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Principal Accounting Policies and Related Financial Information (Tables)
 12 Months Ended
Dec. 31, 2022
Accounting Policies [Abstract]  
Schedule of New Accounting Pronouncements and Changes in Accounting Principles The following tables summarize the effect of these accounting changes on impacted line items in our consolidated financial statements as follows:
CONSOLIDATED STATEMENTS OF INCOME (LOSS)
(in Millions, except per share data)As computed under LIFO and Pension deferred MRVA MethodAs reported under FIFO and Pension Fair Value MethodEffect of change
Year ended December 31, 2022
Cost of sales and services$3,475.5 $3,475.5 $— 
Gross margin$2,326.8 $2,326.8 $— 
Total costs and expenses$4,658.0 $4,658.0 $— 
Income from continuing operations before non-operating pension and postretirement charges (income), interest expense, net and income taxes$1,144.3 $1,144.3 $— 
Non-operating pension and postretirement charges (income)$16.0 $8.6 $(7.4)
Income (loss) from continuing operations before income taxes$976.5 $983.9 $7.4 
Provision (benefit) for income taxes$143.6 $145.2 $1.6 
Income (loss) from continuing operations$832.9 $838.7 $5.8 
Net income (loss)$735.7 $741.5 $5.8 
Net income (loss) attributable to FMC stockholders$730.7 $736.5 $5.8 
Basic earnings (loss) per common share attributable to FMC stockholders:
Continuing operations$6.55 $6.60 $0.05 
Net income (loss) attributable to FMC stockholders$5.78 $5.83 $0.05 
Diluted earnings (loss) per common share attributable to FMC stockholders:
Continuing operations$6.53 $6.58 $0.05 
Net income (loss) attributable to FMC stockholders$5.76 $5.81 $0.05 
(in Millions, except per share data)As Previously ReportedEffect of FIFO ChangeEffect of Pension ChangeCombined Effect of ChangesAs Adjusted
Year ended December 31, 2021
Cost of sales and services$2,873.5 $10.4 $— $10.4 $2,883.9 
Gross margin$2,171.7 $(10.4)$— $(10.4)$2,161.3 
Total costs and expenses$4,000.3 $10.4 $— $10.4 $4,010.7 
Income from continuing operations before non-operating pension and postretirement charges (income), interest expense, net and income taxes$1,044.9 $(10.4)$— $(10.4)$1,034.5 
Non-operating pension and postretirement charges (income)$20.0 $— $(14.4)$(14.4)$5.6 
Income (loss) from continuing operations before income taxes$893.8 $(10.4)$14.4 $4.0 $897.8 
Provision (benefit) for income taxes$91.6 $(2.2)$3.1 $0.9 $92.5 
Income (loss) from continuing operations$802.2 $(8.2)$11.3 $3.1 $805.3 
Net income (loss)$734.0 $(8.2)$11.3 $3.1 $737.1 
Net income (loss) attributable to FMC stockholders$736.5 $(8.2)$11.3 $3.1 $739.6 
Basic earnings (loss) per common share attributable to FMC stockholders:
Continuing operations$6.25 $(0.06)$0.09 $0.03 $6.29 
Net income (loss) attributable to FMC stockholders$5.72 $(0.06)$0.09 $0.03 $5.76 
Diluted earnings (loss) per common share attributable to FMC stockholders:
Continuing operations$6.23 $(0.06)$0.09 $0.03 $6.26 
Net income (loss) attributable to FMC stockholders$5.70 $(0.06)$0.09 $0.03 $5.73 
(in Millions, except per share data)As Previously ReportedEffect of FIFO ChangeEffect of Pension ChangeCombined Effect of ChangesAs Adjusted
Year ended December 31, 2020
Cost of sales and services$2,590.1 $5.3 $— $5.3 $2,595.4 
Gross margin$2,052.0 $(5.3)$— $(5.3)$2,046.7 
Total costs and expenses$3,739.9 $5.3 $— $5.3 $3,745.2 
Income from continuing operations before non-operating pension and postretirement charges (income), interest expense, net and income taxes$902.2 $(5.3)$— $(5.3)$896.9 
Non-operating pension and postretirement charges (income)$21.2 $— $(6.5)$(6.5)$14.7 
Income (loss) from continuing operations before income taxes$729.8 $(5.3)$6.5 $1.2 $731.0 
Provision (benefit) for income taxes$150.9 $(1.1)$1.4 $0.3 $151.2 
Income (loss) from continuing operations$578.9 $(4.2)$5.1 $0.9 $579.8 
Net income (loss)$550.6 $(4.2)$5.1 $0.9 $551.5 
Net income (loss) attributable to FMC stockholders$551.5 $(4.2)$5.1 $0.9 $552.4 
Basic earnings (loss) per common share attributable to FMC stockholders:
Continuing operations$4.46 $(0.03)$0.04 $0.01 $4.48 
Net income (loss) attributable to FMC stockholders$4.24 $(0.03)$0.04 $0.01 $4.26 
Diluted earnings (loss) per common share attributable to FMC stockholders:
Continuing operations$4.44 $(0.03)$0.04 $0.01 $4.45 
Net income (loss) attributable to FMC stockholders$4.22 $(0.03)$0.04 $0.01 $4.23 

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)

(in Millions, except per share data)As computed under LIFO and Pension deferred MRVA MethodAs reported under FIFO and Pension Fair Value MethodEffect of change
Year ended December 31, 2022
Net income (loss)$735.7 $741.5 $5.8 
Pension and other postretirement benefits:
Unrealized actuarial gains (losses) and prior service (costs) credits, net of tax expense (benefit) of $(1.7) as computed and $(4.3) as reported for the twelve months ended December 31, 2022
$(15.7)$(15.7)$— 
Reclassification of net actuarial and other (gain) loss and amortization of prior service costs, included in net income, net of tax (expense) benefit of $3.5 as computed and $2.4 as reported for the twelve months ended December 31, 2022
$14.9 $9.1 $(5.8)
Total pension and other postretirement benefits, net of tax expense (benefit) of $1.8 as computed and $(1.9) as reported for the twelve months ended December 31, 2022
$(0.8)$(6.6)$(5.8)
Other comprehensive income (loss), net of tax$(140.8)$(135.0)$(5.8)
Comprehensive income (loss)$606.5 $606.5 $— 
Comprehensive income (loss) attributable to FMC stockholders$602.4 $602.4 $— 
(in Millions, except per share data)As Previously ReportedEffect of FIFO ChangeEffect of Pension ChangeCombined Effect of ChangesAs Adjusted
Year ended December 31, 2021
Net income (loss)$734.0 $(8.2)$11.3 $3.1 $737.1 
Pension and other postretirement benefits:
Unrealized actuarial gains (losses) and prior service (costs) credits, net of tax expense (benefit) of $(4.5) as adjusted and $(3.8) as previously reported for the twelve months ended December 31, 2021
$(14.5)$— $(2.9)$(2.9)$(17.4)
Reclassification of net actuarial and other (gain) loss and amortization of prior service costs, included in net income, net of tax (expense) benefit of $2.5 as adjusted and $4.8 as previously reported for the twelve months ended December 31, 2021
$17.9 $— $(8.4)$(8.4)$9.5 
Total pension and other postretirement benefits, net of tax expense (benefit) of $(2.0) as adjusted and $1.0 as previously reported for the twelve months ended December 31, 2021
$3.4 $— $(11.3)$(11.3)$(7.9)
Other comprehensive income (loss), net of tax$(34.0)$— $(11.3)$(11.3)$(45.3)
Comprehensive income (loss)$700.0 $(8.2)$— $(8.2)$691.8 
Comprehensive income (loss) attributable to FMC stockholders$703.0 $(8.2)$— $(8.2)$694.8 

(in Millions, except per share data)As Previously ReportedEffect of FIFO ChangeEffect of Pension ChangeCombined Effect of ChangesAs Adjusted
Year ended December 31, 2020
Net income (loss)$550.6 $(4.2)$5.1 $0.9 $551.5 
Pension and other postretirement benefits:
Unrealized actuarial gains (losses) and prior service (costs) credits, net of tax expense (benefit) of $4.7 as adjusted and $5.2 as previously reported for the twelve months ended December 31, 2020
$18.9 $— $(1.6)$(1.6)$17.3 
Reclassification of net actuarial and other (gain) loss and amortization of prior service costs, included in net income, net of tax (expense) benefit of $3.3 as adjusted and $4.2 as previously reported for the twelve months ended December 31, 2020
$16.0 $— $(3.5)$(3.5)$12.5 
Total pension and other postretirement benefits, net of tax expense (benefit) of $8.0 as adjusted and $9.4 as previously reported for the twelve months ended December 31, 2020
$34.9 $— $(5.1)$(5.1)$29.8 
Other comprehensive income (loss), net of tax$130.1 $— $(5.1)$(5.1)$125.0 
Comprehensive income (loss)$680.7 $(4.2)$— $(4.2)$676.5 
Comprehensive income (loss) attributable to FMC stockholders$681.3 $(4.2)$— $(4.2)$677.1 
CONSOLIDATED BALANCE SHEETS

(in Millions)As computed under LIFO and Pension deferred MRVA MethodAs reported under FIFO and Pension Fair Value MethodEffect of change
December 31, 2022
Inventories$1,535.4 $1,651.6 $116.2 
Total current assets$5,322.4 $5,438.6 $116.2 
Deferred income taxes$235.1 $210.7 $(24.4)
TOTAL ASSETS$11,079.5 $11,171.3 $91.8 
Retained earnings$5,448.5 $5,555.9 $107.4 
Accumulated other comprehensive income (loss)$(444.0)$(459.6)$(15.6)
Total FMC stockholders’ equity$3,286.1 $3,377.9 $91.8 
Total equity$3,309.1 $3,400.9 $91.8 
TOTAL LIABILITIES AND EQUITY$11,079.5 $11,171.3 $91.8 

(in Millions)As Previously ReportedEffect of LIFO ChangeEffect of Pension ChangeEffect of changeAs Adjusted
December 31, 2021
Inventories$1,405.7 $116.2 $— $116.2 $1,521.9 
Total current assets$4,937.6 $116.2 $— $116.2 $5,053.8 
Deferred income taxes$218.5 $(24.4)$— $(24.4)$194.1 
TOTAL ASSETS$10,581.3 $91.8 $— $91.8 $10,673.1 
Retained earnings$4,991.3 $91.8 $9.8 $101.6 $5,092.9 
Accumulated other comprehensive income (loss)$(315.7)$— $(9.8)$(9.8)$(325.5)
Total FMC stockholders’ equity$3,032.5 $91.8 $— $91.8 $3,124.3 
Total equity$3,051.9 $91.8 $— $91.8 $3,143.7 
TOTAL LIABILITIES AND EQUITY$10,581.3 $91.8 $— $91.8 $10,673.1 
CONSOLIDATED STATEMENTS OF CASH FLOWS

(in Millions)As computed under LIFO and Pension deferred MRVA MethodAs reported under FIFO and Pension Fair Value MethodEffect of change
Year ended December 31, 2022
Cash provided (required) by operating activities of continuing operations:
Net income (loss)$735.7 $741.5 $5.8 
Income (loss) from continuing operations$832.9 $838.7 $5.8 
Adjustments from income (loss) from continuing operations to cash provided (required) by operating activities of continuing operations:
Deferred income taxes$(54.3)$(52.7)$1.6 
Pension and other postretirement benefits$19.9 $12.5 $(7.4)
Changes in operating assets and liabilities, net of effect of acquisitions and divestitures:
Inventories$(182.3)$(182.3)$— 
Net cash provided (required) by operating activities of continuing operations$660.0 $660.0 $— 

(in Millions)As Previously ReportedEffect of FIFO ChangeEffect of Pension ChangeCombined Effect of ChangesAs Adjusted
Year ended December 31, 2021
Cash provided (required) by operating activities of continuing operations:
Net income (loss)$734.0 $(8.2)$11.3 $3.1 $737.1 
Income (loss) from continuing operations$802.2 $(8.2)$11.3 $3.1 $805.3 
Adjustments from income (loss) from continuing operations to cash provided (required) by operating activities of continuing operations:
Deferred income taxes$9.7 $(2.2)$3.1 $0.9 $10.6 
Pension and other postretirement benefits$24.9 $— $(14.4)$(14.4)$10.5 
Changes in operating assets and liabilities, net of effect of acquisitions and divestitures:
Inventories$(331.1)$10.4 $— $10.4 $(320.7)
Net cash provided (required) by operating activities of continuing operations$898.6 $— $— $— $898.6 
(in Millions)As Previously ReportedEffect of FIFO ChangeEffect of Pension ChangeCombined Effect of ChangesAs Adjusted
Year ended December 31, 2020
Cash provided (required) by operating activities of continuing operations:
Net income (loss)$550.6 $(4.2)$5.1 $0.9 $551.5 
Income (loss) from continuing operations$578.9 $(4.2)$5.1 $0.9 $579.8 
Adjustments from income (loss) from continuing operations to cash provided (required) by operating activities of continuing operations:
Deferred income taxes$33.6 $(1.1)$1.4 $0.3 $33.9 
Pension and other postretirement benefits$25.8 $— $(6.5)$(6.5)$19.3 
Changes in operating assets and liabilities, net of effect of acquisitions and divestitures:
Inventories$(59.7)$5.3 $— $5.3 $(54.4)
Net cash provided (required) by operating activities of continuing operations$736.8 $— $— $— $736.8 

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY

 FMC Stockholders’ Equity
(in Millions, Except Per Share Data)As Previously ReportedEffect of FIFO ChangeEffect of Pension ChangeCombined Effect of ChangesAs Adjusted
Balance at December 31, 2019
Retained earnings$4,188.8 $104.2 $(6.6)$97.6 $4,286.4 
Accumulated Other Comprehensive Income (Loss)
$(412.0)$— $6.6 $6.6 $(405.4)
Total equity$2,561.4 $104.2 $— $104.2 $2,665.6 

FMC Stockholders’ Equity
(in Millions, Except Per Share Data)As Previously ReportedEffect of FIFO ChangeEffect of Pension ChangeCombined Effect of ChangesAs Adjusted
Balance at December 31, 2020
Retained earnings$4,506.4 $100.0 $(1.5)$98.5 $4,604.9 
Accumulated Other Comprehensive Income (Loss)
$(282.2)$— $1.5 $1.5 $(280.7)
Total equity$2,984.2 $100.0 $— $100.0 $3,084.2 
FMC Stockholders’ Equity
(in Millions, Except Per Share Data)As Previously ReportedEffect of FIFO ChangeEffect of Pension ChangeCombined Effect of ChangesAs Adjusted
Balance at December 31, 2021
Retained earnings$4,991.3 $91.8 $9.8 $101.6 $5,092.9 
Accumulated Other Comprehensive Income (Loss)
$(315.7)$— $(9.8)$(9.8)$(325.5)
Total equity$3,051.9 $91.8 $— $91.8 $3,143.7 

 FMC Stockholders’ Equity
(in Millions, Except Per Share Data)As computed under LIFO and Pension deferred MRVA MethodAs Reported under FIFO and Pension Fair Value MethodEffect of change
Balance at December 31, 2022
Retained earnings$5,448.5 $5,555.9 $107.4 
Accumulated Other Comprehensive Income (Loss)
$(444.0)$(459.6)$(15.6)
Total equity$3,309.1 $3,400.9 $91.8 
COVID-19. During the height of the COVID pandemic, many countries, including the United States, subsequently imposed restrictions on both travel and business closures in an effort to mitigate the spread of COVID. As an agricultural sciences company, we are considered an "essential" industry in the countries in which we operate and have avoided significant plant closures and all our manufacturing facilities and distribution warehouses are operational. The extent to which COVID will continue to impact us will depend on future developments, many of which remain uncertain and cannot be predicted with confidence, including the duration of the pandemic, further actions to be taken to contain the pandemic or mitigate its impact, and the extent of the direct and indirect economic effects of the pandemic and containment measures, among others.