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Environmental Obligations | 6 Months Ended
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Jun. 30, 2020
Environmental Remediation Obligations [Abstract] |
Environmental Obligations | Environmental Obligations We have reserves for potential environmental obligations which we consider probable and which we can reasonably estimate. The following table is a roll forward of our total environmental reserves, continuing and discontinued:
(in Millions) | Gross |  | Recoveries (3) |  | Net
Total environmental reserves at December 31, 2019 | $ | 595.8 |  |  | $ | (10.0) |  |  | $ | 585.8 |
Provision (Benefit) | 12.6 |  |  | (0.6) |  |  | 12.0 |
(Spending) Recoveries | (40.1) |  |  | 0.6 |  |  | (39.5) |
Foreign currency translation adjustments | 0.5 |  |  | — |  |  | 0.5 |
Net change | $ | (27.0) |  |  | $ | — |  |  | $ | (27.0) |
Total environmental reserves at June 30, 2020 | $ | 568.8 |  |  | $ | (10.0) |  |  | $ | 558.8 |
Environmental reserves, current (1) | $ | 128.4 |  |  | $ | (1.4) |  |  | $ | 127.0 |
Environmental reserves, long-term (2) | 440.4 |  |  | (8.6) |  |  | 431.8 |
Total environmental reserves at June 30, 2020 | $ | 568.8 |  |  | $ | (10.0) |  |  | $ | 558.8 |
____________________ (1)These amounts are included within "Accrued and other liabilities" on the condensed consolidated balance sheets. (2)These amounts are included in "Environmental liabilities, continuing and discontinued" on the condensed consolidated balance sheets. (3)These recorded recoveries represent probable realization of claims against U.S. government agencies and are recorded as an offset to our environmental reserves in the condensed consolidated balance sheets. The estimated reasonably possible environmental loss contingencies, net of expected recoveries, exceed amounts accrued by approximately $150 million at June 30, 2020. This reasonably possible estimate is based upon information available as of the date of the filing but the actual future losses may be higher given the uncertainties regarding the status of laws, regulations, enforcement policies, the impact of potentially responsible parties, technology and information related to individual sites. Potential environmental obligations that have not been reserved may be material to any one quarter's or year's results of operations in the future. However, we believe any such liability arising from such potential environmental obligations is not likely to have a material adverse effect on our liquidity or financial condition as it may be satisfied over many years. The table below provides a roll forward of our environmental recoveries representing probable realization of claims against insurance carriers and other third parties. These recoveries are recorded as "Other assets including long-term receivables, net" in the condensed consolidated balance sheets.
(in Millions) | December 31, 2019 |  | Increase (Decrease) in recoveries |  | Cash received (1) |  |  |  | June 30, 2020
Environmental recoveries | $ | 27.3 |  |  | (3.3) |  |  | (20.3) |  |  |  |  | $ | 3.7 |
____________________ (1) During the first quarter of 2020, we entered into a confidential insurance settlement pertaining to coverage at a legacy environmental site, which settlement resulted in a cash payment to FMC in the amount of $20.0 million. Our net environmental provisions relate to costs for the continued cleanup of both continuing and discontinued manufacturing operations from previous years. The net provisions are comprised as follows:
| Three Months Ended June 30, |  |  |  | Six Months Ended June 30, |  |
(in Millions) | 2020 |  | 2019 |  | 2020 |  | 2019
Environmental provisions, net - recorded to liabilities (1) | $ | 6.7 |  |  | $ | 10.0 |  |  | $ | 12.0 |  |  | $ | 12.5 |
Environmental provisions, net - recorded to assets (2) | (0.1) |  |  | (0.5) |  |  | 3.4 |  |  | (0.6) |
Environmental provision, net | $ | 6.6 |  |  | $ | 9.5 |  |  | $ | 15.4 |  |  | $ | 11.9 |
Continuing operations (3) | $ | 3.3 |  |  | $ | 5.6 |  |  | $ | 9.7 |  |  | $ | 8.2 |
Discontinued operations (4) | 3.3 |  |  | 3.9 |  |  | 5.7 |  |  | 3.7 |
Environmental provision, net | $ | 6.6 |  |  | $ | 9.5 |  |  | $ | 15.4 |  |  | $ | 11.9 |
____________________ (1) See above roll forward of our total environmental reserves as presented on the condensed consolidated balance sheets. (2) See above roll forward of our total environmental recoveries as presented on the condensed consolidated balance sheets. (3) Recorded as a component of "Restructuring and other charges (income)" on the condensed consolidated statements of income (loss). See Note 10. Environmental obligations for continuing operations primarily represent obligations at shut down or abandoned facilities within businesses that do not meet the criteria for presentation as discontinued operations. (4) Recorded as a component of "Discontinued operations, net of income taxes" on the condensed consolidated statements of income (loss). See Note 12. A more complete description of our environmental contingencies and the nature of our potential obligations are included in Notes 1 and 12 to our consolidated financial statements in our 2019 Form 10-K. See Note 12 to our consolidated financial statements in our 2019 Form 10-K for a description of significant updates to material environmental sites. There have been no significant updates since the information included in our 2019 Form 10-K other than the update provided below. Pocatello Tribal Litigation On March 16, 2020, FMC filed a petition in the United States Supreme Court to review the Ninth Circuit’s decision. On June 29, 2020 the Supreme Court invited the Solicitor General to file a brief in this case expressing the views of the United States with respect to the litigation. As of the filing of this Form 10-Q, the Supreme Court has not made a decision on whether or not to grant FMC’s petition for writ of certiorari. Payment of the judgment, if necessary, will not take place until final disposition by the United States Supreme Court. There was no change to our existing reserves as a result of the most recent events.

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- Definition The entire disclosure for environmental loss contingencies, such as presence of hazardous waste, relevant information from reports issued by regulators, and estimated costs to achieve compliance with regulatory requirements. This element may be used for all of an entity's disclosures about environmental loss contingencies. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 410 -SubTopic 30 -URI http://asc.fasb.org/subtopic&trid=2175709 + Details
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