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Income Taxes (Tables)
 3 Months Ended
Mar. 31, 2019
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,
 
2019
 
2018
(in Millions)
Before Tax
Tax
Effective Tax Rate %
 
Before Tax
Tax
Effective Tax Rate %
Continuing operations
$
243.9

$
36.3

14.9
%
 
$
290.7

$
60.5

20.8
%
Discrete items:
 
 
 
 
 
 
 
Currency remeasurement (1)
$
1.9

$
0.9

 
 
$
(1.7
)
$
0.6

 
Other discrete items (2)
46.0

3.3

 
 
(53.5
)
(18.1
)
 
Tax only discrete items (3)
—

2.4

 
 
—

(8.3
)
 
Total discrete items
$
47.9

$
6.6

 
 
$
(55.2
)
$
(25.8
)
 
Continuing operations, before discrete items
$
291.8

$
42.9

 
 
$
235.5

$
34.7

 
Estimated Annualized Effective Tax Rate (EAETR)
 
 
14.7
%
 
 
 
14.7
%
___________________ 
(1)
Represents transaction gains or losses for currency remeasurement offset by associated hedge gains or losses, which are accounted for discretely in accordance with U.S. GAAP. Certain transaction gains or losses for currency remeasurement are not taxable, while offsetting hedge gains or losses are taxable.
(2)
U.S. GAAP generally requires subsidiaries for which a full valuation allowance has been provided to be excluded from the EAETR. During the three months ended March 31, 2019, other discrete items were materially comprised of the discrete accounting for excluded pretax losses of subsidiaries for which a full valuation allowance has been provided. 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.
(3)
For the three months ended March 31, 2019 and 2018, tax only discrete items are primarily comprised of the tax effect of currency remeasurement associated with foreign statutory operations, excess tax benefits associated with share-based compensation, and changes in prior year estimates of subsidiary tax liabilities.