XML 37 R25.htm IDEA: XBRL DOCUMENT v3.19.2
Equity
6 Months Ended
Jun. 30, 2019
Equity [Abstract]  
Equity Equity

Accumulated other comprehensive income (loss)
Summarized below is the roll forward of accumulated other comprehensive income (loss), net of tax.
(in Millions)
Foreign currency adjustments
 
Derivative Instruments (1)
 
Pension and other postretirement benefits (2)
 
Total
Accumulated other comprehensive income (loss), net of tax at December 31, 2018
$
(101.5
)
 
$
11.2

 
$
(218.6
)
 
$
(308.9
)
2019 Activity
 
 
 
 
 
 
 
Other comprehensive income (loss) before reclassifications
6.1

 
(36.5
)
 

 
(30.4
)
Amounts reclassified from accumulated other comprehensive income (loss)

 
(6.8
)
 
6.7

 
(0.1
)
Net current period other comprehensive income (loss)
$
6.1

 
$
(43.3
)
 
$
6.7

 
$
(30.5
)
Adoption of accounting standard (Note 2)

 
1.0

 
(54.1
)
 
(53.1
)
Distribution of FMC Lithium (3)
39.0

 

 

 
39.0

Accumulated other comprehensive income (loss), net of tax at June 30, 2019
$
(56.4
)
 
$
(31.1
)
 
$
(266.0
)
 
$
(353.5
)
(in Millions)
Foreign currency adjustments
 
Derivative Instruments (1)
 
Pension and other postretirement benefits (2)
 
Total
Accumulated other comprehensive income (loss), net of tax at December 31, 2017
$
(6.2
)
 
$
5.2

 
$
(239.3
)
 
$
(240.3
)
2018 Activity
 
 
 
 
 
 
 
Other comprehensive income (loss) before reclassifications
(67.4
)
 
9.4

 

 
(58.0
)
Amounts reclassified from accumulated other comprehensive income (loss)

 
(1.7
)
 
6.8

 
5.1

Accumulated other comprehensive income (loss), net of tax at June 30, 2018
$
(73.6
)
 
$
12.9

 
$
(232.5
)
 
$
(293.2
)
____________________
(1)     See Note 18 for more information.
(2)    See Note 16 for more information.
(3)    Represents the effects of the distribution of FMC Lithium. Refer to Note 1 for further information.

Reclassifications of accumulated other comprehensive income (loss)
The table below provides details about the reclassifications from accumulated other comprehensive income (loss) and the affected line items in the condensed consolidated statements of income (loss) for each of the periods presented.
Details about Accumulated Other Comprehensive Income Components
 
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) (1)
 
Affected Line Item in the Condensed Consolidated Statements of Income (Loss)
 
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
 
(in Millions)
 
2019
 
2018
 
2019
 
2018
 
 
Derivative instruments
 
 
 
 
 
 
 
 
 
 
Foreign currency contracts
 
$
3.6

 
$
4.3

 
$
6.9

 
$
2.4

 
Costs of sales and services
Foreign currency contracts
 
0.4

 
(1.7
)
 
1.7

 
(0.3
)
 
Selling, general and administrative expenses
Interest rate contracts
 
(0.1
)
 

 
(0.1
)
 

 
Interest expense, net
Total before tax
 
$
3.9

 
$
2.6

 
$
8.5

 
$
2.1

 
 
 
 
(0.7
)
 
(0.5
)
 
(1.7
)
 
(0.4
)
 
Provision for income taxes
Amount included in net income (loss)
 
$
3.2

 
$
2.1

 
$
6.8

 
$
1.7

 
 
 
 
 
 
 
 
 
 
 
 
 
Pension and other postretirement benefits (2)
 
 
 
 
 
 
 
 
 
 
Amortization of prior service costs
 
$

 
$
(0.1
)
 
$
(0.1
)
 
$
(0.2
)
 
Selling, general and administrative expenses
Amortization of unrecognized net actuarial and other gains (losses)
 
(4.2
)
 
(3.5
)
 
(8.4
)
 
(7.1
)
 
Selling, general and administrative expenses
Recognized loss due to curtailment and settlement
 

 
(0.4
)
 

 
(1.3
)
 
Selling, general and administrative expenses
Total before tax
 
$
(4.2
)
 
$
(4.0
)
 
$
(8.5
)
 
$
(8.6
)
 
 
 
 
0.9

 
0.2

 
1.8

 
1.8

 
Provision for income taxes
Amount included in net income (loss)
 
$
(3.3
)
 
$
(3.8
)
 
$
(6.7
)
 
$
(6.8
)
 
 
Total reclassifications for the period
 
$
(0.1
)
 
$
(1.7
)
 
$
0.1

 
$
(5.1
)
 
Amount included in net income
____________________
(1)
Amounts in parentheses indicate charges to the condensed consolidated statements of income (loss).
(2)
Pension and other postretirement benefits amounts include the impact from both continuing and discontinued operations. For detail on the continuing operations components of pension and other postretirement benefits, see Note 16.

Dividends and Share Repurchases
For the six months ended June 30, 2019 and 2018, we paid dividends of $106.0 million and $44.6 million, respectively. On July 18, 2019, we paid dividends totaling $52.3 million to our shareholders of record as of June 28, 2019. This amount is included in “Accrued and other liabilities” on the condensed consolidated balance sheet as of June 30, 2019.

During the six months ended June 30, 2019, 2.6 million shares were repurchased under the publicly announced repurchase program. At June 30, 2019, approximately $800 million remained unused under our Board-authorized repurchase program. This repurchase program does not include a specific timetable or price targets and may be suspended or terminated at any time. Shares may be purchased through open market or privately negotiated transactions at the discretion of management based on its evaluation of market conditions and other factors. We also reacquire shares from time to time from employees in connection with the vesting, exercise and forfeiture of awards under our equity compensation plans.