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Discontinued Operations | 3 Months Ended
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Mar. 31, 2019
Discontinued Operations and Disposal Groups [Abstract] |
Discontinued Operations | Discontinued Operations FMC Lithium (Livent Corporation): On March 1, 2019, we completed the previously announced distribution of 123 million shares of common stock of Livent as a pro rata dividend on shares of FMC common stock outstanding at the close of business on the record date of February 25, 2019. Refer to Note 1 for further information. The results of our discontinued FMC Lithium operations are summarized below:
(in Millions) | Three Months Ended March 31,
2019 |  | 2018
Revenue | $ | 52.1 |  |  | $ | 102.8 |
Costs of sales and services | 41.3 |  |  | 50.6 |
Income (loss) from discontinued operations before income taxes (1) | $ | 1.1 |  |  | $ | 43.8 |
Provision (benefit) for income taxes | 6.0 |  |  | 8.8 |
Total discontinued operations of FMC Lithium, net of income taxes, before separation-related costs and other adjustments | $ | (4.9 | ) |  | $ | 35.0 |
Separation-related costs and other adjustments of discontinued operations of FMC Lithium, net of income taxes | (5.1 | ) |  | (2.1 | )
Discontinued operations of FMC Lithium, net of income taxes | $ | (10.0 | ) |  | $ | 32.9 |
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(1) | For the three months ended March 31, 2018, amounts include $2.2 million of restructuring and other charges (income).
The following table presents the major classes of assets and liabilities of FMC Lithium:
(in Millions) | March 31, 2019 |  | December 31, 2018
Assets |  |  |
Current assets of discontinued operations (1) | $ | — |  |  | $ | 293.9 |
Property, plant and equipment (2) | — |  |  | 275.7 |
Other noncurrent assets (2) | — |  |  | 83.1 |
Total assets of discontinued operations | $ | — |  |  | $ | 652.7 |
Liabilities |  |  |
Current liabilities of discontinued operations (3) | $ | — |  |  | $ | 97.3 |
Noncurrent liabilities of discontinued operations (4) | — |  |  | 46.1 |
Total liabilities of discontinued operations | $ | — |  |  | $ | 143.4 |
Total net assets | $ | — |  |  | $ | 509.3 |
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(1) | Primarily consists of cash and cash equivalents, trade receivables, and inventories. Presented as "Current assets of discontinued operations" on the condensed consolidated balance sheets as of December 31, 2018.
(2) | Presented as "Noncurrent assets of discontinued operations" on the condensed consolidated balance sheets as of December 31, 2018.
(3) | Presented as "Current liabilities of discontinued operations" on the condensed consolidated balance sheets as of December 31, 2018.
(4) | Presented as "Noncurrent liabilities of discontinued operations" on the condensed consolidated balance sheets as of December 31, 2018.
FMC Health and Nutrition: On November 1, 2017, we completed the previously disclosed sale of our FMC Health and Nutrition business to DuPont. The sale resulted in a gain of approximately $918 million ($727 million, net of tax). In connection with the sale, we entered into a customary transitional services agreement with DuPont to provide for the orderly separation and transition of various functions and processes. These services will be provided by us to DuPont for up to an initial 24 months after closing, with an additional six months extension. These services include information technology services, accounting, human resource and facility services among other services, while DuPont assumes the operations of FMC Health and Nutrition. Certain sites were to transfer at a later date due to various local timing constraints. In May 2018, the last site transferred to DuPont. The results of our discontinued FMC Health and Nutrition operations are summarized below, including the results of these delayed sites included in the three months ended March 31, 2018:
(in Millions) | Three Months Ended March 31,
2019 |  | 2018
Revenue | $ | — |  |  | $ | 2.9 |
Costs of sales and services | — |  |  | 2.8 |
Income (loss) from discontinued operations before income taxes (1) | $ | — |  |  | $ | (3.1 | )
Provision (benefit) for income taxes | — |  |  | (0.6 | )
Total discontinued operations of FMC Health and Nutrition, net of income taxes, before divestiture related costs and adjustments | $ | — |  |  | $ | (2.5 | )
Adjustment to gain on sale of FMC Health and Nutrition, net of income taxes | — |  |  | 16.2 |
Divestiture related costs and other adjustments of discontinued operations of FMC Health and Nutrition, net of income taxes | 0.7 |  |  | (0.5 | )
Discontinued operations of FMC Health and Nutrition, net of income taxes, attributable to FMC Stockholders | $ | 0.7 |  |  | $ | 13.2 |
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(1) | Results for the three months ended March 31, 2018 include an adjustment to retained liabilities of the disposed FMC Health and Nutrition business.
Discontinued operations include the results of FMC Lithium and adjustments to retained assets and liabilities as well as provisions, net of recoveries, for environmental liabilities and legal reserves and expenses related to previously discontinued operations and retained liabilities. The primary liabilities retained include environmental liabilities, other postretirement benefit liabilities, self-insurance, long-term obligations related to legal proceedings and historical restructuring activities. Our discontinued operations comprised the following:
(in Millions) | Three Months Ended March 31,
2019 |  | 2018
Adjustment for workers’ compensation, product liability, other postretirement benefits and other, net of income tax benefit (expense) of ($4.4) and ($1.0) for the three months ended March 31, 2019 and 2018, respectively (1) | $ | 22.3 |  |  | $ | 3.6 |
Provision for environmental liabilities, net of recoveries, net of income tax benefit (expense) of zero and $0.5 for the three months ended March 31, 2019 and 2018, respectively (2) | 0.2 |  |  | (3.2 | )
Provision for legal reserves and expenses, net of recoveries, net of income tax benefit of $1.0 and $1.8 for the three months ended March 31, 2019 and 2018, respectively | (3.6 | ) |  | (7.1 | )
Discontinued operations of FMC Health and Nutrition, net of income tax benefit (expense) of ($0.2) and ($2.6) for the three months ended March 31, 2019 and 2018, respectively | 0.7 |  |  | 13.2 |
Discontinued operations of FMC Lithium, net of income tax benefit (expense) of ($4.7) and ($8.2) for the three months ended March 31, 2019 and 2018, respectively | (10.0 | ) |  | 32.9 |
Discontinued operations, net of income taxes | $ | 9.6 |  |  | $ | 39.4 |
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(1) | During the three months ended March 31, 2019, we finalized the sale of the first of two parcels of land of our discontinued site in Newark, California and recorded a gain of approximately $21 million, net of tax. Results for the three months ended March 31, 2019 include these real estate proceeds.
(2) See a roll forward of our environmental reserves as well as discussion on significant environmental issues that occurred during 2019 in Note 13.

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- Definition The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=2122178 + Details
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