FMC CORP, 10-K filed on 2/28/2025
Annual Report
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Cover Page - USD ($)
 12 Months Ended
Dec. 31, 2024
Jun. 30, 2024
Cover [Abstract]    
Document Type 10-K  
Document Annual Report true  
Document Period End Date Dec. 31, 2024  
Current Fiscal Year End Date --12-31  
Document Transition Report false  
Entity File Number 1-2376  
Entity Registrant Name FMC CORPORATION  
Entity Incorporation, State or Country Code DE  
Entity Tax Identification Number 94-0479804  
Entity Address, Address Line One 2929 Walnut Street  
Entity Address, City or Town Philadelphia  
Entity Address, State or Province PA  
Entity Address, Postal Zip Code 19104  
City Area Code 215  
Local Phone Number 299-6000  
Title of 12(b) Security Common Stock, par value $0.10 per share  
Trading Symbol FMC  
Security Exchange Name NYSE  
Entity Well-known Seasoned Issuer Yes  
Entity Voluntary Filers No  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
ICFR Auditor Attestation Flag true  
Document Financial Statement Error Correction [Flag] false  
Entity Shell Company false  
Entity Public Float   $ 7,145,820,070
Entity Common Stock, Shares Outstanding 124,840,902  
Documents Incorporated by Reference
DOCUMENT FORM 10-K REFERENCE
Portions of Proxy Statement for 2025 Annual Meeting of Stockholders Part III
  
Entity Central Index Key 0000037785  
Document Fiscal Year Focus 2024  
Document Fiscal Period Focus FY  
Amendment Flag false  
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Audit Information
 12 Months Ended
Dec. 31, 2024
Audit Information [Abstract]  
Auditor name KPMG LLP
Auditor location Philadelphia, PA
Auditor firm ID 185
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CONSOLIDATED STATEMENTS OF INCOME (LOSS) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Income Statement [Abstract]      
Revenue $ 4,246.1 $ 4,486.8 $ 5,802.3
Costs and expenses      
Costs of sales and services 2,597.2 2,655.8 3,475.5
Gross margin 1,648.9 1,831.0 2,326.8
Selling, general and administrative expenses 644.6 734.3 775.2
Research and development expenses 278.0 328.8 314.2
Restructuring and other charges (income) 219.8 212.3 93.1
Total costs and expenses 3,739.6 3,931.2 4,658.0
Income (loss) from continuing operations before equity in (earnings) loss of affiliates, non-operating pension and postretirement charges (income), interest expense, net and income taxes 506.5 555.6 1,144.3
Non-operating pension and postretirement charges (income) 18.2 18.2 8.6
Interest expense, net 235.8 237.2 151.8
Income (loss) from continuing operations before income taxes 252.5 300.2 983.9
Provision (benefit) for income taxes (150.9) (1,119.3) 145.2
Income (loss) from continuing operations 403.4 1,419.5 838.7
Discontinued operations, net of income taxes (61.8) (98.5) (97.2)
Net income (loss) 341.6 1,321.0 741.5
Less: Net income (loss) attributable to noncontrolling interests 0.5 (0.5) 5.0
Net income (loss) attributable to FMC stockholders 341.1 1,321.5 736.5
Amounts attributable to FMC stockholders:      
Continuing operations, net of income taxes 402.9 1,420.0 833.7
Discontinued operations, net of income taxes $ (61.8) $ (98.5) $ (97.2)
Basic earnings (loss) per common share attributable to FMC stockholders:      
Continuing operations (in dollars per share) $ 3.22 $ 11.34 $ 6.60
Discontinued operations (in dollars per share) (0.49) (0.79) (0.77)
Net income (loss) attributable to FMC stockholders (in dollars per share) 2.73 10.55 5.83
Diluted earnings (loss) per common share attributable to FMC stockholders:      
Continuing operations (in dollars per share) 3.21 11.31 6.58
Discontinued operations (in dollars per share) (0.49) (0.78) (0.77)
Net income (loss) attributable to FMC stockholders (in dollars per share) $ 2.72 $ 10.53 $ 5.81
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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Statement of Comprehensive Income [Abstract]      
Net income (loss) $ 341.6 $ 1,321.0 $ 741.5
Foreign currency adjustments:      
Foreign currency translation gain (loss) arising during the period (53.6) 29.7 (103.1)
Reclassification of foreign currency translations losses 0.0 0.0 4.2
Total foreign currency adjustments [1] (53.6) 29.7 (98.9)
Derivative instruments:      
Unrealized hedging gains (losses) and other, net of tax expense (benefit) of $7.8 in 2024, $(29.1) in 2023 and $(17.2) in 2022 33.2 (72.4) (65.4)
Reclassification of deferred hedging (gains) losses and other, included in net income (loss), net of tax (expense) benefit of $(0.6) in 2024, $31.7 in 2023 and $19.1 in 2022 (3) [2] (0.5) 73.9 35.9
Total derivative instrument impact on comprehensive income, net of tax 32.7 1.5 (29.5)
Pension and other postretirement benefits:      
Unrealized actuarial gains (losses) and prior service (costs) credits, net of tax expense (benefit) of [$—] in 2024, $2.9 in 2023 and $(4.3) in 2022 [3] 4.9 11.4 (15.7)
Reclassification of net actuarial and other (gain) loss, amortization of prior service costs and settlement charges, included in net income, net of tax (expense) benefit of [$—] in 2024, $2.9 in 2023 and $2.4 in 2022 [2] 10.9 11.0 9.1
Total pension and other postretirement benefits, net of tax expense (benefit) of $4.0 in 2024, $5.8 in 2023 and $(1.9) in 2022 15.8 22.4 (6.6)
Other comprehensive income (loss), net of tax (5.1) 53.6 (135.0)
Comprehensive income (loss) 336.5 1,374.6 606.5
Less: Comprehensive income (loss) attributable to the noncontrolling interest (0.5) 0.0 4.1
Comprehensive income (loss) attributable to FMC stockholders $ 337.0 $ 1,374.6 $ 602.4
[1] Income taxes are not provided for foreign currency translation because the related investments are essentially permanent in duration.
[2] For more detail on the components of these reclassifications and the affected line item on the consolidated statements of income (loss), see Note 15 to the consolidated financial statements included within this Form 10-K for further details.
[3] At December 31 of each year, we remeasure our pension and postretirement plan obligations at which time we record any actuarial gains (losses) and prior service (costs) credits to other comprehensive income. See Note 13 to the consolidated financial statements included within this Form 10-K for further details.
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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Parenthetical) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Statement of Comprehensive Income [Abstract]      
Unrealized hedging gains (losses) and other, tax $ 7.8 $ (29.1) $ (17.2)
Reclassification of deferred hedging (gains) losses and other, included in net income, tax [1] (0.6) 31.7 19.1
Total derivative instruments, tax 7.2 2.6 1.9
Unrealized actuarial gains (losses) and prior service (costs) credits, tax [2] 1.2 2.9 (4.3)
Reclassification of net actuarial and other (gain) loss, amortization of prior service costs and settlement charges, included in net income, tax [1] 2.8 2.9 2.4
Total pension and other postretirement benefits, tax $ 4.0 $ 5.8 $ (1.9)
[1] For more detail on the components of these reclassifications and the affected line item on the consolidated statements of income (loss), see Note 15 to the consolidated financial statements included within this Form 10-K for further details.
[2] At December 31 of each year, we remeasure our pension and postretirement plan obligations at which time we record any actuarial gains (losses) and prior service (costs) credits to other comprehensive income. See Note 13 to the consolidated financial statements included within this Form 10-K for further details.
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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Current assets    
Cash and cash equivalents $ 357.3 $ 302.4
Trade receivables, net of allowance of $39.4 in 2024 and $29.1 in 2023 2,903.2 2,703.2
Inventories 1,201.6 1,724.6
Prepaid and other current assets 496.2 398.9
Total current assets 4,958.3 5,129.1
Noncurrent assets    
Investments 25.6 19.8
Property, plant and equipment, net 849.7 892.5
Goodwill 1,507.0 1,593.6
Other intangibles, net 2,360.7 2,465.1
Other assets including long-term receivables, net 428.2 489.5
Deferred income taxes 1,523.8 1,336.6
Total assets 11,653.3 11,926.2
Current liabilities    
Short-term debt and current portion of long-term debt 337.4 934.0
Accounts payable, trade and other 768.5 602.4
Advance payments from customers 453.8 482.1
Accrued and other liabilities 755.2 684.8
Accrued customer rebates 489.9 480.9
Guarantees of vendor financing 85.5 69.6
Accrued pension and other postretirement benefits, current 6.4 6.4
Income taxes 122.5 124.4
Total current liabilities 3,019.2 3,384.6
Noncurrent liabilities    
Long-term debt, less current portion 3,027.9 3,023.6
Accrued pension and other postretirement benefits, long-term 19.4 24.4
Environmental liabilities, continuing and discontinued 521.3 494.7
Deferred income taxes 86.0 158.1
Other long-term liabilities 470.7 407.4
Commitments and contingent liabilities (Note 19)
Equity    
Preferred stock, no par value, authorized 5,000,000 shares; no shares issued in 2024 or 2023 0.0 0.0
Common stock, $0.10 par value, authorized 260,000,000 shares in 2024 and 2023; 185,983,792 shares issued in 2024 and 2023 18.6 18.6
Capital in excess of par value of common stock 966.5 935.6
Retained earnings 6,637.5 6,587.1
Accumulated other comprehensive income (loss) (410.6) (406.5)
Treasury stock, common, at cost - 2024: 61,142,890 shares, 2023: 61,223,032 shares (2,724.5) (2,723.9)
Total FMC stockholders’ equity 4,487.5 4,410.9
Noncontrolling interests 21.3 22.5
Total equity 4,508.8 4,433.4
Total liabilities and equity $ 11,653.3 $ 11,926.2
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CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Current assets    
Allowance for trade receivable $ 39.4 $ 29.1
Equity    
Preferred stock, par value (in USD per share) $ 0 $ 0
Preferred stock, shares authorized (in shares) 5,000,000 5,000,000
Preferred stock, shares issued (in shares) 0 0
Common stock, par value (in dollars per share) $ 0.10 $ 0.10
Common stock, shares authorized (in shares) 260,000,000 260,000,000
Common stock, shares issued (in shares) 185,983,792 185,983,792
Treasury stock, shares, (in shares) 61,142,890 61,223,032
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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash provided (required) by operating activities of continuing operations:      
Net income (loss) $ 341.6 $ 1,321.0 $ 741.5
Discontinued operations, net of income taxes 61.8 98.5 97.2
Income (loss) from continuing operations 403.4 1,419.5 838.7
Adjustments from income (loss) from continuing operations to cash provided (required) by operating activities of continuing operations:      
Depreciation and amortization 176.3 184.3 169.4
Restructuring and other charges (income) 219.8 212.3 93.1
Deferred income taxes (340.3) (1,292.8) (52.7)
Pension and other postretirement benefits 20.0 20.9 12.5
Share-based compensation 23.8 25.9 24.2
Changes in operating assets and liabilities, net of effect of acquisitions and divestitures:      
Trade receivables, net (348.8) 192.4 (443.9)
Guarantees of vendor financing 15.9 (72.4) (64.2)
Advance payments from customers (26.5) (199.1) 52.1
Accrued customer rebates 30.7 16.0 69.6
Inventories 475.8 (72.8) (182.3)
Accounts payable, trade and other 171.7 (626.0) 165.3
Income taxes (5.4) (62.8) 19.1
Pension and other postretirement benefit contributions (5.5) (2.4) (4.5)
Environmental spending, continuing, net of recoveries (35.4) (34.5) (26.9)
Restructuring and other spending [1] (130.0) (30.3) (35.2)
Transaction and integration costs 0.0 0.0 (0.5)
Change in other operating assets and liabilities, net [2] 91.2 21.5 26.2
Cash provided (required) by operating activities of continuing operations 736.7 (300.3) 660.0
Cash provided (required) by operating activities of discontinued operations:      
Environmental spending, discontinued, net of recoveries (52.1) (54.5) (47.0)
Other discontinued spending (13.5) (31.6) (30.6)
Cash provided (required) by operating activities of discontinued operations (65.6) (86.1) (77.6)
Cash provided (required) by investing activities of continuing operations:      
Capital expenditures (67.9) (133.9) (142.3)
Acquisitions, including cost and equity method, net [3] (4.8) (16.5) (198.2)
Proceeds from the sale of the Global Specialty Solutions ("GSS") business 340.0 0.0 0.0
Proceeds from land disposition 0.0 5.8 50.5
Other investing activities [4] (3.7) (9.8) 23.6
Cash provided (required) by investing activities of continuing operations 263.6 (154.4) (266.4)
Cash provided (required) by financing activities of continuing operations:      
Increase (decrease) in short-term debt (576.7) 400.7 115.2
Proceeds from borrowing of long-term debt 0.0 1,498.6 0.0
Financing fees and interest rate swap settlements 0.0 (0.8) 16.3
Repayments of long-term debt 0.0 (1,200.0) (1.4)
Distributions to noncontrolling interests (0.7) (0.6) (0.5)
Dividends paid [5] (290.6) (290.5) (267.5)
Issuances of common stock, net 0.2 5.3 9.4
Repurchases of common stock under publicly announced program 0.0 (75.0) (100.0)
Other repurchases of common stock (2.3) (6.2) (8.9)
Cash provided (required) by financing activities of continuing operations (870.1) 331.5 (237.4)
Effect of exchange rate changes on cash and cash equivalents (9.7) (60.3) (23.4)
Increase (decrease) in cash and cash equivalents 54.9 (269.6) 55.2
Cash and cash equivalents, beginning of period 302.4 572.0 516.8
Cash and cash equivalents, end of period $ 357.3 $ 302.4 $ 572.0
[1] In addition to cash payments shown in our roll forward of restructuring reserves in Note 7 to our consolidated financial statements included within this Form 10-K, the restructuring and other spending amount above for the year ended December 31, 2024 includes spending of $14.0 million in divestiture transaction costs related to the GSS sale and $6.9 million related to the Furadan® asset retirement obligations. The years ended 2023 and 2022 include spending of $9.7 million and $10.0 million related to the Furadan® asset retirement obligations and $1.1 million and $3.2 million related to certain historical India indirect tax matters. For additional detail on restructuring and other charges activities, see Note 7 to our consolidated financial statements included within this Form 10-K.
[2] Changes in all periods represent timing of payments associated with all other operating assets and liabilities.
[3] The acquisitions, including cost and equity method, net amount in 2023 includes an $11.9 million payment related to the in-process research and development assets acquired. The 2022 activity includes the purchase price of Biophero of approximately $193 million.
[4] Included in the above is cash spending associated with contract manufacturers was $2.7 million, $2.9 million and $6.8 million for the years ended December 31, 2024, 2023 and 2022, respectively.
[5] See Note 15 to the consolidated financial statements included within this Form 10-K regarding our quarterly cash dividend.
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CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($)
$ in Millions
 12 Months Ended
Jul. 19, 2022
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Asset retirement obligation   $ 10.3 $ 6.4  
Tax payments, net of refunds   $ 6.9    
Research And Development, Asset Acquired Other Than Through Business Combination, Written Off, Statement Of Income Or Comprehensive Income, Extensible Enumeration, Not Disclosed Flag   in-process research and development assets acquired    
Payment for in-process research and development assets acquired     11.9  
Proceeds from land disposition   $ 0.0 5.8 $ 50.5
Other cash payments to contract manufacturers   2.7 2.9 6.8
Cash paid for interest, net of capitalized interest   232.2 229.6 144.0
Income taxes paid, net of refunds   156.3 180.1 122.0
Noncash additions to property, plant and equipment   26.1 18.6 40.4
Noncash additions to investments   16.4 0.0 19.3
BioPhero        
Purchase price $ 193.0      
Furadan Product Exit        
Asset retirement obligation   $ 14.0 9.7 10.0
India        
Tax payments, net of refunds     $ 1.1 $ 3.2
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CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($)
$ in Millions
Total
Common Stock, $0.10 Par Value
Capital In Excess of Par
Retained Earnings
Accumulated Other Comprehensive Income (Loss)
Treasury Stock
Non-controlling Interest
Beginning balance at Dec. 31, 2021 $ 3,143.7 $ 18.6 $ 880.4 $ 5,092.9 $ (325.5) $ (2,542.1) $ 19.4
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income (loss) 741.5     736.5     5.0
Stock compensation plans 33.5   28.8     4.7  
Shares for benefit plan trust 0.1         0.1  
Net pension and other benefit actuarial gains (losses) and prior service cost, net of income tax (6.6)       (6.6)    
Net hedging gains (losses) and other, net of income tax (29.5)       (29.5)    
Foreign currency translation adjustments (98.9) [1]       (98.0)   (0.9)
Dividends (273.5)     (273.5)      
Repurchases of common stock (108.9)         (108.9)  
Distributions to noncontrolling interests (0.5)           (0.5)
Ending balance at Dec. 31, 2022 3,400.9 18.6 909.2 5,555.9 (459.6) (2,646.2) 23.0
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income (loss) 1,321.0     1,321.5     (0.5)
Stock compensation plans 31.6   26.4     5.2  
Shares for benefit plan trust (1.7)         (1.7)  
Net pension and other benefit actuarial gains (losses) and prior service cost, net of income tax 22.4       22.4    
Net hedging gains (losses) and other, net of income tax 1.5       1.5    
Foreign currency translation adjustments 29.7 [1]       29.2   0.5
Dividends (290.3)     (290.3)      
Repurchases of common stock (81.2)         (81.2)  
Distributions to noncontrolling interests (0.5)           (0.5)
Ending balance at Dec. 31, 2023 4,433.4 18.6 935.6 6,587.1 (406.5) (2,723.9) 22.5
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income (loss) 341.6     341.1     0.5
Stock compensation plans 32.7   30.9     1.8  
Shares for benefit plan trust (0.1)         (0.1)  
Net pension and other benefit actuarial gains (losses) and prior service cost, net of income tax 15.8       15.8    
Net hedging gains (losses) and other, net of income tax 32.7       32.7    
Foreign currency translation adjustments (53.6) [1]       (52.6)   (1.0)
Dividends (290.7)     (290.7)      
Repurchases of common stock (2.3)         (2.3)  
Distributions to noncontrolling interests (0.7)           (0.7)
Ending balance at Dec. 31, 2024 $ 4,508.8 $ 18.6 $ 966.5 $ 6,637.5 $ (410.6) $ (2,724.5) $ 21.3
[1] Income taxes are not provided for foreign currency translation because the related investments are essentially permanent in duration.
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CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (Parenthetical) - $ / shares
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Statement of Stockholders' Equity [Abstract]      
Common stock, par value (in dollars per share) $ 0.10 $ 0.10 $ 0.10
Dividends (in dollar per share) $ 2.32 $ 2.32 $ 2.17
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Principal Accounting Policies and Related Financial Information
 12 Months Ended
Dec. 31, 2024
Accounting Policies [Abstract]  
Principal Accounting Policies and Related Financial Information Principal Accounting Policies and Related Financial Information
Nature of operations. We are a global agricultural sciences company dedicated to helping growers produce food, feed, fiber and fuel for an expanding world population while adapting to a changing environment. We operate in a single distinct business segment and develop, market and sell all three major classes of crop protection chemicals: insecticides, herbicides and fungicides, as well as biologicals, crop nutrition, and seed treatment products, which we group as plant health, and digital and precision agriculture. These products are used in agriculture to enhance crop yield and quality by controlling a broad spectrum of insects, weeds and disease, as well as in non-agricultural markets for pest control.
Basis of consolidation and basis of presentation. The accompanying consolidated financial statements of FMC Corporation and its subsidiaries were prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP"). Our consolidated financial statements include the accounts of FMC and all entities that we directly or indirectly control. All significant intercompany accounts and transactions are eliminated in consolidation.
Estimates and assumptions. In preparing the financial statements in conformity with U.S. GAAP we are required to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results are likely to differ from those estimates, but we do not believe such differences will materially affect our financial position, results of operations or cash flows.
Cash equivalents. We consider investments in all liquid debt instruments with original maturities of 3 months or less to be cash equivalents.
Trade receivables, net of allowance. Trade receivables consist of amounts owed to us from customer sales and are recorded when revenue is recognized. The allowance for trade receivables represents our best estimate of the probable losses associated with potential customer defaults. In developing our allowance for trade receivables, we use a two-stage process which includes calculating a general formula to develop an allowance to appropriately address the uncertainty surrounding collection risk of our entire portfolio and specific allowances for customers where the risk of collection has been reasonably identified either due to liquidity constraints or disputes over contractual terms and conditions. Our methodology considers current economic conditions as well as forward-looking expectations about expected credit loss.
Our method of calculating the general formula consists of estimating the recoverability of trade receivables based on historical experience, current collection trends, and external business factors such as economic factors, including regional bankruptcy rates, and political factors. Our analysis of trade receivable collection risk is performed quarterly, and the allowance is adjusted accordingly.
We also hold long-term receivables that represent long-term customer receivable balances related to past-due accounts which are not expected to be collected within the current year. Our policy for the review of the allowance for these receivables is consistent with the discussion in the preceding paragraph above on trade receivables. Therefore, on an ongoing basis, we continue to evaluate the credit quality of our long-term receivables utilizing aging of receivables, collection experience and write-offs, as well as existing economic conditions, to determine if an additional allowance is necessary.
The allowance for trade receivables was $39.4 million and $29.1 million as of December 31, 2024 and 2023, respectively. The allowance for long-term receivables was $21.3 million and $27.1 million at December 31, 2024 and 2023, respectively. The provision to the allowance for receivables charged against operations was $10.4 million, $6.3 million and $(0.5) million for the years ended December 31, 2024, 2023 and 2022, respectively. See Note 8 to the consolidated financial statements included within this Form 10-K for more information.
Investments. Investments in companies in which our ownership interest is 50 percent or less and in which we exercise significant influence over operating and financial policies are accounted for using the equity method. Under the equity method, original investments are recorded at cost and adjusted by our share of undistributed earnings and losses of these investments. Majority owned investments in which our control is restricted are also accounted for using the equity method. As of December 31, 2024 and 2023, we do not own any equity method investments. All other investments are carried at their fair values or at cost, as appropriate and are not material to our consolidated financial statements. FMC Ventures, which was established in 2020, is our venture capital arm targeting strategic investments in start-ups and early-stage companies that are developing and applying emerging technologies in the agricultural industry. The accounting guidance requires these nonmarketable equity securities to be recorded at cost and adjusted to fair value each reporting period. However, the guidance allows for a measurement alternative, which is to record the investment at cost, less impairment, if any, and subsequently adjust for observable price changes. Each reporting period, we review the portfolio for any observable price changes or potential indicators of impairment. At December 31, 2024, our investments made through FMC Ventures individually and in the aggregate are not significant to our financial results.
Inventories. Inventories are stated at the lower of cost or net realizable value. Inventory costs include those costs directly attributable to products before sale, including all manufacturing overhead but excluding distribution costs. All inventories are determined on a first-in, first-out ("FIFO") basis.
Property, plant and equipment. We record property, plant and equipment, including capitalized interest, at cost. We recognize acquired property, plant and equipment, from acquisitions at its estimated fair value. Depreciation is provided principally on the straight-line basis over the estimated useful lives of the assets (land improvements — 20 years, buildings and building equipment — 15 to 40 years, and machinery and equipment — 3 to 18 years). Gains and losses are reflected in income upon sale or retirement of assets. Expenditures that extend the useful lives of property, plant and equipment or increase productivity are capitalized. Ordinary repairs and maintenance are expensed as incurred through operating expense.
Capitalized interest. We capitalized interest costs of $9.6 million, $9.3 million, and $5.6 million in 2024, 2023, and 2022, respectively. These costs were primarily associated with the construction of certain long-lived assets and have been capitalized as part of the cost of those assets. We amortize capitalized interest over the assets’ estimated useful lives.
Impairments of long-lived assets. We review the recovery of the net book value of long-lived assets whenever events and circumstances indicate that the net book value of an asset may not be recoverable from the estimated undiscounted future cash flows expected to result from its use and eventual disposition. In cases where undiscounted expected future cash flows are less than the net book value, we recognize an impairment loss equal to an amount by which the net book value exceeds the fair value of the asset. Long-lived assets to be disposed of are reported at the lower of carrying amount or fair value less cost to sell.
Asset retirement obligations. We record asset retirement obligations ("AROs") at fair value at the time the liability is incurred if we can reasonably estimate the settlement date. The associated AROs are capitalized as part of the carrying amount of related long-lived assets. In future periods, the liability is accreted to its present value and the capitalized cost is depreciated over the useful life of the related asset. We also adjust the liability for changes resulting from the passage of time and/or revisions to the timing or the amount of the original estimate. Upon retirement of the long-lived asset, we either settle the obligation for its recorded amount or incur a gain or loss. 
The carrying amounts for the AROs for the years ended December 31, 2024 and 2023 are $10.3 million and $6.4 million, respectively. These amounts are included in "Accrued and other liabilities" and "Other long-term liabilities" on the consolidated balance sheet.
Restructuring and other charges. We continually perform strategic reviews and assess the return on our business. This sometimes results in a plan to restructure the operations of our business. We record an accrual for severance and other exit costs under the provisions of the relevant accounting guidance.
See Note 7 to the consolidated financial statements included within this Form 10-K for more information on Project Focus, the global restructuring program announced in December 2023.
Additionally, as part of these restructuring plans, write-downs of long-lived assets may occur. Two types of assets are impacted: assets to be disposed of by sale and assets to be abandoned. Assets to be disposed of by sale are measured at the lower of carrying amount or estimated net proceeds from the sale. Assets to be abandoned with no remaining future service potential are written down to amounts expected to be recovered. The useful life of assets to be abandoned that have a remaining future service potential are adjusted and depreciation is recorded over the adjusted useful life.
Capitalized software. We capitalize the costs of internal use software in accordance with accounting literature which generally requires the capitalization of certain costs incurred to develop or obtain internal use software. We assess the recoverability of capitalized software costs on an ongoing basis and record write-downs to fair value as necessary. We amortize capitalized software costs over expected useful lives ranging from 3 to 10 years. See Note 21 to the consolidated financial statements included within this Form 10-K for the net unamortized computer software balances.
Goodwill and intangible assets. Goodwill and other indefinite life intangible assets are not subject to amortization. Instead, they are subject to at least an annual assessment for impairment by applying a fair value-based test.
We test goodwill and indefinite life intangibles for impairment annually using the criteria prescribed by U.S. GAAP accounting guidance for goodwill and other intangible assets. Based upon our annual impairment assessments conducted in 2024, 2023 and 2022, we did not record any goodwill or intangible asset impairments. During each of these annual assessments, we performed a quantitative assessment using a discounted cash flow model.
Finite-lived intangible assets consist of primarily customer relationships as well as patents, brands, registration rights, industry licenses, and other intangibles and are generally being amortized over periods of approximately 3 to 20 years. See Note 4 to the consolidated financial statements included within this Form 10-K for additional information on goodwill and intangible assets.
Revenue recognition. We recognize revenue when (or as) we satisfy our performance obligation which is when the customer obtains control of the good or service. Rebates due to customers are accrued as a reduction of revenue in the same period that the related sales are recorded based on the contract terms. Refer to Note 3 to the consolidated financial statements included within this Form 10-K for further details.
We record amounts billed for shipping and handling fees as revenue. Costs incurred for shipping and handling are recorded as costs of sales and services. Amounts billed for sales and use taxes, value-added taxes, and certain excise and other specific transactional taxes imposed on revenue-producing transactions are presented on a net basis and excluded from revenue on the consolidated statements of income (loss). We record a liability until remitted to the respective taxing authority.
We periodically enter into prepayment arrangements with customers and receive advance payments for product to be delivered in future periods. These advance payments are recorded as deferred revenue and classified as "Advance payments from customers" on the consolidated balance sheet. Revenue associated with advance payments is recognized as shipments are made and transfer of control to the customer takes place.
Research and development. Research and development costs are expensed as incurred. In-process research and development acquired as part of asset acquisitions, which include license and development agreements, are expensed as incurred and included as a component of "Restructuring and other charges (income)" on the consolidated statements of income (loss).
Income and other taxes. We provide current income taxes on income reported for financial statement purposes adjusted for transactions that do not enter into the computation of income taxes payable. We recognize deferred tax liabilities and assets for the expected future tax consequences of temporary differences between the carrying amounts and the tax basis of assets and liabilities. We have not provided income taxes for other outside basis differences inherent in our investments in subsidiaries because the investments and related unremitted earnings are essentially permanent in duration or we have concluded that no additional tax liability will arise upon disposal or remittance.
Foreign currency. We translate the assets and liabilities of our foreign operations at exchange rates in effect at the balance sheet date. For foreign operations where the functional currency is not the U.S. dollar we record translation gains and losses as a component of accumulated other comprehensive income (loss) in equity. The foreign operations' income statements are translated at the monthly exchange rates for the period. 
We record remeasurement gains and losses on monetary assets and liabilities, such as accounts receivables and payables, which are not in the functional currency of the operation. These remeasurement gains and losses are recorded in income as they occur. We generally enter into foreign currency contracts to mitigate the financial risk associated with these transactions. See "Derivative financial instruments" within this Note and Note 18 to the consolidated financial statements included within this Form 10-K.
Derivative financial instruments. We mitigate certain financial exposures, including currency risk, interest rate risk and to a lesser extent commodity price exposures, through a controlled program of risk management that includes the use of derivative financial instruments when applicable. We enter into foreign exchange contracts, including forward and purchased option contracts, to reduce the effects of fluctuating foreign currency exchange rates.
We recognize all derivatives on the balance sheet at fair value. On the date the derivative instrument is entered into, we generally designate the derivative as either a hedge of the variability of cash flows to be received or paid related to a forecasted transaction (cash flow hedge) or a hedge of the fair value of a recognized asset or liability or of an unrecognized firm commitment (fair value hedge). We record in accumulated other comprehensive income (loss) changes in the fair value of derivatives that are designated as, and meet all the required criteria for, a cash flow hedge. We then reclassify these amounts into earnings as the underlying hedged item affects earnings. We record immediately in earnings changes in the fair value of derivatives that are not designated as cash flow hedges.
We formally document all relationships between hedging instruments and hedged items, as well as the risk management objective and strategy for undertaking various hedge transactions. This process includes relating derivatives that are designated as fair value or cash flow hedges to specific assets and liabilities on the balance sheet or to specific firm commitments or forecasted transactions. We also formally assess, both at the inception of the hedge and throughout its term, whether each derivative is highly effective in offsetting changes in fair value or cash flows of the hedged item. If we determine that a derivative is not highly effective as a hedge, or if a derivative ceases to be a highly effective hedge, we discontinue hedge accounting with respect to that derivative prospectively.
Treasury stock. We record shares of common stock repurchased at cost as treasury stock, resulting in a reduction of stockholders’ equity on the consolidated balance sheets. When the treasury shares are contributed under our employee benefit plans or issued for option exercises, we use a FIFO method for determining cost. The difference between the cost of the shares and the market price at the time of contribution to an employee benefit plan is added to or deducted from the related capital in excess of par value of common stock.
Segment information. We operate as a single business segment providing innovative solutions to growers around the world. The business is supported by global corporate staff functions. The determination of a single segment is consistent with the financial information regularly reviewed by the chief executive officer, who serves as the Chief Operating Decision Maker (the “CODM”), for purposes of evaluating performance, allocating resources, setting incentive compensation targets and both planning and forecasting future periods. For further details on the information reviewed by the CODM in assessing performance and allocating resources, refer to Note 20 to the consolidated financial statements within this Form 10-K.
As supplemental information, the Company discloses revenue at the geographical and product category level. Refer to Note 3 to the consolidated financial statements included within this Form 10-K for this revenue detail.
Geographic long-lived assets include goodwill and other intangibles, net, property, plant and equipment, net and other non-current assets. Refer to Note 20 to the consolidated financial statements included within this Form 10-K for further details.
Stock compensation plans. We recognize compensation expense in the financial statements for all share options and other equity-based arrangements. Share-based compensation cost is measured at the date of grant, based on the fair value of the award, and is recognized over the employee’s requisite service period. See Note 14 to the consolidated financial statements included within this Form 10-K for further discussion on our share-based compensation.
Environmental obligations. We provide for environmental-related obligations when they are probable and amounts can be reasonably estimated. Where the available information is sufficient to estimate the amount of liability, that estimate has been used. Where the information is only sufficient to establish a range of probable liability and no point within the range is more likely than any other, the lower end of the range has been used.
Estimated obligations to remediate sites that involve oversight by the United States Environmental Protection Agency ("EPA"), or similar government agencies, are generally accrued no later than when a Record of Decision ("ROD"), or equivalent, is issued, or upon completion of a Remedial Investigation/Feasibility Study ("RI/FS"), or equivalent, that is submitted by us and the appropriate government agency or agencies. Estimates are reviewed quarterly and, if necessary, adjusted as additional information becomes available. The estimates can change substantially as additional information becomes available regarding the nature or extent of site contamination, required remediation methods, and other actions by or against governmental agencies or private parties.
Our environmental liabilities for continuing and discontinued operations are principally for costs associated with the remediation and/or study of sites at which we are alleged to have released hazardous substances into the environment. Such costs principally include, among other items, RI/FS, site remediation, costs of operation and maintenance of the remediation plan, management costs, fees to outside law firms and consultants for work related to the environmental effort, and future monitoring costs. Estimated site liabilities are determined based upon existing remediation laws and technologies, specific site consultants’ engineering studies or by extrapolating experience with environmental issues at comparable sites.
Included in our environmental liabilities are costs for the operation, maintenance and monitoring ("OM&M") of site remediation plans. Such reserves are based on our best estimates for these OM&M plans. Over time we may incur OM&M costs in excess of these reserves. However, we are unable to reasonably estimate an amount in excess of our recorded reserves because we cannot reasonably estimate the period for which such OM&M plans will need to be in place or the future annual cost of such remediation, as conditions at these environmental sites change over time. Such additional OM&M costs could be significant in total but would be incurred over an extended period of years.
Included in the environmental reserve balance, other assets balance and disclosure of reasonably possible loss contingencies are amounts from third-party insurance policies which we believe are probable of recovery.
Provisions for environmental costs are reflected in income, net of probable and estimable recoveries from named Potentially Responsible Parties ("PRPs") or other third parties. All of our environmental provisions incorporate inflation and are not discounted to their present value, other than our reserve for our Pocatello Tribal Matter. We remeasure this discounted liability balance according to current interest rates. See Note 10 to the consolidated financial statements included within this Form 10-K for further information.
In calculating and evaluating the adequacy of our environmental reserves, we have taken into account the joint and several liability imposed by Comprehensive Environmental Remediation, Compensation and Liability Act ("CERCLA") and the analogous state laws on all PRPs and have considered the identity and financial condition of the other PRPs at each site to the extent possible. We have also considered the identity and financial condition of other third parties from whom recovery is anticipated, as well as the status of our claims against such parties. Although we are unable to forecast the ultimate contributions of PRPs and other third parties with absolute certainty, the degree of uncertainty with respect to each party is taken into account when determining the environmental reserve on a site-by-site basis. Our liability includes our best estimate of the costs expected to be paid before the consideration of any potential recoveries from third parties. We believe that any recorded recoveries related to PRPs are realizable in all material respects. Recoveries are recorded as either an offset in "Environmental liabilities, continuing and discontinued" or as "Other assets including long-term receivables, net" in our consolidated balance sheets in accordance with U.S. accounting literature.
Pension and other postretirement benefits. We provide qualified and nonqualified defined benefit and defined contribution pension plans, as well as postretirement health care and life insurance benefit plans to our employees and retirees. The costs (or benefits) and obligations related to these benefits reflect key assumptions related to general economic conditions, including interest (discount) rates, healthcare cost trend rates, expected rates of return on plan assets and the rates of compensation increase for employees. The costs (or benefits) and obligations for these benefit programs are also affected by other assumptions, such as average retirement age, mortality, employee turnover, and plan participation. To the extent our plans’ actual experience, as influenced by changing economic and financial market conditions or by changes to our own plans’ demographics, differs from these assumptions, the costs and obligations for providing these benefits, as well as the plans’ funding requirements, could increase or decrease. When actual results differ from our assumptions, the difference is typically recognized over future periods. In addition, the unrealized gains and losses related to our pension and postretirement benefit obligations may also affect periodic benefit costs (or benefits) in future periods. See Note 13 to the consolidated financial statements included within this Form 10-K for additional information relating to pension and other postretirement benefits.
GSS Divestiture. On July 11, 2024, we signed a definitive agreement to sell our GSS business to Environmental Science US, LLC d/b/a Envu ("Envu"). On November 1, 2024, we received proceeds, net of the preliminary working capital adjustment, of approximately $340.0 million in connection with the completion of the sale. At the time of the sale, $52 million in trade receivables, $20 million in inventories and accrued rebates of $11 million related to the GSS business were transferred to Envu. An allocated portion of goodwill totaling $71 million was also written off in connection with the sale. Certain assets, which are not material, will be transferred to Envu at a later date due to various local timing constraints; however, we received consideration for these assets at closing of the sale and no additional consideration will be received at the date of transfer. We recorded a gain, net of divestiture transaction costs, within "Restructuring and other charges (income)" on the consolidated statements of income (loss) of $174.4 million during the year ended December 31, 2024. The GSS business did not qualify for discontinued operations during 2024 and, therefore, its results prior to the sale closing are included in income (loss) from continuing operations for all periods presented.
v3.25.0.1
Recently Issued and Adopted Accounting Pronouncements and Regulatory Items
 12 Months Ended
Dec. 31, 2024
Accounting Policies [Abstract]  
Recently Issued and Adopted Accounting Pronouncements and Regulatory Items Recently Issued and Adopted Accounting Pronouncements and Regulatory Items
New accounting guidance and regulatory items
On November 4, 2024, the FASB issued ASU 2024-03, Income Statement - Reporting Comprehensive Income (Topic 220): Expense Disaggregation Disclosures, to require disaggregation of certain expense captions into specified categories in disclosures within the notes of the financial statements. The standard is effective for FMC beginning with the Form 10-K for the year ended December 31, 2027 and early adoption is permitted. The guidance is required to be applied prospectively and amendments in the ASU may be applied prospectively or retrospectively. We are currently evaluating the impacts this standard will have on our disclosures.
On March 6, 2024, the SEC adopted the final rule under SEC Release No. 33-11275, The Enhancement and Standardization of Climate-Related Disclosures for Investors, which will require registrants to provide certain climate-related information in their registration statements and periodic reports. The required disclosures will include, but are not limited to, specific disclosures about climate-related risks and their actual or likely material impacts on the registrant’s business, strategy, and outlook; the governance of climate-related risks and relevant risk management processes; Scope 1 and 2 greenhouse gas (GHG) emissions, if material or included in announced emission targets; certain climate-related financial statement metrics and related disclosures in a note to the audited financial statements; and information about climate-related targets and goals. The rules are effective on a rolling basis for various fiscal years, beginning for the Company with annual reports for the year ending December 31, 2025. However, in response to various legal challenges, the SEC voluntarily stayed the rules on April 4, 2024, which may impact the ultimate effective date of the rules. We will continue to monitor any developments on these rules and expected timing for compliance.
On December 14, 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Changes to the Disclosure Requirements for Income Taxes, to improve the transparency and decision usefulness of income tax disclosures. The standard requires companies to disclose a tabular effective rate reconciliation with certain reconciling items broken out by nature and/or jurisdiction as well as more robust disclosures of income taxes paid, specifically broken out between federal, state and foreign. The standard can be applied prospectively or retrospectively and early adoption is permitted. The ASU is effective for FMC beginning with the Form 10-K for the year ended December 31, 2025. We are currently evaluating the impacts this standard will have on our income tax disclosures.
Recently adopted accounting guidance
On November 27, 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, to improve the disclosures about a public entity's reportable segments and expenses. The standard requires disclosure of the chief operating decision maker's (the "CODM") title and position as well as the measures of segment profit and loss reviewed by the CODM. Companies with multiple reportable segments as well as companies with a single reportable segment are required to adopt the standard and it should be applied retrospectively to all periods presented. The ASU is effective for FMC beginning with the Form 10-K for the year ended December 31, 2024 and, as such, we have adopted the new disclosure requirements in this Form 10-K. See Note 20 to the consolidated financial statements for the required disclosures.
On December 20, 2021, the Organization for Economic Co-operation and Development (the "OECD") released Pillar Two Model Rules defining the global minimum tax, which calls for the taxation of large corporations at a minimum rate of 15%. The OECD continues to release additional guidance on the two-pillar framework. Pillar Two legislation has been enacted in certain jurisdictions in which the Company operates, which became effective for the Company’s financial year beginning January 1, 2024. The 2024 impacts of Pillar Two legislation were not material. We are continuing to evaluate the potential impact on future periods of the Pillar Two Framework, pending legislative adoption by individual countries.
In September 2022, the FASB issued ASU No. 2022-04, Liabilities—Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations. In accordance with the new disclosure requirements, which we have adopted beginning January 1, 2023, we have included information regarding our key program terms and the amount outstanding that remains unpaid at period end as further described below. The roll forward disclosure requirement became effective beginning with this Form 10-K and the required disclosure is included below.
We work with suppliers to optimize payment terms and conditions on accounts payable to improve working capital and cash flows. We offer to a select group of suppliers a voluntary Supply Chain Finance (“SCF”) program with a global financial institution. The suppliers, at their sole discretion, may sell their receivables to the financial institution based on terms negotiated between them. Our obligations to our suppliers are not impacted by our suppliers’ decisions to sell under these arrangements. Obligations outstanding under this program are recorded within "Accounts payable, trade and other" in our condensed consolidated balance sheets and the associated payments are included in operating activities within our condensed consolidated statements of cash flows.
Our payment terms with our suppliers are consistent, regardless of whether a supplier participates in the program. We deem these terms to be commercially reasonable and consistent with the range of industry standards within their respective regions. Under the terms of the agreement, we do not pledge assets as security or make any other forms of guarantees.
FMC's outstanding obligations confirmed as valid under the SCF was $227.4 million and $71.9 million as of December 31, 2024 and 2023, respectively.
December 31,
(in Millions)20242023
Confirmed obligations outstanding at the beginning of the year$71.9 $307.5 
Invoices confirmed during the year406.4 490.6 
Confirmed invoices paid during the year(250.9)(726.2)
Confirmed obligations at the end of the year$227.4 $71.9 
v3.25.0.1
Revenue Recognition
 12 Months Ended
Dec. 31, 2024
Revenue from Contract with Customer [Abstract]  
Revenue Recognition Revenue Recognition
Disaggregation of revenue
We disaggregate revenue from contracts with customers by geographical areas and major product categories. We have three major agricultural product categories: insecticides, herbicides, and fungicides. Plant health, which includes biological products, is also included in the table below.
The following table provides information about disaggregated revenue by major geographical region:
Year Ended December 31,
(in Millions)202420232022
North America (1)
$1,173.4 $1,204.8 $1,435.8 
Latin America (1)
1,389.5 1,401.1 2,088.2 
Europe, Middle East & Africa834.8 899.2 1,039.7 
Asia848.4 981.7 1,238.6 
Total Revenue$4,246.1 $4,486.8 $5,802.3 
____________________
(1)Countries with sales in excess of 10 percent of consolidated revenue consisted of the U.S. and Brazil. Sales for the years ended December 31, 2024, 2023, and 2022 for the U.S. totaled $1,003.1 million, $978.1 million and $1,288.8 million, respectively, and for Brazil totaled $1,081.1 million, $1,017.3 million and $1,621.1 million, respectively.
The following table provides information about disaggregated revenue by major product category:
Year Ended December 31,
(in Millions)202420232022
Insecticides$2,377.9 $2,639.4 $3,346.6 
Herbicides1,280.5 1,278.4 1,651.6 
Fungicides352.5 317.6 383.9 
Plant Health200.5 186.9 234.1 
Other34.7 64.5 186.1 
Total Revenue$4,246.1 $4,486.8 $5,802.3 
We earn revenue from the sale of a wide range of products to a diversified base of customers around the world. We develop, market and sell all three major classes of crop protection chemicals (insecticides, herbicides and fungicides) as well as biologicals, crop nutrition, and seed treatment products, which we group as plant health. These products are used in agriculture to enhance crop yield and quality by controlling a broad spectrum of insects, weeds and disease, as well as in non-agricultural markets for pest control. The majority of our product lines consist of insecticides and herbicides, with a smaller portfolio of fungicides mainly used in high value crop segments. We are investing in plant health, which includes our growing biological products. Our insecticides are used to control a wide spectrum of pests, while our herbicide portfolio primarily targets a large variety of difficult-to-control weeds. Products in the other category include various agricultural products such as smaller classes of pesticides, growth promoters, and other miscellaneous revenue sources.
Sale of Goods
Revenue from product sales is recognized when (or as) we satisfy a performance obligation by transferring the promised goods to a customer, that is, when control of the good transfers to the customer. The customer is then invoiced at the agreed-upon price with payment terms generally ranging from 30 to 90 days, with some regions providing terms longer than 90 days. We do not typically give payment terms that exceed 360 days; however, in certain geographical regions such as Latin America, these terms may be given in limited circumstances. Additionally, a timing difference of over one year can exist between when products are delivered to the customer and when payment is received from the customer in these regions; however, the effect of these sales is not material to the financial statements as a whole. Furthermore, we have assessed the circumstances and arrangements in these regions and determined that the contracts with these customers do not contain a significant financing component.
In determining when the control of goods is transferred, we typically assess, among other things, the transfer of risk and title and the shipping terms of the contract. The transfer of title and risk typically occurs either upon shipment to the customer or upon receipt by the customer. As such, we typically recognize revenue when goods are shipped based on the relevant Incoterm for the product order, or in some regions, when delivery to the customer’s requested destination has occurred. When we perform shipping and handling activities after the transfer of control to the customer (e.g., when control transfers prior to delivery), they are considered as fulfillment activities, and accordingly, the costs are accrued for when the related revenue is recognized. For FOB shipping point terms, revenue is recognized at the time of shipment since the customer gains control at this point in time.
Sales Incentives and Other Variable Considerations
As a part of our customary business practice, we offer a number of sales incentives to our customers including volume discounts, retailer incentives, and prepayment options. The variable considerations given can differ by products, support levels and other eligibility criteria. For all such contracts that include any variable consideration, we estimate the amount of variable consideration that should be included in the transaction price utilizing either the expected value method or the most likely amount method depending on the nature of the variable consideration. Variable consideration is included in the transaction price if, in our judgment, it is probable that a significant future reversal of cumulative revenue under the contract will not occur. Although determining the transaction price for these considerations requires significant judgment, we have significant historical experience with incentives provided to customers and estimate the expected consideration considering historical patterns of incentive payouts. These estimates are reassessed each reporting period as required.
In addition to the variable considerations described above, in certain instances, we may require our customers to meet certain volume thresholds within their contract term. We estimate what amount of variable consideration should be included in the transaction price at contract inception and continually reassess this estimation each reporting period to determine situations when the minimum volume thresholds will not be met.
Right of Return
We extend an assurance warranty offering customers a right of refund or exchange in case delivered product does not conform to specifications. Additionally, in certain regions and arrangements, we may offer a right of return for a specified period. Both instances are accounted for as a right of return and transaction price is adjusted for an estimate of expected returns. Replacement products are accounted for under the warranty guidance if the customer exchanges one product for another of the same kind, quality, and price. We have significant experience with historical return patterns and use this experience to include returns in the estimate of transaction price.
Contract Asset and Contract Liability Balances
We satisfy our obligations by transferring goods and services in exchange for consideration from customers. The timing of performance sometimes differs from the timing the associated consideration is received from the customer, thus resulting in the recognition of a contract asset or contract liability. We recognize a contract liability if the customer's payment of consideration is received prior to completion of our related performance obligation.
The following table presents the opening and closing balances of our receivables, net of allowances and contract liabilities from contracts with customers:
(in Millions)Balance as of December 31, 2024Balance as of December 31, 2023Increase (Decrease)
Receivables from contracts with customers, net of allowances$2,942.9 $2,722.7 $220.2 
Contract liabilities: Advance payments from customers453.8 482.1 (28.3)
The amount of revenue recognized in the year ended December 31, 2024 that was included in the opening contract liability balance was $482.1 million.
The balance of receivables from contracts with customers listed in the table above include both current trade receivables and long-term receivables, net of allowance for doubtful accounts. The change in allowance for doubtful accounts for both current trade receivables and long-term receivables for any period is representative of the impairment or the write-off of receivables. Refer to Note 8 to the consolidated financial statements included within this Form 10-K for further information.
We periodically enter into prepayment arrangements with customers and receive advance payments for product to be delivered in future periods. Prepayment terms are extended to customers/distributors in order to capitalize on surplus cash with growers. Growers receive bulk payments for their produce, which they leverage to buy our products from distributors through prepayment options. This in turn creates opportunity for distributors to make large prepayments to us for securing the future supply of products to be sold to growers. Prepayments are typically received in the fourth quarter of the fiscal year, and are for the following marketing year indicating that the time difference between prepayment and performance of corresponding performance obligations does not exceed one year.
We recognize these prepayments as a liability under "Advance payments from customers" on the consolidated balance sheets when they are received. Revenue associated with advance payments is recognized as shipments are made and transfer of control to the customer takes place.
Performance Obligations
At contract inception, we assess the goods and services promised in our contracts with customers and identify a performance obligation for each promise to transfer a good or service (or bundle of goods or services) that is distinct. To identify the performance obligations, we consider all the goods or services promised in the contract, whether explicitly stated or implied based on customary business practices. Based on our evaluation, we have determined that our current contracts do not contain more than one performance obligation. Revenue is recognized when (or as) the performance obligation is satisfied, which is when the customer obtains control of the good or service.
Periodically, we may enter into contracts with customers which require them to submit a forecast of non-binding purchase obligations to us. These forecasts are typically provided by the customer to us in good faith, and there are no penalties or obligations if the forecasts are not met. Accordingly, we have determined that these are optional purchases and do not represent material rights and are not considered as unsatisfied (or partially satisfied) performance obligations.
In separate and less common circumstances, we may have contracts with customers which have binding purchase requirements for just one quarter of their annual forecasts. Additionally, as noted in the Contract Liabilities section above, we periodically enter into agricultural prepayment arrangements with customers, and receive advance payments for product to be delivered in future periods within one year.
Other Arrangements
Data Licensing
We sometimes grant to third parties a license and right to rely upon pesticide regulatory data filed with government agencies. Such licenses allow a licensee to cite and rely upon our data in connection with the licensee’s application for pesticide registrations as required by law; these licenses can be granted through contract or through a mandatory statutory license, depending on circumstances. In the most common occurrence, when a license is embedded in a contract for supply of pesticide active ingredient from us to the licensee, the license grant is not considered as distinct from other promised goods or services. Accordingly, all promises are treated as a single performance obligation and revenue is recognized at a point when the control of the pesticide products is transferred to the licensee-customer. In the less frequent occurrence, when the license and right to use data is granted without a supply contract, we account for the revenue attributable to the data license as a performance obligation satisfied at a single point in time and recognize revenue on the effective date of such contract. Finally, in those circumstance of mandatory data licensing by statute, such as under U.S. pesticide law, we recognize the data compensation upon the effective date of the data compensation settlement agreement. Payment terms for these arrangements may vary by contract.
Service Arrangements
In limited cases, we engage in providing certain tolling services, such as filling and packing services using raw and packing materials supplied by the customer. Depending on the nature of the tolling services, we determine the appropriate method of satisfaction of the performance obligation, which may be the input or output method. Compared to other goods and services provided by us, service arrangements do not represent a significant portion of sales each year. Payment terms for service arrangements may vary by contract; however, payment is typically due within 30 days of the invoice date.
Practical Expedients and Exemptions
We have elected the following practical expedients under ASC 606:
a.Costs of obtaining a contract: FMC incurs certain costs such as sales commissions which are incremental to obtaining the contract. We have taken the practical expedient of expensing such costs to obtain a contract, as and when they are incurred, as their expected amortization period is one year or less.
b.Significant financing component: We elected not to adjust the promised amount of consideration for the effects of a significant financing component if FMC expects, at contract inception, that the period between the transfer of a promised good or service to a customer and when the customer pays for that good or service will be one year or less.
c.Remaining performance obligations: We elected not to disclose the aggregate amount of the transaction price allocated to remaining performance obligations for its contracts that are one year or less, as the revenue is expected to be recognized within one year. Additionally, we have elected not to disclose information about variable considerations for remaining, wholly unsatisfied performance obligations for which the criteria in paragraph 606-10-32-40 have been met.
d.Shipping and handling costs: We elected to account for shipping and handling activities that occur after the customer has obtained control of a good as fulfillment activities (i.e., an expense) rather than as a promised service.
e.Measurement of transaction price: We have elected to exclude from the measurement of transaction price all taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue-producing transaction and collected by us from a customer.
v3.25.0.1
Goodwill and Intangible Assets
 12 Months Ended
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets Goodwill and Intangible Assets
The changes in the carrying amount of goodwill for the years ended December 31, 2024 and 2023 are presented in the table below:
(in Millions)Total
Balance, December 31, 2022$1,589.3 
Foreign currency and other adjustments4.3 
Balance, December 31, 2023$1,593.6 
GSS divestiture allocation (See Note 1)
(71.1)
Foreign currency and other adjustments(15.5)
Balance, December 31, 2024$1,507.0 

Our fiscal year 2024 annual goodwill and indefinite life impairment test was performed during the third quarter ended September 30, 2024. We determined no goodwill impairment existed and that the fair value was in excess of the carrying value. Additionally, no indefinite-lived asset impairment existed and the estimated fair values also exceeded the carrying value for each of our indefinite-lived intangible assets.
Subsequent to December 31, 2024, the Company has experienced a significant decline in our stock price that, if sustained, could trigger an impairment test of our goodwill. We are evaluating whether this decline represents a triggering event and if an impairment test is required in connection with the preparation of the consolidated financial statements for the first quarter of 2025.
Our intangible assets, other than goodwill, consist of the following:
December 31, 2024December 31, 2023
(in Millions)Weighted avg. useful life remaining at December 31, 2024GrossAccumulated AmortizationNetGrossAccumulated AmortizationNet
Intangible assets subject to amortization (finite life)
Customer relationships12 years$1,117.5 $(458.9)$658.6 $1,136.7 $(414.2)$722.5 
Patents8 years1.7 (1.7)— 1.8 (1.6)0.2 
Brands (1)
8 years48.3 (19.2)29.1 49.3 (12.9)36.4 
Purchased and licensed technologies12 years125.5 (48.2)77.3 131.1 (46.2)84.9 
Other intangibles7 years2.3 (1.8)0.5 2.3 (1.8)0.5 
$1,295.3 $(529.8)$765.5 $1,321.2 $(476.7)$844.5 
Intangible assets not subject to amortization (indefinite life)
Crop Protection Brands (2)
$1,259.0 $1,259.0 $1,259.0 $1,259.0 
Brands (1)
325.6 325.6 350.3 350.3 
In-process research and development 10.6 10.6 11.3 11.3 
$1,595.2 $1,595.2 $1,620.6 $1,620.6 
Total intangible assets$2,890.5 $(529.8)$2,360.7 $2,941.8 $(476.7)$2,465.1 
____________________ 
(1)    Represents trademarks, trade names and know-how.
(2)    Represents proprietary brand portfolios, consisting of trademarks, trade names and know-how, of our crop protection brands.
Year Ended December 31,
(in Millions)202420232022
Amortization expense$65.5 $64.3 $60.6 

The estimated pre-tax amortization expense for each of the five years ending December 31, 2025 to 2029 is $70.3 million, $71.5 million, $71.2 million, $71.7 million, and $70.9 million, respectively.
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Inventories
 12 Months Ended
Dec. 31, 2024
Inventory Disclosure [Abstract]  
Inventories Inventories
Inventories consisted of the following:
December 31,
 (in Millions)20242023
Finished goods$433.5 $643.8 
Work in process548.6 732.2 
Raw materials, supplies and other219.5 348.6 
Net inventories$1,201.6 $1,724.6 
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Property, Plant and Equipment
 12 Months Ended
Dec. 31, 2024
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment Property, Plant and Equipment
Property, plant and equipment consisted of the following:
December 31,
(in Millions)20242023
Land and land improvements$96.3 $98.1 
Buildings and building equipment537.2 540.0 
Machinery and equipment757.7 717.2 
Construction in progress206.7 204.5 
Total cost$1,597.9 $1,559.8 
Accumulated depreciation(748.2)(667.3)
Property, plant and equipment, net$849.7 $892.5 
_________________________
Depreciation expense was $68.7 million, $73.5 million, and $71.1 million in 2024, 2023 and 2022, respectively.
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Restructuring and Other Charges (Income)
 12 Months Ended
Dec. 31, 2024
Restructuring and Related Activities [Abstract]  
Restructuring and Other Charges (Income) Restructuring and Other Charges (Income)
The following table shows total restructuring and other charges (income) included in the respective line items of the consolidated statements of income (loss):
 Year Ended December 31,
(in Millions)202420232022
Restructuring charges (income)$303.0 $48.4 $(26.1)
Other charges (income), net(83.2)163.9 119.2 
Total restructuring and other charges (income)$219.8 $212.3 $93.1 
Restructuring charges (income)
(in Millions)Severance and Employee Benefits
Other Charges (Income) (1)
Asset Disposal Charges (2)
Total
Project Focus$55.8 $163.1 $87.0 $305.9 
Other items— (2.9)— (2.9)
Year ended December 31, 2024$55.8 $160.2 $87.0 $303.0 
Project Focus$40.1 $5.4 $— $45.5 
DuPont Crop restructuring — (8.1)2.8 (5.3)
Other items6.9 1.3 — 8.2 
Year ended December 31, 2023$47.0 $(1.4)$2.8 $48.4 
DuPont Crop restructuring $— $(49.9)$1.2 $(48.7)
Regional realignment 3.8 4.1 — 7.9 
Other items2.1 2.6 10.0 14.7 
Year ended December 31, 2022$5.9 $(43.2)$11.2 $(26.1)
____________________ 
(1)Other charges, primarily represents third-party costs associated with various restructuring activities. The year ended December 31, 2024, includes $132.1 million related to contract abandonment charges. Other income, if applicable, primarily represents favorable developments on previously recorded exit costs and recoveries associated with restructuring. The year ended December 31, 2024 includes a $3.1 million gain recognized on the disposition of a previously closed manufacturing site. The years ended December 31, 2023 and 2022 include the recognition of gains of $5.8 million and $50.5 million, respectively, in connection with an agreement for land disposition of a previously closed manufacturing site.
(2)Primarily represents asset write-offs (recoveries), and accelerated depreciation and impairment charges on long-lived assets, which were or are to be abandoned. To the extent incurred, the acceleration effect of re-estimating settlement dates and revised cost estimates associated with asset retirement obligations due to facility shutdowns, are also included within the asset disposal charges.
Project Focus
In 2023, we implemented a global restructuring plan, referred to as "Project Focus," designed to right-size our cost base and optimize our footprint and organizational structure with a focus on driving significant cost improvement and productivity in light of the precipitous drop in demand across the crop protection industry in 2023.
For the year ended December 31, 2024, we incurred $132.1 million of contract abandonment charges as a result of the continued evaluation of our supply chain footprint during the fourth quarter of 2024 and $53.3 million of non-cash asset write off charges resulting from the contract cessation with one of our third-party manufacturers during the second quarter of 2024. The decision to exit these agreements was driven in part by our ability to source these materials from lower cost locations. Charges incurred in connection with Project Focus also consist of $55.8 million in severance and employee separation charges, including costs associated with the CEO transition, $31.0 million of professional service provider costs and other miscellaneous charges associated with the project, accelerated depreciation of $20.5 million on assets identified for disposal in connection with the restructuring initiative, and $13.2 million of asset impairment charges. The charges incurred during 2024, as well as $45.5 million of charges incurred in 2023, are included in the total estimated range for Project Focus. The remaining amounts will be reflected in our consolidated results of operations as they become probable and estimable or a triggering event is identified in accordance with the relevant accounting guidance.
During the year ended December 31, 2024, we also recognized income of $2.9 million related to previously implemented restructuring initiatives including a gain recognized on the disposition of a previously closed manufacturing site.
Roll forward of restructuring reserves
The following table shows a roll forward of restructuring reserves that will result in cash spending. These amounts exclude asset retirement obligations:
(in Millions)Balance at 12/31/22
Change in
reserves (4)
Cash
payments
Other (5)
Balance at 12/31/23 (6)
Change in
reserves (4)
Cash
payments
Other (5)
Balance at 12/31/24 (6)
Project Focus (1)
$— $45.5 $(2.4)$— $43.1 $210.1 $(106.2)$(0.1)$146.9 
DuPont Crop restructuring (2)
5.0 — (1.0)(0.1)3.9 — (0.9)— 3.0 
Other workforce related and facility shutdowns (3)
5.6 9.9 (12.5)0.4 3.4 0.3 (2.1)(0.4)1.2 
Total$10.6 $55.4 $(15.9)$0.3 $50.4 $210.4 $(109.2)$(0.5)$151.1 
____________________ 
(1)Relates to the global restructuring plan initiated in 2023 and primarily consists of contract abandonment charges resulting from the evaluation of our supply chain footprint as well as severance charges related to workforce reduction actions across all regions.
(2)Represents remaining cash spending on facility separation costs associated with DuPont Crop restructuring activities.
(3)Includes exit costs related to workforce reductions and facility shutdowns on previously implemented restructuring initiatives.
(4)Primarily consists of severance and employee separation costs, third-party provider fees and, in 2024, contract abandonment charges. The accelerated depreciation and asset impairment charges associated with these restructurings that have impacted our property, plant and equipment, intangible balances or other asset balances are not included in this table.
(5)Primarily comprised of foreign currency translation and other non-cash adjustments.
(6)Included in "Accrued and other liabilities" and "Other long-term liabilities" on the consolidated balance sheets.

Other charges (income), net
 Year Ended December 31,
(in Millions)202420232022
Environmental charges, net$74.7 $66.9 $34.7 
Gain on sale of GSS (174.4)— — 
Exit from Russian Operations— — 76.8 
Currency related matters— 75.2 — 
IPR&D asset acquisition charges — 13.0 — 
Other items, net16.5 8.8 7.7 
Other charges (income), net$(83.2)$163.9 $119.2 

Environmental charges, net
Environmental charges represent the net charges associated with environmental remediation at continuing operating sites, which primarily represent obligations at shut down or abandoned facilities but do not meet the criteria for presentation as discontinued operations.
Sale of the GSS business
On November 1, 2024, we completed the sale of our GSS business to Envu. For the year ended December 31, 2024, we recognized a gain on sale, net of full year incurred transaction costs, of $174.4 million. Refer to Note 1 to the consolidated financial statements included within this Form 10-K for additional information on the transaction.
Exit from Russian Operations
As the Russia-Ukraine war continues, our values as a company as well as the sanctions imposed on, and cross-sanctions imposed and announced by, the Russian Federation led us to cease operations and business in Russia. This decision was made in mid-April of 2022 when we concluded that it was not sustainable to continue operations. As a result of this decision, we recorded a charge of approximately $76.8 million during the twelve months ended December 31, 2022. The charge primarily consists of noncash asset write offs, mainly working capital as well as the value of a packaging and formulation facility. This charge included approximately $7 million of cash that was stranded and not accessible to us.
Currency related matters    
During the twelve months ended December 31, 2023, we incurred $75.2 million in currency related charges driven by significant devaluation actions taken by the Argentine Government during the fourth quarter of 2023 as well as similar devaluation actions in Pakistan and Argentina during previous quarters of 2023.
IPR&D asset acquisition charges
During 2023, we finalized a development agreement which will bring to market a new herbicide active ingredient used to control weeds in rice. As part of the agreement, FMC acquired a data set that includes studies and technical research that will be used to support the development of formulations and product registrations. Acquired in-process research and development assets are expensed as incurred and included as a component of "Restructuring and other charges (income)" on the consolidated statements of income (loss).
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Receivables
 12 Months Ended
Dec. 31, 2024
Receivables [Abstract]  
Receivables Receivables
The following table displays a roll forward of the allowance for doubtful trade receivables.
(in Millions)
Balance, December 31, 2022$33.9 
Additions — charged (credited) to expense4.7 
Transfer from (to) allowance for credit losses (see below)(1.5)
Net recoveries, write-offs and other(8.0)
Balance, December 31, 2023$29.1 
Additions — charged (credited) to expense12.2 
Transfer from (to) allowance for credit losses (see below)(3.6)
Net recoveries, write-offs and other1.7 
Balance, December 31, 2024$39.4 

We have non-current receivables that represent long-term customer receivable balances related to past due accounts which are not expected to be collected within the current year. The net long-term customer receivables were $39.7 million as of December 31, 2024. These long-term customer receivable balances and the corresponding allowance are included in "Other assets including long-term receivables, net" on the consolidated balance sheets.
A portion of these long-term receivables have payment contracts. We have no reason to believe payments will not be made based upon the credit quality of these customers. Additionally, we also hold significant collateral against these customers including rights to property or other assets as a form of credit guarantee. If the customer does not pay or gives indication that they will not pay, these guarantees allow us to start legal action to block the sale of the customer’s harvest.
The following table displays a roll forward of the allowance for credit losses related to long-term customer receivables.
(in Millions)
Balance, December 31, 2022$44.5 
Additions — charged (credited) to expense1.6 
Transfer from (to) allowance for doubtful accounts (see above)1.5 
Foreign currency adjustments0.8 
Net recoveries, write-offs and other(21.3)
Balance, December 31, 2023$27.1 
Additions — charged (credited) to expense(1.8)
Transfer from (to) allowance for doubtful accounts (see above)3.6 
Foreign currency adjustments(3.4)
Net recoveries, write-offs and other(4.2)
Balance, December 31, 2024$21.3 
Receivables Securitization Facility:
FMC participates in certain trade receivables securitization programs, primarily impacting our Brazilian operations. On a revolving basis, FMC may sell certain trade receivables into the facilities in exchange for cash. A portion of the total receivables sold are deferred as an asset within "Other assets including long-term receivables, net" as presented on our consolidated balance sheets representing FMC’s beneficial interest in the securitization funds.
In all instances, the transferred financial assets are sold on a non-recourse basis and have met the true sale criteria under ASC Topic 860. FMC has surrendered control of the receivables and as a result they will no longer be recognized on the consolidated balance sheets. FMC may be engaged to serve as a special servicer for any delinquent receivables. In that capacity, we are entitled to market rate compensation for those services.
Cash receipts from the sale of trade receivables under the securitization arrangement, received at the time of sale, are classified as cash flows from operating activities.
There were $193.0 million in receivables sold under the securitization programs during the period ended December 31, 2024. A $18.2 million charge associated with the transfer of these financial assets is included as a component within Selling, general and administrative" expense during the period ended December 31, 2024. There were $148.3 million in receivables sold under the securitization program during the period ended December 31, 2023. A $11.9 million charge associated with the transfer of these financial assets is included as a component within "Selling, general and administrative expenses" during the period ended December 31, 2023.
As part of funding for all outstanding arrangements under the securitization programs, approximately $35.7 million of the sales have been retained by the investment fund and will be returned to FMC, including interest, at the maturity of the securitization. This asset is recorded within "Other assets including long-term receivables, net" on the consolidated balance sheets.

Other Receivable Factoring:
In addition to the above, we may sell trade receivables on a non-recourse basis to third-party financial institutions. These sales are normally driven by specific market conditions, including, but not limited to, foreign exchange environments, customer credit management, as well as other factors where the receivables originate.
We account for these transactions as true sales and as a result they will no longer be recognized on the consolidated balance sheets because the agreements transfer effective control and risk related to the receivables to the buyers. The net cash proceeds received are presented within cash provided by operating activities within our consolidated statements of cash flows. The cost of factoring these accounts receivables is recorded within "Selling, general and administrative expenses" on the consolidated statements of income (loss) and has been immaterial during each reporting period. Non-recourse factoring during the years ended December 31, 2024 and 2023 was $122.9 million and $155.0 million, respectively.
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Discontinued Operations
 12 Months Ended
Dec. 31, 2024
Discontinued Operations and Disposal Groups [Abstract]  
Discontinued Operations Discontinued Operations
Our discontinued operations in our financial statements include adjustments to retained liabilities from previous discontinued operations. The primary liabilities retained include environmental liabilities, other postretirement benefit liabilities, self-insurance liabilities, long-term obligations related to legal proceedings and historical restructuring activities.
Our discontinued operations comprised the following:
(in Millions)Year Ended December 31,
202420232022
Adjustment for workers’ compensation, product liability, and other postretirement benefits and other, net of income tax benefit (expense) of $(2.5) in 2024, $(0.9) in 2023 and $(2.5) in 2022
$(5.2)$(3.0)$(3.9)
Provision for environmental liabilities, net of recoveries, net of income tax benefit (expense) of $8.7 in 2024, $18.0 in 2023, and $13.8 in 2022 (1)(2)
(32.8)(65.6)(53.8)
Provision for legal reserves and expenses, net of recoveries, net of income tax benefit (expense) of $6.3 in 2024, $7.9 in 2023, and $10.5 in 2022 (3)
(23.8)(29.9)(39.5)
Discontinued operations, net of income taxes$(61.8)$(98.5)$(97.2)
___________________________
(1)The provision for the year ended December 31, 2023 includes a $11.7 million charge resulting from a settlement agreement related to one of our foreign environmental remediation sites. The charge recorded adjusts the reserve to the anticipated payment amount. The agreement removes any future remediation obligations for the site.
(2)See a roll forward of our environmental reserves as well as discussion on significant environmental issues that occurred during the year in Note 10 to the consolidated financial statements included within this Form 10-K.
(3)Discontinued operations for the twelve months ended December 31, 2024 includes a gain of $18.0 million recognized as the result of an insurance settlement for retained legal reserves.

Reserves for Discontinued Operations, other than Environmental at December 31, 2024 and 2023
(in Millions)December 31,
20242023
Workers’ compensation, product liability, and indemnification reserves$7.1 $7.3 
Postretirement medical and life insurance benefits reserve, net3.1 4.4 
Reserves for legal proceedings144.0 123.9 
Reserve for discontinued operations (1)
$154.2 $135.6 
___________________________
(1)Included in "Other long-term liabilities" on the consolidated balance sheets. See Note 10 to the consolidated financial statements included within this Form 10-K on discontinued environmental reserves.

The discontinued postretirement medical and life insurance benefits liability equals the accumulated postretirement benefit obligation. Associated with this liability is a net pre-tax actuarial gain and prior service credit of $3.0 million ($1.7 million after-tax) and $2.2 million ($1.0 million after-tax) at December 31, 2024 and 2023, respectively.
Net spending in 2024, 2023 and 2022 was $6.5 million, $3.1 million and $2.4 million, respectively, for workers’ compensation, product liability and other claims; $0.2 million, $0.2 million and $0.3 million, respectively, for other postretirement benefits; and $6.8 million, $28.3 million and $27.9 million, respectively, related to reserves for legal proceedings associated with discontinued operations.
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Environmental Obligations
 12 Months Ended
Dec. 31, 2024
Environmental Remediation Obligations [Abstract]  
Environmental Obligations Environmental Obligations
We are subject to various federal, state, supranational, local and foreign environmental laws and regulations that govern emissions of air pollutants, discharges of water pollutants, the manufacture, generation, storage, handling and disposal of hazardous substances, hazardous wastes and other toxic materials, and remediation of contaminated sites. We are also subject to liabilities arising under the federal CERCLA and similar or analogous state laws that impose responsibility on persons who arranged for the disposal of hazardous substances, and on current and previous owners and operators of a facility for the clean-up of hazardous substances released from the facility into the environment. We are also subject to liabilities under the federal Resource Conservation and Recovery Act ("RCRA") and similar or analogous state laws that require owners and operators of facilities that have treated, stored or disposed of hazardous waste pursuant to a RCRA permit to follow certain waste management practices and to investigate and clean up releases of hazardous substances into the environment associated with past or present practices. In addition, when deemed appropriate, we enter certain sites with potential liability into voluntary remediation compliance programs, which are also subject to guidelines that require owners and operators, current and previous, to clean up releases of hazardous substances into the environment associated with those sites.
Environmental liabilities include obligations relating to waste handling and the remediation and/or study of sites at which we are alleged to have released or disposed of hazardous substances. These sites include current operations, previously operated sites, sites associated with discontinued operations, or sites where we are alleged to have arranged for the disposal of hazardous substances. We have accrued reserves for potential environmental obligations that we consider probable and for which a reasonable estimate of the obligation can be made. Accordingly, total reserves before recoveries of $623.2 million and $601.8 million existed at December 31, 2024 and 2023, respectively.
The estimated reasonably possible environmental loss contingencies, net of expected recoveries, exceed amounts accrued by approximately $290.0 million at December 31, 2024. 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.
Additionally, although potential environmental remediation expenditures in excess of the reserves and estimated loss contingencies could be significant, the impact on our future consolidated financial results is not subject to reasonable estimation due to numerous uncertainties concerning the nature and scope of possible contamination at many sites, identification of remediation alternatives under constantly changing requirements, selection of new and diverse clean-up technologies to meet compliance standards, the timing of potential expenditures and the allocation of costs among potentially responsible parties ("PRPs") as well as other third parties. The liabilities arising from potential environmental obligations that have not been reserved for at this time may be material to any one quarter's or year's results of operations in the future.
The table below is a roll forward of our total environmental reserves, continuing and discontinued, from December 31, 2021 to December 31, 2024.
(in Millions)Operating and Discontinued Sites Total
Total environmental reserves, net of recoveries at December 31, 2021$503.2 
2022 Activity
Provision104.8 
Spending, net of recoveries(74.5)
Foreign currency translation adjustments(4.3)
Net change$26.0 
Total environmental reserves, net of recoveries at December 31, 2022$529.2 
2023 Activity
Provision152.3 
Spending, net of recoveries(92.6)
Foreign currency translation adjustments and other adjustments3.2 
Net change$62.9 
Total environmental reserves, net of recoveries at December 31, 2023$592.1 
2024 Activity
Provision116.0 
Spending, net of recoveries(88.5)
Foreign currency translation adjustments(6.5)
Net change$21.0 
Total environmental reserves, net of recoveries at December 31, 2024$613.1 

To ensure we are held responsible only for our equitable share of site remediation costs, we have initiated, and will continue to initiate, legal proceedings for contributions from other PRPs. At December 31, 2024 and 2023, we have recorded recoveries representing probable realization of claims against U.S. government agencies, insurance carriers and other third parties. Recoveries are recorded as either an offset to the "Environmental liabilities, continuing and discontinued" or as "Other assets including long-term receivables, net" on the consolidated balance sheets.

The table below is a roll forward of our total recorded recoveries from December 31, 2022 to December 31, 2024:
(in Millions)December 31, 2022Increase (Decrease) in RecoveriesCash Received December 31, 2023Increase (Decrease) in RecoveriesCash Received December 31, 2024
Environmental liabilities, continuing and discontinued$13.9 $(3.1)$(1.1)$9.7 $0.5 $(0.1)$10.1 
Other assets (1)
6.4 2.1 (3.6)4.9 (0.1)(1.0)3.8 
Total$20.3 $(1.0)$(4.7)$14.6 $0.4 $(1.1)$13.9 
______________
(1)     The amounts are included within "Prepaid and other current assets" and "Other assets including long-term receivables, net" on the consolidated balance sheets. See Note 21 to the consolidated financial statements included within this Form 10-K for more details.
The table below provides detail of current and long-term environmental reserves, continuing and discontinued.
December 31,
(in Millions)20242023
Environmental reserves, current, net of recoveries (1)
$91.8 $97.4 
Environmental reserves, long-term continuing and discontinued, net of recoveries (2)
521.3 494.7 
Total environmental reserves, net of recoveries$613.1 $592.1 
___________________________
(1)These amounts are included within "Accrued and other liabilities" on the consolidated balance sheets.
(2)These amounts are included in "Environmental liabilities, continuing and discontinued" on the consolidated balance sheets.

Our net environmental provisions relate to costs for the continued remediation of both operating sites and for certain discontinued manufacturing operations from previous years. The net provisions are comprised as follows:
Year Ended December 31,
(in Millions)202420232022
Continuing operations (1)
$74.7 $66.9 $34.7 
Discontinued operations (2)
41.5 83.6 67.6 
Net environmental provision$116.2 $150.5 $102.3 
___________________________
(1)Recorded as a component of "Restructuring and other charges (income)" on our consolidated statements of income. See Note 7 to the consolidated financial statements included within this Form 10-K. 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.
(2)Recorded as a component of "Discontinued operations, net of income taxes" on our consolidated statements of income (loss). The year ended December 31, 2023 includes a $11.7 million charge resulting from a settlement agreement with the other party involved at one of our foreign environmental remediation sites. See Note 9 to the consolidated financial statements included within this Form 10-K for further details.

On our consolidated balance sheets, the net environmental provisions affect assets and liabilities as follows:
Year Ended December 31,
(in Millions)202420232022
Environmental reserves (1)
$116.0 $152.3 $104.8 
Other assets (2)
0.2 (1.8)(2.5)
Net environmental provision$116.2 $150.5 $102.3 
___________________________
(1)See above roll forward of our total environmental reserves as presented on our consolidated balance sheets.
(2)Represents certain environmental recoveries. See Note 21 to the consolidated financial statements included within this Form 10-K for details of "Other assets including long-term receivables, net" as presented on our consolidated balance sheets.
Significant Environmental Sites
Pocatello
From 1949 until 2001, we operated the world's largest elemental phosphorus plant in Power County, Idaho, just outside the city of Pocatello. Since the plant's closure, FMC has worked with the EPA, the State of Idaho, and the Shoshone-Bannock Tribes ("Tribes") to develop a proposed cleanup plan for the property. In September 2012, the EPA issued an Interim Record of Decision ("IROD") that is environmentally protective and that is also protective of the health and safety of both workers and the general public. Since the plant's closure, we have successfully decommissioned our Pocatello plant, completed closure of the RCRA ponds and formally requested that the EPA acknowledge completion of work under a June 1999 RCRA Consent Decree. Future remediation costs include completion of the IROD that addresses groundwater contamination and existing waste disposal areas on the Pocatello plant portion of the Eastern Michaud Flats Superfund Site. In June 2013, the EPA issued a Unilateral Administrative Order to us under which we are continuing to implement the IROD remedy. Our current reserves factor in the estimated costs associated with implementing the IROD. In addition to implementing the IROD, we continue to conduct work pursuant to CERCLA unilateral administrative orders to address air emissions from beneath the cap of several of the closed RCRA ponds. Actions also involve impacts of the Tribal Litigation discussed below.
The amount of the reserve for this site was $115.9 million and $82.9 million at December 31, 2024 and 2023, respectively. The increase to the reserve was primarily a result of our submission of a Post-Closure Care Plan to the EPA outlining the scope and schedule for operations, monitoring, and maintenance of the closed RCRA Ponds. The reserve includes $28.0 million at December 31, 2024 for the Pocatello Tribal Litigation as described below.
Annual Tribal Waste Permit Fee
After prolonged litigation with the Tribes concerning an annual $1.5 million waste permit fee, we were ordered to pay this annual fee for the duration of time that waste material remains buried on site. Given that on-site waste burial is the approved remedy, this fee is presumptively without end.
Our reserves reflect this annual waste permit fee. In calculating the net present value of these future annual permit fees, we used a discount rate of 4.86%, which represents the appropriate risk-free rate. We believe that the application of this rate produces a result which approximates the amount that would hypothetically satisfy our liability in an arms-length transaction. Estimates for expenditures for 2024 and beyond are $1.5 million in annual fees payable each year thereafter. The expected aggregate undiscounted amount related to this matter is $75.0 million of which $28.0 million, on a discounted basis, has been recognized in environmental liabilities on the balance sheet.
Middleport
Our Middleport, NY facility is currently a formulation and packaging plant that formerly manufactured arsenic-based and other products. Releases of hazardous substances have occurred at the site that have affected soil, sediment, surface water and groundwater at the facility's property and also in adjacent off-site areas. These impacts were the subject of an Administrative Order on Consent entered into with the USEPA and New York State Department of Environmental Conservation ("NYSDEC", and collectively with USEPA, the "Agencies") in 1991, which was replaced by a New Order on Consent and Administrative Settlement with the NYSDEC, effective June 6, 2019 ("2019 Order"). Like the prior order, the 2019 Order requires us to (1) define the nature and extent of contamination related to our historical plant operations, (2) take interim corrective measures and (3) evaluate Corrective Measure Alternatives ("CMA") for discrete areas, known as operable units ("OUs") of which there are 11.
We have defined the nature and extent of the environmental impacts in certain areas, have constructed an engineered cover, taken certain closure actions regarding RCRA regulated surface water impoundments and are collecting and treating both surface water runoff and ground water. To date, we have evaluated and proposed CMAs for six of the 11 identified OUs.
Middleport Reserves
Our total reserve for the Middleport site is $128.5 million and $130.8 million at December 31, 2024 and 2023, respectively. FMC is in various stages of evaluating the remaining operable units. The reserve represents the estimated remediation costs for OUs 2,4 and 5 as well as our best estimate for remediation costs associated with the operable unit that comprises the southern portion of the tributary ("OU 6") plus the impact of inflation.
In 2024 and 2023, the Middleport site resulted in cash outflows of $10.0 million and $12.5 million, respectively. In accordance with the 2019 Order, cash outflows will not exceed an average of $10 million per year until the remediation is complete for activities associated with the 2019 Order.
Portland Harbor
FMC is listed as a PRP in the Portland Harbor Superfund Site ("Portland Harbor"), that consists of the river sediment and upland area of a 10 mile section of the Lower Willamette River in Portland, Oregon that runs through an industrialized area. Portland Harbor is listed on the CERCLA National Priorities List ("NPL"). FMC formerly owned and operated a manufacturing site adjacent to this section of the river and has since sold its interest in this discontinued business.
FMC and several other parties have been sued by the Confederated Bands and Tribes of the Yakama Nation for reimbursement of cleanup costs and the costs of performing a natural resource damages assessment. Based on the information known to date, we are unable to develop a reasonable estimate of our potential exposure of loss at this time. We intend to defend this matter. In addition, the Portland Harbor Natural Resource Trustee Council ("Trustee Council"), composed of federal, state and tribal trustees, was formed in 2002 to develop and coordinate an assessment of injury to natural resources associated with the Portland Harbor Superfund Site, to implement the restoration of injured natural resources associated with Portland Harbor, and to pursue the recovery of natural resources damages associated with Portland Harbor. The Trustee Council has advised the Company that it intends to pursue litigation for the recovery of natural resources damages and of the costs of assessment. To date, the Company has not been served in connection with such a lawsuit.
On January 6, 2017, the EPA issued its ROD for Portland Harbor. On December 30, 2019, FMC and EPA entered into an Administrative Settlement Agreement and Order on Consent to perform the remedial design for the area at and around FMC's former operations. The cost of performing predesign investigation work and preparing the basis of design report is included in our reserves. Based on the current information available in the ROD as well as the large number of responsible parties for Portland Harbor, we are unable to develop a reasonable estimate of our potential exposure of loss for Portland Harbor at this time.
Currently, FMC and approximately 100 other parties are involved in a non-judicial allocation process to determine each party’s respective share of the cleanup costs. The allocation process has been ongoing since November 2021 and a final report is expected to be issued in late 2025 or early 2026 under the current schedule.
In November 2024, FMC was served by the EPA with a Special Notice Letter ("SNL") inviting FMC and approximately sixty other recipients to participate in formal negotiations to reach a settlement to conduct or finance the response action at Portland Harbor. The EPA advises in the SNL that it seeks to complete the negotiations for a site-wide consent decree in the fall of 2026, but no later than March 2027. The SNL recipients sought and received certain clarifications from the EPA with respect to the SNL. Our response to the SNL is currently due in March 2025. In the meantime, parties in the allocation group are continuing to negotiate with the EPA.
We intend to continue defending this matter vigorously. Because of this uncertainty related to the cost of the remedy and the potential share allocable to FMC, we cannot say whether the ultimate resolution of our potential obligations at Portland Harbor will have a material adverse effect on our consolidated financial position, liquidity or results of operations. However, adverse results in the outcome of the allocation could have a material adverse effect on our consolidated financial position, results of operations in any one reporting period, or liquidity.
Other Potentially Responsible Party ("PRP") Sites
In addition to Portland Harbor, we have been named a PRP at 28 sites on the NPL, at which our potential liability has not yet been settled. We have received notice from the EPA or other regulatory agencies that we may be a PRP, or PRP equivalent, at other sites, including 45 sites at which we have determined that it is probable that we have an environmental liability for which we have recorded an estimate of our potential liability on the consolidated financial statements. At other sites, such as at a former phosphorus facility in Carteret, NJ, we are performing remedial investigation work under state regulatory programs but have not established reserves due to the inability to reasonably estimate potential liability at this time.
In cooperation with appropriate government agencies, we are currently participating in, or have participated in, an RI/FS, or equivalent, at most of the identified sites, with the status of each investigation varying from site to site. At certain sites, a RI/FS has only recently begun, providing limited information, if any, relating to cost estimates, timing, or the involvement of other PRPs; whereas, at other sites, the studies are complete, remedial action plans have been chosen, or a ROD has been issued.
v3.25.0.1
Income Taxes
 12 Months Ended
Dec. 31, 2024
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
Domestic and foreign components of income (loss) from continuing operations before income taxes are shown below: 
 Year Ended December 31,
(in Millions)202420232022
Domestic$(271.6)$(312.7)$(89.6)
Foreign524.1 612.9 1,073.5 
Total$252.5 $300.2 $983.9 

The provision (benefit) for income taxes attributable to income (loss) from continuing operations consisted of: 
 Year Ended December 31,
(in Millions)202420232022
Current:
Federal$28.2 $58.5 $45.7 
Foreign160.2 113.9 152.1 
State1.0 1.1 0.1 
Total current$189.4 $173.5 $197.9 
Deferred:
Federal$(66.0)$(82.7)$(28.6)
Foreign(271.9)(1,212.0)(27.4)
State(2.4)1.9 3.3 
Total deferred$(340.3)$(1,292.8)$(52.7)
Total$(150.9)$(1,119.3)$145.2 


The effective income tax rate applicable to income from continuing operations before income taxes was different from the statutory U.S. federal income tax rate due to the factors listed in the following table: 
 Year Ended December 31,
(in Millions)202420232022
U.S. Federal statutory rate$53.0 $63.0 $206.6 
Foreign earnings subject to different tax rates (1)
(137.3)(130.7)(152.7)
State and local income taxes, less federal income tax benefit(7.7)2.5 5.5 
Research and development and miscellaneous tax credits(5.7)(5.4)(5.7)
Tax on dividends, deemed dividends, and GILTI (2)
41.9 37.0 24.6 
Changes to unrecognized tax benefits9.6 10.5 10.5 
Nondeductible expenses9.3 9.3 19.6 
Change in valuation allowance (3)
639.7 172.5 71.3 
Exchange gains and losses (4)
30.3 (18.4)(12.0)
Impact of Switzerland tax incentives (5)
(645.0)(1,149.2)— 
Other (6)
(139.0)(110.4)(22.5)
Total Tax Provision$(150.9)$(1,119.3)$145.2 
___________________________
(1)A significant amount of our earnings is generated by our foreign subsidiaries (e.g., Switzerland, Singapore, Hong Kong), which tax earnings at lower statutory rates than the United States federal statutory rate. Our future effective tax rates may be materially impacted by a future change in the composition of earnings from foreign and domestic tax jurisdictions.
(2)The years ended December 31, 2024, 2023, and 2022 includes tax expense of $18.1 million, $25.5 million, and $17.8 million, respectively, associated with the global intangible low-taxed income (GILTI) provisions.
(3)The year ended December 31, 2024 is primarily related to the estimated portion of nonrefundable tax credits within our Swiss operations that are not expected to be utilized, the impact of the step-up in tax basis to the fair value of the transferred intellectual property by the Company’s Swiss subsidiary, and net operating losses within our full valuation allowance Luxembourg operations. The year ended December 31, 2023 is primarily related to the estimated portion of nonrefundable tax credits within our Swiss operations that are not expected to be utilized and net operating losses and other deferred tax assets within our Argentina operations, partially offset by the release of the valuation allowance within our Brazil operations, as described further below. The year ended December 31, 2022 is primarily related to net operating losses and other deferred tax assets within our Brazil and Argentina operations.
(4)Includes the impact of transaction gains or losses on net monetary assets for which no corresponding tax expense or benefit is realized and the tax provision for statutory taxable gains or losses in foreign jurisdictions for which there is no corresponding amount in income before taxes.
(5)The year ended December 31, 2024 represents the recognition of a step-up in tax basis to the fair value of the transferred intellectual property by the Company's Swiss subsidiary. The year ended December 31, 2023 is related to ten-year nonrefundable tax credits granted to the Company's Swiss subsidiaries, as discussed above.
(6)The year ended December 31, 2024 includes a U.S. capital loss in the amount of $38.6 million and additional amounts materially attributable to internal restructuring in our full valuation allowance Luxembourg entities. The year ended December 31, 2023 includes a net decrease of approximately $120 million related to adjustments of deferred tax balances in Singapore, Puerto Rico, and Switzerland. The year ended December 31, 2022 included a $39.7 million decrease related to certain deferred tax liabilities as a result of the extension of our incentive tax rate in Puerto Rico.
During the year ended December 31, 2023, the Company’s Swiss subsidiaries were granted ten-year tax incentives effective for 2023 and retroactively for 2021 and 2022. The tax incentives were awarded for the Company’s commitment to invest in additional headcount and transfer significant intellectual property as well as commitment to establish a new global technology and innovation center in Switzerland. Net deferred tax benefits of $1,149 million and related valuation allowances of $318 million were recorded during the three months ended December 31, 2023 to reflect the estimated net future reductions in tax of $831 million associated with the incentives.
In connection with our plans to establish a global technology and innovation center in Switzerland, we initiated changes to our corporate entity structure, including intra-entity transfers of certain intellectual property, during the second quarter of 2024. As a result, we recorded a net tax benefit of approximately $300 million. This benefit, net of valuation allowance, was primarily a result of the recognition of a step-up in tax basis to the fair value of the transferred intellectual property by one of the Company’s Swiss subsidiaries. In addition, local tax impacts associated with the disposition of the transferred intellectual property were recorded as well as an increase in our valuation allowance associated with Swiss nonrefundable tax credits as a result of indirect effects of the transferred intellectual property. During the fourth quarter of 2024, the Company recorded additional valuation allowances of approximately $120 million as a result of updated projections of future earnings associated with the 2023 deferred tax benefits noted above.
Historically, FMC’s Brazil valuation allowance position was based on long-standing local transfer pricing rules, as well as certain material favorable permanent statutory tax deductions available to FMC Brazil as part of local tax law. During the three months ended December 31, 2023, the Company released its FMC Brazil valuation allowance and recorded a tax benefit of approximately $223 million as a result of the Brazilian Government enacting a new tax law that significantly limits FMC Brazil’s ability to benefit in the future from the material favorable permanent statutory tax deductions previously available as part of local tax law.
Subsequent Event - 2025
In January of 2025, the Organization for Economic Co-operation and Development ("OECD") issued administrative guidance on the Global Anti-Base Erosion Model (GLOBE) rules that clarify how certain rules are to be interpreted. This administrative guidance includes changes to certain tax credits and other tax benefits that arose from governmental arrangements granted after November 2021. It has been concluded that this new administrative guidance is part of Swiss tax law when issued and is retro-active. FMC’s non-refundable tax credits which were granted in 2023 to our Swiss subsidiaries are impacted by this new guidance. The tax credits were previously grandfathered in for full use under the GLOBE rules. FMC is currently evaluating the impacts of this on its financial statements.
Significant components of our deferred tax assets and liabilities were attributable to:
 December 31,
(in Millions)20242023
Reserves for discontinued operations, environmental and restructuring$190.1 $144.7 
Accrued pension and other postretirement benefits5.3 9.8 
Capital loss, foreign tax and other credit carryforwards1,128.1 1,136.0 
Net operating loss carryforwards564.1 411.2 
Deferred expenditures capitalized for tax108.6 94.5 
Intangibles, Property, plant and equipment, and Investments, net387.9 — 
Other accruals and reserves267.5 234.0 
Deferred tax assets$2,651.6 $2,030.2 
Valuation allowance, net(1,213.8)(588.4)
Deferred tax assets, net of valuation allowance$1,437.8 $1,441.8 
Intangibles, Property, plant and equipment, and Investments, net— 263.3 
Deferred tax liabilities$— $263.3 
Net deferred tax assets (liabilities)$1,437.8 $1,178.5 

We evaluate our deferred income taxes quarterly to determine if valuation allowances are required or should be adjusted. GAAP accounting guidance requires companies to assess whether valuation allowances should be established against deferred tax assets based on all available evidence, both positive and negative, using a "more likely than not" standard. In assessing the need for a valuation allowance, appropriate consideration is given to all positive and negative evidence related to the realization of deferred tax assets. This assessment considers, among other matters, the nature and severity of current and cumulative losses, forecasts of future profitability, the duration of statutory carryforward periods, and tax planning alternatives. We operate and derive income across multiple jurisdictions. As our business experiences changes in operating results across its geographic footprint, we may encounter losses in jurisdictions that have been historically profitable, and as a result might require additional valuation allowances to be recorded. We are committed to implementing tax planning actions, when deemed appropriate, in jurisdictions that experience losses in order to realize deferred tax assets prior to their expiration.
At December 31, 2024, we had net operating loss and tax credit carryforwards as follows: U.S. state net operating loss carryforwards of $19.8 million (tax-effected) expiring in future tax years through 2042, foreign net operating loss carryforwards of $544.3 million (tax-effected) expiring in various future years, and other tax credit carryforwards of $1,128.1 million expiring in various future years through 2034.
Uncertain Income Tax Positions
U.S. GAAP accounting guidance for uncertainty in income taxes prescribes a model for the recognition and measurement of a tax position taken or expected to be taken in a tax return, and provides guidance on derecognition, classification, interest and penalties, disclosure and transition.
We file income tax returns in the U.S. federal jurisdiction, and various states and foreign jurisdictions. The income tax returns for FMC entities taxable in the U.S. and significant foreign jurisdictions are open for examination and adjustment. As of December 31, 2024, the U.S. federal and state income tax returns are open for examination and adjustment for the years 2017 — 2024 and 2004 — 2024, respectively. Our significant foreign jurisdictions, which total 11, are open for examination and adjustment during varying periods from 2014 — 2024.
As of December 31, 2024, we had total unrecognized tax benefits of $53.1 million, of which $41.5 million would favorably impact the effective tax rate from continuing operations if recognized. As of December 31, 2023, we had total unrecognized tax benefits of $51.2 million, of which $37.1 million would favorably impact the effective tax rate if recognized. Interest and penalties related to unrecognized tax benefits are reported as a component of income tax expense. For the years ended December 31, 2024, 2023 and 2022, we had interest and penalties for a net expense (benefit) of $2.3 million, $4.3 million, and $2.6 million, respectively, on the consolidated statements of income (loss). As of December 31, 2024 and 2023, we have accrued interest and penalties on the consolidated balance sheets of $18.6 million and $16.3 million, respectively.
Due to the potential for resolution of federal, state, or foreign examinations, and the expiration of various jurisdictional statutes of limitation, it is reasonably possible that our liability for unrecognized tax benefits will decrease within the next 12 months by a range of $3.6 million to $23.9 million.
A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows: 
December 31,
(in Millions)202420232022
Balance at beginning of year$51.2 $46.1 $41.9 
Increases related to positions taken in the current year8.6 2.4 4.8 
Increases and decreases related to positions taken in prior years(1.2)3.5 2.9 
Decreases related to lapse of statutes of limitations(5.5)(0.8)(3.5)
Settlements during the current year— — — 
Decreases for tax positions on dispositions— — — 
Balance at end of year (1)
$53.1 $51.2 $46.1 
___________________________
(1)At December 31, 2024, 2023, and 2022 we recognized an offsetting non-current asset of $10.5 million, $12.9 million, and $12.8 million respectively, relating to the indirect income tax benefits associated with specific uncertain tax positions presented above.
v3.25.0.1
Debt
 12 Months Ended
Dec. 31, 2024
Debt Disclosure [Abstract]  
Debt Debt
Debt maturing within one year:
Debt maturing within one year consists of the following:
December 31,
(in Millions)20242023
Short-term foreign debt (1)
$135.7 $98.0 
Commercial paper (2)
125.6 739.5 
Total short-term debt$261.3 $837.5 
Current portion of long-term debt76.1 96.5 
Total short-term debt and current portion of long-term debt (3)
$337.4 $934.0 
___________________________
(1)At December 31, 2024, the average effective interest rate on the borrowings was 10.6 percent.
(2)At December 31, 2024, the average effective interest rate on the borrowings was 5.0 percent.
(3)Based on cash generated from operations, our existing liquidity facilities, which includes the revolving credit agreement with the option to increase capacity up to $2.75 billion, and our continued access to debt capital markets, we have adequate liquidity to meet any of the Company's debt obligations in the near term including any current portion of long-term debt.

Long-term debt:
Long-term debt consists of the following:
(in Millions)December 31, 2024December 31,
Interest Rate
Percentage
Maturity
Date
20242023
Pollution control and industrial revenue bonds (less unamortized discounts of $0.1 and $0.1, respectively)
6.45%
 2032
$49.9 $49.9 
Senior notes (less unamortized discounts of $1.6 and $1.8, respectively)
3.2% - 6.4%
2026 - 2053
2,998.4 2,998.2 
Revolving Credit Facility (1)
7.1%2027— — 
Foreign debt
12.2% - 12.6%
2025
76.1 96.5 
Debt issuance cost(20.4)(24.5)
Total long-term debt$3,104.0 $3,120.1 
Less: debt maturing within one year76.1 96.5 
Total long-term debt, less current portion$3,027.9 $3,023.6 
___________________________
(1)Letters of credit outstanding under the Revolving Credit Facility totaled $210.1 million and available funds under this facility were $1,664.3 million at December 31, 2024.
Maturities of long-term debt
Maturities of long-term debt outstanding, excluding discounts, at December 31, 2024, are $76.1 million in 2025, $1,000.0 million in 2026, zero in 2027, zero in 2028, $500.0 million in 2029 and $1,550.0 million thereafter.
Covenants
Among other restrictions, the Fifth Amended and Restated Credit Agreement, dated as of June 17, 2022 (the "Revolving Credit Facility") contains financial covenants applicable to FMC and its consolidated subsidiaries related to leverage (measured as the ratio of debt to adjusted earnings) and interest coverage (measured as the ratio of adjusted earnings to interest expense). Our actual leverage for the four consecutive quarters ended December 31, 2024 was 3.72, which is below the maximum leverage of 5.00. Our actual interest coverage for the four consecutive quarters ended December 31, 2024 was 3.90, which is above the minimum interest coverage of 3.00. We were in compliance with all covenants at December 31, 2024.
Revolving Credit Facility Amendments
On February 3, 2025, we entered into Amendment No. 3 to our Revolving Credit Facility to amend the maximum leverage ratio and minimum interest coverage ratio to provide additional financial flexibility given current market challenges. As defined in the amendment, the maximum leverage ratio is increased to 5.25 through the period ending September 30, 2025 and will incrementally step down during the covenant relief period ending at 3.75 for the quarter ended December 31, 2027. The amendment also maintains the minimum interest coverage ratio at 3.00 through the quarter ended December 31, 2025. The minimum interest coverage ratio will return to 3.50 beginning with the quarter ended March 31, 2026. On February 11, 2025, we entered into Amendment No. 4 to our Revolving Credit Facility. As defined in the amendment, the maturity date of the facility was extended to June 17, 2028. Financing fees associated with both amendments, which were not material, have been deferred and will be recognized as interest expense over the life of the agreement.
v3.25.0.1
Pension and Other Postretirement Benefits
 12 Months Ended
Dec. 31, 2024
Retirement Benefits [Abstract]  
Pension and Other Postretirement Benefits Pension and Other Postretirement Benefits
The funded status of our U.S. qualified and nonqualified defined benefit pension plans, our Germany, France, and Belgium defined benefit pension plans, plus our U.S. other postretirement healthcare and life insurance benefit plans for continuing operations, together with the associated balances and net periodic benefit cost recognized in our consolidated financial statements as of December 31, are shown in the tables below.
We are required to recognize in our consolidated balance sheets the overfunded and underfunded status of our defined benefit postretirement plans. The overfunded or underfunded status is defined as the difference between the fair value of plan assets and the projected benefit obligation. We are also required to recognize as a component of other comprehensive income the actuarial gains and losses and the prior service costs and credits that arise during the period.
The following table summarizes the weighted-average assumptions used to determine the benefit obligations at December 31 for the U.S. Plans:
Pensions and Other Benefits
December 31,
20242023
Discount rate qualified5.60 %4.97 %
Discount rate nonqualified plan5.31 %4.78 %
Discount rate other benefits5.40 %4.83 %
Rate of compensation increase3.10 %3.10 %
The following table summarizes the components of our defined benefit postretirement plans and reflect a measurement date of December 31:
Pensions
Other Benefits (1)
December 31,
(in Millions)2024202320242023
Change in projected benefit obligation
Projected benefit obligation at January 1$1,032.2 $1,044.3 $9.2 $11.2 
Service cost1.8 2.6 — — 
Interest cost48.2 50.4 0.4 0.5 
Actuarial loss (gain) (2)
(45.2)19.0 (1.4)(1.4)
Foreign currency exchange rate changes and other(0.4)— — — 
Plan participants’ contributions— — 0.3 0.3 
Settlements(3.1)(1.0)— — 
Benefits paid(83.6)(83.1)(1.3)(1.4)
Projected benefit obligation at December 31$949.9 $1,032.2 $7.2 $9.2 
Change in plan assets
Fair value of plan assets at January 1$1,041.3 $1,044.1 $— $(0.1)
Actual return on plan assets3.6 79.2 — — 
Foreign currency exchange rate changes0.2 0.3 — — 
Company contributions4.6 1.2 0.9 1.2 
Plan participants’ contributions— — 0.4 0.3 
Settlements(3.1)(0.4)— — 
Benefits paid(83.6)(83.1)(1.3)(1.4)
Fair value of plan assets at December 31$963.0 $1,041.3 $— $— 
Funded Status
U.S. plans with assets$31.7 $30.7 $— $— 
U.S. plans without assets(12.3)(14.7)(7.2)(9.2)
Non-U.S. plans with assets(1.0)(1.6)— — 
All other plans(5.3)(5.3)— — 
Net funded status of the plan (liability)$13.1 $9.1 $(7.2)$(9.2)
Amount recognized on the consolidated balance sheets:
Pension asset (3)
$31.7 $30.7 $— $— 
Accrued benefit liability (4)
(18.6)(21.6)(7.2)(9.2)
Total$13.1 $9.1 $(7.2)$(9.2)
___________________________
(1)Refer to Note 9 to the consolidated financial statements included within this Form 10-K for information on our discontinued postretirement benefit plans.
(2)The actuarial gain in 2024 and loss in 2023 were primarily driven by the change in discount rate on the U.S. qualified plan.
(3)Recorded as "Other assets including long-term receivables, net" on the consolidated balance sheets.
(4)Recorded as "Accrued pension and other postretirement benefits, current" and "Accrued pension and other postretirement benefits, long-term" on the consolidated balance sheets.
The amounts in accumulated other comprehensive income (loss) that have not yet been recognized as components of net periodic benefit cost are as follows:
 Pensions
Other Benefits (1)
 December 31,
(in Millions)2024202320242023
Prior service (cost) credit$(0.1)$(0.1)$— $— 
Net actuarial (loss) gain(291.3)(309.9)5.6 5.3 
Accumulated other comprehensive income (loss) – pretax$(291.4)$(310.0)$5.6 $5.3 
Accumulated other comprehensive income (loss) – net of tax$(215.1)$(229.9)$4.2 $3.9 
___________________________
(1)     Refer to Note 9 to the consolidated financial statements included within this Form 10-K for information on our discontinued postretirement benefit plans.

The accumulated benefit obligation for all pension plans was $946.2 million and $1,027.0 million at December 31, 2024 and 2023, respectively. The following table presents the information for pension plans with projected benefit obligation and accumulated benefit obligation in excess of plan assets as of December 31, 2024 and 2023.
(in Millions)December 31
20242023
Projected benefit obligations$22.5 $25.2 
Accumulated benefit obligations23.1 26.1 
Fair value of plan assets3.9 3.6 

Other changes in plan assets and benefit obligations for continuing operations recognized in other comprehensive loss (income) are as follows:
 Pensions
Other Benefits (1)
 Year Ended December 31,
(in Millions)2024202320242023
Current year net actuarial loss (gain)$(3.8)$(12.2)$(1.4)$(1.4)
Amortization of net actuarial (loss) gain(14.2)(15.5)1.1 1.0 
Amortization of prior service (cost) credit— (0.1)— — 
Settlement loss(0.6)(0.1)— — 
Total recognized in other comprehensive (income) loss, before taxes$(18.6)$(27.9)$(0.3)$(0.4)
Total recognized in other comprehensive (income) loss, after taxes$(14.8)$(22.8)$(0.3)$(0.3)
___________________________
(1)     Refer to Note 9 to the consolidated financial statements included within this Form 10-K for information on our discontinued postretirement benefit plans.
The following table summarizes the weighted-average assumptions used for and the components of net annual benefit cost (income):
 Year Ended December 31,
 Pensions
Other Benefits (1)
(in Millions, except for percentages)202420232022202420232022
Discount rate 4.97 %5.16 %2.84 %5.40 %5.03 %2.39 %
Expected return on plan assets4.50 %4.75 %2.50 %— — — 
Rate of compensation increase3.10 %3.10 %3.10 %— — — 
Components of net annual benefit cost:
Service cost$1.8$2.6$3.6$—$—$—
Interest cost48.250.429.30.40.50.3
Expected return on plan assets(44.5)(47.5)(33.1)———
Amortization of prior service cost—0.10.2———
Amortization of net actuarial and other (gain) loss14.215.312.4(1.1)(0.9)(0.8)
Recognized (gain) loss due to curtailments, settlements, and other (2)
1.00.40.5
Net annual benefit cost (income)$20.7$21.3$12.9$(0.7)$(0.4)$(0.5)
___________________________
(1)     Refer to Note 9 to the consolidated financial statements included within this Form 10-K for information on our discontinued postretirement benefit plans.
(2)    During the year ended December 31, 2023, as a result of restructuring activities planned in connection with Project Focus, we triggered a curtailment of our U.S. pension plans. The associated curtailment expense is recorded within "Non-operating pension and postretirement charges (income)" on the consolidated statements of income (loss).
Our U.S. qualified defined benefit pension plan ("U.S. Plan") holds the majority of our pension plan assets. The expected long-term rate of return on these plan assets was 4.50 percent for the year ended December 31, 2024, 4.75 percent for the year ended December 31, 2023, and 2.50 percent for the year ended December 31, 2022. The expected long-term rate of return on these plan assets decreased by 0.25 percent in 2024 compared to 2023 primarily due to fluctuating yields on corporate bonds. In developing the assumption for the long-term rate of return on assets for our U.S. Plan, we take into consideration the technical analysis performed by our outside actuaries, including historical market returns, information on the assumption for long-term real returns by asset class, inflation assumptions and expectations for standard deviation related to these best estimates. Given an actively managed investment portfolio, the expected annual rates of return by asset class for our portfolio, assuming an estimated inflation rate of approximately 2.30 percent, is in line with our assumption for the rate of return on assets. The target asset allocation at December 31, 2024 by asset category continues to be 100 percent fixed income investments.
Our U.S. Plan is fully funded and, effective July 1, 2007, all newly hired and rehired salaried and nonunion hourly employees are not eligible for the U.S. Plan. As such, the primary investment strategy is a liability hedging approach with an objective of maintaining the funded status of the plan such that the volatility is minimized and the likelihood that we will be required to make significant contributions to the plan is also limited. The portfolio is comprised of 100 percent fixed income securities and cash. Investment performance and related risks are measured and monitored on an ongoing basis through monthly liability measurements, periodic asset liability studies, and quarterly investment portfolio reviews. We use the fair value approach for our liability-hedging asset class. This class of assets is comprised solely of fixed income securities and therefore, provides a natural hedge (liability-hedging assets) against the changes in the recorded amount of net periodic benefit cost.
The following tables present our fair value hierarchy for our major categories of pension plan assets by asset class. See Note 18 to the consolidated financial statements included within this Form 10-K for the definition of fair value and the descriptions of Level 1, 2 and 3 in the fair value hierarchy.
(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)
Cash and short-term investments$43.5 $43.5 $— $— 
Fixed income investments:
Investment contracts108.6 — 108.6 — 
U.S. Government Securities138.8 138.8 — — 
Mutual funds13.7 13.7 — — 
Corporate debt instruments658.4 — 658.4 — 
Total assets$963.0 $196.0 $767.0 $— 
(in Millions)December 31, 2023Quoted Prices
in Active
Markets for
Identical
Assets
(Level 1)		Significant
Other
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)
Cash and short-term investments$3.0 $3.0 $— $— 
Fixed income investments:
Investment contracts114.9 — 114.9 — 
U.S. Government Securities 204.6 204.6 — — 
Mutual funds 13.1 13.1 — — 
Corporate debt instruments705.7 — 705.7 — 
Total assets$1,041.3 $220.7 $820.6 $— 

We made the following contributions to our pension and other postretirement benefit plans:
  
Year Ended December 31,
(in Millions)20242023
U.S. qualified pension plan$— $— 
U.S. nonqualified pension plan4.3 1.1 
Non-U.S. plans0.3 0.1 
Other postretirement benefits0.9 1.2 
Total$5.5 $2.4 
The following table reflects the estimated future benefit payments for our pension and other postretirement benefit plans. These estimates take into consideration expected future service, as appropriate:
Estimated Net Future Benefit Payments
(in Millions)202520262027202820292030 - 2034
Pension Benefits$85.9 $85.8 $83.5 $82.6 $80.3 $375.3 
Other Benefits0.9 1.0 0.9 0.9 0.8 3.0 
FMC Corporation Savings and Investment Plan. The FMC Corporation Savings and Investment Plan is a qualified salary-reduction plan under Section 401(k) of the Internal Revenue Code in which substantially all of our U.S. employees may participate by contributing a portion of their compensation. For eligible employees participating in the Plan, except for those employees covered by certain collective bargaining agreements, the Company makes matching contributions of 80 percent of the portion of those contributions up to 5 percent of the employee’s compensation. Eligible employees participating in the Plan that do not participate in the U.S. qualified pension plan are entitled to receive an employer contribution of 5 percent of the employee’s eligible compensation. Charges against income for all contributions were $14.6 million in 2024, $19.1 million in 2023, and $17.5 million in 2022.
v3.25.0.1
Share-based Compensation
 12 Months Ended
Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Share-based Compensation Share-based Compensation
Stock Compensation Plans
We have a share-based compensation plan, which has been approved by the stockholders, for certain employees, officers and directors. This plan is described below.
FMC Corporation Incentive Compensation and Stock Plan
The FMC Corporation 2023 Incentive Stock Plan (the "Plan") was approved on April 27, 2023, and provides for the grant of a variety of cash and equity awards to officers, directors, employees and consultants, including stock options, restricted stock, performance units (including restricted stock units), stock appreciation rights, and multi-year management incentive awards payable partly in cash and partly in common stock. The Compensation and Organization Committee of the Board of Directors (the "Committee"), subject to the provisions of the Plan, approves financial targets, award grants, and the times and conditions for payment of awards to employees. The Plan replaced the FMC Corporation Incentive Compensation and Stock Plan (the "2017 Plan"), as amended and restated on April 25, 2017. The maximum number of shares of our common stock that may be issued under the Plan is based on the sum of: (i) 5.0 million shares, (ii) the number of shares remaining available for grant under the 2017 Plan (1.6 million shares), and (iii) the number of shares underlying the 2017 Plan awards that were outstanding as of April 27, 2023, to the extent those shares are recycled into the Plan (in connection with the forfeiture, termination, cancellation or expiration). Historically, forfeitures of awards have been immaterial and this population is not expected to have a significant impact on the total approved share balance. Approximately 4.6 million shares of common stock are available for future grants of share based awards under the Plan as of December 31, 2024. The FMC Corporation Non-Employee Directors’ Compensation Policy, administered by the Nominating and Corporate Governance Committee of the Board of Directors, sets forth the compensation to be paid to the directors, including stock options, stock appreciation rights, restricted stock, restricted stock units, performance-based restricted stock units, and cash awards to be made to directors under the Plan.
Stock options granted under the Plan may be incentive or nonqualified stock options. The exercise price for stock options may not be less than the fair market value of the stock at the date of grant. Awards granted under the Plan vest or become exercisable or payable at the time designated by the Committee, which has generally been three years from the date of grant. Incentive and nonqualified options granted under the Plan expire no later than 10 years from the grant date.
Under the Plan, awards of restricted stock and restricted stock units may be made to selected employees. The awards vest over periods designated by the Committee, which has generally been three years, with vesting conditional upon continued employment. Compensation cost is recognized over the vesting periods based on the market value of the stock on the date of the award. Restricted stock units granted to directors under the Plan vest immediately if granted as part of, or in lieu of, the annual retainer; other restricted stock units granted to directors vest at the Annual Meeting of Shareholders in the calendar year following the May 1 annual grant date (but are subject to forfeiture on a pro rata basis if the director does not serve the full year except under certain circumstances).
At December 31, 2024 and 2023, there were restricted stock units representing an aggregate of 207,515 shares and 173,487 shares of common stock, respectively, credited to the directors’ accounts.
Stock Compensation
We recognized the following stock compensation expense:
Year Ended December 31,
(in Millions)202420232022
Stock option expense, net of taxes of $1.6 in 2024, $1.5 in 2023 and $1.3 in 2022 (1)
$6.1 $5.9 $4.9 
Restricted stock expense, net of taxes of $2.6 in 2024, $2.4 in 2023 and $2.3 in 2022 (2)
9.8 9.0 8.5 
Performance based expense, net of taxes of $0.8 in 2024, $1.5 in 2023 and $1.5 in 2022
2.9 5.6 5.7 
Total stock compensation expense, net of taxes of $5.0 in 2024, $5.4 in 2023 and $5.1 in 2022 (3)
$18.8 $20.5 $19.1 
___________________________
(1)We applied an estimated forfeiture rate of 4.0% per stock option grant in the calculation of the expense.
(2)We applied an estimated forfeiture rate of 2.0% of outstanding restricted stock grants in the calculation of the expense.
(3)This expense is classified as "Selling, general and administrative expenses" in our consolidated statements of income (loss).

We received $0.2 million, $5.3 million and $9.4 million in cash related to stock option exercises for the years ended December 31, 2024, 2023 and 2022, respectively. The shares used for the exercise of stock options occurring during the years ended December 31, 2024, 2023 and 2022 came from treasury shares.
Stock Options
The grant-date fair values of the stock options we granted in the years ended December 31, 2024, 2023 and 2022 were estimated using the Black-Scholes option valuation model, the key assumptions for which are listed in the table below. The dividend yield assumption reflects anticipated dividends on our common stock. The expected volatility assumption is based on the actual historical experience of our common stock. The expected life represents the period of time that options granted are expected to be outstanding. The risk-free interest rate is based on U.S. Treasury securities with terms equal to the expected timing of stock option exercises as of the grant date. Employee stock options generally vest after a three year period and expire ten years from the date of grant.
Black Scholes valuation assumptions for stock option grants: 
202420232022
Expected dividend yield4.43 %1.80 %1.85 %
Expected volatility34.08 %31.99 %33.18 %
Expected life (in years)6.46.56.5
Risk-free interest rate4.26 %4.00 %1.91 %
The weighted-average grant-date fair value of options granted during the years ended December 31, 2024, 2023 and 2022 was $13.04, $42.08 and $33.53 per share, respectively.
The following summary shows stock option activity for employees under the Plan for the three years ended December 31, 2024:
(Shares in Thousands)Number of Options Granted But Not ExercisedWeighted-Average Remaining Contractual LifeWeighted-Average Exercise Price Per ShareAggregate Intrinsic Value (in Millions)
December 31, 2021 (605 shares exercisable and 622 shares expected to vest or be exercised)
1,254 6.2 years$78.95 $38.8 
Granted248 114.90 
Exercised(166)62.74 9.6 
Forfeited(31)102.32 
December 31, 2022 (672 shares exercisable and 607 shares expected to vest or be exercised)
1,305 6.1 years$87.35 $48.9 
Granted222 128.92 
Exercised(88)62.42 4.6 
Forfeited(43)114.15 
December 31, 2023 (824 shares exercisable and 551 shares expected to vest or be exercised)
1,396 5.6 years$94.73 $1.6 
Granted1,181 52.50 
Exercised(5)36.85 — 
Forfeited(101)79.32 
December 31, 2024 (1,299 shares exercisable and 1,098 shares expected to vest or be exercised)
2,471 6.3 years$75.28 $0.5 


The number of stock options indicated in the above table as being exercisable as of December 31, 2024, had an intrinsic value of $0.5 million, a weighted-average remaining contractual term of 4.0 years, and a weighted-average exercise price of $83.03.
As of December 31, 2024, we had total remaining unrecognized compensation cost related to unvested stock options of $9.8 million which will be amortized over the weighted-average remaining requisite service period of approximately 1.7 years.
Restricted and Performance Based Equity Awards
The grant-date fair value of restricted stock awards and stock units under the Plan is based on the market price per share of our common stock on the date of grant. The related compensation cost is amortized to expense on a straight-line basis over the vesting period during which the employees perform related services, which is typically three years except for those eligible for retirement prior to the stated vesting period as well as non-employee directors.
We grant performance based share awards which represent a target number of shares of common stock to be awarded upon settlement based on the achievement of certain performance metrics. The primary performance metric is based on a total shareholder return ("TSR") relative to peer companies over a three year period. The secondary performance metric is based on a three year cumulative operating cash flow metric. Beginning in 2024, the secondary performance metric for new grants is based on the average return on invested capital for each of the three years in the measurement period. The fair value of the equity classified performance-based share awards is determined based on the number of shares of common stock expected to be awarded and a Monte Carlo valuation model.
The following table shows our employee restricted award activity for the three years ended December 31, 2024:
Restricted EquityPerformance Based Equity
(Number of Awards in Thousands)
Number of
awards
Weighted-Average Grant Date Fair Value Per ShareNumber of
awards		Weighted-Average Grant Date Fair Value Per Share
Nonvested at December 31, 2021270 $89.56 195 $96.18 
Granted103 114.50 45 140.32 
Vested(102)77.80 (102)83.74 
Forfeited(14)102.64 (2)125.60 
Nonvested at December 31, 2022257 $104.54 136 $120.47 
Granted118 110.71 81 137.18 
Vested(78)93.32(58)108.57
Forfeited(15)114.88 (6)136.25 
Nonvested at December 31, 2023282 $109.67 153 $131.60 
Granted297 53.41 105 50.01 
Vested(99)100.69 (15)100.63 
Forfeited(22)86.19 (7)62.06 
Nonvested at December 31, 2024458 $76.34 236 $85.65 
As of December 31, 2024, we had total remaining unrecognized compensation cost related to unvested restricted awards of $16.9 million which will be amortized over the weighted-average remaining requisite service period of approximately 1.7 years.
v3.25.0.1
Equity
 12 Months Ended
Dec. 31, 2024
Equity [Abstract]  
Equity Equity
The following is a summary of our capital stock activity over the past three years:
Common
Stock Shares
Treasury
Stock Shares
December 31, 2021185,983,792 60,284,313 
Stock options and awards— (286,805)
Repurchases of common stock, net— 875,480 
December 31, 2022185,983,792 60,872,988 
Stock options and awards— (301,008)
Repurchases of common stock, net— 651,052 
December 31, 2023185,983,792 61,223,032 
Stock options and awards— (122,288)
Repurchases of common stock, net— 42,146 
December 31, 2024185,983,792 61,142,890 
Accumulated other comprehensive income (loss)
Summarized below is the roll forward of accumulated other comprehensive income (loss), net of tax.
(in Millions)Foreign currency adjustments
Derivative Instruments (1)
Pension and other postretirement benefits (2)
Total
Accumulated other comprehensive income (loss), net of tax at December 31, 2021$(62.5)5.2$(22.2)$(240.8)$(325.5)
2022 Activity
Other comprehensive income (loss) before reclassifications$(102.2)$(65.4)$(15.7)$(183.3)
Amounts reclassified from accumulated other comprehensive income (loss)4.2 35.9 9.1 49.2 
Accumulated other comprehensive income (loss), net of tax at December 31, 2022$(160.5)$(51.7)$(247.4)$(459.6)
2023 Activity
Other comprehensive income (loss) before reclassifications$29.2 $(72.4)$11.4 $(31.8)
Amounts reclassified from accumulated other comprehensive income (loss)— 73.9 11.0 84.9 
Accumulated other comprehensive income (loss), net of tax at December 31, 2023$(131.3)$(50.2)$(225.0)$(406.5)
2024 Activity
Other comprehensive income (loss) before reclassifications$(52.6)$33.2 $4.9 $(14.5)
Amounts reclassified from accumulated other comprehensive income (loss)— (0.5)10.9 10.4 
Accumulated other comprehensive income (loss), net of tax at December 31, 2024$(183.9)$(17.5)$(209.2)$(410.6)
___________________________
(1)See Note 18 to the consolidated financial statements included within this Form 10-K for more information.
(2)See Note 13 to the consolidated financial statements included within this Form 10-K for more 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 on 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 on the Consolidated Statements of Income (Loss)
Year Ended December 31,
(in Millions)202420232022
Foreign currency translation adjustments:
Exit from Russian Operations (2)
$— $— $(4.2)Restructuring and other charges (income)
Derivative instruments:
Gain (loss) on foreign currency contracts$3.0 $(110.5)$(57.5)Costs of sales and services
Gain (loss) on foreign currency contracts— 7.3 6.5 Selling, general and administrative expenses
Gain (loss) on interest rate contracts(1.9)(2.4)(4.0)Interest expense, net
Total before tax$1.1 $(105.6)$(55.0)
(0.6)31.7 19.1 Provision for income taxes
Amount included in net income$0.5 $(73.9)$(35.9)
Pension and other postretirement benefits (3):
Amortization of prior service costs$— $(0.1)$(0.1)Selling, general and administrative expenses
Amortization of unrecognized net actuarial and other gains (losses)(12.7)(13.8)(10.9)Non-operating pension and postretirement charges (income)
Recognized loss due to curtailment and settlement(1.0)— (0.5)Non-operating pension and postretirement charges (income); Discontinued operations, net of income taxes
Total before tax$(13.7)$(13.9)$(11.5)
2.8 2.9 2.4 Provision for income taxes; Discontinued operations, net of income taxes
Amount included in net income$(10.9)$(11.0)$(9.1)
Total reclassifications for the period$(10.4)$(84.9)$(49.2)Amount included in net income
___________________________
(1)Amounts in parentheses indicate charges to the consolidated statements of income (loss).
(2)The reclassification of historical cumulative translation adjustments was the result of the exit from our Russian operations. See Note 7 within these consolidated financial statements for more information.
(3)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 13 to the consolidated financial statements included within this Form 10-K.
Dividends and Share Repurchases
On January 16, 2025, we paid dividends totaling $72.6 million to our shareholders of record as of December 31, 2024. This amount is included in "Accrued and other liabilities" on the consolidated balance sheets as of December 31, 2024. For the years ended December 31, 2024, 2023 and 2022, we paid $290.6 million, $290.5 million and $267.5 million in dividends, respectively.
In February 2022, the Board of Directors authorized the repurchase of up to $1 billion of the Company's common stock. In connection with an amendment to the Company's credit agreement in November 2023, the Company agreed that it will not repurchase shares, with the exception of share repurchases under our equity compensation plans. Therefore, there were no share repurchases under the publicly announced repurchase program during 2024. As part of the amendments entered into in February 2025 and described in Note 12 to the consolidated financial statements, the Company agreed that it will not repurchase shares until December 31, 2027. At December 31, 2024, approximately $825 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. Share repurchases in excess of issuances are subject to a 1% excise tax imposed by the 2022 Inflation Reduction Act. This tax is included as part of the cost basis of the shares acquired.
v3.25.0.1
Leases
 12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
Leases Leases
We lease office space, vehicles and other equipment under non-cancellable leases with initial terms typically ranging from 1 to 20 years, with some leases having terms greater than 20 years. Our lease portfolio includes agreements with renewal options, purchase options and clauses for early termination based on the terms specific to the agreement.
At contract inception, we review the facts and circumstances of the arrangement to determine if the contract is a lease. We follow the guidance in ASC 842-10-15 and consider the following: whether the contract has an identified asset; if we have the right to obtain substantially all economic benefits from the asset; and if we have the right to direct the use of the underlying asset. All leased assets are classified as operating or finance under ASC 842.
To determine the present value of future minimum lease payments, we use the implicit rate when readily determinable or our incremental borrowing rate at the lease commencement date. When determining our incremental borrowing rate, we consider our centralized treasury function and our current credit profile. We then make adjustments to this rate for securitization, the length of the lease term, and leases denominated in foreign currencies. Minimum lease payments are expensed over the term of the lease on a straight-line basis. Some leases may require additional contingent or variable lease payments based on factors specific to the individual agreement. Variable lease payments for which we are typically responsible include payment of vehicle insurance, real estate taxes, and maintenance expenses.
Most leases within our portfolio are classified as operating leases under the new standard. Operating leases are included in "Other assets including long-term receivables, net", "Accrued and other liabilities", and "Other long-term liabilities" in our consolidated balance sheet. Operating lease right-of-use ("ROU") assets are subsequently measured throughout the lease term at the carrying amount of the lease liability, plus initial direct costs, plus (minus) any prepaid (accrued) lease payments, less the unamortized balance of any lease incentives received. Lease expense for lease payments is recognized on a straight-line basis over the lease term.
Operating leases relate to office spaces, IT equipment, transportation equipment, machinery equipment, furniture and fixtures, and plant and facilities under non-cancellable lease agreements. Leases primarily have fixed rental periods, with many of the real estate leases requiring additional payments for property taxes and occupancy-related costs. Leases for real estate typically have initial terms ranging from 1 to 20 years, with some leases having terms greater than 20 years. Leases for non-real estate (transportation, IT) typically have initial terms ranging from 1 to 10 years. We have elected not to record short-term leases on the balance sheet whose term is 12 months or less and does not include a purchase option or extension that is reasonably certain to be exercised.
We rent or sublease a small number of assets including equipment and office space to third-party companies. These third-party arrangements include a small number of transition service arrangements from recent acquisitions. Rental income from all subleases is not material to our business.
The ROU asset and lease liability balances as of December 31, 2024 and 2023 were as follows:
(in Millions)ClassificationDecember 31, 2024December 31, 2023
Assets
Operating lease ROU assetsOther assets including long-term receivables, net$110.4 $121.8 
Liabilities
Operating lease current liabilitiesAccrued and other liabilities$24.5 $24.4 
Operating lease noncurrent liabilitiesOther long-term liabilities106.1 123.2 
The components of lease expense for the year ended December 31, 2024, 2023, and 2022 were as follows:
(in Millions)Lease Cost Classification202420232022
Lease Cost
Operating lease costCosts of sales and services / Selling, general and administrative expenses$36.1 $33.2 $32.9 
Variable lease costCosts of sales and services / Selling, general and administrative expenses12.6 13.3 6.3 
Total lease cost$48.7 $46.5 $39.2 
December 31, 2024
Operating Lease Term and Discount Rate
Weighted-average remaining lease term (years)6.5
Weighted-average discount rate4.8 %
(in Millions)Year ended December 31, 2024Year ended December 31, 2023
Other Information
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$(41.2)$(35.9)
Supplemental non-cash information on lease liabilities arising from obtaining right-of-use assets:
Right-of-use assets obtained in exchange for new operating lease liabilities$14.2 $21.4 
The following table represents our future minimum operating lease payments as of, and subsequent to, December 31, 2024 under ASC 842:
(in Millions) Operating Leases Total
Maturity of Lease Liabilities
2025$29.8 
202625.3 
202722.3 
202818.6 
202917.0 
Thereafter39.7 
Total undiscounted lease payments$152.7 
Less: Present value adjustment(22.1)
Present value of lease liabilities$130.6 
v3.25.0.1
Earnings Per Share
 12 Months Ended
Dec. 31, 2024
Earnings Per Share [Abstract]  
Earnings Per Share Earnings Per Share
Earnings per common share ("EPS") is computed by dividing net income by the weighted average number of common shares outstanding during the period on a basic and diluted basis.
Our potentially dilutive securities include potential common shares related to our stock options, restricted stock and restricted stock units. Diluted earnings per share ("Diluted EPS") considers the impact of potentially dilutive securities except in periods in which there is a loss because the inclusion of the potential common shares would have an antidilutive effect. Diluted EPS excludes the impact of potential common shares related to our stock options in periods in which the option exercise price is greater than the average market price of our common stock for the period. For the years ended December 31, 2024, 2023 and 2022 there were 2.1 million, 0.7 million and 0.4 million potential common shares excluded from Diluted EPS, respectively.
Our non-vested restricted stock awards contain rights to receive non-forfeitable dividends, and thus, are participating securities requiring the two-class method of computing EPS. The two-class method determines EPS by dividing the sum of distributed earnings to common stockholders and undistributed earnings allocated to common stockholders by the weighted average number of shares of common stock outstanding for the period. In calculating the two-class method, undistributed earnings are allocated to both common shares and participating securities based on the weighted average shares outstanding during the period.
Earnings applicable to common stock and common stock shares used in the calculation of basic and diluted earnings per share are as follows:
(in Millions, Except Share and Per Share Data)Year Ended December 31,
202420232022
Earnings (loss) attributable to FMC stockholders:
Continuing operations, net of income taxes$402.9 $1,420.0 $833.7 
Discontinued operations, net of income taxes(61.8)(98.5)(97.2)
Net income (loss) attributable to FMC stockholders$341.1 $1,321.5 $736.5 
Less: Distributed and undistributed earnings allocable to restricted award holders(1.2)(2.7)(1.7)
Net income (loss) allocable to common stockholders$339.9 $1,318.8 $734.8 
Basic earnings (loss) per common share attributable to FMC stockholders:
Continuing operations$3.22 $11.34 $6.60 
Discontinued operations(0.49)(0.79)(0.77)
Net income (loss)$2.73 $10.55 $5.83 
Diluted earnings (loss) per common share attributable to FMC stockholders:
Continuing operations$3.21 $11.31 $6.58 
Discontinued operations(0.49)(0.78)(0.77)
Net income (loss)$2.72 $10.53 $5.81 
Shares (in thousands):
Weighted average number of shares of common stock outstanding - Basic125,004 125,060 125,975 
Weighted average additional shares assuming conversion of potential common shares354 473 732 
Shares – diluted basis125,358 125,533 126,707 
v3.25.0.1
Financial Instruments, Risk Management and Fair Value Measurements
 12 Months Ended
Dec. 31, 2024
Fair Value Disclosures [Abstract]  
Financial Instruments, Risk Management and Fair Value Measurements Financial Instruments, Risk Management and Fair Value Measurements
Our financial instruments include cash and cash equivalents, trade receivables, other current assets, certain receivables classified as other long-term assets, accounts payable, and amounts included in investments and certain accruals. The carrying value of these financial instruments approximates their fair value. Our other financial instruments include the following:
Financial InstrumentValuation Method
Foreign exchange forward contractsEstimated 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 and option contractsEstimated amounts that would be received or paid to terminate the contracts at the reporting date based on quoted market prices for applicable commodities.
DebtOur 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.
The estimated fair value of the financial instruments in the above table have been determined using standard pricing models which take into account the present value of expected future cash flows discounted to the balance sheet date. These standard pricing models utilize inputs derived from, or corroborated by, observable market data such as interest rate yield curves and currency and commodity spot and forward rates. In addition, we test a subset of our valuations against valuations received from the transaction's counterparty to validate the accuracy of our standard pricing models. Accordingly, the estimates presented may not be indicative of the amounts that we would realize in a market exchange at settlement date and do not represent potential gains or losses on these agreements. The estimated fair values of foreign exchange forward contracts, commodity forward and option contracts, and interest rate contracts are included in the tables within this Note. The estimated fair value of debt is $3,223.6 million and $3,988.2 million and the carrying amount is $3,365.3 million and $3,957.6 million as of December 31, 2024 and 2023, respectively.
Use of Derivative Financial Instruments to Manage Risk
We mitigate certain financial exposures, including currency risk, commodity purchase exposures and interest rate risk through a program of risk management that includes the use of derivative financial instruments. We enter into foreign exchange contracts, including forward and purchased option contracts, to reduce the effects of fluctuating foreign currency exchange rates.
Foreign Currency Exchange Risk Management
We conduct business in many foreign countries, exposing earnings, cash flows, and our financial position to foreign currency risks. The majority of these risks arise as a result of foreign currency transactions. Our policy is to minimize exposure to adverse changes in currency exchange rates. This is accomplished through a controlled program of risk management that includes the use of foreign currency debt and forward foreign exchange contracts. We also use forward foreign exchange contracts to hedge firm and highly anticipated foreign currency cash flows, with an objective of balancing currency risk to provide adequate protection from significant fluctuations in the currency markets.

The primary currencies for which we have exchange rate exposure are the U.S. dollar versus the Brazilian real, Chinese yuan, Indian rupee, euro, Mexican peso and Argentine peso.
Commodity Price Risk
We are exposed to risks in energy costs due to fluctuations in energy prices, including natural gas, electricity, and other commodities. We attempt to mitigate our exposure to increasing energy costs by entering into physical and financial derivative contracts to hedge the cost of future deliveries of our commodities.
Interest Rate Risk
We use various strategies to manage our interest rate exposure, including entering into interest rate swap agreements to achieve a targeted mix of fixed and variable-rate debt. In the agreements we exchange, at specified intervals, the difference between fixed and variable-interest amounts calculated on an agreed-upon notional principal amount.
Concentration of Credit Risk
Our counterparties to derivative contracts are primarily major financial institutions. We limit the dollar amount of contracts entered into with any one financial institution and monitor counterparties’ credit ratings. We also enter into master netting agreements with each financial institution, where possible, which helps mitigate the credit risk associated with our financial instruments. While we may be exposed to credit losses due to the nonperformance of counterparties, we consider this risk remote.
Financial Guarantees and Letter-of-Credit Commitments
We enter into various financial instruments with off-balance sheet risk as part of the normal course of business. These off-balance sheet instruments include financial guarantees and contractual commitments to extend financial guarantees under letters of credit and other assistance to customers. See Notes 1 and 19 to the consolidated financial statements included within this Form 10-K for more information. Decisions to extend financial guarantees to customers, and the amount of collateral required under these guarantees, is based on our evaluation of creditworthiness on a case-by-case basis.

Accounting for Derivative Instruments and Hedging Activities
Cash Flow Hedges
As of December 31, 2024, we had open foreign currency forward contracts in AOCI in a net after-tax gain position of $12.1 million designated as cash flow hedges of underlying forecasted sales and purchases. Current open contracts hedge forecasted transactions until December 31, 2025. At December 31, 2024, we had open forward contracts with various expiration dates to buy, sell or exchange foreign currencies with a U.S. dollar equivalent of approximately $654.2 million.
At December 31, 2024 we had no interest rate swap contracts.
In prior periods, we settled on various interest rate swap agreements related to several debt issuances and recorded gains (losses) in other comprehensive income, which is also being amortized over the life of those debt instruments. As of December 31, 2024, there was a remaining net after-tax loss of $26.2 million in AOCI related to these settlements.
As of December 31, 2024, we had no open commodity contracts in AOCI designated as cash flow hedges of underlying forecasted purchases. At December 31, 2024, we had no mmBTUs (millions of British Thermal Units) in aggregate notional volume of outstanding natural gas commodity forward contracts.
Approximately $12.1 million of net after-tax gains, representing open foreign currency exchange contracts will be realized in earnings during the twelve months ending December 31, 2025 if spot rates in the future are consistent with forward rates as of December 31, 2024. The actual effect on earnings will be dependent on the actual spot rates when the forecasted transactions occur. We recognize derivative gains and losses in the "Costs of sales and services" line on the consolidated statements of income (loss).
 
Derivatives Not Designated As Hedging Instruments
We hold certain forward contracts that have not been designated as cash flow hedging instruments for accounting purposes. Contracts used to hedge the exposure to foreign currency fluctuations associated with certain monetary assets and liabilities are not designated as cash flow hedging instruments, and changes in the fair value of these items are recorded in earnings.
We had open forward contracts not designated as cash flow hedging instruments for accounting purposes with various expiration dates to buy, sell or exchange foreign currencies with a U.S. dollar equivalent of approximately $3,195.0 million at December 31, 2024.
Fair Value of Derivative Instruments
The following tables provide the gross fair value and net balance sheet presentation of our derivative instruments as of December 31, 2024 and 2023:
December 31, 2024
Gross Amount of Derivatives
(in Millions)Designated as Cash Flow HedgesNot Designated as Hedging InstrumentsTotal Gross AmountsGross Amounts Subject to Master Netting ArrangementsNet Amounts
Derivatives
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 
December 31, 2023
Gross Amount of Derivatives
(in Millions)Designated as Cash Flow HedgesNot Designated as Hedging InstrumentsTotal Gross AmountsGross Amounts Subject to Master Netting ArrangementsNet Amounts
Derivatives
Foreign exchange contracts$2.7 $3.0 $5.7 $(5.5)$0.2 
Total derivative assets (1)
$2.7 $3.0 $5.7 $(5.5)$0.2 
Foreign exchange contracts$(9.7)$(7.4)$(17.1)$5.5 $(11.6)
Total derivative liabilities (2)
$(9.7)$(7.4)$(17.1)$5.5 $(11.6)
Net derivative assets (liabilities)$(7.0)$(4.4)$(11.4)$— $(11.4)
____________________
(1)    Balance is included in "Prepaid and other current assets" on the consolidated balance sheets.
(2)    Balance is included in "Accrued and other liabilities" on the consolidated balance sheets.
The following tables 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
(in Millions)Foreign exchangeInterest rateTotal
Accumulated other comprehensive income (loss), net of tax at December 31, 2021$31.1 $(53.3)$(22.2)
2022 Activity
Unrealized hedging gains (losses) and other, net of tax$(86.3)$20.9 $(65.4)
Reclassification of deferred hedging (gains) losses, net of tax (1)
32.8 3.1 35.9 
Total derivative instrument impact on comprehensive income, net of tax$(53.5)$24.0 $(29.5)
Accumulated other comprehensive income (loss), net of tax at December 31, 2022$(22.4)$(29.3)$(51.7)
2023 Activity
Unrealized hedging gains (losses) and other, net of tax$(72.0)$(0.4)$(72.4)
Reclassification of deferred hedging (gains) losses, net of tax (1)
72.0 1.9 73.9 
Total derivative instrument impact on comprehensive income, net of tax$— $1.5 $1.5 
Accumulated other comprehensive income (loss), net of tax at December 31, 2023$(22.4)$(27.8)$(50.2)
2024 Activity
Unrealized hedging gains (losses) and other, net of tax$33.2 $— $33.2 
Reclassification of deferred hedging (gains) losses, net of tax (1)
(2.1)1.6 (0.5)
Total derivative instrument impact on comprehensive income, net of tax$31.1 $1.6 $32.7 
Accumulated other comprehensive income (loss), net of tax at December 31, 2024$8.7 $(26.2)$(17.5)
___________________________
(1)Amounts are included in "Costs of sales and services", "Selling, general and administrative expenses", and "Interest expense" on the consolidated statements of income (loss).

Derivatives Not Designated as Hedging Instruments
Amount of Pre-tax Gain (Loss) 
Recognized in Income on Derivatives (1)
Year Ended December 31,
(in Millions)202420232022
Foreign exchange contracts$(6.1)$(33.7)$(37.2)
Total$(6.1)$(33.7)$(37.2)
___________________________
(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).

Fair Value Measurements
Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Market participants are defined as buyers or sellers in the principle or most advantageous market for the asset or liability that are independent of the reporting entity, knowledgeable and able and willing to transact for the asset or liability.

Fair Value Hierarchy
We have categorized our assets and liabilities that are recorded at fair value, based on the priority of the inputs to the valuation technique, into a three-level fair value hierarchy. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). If the inputs used to measure the assets and liabilities fall within different levels of the hierarchy, the categorization is based on the lowest level input that is significant to the fair value measurement of the instrument.
Recurring Fair Value Measurements
The following tables present our fair value hierarchy for those assets and liabilities measured at fair value on a recurring basis in our consolidated balance sheets:
(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 $— 
Derivatives - Interest Rate (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)
$— $— $— $— 
Derivatives - Interest Rate (1)
— — — — 
Other (2)
23.2 23.2 — — 
Total Liabilities$23.2 $23.2 $— $— 
(in Millions)December 31, 2023
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)
$0.2 $— $0.2 $— 
Derivatives - Interest Rate (1)
— — — — 
Other (2) (3)
47.1 23.8 — 23.3 
Total Assets$47.3 $23.8 $0.2 $23.3 
Liabilities
Derivatives – Foreign exchange (1)
$11.6 $— $11.6 $— 
Derivatives - Interest Rate (1)
— — — — 
Other (2)
24.4 24.4 — — 
Total Liabilities$36.0 $24.4 $11.6 $— 
____________________
(1)See the Fair Value of Derivative Instruments table within this Note for classifications on our consolidated balance sheets.
(2)Includes a deferred compensation arrangement, through which we hold various investment securities, recognized on our balance sheet. Both the asset and liability are recorded at fair value. Asset amounts included in "Other assets including long-term receivables, net" on the consolidated balance sheets. Liability amounts are included in "Other long-term liabilities" on 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. Asset amounts are included in "Other assets including long-term receivables, net" on 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.

Nonrecurring Fair Value Measurements
There were no non-recurring fair value measurements on the consolidated balance sheets during the periods presented.
v3.25.0.1
Guarantees, Commitments and Contingencies
 12 Months Ended
Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]  
Guarantees, Commitments, and Contingencies Guarantees, Commitments and Contingencies
We continue to monitor the conditions that are subject to guarantees and indemnifications to identify whether a liability must be recognized in our financial statements.
The following table provides the estimated undiscounted amount of potential future payments for each major group of guarantees at December 31, 2024. These guarantees arise during the ordinary course of business from relationships with customers and nonconsolidated affiliates. Non-performance by the guaranteed party triggers the obligation requiring us to make payments to the beneficiary of the guarantee. Based on our experience these types of guarantees have not had a material effect on our consolidated financial position or on our liquidity. Our expectation is that future payment or performance related to the non-performance of others is considered unlikely.
(in Millions)
Guarantees:
Guarantees of vendor financing - short term (1)
$85.5 
Other debt guarantees (2)
72.4 
Total$157.9 
____________________
(1)Represents guarantees to financial institutions on behalf of certain customers for their seasonal borrowing. The short-term amount is recorded as "Guarantees of vendor financing" on the consolidated balance sheets.
(2)These guarantees represent the outstanding commitment provided to third-party banks for credit extended to various direct and indirect customers and nonconsolidated affiliates. The liability for the guarantees is recorded at an amount that approximates fair value (i.e. representing the stand-ready obligation) based on our historical collection experience and a current assessment of credit exposure. Historically, the fair value of these guarantees has been and continues to be in the current reporting period, immaterial and the majority of these guarantees have had an expiration date of less than one year.

Excluded from the chart above are parent-company guarantees we provide to lending institutions that extend credit to our foreign subsidiaries. Since these guarantees are provided for consolidated subsidiaries, the consolidated financial position is not affected by the issuance of these guarantees. Also excluded from the chart, in connection with our property and asset sales and divestitures, we have agreed to indemnify the buyer for certain liabilities, including environmental contamination and taxes that occurred prior to the date of sale or provided guarantees to third parties relating to certain contracts assumed by the buyer. Our indemnification or guarantee obligations with respect to certain liabilities may be indefinite as to duration and may or may not be subject to a deductible, minimum claim amount or cap. As such, it is not possible for us to predict the likelihood that a claim will be made or to make a reasonable estimate of the maximum potential loss or range of loss. Therefore, we have not recorded any specific liabilities for these guarantees. If triggered, we may be able to recover some of the indemnity payments from third parties. For certain obligations related to our divestitures for which we can make a reasonable estimate of the maximum potential loss or range of loss and is probable, a liability in those instances has been recorded.

Commitments
Purchase Obligations
Our minimum commitments under our take-or-pay purchase obligations associated with the sourcing of materials and energy total approximately $288.1 million as of December 31, 2024. Since the majority of our minimum obligations under these contracts are over the life of the contract on a year-by-year basis, we are unable to determine the periods in which these obligations could be payable under these contracts. However, we intend to fulfill the obligations associated with these contracts through our purchases associated with the normal course of business.
Contingencies
Securities Litigation. Beginning on November 9, 2023, several purported FMC shareholders filed putative class action complaints in the U.S. District Court for the Eastern District of Pennsylvania (the “E.D.P.A”) and named as defendants FMC and certain of its current and former executives, asserting claims under the federal securities laws. The various actions were consolidated in an action captioned, In re FMC Corporation Securities Litigation, No. 2:23-cv-04398-KNS (E.D.P.A.) (the “Consolidated Securities Class Action”). On July 17, 2024, the Lead Plaintiff filed an amended consolidated complaint, alleging that the defendants in the Consolidated Securities Class Action made certain material misstatements and omissions regarding FMC’s business, operations, and prospects, including with respect to, among other things: (1) the alleged diminishment of patent protection for flagship products in certain markets, including India, China, and Brazil; (2) the status of proceedings related to FMC’s patent protection efforts; (3) the alleged extent of generic competition with FMC’s products; (4) allegedly overstocked inventory channels; and (5) the alleged extent of industry consolidation among retailers and distributors and the impact thereof on FMC’s business. The complaint alleges violations of Section 10(b) of the Securities Exchange Act of 1934 (“Exchange Act”) and Rule 10b-5 promulgated thereunder, as well as Section 20(a) of the Exchange Act. The complaint seeks unspecified damages and other relief on behalf of all persons and entities who purchased or otherwise acquired FMC stock during the putative class period, between February 9, 2022 and October 30, 2023. Defendants in the Consolidated Securities Class Action moved to dismiss the complaint on September 17, 2024, and the motion remains pending.
On February 13, 2025 and February 14, 2025, two other purported FMC shareholders filed putative class action complaints in the E.D.P.A. against FMC and certain of its former and current executives, respectively captioned Mohammed v. FMC Corporation, et al. and Macomb County Employees’ Retirement System and Macomb County Retirement Health Care Fund v. FMC Corporation, et al. (the “Mohammed and Macomb County Actions”). The complaints generally allege that FMC made misrepresentations regarding its business, operations, and prospects, including allegations that the defendants failed to disclose: (1) that channel inventory management initiatives were not progressing as anticipated; (2) challenges arising from product pricing; and/or (3) the financial impact of cost-plus pricing arrangements with distributors. The complaints allege violations of Section 10(b) of the Exchange Act and Rule 10b-5 promulgated thereunder, as well as Section 20(a) of the Exchange Act, and seek unspecified damages and other relief on behalf of all persons and entities who purchased or otherwise acquired FMC stock during the period from November 16, 2023 to February 4, 2025.
Derivative Litigation. On January 23, 2025, a purported FMC shareholder filed a derivative action on behalf of FMC in the E.D.P.A. captioned Menke v. FMC Corporation, et al., 2:25-cv-404 (E.D.P.A) (the “Derivative Action”). The derivative complaint alleges, among other things, that certain current and former FMC officers and directors breached their fiduciary duties to FMC, and engaged in other purported misconduct, based on the same purported misstatements and omissions alleged in the Consolidated Securities Class Action.
Defendants in the Consolidated Securities Class Action, the Mohammed and Macomb County Actions, and the Derivative Action believe the claims against them are without merit and intend to defend themselves vigorously.
Asbestos claims. Like hundreds of other industrial companies, we have been named as one of many defendants in asbestos-related personal injury litigation. Most of these cases allege personal injury or death resulting from exposure to asbestos in premises of FMC or to asbestos-containing components installed in machinery or equipment manufactured or sold by discontinued operations.
We intend to continue managing these asbestos-related cases in accordance with our historical experience. We have established a reserve for this litigation within our discontinued operations and believe that any exposure of a loss in excess of the established reserve cannot be reasonably estimated. Our experience has been that the overall trends in asbestos litigation have changed over time. Over the last several years, we have seen changes in the jurisdictions where claims against FMC are being filed and changes in the mix of products named in the various claims. Because these claim trends have yet to form a predictable pattern, we are presently unable to reasonably estimate our asbestos liability with respect to claims that may be filed in the future.
Paraquat cases. Along with Chevron USA and Syngenta AG, FMC has been named in approximately 1,100 cases pending in the Philadelphia Court of Common Pleas Mass Tort Program. In general, plaintiffs allege they were exposed to paraquat, and as a result of this exposure, they developed disease or other health conditions. Chevron and Syngenta (or their predecessors) were registrants of paraquat products in the United States. FMC is not aware of ever having registered any paraquat product in the United States. FMC believes the Company has meritorious defenses and intends to defend itself vigorously. The Court in Philadelphia has set a series of bellwether trial dates throughout 2025. FMC has been dismissed from the first trial case.
Currenta explosion. On July 27, 2021, an explosion occurred at a waste incineration plant located in Leverkusen, Germany that is owned and operated by Currenta GmbH & Co. OHG (“Currenta”). The cause of the explosion remains under investigation. On July 29, 2024, FMC was served with a US District Court of Delaware Complaint regarding the Currenta (Germany) site explosion. The Complaint was filed by HDI Global SE, XL Insurance Company SE, Direktion für Deutschland, SwissRe International SE, Starr Europe Insurance limited, Vienna Insurance Group and QBE Re (Europe Ltd.) (“Currenta’s Insurers”) and named FMC Corporation as a defendant. The Complaint alleged that it was FMC’s negligence which led to the explosion. Currenta’s Insurers claim that they have paid Currenta over 200 million EUR, which they are seeking to recover. On September 27, 2024, FMC filed a Motion to Dismiss the Complaint. Rather than opposing FMC’s Motion, Currenta’s Insurers voluntarily dismissed the action on October 15, 2024.
On November 29, 2024, Currenta’s Insurers served a Statement of Claim to FMC’s Ronland manufacturing facility, filed in Germany, against FMC Agricultural Solutions A/S (a/k/a Cheminova A/S) (“FMC A/S”), seeking to recover the amounts allegedly paid to Currenta. The allegations are similar to those filed in the Delaware action. On December 10, 2024, FMC A/S was served with a Statement of Claim, filed in Germany, brought by Currenta. Currenta alleges 146 million EUR in damages arising from the Currenta site explosion. Subsequently, AVG Abfall-Verwertungs-Gesellschaft mbH (“AVG”), a waste management company retained by FMC A/S to assist with disposing the waste at issue, has been named as an additional defendant in both actions. FMC believes the Company has meritorious defenses in both cases and intends to defend itself vigorously.
Other contingent liabilities. In addition to the matters disclosed above, we have certain other contingent liabilities arising from litigation, claims, products we have sold, guarantees or warranties we have made, contracts we have entered into, indemnities we have provided, and other commitments or obligations incident to the ordinary course of business.
In Brazil, we are subject to claims from various governmental agencies regarding alleged additional indirect (non-income) taxes or duties as well as product liability matters and labor cases related to our operations. These disputes take many years to resolve as the matters move through administrative or judicial courts. We have provided reserves for such Brazilian matters that we consider probable and for which a reasonable estimate of the obligation can be made in the amount of $2.3 million and $5.8 million as of December 31, 2024 and 2023, respectively. The aggregate estimated reasonably possible loss contingencies related to such Brazilian matters exceed amounts accrued by approximately $74.6 million at December 31, 2024. We defend these cases vigorously through to final judgment at the final level of adjudication. This reasonably possible estimate is based upon information available as of the date of the filing and the actual future losses may be higher given the uncertainties regarding the ultimate decision by administrative or judicial authorities in Brazil.
In India, we are subject to audits or other proceedings by tax authorities regarding certain alleged additional indirect taxes related to our operations. Indian tax authorities have begun auditing or investigating many companies, including our FMC subsidiary in India, on the goods and service tax ("GST") indirect tax law which came into force in 2017. Such proceedings and potential future litigations, in which the tax authorities are challenging the technical tax position taken by the Company, take many years to resolve as the matters are heard and decided upon by tax authorities or courts. We have provided reserves for such historical Indian tax matters that we consider probable and a reasonable estimate of the obligation as of December 31, 2024 was approximately $12.2 million. The timing and amount of the remaining obligations will vary based on final negotiations and the reserve will be reduced as these payments are made.
Regarding other contingencies arising from operations, some of these contingencies are known - for example pending product liability litigation or claims - but are so preliminary that the merits cannot be determined, or if more advanced, are not deemed material based on current knowledge. Some contingencies are unknown - for example, claims with respect to which we have no notice or claims which may arise in the future, resulting from products we have sold, guarantees or warranties we have made, or indemnities we have provided. Therefore, we are unable to develop a reasonable estimate of our potential exposure of loss for these contingencies, either individually or in the aggregate, at this time. Based on information currently available and established reserves, we have no reason to believe that the ultimate resolution of our known contingencies, including the matters described in this Note, will have a material adverse effect on our consolidated financial position, liquidity or results of operations. However, there can be no assurance that the outcome of these contingencies will be favorable, and adverse results in certain of these contingencies could have a material adverse effect on our consolidated financial position, results of operations in any one reporting period, or liquidity.
See Note 10 to the consolidated financial statements included within this Form 10-K for the Portland Harbor site for legal proceedings associated with our environmental contingencies.
v3.25.0.1
Segment Information
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Segment Information Segment Information
As discussed in Note 1 to the consolidated financial statements included within this Form 10-K, we operate as a single business segment providing innovative solutions to growers around the world with a robust product portfolio fueled by a market-driven discovery and development pipeline in crop protection and plant health.
We have determined that the Chief Executive Officer (the “CEO”) serves as the Chief Operating Decision Maker ("CODM") for the Company. The determination of a single segment is consistent with the financial information regularly reviewed by the CEO for purposes of evaluating performance, allocating resources, setting incentive compensation targets and both planning and forecasting future periods. The CEO reviews consolidated net income (loss) as a key performance measure of profit (loss) for the Company’s single segment and reviews significant expenses, if relevant, on a consolidated basis consistent with the presentation on the consolidated statements of income (loss).
The CEO’s review is focused on consolidated results for the Company. However, the CEO may receive supplemental information as part of his review, which includes revenue by geographic region as well as by major product category. For the presentation of disaggregated revenue, refer to Note 3 to the consolidated financial statements included within this Form 10-K.
The following table provides our long-lived assets by major geographical region:
(in Millions)December 31,
20242023
Long-lived assets (1)
North America (2)
$956.0 $1,063.4 
Latin America278.8 714.8 
Europe, Middle East, and Africa (2)
3,685.4 1,718.2 
Asia (2)
251.0 1,964.1 
Total$5,171.2 $5,460.5 
___________________________
(1)Geographic long-lived assets exclude long-term deferred income taxes.
(2)The countries with long-lived assets in excess of 10 percent of consolidated long-lived assets at December 31, 2024 and 2023 are Singapore, which totaled $5.0 million and $1,699.6 million, the U.S., which totaled $941.6 million and $1,036.7 million and Denmark, which totaled $1,280.1 million and $1,334.0 million, respectively. In connection with our plans to establish a global technology and innovation center in Switzerland, we completed intra-entity transfers of certain intellectual property to one of the Company's Swiss subsidiaries during 2024. At December 31, 2024, Switzerland had long-lived assets in excess of 10 percent of consolidated long-lived assets totaling $2,050.8 million.
v3.25.0.1
Supplemental Information
 12 Months Ended
Dec. 31, 2024
Balance Sheet Related Disclosures [Abstract]  
Supplemental Information Supplemental Information
The following tables present details of prepaid and other current assets, other assets including long-term receivables, net, accrued and other liabilities and other long-term liabilities as presented on the consolidated balance sheets:
(in Millions)December 31,
20242023
Prepaid and other current assets
Prepaid insurance$12.7 $15.3 
Tax related items including value added tax receivables262.3 241.9 
Refund asset (1)
113.1 59.5 
Environmental obligation recoveries (Note 10)1.0 1.5 
Derivative assets (Note 18)47.0 5.7 
Other prepaid and current assets60.1 75.0 
Total$496.2 $398.9 
(in Millions)December 31,
20242023
Other assets including long-term receivables, net
Non-current receivables (Note 8)$39.7 $19.5 
Advance to contract manufacturers17.4 97.1 
Capitalized software, net112.1 123.3 
Environmental obligation recoveries (Note 10)2.8 3.4 
Beneficial interest in trade receivables securitization (Note 18)36.0 23.3 
Income taxes indirect benefits35.2 19.7 
Operating lease ROU asset (Note 16)110.4 121.8 
Deferred compensation arrangements (Note 18)22.3 23.8 
Pension and other postretirement benefits (Note 13)31.7 30.7 
Other long-term assets20.6 26.9 
Total$428.2 $489.5 
___________________________
(1)In accordance with revenue standard requirements, a sales return liability is recognized for the consideration paid by a customer to which FMC does not expect to be entitled, together with a corresponding refund asset to recover the product from the customer. See (1) below.
(in Millions)December 31,
20242023
Accrued and other liabilities
Restructuring reserves (Note 7)$58.3 $47.4 
Dividend payable (Note 15)72.6 72.5 
Accrued payroll62.2 55.5 
Environmental reserves, current, net of recoveries (Note 10)91.8 97.4 
Derivative liabilities (Note 18)12.9 17.1 
Furadan® product exit asset retirement obligations (Note 1)
4.0 5.0 
Operating lease current liabilities (Note 16)24.5 24.4 
Other accrued and other liabilities (1)
428.9 365.5 
Total$755.2 $684.8 
(in Millions)December 31,
20242023
Other long-term liabilities
Restructuring reserves (Note 7)$92.8 $3.0 
Furadan® product exit asset retirement obligations (Note 1)
3.5 1.4 
Transition tax related to Tax Cuts and Jobs Act (2)
— 23.3 
Contingencies related to uncertain tax positions 58.3 62.4 
Deferred compensation arrangements (Note 18)23.2 24.4 
Self-insurance reserves (primarily workers' compensation)2.6 2.3 
Lease obligations (Note 16)106.1 123.2 
Reserve for discontinued operations (Note 9)154.2 135.6 
Unfavorable contracts5.5 5.6 
Other long-term liabilities24.5 26.2 
Total$470.7 $407.4 
___________________________
(1)Other accrued and other liabilities includes our estimated liability for sales returns.
(2)Represents the final noncurrent portion of overall transition tax in 2023.
v3.25.0.1
Quarterly Financial Information (Unaudited)
 12 Months Ended
Dec. 31, 2024
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Financial Information (Unaudited) Quarterly Financial Information (Unaudited)
(in Millions, Except Share and Per Share Data)20242023
1Q2Q3Q4Q1Q2Q3Q4Q
Revenue$918.0 $1,038.4 $1,065.4 $1,224.3 $1,344.3 $1,014.5 $981.9 $1,146.1 
Gross margin339.7 398.1 386.4 524.7 581.3 432.8 381.2 435.7 
Income (loss) from continuing operations before equity in (earnings) loss of affiliates, non-operating pension and postretirement charges (income), interest expense, net and income taxes74.0 62.3 135.6 234.6 304.5 132.2 100.8 18.1 
Income (loss) from continuing operations9.4 298.0 66.5 29.5 207.4 53.9 4.6 1,153.6 
Discontinued operations, net of income taxes(12.5)(2.8)(0.9)(45.6)(11.5)(21.5)(8.3)(57.2)
Net income (loss) $(3.1)$295.2 $65.6 $(16.1)$195.9 $32.4 $(3.7)$1,096.4 
Less: Net income (loss) attributable to noncontrolling interests(0.4)0.1 0.6 0.2 (0.1)1.9 (0.2)(2.1)
Net income (loss) attributable to FMC stockholders$(2.7)$295.1 $65.0 $(16.3)$196.0 $30.5 $(3.5)$1,098.5 
Amounts attributable to FMC stockholders:
Continuing operations, net of income taxes$9.8 $297.9 $65.9 $29.3 $207.5 $52.0 $4.8 $1,155.7 
Discontinued operations, net of income taxes(12.5)(2.8)(0.9)(45.6)(11.5)(21.5)(8.3)(57.2)
Net income (loss)$(2.7)$295.1 $65.0 $(16.3)$196.0 $30.5 $(3.5)$1,098.5 
Basic earnings (loss) per common share attributable to FMC stockholders (1):
Continuing operations$0.08 $2.37 $0.53 $0.23 $1.65 $0.41 $0.04 $9.23 
Discontinued operations(0.10)(0.02)(0.01)(0.36)(0.09)(0.17)(0.07)(0.46)
Basic net income (loss) per common share$(0.02)$2.35 $0.52 $(0.13)$1.56 $0.24 $(0.03)$8.77 
Diluted earnings (loss) per common share attributable to FMC stockholders (1):
Continuing operations$0.08 $2.37 $0.53 $0.23 $1.64 $0.41 $0.04 $9.23 
Discontinued operations(0.10)(0.02)(0.01)(0.36)(0.09)(0.17)(0.07)(0.46)
Diluted net income (loss) per common share$(0.02)$2.35 $0.52 $(0.13)$1.55 $0.24 $(0.03)$8.77 
Weighted average shares outstanding:
Basic124.9 125.0 125.0 125.0 125.3 125.1 124.9 124.9 
Diluted125.2 125.4 125.5 125.5 126.1 125.7 125.3 125.2 
___________________________
(1)The sum of quarterly earnings per common share may differ from the full-year amount.
v3.25.0.1
SCHEDULE II—Valuation and Qualifying Accounts and Reserves
 12 Months Ended
Dec. 31, 2024
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]  
Schedule II - Valuation and Qualifying Accounts and Reserves
SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS AND RESERVES
 
Provision (Benefit)
(in Millions)
Balance,
Beginning
of Year
Charged to Costs and ExpensesCharged to Other Comprehensive Income
Net recoveries, write-offs and other (1)
Balance,
End of
Year
December 31, 2024
Reserve for doubtful accounts (2)
$56.2 10.4 — (5.9)$60.7 
Deferred tax valuation allowance588.4 625.7 (0.3)— 1,213.8 
December 31, 2023
Reserve for doubtful accounts (2)
$78.4 6.3 — (28.5)$56.2 
Deferred tax valuation allowance457.6 130.5 0.3 — 588.4 
December 31, 2022
Reserve for doubtful accounts (2)
$65.1 (0.5)— 13.8 $78.4 
Deferred tax valuation allowance398.7 61.5 (2.6)— 457.6 
____________________
(1)Write-offs are net of recoveries.
(2)Includes short-term and long-term portion.
v3.25.0.1
Pay vs Performance Disclosure - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Dec. 31, 2024
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2023
Sep. 30, 2023
Jun. 30, 2023
Mar. 31, 2023
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Pay vs Performance Disclosure                      
Net Income (Loss) $ (16.3) $ 65.0 $ 295.1 $ (2.7) $ 1,098.5 $ (3.5) $ 30.5 $ 196.0 $ 341.1 $ 1,321.5 $ 736.5
v3.25.0.1
Insider Trading Arrangements
 3 Months Ended
Dec. 31, 2024
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.25.0.1
Insider Trading Policies and Procedures
 12 Months Ended
Dec. 31, 2024
Insider Trading Policies and Procedures [Line Items]  
Insider Trading Policies and Procedures Adopted true
v3.25.0.1
Cybersecurity Risk Management and Strategy Disclosure
 12 Months Ended
Dec. 31, 2024
Cybersecurity Risk Management, Strategy, and Governance [Line Items]  
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]
As noted in Item 1A. Risk Factors, FMC recognizes that the threat of cybersecurity breaches may create significant risks for the Company. Accordingly, we are committed to an ongoing and comprehensive program to protect all company data, as well as data in our supply chain, from these threats. Our cybersecurity program includes governance defined by IT policies and standards and a robust IT risk management program. FMC uses several tools and controls to manage IT risk including, but not limited to, controls for the management of privileged access, anti-malware tools, required trainings for employees including an annual training module, simulated email phishing attacks, and other email security tools to detect and prevent intrusions as well as monitor threats. FMC employees have access to formal IT policies that define and clarify expected behaviors with respect to IT resources in various areas. The Company has a Cyber Incident Response Plan, which establishes procedures to prepare for and respond to a variety of cyber incidents, and engages in response planning, simulations, trainings, tabletop exercises, and other efforts to mitigate risk and prepare for a rapid response to any incidents should they occur. FMC performs a thorough security review prior to onboarding critical third-party providers, which includes review of third-party independent assessments in the form of SOC reports prior to contracting. SOC reports are also reviewed on an annual basis once the third-party is engaged. Additionally, our contracts with third-party providers require those organizations to notify FMC of any cyber incident that occurs when our information has been impacted.
Periodically, the Company has its cybersecurity programs audited by independent third parties using the NIST Cybersecurity Framework, which provides guidance to organizations on how to identify, prevent, detect, respond, and recover from cybersecurity threats.
Cybersecurity Risk Management Processes Integrated [Flag] true
Cybersecurity Risk Management Processes Integrated [Text Block] Our cybersecurity program includes governance defined by IT policies and standards and a robust IT risk management program. FMC uses several tools and controls to manage IT risk including, but not limited to, controls for the management of privileged access, anti-malware tools, required trainings for employees including an annual training module, simulated email phishing attacks, and other email security tools to detect and prevent intrusions as well as monitor threats.
Cybersecurity Risk Management Third Party Engaged [Flag] true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag] true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag] false
Cybersecurity Risk Board of Directors Oversight [Text Block]
FMC’s Board of Directors oversees the Company’s cybersecurity program primarily through its Audit Committee, which is comprised of independent directors whose prior work experience provides them with insights as to potential cybersecurity risks and mitigation strategies. Company executives along with external and internal cybersecurity experts update the Audit Committee at least quarterly on risks related to cybersecurity and the steps taken to monitor and control risk exposure. Additionally, the results of periodic audits performed on the Company’s cybersecurity programs, described above, are communicated to the Audit Committee upon completion.
In addition to the routine updates provided to the Audit Committee, FMC has an established policy for communication of cybersecurity incidents with the Board of Directors and, if material, the investor community. Refer to the discussion above for further details of this policy.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block] FMC’s Board of Directors oversees the Company’s cybersecurity program primarily through its Audit Committee, which is comprised of independent directors whose prior work experience provides them with insights as to potential cybersecurity risks and mitigation strategies.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block] Company executives along with external and internal cybersecurity experts update the Audit Committee at least quarterly on risks related to cybersecurity and the steps taken to monitor and control risk exposure. Additionally, the results of periodic audits performed on the Company’s cybersecurity programs, described above, are communicated to the Audit Committee upon completion.
Cybersecurity Risk Role of Management [Text Block]
FMC’s senior management Executive Committee and Leadership Team, which includes the Chief Executive Officer and all Company vice presidents, is responsible for review and oversight of the Company’s cybersecurity programs and risk assessment as well as the strategic direction of the program to address evolving risks. Specifically, Jas Sidhu, Senior Director - Core IT, serves as management’s expert in cybersecurity management. He has held various positions within the Company's IT department, has an educational background in Information Systems, and contributes technical expertise to the Company’s leadership team. He serves as a member of the Chemical Information Technology Center’s CIO organization and the SAP Chemicals Advisory Board. Mr. Sidhu also belongs to various business associations, including industry and government associations, to ensure timely receipt of critical threat information as well as access resources useful in developing cost-effective security solutions to protect the Company's personnel and information. Additionally, Andrew Sandifer, Executive Vice President and Chief Financial Officer, has completed continuing professional education courses covering the role of management and the board of directors in cybersecurity governance. Members of the management team are encouraged to engage in education opportunities related to cybersecurity.
FMC has established a process to assess the nature, scope and timing of a cyber incident and communicate the facts of the incident to management and the board of directors and, if needed, investors. In the event of a cybersecurity incident, the incident response team, which is managed by IT personnel, is responsible for ensuring the Chief Executive Officer and other members of the Executive Committee and Leadership Team are notified in a timely manner. For any cybersecurity incident, there will be a cross-functional review, including the IT, legal, and finance teams, to evaluate qualitative and quantitative factors related to the incident to determine if the impact of the event is material. Individuals from other departments may be involved in this review depending on the facts and circumstances of the incident. These individuals will be responsible for responding to the event and monitoring the impacts on the Company’s operations, financial position, and results of operations. This team will also evaluate cyber incidents in the aggregate if related events occur. During the response and recovery related to a cyber incident, this team will meet daily or weekly depending on the severity of the event and continuously evaluate the nature, scope, and timing of the event. Members of the senior management, including the Chief Financial Officer, Chief Accounting Officer, and General Counsel, as well as the Senior Director - Core IT will be briefed as to the facts and circumstances of a cyber incident and determine if the event is considered material to the business. If such determination is made, the matter will be escalated to Board of Directors. For material incidents, the Company will provide information regarding the nature and scope of the incident to investors in compliance with SEC regulations. Throughout this process and the recovery following an incident, the Company is focused on considering the ever-changing facts and circumstances of the event and remaining as transparent with the investment community as possible.
Cybersecurity Risk Management Positions or Committees Responsible [Flag] true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block] FMC’s senior management Executive Committee and Leadership Team, which includes the Chief Executive Officer and all Company vice presidents, is responsible for review and oversight of the Company’s cybersecurity programs and risk assessment as well as the strategic direction of the program to address evolving risks.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block] He has held various positions within the Company's IT department, has an educational background in Information Systems, and contributes technical expertise to the Company’s leadership team. He serves as a member of the Chemical Information Technology Center’s CIO organization and the SAP Chemicals Advisory Board. Mr. Sidhu also belongs to various business associations, including industry and government associations, to ensure timely receipt of critical threat information as well as access resources useful in developing cost-effective security solutions to protect the Company's personnel and information. Additionally, Andrew Sandifer, Executive Vice President and Chief Financial Officer, has completed continuing professional education courses covering the role of management and the board of directors in cybersecurity governance. Members of the management team are encouraged to engage in education opportunities related to cybersecurity.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]
FMC has established a process to assess the nature, scope and timing of a cyber incident and communicate the facts of the incident to management and the board of directors and, if needed, investors. In the event of a cybersecurity incident, the incident response team, which is managed by IT personnel, is responsible for ensuring the Chief Executive Officer and other members of the Executive Committee and Leadership Team are notified in a timely manner. For any cybersecurity incident, there will be a cross-functional review, including the IT, legal, and finance teams, to evaluate qualitative and quantitative factors related to the incident to determine if the impact of the event is material. Individuals from other departments may be involved in this review depending on the facts and circumstances of the incident. These individuals will be responsible for responding to the event and monitoring the impacts on the Company’s operations, financial position, and results of operations. This team will also evaluate cyber incidents in the aggregate if related events occur. During the response and recovery related to a cyber incident, this team will meet daily or weekly depending on the severity of the event and continuously evaluate the nature, scope, and timing of the event. Members of the senior management, including the Chief Financial Officer, Chief Accounting Officer, and General Counsel, as well as the Senior Director - Core IT will be briefed as to the facts and circumstances of a cyber incident and determine if the event is considered material to the business. If such determination is made, the matter will be escalated to Board of Directors. For material incidents, the Company will provide information regarding the nature and scope of the incident to investors in compliance with SEC regulations. Throughout this process and the recovery following an incident, the Company is focused on considering the ever-changing facts and circumstances of the event and remaining as transparent with the investment community as possible.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag] true
v3.25.0.1
Principal Accounting Policies and Related Financial Information (Policies)
 12 Months Ended
Dec. 31, 2024
Accounting Policies [Abstract]  
Basis of consolidation and basis of presentation
Basis of consolidation and basis of presentation. The accompanying consolidated financial statements of FMC Corporation and its subsidiaries were prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP"). Our consolidated financial statements include the accounts of FMC and all entities that we directly or indirectly control. All significant intercompany accounts and transactions are eliminated in consolidation.
Estimates and assumptions
Estimates and assumptions. In preparing the financial statements in conformity with U.S. GAAP we are required to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results are likely to differ from those estimates, but we do not believe such differences will materially affect our financial position, results of operations or cash flows.
Cash equivalents
Cash equivalents. We consider investments in all liquid debt instruments with original maturities of 3 months or less to be cash equivalents.
Trade receivables, net of allowance
Trade receivables, net of allowance. Trade receivables consist of amounts owed to us from customer sales and are recorded when revenue is recognized. The allowance for trade receivables represents our best estimate of the probable losses associated with potential customer defaults. In developing our allowance for trade receivables, we use a two-stage process which includes calculating a general formula to develop an allowance to appropriately address the uncertainty surrounding collection risk of our entire portfolio and specific allowances for customers where the risk of collection has been reasonably identified either due to liquidity constraints or disputes over contractual terms and conditions. Our methodology considers current economic conditions as well as forward-looking expectations about expected credit loss.
Our method of calculating the general formula consists of estimating the recoverability of trade receivables based on historical experience, current collection trends, and external business factors such as economic factors, including regional bankruptcy rates, and political factors. Our analysis of trade receivable collection risk is performed quarterly, and the allowance is adjusted accordingly.
We also hold long-term receivables that represent long-term customer receivable balances related to past-due accounts which are not expected to be collected within the current year. Our policy for the review of the allowance for these receivables is consistent with the discussion in the preceding paragraph above on trade receivables. Therefore, on an ongoing basis, we continue to evaluate the credit quality of our long-term receivables utilizing aging of receivables, collection experience and write-offs, as well as existing economic conditions, to determine if an additional allowance is necessary.
Investments
Investments. Investments in companies in which our ownership interest is 50 percent or less and in which we exercise significant influence over operating and financial policies are accounted for using the equity method. Under the equity method, original investments are recorded at cost and adjusted by our share of undistributed earnings and losses of these investments. Majority owned investments in which our control is restricted are also accounted for using the equity method. As of December 31, 2024 and 2023, we do not own any equity method investments. All other investments are carried at their fair values or at cost, as appropriate and are not material to our consolidated financial statements. FMC Ventures, which was established in 2020, is our venture capital arm targeting strategic investments in start-ups and early-stage companies that are developing and applying emerging technologies in the agricultural industry. The accounting guidance requires these nonmarketable equity securities to be recorded at cost and adjusted to fair value each reporting period. However, the guidance allows for a measurement alternative, which is to record the investment at cost, less impairment, if any, and subsequently adjust for observable price changes. Each reporting period, we review the portfolio for any observable price changes or potential indicators of impairment. At December 31, 2024, our investments made through FMC Ventures individually and in the aggregate are not significant to our financial results.
Inventories Inventories. Inventories are stated at the lower of cost or net realizable value. Inventory costs include those costs directly attributable to products before sale, including all manufacturing overhead but excluding distribution costs. All inventories are determined on a first-in, first-out ("FIFO") basis.
Property, plant and equipment
Property, plant and equipment. We record property, plant and equipment, including capitalized interest, at cost. We recognize acquired property, plant and equipment, from acquisitions at its estimated fair value. Depreciation is provided principally on the straight-line basis over the estimated useful lives of the assets (land improvements — 20 years, buildings and building equipment — 15 to 40 years, and machinery and equipment — 3 to 18 years). Gains and losses are reflected in income upon sale or retirement of assets. Expenditures that extend the useful lives of property, plant and equipment or increase productivity are capitalized. Ordinary repairs and maintenance are expensed as incurred through operating expense.
Capitalized interest
Capitalized interest. We capitalized interest costs of $9.6 million, $9.3 million, and $5.6 million in 2024, 2023, and 2022, respectively. These costs were primarily associated with the construction of certain long-lived assets and have been capitalized as part of the cost of those assets. We amortize capitalized interest over the assets’ estimated useful lives.
Impairments of long-lived assets
Impairments of long-lived assets. We review the recovery of the net book value of long-lived assets whenever events and circumstances indicate that the net book value of an asset may not be recoverable from the estimated undiscounted future cash flows expected to result from its use and eventual disposition. In cases where undiscounted expected future cash flows are less than the net book value, we recognize an impairment loss equal to an amount by which the net book value exceeds the fair value of the asset. Long-lived assets to be disposed of are reported at the lower of carrying amount or fair value less cost to sell.
Asset retirement obligations Asset retirement obligations. We record asset retirement obligations ("AROs") at fair value at the time the liability is incurred if we can reasonably estimate the settlement date. The associated AROs are capitalized as part of the carrying amount of related long-lived assets. In future periods, the liability is accreted to its present value and the capitalized cost is depreciated over the useful life of the related asset. We also adjust the liability for changes resulting from the passage of time and/or revisions to the timing or the amount of the original estimate. Upon retirement of the long-lived asset, we either settle the obligation for its recorded amount or incur a gain or loss.
Restructuring and other charges
Restructuring and other charges. We continually perform strategic reviews and assess the return on our business. This sometimes results in a plan to restructure the operations of our business. We record an accrual for severance and other exit costs under the provisions of the relevant accounting guidance.
See Note 7 to the consolidated financial statements included within this Form 10-K for more information on Project Focus, the global restructuring program announced in December 2023.
Additionally, as part of these restructuring plans, write-downs of long-lived assets may occur. Two types of assets are impacted: assets to be disposed of by sale and assets to be abandoned. Assets to be disposed of by sale are measured at the lower of carrying amount or estimated net proceeds from the sale. Assets to be abandoned with no remaining future service potential are written down to amounts expected to be recovered. The useful life of assets to be abandoned that have a remaining future service potential are adjusted and depreciation is recorded over the adjusted useful life.
Capitalized software Capitalized software. We capitalize the costs of internal use software in accordance with accounting literature which generally requires the capitalization of certain costs incurred to develop or obtain internal use software. We assess the recoverability of capitalized software costs on an ongoing basis and record write-downs to fair value as necessary. We amortize capitalized software costs over expected useful lives ranging from 3 to 10 years.
Goodwill and intangible assets
Goodwill and intangible assets. Goodwill and other indefinite life intangible assets are not subject to amortization. Instead, they are subject to at least an annual assessment for impairment by applying a fair value-based test.
We test goodwill and indefinite life intangibles for impairment annually using the criteria prescribed by U.S. GAAP accounting guidance for goodwill and other intangible assets. Based upon our annual impairment assessments conducted in 2024, 2023 and 2022, we did not record any goodwill or intangible asset impairments. During each of these annual assessments, we performed a quantitative assessment using a discounted cash flow model.
Finite-lived intangible assets consist of primarily customer relationships as well as patents, brands, registration rights, industry licenses, and other intangibles and are generally being amortized over periods of approximately 3 to 20 years.
Revenue recognition
Revenue recognition. We recognize revenue when (or as) we satisfy our performance obligation which is when the customer obtains control of the good or service. Rebates due to customers are accrued as a reduction of revenue in the same period that the related sales are recorded based on the contract terms. Refer to Note 3 to the consolidated financial statements included within this Form 10-K for further details.
We record amounts billed for shipping and handling fees as revenue. Costs incurred for shipping and handling are recorded as costs of sales and services. Amounts billed for sales and use taxes, value-added taxes, and certain excise and other specific transactional taxes imposed on revenue-producing transactions are presented on a net basis and excluded from revenue on the consolidated statements of income (loss). We record a liability until remitted to the respective taxing authority.
We periodically enter into prepayment arrangements with customers and receive advance payments for product to be delivered in future periods. These advance payments are recorded as deferred revenue and classified as "Advance payments from customers" on the consolidated balance sheet. Revenue associated with advance payments is recognized as shipments are made and transfer of control to the customer takes place.
We earn revenue from the sale of a wide range of products to a diversified base of customers around the world. We develop, market and sell all three major classes of crop protection chemicals (insecticides, herbicides and fungicides) as well as biologicals, crop nutrition, and seed treatment products, which we group as plant health. These products are used in agriculture to enhance crop yield and quality by controlling a broad spectrum of insects, weeds and disease, as well as in non-agricultural markets for pest control. The majority of our product lines consist of insecticides and herbicides, with a smaller portfolio of fungicides mainly used in high value crop segments. We are investing in plant health, which includes our growing biological products. Our insecticides are used to control a wide spectrum of pests, while our herbicide portfolio primarily targets a large variety of difficult-to-control weeds. Products in the other category include various agricultural products such as smaller classes of pesticides, growth promoters, and other miscellaneous revenue sources.
Sale of Goods
Revenue from product sales is recognized when (or as) we satisfy a performance obligation by transferring the promised goods to a customer, that is, when control of the good transfers to the customer. The customer is then invoiced at the agreed-upon price with payment terms generally ranging from 30 to 90 days, with some regions providing terms longer than 90 days. We do not typically give payment terms that exceed 360 days; however, in certain geographical regions such as Latin America, these terms may be given in limited circumstances. Additionally, a timing difference of over one year can exist between when products are delivered to the customer and when payment is received from the customer in these regions; however, the effect of these sales is not material to the financial statements as a whole. Furthermore, we have assessed the circumstances and arrangements in these regions and determined that the contracts with these customers do not contain a significant financing component.
In determining when the control of goods is transferred, we typically assess, among other things, the transfer of risk and title and the shipping terms of the contract. The transfer of title and risk typically occurs either upon shipment to the customer or upon receipt by the customer. As such, we typically recognize revenue when goods are shipped based on the relevant Incoterm for the product order, or in some regions, when delivery to the customer’s requested destination has occurred. When we perform shipping and handling activities after the transfer of control to the customer (e.g., when control transfers prior to delivery), they are considered as fulfillment activities, and accordingly, the costs are accrued for when the related revenue is recognized. For FOB shipping point terms, revenue is recognized at the time of shipment since the customer gains control at this point in time.
Sales Incentives and Other Variable Considerations
As a part of our customary business practice, we offer a number of sales incentives to our customers including volume discounts, retailer incentives, and prepayment options. The variable considerations given can differ by products, support levels and other eligibility criteria. For all such contracts that include any variable consideration, we estimate the amount of variable consideration that should be included in the transaction price utilizing either the expected value method or the most likely amount method depending on the nature of the variable consideration. Variable consideration is included in the transaction price if, in our judgment, it is probable that a significant future reversal of cumulative revenue under the contract will not occur. Although determining the transaction price for these considerations requires significant judgment, we have significant historical experience with incentives provided to customers and estimate the expected consideration considering historical patterns of incentive payouts. These estimates are reassessed each reporting period as required.
In addition to the variable considerations described above, in certain instances, we may require our customers to meet certain volume thresholds within their contract term. We estimate what amount of variable consideration should be included in the transaction price at contract inception and continually reassess this estimation each reporting period to determine situations when the minimum volume thresholds will not be met.
Right of Return
We extend an assurance warranty offering customers a right of refund or exchange in case delivered product does not conform to specifications. Additionally, in certain regions and arrangements, we may offer a right of return for a specified period. Both instances are accounted for as a right of return and transaction price is adjusted for an estimate of expected returns. Replacement products are accounted for under the warranty guidance if the customer exchanges one product for another of the same kind, quality, and price. We have significant experience with historical return patterns and use this experience to include returns in the estimate of transaction price.
Contract Asset and Contract Liability Balances
We satisfy our obligations by transferring goods and services in exchange for consideration from customers. The timing of performance sometimes differs from the timing the associated consideration is received from the customer, thus resulting in the recognition of a contract asset or contract liability. We recognize a contract liability if the customer's payment of consideration is received prior to completion of our related performance obligation.
The balance of receivables from contracts with customers listed in the table above include both current trade receivables and long-term receivables, net of allowance for doubtful accounts. The change in allowance for doubtful accounts for both current trade receivables and long-term receivables for any period is representative of the impairment or the write-off of receivables. Refer to Note 8 to the consolidated financial statements included within this Form 10-K for further information.
We periodically enter into prepayment arrangements with customers and receive advance payments for product to be delivered in future periods. Prepayment terms are extended to customers/distributors in order to capitalize on surplus cash with growers. Growers receive bulk payments for their produce, which they leverage to buy our products from distributors through prepayment options. This in turn creates opportunity for distributors to make large prepayments to us for securing the future supply of products to be sold to growers. Prepayments are typically received in the fourth quarter of the fiscal year, and are for the following marketing year indicating that the time difference between prepayment and performance of corresponding performance obligations does not exceed one year.
We recognize these prepayments as a liability under "Advance payments from customers" on the consolidated balance sheets when they are received. Revenue associated with advance payments is recognized as shipments are made and transfer of control to the customer takes place.
Performance Obligations
At contract inception, we assess the goods and services promised in our contracts with customers and identify a performance obligation for each promise to transfer a good or service (or bundle of goods or services) that is distinct. To identify the performance obligations, we consider all the goods or services promised in the contract, whether explicitly stated or implied based on customary business practices. Based on our evaluation, we have determined that our current contracts do not contain more than one performance obligation. Revenue is recognized when (or as) the performance obligation is satisfied, which is when the customer obtains control of the good or service.
Periodically, we may enter into contracts with customers which require them to submit a forecast of non-binding purchase obligations to us. These forecasts are typically provided by the customer to us in good faith, and there are no penalties or obligations if the forecasts are not met. Accordingly, we have determined that these are optional purchases and do not represent material rights and are not considered as unsatisfied (or partially satisfied) performance obligations.
In separate and less common circumstances, we may have contracts with customers which have binding purchase requirements for just one quarter of their annual forecasts. Additionally, as noted in the Contract Liabilities section above, we periodically enter into agricultural prepayment arrangements with customers, and receive advance payments for product to be delivered in future periods within one year.
Other Arrangements
Data Licensing
We sometimes grant to third parties a license and right to rely upon pesticide regulatory data filed with government agencies. Such licenses allow a licensee to cite and rely upon our data in connection with the licensee’s application for pesticide registrations as required by law; these licenses can be granted through contract or through a mandatory statutory license, depending on circumstances. In the most common occurrence, when a license is embedded in a contract for supply of pesticide active ingredient from us to the licensee, the license grant is not considered as distinct from other promised goods or services. Accordingly, all promises are treated as a single performance obligation and revenue is recognized at a point when the control of the pesticide products is transferred to the licensee-customer. In the less frequent occurrence, when the license and right to use data is granted without a supply contract, we account for the revenue attributable to the data license as a performance obligation satisfied at a single point in time and recognize revenue on the effective date of such contract. Finally, in those circumstance of mandatory data licensing by statute, such as under U.S. pesticide law, we recognize the data compensation upon the effective date of the data compensation settlement agreement. Payment terms for these arrangements may vary by contract.
Service Arrangements
In limited cases, we engage in providing certain tolling services, such as filling and packing services using raw and packing materials supplied by the customer. Depending on the nature of the tolling services, we determine the appropriate method of satisfaction of the performance obligation, which may be the input or output method. Compared to other goods and services provided by us, service arrangements do not represent a significant portion of sales each year. Payment terms for service arrangements may vary by contract; however, payment is typically due within 30 days of the invoice date.
Practical Expedients and Exemptions
We have elected the following practical expedients under ASC 606:
a.Costs of obtaining a contract: FMC incurs certain costs such as sales commissions which are incremental to obtaining the contract. We have taken the practical expedient of expensing such costs to obtain a contract, as and when they are incurred, as their expected amortization period is one year or less.
b.Significant financing component: We elected not to adjust the promised amount of consideration for the effects of a significant financing component if FMC expects, at contract inception, that the period between the transfer of a promised good or service to a customer and when the customer pays for that good or service will be one year or less.
c.Remaining performance obligations: We elected not to disclose the aggregate amount of the transaction price allocated to remaining performance obligations for its contracts that are one year or less, as the revenue is expected to be recognized within one year. Additionally, we have elected not to disclose information about variable considerations for remaining, wholly unsatisfied performance obligations for which the criteria in paragraph 606-10-32-40 have been met.
d.Shipping and handling costs: We elected to account for shipping and handling activities that occur after the customer has obtained control of a good as fulfillment activities (i.e., an expense) rather than as a promised service.
e.Measurement of transaction price: We have elected to exclude from the measurement of transaction price all taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue-producing transaction and collected by us from a customer.
Research and development
Research and development. Research and development costs are expensed as incurred. In-process research and development acquired as part of asset acquisitions, which include license and development agreements, are expensed as incurred and included as a component of "Restructuring and other charges (income)" on the consolidated statements of income (loss).
Income and other taxes
Income and other taxes. We provide current income taxes on income reported for financial statement purposes adjusted for transactions that do not enter into the computation of income taxes payable. We recognize deferred tax liabilities and assets for the expected future tax consequences of temporary differences between the carrying amounts and the tax basis of assets and liabilities. We have not provided income taxes for other outside basis differences inherent in our investments in subsidiaries because the investments and related unremitted earnings are essentially permanent in duration or we have concluded that no additional tax liability will arise upon disposal or remittance.
Foreign currency
Foreign currency. We translate the assets and liabilities of our foreign operations at exchange rates in effect at the balance sheet date. For foreign operations where the functional currency is not the U.S. dollar we record translation gains and losses as a component of accumulated other comprehensive income (loss) in equity. The foreign operations' income statements are translated at the monthly exchange rates for the period. 
We record remeasurement gains and losses on monetary assets and liabilities, such as accounts receivables and payables, which are not in the functional currency of the operation. These remeasurement gains and losses are recorded in income as they occur. We generally enter into foreign currency contracts to mitigate the financial risk associated with these transactions.
Derivative financial instruments
Derivative financial instruments. We mitigate certain financial exposures, including currency risk, interest rate risk and to a lesser extent commodity price exposures, through a controlled program of risk management that includes the use of derivative financial instruments when applicable. We enter into foreign exchange contracts, including forward and purchased option contracts, to reduce the effects of fluctuating foreign currency exchange rates.
We recognize all derivatives on the balance sheet at fair value. On the date the derivative instrument is entered into, we generally designate the derivative as either a hedge of the variability of cash flows to be received or paid related to a forecasted transaction (cash flow hedge) or a hedge of the fair value of a recognized asset or liability or of an unrecognized firm commitment (fair value hedge). We record in accumulated other comprehensive income (loss) changes in the fair value of derivatives that are designated as, and meet all the required criteria for, a cash flow hedge. We then reclassify these amounts into earnings as the underlying hedged item affects earnings. We record immediately in earnings changes in the fair value of derivatives that are not designated as cash flow hedges.
We formally document all relationships between hedging instruments and hedged items, as well as the risk management objective and strategy for undertaking various hedge transactions. This process includes relating derivatives that are designated as fair value or cash flow hedges to specific assets and liabilities on the balance sheet or to specific firm commitments or forecasted transactions. We also formally assess, both at the inception of the hedge and throughout its term, whether each derivative is highly effective in offsetting changes in fair value or cash flows of the hedged item. If we determine that a derivative is not highly effective as a hedge, or if a derivative ceases to be a highly effective hedge, we discontinue hedge accounting with respect to that derivative prospectively.
Use of Derivative Financial Instruments to Manage Risk
We mitigate certain financial exposures, including currency risk, commodity purchase exposures and interest rate risk through a program of risk management that includes the use of derivative financial instruments. We enter into foreign exchange contracts, including forward and purchased option contracts, to reduce the effects of fluctuating foreign currency exchange rates.
Foreign Currency Exchange Risk Management
We conduct business in many foreign countries, exposing earnings, cash flows, and our financial position to foreign currency risks. The majority of these risks arise as a result of foreign currency transactions. Our policy is to minimize exposure to adverse changes in currency exchange rates. This is accomplished through a controlled program of risk management that includes the use of foreign currency debt and forward foreign exchange contracts. We also use forward foreign exchange contracts to hedge firm and highly anticipated foreign currency cash flows, with an objective of balancing currency risk to provide adequate protection from significant fluctuations in the currency markets.

The primary currencies for which we have exchange rate exposure are the U.S. dollar versus the Brazilian real, Chinese yuan, Indian rupee, euro, Mexican peso and Argentine peso.
Commodity Price Risk
We are exposed to risks in energy costs due to fluctuations in energy prices, including natural gas, electricity, and other commodities. We attempt to mitigate our exposure to increasing energy costs by entering into physical and financial derivative contracts to hedge the cost of future deliveries of our commodities.
Interest Rate Risk
We use various strategies to manage our interest rate exposure, including entering into interest rate swap agreements to achieve a targeted mix of fixed and variable-rate debt. In the agreements we exchange, at specified intervals, the difference between fixed and variable-interest amounts calculated on an agreed-upon notional principal amount.
Concentration of Credit Risk
Our counterparties to derivative contracts are primarily major financial institutions. We limit the dollar amount of contracts entered into with any one financial institution and monitor counterparties’ credit ratings. We also enter into master netting agreements with each financial institution, where possible, which helps mitigate the credit risk associated with our financial instruments. While we may be exposed to credit losses due to the nonperformance of counterparties, we consider this risk remote.
Financial Guarantees and Letter-of-Credit Commitments
We enter into various financial instruments with off-balance sheet risk as part of the normal course of business. These off-balance sheet instruments include financial guarantees and contractual commitments to extend financial guarantees under letters of credit and other assistance to customers. See Notes 1 and 19 to the consolidated financial statements included within this Form 10-K for more information. Decisions to extend financial guarantees to customers, and the amount of collateral required under these guarantees, is based on our evaluation of creditworthiness on a case-by-case basis.

Accounting for Derivative Instruments and Hedging Activities
Cash Flow Hedges
Treasury stock
Treasury stock. We record shares of common stock repurchased at cost as treasury stock, resulting in a reduction of stockholders’ equity on the consolidated balance sheets. When the treasury shares are contributed under our employee benefit plans or issued for option exercises, we use a FIFO method for determining cost. The difference between the cost of the shares and the market price at the time of contribution to an employee benefit plan is added to or deducted from the related capital in excess of par value of common stock.
Segment information
Segment information. We operate as a single business segment providing innovative solutions to growers around the world. The business is supported by global corporate staff functions. The determination of a single segment is consistent with the financial information regularly reviewed by the chief executive officer, who serves as the Chief Operating Decision Maker (the “CODM”), for purposes of evaluating performance, allocating resources, setting incentive compensation targets and both planning and forecasting future periods. For further details on the information reviewed by the CODM in assessing performance and allocating resources, refer to Note 20 to the consolidated financial statements within this Form 10-K.
As supplemental information, the Company discloses revenue at the geographical and product category level. Refer to Note 3 to the consolidated financial statements included within this Form 10-K for this revenue detail.
Geographic long-lived assets include goodwill and other intangibles, net, property, plant and equipment, net and other non-current assets. Refer to Note 20 to the consolidated financial statements included within this Form 10-K for further details.
Stock compensation plans Stock compensation plans. We recognize compensation expense in the financial statements for all share options and other equity-based arrangements. Share-based compensation cost is measured at the date of grant, based on the fair value of the award, and is recognized over the employee’s requisite service period.
Environmental obligations
Environmental obligations. We provide for environmental-related obligations when they are probable and amounts can be reasonably estimated. Where the available information is sufficient to estimate the amount of liability, that estimate has been used. Where the information is only sufficient to establish a range of probable liability and no point within the range is more likely than any other, the lower end of the range has been used.
Estimated obligations to remediate sites that involve oversight by the United States Environmental Protection Agency ("EPA"), or similar government agencies, are generally accrued no later than when a Record of Decision ("ROD"), or equivalent, is issued, or upon completion of a Remedial Investigation/Feasibility Study ("RI/FS"), or equivalent, that is submitted by us and the appropriate government agency or agencies. Estimates are reviewed quarterly and, if necessary, adjusted as additional information becomes available. The estimates can change substantially as additional information becomes available regarding the nature or extent of site contamination, required remediation methods, and other actions by or against governmental agencies or private parties.
Our environmental liabilities for continuing and discontinued operations are principally for costs associated with the remediation and/or study of sites at which we are alleged to have released hazardous substances into the environment. Such costs principally include, among other items, RI/FS, site remediation, costs of operation and maintenance of the remediation plan, management costs, fees to outside law firms and consultants for work related to the environmental effort, and future monitoring costs. Estimated site liabilities are determined based upon existing remediation laws and technologies, specific site consultants’ engineering studies or by extrapolating experience with environmental issues at comparable sites.
Included in our environmental liabilities are costs for the operation, maintenance and monitoring ("OM&M") of site remediation plans. Such reserves are based on our best estimates for these OM&M plans. Over time we may incur OM&M costs in excess of these reserves. However, we are unable to reasonably estimate an amount in excess of our recorded reserves because we cannot reasonably estimate the period for which such OM&M plans will need to be in place or the future annual cost of such remediation, as conditions at these environmental sites change over time. Such additional OM&M costs could be significant in total but would be incurred over an extended period of years.
Included in the environmental reserve balance, other assets balance and disclosure of reasonably possible loss contingencies are amounts from third-party insurance policies which we believe are probable of recovery.
Provisions for environmental costs are reflected in income, net of probable and estimable recoveries from named Potentially Responsible Parties ("PRPs") or other third parties. All of our environmental provisions incorporate inflation and are not discounted to their present value, other than our reserve for our Pocatello Tribal Matter. We remeasure this discounted liability balance according to current interest rates. See Note 10 to the consolidated financial statements included within this Form 10-K for further information.
In calculating and evaluating the adequacy of our environmental reserves, we have taken into account the joint and several liability imposed by Comprehensive Environmental Remediation, Compensation and Liability Act ("CERCLA") and the analogous state laws on all PRPs and have considered the identity and financial condition of the other PRPs at each site to the extent possible. We have also considered the identity and financial condition of other third parties from whom recovery is anticipated, as well as the status of our claims against such parties. Although we are unable to forecast the ultimate contributions of PRPs and other third parties with absolute certainty, the degree of uncertainty with respect to each party is taken into account when determining the environmental reserve on a site-by-site basis. Our liability includes our best estimate of the costs expected to be paid before the consideration of any potential recoveries from third parties. We believe that any recorded recoveries related to PRPs are realizable in all material respects. Recoveries are recorded as either an offset in "Environmental liabilities, continuing and discontinued" or as "Other assets including long-term receivables, net" in our consolidated balance sheets in accordance with U.S. accounting literature.
Pension and other postretirement benefits
Pension and other postretirement benefits. We provide qualified and nonqualified defined benefit and defined contribution pension plans, as well as postretirement health care and life insurance benefit plans to our employees and retirees. The costs (or benefits) and obligations related to these benefits reflect key assumptions related to general economic conditions, including interest (discount) rates, healthcare cost trend rates, expected rates of return on plan assets and the rates of compensation increase for employees. The costs (or benefits) and obligations for these benefit programs are also affected by other assumptions, such as average retirement age, mortality, employee turnover, and plan participation. To the extent our plans’ actual experience, as influenced by changing economic and financial market conditions or by changes to our own plans’ demographics, differs from these assumptions, the costs and obligations for providing these benefits, as well as the plans’ funding requirements, could increase or decrease. When actual results differ from our assumptions, the difference is typically recognized over future periods. In addition, the unrealized gains and losses related to our pension and postretirement benefit obligations may also affect periodic benefit costs (or benefits) in future periods. See Note 13 to the consolidated financial statements included within this Form 10-K for additional information relating to pension and other postretirement benefits.
New accounting guidance and regulatory items and Recently adopted accounting guidance
New accounting guidance and regulatory items
On November 4, 2024, the FASB issued ASU 2024-03, Income Statement - Reporting Comprehensive Income (Topic 220): Expense Disaggregation Disclosures, to require disaggregation of certain expense captions into specified categories in disclosures within the notes of the financial statements. The standard is effective for FMC beginning with the Form 10-K for the year ended December 31, 2027 and early adoption is permitted. The guidance is required to be applied prospectively and amendments in the ASU may be applied prospectively or retrospectively. We are currently evaluating the impacts this standard will have on our disclosures.
On March 6, 2024, the SEC adopted the final rule under SEC Release No. 33-11275, The Enhancement and Standardization of Climate-Related Disclosures for Investors, which will require registrants to provide certain climate-related information in their registration statements and periodic reports. The required disclosures will include, but are not limited to, specific disclosures about climate-related risks and their actual or likely material impacts on the registrant’s business, strategy, and outlook; the governance of climate-related risks and relevant risk management processes; Scope 1 and 2 greenhouse gas (GHG) emissions, if material or included in announced emission targets; certain climate-related financial statement metrics and related disclosures in a note to the audited financial statements; and information about climate-related targets and goals. The rules are effective on a rolling basis for various fiscal years, beginning for the Company with annual reports for the year ending December 31, 2025. However, in response to various legal challenges, the SEC voluntarily stayed the rules on April 4, 2024, which may impact the ultimate effective date of the rules. We will continue to monitor any developments on these rules and expected timing for compliance.
On December 14, 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Changes to the Disclosure Requirements for Income Taxes, to improve the transparency and decision usefulness of income tax disclosures. The standard requires companies to disclose a tabular effective rate reconciliation with certain reconciling items broken out by nature and/or jurisdiction as well as more robust disclosures of income taxes paid, specifically broken out between federal, state and foreign. The standard can be applied prospectively or retrospectively and early adoption is permitted. The ASU is effective for FMC beginning with the Form 10-K for the year ended December 31, 2025. We are currently evaluating the impacts this standard will have on our income tax disclosures.
Recently adopted accounting guidance
On November 27, 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, to improve the disclosures about a public entity's reportable segments and expenses. The standard requires disclosure of the chief operating decision maker's (the "CODM") title and position as well as the measures of segment profit and loss reviewed by the CODM. Companies with multiple reportable segments as well as companies with a single reportable segment are required to adopt the standard and it should be applied retrospectively to all periods presented. The ASU is effective for FMC beginning with the Form 10-K for the year ended December 31, 2024 and, as such, we have adopted the new disclosure requirements in this Form 10-K. See Note 20 to the consolidated financial statements for the required disclosures.
On December 20, 2021, the Organization for Economic Co-operation and Development (the "OECD") released Pillar Two Model Rules defining the global minimum tax, which calls for the taxation of large corporations at a minimum rate of 15%. The OECD continues to release additional guidance on the two-pillar framework. Pillar Two legislation has been enacted in certain jurisdictions in which the Company operates, which became effective for the Company’s financial year beginning January 1, 2024. The 2024 impacts of Pillar Two legislation were not material. We are continuing to evaluate the potential impact on future periods of the Pillar Two Framework, pending legislative adoption by individual countries.
In September 2022, the FASB issued ASU No. 2022-04, Liabilities—Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations. In accordance with the new disclosure requirements, which we have adopted beginning January 1, 2023, we have included information regarding our key program terms and the amount outstanding that remains unpaid at period end as further described below. The roll forward disclosure requirement became effective beginning with this Form 10-K and the required disclosure is included below.
We work with suppliers to optimize payment terms and conditions on accounts payable to improve working capital and cash flows. We offer to a select group of suppliers a voluntary Supply Chain Finance (“SCF”) program with a global financial institution. The suppliers, at their sole discretion, may sell their receivables to the financial institution based on terms negotiated between them. Our obligations to our suppliers are not impacted by our suppliers’ decisions to sell under these arrangements. Obligations outstanding under this program are recorded within "Accounts payable, trade and other" in our condensed consolidated balance sheets and the associated payments are included in operating activities within our condensed consolidated statements of cash flows.
Our payment terms with our suppliers are consistent, regardless of whether a supplier participates in the program. We deem these terms to be commercially reasonable and consistent with the range of industry standards within their respective regions. Under the terms of the agreement, we do not pledge assets as security or make any other forms of guarantees.
FMC's outstanding obligations confirmed as valid under the SCF was $227.4 million and $71.9 million as of December 31, 2024 and 2023, respectively
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Recently Issued and Adopted Accounting Pronouncements and Regulatory Items (Tables)
 12 Months Ended
Dec. 31, 2024
Accounting Policies [Abstract]  
Schedule of Supplier Finance Program
December 31,
(in Millions)20242023
Confirmed obligations outstanding at the beginning of the year$71.9 $307.5 
Invoices confirmed during the year406.4 490.6 
Confirmed invoices paid during the year(250.9)(726.2)
Confirmed obligations at the end of the year$227.4 $71.9 
v3.25.0.1
Revenue Recognition (Tables)
 12 Months Ended
Dec. 31, 2024
Revenue from Contract with Customer [Abstract]  
Schedule of Disaggregation of Revenue
The following table provides information about disaggregated revenue by major geographical region:
Year Ended December 31,
(in Millions)202420232022
North America (1)
$1,173.4 $1,204.8 $1,435.8 
Latin America (1)
1,389.5 1,401.1 2,088.2 
Europe, Middle East & Africa834.8 899.2 1,039.7 
Asia848.4 981.7 1,238.6 
Total Revenue$4,246.1 $4,486.8 $5,802.3 
____________________
(1)Countries with sales in excess of 10 percent of consolidated revenue consisted of the U.S. and Brazil. Sales for the years ended December 31, 2024, 2023, and 2022 for the U.S. totaled $1,003.1 million, $978.1 million and $1,288.8 million, respectively, and for Brazil totaled $1,081.1 million, $1,017.3 million and $1,621.1 million, respectively.
The following table provides information about disaggregated revenue by major product category:
Year Ended December 31,
(in Millions)202420232022
Insecticides$2,377.9 $2,639.4 $3,346.6 
Herbicides1,280.5 1,278.4 1,651.6 
Fungicides352.5 317.6 383.9 
Plant Health200.5 186.9 234.1 
Other34.7 64.5 186.1 
Total Revenue$4,246.1 $4,486.8 $5,802.3 
Schedule of Receivables and Contract Liabilities
The following table presents the opening and closing balances of our receivables, net of allowances and contract liabilities from contracts with customers:
(in Millions)Balance as of December 31, 2024Balance as of December 31, 2023Increase (Decrease)
Receivables from contracts with customers, net of allowances$2,942.9 $2,722.7 $220.2 
Contract liabilities: Advance payments from customers453.8 482.1 (28.3)
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Goodwill and Intangible Assets (Tables)
 12 Months Ended
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule Of Goodwill
The changes in the carrying amount of goodwill for the years ended December 31, 2024 and 2023 are presented in the table below:
(in Millions)Total
Balance, December 31, 2022$1,589.3 
Foreign currency and other adjustments4.3 
Balance, December 31, 2023$1,593.6 
GSS divestiture allocation (See Note 1)
(71.1)
Foreign currency and other adjustments(15.5)
Balance, December 31, 2024$1,507.0 
Schedule Of Finite-lived Intangible Assets
Our intangible assets, other than goodwill, consist of the following:
December 31, 2024December 31, 2023
(in Millions)Weighted avg. useful life remaining at December 31, 2024GrossAccumulated AmortizationNetGrossAccumulated AmortizationNet
Intangible assets subject to amortization (finite life)
Customer relationships12 years$1,117.5 $(458.9)$658.6 $1,136.7 $(414.2)$722.5 
Patents8 years1.7 (1.7)— 1.8 (1.6)0.2 
Brands (1)
8 years48.3 (19.2)29.1 49.3 (12.9)36.4 
Purchased and licensed technologies12 years125.5 (48.2)77.3 131.1 (46.2)84.9 
Other intangibles7 years2.3 (1.8)0.5 2.3 (1.8)0.5 
$1,295.3 $(529.8)$765.5 $1,321.2 $(476.7)$844.5 
Schedule Of Indefinite-lived Intangible Assets
Intangible assets not subject to amortization (indefinite life)
Crop Protection Brands (2)
$1,259.0 $1,259.0 $1,259.0 $1,259.0 
Brands (1)
325.6 325.6 350.3 350.3 
In-process research and development 10.6 10.6 11.3 11.3 
$1,595.2 $1,595.2 $1,620.6 $1,620.6 
Total intangible assets$2,890.5 $(529.8)$2,360.7 $2,941.8 $(476.7)$2,465.1 
____________________ 
(1)    Represents trademarks, trade names and know-how.
(2)    Represents proprietary brand portfolios, consisting of trademarks, trade names and know-how, of our crop protection brands.
Schedule Of Amortization Expense
Year Ended December 31,
(in Millions)202420232022
Amortization expense$65.5 $64.3 $60.6 
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Inventories (Tables)
 12 Months Ended
Dec. 31, 2024
Inventory Disclosure [Abstract]  
Schedule of Inventories
Inventories consisted of the following:
December 31,
 (in Millions)20242023
Finished goods$433.5 $643.8 
Work in process548.6 732.2 
Raw materials, supplies and other219.5 348.6 
Net inventories$1,201.6 $1,724.6 
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Property, Plant and Equipment (Tables)
 12 Months Ended
Dec. 31, 2024
Property, Plant and Equipment [Abstract]  
Schedule of Property, Plant And Equipment
Property, plant and equipment consisted of the following:
December 31,
(in Millions)20242023
Land and land improvements$96.3 $98.1 
Buildings and building equipment537.2 540.0 
Machinery and equipment757.7 717.2 
Construction in progress206.7 204.5 
Total cost$1,597.9 $1,559.8 
Accumulated depreciation(748.2)(667.3)
Property, plant and equipment, net$849.7 $892.5 
_________________________
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Restructuring and Other Charges (Income) (Tables)
 12 Months Ended
Dec. 31, 2024
Restructuring and Related Activities [Abstract]  
Schedule of Restructuring and Other Charges (Income)
The following table shows total restructuring and other charges (income) included in the respective line items of the consolidated statements of income (loss):
 Year Ended December 31,
(in Millions)202420232022
Restructuring charges (income)$303.0 $48.4 $(26.1)
Other charges (income), net(83.2)163.9 119.2 
Total restructuring and other charges (income)$219.8 $212.3 $93.1 
Schedule of Restructuring Charges and Asset Disposals
Restructuring charges (income)
(in Millions)Severance and Employee Benefits
Other Charges (Income) (1)
Asset Disposal Charges (2)
Total
Project Focus$55.8 $163.1 $87.0 $305.9 
Other items— (2.9)— (2.9)
Year ended December 31, 2024$55.8 $160.2 $87.0 $303.0 
Project Focus$40.1 $5.4 $— $45.5 
DuPont Crop restructuring — (8.1)2.8 (5.3)
Other items6.9 1.3 — 8.2 
Year ended December 31, 2023$47.0 $(1.4)$2.8 $48.4 
DuPont Crop restructuring $— $(49.9)$1.2 $(48.7)
Regional realignment 3.8 4.1 — 7.9 
Other items2.1 2.6 10.0 14.7 
Year ended December 31, 2022$5.9 $(43.2)$11.2 $(26.1)
____________________ 
(1)Other charges, primarily represents third-party costs associated with various restructuring activities. The year ended December 31, 2024, includes $132.1 million related to contract abandonment charges. Other income, if applicable, primarily represents favorable developments on previously recorded exit costs and recoveries associated with restructuring. The year ended December 31, 2024 includes a $3.1 million gain recognized on the disposition of a previously closed manufacturing site. The years ended December 31, 2023 and 2022 include the recognition of gains of $5.8 million and $50.5 million, respectively, in connection with an agreement for land disposition of a previously closed manufacturing site.
(2)Primarily represents asset write-offs (recoveries), and accelerated depreciation and impairment charges on long-lived assets, which were or are to be abandoned. To the extent incurred, the acceleration effect of re-estimating settlement dates and revised cost estimates associated with asset retirement obligations due to facility shutdowns, are also included within the asset disposal charges.
Schedule of Restructuring Reserve Roll Forward
The following table shows a roll forward of restructuring reserves that will result in cash spending. These amounts exclude asset retirement obligations:
(in Millions)Balance at 12/31/22
Change in
reserves (4)
Cash
payments
Other (5)
Balance at 12/31/23 (6)
Change in
reserves (4)
Cash
payments
Other (5)
Balance at 12/31/24 (6)
Project Focus (1)
$— $45.5 $(2.4)$— $43.1 $210.1 $(106.2)$(0.1)$146.9 
DuPont Crop restructuring (2)
5.0 — (1.0)(0.1)3.9 — (0.9)— 3.0 
Other workforce related and facility shutdowns (3)
5.6 9.9 (12.5)0.4 3.4 0.3 (2.1)(0.4)1.2 
Total$10.6 $55.4 $(15.9)$0.3 $50.4 $210.4 $(109.2)$(0.5)$151.1 
____________________ 
(1)Relates to the global restructuring plan initiated in 2023 and primarily consists of contract abandonment charges resulting from the evaluation of our supply chain footprint as well as severance charges related to workforce reduction actions across all regions.
(2)Represents remaining cash spending on facility separation costs associated with DuPont Crop restructuring activities.
(3)Includes exit costs related to workforce reductions and facility shutdowns on previously implemented restructuring initiatives.
(4)Primarily consists of severance and employee separation costs, third-party provider fees and, in 2024, contract abandonment charges. The accelerated depreciation and asset impairment charges associated with these restructurings that have impacted our property, plant and equipment, intangible balances or other asset balances are not included in this table.
(5)Primarily comprised of foreign currency translation and other non-cash adjustments.
(6)Included in "Accrued and other liabilities" and "Other long-term liabilities" on the consolidated balance sheets.
Schedule of Other Charges Included Within Restructuring and Other Charges Income
Other charges (income), net
 Year Ended December 31,
(in Millions)202420232022
Environmental charges, net$74.7 $66.9 $34.7 
Gain on sale of GSS (174.4)— — 
Exit from Russian Operations— — 76.8 
Currency related matters— 75.2 — 
IPR&D asset acquisition charges — 13.0 — 
Other items, net16.5 8.8 7.7 
Other charges (income), net$(83.2)$163.9 $119.2 
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Receivables (Tables)
 12 Months Ended
Dec. 31, 2024
Receivables [Abstract]  
Schedule of Allowance for Doubtful Accounts
The following table displays a roll forward of the allowance for doubtful trade receivables.
(in Millions)
Balance, December 31, 2022$33.9 
Additions — charged (credited) to expense4.7 
Transfer from (to) allowance for credit losses (see below)(1.5)
Net recoveries, write-offs and other(8.0)
Balance, December 31, 2023$29.1 
Additions — charged (credited) to expense12.2 
Transfer from (to) allowance for credit losses (see below)(3.6)
Net recoveries, write-offs and other1.7 
Balance, December 31, 2024$39.4 
Schedule of Allowance of Credit Losses Rollforward
The following table displays a roll forward of the allowance for credit losses related to long-term customer receivables.
(in Millions)
Balance, December 31, 2022$44.5 
Additions — charged (credited) to expense1.6 
Transfer from (to) allowance for doubtful accounts (see above)1.5 
Foreign currency adjustments0.8 
Net recoveries, write-offs and other(21.3)
Balance, December 31, 2023$27.1 
Additions — charged (credited) to expense(1.8)
Transfer from (to) allowance for doubtful accounts (see above)3.6 
Foreign currency adjustments(3.4)
Net recoveries, write-offs and other(4.2)
Balance, December 31, 2024$21.3 
v3.25.0.1
Discontinued Operations (Tables)
 12 Months Ended
Dec. 31, 2024
Discontinued Operations and Disposal Groups [Abstract]  
Schedule of Discontinued Operations
Our discontinued operations comprised the following:
(in Millions)Year Ended December 31,
202420232022
Adjustment for workers’ compensation, product liability, and other postretirement benefits and other, net of income tax benefit (expense) of $(2.5) in 2024, $(0.9) in 2023 and $(2.5) in 2022
$(5.2)$(3.0)$(3.9)
Provision for environmental liabilities, net of recoveries, net of income tax benefit (expense) of $8.7 in 2024, $18.0 in 2023, and $13.8 in 2022 (1)(2)
(32.8)(65.6)(53.8)
Provision for legal reserves and expenses, net of recoveries, net of income tax benefit (expense) of $6.3 in 2024, $7.9 in 2023, and $10.5 in 2022 (3)
(23.8)(29.9)(39.5)
Discontinued operations, net of income taxes$(61.8)$(98.5)$(97.2)
___________________________
(1)The provision for the year ended December 31, 2023 includes a $11.7 million charge resulting from a settlement agreement related to one of our foreign environmental remediation sites. The charge recorded adjusts the reserve to the anticipated payment amount. The agreement removes any future remediation obligations for the site.
(2)See a roll forward of our environmental reserves as well as discussion on significant environmental issues that occurred during the year in Note 10 to the consolidated financial statements included within this Form 10-K.
(3)Discontinued operations for the twelve months ended December 31, 2024 includes a gain of $18.0 million recognized as the result of an insurance settlement for retained legal reserves.
Schedule of Discontinued Reserve Balance Table
Reserves for Discontinued Operations, other than Environmental at December 31, 2024 and 2023
(in Millions)December 31,
20242023
Workers’ compensation, product liability, and indemnification reserves$7.1 $7.3 
Postretirement medical and life insurance benefits reserve, net3.1 4.4 
Reserves for legal proceedings144.0 123.9 
Reserve for discontinued operations (1)
$154.2 $135.6 
___________________________
(1)Included in "Other long-term liabilities" on the consolidated balance sheets. See Note 10 to the consolidated financial statements included within this Form 10-K on discontinued environmental reserves.
v3.25.0.1
Environmental Obligations (Tables)
 12 Months Ended
Dec. 31, 2024
Environmental Remediation Obligations [Abstract]  
Schedule of Environmental Liability Rollforward
The table below is a roll forward of our total environmental reserves, continuing and discontinued, from December 31, 2021 to December 31, 2024.
(in Millions)Operating and Discontinued Sites Total
Total environmental reserves, net of recoveries at December 31, 2021$503.2 
2022 Activity
Provision104.8 
Spending, net of recoveries(74.5)
Foreign currency translation adjustments(4.3)
Net change$26.0 
Total environmental reserves, net of recoveries at December 31, 2022$529.2 
2023 Activity
Provision152.3 
Spending, net of recoveries(92.6)
Foreign currency translation adjustments and other adjustments3.2 
Net change$62.9 
Total environmental reserves, net of recoveries at December 31, 2023$592.1 
2024 Activity
Provision116.0 
Spending, net of recoveries(88.5)
Foreign currency translation adjustments(6.5)
Net change$21.0 
Total environmental reserves, net of recoveries at December 31, 2024$613.1 
Schedule of Environmental Recoveries
The table below is a roll forward of our total recorded recoveries from December 31, 2022 to December 31, 2024:
(in Millions)December 31, 2022Increase (Decrease) in RecoveriesCash Received December 31, 2023Increase (Decrease) in RecoveriesCash Received December 31, 2024
Environmental liabilities, continuing and discontinued$13.9 $(3.1)$(1.1)$9.7 $0.5 $(0.1)$10.1 
Other assets (1)
6.4 2.1 (3.6)4.9 (0.1)(1.0)3.8 
Total$20.3 $(1.0)$(4.7)$14.6 $0.4 $(1.1)$13.9 
______________
(1)     The amounts are included within "Prepaid and other current assets" and "Other assets including long-term receivables, net" on the consolidated balance sheets. See Note 21 to the consolidated financial statements included within this Form 10-K for more details.
Schedule of Environmental Reserves Classification, Continuing And Discontinued
The table below provides detail of current and long-term environmental reserves, continuing and discontinued.
December 31,
(in Millions)20242023
Environmental reserves, current, net of recoveries (1)
$91.8 $97.4 
Environmental reserves, long-term continuing and discontinued, net of recoveries (2)
521.3 494.7 
Total environmental reserves, net of recoveries$613.1 $592.1 
___________________________
(1)These amounts are included within "Accrued and other liabilities" on the consolidated balance sheets.
(2)These amounts are included in "Environmental liabilities, continuing and discontinued" on the consolidated balance sheets.
Schedule of Net Environmental Provision by Operating And Discontinued Sites
Our net environmental provisions relate to costs for the continued remediation of both operating sites and for certain discontinued manufacturing operations from previous years. The net provisions are comprised as follows:
Year Ended December 31,
(in Millions)202420232022
Continuing operations (1)
$74.7 $66.9 $34.7 
Discontinued operations (2)
41.5 83.6 67.6 
Net environmental provision$116.2 $150.5 $102.3 
___________________________
(1)Recorded as a component of "Restructuring and other charges (income)" on our consolidated statements of income. See Note 7 to the consolidated financial statements included within this Form 10-K. 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.
(2)Recorded as a component of "Discontinued operations, net of income taxes" on our consolidated statements of income (loss). The year ended December 31, 2023 includes a $11.7 million charge resulting from a settlement agreement with the other party involved at one of our foreign environmental remediation sites. See Note 9 to the consolidated financial statements included within this Form 10-K for further details.
Schedule of Net Environmental Provision Balance Sheet Classification
On our consolidated balance sheets, the net environmental provisions affect assets and liabilities as follows:
Year Ended December 31,
(in Millions)202420232022
Environmental reserves (1)
$116.0 $152.3 $104.8 
Other assets (2)
0.2 (1.8)(2.5)
Net environmental provision$116.2 $150.5 $102.3 
___________________________
(1)See above roll forward of our total environmental reserves as presented on our consolidated balance sheets.
(2)Represents certain environmental recoveries. See Note 21 to the consolidated financial statements included within this Form 10-K for details of "Other assets including long-term receivables, net" as presented on our consolidated balance sheets.
v3.25.0.1
Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2024
Income Tax Disclosure [Abstract]  
Schedule of Income Before Income Tax, Domestic and Foreign
Domestic and foreign components of income (loss) from continuing operations before income taxes are shown below: 
 Year Ended December 31,
(in Millions)202420232022
Domestic$(271.6)$(312.7)$(89.6)
Foreign524.1 612.9 1,073.5 
Total$252.5 $300.2 $983.9 
Schedule of Components Of Income Tax Expense (Benefit)
The provision (benefit) for income taxes attributable to income (loss) from continuing operations consisted of: 
 Year Ended December 31,
(in Millions)202420232022
Current:
Federal$28.2 $58.5 $45.7 
Foreign160.2 113.9 152.1 
State1.0 1.1 0.1 
Total current$189.4 $173.5 $197.9 
Deferred:
Federal$(66.0)$(82.7)$(28.6)
Foreign(271.9)(1,212.0)(27.4)
State(2.4)1.9 3.3 
Total deferred$(340.3)$(1,292.8)$(52.7)
Total$(150.9)$(1,119.3)$145.2 
Schedule of Effective Income Tax Rate Reconciliation
The effective income tax rate applicable to income from continuing operations before income taxes was different from the statutory U.S. federal income tax rate due to the factors listed in the following table: 
 Year Ended December 31,
(in Millions)202420232022
U.S. Federal statutory rate$53.0 $63.0 $206.6 
Foreign earnings subject to different tax rates (1)
(137.3)(130.7)(152.7)
State and local income taxes, less federal income tax benefit(7.7)2.5 5.5 
Research and development and miscellaneous tax credits(5.7)(5.4)(5.7)
Tax on dividends, deemed dividends, and GILTI (2)
41.9 37.0 24.6 
Changes to unrecognized tax benefits9.6 10.5 10.5 
Nondeductible expenses9.3 9.3 19.6 
Change in valuation allowance (3)
639.7 172.5 71.3 
Exchange gains and losses (4)
30.3 (18.4)(12.0)
Impact of Switzerland tax incentives (5)
(645.0)(1,149.2)— 
Other (6)
(139.0)(110.4)(22.5)
Total Tax Provision$(150.9)$(1,119.3)$145.2 
___________________________
(1)A significant amount of our earnings is generated by our foreign subsidiaries (e.g., Switzerland, Singapore, Hong Kong), which tax earnings at lower statutory rates than the United States federal statutory rate. Our future effective tax rates may be materially impacted by a future change in the composition of earnings from foreign and domestic tax jurisdictions.
(2)The years ended December 31, 2024, 2023, and 2022 includes tax expense of $18.1 million, $25.5 million, and $17.8 million, respectively, associated with the global intangible low-taxed income (GILTI) provisions.
(3)The year ended December 31, 2024 is primarily related to the estimated portion of nonrefundable tax credits within our Swiss operations that are not expected to be utilized, the impact of the step-up in tax basis to the fair value of the transferred intellectual property by the Company’s Swiss subsidiary, and net operating losses within our full valuation allowance Luxembourg operations. The year ended December 31, 2023 is primarily related to the estimated portion of nonrefundable tax credits within our Swiss operations that are not expected to be utilized and net operating losses and other deferred tax assets within our Argentina operations, partially offset by the release of the valuation allowance within our Brazil operations, as described further below. The year ended December 31, 2022 is primarily related to net operating losses and other deferred tax assets within our Brazil and Argentina operations.
(4)Includes the impact of transaction gains or losses on net monetary assets for which no corresponding tax expense or benefit is realized and the tax provision for statutory taxable gains or losses in foreign jurisdictions for which there is no corresponding amount in income before taxes.
(5)The year ended December 31, 2024 represents the recognition of a step-up in tax basis to the fair value of the transferred intellectual property by the Company's Swiss subsidiary. The year ended December 31, 2023 is related to ten-year nonrefundable tax credits granted to the Company's Swiss subsidiaries, as discussed above.
(6)The year ended December 31, 2024 includes a U.S. capital loss in the amount of $38.6 million and additional amounts materially attributable to internal restructuring in our full valuation allowance Luxembourg entities. The year ended December 31, 2023 includes a net decrease of approximately $120 million related to adjustments of deferred tax balances in Singapore, Puerto Rico, and Switzerland. The year ended December 31, 2022 included a $39.7 million decrease related to certain deferred tax liabilities as a result of the extension of our incentive tax rate in Puerto Rico.
Schedule of Deferred Tax Assets and Liabilities
Significant components of our deferred tax assets and liabilities were attributable to:
 December 31,
(in Millions)20242023
Reserves for discontinued operations, environmental and restructuring$190.1 $144.7 
Accrued pension and other postretirement benefits5.3 9.8 
Capital loss, foreign tax and other credit carryforwards1,128.1 1,136.0 
Net operating loss carryforwards564.1 411.2 
Deferred expenditures capitalized for tax108.6 94.5 
Intangibles, Property, plant and equipment, and Investments, net387.9 — 
Other accruals and reserves267.5 234.0 
Deferred tax assets$2,651.6 $2,030.2 
Valuation allowance, net(1,213.8)(588.4)
Deferred tax assets, net of valuation allowance$1,437.8 $1,441.8 
Intangibles, Property, plant and equipment, and Investments, net— 263.3 
Deferred tax liabilities$— $263.3 
Net deferred tax assets (liabilities)$1,437.8 $1,178.5 
Schedule of Unrecognized Tax Benefits
A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows: 
December 31,
(in Millions)202420232022
Balance at beginning of year$51.2 $46.1 $41.9 
Increases related to positions taken in the current year8.6 2.4 4.8 
Increases and decreases related to positions taken in prior years(1.2)3.5 2.9 
Decreases related to lapse of statutes of limitations(5.5)(0.8)(3.5)
Settlements during the current year— — — 
Decreases for tax positions on dispositions— — — 
Balance at end of year (1)
$53.1 $51.2 $46.1 
___________________________
(1)At December 31, 2024, 2023, and 2022 we recognized an offsetting non-current asset of $10.5 million, $12.9 million, and $12.8 million respectively, relating to the indirect income tax benefits associated with specific uncertain tax positions presented above.
v3.25.0.1
Debt (Tables)
 12 Months Ended
Dec. 31, 2024
Debt Disclosure [Abstract]  
Schedule of Debt Maturing Within One Year
Debt maturing within one year consists of the following:
December 31,
(in Millions)20242023
Short-term foreign debt (1)
$135.7 $98.0 
Commercial paper (2)
125.6 739.5 
Total short-term debt$261.3 $837.5 
Current portion of long-term debt76.1 96.5 
Total short-term debt and current portion of long-term debt (3)
$337.4 $934.0 
___________________________
(1)At December 31, 2024, the average effective interest rate on the borrowings was 10.6 percent.
(2)At December 31, 2024, the average effective interest rate on the borrowings was 5.0 percent.
(3)Based on cash generated from operations, our existing liquidity facilities, which includes the revolving credit agreement with the option to increase capacity up to $2.75 billion, and our continued access to debt capital markets, we have adequate liquidity to meet any of the Company's debt obligations in the near term including any current portion of long-term debt.
Schedule of Long-Term Debt
Long-term debt consists of the following:
(in Millions)December 31, 2024December 31,
Interest Rate
Percentage
Maturity
Date
20242023
Pollution control and industrial revenue bonds (less unamortized discounts of $0.1 and $0.1, respectively)
6.45%
 2032
$49.9 $49.9 
Senior notes (less unamortized discounts of $1.6 and $1.8, respectively)
3.2% - 6.4%
2026 - 2053
2,998.4 2,998.2 
Revolving Credit Facility (1)
7.1%2027— — 
Foreign debt
12.2% - 12.6%
2025
76.1 96.5 
Debt issuance cost(20.4)(24.5)
Total long-term debt$3,104.0 $3,120.1 
Less: debt maturing within one year76.1 96.5 
Total long-term debt, less current portion$3,027.9 $3,023.6 
___________________________
(1)Letters of credit outstanding under the Revolving Credit Facility totaled $210.1 million and available funds under this facility were $1,664.3 million at December 31, 2024.
v3.25.0.1
Pension and Other Postretirement Benefits (Tables)
 12 Months Ended
Dec. 31, 2024
Retirement Benefits [Abstract]  
Schedule of Weighted Average Assumptions Used
The following table summarizes the weighted-average assumptions used to determine the benefit obligations at December 31 for the U.S. Plans:
Pensions and Other Benefits
December 31,
20242023
Discount rate qualified5.60 %4.97 %
Discount rate nonqualified plan5.31 %4.78 %
Discount rate other benefits5.40 %4.83 %
Rate of compensation increase3.10 %3.10 %
Schedule of Benefit Obligations In Excess of Fair Value of Plan Assets
The following table summarizes the components of our defined benefit postretirement plans and reflect a measurement date of December 31:
Pensions
Other Benefits (1)
December 31,
(in Millions)2024202320242023
Change in projected benefit obligation
Projected benefit obligation at January 1$1,032.2 $1,044.3 $9.2 $11.2 
Service cost1.8 2.6 — — 
Interest cost48.2 50.4 0.4 0.5 
Actuarial loss (gain) (2)
(45.2)19.0 (1.4)(1.4)
Foreign currency exchange rate changes and other(0.4)— — — 
Plan participants’ contributions— — 0.3 0.3 
Settlements(3.1)(1.0)— — 
Benefits paid(83.6)(83.1)(1.3)(1.4)
Projected benefit obligation at December 31$949.9 $1,032.2 $7.2 $9.2 
Change in plan assets
Fair value of plan assets at January 1$1,041.3 $1,044.1 $— $(0.1)
Actual return on plan assets3.6 79.2 — — 
Foreign currency exchange rate changes0.2 0.3 — — 
Company contributions4.6 1.2 0.9 1.2 
Plan participants’ contributions— — 0.4 0.3 
Settlements(3.1)(0.4)— — 
Benefits paid(83.6)(83.1)(1.3)(1.4)
Fair value of plan assets at December 31$963.0 $1,041.3 $— $— 
Funded Status
U.S. plans with assets$31.7 $30.7 $— $— 
U.S. plans without assets(12.3)(14.7)(7.2)(9.2)
Non-U.S. plans with assets(1.0)(1.6)— — 
All other plans(5.3)(5.3)— — 
Net funded status of the plan (liability)$13.1 $9.1 $(7.2)$(9.2)
Amount recognized on the consolidated balance sheets:
Pension asset (3)
$31.7 $30.7 $— $— 
Accrued benefit liability (4)
(18.6)(21.6)(7.2)(9.2)
Total$13.1 $9.1 $(7.2)$(9.2)
___________________________
(1)Refer to Note 9 to the consolidated financial statements included within this Form 10-K for information on our discontinued postretirement benefit plans.
(2)The actuarial gain in 2024 and loss in 2023 were primarily driven by the change in discount rate on the U.S. qualified plan.
(3)Recorded as "Other assets including long-term receivables, net" on the consolidated balance sheets.
(4)Recorded as "Accrued pension and other postretirement benefits, current" and "Accrued pension and other postretirement benefits, long-term" on the consolidated balance sheets.
The amounts in accumulated other comprehensive income (loss) that have not yet been recognized as components of net periodic benefit cost are as follows:
 Pensions
Other Benefits (1)
 December 31,
(in Millions)2024202320242023
Prior service (cost) credit$(0.1)$(0.1)$— $— 
Net actuarial (loss) gain(291.3)(309.9)5.6 5.3 
Accumulated other comprehensive income (loss) – pretax$(291.4)$(310.0)$5.6 $5.3 
Accumulated other comprehensive income (loss) – net of tax$(215.1)$(229.9)$4.2 $3.9 
___________________________
(1)     Refer to Note 9 to the consolidated financial statements included within this Form 10-K for information on our discontinued postretirement benefit plans.
(in Millions)December 31
20242023
Projected benefit obligations$22.5 $25.2 
Accumulated benefit obligations23.1 26.1 
Fair value of plan assets3.9 3.6 
Schedule of Changes In Plan Assets and Benefit Obligations For Continuing Operations Recognized In Other Comprehensive Loss (Income)
Other changes in plan assets and benefit obligations for continuing operations recognized in other comprehensive loss (income) are as follows:
 Pensions
Other Benefits (1)
 Year Ended December 31,
(in Millions)2024202320242023
Current year net actuarial loss (gain)$(3.8)$(12.2)$(1.4)$(1.4)
Amortization of net actuarial (loss) gain(14.2)(15.5)1.1 1.0 
Amortization of prior service (cost) credit— (0.1)— — 
Settlement loss(0.6)(0.1)— — 
Total recognized in other comprehensive (income) loss, before taxes$(18.6)$(27.9)$(0.3)$(0.4)
Total recognized in other comprehensive (income) loss, after taxes$(14.8)$(22.8)$(0.3)$(0.3)
___________________________
(1)     Refer to Note 9 to the consolidated financial statements included within this Form 10-K for information on our discontinued postretirement benefit plans.
Schedule of Weighted-average Assumptions Used For And Components of Net Annual Benefit Cost (Income)
The following table summarizes the weighted-average assumptions used for and the components of net annual benefit cost (income):
 Year Ended December 31,
 Pensions
Other Benefits (1)
(in Millions, except for percentages)202420232022202420232022
Discount rate 4.97 %5.16 %2.84 %5.40 %5.03 %2.39 %
Expected return on plan assets4.50 %4.75 %2.50 %— — — 
Rate of compensation increase3.10 %3.10 %3.10 %— — — 
Components of net annual benefit cost:
Service cost$1.8$2.6$3.6$—$—$—
Interest cost48.250.429.30.40.50.3
Expected return on plan assets(44.5)(47.5)(33.1)———
Amortization of prior service cost—0.10.2———
Amortization of net actuarial and other (gain) loss14.215.312.4(1.1)(0.9)(0.8)
Recognized (gain) loss due to curtailments, settlements, and other (2)
1.00.40.5
Net annual benefit cost (income)$20.7$21.3$12.9$(0.7)$(0.4)$(0.5)
___________________________
(1)     Refer to Note 9 to the consolidated financial statements included within this Form 10-K for information on our discontinued postretirement benefit plans.
(2)    During the year ended December 31, 2023, as a result of restructuring activities planned in connection with Project Focus, we triggered a curtailment of our U.S. pension plans. The associated curtailment expense is recorded within "Non-operating pension and postretirement charges (income)" on the consolidated statements of income (loss).
Schedule of Fair Value of Pension Plan Assets by Asset Class
The following tables present our fair value hierarchy for our major categories of pension plan assets by asset class. See Note 18 to the consolidated financial statements included within this Form 10-K for the definition of fair value and the descriptions of Level 1, 2 and 3 in the fair value hierarchy.
(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)
Cash and short-term investments$43.5 $43.5 $— $— 
Fixed income investments:
Investment contracts108.6 — 108.6 — 
U.S. Government Securities138.8 138.8 — — 
Mutual funds13.7 13.7 — — 
Corporate debt instruments658.4 — 658.4 — 
Total assets$963.0 $196.0 $767.0 $— 
(in Millions)December 31, 2023Quoted Prices
in Active
Markets for
Identical
Assets
(Level 1)		Significant
Other
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)
Cash and short-term investments$3.0 $3.0 $— $— 
Fixed income investments:
Investment contracts114.9 — 114.9 — 
U.S. Government Securities 204.6 204.6 — — 
Mutual funds 13.1 13.1 — — 
Corporate debt instruments705.7 — 705.7 — 
Total assets$1,041.3 $220.7 $820.6 $— 
Schedule of Contributions To Pension And Other Postretirement Benefit Plans
We made the following contributions to our pension and other postretirement benefit plans:
  
Year Ended December 31,
(in Millions)20242023
U.S. qualified pension plan$— $— 
U.S. nonqualified pension plan4.3 1.1 
Non-U.S. plans0.3 0.1 
Other postretirement benefits0.9 1.2 
Total$5.5 $2.4 
Schedule of Estimated Net Future Benefit Payments
The following table reflects the estimated future benefit payments for our pension and other postretirement benefit plans. These estimates take into consideration expected future service, as appropriate:
Estimated Net Future Benefit Payments
(in Millions)202520262027202820292030 - 2034
Pension Benefits$85.9 $85.8 $83.5 $82.6 $80.3 $375.3 
Other Benefits0.9 1.0 0.9 0.9 0.8 3.0 
v3.25.0.1
Share-based Compensation (Tables)
 12 Months Ended
Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Schedule of Compensation Cost For Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan
We recognized the following stock compensation expense:
Year Ended December 31,
(in Millions)202420232022
Stock option expense, net of taxes of $1.6 in 2024, $1.5 in 2023 and $1.3 in 2022 (1)
$6.1 $5.9 $4.9 
Restricted stock expense, net of taxes of $2.6 in 2024, $2.4 in 2023 and $2.3 in 2022 (2)
9.8 9.0 8.5 
Performance based expense, net of taxes of $0.8 in 2024, $1.5 in 2023 and $1.5 in 2022
2.9 5.6 5.7 
Total stock compensation expense, net of taxes of $5.0 in 2024, $5.4 in 2023 and $5.1 in 2022 (3)
$18.8 $20.5 $19.1 
___________________________
(1)We applied an estimated forfeiture rate of 4.0% per stock option grant in the calculation of the expense.
(2)We applied an estimated forfeiture rate of 2.0% of outstanding restricted stock grants in the calculation of the expense.
(3)This expense is classified as "Selling, general and administrative expenses" in our consolidated statements of income (loss).
Schedule of Black Scholes Valuation Assumptions for Stock Option Grants
Black Scholes valuation assumptions for stock option grants: 
202420232022
Expected dividend yield4.43 %1.80 %1.85 %
Expected volatility34.08 %31.99 %33.18 %
Expected life (in years)6.46.56.5
Risk-free interest rate4.26 %4.00 %1.91 %
Schedule of Stock Option Activity
The following summary shows stock option activity for employees under the Plan for the three years ended December 31, 2024:
(Shares in Thousands)Number of Options Granted But Not ExercisedWeighted-Average Remaining Contractual LifeWeighted-Average Exercise Price Per ShareAggregate Intrinsic Value (in Millions)
December 31, 2021 (605 shares exercisable and 622 shares expected to vest or be exercised)
1,254 6.2 years$78.95 $38.8 
Granted248 114.90 
Exercised(166)62.74 9.6 
Forfeited(31)102.32 
December 31, 2022 (672 shares exercisable and 607 shares expected to vest or be exercised)
1,305 6.1 years$87.35 $48.9 
Granted222 128.92 
Exercised(88)62.42 4.6 
Forfeited(43)114.15 
December 31, 2023 (824 shares exercisable and 551 shares expected to vest or be exercised)
1,396 5.6 years$94.73 $1.6 
Granted1,181 52.50 
Exercised(5)36.85 — 
Forfeited(101)79.32 
December 31, 2024 (1,299 shares exercisable and 1,098 shares expected to vest or be exercised)
2,471 6.3 years$75.28 $0.5 
Schedule of Restricted Award Activity
The following table shows our employee restricted award activity for the three years ended December 31, 2024:
Restricted EquityPerformance Based Equity
(Number of Awards in Thousands)
Number of
awards
Weighted-Average Grant Date Fair Value Per ShareNumber of
awards		Weighted-Average Grant Date Fair Value Per Share
Nonvested at December 31, 2021270 $89.56 195 $96.18 
Granted103 114.50 45 140.32 
Vested(102)77.80 (102)83.74 
Forfeited(14)102.64 (2)125.60 
Nonvested at December 31, 2022257 $104.54 136 $120.47 
Granted118 110.71 81 137.18 
Vested(78)93.32(58)108.57
Forfeited(15)114.88 (6)136.25 
Nonvested at December 31, 2023282 $109.67 153 $131.60 
Granted297 53.41 105 50.01 
Vested(99)100.69 (15)100.63 
Forfeited(22)86.19 (7)62.06 
Nonvested at December 31, 2024458 $76.34 236 $85.65 
v3.25.0.1
Equity (Tables)
 12 Months Ended
Dec. 31, 2024
Equity [Abstract]  
Schedule of Stock by Class
The following is a summary of our capital stock activity over the past three years:
Common
Stock Shares
Treasury
Stock Shares
December 31, 2021185,983,792 60,284,313 
Stock options and awards— (286,805)
Repurchases of common stock, net— 875,480 
December 31, 2022185,983,792 60,872,988 
Stock options and awards— (301,008)
Repurchases of common stock, net— 651,052 
December 31, 2023185,983,792 61,223,032 
Stock options and awards— (122,288)
Repurchases of common stock, net— 42,146 
December 31, 2024185,983,792 61,142,890 
Schedule of Accumulated Other Comprehensive Income (Loss)
Summarized below is the roll forward of accumulated other comprehensive income (loss), net of tax.
(in Millions)Foreign currency adjustments
Derivative Instruments (1)
Pension and other postretirement benefits (2)
Total
Accumulated other comprehensive income (loss), net of tax at December 31, 2021$(62.5)5.2$(22.2)$(240.8)$(325.5)
2022 Activity
Other comprehensive income (loss) before reclassifications$(102.2)$(65.4)$(15.7)$(183.3)
Amounts reclassified from accumulated other comprehensive income (loss)4.2 35.9 9.1 49.2 
Accumulated other comprehensive income (loss), net of tax at December 31, 2022$(160.5)$(51.7)$(247.4)$(459.6)
2023 Activity
Other comprehensive income (loss) before reclassifications$29.2 $(72.4)$11.4 $(31.8)
Amounts reclassified from accumulated other comprehensive income (loss)— 73.9 11.0 84.9 
Accumulated other comprehensive income (loss), net of tax at December 31, 2023$(131.3)$(50.2)$(225.0)$(406.5)
2024 Activity
Other comprehensive income (loss) before reclassifications$(52.6)$33.2 $4.9 $(14.5)
Amounts reclassified from accumulated other comprehensive income (loss)— (0.5)10.9 10.4 
Accumulated other comprehensive income (loss), net of tax at December 31, 2024$(183.9)$(17.5)$(209.2)$(410.6)
___________________________
(1)See Note 18 to the consolidated financial statements included within this Form 10-K for more information.
(2)See Note 13 to the consolidated financial statements included within this Form 10-K for more information.
Schedule of Reclassification out of Accumulated Other Comprehensive Income
The table below provides details about the reclassifications from accumulated other comprehensive income (loss) and the affected line items on 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 on the Consolidated Statements of Income (Loss)
Year Ended December 31,
(in Millions)202420232022
Foreign currency translation adjustments:
Exit from Russian Operations (2)
$— $— $(4.2)Restructuring and other charges (income)
Derivative instruments:
Gain (loss) on foreign currency contracts$3.0 $(110.5)$(57.5)Costs of sales and services
Gain (loss) on foreign currency contracts— 7.3 6.5 Selling, general and administrative expenses
Gain (loss) on interest rate contracts(1.9)(2.4)(4.0)Interest expense, net
Total before tax$1.1 $(105.6)$(55.0)
(0.6)31.7 19.1 Provision for income taxes
Amount included in net income$0.5 $(73.9)$(35.9)
Pension and other postretirement benefits (3):
Amortization of prior service costs$— $(0.1)$(0.1)Selling, general and administrative expenses
Amortization of unrecognized net actuarial and other gains (losses)(12.7)(13.8)(10.9)Non-operating pension and postretirement charges (income)
Recognized loss due to curtailment and settlement(1.0)— (0.5)Non-operating pension and postretirement charges (income); Discontinued operations, net of income taxes
Total before tax$(13.7)$(13.9)$(11.5)
2.8 2.9 2.4 Provision for income taxes; Discontinued operations, net of income taxes
Amount included in net income$(10.9)$(11.0)$(9.1)
Total reclassifications for the period$(10.4)$(84.9)$(49.2)Amount included in net income
___________________________
(1)Amounts in parentheses indicate charges to the consolidated statements of income (loss).
(2)The reclassification of historical cumulative translation adjustments was the result of the exit from our Russian operations. See Note 7 within these consolidated financial statements for more information.
(3)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 13 to the consolidated financial statements included within this Form 10-K.
v3.25.0.1
Leases (Tables)
 12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
Schedule of Asset and Lease Liability
The ROU asset and lease liability balances as of December 31, 2024 and 2023 were as follows:
(in Millions)ClassificationDecember 31, 2024December 31, 2023
Assets
Operating lease ROU assetsOther assets including long-term receivables, net$110.4 $121.8 
Liabilities
Operating lease current liabilitiesAccrued and other liabilities$24.5 $24.4 
Operating lease noncurrent liabilitiesOther long-term liabilities106.1 123.2 
Schedule of Components of Lease Expense, Lease Term and Discount Rate
The components of lease expense for the year ended December 31, 2024, 2023, and 2022 were as follows:
(in Millions)Lease Cost Classification202420232022
Lease Cost
Operating lease costCosts of sales and services / Selling, general and administrative expenses$36.1 $33.2 $32.9 
Variable lease costCosts of sales and services / Selling, general and administrative expenses12.6 13.3 6.3 
Total lease cost$48.7 $46.5 $39.2 
December 31, 2024
Operating Lease Term and Discount Rate
Weighted-average remaining lease term (years)6.5
Weighted-average discount rate4.8 %
(in Millions)Year ended December 31, 2024Year ended December 31, 2023
Other Information
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$(41.2)$(35.9)
Supplemental non-cash information on lease liabilities arising from obtaining right-of-use assets:
Right-of-use assets obtained in exchange for new operating lease liabilities$14.2 $21.4 
Schedule of Future Minimum Lease Payments
The following table represents our future minimum operating lease payments as of, and subsequent to, December 31, 2024 under ASC 842:
(in Millions) Operating Leases Total
Maturity of Lease Liabilities
2025$29.8 
202625.3 
202722.3 
202818.6 
202917.0 
Thereafter39.7 
Total undiscounted lease payments$152.7 
Less: Present value adjustment(22.1)
Present value of lease liabilities$130.6 
v3.25.0.1
Earnings Per Share (Tables)
 12 Months Ended
Dec. 31, 2024
Earnings Per Share [Abstract]  
Schedule of Basic and Diluted Earnings Per Share
Earnings applicable to common stock and common stock shares used in the calculation of basic and diluted earnings per share are as follows:
(in Millions, Except Share and Per Share Data)Year Ended December 31,
202420232022
Earnings (loss) attributable to FMC stockholders:
Continuing operations, net of income taxes$402.9 $1,420.0 $833.7 
Discontinued operations, net of income taxes(61.8)(98.5)(97.2)
Net income (loss) attributable to FMC stockholders$341.1 $1,321.5 $736.5 
Less: Distributed and undistributed earnings allocable to restricted award holders(1.2)(2.7)(1.7)
Net income (loss) allocable to common stockholders$339.9 $1,318.8 $734.8 
Basic earnings (loss) per common share attributable to FMC stockholders:
Continuing operations$3.22 $11.34 $6.60 
Discontinued operations(0.49)(0.79)(0.77)
Net income (loss)$2.73 $10.55 $5.83 
Diluted earnings (loss) per common share attributable to FMC stockholders:
Continuing operations$3.21 $11.31 $6.58 
Discontinued operations(0.49)(0.78)(0.77)
Net income (loss)$2.72 $10.53 $5.81 
Shares (in thousands):
Weighted average number of shares of common stock outstanding - Basic125,004 125,060 125,975 
Weighted average additional shares assuming conversion of potential common shares354 473 732 
Shares – diluted basis125,358 125,533 126,707 
v3.25.0.1
Financial Instruments, Risk Management and Fair Value Measurements (Tables)
 12 Months Ended
Dec. 31, 2024
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 InstrumentValuation Method
Foreign exchange forward contractsEstimated 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 and option contractsEstimated amounts that would be received or paid to terminate the contracts at the reporting date based on quoted market prices for applicable commodities.
DebtOur 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 Fair Value and Balance Sheet Presentation
The following tables provide the gross fair value and net balance sheet presentation of our derivative instruments as of December 31, 2024 and 2023:
December 31, 2024
Gross Amount of Derivatives
(in Millions)Designated as Cash Flow HedgesNot Designated as Hedging InstrumentsTotal Gross AmountsGross Amounts Subject to Master Netting ArrangementsNet Amounts
Derivatives
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 
December 31, 2023
Gross Amount of Derivatives
(in Millions)Designated as Cash Flow HedgesNot Designated as Hedging InstrumentsTotal Gross AmountsGross Amounts Subject to Master Netting ArrangementsNet Amounts
Derivatives
Foreign exchange contracts$2.7 $3.0 $5.7 $(5.5)$0.2 
Total derivative assets (1)
$2.7 $3.0 $5.7 $(5.5)$0.2 
Foreign exchange contracts$(9.7)$(7.4)$(17.1)$5.5 $(11.6)
Total derivative liabilities (2)
$(9.7)$(7.4)$(17.1)$5.5 $(11.6)
Net derivative assets (liabilities)$(7.0)$(4.4)$(11.4)$— $(11.4)
____________________
(1)    Balance is included in "Prepaid and other current assets" on the consolidated balance sheets.
(2)    Balance is included in "Accrued and other liabilities" on the consolidated balance sheets.
Schedule of Derivative Instruments, Gain (Loss) In Consolidated Statements Of Income
The following tables 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
(in Millions)Foreign exchangeInterest rateTotal
Accumulated other comprehensive income (loss), net of tax at December 31, 2021$31.1 $(53.3)$(22.2)
2022 Activity
Unrealized hedging gains (losses) and other, net of tax$(86.3)$20.9 $(65.4)
Reclassification of deferred hedging (gains) losses, net of tax (1)
32.8 3.1 35.9 
Total derivative instrument impact on comprehensive income, net of tax$(53.5)$24.0 $(29.5)
Accumulated other comprehensive income (loss), net of tax at December 31, 2022$(22.4)$(29.3)$(51.7)
2023 Activity
Unrealized hedging gains (losses) and other, net of tax$(72.0)$(0.4)$(72.4)
Reclassification of deferred hedging (gains) losses, net of tax (1)
72.0 1.9 73.9 
Total derivative instrument impact on comprehensive income, net of tax$— $1.5 $1.5 
Accumulated other comprehensive income (loss), net of tax at December 31, 2023$(22.4)$(27.8)$(50.2)
2024 Activity
Unrealized hedging gains (losses) and other, net of tax$33.2 $— $33.2 
Reclassification of deferred hedging (gains) losses, net of tax (1)
(2.1)1.6 (0.5)
Total derivative instrument impact on comprehensive income, net of tax$31.1 $1.6 $32.7 
Accumulated other comprehensive income (loss), net of tax at December 31, 2024$8.7 $(26.2)$(17.5)
___________________________
(1)Amounts are included in "Costs of sales and services", "Selling, general and administrative expenses", and "Interest expense" on the consolidated statements of income (loss).

Derivatives Not Designated as Hedging Instruments
Amount of Pre-tax Gain (Loss) 
Recognized in Income on Derivatives (1)
Year Ended December 31,
(in Millions)202420232022
Foreign exchange contracts$(6.1)$(33.7)$(37.2)
Total$(6.1)$(33.7)$(37.2)
___________________________
(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 Assets and Liabilities Measured at Fair Value 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 our consolidated balance sheets:
(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 $— 
Derivatives - Interest Rate (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)
$— $— $— $— 
Derivatives - Interest Rate (1)
— — — — 
Other (2)
23.2 23.2 — — 
Total Liabilities$23.2 $23.2 $— $— 
(in Millions)December 31, 2023
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)
$0.2 $— $0.2 $— 
Derivatives - Interest Rate (1)
— — — — 
Other (2) (3)
47.1 23.8 — 23.3 
Total Assets$47.3 $23.8 $0.2 $23.3 
Liabilities
Derivatives – Foreign exchange (1)
$11.6 $— $11.6 $— 
Derivatives - Interest Rate (1)
— — — — 
Other (2)
24.4 24.4 — — 
Total Liabilities$36.0 $24.4 $11.6 $— 
____________________
(1)See the Fair Value of Derivative Instruments table within this Note for classifications on our consolidated balance sheets.
(2)Includes a deferred compensation arrangement, through which we hold various investment securities, recognized on our balance sheet. Both the asset and liability are recorded at fair value. Asset amounts included in "Other assets including long-term receivables, net" on the consolidated balance sheets. Liability amounts are included in "Other long-term liabilities" on 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. Asset amounts are included in "Other assets including long-term receivables, net" on 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.
v3.25.0.1
Guarantees, Commitments and Contingencies (Tables)
 12 Months Ended
Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Estimated Undiscounted Potential Future Payments for Guarantees
The following table provides the estimated undiscounted amount of potential future payments for each major group of guarantees at December 31, 2024. These guarantees arise during the ordinary course of business from relationships with customers and nonconsolidated affiliates. Non-performance by the guaranteed party triggers the obligation requiring us to make payments to the beneficiary of the guarantee. Based on our experience these types of guarantees have not had a material effect on our consolidated financial position or on our liquidity. Our expectation is that future payment or performance related to the non-performance of others is considered unlikely.
(in Millions)
Guarantees:
Guarantees of vendor financing - short term (1)
$85.5 
Other debt guarantees (2)
72.4 
Total$157.9 
____________________
(1)Represents guarantees to financial institutions on behalf of certain customers for their seasonal borrowing. The short-term amount is recorded as "Guarantees of vendor financing" on the consolidated balance sheets.
(2)These guarantees represent the outstanding commitment provided to third-party banks for credit extended to various direct and indirect customers and nonconsolidated affiliates. The liability for the guarantees is recorded at an amount that approximates fair value (i.e. representing the stand-ready obligation) based on our historical collection experience and a current assessment of credit exposure. Historically, the fair value of these guarantees has been and continues to be in the current reporting period, immaterial and the majority of these guarantees have had an expiration date of less than one year.
v3.25.0.1
Segment Information (Tables)
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Schedule of Revenue From External Customers and Long-lived Assets, by Geographical Areas
The following table provides our long-lived assets by major geographical region:
(in Millions)December 31,
20242023
Long-lived assets (1)
North America (2)
$956.0 $1,063.4 
Latin America278.8 714.8 
Europe, Middle East, and Africa (2)
3,685.4 1,718.2 
Asia (2)
251.0 1,964.1 
Total$5,171.2 $5,460.5 
___________________________
(1)Geographic long-lived assets exclude long-term deferred income taxes.
(2)The countries with long-lived assets in excess of 10 percent of consolidated long-lived assets at December 31, 2024 and 2023 are Singapore, which totaled $5.0 million and $1,699.6 million, the U.S., which totaled $941.6 million and $1,036.7 million and Denmark, which totaled $1,280.1 million and $1,334.0 million, respectively. In connection with our plans to establish a global technology and innovation center in Switzerland, we completed intra-entity transfers of certain intellectual property to one of the Company's Swiss subsidiaries during 2024. At December 31, 2024, Switzerland had long-lived assets in excess of 10 percent of consolidated long-lived assets totaling $2,050.8 million.
v3.25.0.1
Supplemental Information (Tables)
 12 Months Ended
Dec. 31, 2024
Balance Sheet Related Disclosures [Abstract]  
Schedule of Supplemental Information
The following tables present details of prepaid and other current assets, other assets including long-term receivables, net, accrued and other liabilities and other long-term liabilities as presented on the consolidated balance sheets:
(in Millions)December 31,
20242023
Prepaid and other current assets
Prepaid insurance$12.7 $15.3 
Tax related items including value added tax receivables262.3 241.9 
Refund asset (1)
113.1 59.5 
Environmental obligation recoveries (Note 10)1.0 1.5 
Derivative assets (Note 18)47.0 5.7 
Other prepaid and current assets60.1 75.0 
Total$496.2 $398.9 
(in Millions)December 31,
20242023
Other assets including long-term receivables, net
Non-current receivables (Note 8)$39.7 $19.5 
Advance to contract manufacturers17.4 97.1 
Capitalized software, net112.1 123.3 
Environmental obligation recoveries (Note 10)2.8 3.4 
Beneficial interest in trade receivables securitization (Note 18)36.0 23.3 
Income taxes indirect benefits35.2 19.7 
Operating lease ROU asset (Note 16)110.4 121.8 
Deferred compensation arrangements (Note 18)22.3 23.8 
Pension and other postretirement benefits (Note 13)31.7 30.7 
Other long-term assets20.6 26.9 
Total$428.2 $489.5 
___________________________
(1)In accordance with revenue standard requirements, a sales return liability is recognized for the consideration paid by a customer to which FMC does not expect to be entitled, together with a corresponding refund asset to recover the product from the customer. See (1) below.
(in Millions)December 31,
20242023
Accrued and other liabilities
Restructuring reserves (Note 7)$58.3 $47.4 
Dividend payable (Note 15)72.6 72.5 
Accrued payroll62.2 55.5 
Environmental reserves, current, net of recoveries (Note 10)91.8 97.4 
Derivative liabilities (Note 18)12.9 17.1 
Furadan® product exit asset retirement obligations (Note 1)
4.0 5.0 
Operating lease current liabilities (Note 16)24.5 24.4 
Other accrued and other liabilities (1)
428.9 365.5 
Total$755.2 $684.8 
(in Millions)December 31,
20242023
Other long-term liabilities
Restructuring reserves (Note 7)$92.8 $3.0 
Furadan® product exit asset retirement obligations (Note 1)
3.5 1.4 
Transition tax related to Tax Cuts and Jobs Act (2)
— 23.3 
Contingencies related to uncertain tax positions 58.3 62.4 
Deferred compensation arrangements (Note 18)23.2 24.4 
Self-insurance reserves (primarily workers' compensation)2.6 2.3 
Lease obligations (Note 16)106.1 123.2 
Reserve for discontinued operations (Note 9)154.2 135.6 
Unfavorable contracts5.5 5.6 
Other long-term liabilities24.5 26.2 
Total$470.7 $407.4 
___________________________
(1)Other accrued and other liabilities includes our estimated liability for sales returns.
(2)Represents the final noncurrent portion of overall transition tax in 2023.
v3.25.0.1
Quarterly Financial Information (Unaudited) (Tables)
 12 Months Ended
Dec. 31, 2024
Quarterly Financial Information Disclosure [Abstract]  
Schedule of Quarterly Financial Information
(in Millions, Except Share and Per Share Data)20242023
1Q2Q3Q4Q1Q2Q3Q4Q
Revenue$918.0 $1,038.4 $1,065.4 $1,224.3 $1,344.3 $1,014.5 $981.9 $1,146.1 
Gross margin339.7 398.1 386.4 524.7 581.3 432.8 381.2 435.7 
Income (loss) from continuing operations before equity in (earnings) loss of affiliates, non-operating pension and postretirement charges (income), interest expense, net and income taxes74.0 62.3 135.6 234.6 304.5 132.2 100.8 18.1 
Income (loss) from continuing operations9.4 298.0 66.5 29.5 207.4 53.9 4.6 1,153.6 
Discontinued operations, net of income taxes(12.5)(2.8)(0.9)(45.6)(11.5)(21.5)(8.3)(57.2)
Net income (loss) $(3.1)$295.2 $65.6 $(16.1)$195.9 $32.4 $(3.7)$1,096.4 
Less: Net income (loss) attributable to noncontrolling interests(0.4)0.1 0.6 0.2 (0.1)1.9 (0.2)(2.1)
Net income (loss) attributable to FMC stockholders$(2.7)$295.1 $65.0 $(16.3)$196.0 $30.5 $(3.5)$1,098.5 
Amounts attributable to FMC stockholders:
Continuing operations, net of income taxes$9.8 $297.9 $65.9 $29.3 $207.5 $52.0 $4.8 $1,155.7 
Discontinued operations, net of income taxes(12.5)(2.8)(0.9)(45.6)(11.5)(21.5)(8.3)(57.2)
Net income (loss)$(2.7)$295.1 $65.0 $(16.3)$196.0 $30.5 $(3.5)$1,098.5 
Basic earnings (loss) per common share attributable to FMC stockholders (1):
Continuing operations$0.08 $2.37 $0.53 $0.23 $1.65 $0.41 $0.04 $9.23 
Discontinued operations(0.10)(0.02)(0.01)(0.36)(0.09)(0.17)(0.07)(0.46)
Basic net income (loss) per common share$(0.02)$2.35 $0.52 $(0.13)$1.56 $0.24 $(0.03)$8.77 
Diluted earnings (loss) per common share attributable to FMC stockholders (1):
Continuing operations$0.08 $2.37 $0.53 $0.23 $1.64 $0.41 $0.04 $9.23 
Discontinued operations(0.10)(0.02)(0.01)(0.36)(0.09)(0.17)(0.07)(0.46)
Diluted net income (loss) per common share$(0.02)$2.35 $0.52 $(0.13)$1.55 $0.24 $(0.03)$8.77 
Weighted average shares outstanding:
Basic124.9 125.0 125.0 125.0 125.3 125.1 124.9 124.9 
Diluted125.2 125.4 125.5 125.5 126.1 125.7 125.3 125.2 
___________________________
(1)The sum of quarterly earnings per common share may differ from the full-year amount.
v3.25.0.1
Principal Accounting Policies and Related Financial Information - Narrative (Details)
$ in Millions
 12 Months Ended
Dec. 31, 2024
USD ($)
class
Segments
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Accounting Policies [Abstract]      
Number of segments | Segments 1    
Nature of Operations      
Number of major classes of crop protection | class 3    
Trade receivable, net of allowance      
Allowance for trade receivable $ 39.4 $ 29.1 $ 33.9
Allowance for long-term receivables 21.3 27.1 44.5
Additions — charged to expense $ 10.4 6.3 (0.5)
Investments      
Maximum ownership percentage for equity method investments (as a percent) 50.00%    
Capitalized Interest      
Capitalized interest costs $ 9.6 9.3 $ 5.6
Asset Retirement Obligation [Abstract]      
Asset retirement obligation $ 10.3 $ 6.4  
Minimum      
Goodwill and Intangible Assets      
Weighted avg. useful life remaining at December 31, 2024 3 years    
Maximum      
Goodwill and Intangible Assets      
Weighted avg. useful life remaining at December 31, 2024 20 years    
Land Improvements      
Property, plant and equipment and capitalized software      
Useful lives (in years) 20 years    
Building | Minimum      
Property, plant and equipment and capitalized software      
Useful lives (in years) 15 years    
Building | Maximum      
Property, plant and equipment and capitalized software      
Useful lives (in years) 40 years    
Machinery and Equipment | Minimum      
Property, plant and equipment and capitalized software      
Useful lives (in years) 3 years    
Machinery and Equipment | Maximum      
Property, plant and equipment and capitalized software      
Useful lives (in years) 18 years    
Software Development | Minimum      
Property, plant and equipment and capitalized software      
Useful lives (in years) 3 years    
Software Development | Maximum      
Property, plant and equipment and capitalized software      
Useful lives (in years) 10 years    
v3.25.0.1
Principal Accounting Policies and Related Financial Information - GSS Divestiture (Details) - USD ($)
$ in Millions
 12 Months Ended
Nov. 01, 2024
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]        
Proceeds from the sale of the Global Specialty Solutions ("GSS") business   $ 340.0 $ 0.0 $ 0.0
GSS allocation to held for sale   71.1    
Gain on sale of GSS   $ 174.4 $ 0.0 $ 0.0
Disposal Group, Disposed of by Sale, Not Discontinued Operations | Global Specialty        
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]        
Proceeds from the sale of the Global Specialty Solutions ("GSS") business $ 340.0      
Trade receivables 52.0      
inventories 20.0      
Accrued rebates 11.0      
GSS allocation to held for sale $ 71.0      
v3.25.0.1
Recently Issued and Adopted Accounting Pronouncements and Regulatory Items - Narrative (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Accounting Policies [Abstract]      
Supplier finance program, obligation $ 227.4 $ 71.9 $ 307.5
v3.25.0.1
Recently Issued and Adopted Accounting Pronouncements and Regulatory Items - Supplier Finance Program (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Accounting Policies [Abstract]    
Supplier Finance Program, Obligation, Statement of Financial Position [Extensible Enumeration] Accounts payable, trade and other Accounts payable, trade and other
Supplier Finance Program, Obligation [Roll Forward]    
Confirmed obligations outstanding at the beginning of the year $ 71.9 $ 307.5
Invoices confirmed during the year 406.4 490.6
Confirmed invoices paid during the year (250.9) (726.2)
Confirmed obligations at the end of the year $ 227.4 $ 71.9
v3.25.0.1
Revenue Recognition - Narrative (Details)
$ in Millions
 12 Months Ended
Dec. 31, 2024
USD ($)
product
productClass
Dec. 31, 2023
USD ($)
Disaggregation of Revenue [Line Items]    
Number of product categories | product 3  
Number of product classes | productClass 3  
Maximum payment term (in years) 360 days  
Period between delivery and receipt of payment (in years) 1 year  
Contract liabilities: Advance payments from customers | $ $ 453.8 $ 482.1
Contract with customer, timing difference, period between prepayment and performance of obligations (in years) 1 year  
Service arrangement, payment period (in days) 30 days  
Amortization period (in years) 1 year  
Transfer period, adjustment threshold (in years) 1 year  
Remaining performance obligation, contract period, disclosure threshold (in years) 1 year  
Minimum    
Disaggregation of Revenue [Line Items]    
Contract payment term (in years) 30 days  
Maximum    
Disaggregation of Revenue [Line Items]    
Contract payment term (in years) 90 days  
v3.25.0.1
Revenue Recognition - Disaggregation of Revenue by Major Geographical Region (Details) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Dec. 31, 2024
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2023
Sep. 30, 2023
Jun. 30, 2023
Mar. 31, 2023
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Disaggregation of Revenue [Line Items]                      
Revenue $ 1,224.3 $ 1,065.4 $ 1,038.4 $ 918.0 $ 1,146.1 $ 981.9 $ 1,014.5 $ 1,344.3 $ 4,246.1 $ 4,486.8 $ 5,802.3
North America                      
Disaggregation of Revenue [Line Items]                      
Revenue                 1,173.4 1,204.8 1,435.8
Latin America                      
Disaggregation of Revenue [Line Items]                      
Revenue                 1,389.5 1,401.1 2,088.2
Europe, Middle East & Africa                      
Disaggregation of Revenue [Line Items]                      
Revenue                 834.8 899.2 1,039.7
Asia                      
Disaggregation of Revenue [Line Items]                      
Revenue                 848.4 981.7 1,238.6
U.S.                      
Disaggregation of Revenue [Line Items]                      
Revenue                 1,003.1 978.1 1,288.8
Brazil                      
Disaggregation of Revenue [Line Items]                      
Revenue                 $ 1,081.1 $ 1,017.3 $ 1,621.1
v3.25.0.1
Revenue Recognition - Disaggregation of Revenue By Major Product Category (Details) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Dec. 31, 2024
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2023
Sep. 30, 2023
Jun. 30, 2023
Mar. 31, 2023
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Disaggregation of Revenue [Line Items]                      
Revenue $ 1,224.3 $ 1,065.4 $ 1,038.4 $ 918.0 $ 1,146.1 $ 981.9 $ 1,014.5 $ 1,344.3 $ 4,246.1 $ 4,486.8 $ 5,802.3
Insecticides                      
Disaggregation of Revenue [Line Items]                      
Revenue                 2,377.9 2,639.4 3,346.6
Herbicides                      
Disaggregation of Revenue [Line Items]                      
Revenue                 1,280.5 1,278.4 1,651.6
Fungicides                      
Disaggregation of Revenue [Line Items]                      
Revenue                 352.5 317.6 383.9
Plant Health                      
Disaggregation of Revenue [Line Items]                      
Revenue                 200.5 186.9 234.1
Other                      
Disaggregation of Revenue [Line Items]                      
Revenue                 $ 34.7 $ 64.5 $ 186.1
v3.25.0.1
Revenue Recognition - Assets and Liabilities (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Revenue from Contract with Customer [Abstract]    
Receivables from contracts with customers, net of allowances $ 2,942.9 $ 2,722.7
Receivables from contracts with customers, net of allowances increase (decrease) 220.2  
Contract liabilities: Advance payments from customers 453.8 $ 482.1
Contract liabilities: advance payments from customers, increase (decrease) $ (28.3)  
v3.25.0.1
Goodwill and Intangible Assets - Schedule of Goodwill (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Goodwill [Roll Forward]    
Balance at beginning of period $ 1,593.6 $ 1,589.3
Foreign currency and other adjustments (15.5) 4.3
GSS divestiture allocation (71.1)  
Balance at end of period $ 1,507.0 $ 1,593.6
v3.25.0.1
Goodwill and Intangible Assets - Narrative (Details)
 12 Months Ended
Dec. 31, 2024
USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill, impairment loss $ 0
Impairment of intangible assets, indefinite-lived (excluding goodwill) $ 0
v3.25.0.1
Goodwill and Intangible Assets - Intangible Assets (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Intangible assets subject to amortization (finite life)    
Gross $ 1,295.3 $ 1,321.2
Accumulated Amortization (529.8) (476.7)
Net 765.5 844.5
Indefinite-lived Intangible Assets [Line Items]    
Indefinite-lived intangible assets 1,595.2 1,620.6
Finite and Indefinite lived intangible assets, gross 2,890.5 2,941.8
Total Accumulated Amortization (529.8) (476.7)
Total intangible assets 2,360.7 2,465.1
Crop Protection Brands    
Indefinite-lived Intangible Assets [Line Items]    
Indefinite-lived intangible assets 1,259.0 1,259.0
Brands    
Indefinite-lived Intangible Assets [Line Items]    
Indefinite-lived intangible assets 325.6 350.3
In-process research and development    
Indefinite-lived Intangible Assets [Line Items]    
Indefinite-lived intangible assets $ 10.6 11.3
Customer relationships    
Intangible assets subject to amortization (finite life)    
Weighted avg. useful life remaining at December 31, 2024 12 years  
Gross $ 1,117.5 1,136.7
Accumulated Amortization (458.9) (414.2)
Net 658.6 722.5
Indefinite-lived Intangible Assets [Line Items]    
Total Accumulated Amortization $ (458.9) (414.2)
Patents    
Intangible assets subject to amortization (finite life)    
Weighted avg. useful life remaining at December 31, 2024 8 years  
Gross $ 1.7 1.8
Accumulated Amortization (1.7) (1.6)
Net 0.0 0.2
Indefinite-lived Intangible Assets [Line Items]    
Total Accumulated Amortization $ (1.7) (1.6)
Brands    
Intangible assets subject to amortization (finite life)    
Weighted avg. useful life remaining at December 31, 2024 8 years  
Gross $ 48.3 49.3
Accumulated Amortization (19.2) (12.9)
Net 29.1 36.4
Indefinite-lived Intangible Assets [Line Items]    
Total Accumulated Amortization $ (19.2) (12.9)
Purchased and licensed technologies    
Intangible assets subject to amortization (finite life)    
Weighted avg. useful life remaining at December 31, 2024 12 years  
Gross $ 125.5 131.1
Accumulated Amortization (48.2) (46.2)
Net 77.3 84.9
Indefinite-lived Intangible Assets [Line Items]    
Total Accumulated Amortization $ (48.2) (46.2)
Other intangibles    
Intangible assets subject to amortization (finite life)    
Weighted avg. useful life remaining at December 31, 2024 7 years  
Gross $ 2.3 2.3
Accumulated Amortization (1.8) (1.8)
Net 0.5 0.5
Indefinite-lived Intangible Assets [Line Items]    
Total Accumulated Amortization $ (1.8) $ (1.8)
v3.25.0.1
Goodwill and Intangible Assets - Amortization Expense (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]      
Amortization expense $ 65.5 $ 64.3 $ 60.6
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]      
2025 70.3    
2026 71.5    
2027 71.2    
2028 71.7    
2029 $ 70.9    
v3.25.0.1
Inventories (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Inventories:    
Finished goods $ 433.5 $ 643.8
Work in process 548.6 732.2
Raw materials, supplies and other 219.5 348.6
Inventories $ 1,201.6 $ 1,724.6
v3.25.0.1
Property, Plant and Equipment (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Property, Plant and Equipment [Abstract]    
Land and land improvements $ 96.3 $ 98.1
Buildings and building equipment 537.2 540.0
Machinery and equipment 757.7 717.2
Construction in progress 206.7 204.5
Total cost 1,597.9 1,559.8
Accumulated depreciation (748.2) (667.3)
Property, plant and equipment, net $ 849.7 $ 892.5
v3.25.0.1
Property, Plant and Equipment - Narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Property, Plant and Equipment [Abstract]      
Depreciation $ 68.7 $ 73.5 $ 71.1
v3.25.0.1
Restructuring and Other Charges (Income) - Restructuring Charges in Consolidated Income (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Restructuring and Related Activities [Abstract]      
Restructuring charges (income) $ 303.0 $ 48.4 $ (26.1)
Other charges (income), net (83.2) 163.9 119.2
Total restructuring and other charges (income) $ 219.8 $ 212.3 $ 93.1
v3.25.0.1
Restructuring and Other Charges (Income) - Restructuring Charges (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Restructuring Charges [Abstract]      
Severance and Employee Benefits $ 55.8 $ 47.0 $ 5.9
Other Charges (Income) 160.2 (1.4) (43.2)
Asset Disposal Charges 87.0 2.8 11.2
Total 303.0 48.4 (26.1)
Contract abandonment charges 132.1    
Proceeds from land disposition   5.8 50.5
Facility Closing      
Restructuring Charges [Abstract]      
Other Charges (Income) 3.1    
Project Focus      
Restructuring Charges [Abstract]      
Severance and Employee Benefits 55.8 40.1  
Other Charges (Income) 163.1 5.4  
Asset Disposal Charges 87.0 0.0  
Total 305.9 45.5  
DuPont Crop restructuring      
Restructuring Charges [Abstract]      
Severance and Employee Benefits   0.0 0.0
Other Charges (Income)   (8.1) (49.9)
Asset Disposal Charges   2.8 1.2
Total   (5.3) (48.7)
Regional realignment      
Restructuring Charges [Abstract]      
Severance and Employee Benefits     3.8
Other Charges (Income)     4.1
Asset Disposal Charges     0.0
Total     7.9
Other items      
Restructuring Charges [Abstract]      
Severance and Employee Benefits 0.0 6.9 2.1
Other Charges (Income) (2.9) 1.3 2.6
Asset Disposal Charges 0.0 0.0 10.0
Total $ (2.9) $ 8.2 $ 14.7
v3.25.0.1
Restructuring and Other Charges (Income) - Narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Restructuring Cost and Reserve [Line Items]      
Other items $ 160.2 $ (1.4) $ (43.2)
Severance charges 55.8 47.0 5.9
Restructuring charges (income) 303.0 48.4 (26.1)
Gain on sale of GSS 174.4 0.0 0.0
Exit from Russian Operations 0.0 0.0 76.8
Currency related matters 0.0 75.2 0.0
Project Focus      
Restructuring Cost and Reserve [Line Items]      
Restructuring and related cost, incurred cost 132.1    
Other items 163.1 5.4  
Severance charges 55.8 40.1  
Restructuring and related cost, accelerated depreciation 20.5    
Asset impairment charges 13.2    
Restructuring charges (income) 305.9 $ 45.5  
Project Focus | Other Restructuring      
Restructuring Cost and Reserve [Line Items]      
Other items 53.3    
Project Focus | Professional Service Provider Costs      
Restructuring Cost and Reserve [Line Items]      
Other items 31.0    
Russia Operations      
Restructuring Cost and Reserve [Line Items]      
Exit from Russian Operations     $ 76.8
Stranded cash $ 7.0    
v3.25.0.1
Restructuring and Other Charges (Income) - Rollforward of Restructuring Reserves (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Restructuring Reserve [Roll Forward]    
Restructuring reserve, beginning balance $ 50.4 $ 10.6
Changes in reserves 210.4 55.4
Cash payments (109.2) (15.9)
Other (0.5) 0.3
Restructuring reserve, ending balance 151.1 50.4
Project Focus    
Restructuring Reserve [Roll Forward]    
Restructuring reserve, beginning balance 43.1 0.0
Changes in reserves 210.1 45.5
Cash payments (106.2) (2.4)
Other (0.1) 0.0
Restructuring reserve, ending balance 146.9 43.1
DuPont Crop restructuring    
Restructuring Reserve [Roll Forward]    
Restructuring reserve, beginning balance 3.9 5.0
Changes in reserves 0.0 0.0
Cash payments (0.9) (1.0)
Other 0.0 (0.1)
Restructuring reserve, ending balance 3.0 3.9
Other workforce related and facility shutdowns    
Restructuring Reserve [Roll Forward]    
Restructuring reserve, beginning balance 3.4 5.6
Changes in reserves 0.3 9.9
Cash payments (2.1) (12.5)
Other (0.4) 0.4
Restructuring reserve, ending balance $ 1.2 $ 3.4
v3.25.0.1
Restructuring and Other Charges (Income) - Other Charges (Income), Net (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Restructuring and Related Activities [Abstract]      
Environmental charges, net $ 74.7 $ 66.9 $ 34.7
Gain on sale of GSS (174.4) 0.0 0.0
Exit from Russian Operations 0.0 0.0 76.8
Currency related matters 0.0 75.2 0.0
IPR&D asset acquisition charges 0.0 13.0 0.0
Other items, net 16.5 8.8 7.7
Other charges (income), net $ (83.2) $ 163.9 $ 119.2
v3.25.0.1
Receivables - Allowance for Doubtful Trade Receivables and Credit Losses (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Allowance for Doubtful Accounts Receivable [Roll Forward]    
Allowance for trade receivables, beginning balance $ 29.1 $ 33.9
Additions — charged (credited) to expense 12.2 4.7
Transfer from (to) allowance for credit losses (3.6) (1.5)
Net recoveries, write-offs and other 1.7 (8.0)
Allowance for trade receivables, ending balance 39.4 29.1
Allowance for long term customer receivables [Roll Forward]    
Allowance for long term customer receivables, beginning 27.1 44.5
Additions — charged (credited) to expense (1.8) 1.6
Transfer from (to) allowance for doubtful accounts 3.6 1.5
Foreign currency adjustments (3.4) 0.8
Net recoveries, write-offs and other (4.2) (21.3)
Allowance for long term customer receivables, ending $ 21.3 $ 27.1
v3.25.0.1
Receivables - Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Sep. 30, 2022
Dec. 31, 2024
Dec. 31, 2023
Receivables with Imputed Interest [Line Items]      
Net long-term customer receivables   $ 39.7 $ 19.5
Nonrecourse factoring   122.9 155.0
Receivables Securitization Facility      
Receivables with Imputed Interest [Line Items]      
Trade receivables, net   193.0 148.3
Transfer charge   $ 18.2 $ 11.9
Contractually specified servicing fee income, statement of income or comprehensive income   Selling, general and administrative expenses  
Sale of trade receivable classified as noncash investing activity $ 35.7    
v3.25.0.1
Discontinued Operations - Components of Discontinued Operations (Details) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Dec. 31, 2024
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2023
Sep. 30, 2023
Jun. 30, 2023
Mar. 31, 2023
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                      
Discontinued operations, net of income taxes $ (45.6) $ (0.9) $ (2.8) $ (12.5) $ (57.2) $ (8.3) $ (21.5) $ (11.5) $ (61.8) $ (98.5) $ (97.2)
Adjustment for workers’ compensation, product liability, other postretirement benefits and other, net of income tax benefit (expense)                 (2.5) (0.9) (2.5)
Provision for environmental liabilities and expenses, net of recoveries, net of income tax benefit (expense)                 8.7 18.0 13.8
Discontinued operations gain on insurance settlement                 18.0    
Adjustment for workers’ compensation, product liability, and other postretirement benefits and other, net of income tax benefit (expense) of $(2.5) in 2024, $(0.9) in 2023 and $(2.5) in 2022                      
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                      
Discontinued operations, net of income taxes                 (5.2) (3.0) (3.9)
Provision for environmental liabilities, net of recoveries, net of income tax benefit (expense)                      
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                      
Discontinued operations, net of income taxes                 (32.8) (65.6) (53.8)
Provision for legal reserves and expenses, net of recoveries, net of income tax benefit (expense) of [$—] in 2024, $7.9 in 2023, and $10.5 in 2022                      
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                      
Discontinued operations, net of income taxes                 (23.8) (29.9) (39.5)
Provision for legal reserves and expenses, net of recoveries, net of income tax benefit                 $ 6.3 7.9 $ 10.5
Discontinued Foreign Environmental Liabilities                      
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                      
Discontinued operations, net of income taxes                   $ (11.7)  
v3.25.0.1
Discontinued Operations - Reserves for Discontinued Operations (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]    
Workers’ compensation, product liability, and indemnification reserves $ 2.6 $ 2.3
Reserve for discontinued operations 154.2 135.6
Non-operating pension and postretirement charges (income); Discontinued operations, net of income taxes    
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]    
Workers’ compensation, product liability, and indemnification reserves 7.1 7.3
Postretirement medical and life insurance benefits reserve, net 3.1 4.4
Reserves for legal proceedings 144.0 123.9
Reserve for discontinued operations $ 154.2 $ 135.6
v3.25.0.1
Discontinued Operations - Narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]      
Net pretax actuarial gain and prior service credit $ 3.0 $ 2.2  
After-tax actuarial gain and prior service credit 1.7 1.0  
Payments of other discontinued reserves 13.5 31.6 $ 30.6
Workers’ compensation, product liability, and indemnification reserves      
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]      
Payments of other discontinued reserves 6.5 3.1 2.4
Postretirement medical and life insurance benefits reserve, net      
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]      
Payments of other discontinued reserves 0.2 0.2 0.3
Reserves for legal proceedings      
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]      
Payments of other discontinued reserves $ 6.8 $ 28.3 $ 27.9
v3.25.0.1
Environmental Obligations - Narrative (Details)
$ in Millions
 12 Months Ended
Dec. 31, 2024
USD ($)
site
operable_unit
party
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Dec. 31, 1998
USD ($)
Dec. 31, 2021
USD ($)
Environmental Exit Cost [Line Items]          
Environmental reserves, excluding recoveries $ 623.2 $ 601.8      
Environmental loss contingencies, net of expected recoveries, in excess of accrual 290.0        
Accrual for environmental loss contingencies 613.1 592.1 $ 529.2   $ 503.2
Charges to expense for new losses $ 116.0 152.3 $ 104.8    
Number of operable units evaluated and proposed for CMAs | operable_unit 6        
Non-judicial process, parties involved | party 100        
Number of sites FMC is named as a potentially responsible party | site 28        
Number of sites FMC may be a potentially responsible party or equivalent | site 45        
Middleport Litigation          
Environmental Exit Cost [Line Items]          
Settlement payment $ 10.0 12.5      
Pending Litigation | Middleport Litigation          
Environmental Exit Cost [Line Items]          
Operable units | operable_unit 11        
Cash outflow, maximum, after year 2021 $ 10.0        
Pocatello          
Environmental Exit Cost [Line Items]          
Accrual for environmental loss contingencies 115.9 82.9      
Charges to expense for new losses $ 28.0        
Tribal permit fee       $ 1.5  
Discount rate 4.86%        
Estimated year three fees $ 1.5        
Expected aggregate undiscounted fees 75.0        
Middleport          
Environmental Exit Cost [Line Items]          
Accrual for environmental loss contingencies $ 128.5 $ 130.8      
v3.25.0.1
Environmental Obligations - Environmental Reserve Rollforward (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Accrual for Environmental Loss Contingencies [Roll Forward]      
Total environmental reserves, net of recoveries beginning of period $ 592.1 $ 529.2 $ 503.2
Provision 116.0 152.3 104.8
Spending, net of recoveries (88.5) (92.6) (74.5)
Foreign currency translation adjustments (6.5) 3.2 (4.3)
Net change 21.0 62.9 26.0
Total environmental reserves, net of recoveries end of period $ 613.1 $ 592.1 $ 529.2
Environmental loss contingency, statement of financial position Environmental liabilities, continuing and discontinued Environmental liabilities, continuing and discontinued Environmental liabilities, continuing and discontinued
v3.25.0.1
Environmental Obligations - Recoveries and Reserves (Details) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Dec. 31, 2024
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2023
Sep. 30, 2023
Jun. 30, 2023
Mar. 31, 2023
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Recorded Recoveries [Roll Forward]                        
Beginning balance       $ 9.7       $ 13.9 $ 9.7 $ 13.9    
Increase (Decrease) in Recoveries                 0.5 (3.1)    
Cash Received                 (0.1) (1.1)    
Ending balance $ 10.1       $ 9.7       10.1 9.7 $ 13.9  
Beginning balance       4.9       6.4 4.9 6.4    
Increase (Decrease) in Recoveries                 (0.1) 2.1    
Cash Received                 (1.0) (3.6)    
Ending balance 3.8       4.9       3.8 4.9 6.4  
Beginning balance       14.6       20.3 14.6 20.3    
Increase (Decrease) in Recoveries                 0.4 (1.0)    
Cash Received                 (1.1) (4.7)    
Ending balance 13.9       14.6       13.9 14.6 20.3  
Accrual for Environmental Loss Contingencies [Roll Forward]                        
Environmental reserves, current, net of recoveries 91.8       97.4       91.8 97.4    
Environmental reserves, long-term continuing and discontinued, net of recoveries 521.3       494.7       521.3 494.7    
Total environmental reserves, net of recoveries 613.1       592.1       613.1 592.1 529.2 $ 503.2
Net Environmental Provisions [Abstract]                        
Environmental charges, net                 74.7 66.9 34.7  
Net environmental provision                 116.2 150.5 102.3  
Discontinued operations, net of income taxes $ 45.6 $ 0.9 $ 2.8 $ 12.5 $ 57.2 $ 8.3 $ 21.5 $ 11.5 61.8 98.5 97.2  
Net Environmental Provisions, Assets and Liabilities [Abstract]                        
Environmental reserves                 116.0 152.3 104.8  
Other assets                 0.2 (1.8) (2.5)  
Net environmental provision                 116.2 150.5 102.3  
Continuing operations                        
Net Environmental Provisions [Abstract]                        
Environmental charges, net                 74.7 66.9 34.7  
Discontinued operations                        
Net Environmental Provisions [Abstract]                        
Environmental charges, net                 $ 41.5 83.6 $ 67.6  
Discontinued Foreign Environmental Liabilities                        
Net Environmental Provisions [Abstract]                        
Discontinued operations, net of income taxes                   $ 11.7    
v3.25.0.1
Income Taxes - Domestic and Foreign Income Tax Components (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Income Tax Disclosure [Abstract]      
Domestic $ (271.6) $ (312.7) $ (89.6)
Foreign 524.1 612.9 1,073.5
Income (loss) from continuing operations before income taxes $ 252.5 $ 300.2 $ 983.9
v3.25.0.1
Income Taxes - Provision (Benefit) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Current:      
Federal $ 28.2 $ 58.5 $ 45.7
Foreign 160.2 113.9 152.1
State 1.0 1.1 0.1
Total current 189.4 173.5 197.9
Deferred:      
Federal (66.0) (82.7) (28.6)
Foreign (271.9) (1,212.0) (27.4)
State (2.4) 1.9 3.3
Total deferred (340.3) (1,292.8) (52.7)
Total $ (150.9) $ (1,119.3) $ 145.2
v3.25.0.1
Income Taxes - Effective Income Tax Rate Reconciliation (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Income Tax Disclosure [Abstract]      
U.S. Federal statutory rate $ 53.0 $ 63.0 $ 206.6
Foreign earnings subject to different tax rates (137.3) (130.7) (152.7)
State and local income taxes, less federal income tax benefit (7.7) 2.5 5.5
Research and development and miscellaneous tax credits (5.7) (5.4) (5.7)
Tax on dividends, deemed dividends, and GILTI 41.9 37.0 24.6
Changes to unrecognized tax benefits 9.6 10.5 10.5
Nondeductible expenses 9.3 9.3 19.6
Change in valuation allowance 639.7 172.5 71.3
Exchange gains and losses 30.3 (18.4) (12.0)
Impact of Switzerland tax incentives (645.0) (1,149.2) 0.0
Other (139.0) (110.4) (22.5)
Total (150.9) (1,119.3) 145.2
GILTI provisions 18.1 25.5 17.8
Decrease related to deferred tax liabilities $ 38.6 $ 120.0 $ 39.7
v3.25.0.1
Income Taxes - Narrative (Details)
$ in Millions
 3 Months Ended 12 Months Ended
Dec. 31, 2024
USD ($)
jurisdiction
Dec. 31, 2023
USD ($)
Dec. 31, 2024
USD ($)
jurisdiction
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Jun. 30, 2024
USD ($)
Dec. 31, 2021
USD ($)
Operating Loss Carryforwards [Line Items]              
Capital loss, foreign tax and other credit carryforwards $ 1,128.1 $ 1,136.0 $ 1,128.1 $ 1,136.0      
Estimated net future reductions in tax associated with incentives granted     5.7 5.4 $ 5.7    
Tax credit carryforward $ 1,128.1   $ 1,128.1        
Number of significant foreign jurisdictions | jurisdiction 11   11        
Unrecognized tax benefits $ 53.1 51.2 $ 53.1 51.2 46.1   $ 41.9
Unrecognized tax benefits that would impact effective tax rate 41.5 37.1 41.5 37.1      
Interest and penalties recognized     2.3 4.3 $ 2.6    
Interest and penalties accrued 18.6 $ 16.3 18.6 16.3      
Minimum              
Operating Loss Carryforwards [Line Items]              
Possible decrease in unrecognized tax benefits 3.6   3.6        
Maximum              
Operating Loss Carryforwards [Line Items]              
Possible decrease in unrecognized tax benefits 23.9   23.9        
U.S. State              
Operating Loss Carryforwards [Line Items]              
Operating loss carryforwards 19.8   19.8        
Foreign Tax Jurisdiction              
Operating Loss Carryforwards [Line Items]              
Operating loss carryforwards 544.3   544.3        
Switzerland              
Operating Loss Carryforwards [Line Items]              
Tax incentives granted, period (in years)   10 years          
Capital loss, foreign tax and other credit carryforwards   $ 1,149.0   1,149.0   $ 300.0  
recorded valuation allowance   $ 318.0   $ 318.0      
Estimated net future reductions in tax associated with incentives granted $ 120.0   831.0        
Brazil              
Operating Loss Carryforwards [Line Items]              
Change in valuation allowance     $ 223.0        
v3.25.0.1
Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Income Tax Disclosure [Abstract]    
Reserves for discontinued operations, environmental and restructuring $ 190.1 $ 144.7
Accrued pension and other postretirement benefits 5.3 9.8
Capital loss, foreign tax and other credit carryforwards 1,128.1 1,136.0
Net operating loss carryforwards 564.1 411.2
Deferred expenditures capitalized for tax 108.6 94.5
Intangibles, Property, plant and equipment, and Investments, net 387.9 0.0
Other accruals and reserves 267.5 234.0
Deferred tax assets 2,651.6 2,030.2
Valuation allowance, net (1,213.8) (588.4)
Deferred tax assets, net of valuation allowance 1,437.8 1,441.8
Intangibles, Property, plant and equipment, and Investments, net 0.0 263.3
Deferred tax liabilities 0.0 263.3
Net deferred tax assets (liabilities) $ 1,437.8 $ 1,178.5
v3.25.0.1
Income Taxes - Uncertain Income Tax Positions (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Unrecognized Tax Benefits [Roll Forward]      
Balance at beginning of year $ 51.2 $ 46.1 $ 41.9
Increases related to positions taken in the current year 8.6 2.4 4.8
Increases and decreases related to positions taken in prior years (1.2)    
Increases and decreases related to positions taken in prior years   3.5 2.9
Decreases related to lapse of statutes of limitations (5.5) (0.8) (3.5)
Settlements during the current year 0.0 0.0 0.0
Decreases for tax positions on dispositions 0.0 0.0 0.0
Balance at end of year 53.1 51.2 46.1
Offsetting non-current deferred tax asset $ 10.5 $ 12.9 $ 12.8
v3.25.0.1
Debt - Maturing Within One Year (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Short-term Debt [Line Items]    
Total short-term debt $ 261.3 $ 837.5
Current portion of long-term debt 76.1 96.5
Total short-term debt and current portion of long-term debt 337.4 934.0
Revolving Credit Facility | Line of credit    
Short-term Debt [Line Items]    
Line of credit, maximum increase 2,750.0  
Short-term foreign debt    
Short-term Debt [Line Items]    
Total short-term debt $ 135.7 98.0
Weighted average interest rates for short-term debt outstanding at year-end (as a percent) 10.60%  
Commercial paper    
Short-term Debt [Line Items]    
Total short-term debt $ 125.6 $ 739.5
Weighted average interest rates for short-term debt outstanding at year-end (as a percent) 5.00%  
v3.25.0.1
Debt - Long-Term Debt (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Debt Instrument [Line Items]    
Debt issuance cost $ (20.4) $ (24.5)
Total long-term debt 3,104.0 3,120.1
Less: debt maturing within one year 76.1 96.5
Total long-term debt, less current portion 3,027.9 3,023.6
Pollution control and industrial revenue bonds (less unamortized discounts of $0.1 and $0.1, respectively)    
Debt Instrument [Line Items]    
Unamortized discount $ 0.1 0.1
Interest Rate Percentage 6.45%  
Long-term debt, gross $ 49.9 49.9
Senior notes (less unamortized discounts of $1.6 and $1.8, respectively)    
Debt Instrument [Line Items]    
Unamortized discount 1.6 1.8
Long-term debt, gross $ 2,998.4 2,998.2
Senior notes (less unamortized discounts of $1.6 and $1.8, respectively) | Minimum    
Debt Instrument [Line Items]    
Interest Rate Percentage 3.20%  
Senior notes (less unamortized discounts of $1.6 and $1.8, respectively) | Maximum    
Debt Instrument [Line Items]    
Interest Rate Percentage 6.40%  
Revolving Credit Facility    
Debt Instrument [Line Items]    
Letters of credit outstanding, amount $ 210.1  
Line of credit, remaining borrowing capacity $ 1,664.3  
Revolving Credit Facility | Line of credit    
Debt Instrument [Line Items]    
Interest Rate Percentage 7.10%  
Long-term debt, gross $ 0.0 0.0
Foreign debt    
Debt Instrument [Line Items]    
Long-term debt, gross $ 76.1 $ 96.5
Foreign debt | Minimum    
Debt Instrument [Line Items]    
Interest Rate Percentage 12.20%  
Foreign debt | Maximum    
Debt Instrument [Line Items]    
Interest Rate Percentage 12.60%  
v3.25.0.1
Debt - Maturities of Long-Term Debt (Details)
$ in Millions
Dec. 31, 2024
USD ($)
Maturities of Long-term Debt [Abstract]  
2025 $ 76.1
2026 1,000.0
2027 0.0
2028 0.0
2029 500.0
Thereafter $ 1,550.0
v3.25.0.1
Debt - Covenants (Details) - Line of credit - Revolving Credit Facility And Term Loan Facility 2017
 12 Months Ended
Dec. 31, 2024
Debt Instrument [Line Items]  
Credit Agreement, covenant terms, maximum leverage ratio 5.00
Credit agreement, covenant compliance, actual leverage ratio 3.72
Credit agreement, covenant compliance, actual interest coverage ratio, period one 3.90
Minimum interest coverage 3.00
v3.25.0.1
Debt - Revolving Credit Facility Amendments (Details) - Scenario, Forecast - Revolving Credit Facility - Line of credit
 3 Months Ended 8 Months Ended 11 Months Ended 27 Months Ended
Mar. 31, 2026
Sep. 30, 2025
Dec. 31, 2025
Dec. 31, 2027
Debt Instrument [Line Items]        
Debt instrument maximum leverage ratio       3.75
Debt instrument minimum leverage ratio 3.50      
Subsequent Event        
Debt Instrument [Line Items]        
Debt instrument maximum leverage ratio   5.25    
Debt instrument, covenant description, minimum interest coverage ratio     3.00  
v3.25.0.1
Pension and Other Postretirement Benefits - Benefits Weighted Average Assumptions (Details)
Dec. 31, 2024
Dec. 31, 2023
Pensions    
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]    
Rate of compensation increase 3.10% 3.10%
Pensions | U.S. qualified pension plan    
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]    
Discount rate 5.60% 4.97%
Pensions | U.S. nonqualified pension plan    
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]    
Discount rate 5.31% 4.78%
Other Benefits    
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]    
Discount rate 5.40% 4.83%
v3.25.0.1
Pension and Other Postretirement Benefits - Components of Defined Benefit Plan (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Change in plan assets      
Company contributions $ 5.5 $ 2.4  
Amount recognized on the consolidated balance sheets:      
Pension asset 31.7 30.7  
Pensions      
Change in projected benefit obligation      
Projected benefit obligation at January 1 1,032.2 1,044.3  
Service cost 1.8 2.6 $ 3.6
Interest cost 48.2 50.4 29.3
Actuarial loss (gain) (45.2) 19.0  
Foreign currency exchange rate changes and other (0.4) 0.0  
Plan participants’ contributions 0.0 0.0  
Settlements (3.1) (1.0)  
Benefits paid (83.6) (83.1)  
Projected benefit obligation at December 31 949.9 1,032.2 1,044.3
Change in plan assets      
Fair value of plan assets at January 1 1,041.3 1,044.1  
Actual return on plan assets 3.6 79.2  
Foreign currency exchange rate changes 0.2 0.3  
Company contributions 4.6 1.2  
Plan participants’ contributions 0.0 0.0  
Settlements (3.1) (0.4)  
Benefits paid (83.6) (83.1)  
Fair value of plan assets at December 31 963.0 1,041.3 1,044.1
Funded Status      
Net funded status of the plan (liability) 13.1 9.1  
Amount recognized on the consolidated balance sheets:      
Pension asset 31.7 30.7  
Accrued benefit liability (18.6) (21.6)  
Total 13.1 9.1  
Pensions | Non-U.S.      
Change in plan assets      
Company contributions 0.3 0.1  
U.S. plans with assets | U.S.      
Funded Status      
Net funded status of the plan (liability) 31.7 30.7  
U.S. plans with assets | Non-U.S.      
Funded Status      
Net funded status of the plan (liability) (1.0) (1.6)  
U.S. plans without assets | U.S.      
Funded Status      
Net funded status of the plan (liability) (12.3) (14.7)  
Other Benefits      
Change in projected benefit obligation      
Projected benefit obligation at January 1 9.2 11.2  
Service cost 0.0 0.0 0.0
Interest cost 0.4 0.5 0.3
Actuarial loss (gain) (1.4) (1.4)  
Foreign currency exchange rate changes and other 0.0 0.0  
Plan participants’ contributions 0.3 0.3  
Settlements 0.0 0.0  
Benefits paid (1.3) (1.4)  
Projected benefit obligation at December 31 7.2 9.2 11.2
Change in plan assets      
Fair value of plan assets at January 1 0.0 (0.1)  
Actual return on plan assets 0.0 0.0  
Foreign currency exchange rate changes 0.0 0.0  
Company contributions 0.9 1.2  
Plan participants’ contributions 0.4 0.3  
Settlements 0.0 0.0  
Benefits paid (1.3) (1.4)  
Fair value of plan assets at December 31 0.0 0.0 $ (0.1)
Funded Status      
Net funded status of the plan (liability) (7.2) (9.2)  
Amount recognized on the consolidated balance sheets:      
Pension asset 0.0 0.0  
Accrued benefit liability (7.2) (9.2)  
Total (7.2) (9.2)  
U.S. plans with assets | U.S.      
Funded Status      
Net funded status of the plan (liability) 0.0 0.0  
U.S. plans with assets | Non-U.S.      
Funded Status      
Net funded status of the plan (liability) 0.0 0.0  
U.S. plans without assets | U.S.      
Funded Status      
Net funded status of the plan (liability) (7.2) (9.2)  
All other plans      
Funded Status      
Net funded status of the plan (liability) (5.3) (5.3)  
All other plans      
Funded Status      
Net funded status of the plan (liability) $ 0.0 $ 0.0  
v3.25.0.1
Pension and Other Postretirement Benefits - Accumulated Other Comprehensive Income (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Pensions    
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]    
Prior service (cost) credit $ (0.1) $ (0.1)
Net actuarial (loss) gain (291.3) (309.9)
Accumulated other comprehensive income (loss) – pretax (291.4) (310.0)
Accumulated other comprehensive income (loss) – net of tax (215.1) (229.9)
Other Benefits    
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]    
Prior service (cost) credit 0.0 0.0
Net actuarial (loss) gain 5.6 5.3
Accumulated other comprehensive income (loss) – pretax 5.6 5.3
Accumulated other comprehensive income (loss) – net of tax $ 4.2 $ 3.9
v3.25.0.1
Pension and Other Postretirement Benefits - Narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Defined contribution plan, employer matching contribution, percent of match 80.00%    
Maximum percentage of employee's compensation eligible for employer matching contributions 5.00%    
Additional employer annual contribution (as a percent) 5.00%    
Charges for defined contribution plans $ 14.6 $ 19.1 $ 17.5
U.S.      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Expected return on plan assets   4.75% 2.50%
Decrease in rate of return on plan assets 0.25%    
Estimated inflation rate assumptions for rate of return on plan assets 2.30%    
U.S. | Fixed Income Investments      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Target asset allocation 100.00%    
Pensions      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Accumulated benefit obligation $ 946.2 $ 1,027.0  
Expected return on plan assets 4.50% 4.75% 2.50%
v3.25.0.1
Pension and Other Postretirement Benefits - PBO in Excess of Plan Assets (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Defined Benefit Plan, Pension Plan with Project Benefit Obligation in Excess of Plan Assets [Abstract]    
Projected benefit obligations $ 22.5 $ 25.2
Accumulated benefit obligations 23.1 26.1
Fair value of plan assets $ 3.9 $ 3.6
v3.25.0.1
Pension and Other Postretirement Benefits - Changes in Plan Assets and Benefit Obligations (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Total recognized in other comprehensive (income) loss, after taxes $ (15.8) $ (22.4) $ 6.6
Pensions      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Current year net actuarial loss (gain) (3.8) (12.2)  
Amortization of net actuarial (loss) gain (14.2) (15.5)  
Amortization of prior service (cost) credit 0.0 (0.1)  
Settlement loss (0.6) (0.1)  
Total recognized in other comprehensive (income) loss, before taxes (18.6) (27.9)  
Total recognized in other comprehensive (income) loss, after taxes (14.8) (22.8)  
Other Benefits      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Current year net actuarial loss (gain) (1.4) (1.4)  
Amortization of net actuarial (loss) gain 1.1 1.0  
Amortization of prior service (cost) credit 0.0 0.0  
Settlement loss 0.0 0.0  
Total recognized in other comprehensive (income) loss, before taxes (0.3) (0.4)  
Total recognized in other comprehensive (income) loss, after taxes $ (0.3) $ (0.3)  
v3.25.0.1
Pension and Other Postretirement Benefits - Net Annual Benefit (Cost) Assumptions (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Pensions      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Discount rate 4.97% 5.16% 2.84%
Expected return on plan assets 4.50% 4.75% 2.50%
Rate of compensation increase 3.10% 3.10% 3.10%
Components of net annual benefit cost:      
Service cost $ 1.8 $ 2.6 $ 3.6
Interest cost 48.2 50.4 29.3
Expected return on plan assets (44.5) (47.5) (33.1)
Amortization of prior service cost 0.0 0.1 0.2
Amortization of net actuarial and other (gain) loss 14.2 15.3 12.4
Recognized (gain) loss due to curtailments, settlements, and other 1.0 0.4 0.5
Net annual benefit cost (income) $ 20.7 $ 21.3 $ 12.9
Other Benefits      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Discount rate 5.40% 5.03% 2.39%
Expected return on plan assets 0.00% 0.00% 0.00%
Rate of compensation increase 0.00% 0.00% 0.00%
Components of net annual benefit cost:      
Service cost $ 0.0 $ 0.0 $ 0.0
Interest cost 0.4 0.5 0.3
Expected return on plan assets 0.0 0.0 0.0
Amortization of prior service cost 0.0 0.0 0.0
Amortization of net actuarial and other (gain) loss (1.1) (0.9) (0.8)
Recognized (gain) loss due to curtailments, settlements, and other
Net annual benefit cost (income) $ (0.7) $ (0.4) $ (0.5)
v3.25.0.1
Pension and Other Postretirement Benefits - Pension Plan Assets Fair Value (Details) - Pensions - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Fair value of plan assets $ 963.0 $ 1,041.3 $ 1,044.1
Quoted Prices in Active Markets for Identical Assets (Level 1)      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Fair value of plan assets 196.0 220.7  
Significant Other Observable Inputs (Level 2)      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Fair value of plan assets 767.0 820.6  
Significant Unobservable Inputs (Level 3)      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Fair value of plan assets 0.0 0.0  
Cash and short-term investments      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Fair value of plan assets 43.5 3.0  
Cash and short-term investments | Quoted Prices in Active Markets for Identical Assets (Level 1)      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Fair value of plan assets 43.5 3.0  
Cash and short-term investments | Significant Other Observable Inputs (Level 2)      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Fair value of plan assets 0.0 0.0  
Cash and short-term investments | Significant Unobservable Inputs (Level 3)      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Fair value of plan assets 0.0 0.0  
Investment contracts      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Fair value of plan assets 108.6 114.9  
Investment contracts | Quoted Prices in Active Markets for Identical Assets (Level 1)      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Fair value of plan assets 0.0 0.0  
Investment contracts | Significant Other Observable Inputs (Level 2)      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Fair value of plan assets 108.6 114.9  
Investment contracts | Significant Unobservable Inputs (Level 3)      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Fair value of plan assets 0.0 0.0  
U.S. Government Securities      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Fair value of plan assets 138.8 204.6  
U.S. Government Securities | Quoted Prices in Active Markets for Identical Assets (Level 1)      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Fair value of plan assets 138.8 204.6  
U.S. Government Securities | Significant Other Observable Inputs (Level 2)      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Fair value of plan assets 0.0 0.0  
U.S. Government Securities | Significant Unobservable Inputs (Level 3)      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Fair value of plan assets 0.0 0.0  
Mutual funds      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Fair value of plan assets 13.7 13.1  
Mutual funds | Quoted Prices in Active Markets for Identical Assets (Level 1)      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Fair value of plan assets 13.7 13.1  
Mutual funds | Significant Other Observable Inputs (Level 2)      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Fair value of plan assets 0.0 0.0  
Mutual funds | Significant Unobservable Inputs (Level 3)      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Fair value of plan assets 0.0 0.0  
Corporate debt instruments      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Fair value of plan assets 658.4 705.7  
Corporate debt instruments | Quoted Prices in Active Markets for Identical Assets (Level 1)      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Fair value of plan assets 0.0 0.0  
Corporate debt instruments | Significant Other Observable Inputs (Level 2)      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Fair value of plan assets 658.4 705.7  
Corporate debt instruments | Significant Unobservable Inputs (Level 3)      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Fair value of plan assets $ 0.0 $ 0.0  
v3.25.0.1
Pension and Other Postretirement Benefits - Contributions to Plans (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]    
Contributions to pension and other postretirement plans $ 5.5 $ 2.4
Pensions    
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]    
Contributions to pension and other postretirement plans 4.6 1.2
Pensions | Non-U.S.    
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]    
Contributions to pension and other postretirement plans 0.3 0.1
Other postretirement benefits    
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]    
Contributions to pension and other postretirement plans 0.9 1.2
U.S. qualified pension plan | Pensions | U.S.    
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]    
Contributions to pension and other postretirement plans 0.0 0.0
U.S. nonqualified pension plan | Pensions | U.S.    
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]    
Contributions to pension and other postretirement plans $ 4.3 $ 1.1
v3.25.0.1
Pension and Other Postretirement Benefits - Estimated Future Benefit Payments (Details)
$ in Millions
Dec. 31, 2024
USD ($)
Pensions  
Estimated Net Future Benefit Payments  
2025 $ 85.9
2026 85.8
2027 83.5
2028 82.6
2029 80.3
2030 - 2034 375.3
Other postretirement benefits  
Estimated Net Future Benefit Payments  
2025 0.9
2026 1.0
2027 0.9
2028 0.9
2029 0.8
2030 - 2034 $ 3.0
v3.25.0.1
Share-based Compensation (Details) - USD ($)
$ / shares in Units, $ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Apr. 27, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Awards vesting period 3 years        
Share-based payment award, expiration period 10 years        
Tax benefit from compensation expense $ 5.0 $ 5.4 $ 5.1    
Share-based compensation expense, after-tax 18.8 20.5 19.1    
Cash related stock options exercises $ 0.2 $ 5.3 $ 9.4    
Black Scholes valuation assumptions for stock option grants [Abstract]          
Options granted, weighted-average grant-date fair value (in dollars per share) $ 13.04 $ 42.08 $ 33.53    
Options exercisable (in shares) 1,299,000 824,000 672,000 605,000  
Options vested and expected to vest (in shares) 1,098,000 551,000 607,000 622,000  
Number of Options Granted But Not Exercised          
Beginning (in shares) 1,396,000 1,305,000 1,254,000    
Granted (in shares) 1,181,000 222,000 248,000    
Exercised (in shares) (5,000) (88,000) (166,000)    
Forfeited (in shares) (101,000) (43,000) (31,000)    
Ending (in shares) 2,471,000 1,396,000 1,305,000 1,254,000  
Weighted-Average Remaining Contractual Life 6 years 3 months 18 days 5 years 7 months 6 days 6 years 1 month 6 days 6 years 2 months 12 days  
Weighted-Average Exercise Price Per Share          
Beginning (in dollars per share) $ 94.73 $ 87.35 $ 78.95    
Granted (in dollars per share) 52.50 128.92 114.90    
Exercised (in dollars per share) 36.85 62.42 62.74    
Forfeited (in dollars per share) 79.32 114.15 102.32    
Ending (in dollars per share) $ 75.28 $ 94.73 $ 87.35 $ 78.95  
Aggregate Intrinsic Value (in Millions)          
Options outstanding, aggregate intrinsic value $ 0.5 $ 1.6 $ 48.9 $ 38.8  
Options exercised, aggregate intrinsic value $ 0.0 4.6 9.6    
Options exercisable, weighted-average exercise price per share (in dollars per share) $ 83.03        
FMC Corporation Incentive Compensation And Stock Plan          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Number of shares remaining available for grant (in shares)         1,600,000
Capital shares reserved for future issuance (in shares) 4,600,000        
Maximum | FMC Corporation Incentive Compensation And Stock Plan          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Number of shares of common stock authorized for issuance under the plan (in shares)         5,000,000
Employee Stock Option          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Awards vesting period 3 years        
Share-based payment award, expiration period 10 years        
Tax benefit from compensation expense $ 1.6 1.5 1.3    
Share-based compensation expense, after-tax $ 6.1 $ 5.9 $ 4.9    
Fair value assumptions, forfeiture rate 4.00%        
Black Scholes valuation assumptions for stock option grants [Abstract]          
Expected dividend yield 4.43% 1.80% 1.85%    
Expected volatility 34.08% 31.99% 33.18%    
Expected life (in years) 6 years 4 months 24 days 6 years 6 months 6 years 6 months    
Risk-free interest rate 4.26% 4.00% 1.91%    
Number of Options Granted But Not Exercised          
Weighted-Average Remaining Contractual Life 4 years        
Aggregate Intrinsic Value (in Millions)          
Options exercisable, intrinsic value $ 0.5        
Unrecognized compensation cost $ 9.8        
Unrecognized compensation cost, weighted-average period of recognition (in years) 1 year 8 months 12 days        
Restricted Stock Units (RSUs)          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Awards vesting period 3 years        
Tax benefit from compensation expense $ 2.6 $ 2.4 $ 2.3    
Share-based compensation expense, after-tax $ 9.8 $ 9.0 $ 8.5    
Fair value assumptions, forfeiture rate 2.00%        
Aggregate Intrinsic Value (in Millions)          
Unrecognized compensation cost $ 16.9        
Unrecognized compensation cost, weighted-average period of recognition (in years) 1 year 8 months 12 days        
Number of awards          
Nonvested awards, beginning (in shares) 282,000 257,000 270,000    
Granted (in shares) 297,000 118,000 103,000    
Vested (in shares) (99,000) (78,000) (102,000)    
Forfeited (in shares) (22,000) (15,000) (14,000)    
Nonvested awards, ending (in shares) 458,000 282,000 257,000 270,000  
Weighted-Average Grant Date Fair Value Per Share          
Nonvested awards, beginning (in dollars per share) $ 109.67 $ 104.54 $ 89.56    
Granted (in dollars per share) 53.41 110.71 114.50    
Vested (in dollars per share) 100.69 93.32 77.80    
Forfeited (in dollars per share) 86.19 114.88 102.64    
Nonvested awards, ending (in dollars per share) $ 76.34 $ 109.67 $ 104.54 $ 89.56  
Restricted Stock Units (RSUs) | Director          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Number of shares of common stock credited to directors' accounts for RSUs (in shares) 207,515 173,487      
Performance Shares          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Tax benefit from compensation expense $ 0.8 $ 1.5 $ 1.5    
Share-based compensation expense, after-tax $ 2.9 $ 5.6 $ 5.7    
Number of awards          
Nonvested awards, beginning (in shares) 153,000 136,000 195,000    
Granted (in shares) 105,000 81,000 45,000    
Vested (in shares) (15,000) (58,000) (102,000)    
Forfeited (in shares) (7,000) (6,000) (2,000)    
Nonvested awards, ending (in shares) 236,000 153,000 136,000 195,000  
Weighted-Average Grant Date Fair Value Per Share          
Nonvested awards, beginning (in dollars per share) $ 131.60 $ 120.47 $ 96.18    
Granted (in dollars per share) 50.01 137.18 140.32    
Vested (in dollars per share) 100.63 108.57 83.74    
Forfeited (in dollars per share) 62.06 136.25 125.60    
Nonvested awards, ending (in dollars per share) $ 85.65 $ 131.60 $ 120.47 $ 96.18  
v3.25.0.1
Equity - Summary of Capital Stock Activity (Details) - shares
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Equity [Abstract]        
Common stock, shares issued (in shares) 185,983,792 185,983,792 185,983,792 185,983,792
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Treasury stock, shares, ending (in shares) 61,223,032 60,872,988 60,284,313  
Stock options and awards (in shares) (122,288) (301,008) (286,805)  
Repurchases of common stock, net (in shares) 42,146 651,052 875,480  
Treasury stock, shares, ending (in shares) 61,142,890 61,223,032 60,872,988  
v3.25.0.1
Equity - Schedule of Accumulated Other Comprehensive Loss) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
AOCI Attributable to Parent, Net of Tax [Roll Forward]      
Beginning balance $ 4,433.4 $ 3,400.9 $ 3,143.7
Ending balance 4,508.8 4,433.4 3,400.9
Total      
AOCI Attributable to Parent, Net of Tax [Roll Forward]      
Beginning balance (406.5) (459.6) (325.5)
Other comprehensive income (loss) before reclassifications (14.5) (31.8) (183.3)
Amounts reclassified from accumulated other comprehensive income (loss) 10.4 84.9 49.2
Ending balance (410.6) (406.5) (459.6)
Foreign currency adjustments      
AOCI Attributable to Parent, Net of Tax [Roll Forward]      
Beginning balance (131.3) (160.5) (62.5)
Other comprehensive income (loss) before reclassifications (52.6) 29.2 (102.2)
Amounts reclassified from accumulated other comprehensive income (loss) 0.0 0.0 4.2
Ending balance (183.9) (131.3) (160.5)
Derivative instruments:      
AOCI Attributable to Parent, Net of Tax [Roll Forward]      
Beginning balance (50.2) (51.7) (22.2)
Other comprehensive income (loss) before reclassifications 33.2 (72.4) (65.4)
Amounts reclassified from accumulated other comprehensive income (loss) (0.5) 73.9 35.9
Ending balance (17.5) (50.2) (51.7)
Pension and other postretirement benefits      
AOCI Attributable to Parent, Net of Tax [Roll Forward]      
Beginning balance (225.0) (247.4) (240.8)
Other comprehensive income (loss) before reclassifications 4.9 11.4 (15.7)
Amounts reclassified from accumulated other comprehensive income (loss) 10.9 11.0 9.1
Ending balance $ (209.2) $ (225.0) $ (247.4)
v3.25.0.1
Equity - Reclassification Out of Accumulated Other Comprehensive Income (Details) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Dec. 31, 2024
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2023
Sep. 30, 2023
Jun. 30, 2023
Mar. 31, 2023
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Derivative instruments:                      
Restructuring and other charges (income) $ (45.6) $ (0.9) $ (2.8) $ (12.5) $ (57.2) $ (8.3) $ (21.5) $ (11.5) $ (61.8) $ (98.5) $ (97.2)
Costs of sales and services                 (2,597.2) (2,655.8) (3,475.5)
Selling, general and administrative expenses                 (644.6) (734.3) (775.2)
Interest expense, net                 235.8 237.2 151.8
Income (loss) from continuing operations before income taxes                 252.5 300.2 983.9
Provision for income taxes                 150.9 1,119.3 (145.2)
Net income (loss) (16.1) 65.6 295.2 (3.1) 1,096.4 (3.7) 32.4 195.9 341.6 1,321.0 741.5
Pension and Other Postretirement Benefits Cost (Reversal of Cost) [Abstract]                      
Selling, general and administrative expenses                 (644.6) (734.3) (775.2)
Non-operating pension and postretirement charges (income)                 $ 18.2 $ 18.2 $ 8.6
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) Excluding Service Cost, Statement of Income or Comprehensive Income [Extensible Enumeration]                 Non-operating pension and postretirement charges (income) Non-operating pension and postretirement charges (income) Non-operating pension and postretirement charges (income)
Net income (loss) $ (16.1) $ 65.6 $ 295.2 $ (3.1) $ 1,096.4 $ (3.7) $ 32.4 $ 195.9 $ 341.6 $ 1,321.0 $ 741.5
Reclassification out of Accumulated Other Comprehensive Income                      
Derivative instruments:                      
Net income (loss)                 (10.4) (84.9) (49.2)
Pension and Other Postretirement Benefits Cost (Reversal of Cost) [Abstract]                      
Net income (loss)                 (10.4) (84.9) (49.2)
Reclassification out of Accumulated Other Comprehensive Income | Foreign currency adjustments                      
Derivative instruments:                      
Restructuring and other charges (income)                 0.0 0.0 (4.2)
Reclassification out of Accumulated Other Comprehensive Income | Derivative instruments:                      
Derivative instruments:                      
Income (loss) from continuing operations before income taxes                 1.1 (105.6) (55.0)
Provision for income taxes                 (0.6) 31.7 19.1
Net income (loss)                 0.5 (73.9) (35.9)
Pension and Other Postretirement Benefits Cost (Reversal of Cost) [Abstract]                      
Net income (loss)                 0.5 (73.9) (35.9)
Reclassification out of Accumulated Other Comprehensive Income | Pension and other postretirement benefits                      
Derivative instruments:                      
Income (loss) from continuing operations before income taxes                 (13.7) (13.9) (11.5)
Provision for income taxes                 2.8 2.9 2.4
Net income (loss)                 (10.9) (11.0) (9.1)
Pension and Other Postretirement Benefits Cost (Reversal of Cost) [Abstract]                      
Net income (loss)                 (10.9) (11.0) (9.1)
Reclassification out of Accumulated Other Comprehensive Income | Amortization of prior service costs                      
Derivative instruments:                      
Selling, general and administrative expenses                 0.0 (0.1) (0.1)
Pension and Other Postretirement Benefits Cost (Reversal of Cost) [Abstract]                      
Selling, general and administrative expenses                 0.0 (0.1) (0.1)
Reclassification out of Accumulated Other Comprehensive Income | Amortization of unrecognized net actuarial and other gains (losses) | Non-operating pension and postretirement charges (income)                      
Pension and Other Postretirement Benefits Cost (Reversal of Cost) [Abstract]                      
Non-operating pension and postretirement charges (income)                 (12.7) (13.8) (10.9)
Reclassification out of Accumulated Other Comprehensive Income | Recognized loss due to curtailment and settlement | Non-operating pension and postretirement charges (income); Discontinued operations, net of income taxes                      
Pension and Other Postretirement Benefits Cost (Reversal of Cost) [Abstract]                      
Non-operating pension and postretirement charges (income)                 (1.0) 0.0 (0.5)
Reclassification out of Accumulated Other Comprehensive Income | Gain (loss) on foreign currency contracts | Derivative instruments:                      
Derivative instruments:                      
Costs of sales and services                 3.0 (110.5) (57.5)
Selling, general and administrative expenses                 0.0 7.3 6.5
Pension and Other Postretirement Benefits Cost (Reversal of Cost) [Abstract]                      
Selling, general and administrative expenses                 0.0 7.3 6.5
Reclassification out of Accumulated Other Comprehensive Income | Interest rate contracts | Derivative instruments:                      
Derivative instruments:                      
Interest expense, net                 $ (1.9) $ (2.4) $ (4.0)
v3.25.0.1
Equity - Additional Information (Details) - USD ($)
$ in Millions
 12 Months Ended
Jan. 16, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Feb. 28, 2022
Subsequent Event [Line Items]          
Dividends paid [1]   $ 290.6 $ 290.5 $ 267.5  
Repurchases of common stock, net (in shares)   42,146 651,052 875,480  
Remaining authorized shares under repurchase program   $ 825.0      
Subsequent Event          
Subsequent Event [Line Items]          
Dividends $ 72.6        
Repurchase Program          
Subsequent Event [Line Items]          
Authorized stock repurchase amount         $ 1,000.0
Repurchases of common stock, net (in shares)   0      
[1] See Note 15 to the consolidated financial statements included within this Form 10-K regarding our quarterly cash dividend.
v3.25.0.1
Leases - Narrative (Details)
Dec. 31, 2024
Minimum  
Lessee, Lease, Description [Line Items]  
Lease term 1 year
Minimum | Real Estate Properties  
Lessee, Lease, Description [Line Items]  
Lease term 1 year
Minimum | Non-Real Estate Properties  
Lessee, Lease, Description [Line Items]  
Lease term 1 year
Maximum  
Lessee, Lease, Description [Line Items]  
Lease term 20 years
Maximum | Real Estate Properties  
Lessee, Lease, Description [Line Items]  
Lease term 20 years
Maximum | Non-Real Estate Properties  
Lessee, Lease, Description [Line Items]  
Lease term 10 years
v3.25.0.1
Leases - Asset and Lease Liability (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Assets    
Operating lease ROU assets $ 110.4 $ 121.8
Operating lease, right-of-use asset, statement of financial position Other assets including long-term receivables, net Other assets including long-term receivables, net
Liabilities    
Operating lease current liabilities $ 24.5 $ 24.4
Operating lease noncurrent liabilities $ 106.1 $ 123.2
Operating lease, liability, current, statement of financial position Accrued and other liabilities Accrued and other liabilities
Operating lease, liability, noncurrent, statement of financial position Other long-term liabilities Other long-term liabilities
v3.25.0.1
Leases - Components of Lease Expense (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Leases [Abstract]      
Operating lease cost $ 36.1 $ 33.2 $ 32.9
Variable lease cost 12.6 13.3 6.3
Total lease cost $ 48.7 $ 46.5 $ 39.2
v3.25.0.1
Leases - Operating Lease Term and Discount Rate (Details)
Dec. 31, 2024
Operating Lease Term and Discount Rate  
Weighted-average remaining lease term (years) 6 years 6 months
Weighted-average discount rate 4.80%
v3.25.0.1
Leases - Cash Flow Information (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Cash paid for amounts included in the measurement of lease liabilities:    
Operating cash flows from operating leases $ (41.2) $ (35.9)
Supplemental non-cash information on lease liabilities arising from obtaining right-of-use assets:    
Right-of-use assets obtained in exchange for new operating lease liabilities $ 14.2 $ 21.4
v3.25.0.1
Leases - Future Minimum Lease Payments (Details)
$ in Millions
Dec. 31, 2024
USD ($)
Maturity of Lease Liabilities  
2025 $ 29.8
2026 25.3
2027 22.3
2028 18.6
2029 17.0
Thereafter 39.7
Total undiscounted lease payments 152.7
Less: Present value adjustment (22.1)
Present value of lease liabilities $ 130.6
v3.25.0.1
Earnings Per Share (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Millions
 3 Months Ended 12 Months Ended
Dec. 31, 2024
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2023
Sep. 30, 2023
Jun. 30, 2023
Mar. 31, 2023
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Earnings Per Share [Abstract]                      
Antidilutive shares excluded from diluted EPS (in shares)                 2,100 700 400
Earnings (loss) attributable to FMC stockholders:                      
Continuing operations, net of income taxes $ 29.3 $ 65.9 $ 297.9 $ 9.8 $ 1,155.7 $ 4.8 $ 52.0 $ 207.5 $ 402.9 $ 1,420.0 $ 833.7
Discontinued operations, net of income taxes (45.6) (0.9) (2.8) (12.5) (57.2) (8.3) (21.5) (11.5) (61.8) (98.5) (97.2)
Net income (loss) attributable to FMC stockholders $ (16.3) $ 65.0 $ 295.1 $ (2.7) $ 1,098.5 $ (3.5) $ 30.5 $ 196.0 341.1 1,321.5 736.5
Less: Distributed and undistributed earnings allocable to restricted award holders                 (1.2) (2.7) (1.7)
Net income (loss) allocable to common stockholders                 $ 339.9 $ 1,318.8 $ 734.8
Basic earnings (loss) per common share attributable to FMC stockholders:                      
Continuing operations (in dollars per share) $ 0.23 $ 0.53 $ 2.37 $ 0.08 $ 9.23 $ 0.04 $ 0.41 $ 1.65 $ 3.22 $ 11.34 $ 6.60
Discontinued operations (in dollars per share) (0.36) (0.01) (0.02) (0.10) (0.46) (0.07) (0.17) (0.09) (0.49) (0.79) (0.77)
Net income (loss) attributable to FMC stockholders (in dollars per share) (0.13) 0.52 2.35 (0.02) 8.77 (0.03) 0.24 1.56 2.73 10.55 5.83
Diluted earnings (loss) per common share attributable to FMC stockholders:                      
Continuing operations (in dollars per share) 0.23 0.53 2.37 0.08 9.23 0.04 0.41 1.64 3.21 11.31 6.58
Discontinued operations (in dollars per share) (0.36) (0.01) (0.02) (0.10) (0.46) (0.07) (0.17) (0.09) (0.49) (0.78) (0.77)
Net income (loss) attributable to FMC stockholders (in dollars per share) $ (0.13) $ 0.52 $ 2.35 $ (0.02) $ 8.77 $ (0.03) $ 0.24 $ 1.55 $ 2.72 $ 10.53 $ 5.81
Shares (in thousands):                      
Weighted average number of shares of common stock outstanding - Basic (in shares) 125,000 125,000 125,000 124,900 124,900 124,900 125,100 125,300 125,004 125,060 125,975
Weighted average additional shares assuming conversion of potential common shares (in shares)                 354 473 732
Shares - diluted basis (in shares) 125,500 125,500 125,400 125,200 125,200 125,300 125,700 126,100 125,358 125,533 126,707
v3.25.0.1
Financial Instruments, Risk Management and Fair Value Measurements - Narrative (Details)
$ in Millions
Dec. 31, 2024
USD ($)
MMBTU
Dec. 31, 2023
USD ($)
Segment Reporting Information [Line Items]    
Estimated fair value of debt $ 3,223.6 $ 3,988.2
Carrying amount of debt 3,365.3 $ 3,957.6
Gain (loss) on foreign currency contracts | Not Designated as Hedging Instruments    
Segment Reporting Information [Line Items]    
Derivative, notional amount 3,195.0  
Gain (loss) on foreign currency contracts | Cash Flow Hedging | Designated as Cash Flow Hedges    
Segment Reporting Information [Line Items]    
AOCI in a net after-tax position 12.1  
Forward Contracts | Cash Flow Hedging | Designated as Cash Flow Hedges    
Segment Reporting Information [Line Items]    
AOCI in a net after-tax position 654.2  
Interest rate contracts | Cash Flow Hedging | Designated as Cash Flow Hedges    
Segment Reporting Information [Line Items]    
AOCI in a net after-tax position $ (26.2)  
Energy contracts | Designated as Cash Flow Hedges    
Segment Reporting Information [Line Items]    
Aggregate notional volume of outstanding natural gas (mmBTU) | MMBTU 0  
Foreign currency and energy contracts | Designated as Cash Flow Hedges    
Segment Reporting Information [Line Items]    
Gain on derivative contracts $ 12.1  
v3.25.0.1
Financial Instrument, Risk Management and Fair Value Measurements - Derivatives Fair Value Balance Sheet Presentation (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Derivative Asset [Abstract]    
Total Gross Amounts $ 47.0 $ 5.7
Gross Amounts Subject to Master Netting Arrangements (12.9) (5.5)
Net Amounts 34.1 0.2
Derivative Liability [Abstract]    
Derivative liabilities (12.9) (17.1)
Gross amounts subject to Master Netting Arrangements 12.9 5.5
Net Amounts 0.0 (11.6)
Net derivative assets (liabilities) 34.1 (11.4)
Netting arrangement, gross amounts subject to master netting arrangements 0.0 0.0
Net amounts of derivative assets (liabilities) 34.1 (11.4)
Designated as Cash Flow Hedges    
Derivative Asset [Abstract]    
Total Gross Amounts 25.0 2.7
Derivative Liability [Abstract]    
Derivative liabilities (8.3) (9.7)
Net derivative assets (liabilities) 16.7 (7.0)
Not Designated as Hedging Instruments    
Derivative Asset [Abstract]    
Total Gross Amounts 22.0 3.0
Derivative Liability [Abstract]    
Derivative liabilities (4.6) (7.4)
Net derivative assets (liabilities) 17.4 (4.4)
Foreign exchange contracts    
Derivative Asset [Abstract]    
Total Gross Amounts 47.0 5.7
Gross Amounts Subject to Master Netting Arrangements (12.9) (5.5)
Net Amounts 34.1 0.2
Derivative Liability [Abstract]    
Derivative liabilities (12.9) (17.1)
Gross amounts subject to Master Netting Arrangements 12.9 5.5
Net Amounts 0.0 (11.6)
Foreign exchange contracts | Designated as Cash Flow Hedges    
Derivative Asset [Abstract]    
Total Gross Amounts 25.0 2.7
Derivative Liability [Abstract]    
Derivative liabilities (8.3) (9.7)
Foreign exchange contracts | Not Designated as Hedging Instruments    
Derivative Asset [Abstract]    
Total Gross Amounts 22.0 3.0
Derivative Liability [Abstract]    
Derivative liabilities $ (4.6) $ (7.4)
v3.25.0.1
Financial Instrument, Risk Management and Fair Value Measurements - Derivatives Gain (Loss) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Accumulated Other Comprehensive Income [Roll Forward]      
Beginning balance $ 4,433.4 $ 3,400.9 $ 3,143.7
Unrealized hedging gains (losses) and other, net of tax 33.2 (72.4) (65.4)
Reclassification of deferred hedging (gains) losses, net of tax [1] (0.5) 73.9 35.9
Total derivative instrument impact on comprehensive income, net of tax 32.7 1.5 (29.5)
Ending balance $ 4,508.8 $ 4,433.4 $ 3,400.9
Cost of Goods and Services Sold      
Derivatives Not Designated as Hedging Instruments      
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Costs of sales and services Costs of sales and services Costs of sales and services
Selling, General and Administrative Expenses      
Derivatives Not Designated as Hedging Instruments      
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Selling, general and administrative expenses Selling, general and administrative expenses Selling, general and administrative expenses
Accumulated Gain (Loss), Cash Flow Hedge, Including Noncontrolling Interest      
Accumulated Other Comprehensive Income [Roll Forward]      
Beginning balance $ (50.2) $ (51.7) $ (22.2)
Ending balance (17.5) (50.2) (51.7)
Gain (loss) on foreign currency contracts | Accumulated Gain (Loss), Cash Flow Hedge, Including Noncontrolling Interest      
Accumulated Other Comprehensive Income [Roll Forward]      
Beginning balance (22.4) (22.4) 31.1
Ending balance 8.7 (22.4) (22.4)
Interest rate contracts | Accumulated Gain (Loss), Cash Flow Hedge, Including Noncontrolling Interest      
Accumulated Other Comprehensive Income [Roll Forward]      
Beginning balance (27.8) (29.3) (53.3)
Ending balance (26.2) (27.8) (29.3)
Designated as Cash Flow Hedges | Accumulated Gain (Loss), Cash Flow Hedge, Including Noncontrolling Interest      
Accumulated Other Comprehensive Income [Roll Forward]      
Unrealized hedging gains (losses) and other, net of tax 33.2 (72.4) (65.4)
Reclassification of deferred hedging (gains) losses, net of tax (0.5) 73.9 35.9
Total derivative instrument impact on comprehensive income, net of tax 32.7 1.5 (29.5)
Designated as Cash Flow Hedges | Gain (loss) on foreign currency contracts | Accumulated Gain (Loss), Cash Flow Hedge, Including Noncontrolling Interest      
Accumulated Other Comprehensive Income [Roll Forward]      
Unrealized hedging gains (losses) and other, net of tax 33.2 (72.0) (86.3)
Reclassification of deferred hedging (gains) losses, net of tax (2.1) 72.0 32.8
Total derivative instrument impact on comprehensive income, net of tax 31.1 0.0 (53.5)
Designated as Cash Flow Hedges | Interest rate contracts | Accumulated Gain (Loss), Cash Flow Hedge, Including Noncontrolling Interest      
Accumulated Other Comprehensive Income [Roll Forward]      
Unrealized hedging gains (losses) and other, net of tax 0.0 (0.4) 20.9
Reclassification of deferred hedging (gains) losses, net of tax 1.6 1.9 3.1
Total derivative instrument impact on comprehensive income, net of tax 1.6 1.5 24.0
Not Designated as Hedging Instruments      
Derivatives Not Designated as Hedging Instruments      
Amount of pre-tax gain (loss) recognized in income on derivatives (6.1) (33.7) (37.2)
Not Designated as Hedging Instruments | Gain (loss) on foreign currency contracts      
Derivatives Not Designated as Hedging Instruments      
Amount of pre-tax gain (loss) recognized in income on derivatives $ (6.1) $ (33.7) $ (37.2)
[1] For more detail on the components of these reclassifications and the affected line item on the consolidated statements of income (loss), see Note 15 to the consolidated financial statements included within this Form 10-K for further details.
v3.25.0.1
Financial Instruments, Risk Management and Fair Value Measurements - Recurring Fair Value Adjustments (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Assets    
Derivatives - Foreign exchange $ 47.0 $ 5.7
Liabilities    
Derivatives 12.9 17.1
Foreign exchange contracts    
Assets    
Derivatives - Foreign exchange 47.0 5.7
Liabilities    
Derivatives 12.9 17.1
Fair Value, Measurements, Recurring    
Assets    
Other 120.1 47.1
Total Assets 154.2 47.3
Liabilities    
Other 23.2 24.4
Total Liabilities 23.2 36.0
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1)    
Assets    
Other 84.1 23.8
Total Assets 84.1 23.8
Liabilities    
Other 23.2 24.4
Total Liabilities 23.2 24.4
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2)    
Assets    
Other 0.0 0.0
Total Assets 34.1 0.2
Liabilities    
Other 0.0 0.0
Total Liabilities 0.0 11.6
Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3)    
Assets    
Other 36.0 23.3
Total Assets 36.0 23.3
Liabilities    
Other 0.0 0.0
Total Liabilities 0.0 0.0
Fair Value, Measurements, Recurring | Foreign exchange contracts    
Assets    
Derivatives - Foreign exchange 34.1 0.2
Liabilities    
Derivatives 0.0 11.6
Fair Value, Measurements, Recurring | Foreign exchange contracts | Quoted Prices in Active Markets for Identical Assets (Level 1)    
Assets    
Derivatives - Foreign exchange 0.0 0.0
Liabilities    
Derivatives 0.0 0.0
Fair Value, Measurements, Recurring | Foreign exchange contracts | Significant Other Observable Inputs (Level 2)    
Assets    
Derivatives - Foreign exchange 34.1 0.2
Liabilities    
Derivatives 0.0 11.6
Fair Value, Measurements, Recurring | Foreign exchange contracts | Significant Unobservable Inputs (Level 3)    
Assets    
Derivatives - Foreign exchange 0.0 0.0
Liabilities    
Derivatives 0.0 0.0
Fair Value, Measurements, Recurring | Interest Rate    
Assets    
Derivatives - Foreign exchange 0.0 0.0
Liabilities    
Derivatives 0.0 0.0
Fair Value, Measurements, Recurring | Interest Rate | Quoted Prices in Active Markets for Identical Assets (Level 1)    
Assets    
Derivatives - Foreign exchange 0.0 0.0
Liabilities    
Derivatives 0.0 0.0
Fair Value, Measurements, Recurring | Interest Rate | Significant Other Observable Inputs (Level 2)    
Assets    
Derivatives - Foreign exchange 0.0 0.0
Liabilities    
Derivatives 0.0 0.0
Fair Value, Measurements, Recurring | Interest Rate | Significant Unobservable Inputs (Level 3)    
Assets    
Derivatives - Foreign exchange 0.0 0.0
Liabilities    
Derivatives $ 0.0 $ 0.0
v3.25.0.1
Guarantees, Commitments and Contingencies - Schedule of Estimated Undiscounted Potential Future Payments for Guarantees (Details)
$ in Millions
 12 Months Ended
Dec. 31, 2024
USD ($)
Guarantor Obligations [Line Items]  
Undiscounted exposure from guarantees $ 157.9
Guarantees of vendor financing - short term  
Guarantor Obligations [Line Items]  
Undiscounted exposure from guarantees 85.5
Other debt guarantees  
Guarantor Obligations [Line Items]  
Undiscounted exposure from guarantees $ 72.4
Guarantee, term 1 year
v3.25.0.1
Guarantees, Commitments and Contingencies - Narrative (Details)
€ in Millions, $ in Millions
 12 Months Ended
Feb. 14, 2025
case
Nov. 29, 2024
EUR (€)
Dec. 31, 2024
USD ($)
case
Dec. 31, 2024
EUR (€)
Dec. 31, 2023
USD ($)
Loss Contingencies [Line Items]          
Minimum commitments under take-or-pay purchase obligation     $ 288.1    
Loss contingency, pending claims, number | case     1,100    
Payments for legal settlements | €       € 200  
Loss Contingency, Damages Sought, Value | €   € 146      
Estimate of loss contingency in excess of accrual     $ 290.0    
Subsequent Event          
Loss Contingencies [Line Items]          
Loss contingency, new claims filed, number | case 2        
Indirect tax matters          
Loss Contingencies [Line Items]          
Loss contingency reserves     12.2    
Brazil | Unfavorable regulatory action          
Loss Contingencies [Line Items]          
Loss contingency reserves     2.3   $ 5.8
Estimate of loss contingency in excess of accrual     $ 74.6    
v3.25.0.1
Segment Information, External Customers and Long-lived Assets (Details)
$ in Millions
 12 Months Ended
Dec. 31, 2024
USD ($)
Segments
Dec. 31, 2023
USD ($)
Segment Reporting [Abstract]    
Number of segments | Segments 1  
Revenues from External Customers and Long-Lived Assets [Line Items]    
Long-lived assets $ 5,171.2 $ 5,460.5
North America    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Long-lived assets 956.0 1,063.4
Latin America    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Long-lived assets 278.8 714.8
Europe, Middle East & Africa    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Long-lived assets 3,685.4 1,718.2
Asia    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Long-lived assets 251.0 1,964.1
Singapore    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Long-lived assets 5.0 1,699.6
U.S.    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Long-lived assets 941.6 1,036.7
Denmark    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Long-lived assets 1,280.1 $ 1,334.0
SWITZERLAND    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Long-lived assets $ 2,050.8  
v3.25.0.1
Supplemental Information (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Prepaid and other current assets    
Prepaid insurance $ 12.7 $ 15.3
Tax related items including value added tax receivables 262.3 241.9
Refund asset 113.1 59.5
Environmental obligation recoveries 1.0 1.5
Derivative assets 47.0 5.7
Other prepaid and current assets 60.1 75.0
Total 496.2 398.9
Other assets including long-term receivables, net    
Non-current receivables (Note 8) 39.7 19.5
Advance to contract manufacturers 17.4 97.1
Capitalized software, net 112.1 123.3
Environmental obligation recoveries (Note 10) 2.8 3.4
Beneficial interest in trade receivables securitization (Note 18) 36.0 23.3
Income taxes indirect benefits 35.2 19.7
Operating lease ROU asset (Note 16) 110.4 121.8
Deferred compensation arrangements (Note 18) 22.3 23.8
Pension and other postretirement benefits (Note 13) 31.7 30.7
Other long-term assets 20.6 26.9
Total 428.2 489.5
Accrued and other liabilities    
Restructuring reserves (Note 7) 58.3 47.4
Dividend payable (Note 15) 72.6 72.5
Accrued payroll 62.2 55.5
Environmental reserves, current, net of recoveries (Note 10) 91.8 97.4
Derivative liabilities (Note 18) 12.9 17.1
Furadan® product exit asset retirement obligations (Note 1) 4.0 5.0
Operating lease current liabilities (Note 16) 24.5 24.4
Other accrued and other liabilities 428.9 365.5
Total 755.2 684.8
Other long-term liabilities    
Restructuring reserves (Note 7) 92.8 3.0
Furadan® product exit asset retirement obligations (Note 1) 3.5 1.4
Transition tax related to Tax Cuts and Jobs Act 0.0 23.3
Contingencies related to uncertain tax positions 58.3 62.4
Deferred compensation arrangements (Note 18) 23.2 24.4
Self-insurance reserves (primarily workers' compensation) 2.6 2.3
Lease obligations (Note 16) 106.1 123.2
Reserve for discontinued operations (Note 9) 154.2 135.6
Unfavorable contracts 5.5 5.6
Other long-term liabilities 24.5 26.2
Total $ 470.7 $ 407.4
v3.25.0.1
Quarterly Financial Information (Unaudited) (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Millions
 3 Months Ended 12 Months Ended
Dec. 31, 2024
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2023
Sep. 30, 2023
Jun. 30, 2023
Mar. 31, 2023
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Quarterly Financial Information Disclosure [Abstract]                      
Revenue $ 1,224.3 $ 1,065.4 $ 1,038.4 $ 918.0 $ 1,146.1 $ 981.9 $ 1,014.5 $ 1,344.3 $ 4,246.1 $ 4,486.8 $ 5,802.3
Gross margin 524.7 386.4 398.1 339.7 435.7 381.2 432.8 581.3 1,648.9 1,831.0 2,326.8
Income (loss) from continuing operations before equity in (earnings) loss of affiliates, non-operating pension and postretirement charges (income), interest expense, net and income taxes 234.6 135.6 62.3 74.0 18.1 100.8 132.2 304.5 506.5 555.6 1,144.3
Income (loss) from continuing operations 29.5 66.5 298.0 9.4 1,153.6 4.6 53.9 207.4 403.4 1,419.5 838.7
Discontinued operations, net of income taxes (45.6) (0.9) (2.8) (12.5) (57.2) (8.3) (21.5) (11.5) (61.8) (98.5) (97.2)
Net income (loss) (16.1) 65.6 295.2 (3.1) 1,096.4 (3.7) 32.4 195.9 341.6 1,321.0 741.5
Less: Net income (loss) attributable to noncontrolling interests 0.2 0.6 0.1 (0.4) (2.1) (0.2) 1.9 (0.1) 0.5 (0.5) 5.0
Net income (loss) attributable to FMC stockholders (16.3) 65.0 295.1 (2.7) 1,098.5 (3.5) 30.5 196.0      
Earnings (loss) attributable to FMC stockholders:                      
Continuing operations, net of income taxes 29.3 65.9 297.9 9.8 1,155.7 4.8 52.0 207.5 402.9 1,420.0 833.7
Discontinued operations, net of income taxes (45.6) (0.9) (2.8) (12.5) (57.2) (8.3) (21.5) (11.5) (61.8) (98.5) (97.2)
Net income (loss) attributable to FMC stockholders $ (16.3) $ 65.0 $ 295.1 $ (2.7) $ 1,098.5 $ (3.5) $ 30.5 $ 196.0 $ 341.1 $ 1,321.5 $ 736.5
Basic earnings (loss) per common share attributable to FMC stockholders:                      
Continuing operations (in dollars per share) $ 0.23 $ 0.53 $ 2.37 $ 0.08 $ 9.23 $ 0.04 $ 0.41 $ 1.65 $ 3.22 $ 11.34 $ 6.60
Discontinued operations (in dollars per share) (0.36) (0.01) (0.02) (0.10) (0.46) (0.07) (0.17) (0.09) (0.49) (0.79) (0.77)
Basic net income (loss) per common share (in dollars per share) (0.13) 0.52 2.35 (0.02) 8.77 (0.03) 0.24 1.56 2.73 10.55 5.83
Diluted earnings (loss) per common share attributable to FMC stockholders:                      
Continuing operations (in dollars per share) 0.23 0.53 2.37 0.08 9.23 0.04 0.41 1.64 3.21 11.31 6.58
Discontinued operations (in dollars per share) (0.36) (0.01) (0.02) (0.10) (0.46) (0.07) (0.17) (0.09) (0.49) (0.78) (0.77)
Diluted net income (loss) per common share (in dollars per share) $ (0.13) $ 0.52 $ 2.35 $ (0.02) $ 8.77 $ (0.03) $ 0.24 $ 1.55 $ 2.72 $ 10.53 $ 5.81
Shares (in thousands):                      
Basic (in shares) 125,000 125,000 125,000 124,900 124,900 124,900 125,100 125,300 125,004 125,060 125,975
Diluted (in shares) 125,500 125,500 125,400 125,200 125,200 125,300 125,700 126,100 125,358 125,533 126,707
v3.25.0.1
Schedule II - Valuation and Qualifying Accounts and Reserves (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Reserve for doubtful accounts      
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]      
Balance, Beginning of Year $ 56.2 $ 78.4 $ 65.1
Charged to Costs and Expenses 10.4 6.3 (0.5)
Charged to Other Comprehensive Income 0.0 0.0 0.0
Net recoveries, write-offs and other (5.9) (28.5) 13.8
Balance, End of Year 60.7 56.2 78.4
Deferred tax valuation allowance      
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]      
Balance, Beginning of Year 588.4 457.6 398.7
Charged to Costs and Expenses 625.7 130.5 61.5
Charged to Other Comprehensive Income (0.3) 0.3 (2.6)
Net recoveries, write-offs and other 0.0 0.0 0.0
Balance, End of Year $ 1,213.8 $ 588.4 $ 457.6