction gains or losses for currency remeasurement offset by associated hedge gains or losses, which are accounted for discretely in accordance with GAAP. Certain transaction gains or losses for currency remeasurement are not taxable, while offsetting hedge gains or losses are taxable.
(3) | GAAP generally requires subsidiaries for which a full valuation allowance has been provided to be excluded from the EAETR. For the three months ended March 31, 2018, other discrete items represent the gain attributable to the sale of a portion of FMC's European herbicide portfolio to Nufarm Limited partially offset by the discrete accounting for excluded pretax losses of subsidiaries for which a full valuation allowance has been provided. See Note 4 for additional information on the Company’s Nufarm divestment. For the three months ended March 31, 2017, the other discrete items component of the EAETR reconciliation primarily relates to the discrete accounting for the excluded pretax losses of subsidiaries for which a full valuation allowance has been provided.
(4) | For the three months ended March 31, 2018, tax only discrete items are comprised of the tax effect of currency remeasurement associated with foreign statutory operations, changes in realizability of certain deferred tax assets, and changes to our provisional income tax expense associated with the enactment of the Act. For the three months ended March 31, 2017, this component was comprised primarily of the tax effect of changes in valuation allowances of historical deferred tax assets.
(5) | The primary drivers for the increase in the first quarter effective tax rate for 2018 as compared to 2017 are shown in the table above. The remaining change was due to the integration of the DuPont Crop Protection Business into our global supply chain as well as the effect of the global intangible low-taxed income (GILTI) provisions of the Act.

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32687-109319 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration