XML 86 R27.htm IDEA: XBRL DOCUMENT v3.20.4
Equity
 12 Months Ended
Dec. 31, 2020
Equity [Abstract]  
Equity Equity
The following is a summary of our capital stock activity over the past three years:
Common
Stock Shares
Treasury
Stock Shares
December 31, 2017185,983,792 51,653,236 
Stock options and awards— (390,553)
Repurchases of common stock, net— 2,439,495 
December 31, 2018185,983,792 53,702,178 
Stock options and awards— (1,563,307)
Repurchases of common stock, net— 4,720,627 
December 31, 2019185,983,792 56,859,498 
Stock options and awards— (677,827)
Repurchases of common stock, net— 448,538 
December 31, 2020185,983,792 56,630,209 
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, 2017$(6.2)$5.2 $(239.3)$(240.3)
2018 Activity
Other comprehensive income (loss) before reclassifications$(95.3)$13.7 $4.2 $(77.4)
Amounts reclassified from accumulated other comprehensive income (loss)— (7.7)16.5 8.8 
Accumulated other comprehensive income (loss), net of tax at December 31, 2018$(101.5)$11.2 $(218.6)$(308.9)
2019 Activity
Other comprehensive income (loss) before reclassifications$(15.2)$(69.0)$(6.5)$(90.7)
Amounts reclassified from accumulated other comprehensive income (loss)— (8.2)9.9 1.7 
Net current period other comprehensive income (loss)$(15.2)$(77.2)$3.4 $(89.0)
Adoption of accounting standard (Note 2)— 1.0 (54.1)$(53.1)
Distribution of FMC Lithium (3)
39.0 — — 39.0 
Accumulated other comprehensive income (loss), net of tax at December 31, 2019$(77.7)$(65.0)$(269.3)$(412.0)
2020 Activity
Other comprehensive income (loss) before reclassifications$101.7 $(2.5)$18.9 $118.1 
Amounts reclassified from accumulated other comprehensive income (loss)— (4.3)16.0 11.7 
Accumulated other comprehensive income (loss), net of tax at December 31, 2020$24.0 $(71.8)$(234.4)$(282.2)
____________________
(1)See Note 19 for more information.
(2)See Note 15 for more information.
(3)Represents the effects of the distribution of FMC Lithium.
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 consolidated statements of income (loss) for each of the periods presented.

Details about Accumulated Other Comprehensive Income (Loss) Components
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) (1)
Affected Line Item in the Consolidated Statements of Income (Loss)
Year Ended December 31,
(in Millions)202020192018
Derivative instruments:
Foreign currency contracts$24.6 $10.0 $18.9 Costs of sales and services
Foreign currency contracts(19.3)1.9 (8.0)Selling, general and administrative expenses
Interest rate contracts(2.7)(0.7)(0.4)Interest expense
Total before tax$2.6 $11.2 $10.5 
1.7 (3.0)(2.8)Provision for income taxes
Amount included in net income$4.3 $8.2 $7.7 
Pension and other postretirement benefits (2):
Amortization of prior service costs$(0.3)$(0.3)$(0.3)Selling, general and administrative expenses
Amortization of unrecognized net actuarial and other gains (losses)(19.2)(10.8)(14.4)Non-operating pension and postretirement charges (income)
Recognized loss due to settlement/curtailment(0.7)(1.4)(6.1)Non-operating pension and postretirement charges (income); Discontinued operations, net of income taxes
Total before tax$(20.2)$(12.5)$(20.8)
4.2 2.6 4.3 Provision for income taxes; Discontinued operations, net of income taxes
Amount included in net income$(16.0)$(9.9)$(16.5)
Total reclassifications for the period$(11.7)$(1.7)$(8.8)Amount included in net income
____________________
(1)Amounts in parentheses indicate charges to the 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 15.

Transactions with Noncontrolling Interest
In July 2020, we purchased the remaining 49 percent ownership interest in our Indonesia joint venture, PT Bina Guna Kimia ("BGK"), for $7.4 million which increased our ownership from 51 percent to 100 percent.
As a result of the IPO and underwriters' exercise to purchase additional shares of common stock in the fourth quarter of 2018, our controlling interest in FMC Lithium was approximately 84 percent. On March 1, 2019, we completed the previously announced distribution of the remaining shares of common stock of Livent. See Note 1 for further information.
Dividends and Share Repurchases
On January 21, 2021, we paid dividends totaling $62.3 million to our shareholders of record as of December 31, 2020. This amount is included in "Accrued and other liabilities" on the consolidated balance sheets as of December 31, 2020. For the years ended December 31, 2020, 2019 and 2018, we paid $228.5 million, $210.3 million and $89.2 million in dividends, respectively.
In 2020, 0.4 million shares were repurchased under the publicly announced repurchase program. At December 31, 2020, approximately $550 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.