XML 56 R45.htm IDEA: XBRL DOCUMENT v3.25.1

Financial Instruments, Risk Management and Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2025

Fair Value Disclosures [Abstract]

Schedule of Fair Value Of Financial Instruments, Valuation Method

The carrying value of these financial instruments approximates their fair value. Our other financial instruments include the following:

Financial Instrument						Valuation Method
Foreign exchange forward contracts						Estimated amounts that would be received or paid to terminate the contracts at the reporting date based on current market prices for applicable currencies.
Commodity forward contracts						Estimated amounts that would be received or paid to terminate the contracts at the reporting date based on quoted market prices for applicable commodities.
Debt						Our estimates and information obtained from independent third parties using market data, such as bid/ask spreads for the last business day of the reporting period.

Schedule of Derivative Instruments In Statement of Financial Position, Fair Value

The following tables provide the gross fair value and net balance sheet presentation of our derivative instruments.

			March 31, 2025
			Gross Amount of Derivatives
(in Millions)			Designated as Cash Flow Hedges						Not Designated as Hedging Instruments						Total Gross Amounts						Gross Amounts Subject to Master Netting Arrangements						Net Amounts
Foreign exchange contracts			$	8.6					$	5.2					$	13.8					$	(12.1)					$	1.7
Total derivative assets (1)			$	8.6					$	5.2					$	13.8					$	(12.1)					$	1.7
Foreign exchange contracts			$	(11.4)					$	(10.8)					$	(22.2)					$	12.1					$	(10.1)
Total derivative liabilities (2)			$	(11.4)					$	(10.8)					$	(22.2)					$	12.1					$	(10.1)
Net derivative assets (liabilities)			$	(2.8)					$	(5.6)					$	(8.4)					$	—					$	(8.4)

			December 31, 2024
			Gross Amount of Derivatives
(in Millions)			Designated as Cash Flow Hedges						Not Designated as Hedging Instruments						Total Gross Amounts						Gross Amounts Subject to Master Netting Arrangements						Net Amounts
Foreign exchange contracts			$	25.0					$	22.0					$	47.0					$	(12.9)					$	34.1
Total derivative assets (1)			$	25.0					$	22.0					$	47.0					$	(12.9)					$	34.1
Foreign exchange contracts			$	(8.3)					$	(4.6)					$	(12.9)					$	12.9					$	—
Total derivative liabilities (2)			$	(8.3)					$	(4.6)					$	(12.9)					$	12.9					$	—
Net derivative assets (liabilities)			$	16.7					$	17.4					$	34.1					$	—					$	34.1

______________

(1)    Balance is included in "Prepaid and other current assets" in the consolidated balance sheets.

(2)    Balance is included in "Accrued and other liabilities" in the consolidated balance sheets.

Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance

The tables below summarize the gains or losses related to our cash flow hedges and derivatives not designated as hedging instruments.

Derivatives in Cash Flow Hedging Relationships

			Contracts
			Foreign Exchange																		Interest rate												Total
			Three Months Ended March 31,
(in Millions)			2025						2024																		2025						2024						2025						2024
Unrealized hedging gains (losses) and other, net of tax			$	(16.7)					$	3.7																	$	—					$	—					$	(16.7)					$	3.7
Reclassification of deferred hedging (gains) losses, net of tax (1)			3.0						(0.7)																		0.3						0.4						3.3						(0.3)
Total derivative instrument impact on comprehensive income, net of tax			$	(13.7)					$	3.0																	$	0.3					$	0.4					$	(13.4)					$	3.4

______________

(1)See Note 13 for classification of amounts within the consolidated statements of income (loss).

Derivatives Not Designated as Hedging Instruments

									Amount of Pre-tax Gain (Loss)  Recognized in Income on Derivatives (1)
									Three Months Ended March 31,
(in Millions)									2025						2024
Foreign exchange contracts									$	(0.1)					$	(16.1)
Total									$	(0.1)					$	(16.1)

______________

(1)Amounts in the columns represent the gain or loss on the derivative instrument offset by the gain or loss on the hedged item. These amounts are included in "Costs of sales and services" and to a lesser extent "Selling, general, and administrative expenses" on the consolidated statements of income (loss).

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The following tables present our fair value hierarchy for those assets and liabilities measured at fair value on a recurring basis in the consolidated balance sheets. During the periods presented there were no transfers between fair value hierarchy levels.

(in Millions)			March 31, 2025						Quoted Prices in Active Markets for Identical Assets (Level 1)						Significant Other Observable Inputs (Level 2)						Significant Unobservable Inputs (Level 3)
Assets
Derivatives – Foreign exchange (1)			$	1.7					$	—					$	1.7					$	—
Other (2) (3) (4)			110.6						70.8						—						39.8
Total assets			$	112.3					$	70.8					$	1.7					$	39.8
Liabilities
Derivatives – Foreign exchange (1)			$	10.1					$	—					$	10.1					$	—
Other (2)			22.8						22.8						—						—
Total liabilities			$	32.9					$	22.8					$	10.1					$	—

(in Millions)			December 31, 2024						Quoted Prices in Active Markets for Identical Assets (Level 1)						Significant Other Observable Inputs (Level 2)						Significant Unobservable Inputs (Level 3)
Assets
Derivatives – Foreign exchange (1)			$	34.1					$	—					$	34.1					$	—
Other (2) (3) (4)			120.1						84.1						—						36.0
Total assets			$	154.2					$	84.1					$	34.1					$	36.0
Liabilities
Derivatives – Foreign exchange (1)			$	—					$	—					$	—					$	—
Other (2)			23.2						23.2						—						—
Total liabilities			$	23.2					$	23.2					$	—					$	—

____________________

(1)See the Fair Value of Derivative Instruments table within this Note for classification on the consolidated balance sheets.

(2)Consists of a deferred compensation arrangement, through which we hold various investment securities, recognized on our balance sheets. Both the asset and liability are recorded at fair value. Asset amounts are included in "Other assets including long-term receivables, net" in the consolidated balance sheets. Liability amounts are included in "Other long-term liabilities" in the consolidated balance sheets.

(3)FMC maintains a beneficial interest in a trade receivables securitization fund. The fair value of the beneficial interest is determined by calculating the expected amount of cash to be received on the fund’s outstanding credit notes. As part of this evaluation, we rely on unobservable inputs, including estimating the anticipated credit losses. We consider historical information, current conditions and other reasonable factors as part of this assessment. The amount is included in "Other assets including long-term receivables, net" in the consolidated balance sheets.

(4)Includes money market funds, which consist of highly liquid investments valued at quoted market prices, recognized as "Cash and cash equivalents" on our consolidated balance sheets.

X

- Definition

Schedule Of Fair Value Of Financial Instruments, Valuation Method

+ References

No definition available.

+ Details

Name:	fmc_ScheduleOfFairValueOfFinancialInstrumentsValuationMethodTableTextBlock
Namespace Prefix:	fmc_
Data Type:	dtr-types1:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_FairValueDisclosuresAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-4E

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-4C

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4A
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A

+ Details

Name:	us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-4B

+ Details

Name:	us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

+ Details

Name:	us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration