10-Q 1 fmc-20210930.htm 10-Q fmc-20210930
000003778512/312021Q3FALSEP1YP1YP1Yhttp://fasb.org/us-gaap/2021-01-31#OtherAssetsNoncurrenthttp://fasb.org/us-gaap/2021-01-31#OtherAssetsNoncurrenthttp://fasb.org/us-gaap/2021-01-31#AccruedLiabilitiesCurrenthttp://fasb.org/us-gaap/2021-01-31#AccruedLiabilitiesCurrenthttp://fasb.org/us-gaap/2021-01-31#OtherLiabilitiesNoncurrenthttp://fasb.org/us-gaap/2021-01-31#OtherLiabilitiesNoncurrent00000377852021-01-012021-09-30xbrli:shares00000377852021-09-30iso4217:USD00000377852021-07-012021-09-3000000377852020-07-012020-09-3000000377852020-01-012020-09-30iso4217:USDxbrli:shares00000377852020-12-3100000377852019-12-3100000377852020-09-300000037785us-gaap:CommonStockMember2020-12-310000037785us-gaap:AdditionalPaidInCapitalMember2020-12-310000037785us-gaap:RetainedEarningsMember2020-12-310000037785us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-12-310000037785us-gaap:TreasuryStockMember2020-12-310000037785us-gaap:NoncontrollingInterestMember2020-12-310000037785us-gaap:RetainedEarningsMember2021-01-012021-03-310000037785us-gaap:NoncontrollingInterestMember2021-01-012021-03-3100000377852021-01-012021-03-310000037785us-gaap:AdditionalPaidInCapitalMember2021-01-012021-03-310000037785us-gaap:TreasuryStockMember2021-01-012021-03-310000037785us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-01-012021-03-310000037785us-gaap:CommonStockMember2021-03-310000037785us-gaap:AdditionalPaidInCapitalMember2021-03-310000037785us-gaap:RetainedEarningsMember2021-03-310000037785us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-03-310000037785us-gaap:TreasuryStockMember2021-03-310000037785us-gaap:NoncontrollingInterestMember2021-03-3100000377852021-03-310000037785us-gaap:RetainedEarningsMember2021-04-012021-06-300000037785us-gaap:NoncontrollingInterestMember2021-04-012021-06-3000000377852021-04-012021-06-300000037785us-gaap:AdditionalPaidInCapitalMember2021-04-012021-06-300000037785us-gaap:TreasuryStockMember2021-04-012021-06-300000037785us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-04-012021-06-300000037785us-gaap:CommonStockMember2021-06-300000037785us-gaap:AdditionalPaidInCapitalMember2021-06-300000037785us-gaap:RetainedEarningsMember2021-06-300000037785us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-06-300000037785us-gaap:TreasuryStockMember2021-06-300000037785us-gaap:NoncontrollingInterestMember2021-06-3000000377852021-06-300000037785us-gaap:RetainedEarningsMember2021-07-012021-09-300000037785us-gaap:NoncontrollingInterestMember2021-07-012021-09-300000037785us-gaap:AdditionalPaidInCapitalMember2021-07-012021-09-300000037785us-gaap:TreasuryStockMember2021-07-012021-09-300000037785us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-07-012021-09-300000037785us-gaap:CommonStockMember2021-09-300000037785us-gaap:AdditionalPaidInCapitalMember2021-09-300000037785us-gaap:RetainedEarningsMember2021-09-300000037785us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-09-300000037785us-gaap:TreasuryStockMember2021-09-300000037785us-gaap:NoncontrollingInterestMember2021-09-300000037785us-gaap:CommonStockMember2019-12-310000037785us-gaap:AdditionalPaidInCapitalMember2019-12-310000037785us-gaap:RetainedEarningsMember2019-12-310000037785us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-12-310000037785us-gaap:TreasuryStockMember2019-12-310000037785us-gaap:NoncontrollingInterestMember2019-12-310000037785us-gaap:RetainedEarningsMember2020-01-012020-03-3100000377852020-01-012020-03-310000037785us-gaap:AdditionalPaidInCapitalMember2020-01-012020-03-310000037785us-gaap:TreasuryStockMember2020-01-012020-03-310000037785us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-01-012020-03-310000037785us-gaap:NoncontrollingInterestMember2020-01-012020-03-310000037785us-gaap:CommonStockMember2020-03-310000037785us-gaap:AdditionalPaidInCapitalMember2020-03-310000037785us-gaap:RetainedEarningsMember2020-03-310000037785us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-03-310000037785us-gaap:TreasuryStockMember2020-03-310000037785us-gaap:NoncontrollingInterestMember2020-03-3100000377852020-03-310000037785us-gaap:RetainedEarningsMember2020-04-012020-06-300000037785us-gaap:NoncontrollingInterestMember2020-04-012020-06-3000000377852020-04-012020-06-300000037785us-gaap:AdditionalPaidInCapitalMember2020-04-012020-06-300000037785us-gaap:TreasuryStockMember2020-04-012020-06-300000037785us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-04-012020-06-300000037785us-gaap:CommonStockMember2020-06-300000037785us-gaap:AdditionalPaidInCapitalMember2020-06-300000037785us-gaap:RetainedEarningsMember2020-06-300000037785us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-06-300000037785us-gaap:TreasuryStockMember2020-06-300000037785us-gaap:NoncontrollingInterestMember2020-06-3000000377852020-06-300000037785us-gaap:RetainedEarningsMember2020-07-012020-09-300000037785us-gaap:NoncontrollingInterestMember2020-07-012020-09-300000037785us-gaap:AdditionalPaidInCapitalMember2020-07-012020-09-300000037785us-gaap:TreasuryStockMember2020-07-012020-09-300000037785us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-07-012020-09-300000037785us-gaap:CommonStockMember2020-09-300000037785us-gaap:AdditionalPaidInCapitalMember2020-09-300000037785us-gaap:RetainedEarningsMember2020-09-300000037785us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-09-300000037785us-gaap:TreasuryStockMember2020-09-300000037785us-gaap:NoncontrollingInterestMember2020-09-30xbrli:pure0000037785fmc:PTBinaGunaKimiaMember2020-07-3100000377852020-07-012020-07-310000037785fmc:PTBinaGunaKimiaMember2020-08-01fmc:product0000037785srt:NorthAmericaMember2021-07-012021-09-300000037785srt:NorthAmericaMember2020-07-012020-09-300000037785srt:NorthAmericaMember2021-01-012021-09-300000037785srt:NorthAmericaMember2020-01-012020-09-300000037785srt:LatinAmericaMember2021-07-012021-09-300000037785srt:LatinAmericaMember2020-07-012020-09-300000037785srt:LatinAmericaMember2021-01-012021-09-300000037785srt:LatinAmericaMember2020-01-012020-09-300000037785us-gaap:EMEAMember2021-07-012021-09-300000037785us-gaap:EMEAMember2020-07-012020-09-300000037785us-gaap:EMEAMember2021-01-012021-09-300000037785us-gaap:EMEAMember2020-01-012020-09-300000037785srt:AsiaMember2021-07-012021-09-300000037785srt:AsiaMember2020-07-012020-09-300000037785srt:AsiaMember2021-01-012021-09-300000037785srt:AsiaMember2020-01-012020-09-300000037785fmc:InsecticidesMember2021-07-012021-09-300000037785fmc:InsecticidesMember2020-07-012020-09-300000037785fmc:InsecticidesMember2021-01-012021-09-300000037785fmc:InsecticidesMember2020-01-012020-09-300000037785fmc:HerbicidesMember2021-07-012021-09-300000037785fmc:HerbicidesMember2020-07-012020-09-300000037785fmc:HerbicidesMember2021-01-012021-09-300000037785fmc:HerbicidesMember2020-01-012020-09-300000037785fmc:FungicidesMember2021-07-012021-09-300000037785fmc:FungicidesMember2020-07-012020-09-300000037785fmc:FungicidesMember2021-01-012021-09-300000037785fmc:FungicidesMember2020-01-012020-09-300000037785fmc:PlantHealthMember2021-07-012021-09-300000037785fmc:PlantHealthMember2020-07-012020-09-300000037785fmc:PlantHealthMember2021-01-012021-09-300000037785fmc:PlantHealthMember2020-01-012020-09-300000037785us-gaap:ProductAndServiceOtherMember2021-07-012021-09-300000037785us-gaap:ProductAndServiceOtherMember2020-07-012020-09-300000037785us-gaap:ProductAndServiceOtherMember2021-01-012021-09-300000037785us-gaap:ProductAndServiceOtherMember2020-01-012020-09-300000037785srt:MinimumMember2021-01-012021-09-300000037785srt:MaximumMember2021-01-012021-09-300000037785srt:MinimumMember2021-09-300000037785srt:MaximumMember2021-09-300000037785us-gaap:RealEstateMembersrt:MinimumMember2021-09-300000037785us-gaap:RealEstateMembersrt:MaximumMember2021-09-300000037785fmc:NonRealEstatePropertiesMembersrt:MinimumMember2021-09-300000037785fmc:NonRealEstatePropertiesMembersrt:MaximumMember2021-09-300000037785fmc:E.I.duPontdeNemoursandCompanyMember2017-11-012017-11-010000037785fmc:E.I.duPontdeNemoursandCompanyMember2021-07-012021-09-300000037785fmc:E.I.duPontdeNemoursandCompanyMember2021-01-012021-09-300000037785fmc:E.I.duPontdeNemoursandCompanyMember2020-07-012020-09-300000037785fmc:E.I.duPontdeNemoursandCompanyMember2020-01-012020-09-300000037785fmc:E.I.duPontdeNemoursandCompanyMemberfmc:LegalandProfessionalFeesMember2021-07-012021-09-300000037785fmc:E.I.duPontdeNemoursandCompanyMemberfmc:LegalandProfessionalFeesMember2020-07-012020-09-300000037785fmc:E.I.duPontdeNemoursandCompanyMemberfmc:LegalandProfessionalFeesMember2021-01-012021-09-300000037785fmc:E.I.duPontdeNemoursandCompanyMemberfmc:LegalandProfessionalFeesMember2020-01-012020-09-300000037785fmc:DuPontCropRestructuringMember2021-07-012021-09-300000037785fmc:DuPontCropRestructuringMember2020-07-012020-09-300000037785fmc:DuPontCropRestructuringMember2021-01-012021-09-300000037785fmc:DuPontCropRestructuringMember2020-01-012020-09-300000037785fmc:E.I.duPontdeNemoursandCompanyMembersrt:MinimumMember2021-01-012021-03-310000037785fmc:E.I.duPontdeNemoursandCompanyMembersrt:MaximumMember2021-01-012021-09-300000037785us-gaap:CustomerRelationshipsMember2021-09-300000037785us-gaap:CustomerRelationshipsMember2020-12-310000037785us-gaap:PatentsMember2021-09-300000037785us-gaap:PatentsMember2020-12-310000037785fmc:BrandsMember2021-09-300000037785fmc:BrandsMember2020-12-310000037785us-gaap:DevelopedTechnologyRightsMember2021-09-300000037785us-gaap:DevelopedTechnologyRightsMember2020-12-310000037785us-gaap:OtherIntangibleAssetsMember2021-09-300000037785us-gaap:OtherIntangibleAssetsMember2020-12-310000037785fmc:CropProtectionBrandsMember2021-09-300000037785fmc:CropProtectionBrandsMember2020-12-310000037785fmc:BrandsMember2021-09-300000037785fmc:BrandsMember2020-12-3100000377852020-01-012020-12-310000037785fmc:RegionalRealignmentMember2021-07-012021-09-300000037785fmc:OtherRestructuringActivitiesMember2021-07-012021-09-300000037785fmc:OtherRestructuringActivitiesMember2020-07-012020-09-300000037785fmc:RegionalRealignmentMember2021-01-012021-09-300000037785fmc:OtherRestructuringActivitiesMember2021-01-012021-09-300000037785fmc:OtherRestructuringActivitiesMember2020-01-012020-09-300000037785fmc:DuPontCropRestructuringMember2020-12-310000037785fmc:DuPontCropRestructuringMember2021-09-300000037785fmc:RegionalRealignmentMember2020-12-310000037785fmc:RegionalRealignmentMember2021-09-300000037785fmc:OtherRestructuringActivitiesMember2020-12-310000037785fmc:OtherRestructuringActivitiesMember2021-09-300000037785fmc:IndirectTaxMattersMember2021-07-012021-09-300000037785fmc:IndirectTaxMattersMember2021-01-012021-09-300000037785fmc:ShorttermForeignDebtMember2021-09-300000037785fmc:ShorttermForeignDebtMember2020-12-310000037785us-gaap:CommercialPaperMember2021-09-300000037785us-gaap:CommercialPaperMember2020-12-310000037785us-gaap:LineOfCreditMemberus-gaap:RevolvingCreditFacilityMember2021-09-300000037785fmc:PollutionControlAndIndustrialRevenueBondsMember2021-09-300000037785fmc:PollutionControlAndIndustrialRevenueBondsMember2020-12-310000037785fmc:PollutionControlAndIndustrialRevenueBondsMembersrt:MinimumMember2021-09-300000037785us-gaap:SeniorNotesMember2021-09-300000037785us-gaap:SeniorNotesMember2020-12-310000037785us-gaap:SeniorNotesMembersrt:MinimumMember2021-09-300000037785us-gaap:SeniorNotesMembersrt:MaximumMember2021-09-300000037785fmc:TermLoanFacility2017Member2021-09-300000037785fmc:TermLoanFacility2017Member2020-12-310000037785us-gaap:LineOfCreditMemberus-gaap:RevolvingCreditFacilityMember2020-12-310000037785fmc:ForeignDebtMembersrt:MinimumMember2021-09-300000037785fmc:ForeignDebtMembersrt:MaximumMember2021-09-300000037785fmc:ForeignDebtMember2021-09-300000037785fmc:ForeignDebtMember2020-12-310000037785fmc:RevolvingCreditAgreementMember2021-09-300000037785fmc:RevolvingCreditFacilityAndTermLoanFacility2017Member2021-05-262021-05-260000037785fmc:RevolvingCreditFacilityAndTermLoanFacility2017Member2021-05-260000037785fmc:RevolvingCreditFacilityAndTermLoanFacility2017Member2021-01-012021-09-300000037785us-gaap:LineOfCreditMemberfmc:RevolvingCreditFacilityAndTermLoanFacility2017Member2021-01-012021-09-300000037785fmc:RevolvingCreditFacilityAndTermLoanFacility2017Member2021-01-012021-03-310000037785fmc:RevolvingCreditFacilityAndTermLoanFacility2017Member2021-04-012021-06-300000037785srt:ScenarioForecastMemberfmc:RevolvingCreditFacilityAndTermLoanFacility2017Memberus-gaap:SubsequentEventMember2021-10-012021-12-310000037785fmc:DiscontinuedworkerscompensationproductliabilityandotherpostretirementbenefitsMember2021-07-012021-09-300000037785fmc:DiscontinuedworkerscompensationproductliabilityandotherpostretirementbenefitsMember2020-07-012020-09-300000037785fmc:DiscontinuedworkerscompensationproductliabilityandotherpostretirementbenefitsMember2021-01-012021-09-300000037785fmc:DiscontinuedworkerscompensationproductliabilityandotherpostretirementbenefitsMember2020-01-012020-09-300000037785fmc:DiscontinuedEnvironmentalLiabilitiesMember2021-07-012021-09-300000037785fmc:DiscontinuedEnvironmentalLiabilitiesMember2020-07-012020-09-300000037785fmc:DiscontinuedEnvironmentalLiabilitiesMember2021-01-012021-09-300000037785fmc:DiscontinuedEnvironmentalLiabilitiesMember2020-01-012020-09-300000037785fmc:DiscontinuedLegalExpensesMember2021-07-012021-09-300000037785fmc:DiscontinuedLegalExpensesMember2020-07-012020-09-300000037785fmc:DiscontinuedLegalExpensesMember2021-01-012021-09-300000037785fmc:DiscontinuedLegalExpensesMember2020-01-012020-09-300000037785fmc:FMCLithiumMember2021-07-012021-09-300000037785fmc:FMCLithiumMember2021-01-012021-09-300000037785fmc:FMCLithiumMember2020-07-012020-09-300000037785fmc:FMCLithiumMember2020-01-012020-09-300000037785us-gaap:DiscontinuedOperationsDisposedOfBySaleMemberfmc:RichmondCaliforniaLandSaleMember2021-01-012021-09-300000037785fmc:GrossMember2020-12-310000037785fmc:RecoveriesMember2020-12-310000037785fmc:NetMember2020-12-310000037785fmc:GrossMember2021-01-012021-09-300000037785fmc:RecoveriesMember2021-01-012021-09-300000037785fmc:NetMember2021-01-012021-09-300000037785fmc:GrossMember2021-09-300000037785fmc:RecoveriesMember2021-09-300000037785fmc:NetMember2021-09-300000037785fmc:OtherAssetsIncludingLongtermReceivablesNetMember2020-12-310000037785fmc:OtherAssetsIncludingLongtermReceivablesNetMember2021-01-012021-09-300000037785fmc:OtherAssetsIncludingLongtermReceivablesNetMember2021-09-300000037785us-gaap:OtherLiabilitiesMember2021-07-012021-09-300000037785us-gaap:OtherLiabilitiesMember2020-07-012020-09-300000037785us-gaap:OtherLiabilitiesMember2021-01-012021-09-300000037785us-gaap:OtherLiabilitiesMember2020-01-012020-09-300000037785us-gaap:OtherAssetsMember2021-07-012021-09-300000037785us-gaap:OtherAssetsMember2020-07-012020-09-300000037785us-gaap:OtherAssetsMember2021-01-012021-09-300000037785us-gaap:OtherAssetsMember2020-01-012020-09-300000037785us-gaap:SegmentContinuingOperationsMember2021-07-012021-09-300000037785us-gaap:SegmentContinuingOperationsMember2020-07-012020-09-300000037785us-gaap:SegmentContinuingOperationsMember2021-01-012021-09-300000037785us-gaap:SegmentContinuingOperationsMember2020-01-012020-09-300000037785us-gaap:SegmentDiscontinuedOperationsMember2021-07-012021-09-300000037785us-gaap:SegmentDiscontinuedOperationsMember2020-07-012020-09-300000037785us-gaap:SegmentDiscontinuedOperationsMember2021-01-012021-09-300000037785us-gaap:SegmentDiscontinuedOperationsMember2020-01-012020-09-300000037785fmc:PocatelloMember2021-04-012021-06-300000037785fmc:PocatelloMember2021-04-012021-04-300000037785fmc:PocatelloMember2020-01-012020-12-310000037785fmc:PocatelloMember2021-01-012021-09-300000037785fmc:PocatelloMember2021-01-012021-06-300000037785fmc:PocatelloMember2021-06-300000037785us-gaap:AccumulatedTranslationAdjustmentMember2020-12-310000037785us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2020-12-310000037785us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2020-12-310000037785us-gaap:AccumulatedTranslationAdjustmentMember2021-01-012021-09-300000037785us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2021-01-012021-09-300000037785us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2021-01-012021-09-300000037785us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-01-012021-09-300000037785us-gaap:AccumulatedTranslationAdjustmentMember2021-09-300000037785us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2021-09-300000037785us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2021-09-300000037785us-gaap:AccumulatedTranslationAdjustmentMember2019-12-310000037785us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2019-12-310000037785us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2019-12-310000037785us-gaap:AccumulatedTranslationAdjustmentMember2020-01-012020-09-300000037785us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2020-01-012020-09-300000037785us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2020-01-012020-09-300000037785us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-01-012020-09-300000037785us-gaap:AccumulatedTranslationAdjustmentMember2020-09-300000037785us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2020-09-300000037785us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2020-09-300000037785us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMemberus-gaap:ForeignExchangeContractMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2021-07-012021-09-300000037785us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMemberus-gaap:ForeignExchangeContractMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2020-07-012020-09-300000037785us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMemberus-gaap:ForeignExchangeContractMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2021-01-012021-09-300000037785us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMemberus-gaap:ForeignExchangeContractMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2020-01-012020-09-300000037785us-gaap:InterestRateSwapMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2021-07-012021-09-300000037785us-gaap:InterestRateSwapMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2020-07-012020-09-300000037785us-gaap:InterestRateSwapMemberus-gaap:AccumulatedGainLossNetCashFlowHedgeParentMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2021-01-012021-09-300000037785us-gaap:InterestRateSwapMemberus-gaap:AccumulatedGainLossNetCashFlowHedgeParentMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2020-01-012020-09-300000037785us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2021-07-012021-09-300000037785us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2020-07-012020-09-300000037785us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2021-01-012021-09-300000037785us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2020-01-012020-09-300000037785us-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetPriorServiceCostCreditMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2021-07-012021-09-300000037785us-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetPriorServiceCostCreditMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2020-07-012020-09-300000037785us-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetPriorServiceCostCreditMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2021-01-012021-09-300000037785us-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetPriorServiceCostCreditMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2020-01-012020-09-300000037785us-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetUnamortizedGainLossMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2021-07-012021-09-300000037785us-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetUnamortizedGainLossMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2020-07-012020-09-300000037785us-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetUnamortizedGainLossMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2021-01-012021-09-300000037785us-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetUnamortizedGainLossMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2020-01-012020-09-300000037785us-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetTransitionAssetObligationMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2021-07-012021-09-300000037785us-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetTransitionAssetObligationMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2020-07-012020-09-300000037785us-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetTransitionAssetObligationMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2021-01-012021-09-300000037785us-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetTransitionAssetObligationMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2020-01-012020-09-300000037785us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2021-07-012021-09-300000037785us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2020-07-012020-09-300000037785us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2021-01-012021-09-300000037785us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2020-01-012020-09-300000037785us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2021-07-012021-09-300000037785us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2020-07-012020-09-300000037785us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2021-01-012021-09-300000037785us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2020-01-012020-09-300000037785us-gaap:SubsequentEventMember2021-10-212021-10-210000037785us-gaap:PensionPlansDefinedBenefitMember2021-07-012021-09-300000037785us-gaap:PensionPlansDefinedBenefitMember2020-07-012020-09-300000037785us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2021-07-012021-09-300000037785us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2020-07-012020-09-300000037785us-gaap:PensionPlansDefinedBenefitMember2021-01-012021-09-300000037785us-gaap:PensionPlansDefinedBenefitMember2020-01-012020-09-300000037785us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2021-01-012021-09-300000037785us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2020-01-012020-09-300000037785us-gaap:CashFlowHedgingMemberus-gaap:ForeignExchangeContractMemberus-gaap:DesignatedAsHedgingInstrumentMember2021-09-300000037785us-gaap:ForeignExchangeContractMemberus-gaap:DesignatedAsHedgingInstrumentMember2021-09-300000037785us-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2021-09-300000037785us-gaap:CashFlowHedgingMemberus-gaap:InterestRateSwapMemberus-gaap:DesignatedAsHedgingInstrumentMember2021-09-300000037785us-gaap:CashFlowHedgingMemberus-gaap:InterestRateSwapMemberus-gaap:DesignatedAsHedgingInstrumentMember2019-09-202019-09-20utr:MMBTU0000037785us-gaap:EnergyRelatedDerivativeMemberus-gaap:DesignatedAsHedgingInstrumentMember2021-09-300000037785fmc:ForeignCurrencyAndEnergyContractsMemberus-gaap:DesignatedAsHedgingInstrumentMember2021-09-300000037785us-gaap:NondesignatedMemberus-gaap:ForeignExchangeContractMember2021-09-300000037785us-gaap:ForeignExchangeContractMember2021-09-300000037785us-gaap:InterestRateSwapMemberus-gaap:DesignatedAsHedgingInstrumentMember2021-09-300000037785us-gaap:InterestRateSwapMemberus-gaap:NondesignatedMember2021-09-300000037785us-gaap:InterestRateSwapMember2021-09-300000037785us-gaap:DesignatedAsHedgingInstrumentMember2021-09-300000037785us-gaap:NondesignatedMember2021-09-300000037785us-gaap:ForeignExchangeContractMemberus-gaap:DesignatedAsHedgingInstrumentMember2020-12-310000037785us-gaap:NondesignatedMemberus-gaap:ForeignExchangeContractMember2020-12-310000037785us-gaap:ForeignExchangeContractMember2020-12-310000037785us-gaap:InterestRateSwapMemberus-gaap:DesignatedAsHedgingInstrumentMember2020-12-310000037785us-gaap:InterestRateSwapMemberus-gaap:NondesignatedMember2020-12-310000037785us-gaap:InterestRateSwapMember2020-12-310000037785us-gaap:DesignatedAsHedgingInstrumentMember2020-12-310000037785us-gaap:NondesignatedMember2020-12-310000037785us-gaap:ForeignExchangeContractMemberus-gaap:DesignatedAsHedgingInstrumentMember2021-07-012021-09-300000037785us-gaap:ForeignExchangeContractMemberus-gaap:DesignatedAsHedgingInstrumentMember2020-07-012020-09-300000037785us-gaap:InterestRateSwapMemberus-gaap:DesignatedAsHedgingInstrumentMember2021-07-012021-09-300000037785us-gaap:InterestRateSwapMemberus-gaap:DesignatedAsHedgingInstrumentMember2020-07-012020-09-300000037785us-gaap:DesignatedAsHedgingInstrumentMember2021-07-012021-09-300000037785us-gaap:DesignatedAsHedgingInstrumentMember2020-07-012020-09-300000037785us-gaap:ForeignExchangeContractMemberus-gaap:DesignatedAsHedgingInstrumentMember2021-01-012021-09-300000037785us-gaap:ForeignExchangeContractMemberus-gaap:DesignatedAsHedgingInstrumentMember2020-01-012020-09-300000037785us-gaap:InterestRateSwapMemberus-gaap:DesignatedAsHedgingInstrumentMember2021-01-012021-09-300000037785us-gaap:InterestRateSwapMemberus-gaap:DesignatedAsHedgingInstrumentMember2020-01-012020-09-300000037785us-gaap:DesignatedAsHedgingInstrumentMember2021-01-012021-09-300000037785us-gaap:DesignatedAsHedgingInstrumentMember2020-01-012020-09-300000037785fmc:CostOfSalesAndServicesMemberus-gaap:NondesignatedMemberus-gaap:ForeignExchangeContractMember2021-07-012021-09-300000037785fmc:CostOfSalesAndServicesMemberus-gaap:NondesignatedMemberus-gaap:ForeignExchangeContractMember2020-07-012020-09-300000037785fmc:CostOfSalesAndServicesMemberus-gaap:NondesignatedMemberus-gaap:ForeignExchangeContractMember2021-01-012021-09-300000037785fmc:CostOfSalesAndServicesMemberus-gaap:NondesignatedMemberus-gaap:ForeignExchangeContractMember2020-01-012020-09-300000037785us-gaap:NondesignatedMember2021-07-012021-09-300000037785us-gaap:NondesignatedMember2020-07-012020-09-300000037785us-gaap:NondesignatedMember2021-01-012021-09-300000037785us-gaap:NondesignatedMember2020-01-012020-09-300000037785us-gaap:FairValueMeasurementsRecurringMemberus-gaap:ForeignExchangeContractMember2021-09-300000037785us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ForeignExchangeContractMember2021-09-300000037785us-gaap:FairValueMeasurementsRecurringMemberus-gaap:ForeignExchangeContractMemberus-gaap:FairValueInputsLevel2Member2021-09-300000037785us-gaap:FairValueMeasurementsRecurringMemberus-gaap:ForeignExchangeContractMemberus-gaap:FairValueInputsLevel3Member2021-09-300000037785us-gaap:InterestRateSwapMemberus-gaap:FairValueMeasurementsRecurringMember2021-09-300000037785us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:InterestRateSwapMember2021-09-300000037785us-gaap:FairValueMeasurementsRecurringMemberus-gaap:InterestRateSwapMemberus-gaap:FairValueInputsLevel2Member2021-09-300000037785us-gaap:FairValueMeasurementsRecurringMemberus-gaap:InterestRateSwapMemberus-gaap:FairValueInputsLevel3Member2021-09-300000037785us-gaap:FairValueMeasurementsRecurringMember2021-09-300000037785us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2021-09-300000037785us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2021-09-300000037785us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2021-09-300000037785us-gaap:FairValueMeasurementsRecurringMemberus-gaap:ForeignExchangeContractMember2020-12-310000037785us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ForeignExchangeContractMember2020-12-310000037785us-gaap:FairValueMeasurementsRecurringMemberus-gaap:ForeignExchangeContractMemberus-gaap:FairValueInputsLevel2Member2020-12-310000037785us-gaap:FairValueMeasurementsRecurringMemberus-gaap:ForeignExchangeContractMemberus-gaap:FairValueInputsLevel3Member2020-12-310000037785us-gaap:InterestRateSwapMemberus-gaap:FairValueMeasurementsRecurringMember2020-12-310000037785us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:InterestRateSwapMember2020-12-310000037785us-gaap:FairValueMeasurementsRecurringMemberus-gaap:InterestRateSwapMemberus-gaap:FairValueInputsLevel2Member2020-12-310000037785us-gaap:FairValueMeasurementsRecurringMemberus-gaap:InterestRateSwapMemberus-gaap:FairValueInputsLevel3Member2020-12-310000037785us-gaap:FairValueMeasurementsRecurringMember2020-12-310000037785us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2020-12-310000037785us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2020-12-310000037785us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2020-12-310000037785us-gaap:FinancialGuaranteeMember2021-09-300000037785us-gaap:GuaranteeOfIndebtednessOfOthersMember2021-09-300000037785us-gaap:GuaranteeOfIndebtednessOfOthersMember2021-01-012021-09-300000037785fmc:IndirectTaxMattersMember2021-09-3000000377852020-10-282020-10-28

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_______________________________________________________________________

 FORM 10-Q
_______________________________________________________________________
Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
For the quarterly period ended September 30, 2021
or
Transition Report Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
For the transition period from _______ to _______
Commission File Number 1-2376
__________________________________________________________________________
FMC CORPORATION
(Exact name of registrant as specified in its charter)
__________________________________________________________________________ 
Delaware 94-0479804
(State or other jurisdiction of
incorporation)
 (I.R.S. Employer
Identification No.)
2929 Walnut StreetPhiladelphiaPennsylvania19104
(Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code: 215-299-6000
__________________________________________________________________________

Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading SymbolName of each exchange on which registered
Common Stock, par value $0.10 per shareFMCNew York Stock Exchange

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes      No  
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).    Yes      No  
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.
Large accelerated filer   Accelerated filer 
Non-accelerated filer   Smaller reporting company 
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act) Yes      No  

As of September 30, 2021, there were 126,751,495 of the registrant's common shares outstanding.



FMC CORPORATION
INDEX
 
 Page
No.

2


PART I - FINANCIAL INFORMATION
 
ITEM 1.    FINANCIAL STATEMENTS

FMC CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (LOSS)
 
Three Months Ended September 30,Nine Months Ended September 30,
2021202020212020
(in Millions, Except Per Share Data)(unaudited)(unaudited)
Revenue$1,194.0 $1,084.6 $3,631.6 $3,489.9 
Costs and Expenses
Costs of sales and services681.2 618.2 2,074.6 1,939.3 
Gross margin$512.8 $466.4 $1,557.0 $1,550.6 
Selling, general and administrative expenses183.5 187.7 519.0 548.1 
Research and development expenses79.5 71.7 219.4 203.3 
Restructuring and other charges (income)32.8 11.0 52.3 43.9 
Total costs and expenses$977.0 $888.6 $2,865.3 $2,734.6 
Income from continuing operations before non-operating pension and postretirement charges (income), interest expense, net and income taxes$217.0 $196.0 $766.3 $755.3 
Non-operating pension and postretirement charges (income)5.1 11.6 14.7 16.0 
Interest expense, net33.1 35.5 98.1 117.0 
Income (loss) from continuing operations before income taxes$178.8 $148.9 $653.5 $622.3 
Provision (benefit) for income taxes8.7 18.4 74.3 82.3 
Income (loss) from continuing operations$170.1 $130.5 $579.2 $540.0 
Discontinued operations, net of income taxes(9.7)(18.4)(32.4)(36.7)
Net income (loss)$160.4 $112.1 $546.8 $503.3 
Less: Net income (loss) attributable to noncontrolling interests2.5 0.7 3.4 1.3 
Net income (loss) attributable to FMC stockholders$157.9 $111.4 $543.4 $502.0 
Amounts attributable to FMC stockholders:
Continuing operations, net of income taxes$167.6 $129.8 $575.8 $538.7 
Discontinued operations, net of income taxes(9.7)(18.4)(32.4)(36.7)
Net income (loss) attributable to FMC stockholders$157.9 $111.4 $543.4 $502.0 
Basic earnings (loss) per common share attributable to FMC stockholders:
Continuing operations$1.30 $1.00 $4.46 $4.14 
Discontinued operations(0.08)(0.14)(0.25)(0.28)
Net income (loss) attributable to FMC stockholders$1.22 $0.86 $4.21 $3.86 
Diluted earnings (loss) per common share attributable to FMC stockholders:
Continuing operations$1.30 $0.99 $4.44 $4.12 
Discontinued operations(0.08)(0.14)(0.25)(0.28)
Net income (loss) attributable to FMC stockholders$1.22 $0.85 $4.19 $3.84 

The accompanying notes are an integral part of these condensed consolidated financial statements.
3


FMC CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
Three Months Ended September 30,Nine Months Ended September 30,
2021202020212020
(in Millions)(unaudited)(unaudited)
Net income (loss)$160.4 $112.1 $546.8 $503.3 
Other comprehensive income (loss), net of tax:
Foreign currency adjustments:
Foreign currency translation gain (loss) arising during the period$(26.8)$41.7 $(61.3)$27.8 
Total foreign currency translation adjustments (1)
$(26.8)$41.7 $(61.3)$27.8 
Derivative instruments:
Unrealized hedging gains (losses) and other, net of tax expense (benefit) of $0.5 and $2.5 for the three and nine months ended September 30, 2021 and $(3.9) and $3.0 for the three and nine months ended September 30, 2020, respectively.
$41.6 $3.9 $34.1 $29.3 
Reclassification of deferred hedging (gains) losses and other, included in net income, net of tax (expense) benefit of $0.6 and $3.6 for the three and nine months ended September 30, 2021 and $3.4 and $(0.5) for the three and nine months ended September 30, 2020, respectively (2)
0.6 3.3 11.8 (15.4)
Total derivative instruments, net of tax expense (benefit) of $1.1 and $6.1 for the three and nine months ended September 30, 2021 and $(0.5) and $2.5 for the three and nine months ended September 30, 2020, respectively
$42.2 $7.2 $45.9 $13.9 
Pension and other postretirement benefits:
Unrealized actuarial gains (losses) and prior service (costs) credits, net of tax expense (benefit) of zero and zero for the three and nine months ended September 30, 2021 and $(0.1) and zero for the three and nine months ended September 30, 2020, respectively
$0.1 $0.2 $ $ 
Reclassification of net actuarial and other (gain) loss and amortization of prior service costs, included in net income, net of tax (expense) benefit of $1.2 and $3.5 for the three and nine months ended September 30, 2021 and $2.3 and $3.2 for the three and nine months ended September 30, 2020, respectively (2)
4.5 8.8 13.2 12.0 
Total pension and other postretirement benefits, net of tax expense (benefit) of $1.2 and $3.5 for the three and nine months ended September 30, 2021 and $2.2 and $3.2 for the three and nine months ended September 30, 2020, respectively
$4.6 $9.0 $13.2 $12.0 
Other comprehensive income (loss), net of tax$20.0 $57.9 $(2.2)$53.7 
Comprehensive income (loss)$180.4 $170.0 $544.6 $557.0 
Less: Comprehensive income (loss) attributable to the noncontrolling interest2.2 1.3 3.2 0.9 
Comprehensive income (loss) attributable to FMC stockholders$178.2 $168.7 $541.4 $556.1 
____________________ 
(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 in the condensed consolidated statements of income (loss) see Note 15.


The accompanying notes are an integral part of these condensed consolidated financial statements.
4


FMC CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS
(in Millions, Except Share and Par Value Data)September 30, 2021December 31, 2020
ASSETS(unaudited)
Current assets
Cash and cash equivalents$341.0 $568.9 
Trade receivables, net of allowance of $32.9 in 2021 and $27.9 in 2020
2,503.5 2,330.3 
Inventories1,450.5 1,095.6 
Prepaid and other current assets433.2 380.8 
Total current assets$4,728.2 $4,375.6 
Investments8.6 3.1 
Property, plant and equipment, net782.2 771.7 
Goodwill1,464.3 1,468.9 
Other intangibles, net2,546.2 2,625.2 
Other assets including long-term receivables, net667.3 712.3 
Deferred income taxes213.4 229.6 
Total assets$10,410.2 $10,186.4 
LIABILITIES AND EQUITY
Current liabilities
Short-term debt and current portion of long-term debt$762.0 $338.3 
Accounts payable, trade and other1,101.4 946.7 
Advance payments from customers3.2 347.1 
Accrued and other liabilities615.1 674.7 
Accrued customer rebates678.4 295.2 
Guarantees of vendor financing155.1 140.6 
Accrued pension and other postretirement benefits, current4.2 4.2 
Income taxes108.2 82.2 
Total current liabilities$3,427.6 $2,829.0 
Long-term debt, less current portion2,631.7 2,929.5 
Accrued pension and other postretirement benefits, long-term44.2 46.4 
Environmental liabilities, continuing and discontinued402.0 443.5 
Deferred income taxes345.3 350.0 
Other long-term liabilities502.4 603.8 
Commitments and contingent liabilities (Note 19)
Equity
Preferred stock, no par value, authorized 5,000,000 shares; no shares issued in 2021 or 2020
$ $ 
Common stock, $0.10 par value, authorized 260,000,000 shares; 185,983,792 issued shares in 2021 and 2020
18.6 18.6 
Capital in excess of par value of common stock874.6 860.2 
Retained earnings4,864.9 4,506.4 
Accumulated other comprehensive income (loss)(284.2)(282.2)
Treasury stock, common, at cost - 2021: 59,232,297 shares, 2020: 56,630,209 shares
(2,442.5)(2,141.2)
Total FMC stockholders’ equity$3,031.4 $2,961.8 
Noncontrolling interests25.6 22.4 
Total equity$3,057.0 $2,984.2 
Total liabilities and equity$10,410.2 $10,186.4 

The accompanying notes are an integral part of these condensed consolidated financial statements.
5


FMC CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
 
Nine Months Ended September 30,
20212020
 (in Millions)
(unaudited)
Cash provided (required) by operating activities of continuing operations:
Net income (loss)$546.8 $503.3 
Discontinued operations, net of income taxes32.4 36.7 
Income (loss) from continuing operations$579.2 $540.0 
Adjustments from income from continuing operations to cash provided (required) by operating activities of continuing operations:
Depreciation and amortization$128.5 $120.7 
Restructuring and other charges (income)52.3 43.9 
Deferred income taxes9.2 2.6 
Pension and other postretirement benefits18.4 19.7 
Share-based compensation13.5 15.2 
Changes in operating assets and liabilities, net of effect of acquisitions and divestitures:
Trade receivables, net(170.8)77.9 
Guarantees of vendor financing14.5 21.3 
Advance payments from customers(343.9)(487.4)
Accrued customer rebates378.4 247.1 
Inventories(371.2)(141.7)
Accounts payable, trade and other147.2 (142.8)
Income taxes(23.5)15.7 
Pension and other postretirement benefit contributions(2.9)(3.6)
Environmental spending, continuing, net of recoveries(51.2)6.9 
Restructuring and other spending (1)
(21.9)(11.6)
Transaction and integration costs(8.4)(53.3)
Change in other operating assets and liabilities, net (2)
(49.2)42.9 
Cash provided (required) by operating activities of continuing operations$298.2 $313.5 
Cash provided (required) by operating activities of discontinued operations:
Environmental spending, discontinued, net of recoveries$(38.1)$(43.6)
Other discontinued spending(15.8)(22.5)
Operating activities of discontinued operations, net of divestiture costs (0.2)
Cash provided (required) by operating activities of discontinued operations$(53.9)$(66.3)
____________________ 
(1)    The restructuring and other spending amount for the nine months ended September 30, 2021 and 2020 includes spending of $2.0 million and $3.1 million, respectively, related to the Furadan® asset retirement obligations.
(2)    Changes in all periods primarily represent timing of payments associated with all other operating assets and liabilities.



The accompanying notes are an integral part of these condensed consolidated financial statements.
(continued)
6


FMC CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (CONTINUED)
 
Nine Months Ended September 30,
20212020
 (in Millions)(unaudited)
Cash provided (required) by investing activities of continuing operations:
Capital expenditures$(76.4)$(35.2)
Investment in Enterprise Resource Planning system(12.7)(42.2)
Acquisitions, including cost and equity method, net
(4.6) 
Other investing activities(22.2)(23.1)
Cash provided (required) by investing activities of continuing operations$(115.9)$(100.5)
Cash provided (required) by investing activities of discontinued operations:
Proceeds from disposal of property, plant and equipment$16.8 $1.1 
Cash provided (required) by investing activities of discontinued operations$16.8 $1.1 
Cash provided (required) by financing activities of continuing operations:
Increase (decrease) in short-term debt$125.6 $(35.6)
Repayments of long-term debt(2.6) 
Financing fees(1.7)(3.5)
Proceeds from borrowings of long-term debt 17.2 
Acquisitions of noncontrolling interests (7.4)
Distributions to noncontrolling interests (1.3)
Issuances of common stock, net5.9 23.0 
Dividends paid (3)
(186.2)(171.3)
Repurchases of common stock under publicly announced program(300.0) 
Other repurchases of common stock(8.0)(7.5)
Cash provided (required) by financing activities of continuing operations$(367.0)$(186.4)
Effect of exchange rate changes on cash and cash equivalents(6.1)(3.4)
Increase (decrease) in cash and cash equivalents$(227.9)$(42.0)
Cash and cash equivalents, beginning of period$568.9 $339.1 
Cash and cash equivalents, end of period$341.0 $297.1 
____________________ 
(3)    See Note 15 regarding the quarterly cash dividend.

Supplemental disclosure of cash flow information: Cash paid for interest, net of capitalized interest was $85.0 million and $104.2 million, and income taxes paid, net of refunds were $87.2 million and $63.3 million for the nine months ended September 30, 2021 and 2020, respectively. Non-cash additions to property, plant and equipment and other assets were $14.0 million and $15.3 million for the nine months ended September 30, 2021 and 2020, respectively.

The accompanying notes are an integral part of these condensed consolidated financial statements.
7


FMC CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY
(UNAUDITED)
 FMC Stockholders’ Equity  
(in Millions, Except Per Share Data)
Common
Stock,
$0.10 Par
Value
Capital In Excess of ParRetained
Earnings
Accumulated Other Comprehensive Income (Loss)Treasury
Stock
Non-controlling
Interest
Total
Equity
Balance at December 31, 2020$18.6 $860.2 $4,506.4 $(282.2)$(2,141.2)$22.4 $2,984.2 
Net income (loss)— — 182.6 — — 0.6 183.2 
Stock compensation plans— 5.2 — — 4.4 — 9.6 
Shares for benefit plan trust— — — — (0.1)— (0.1)
Net pension and other benefit actuarial gains (losses) and prior service costs, net of income tax (1)
— — — 4.3 — — 4.3 
Net hedging gains (losses) and other, net of income tax (1)
— — — 44.6 — — 44.6 
Foreign currency translation adjustments (1)
— — — (49.5)— (0.3)(49.8)
Dividends ($0.48 per share)
— — (62.0)— — — (62.0)
Repurchases of common stock— — — (82.7)— (82.7)
Balance at March 31, 2021$18.6 $865.4 $4,627.0 $(282.8)$(2,219.6)$22.7 $3,031.3 
Net income (loss)— — 202.9 — — 0.3 203.2 
Stock compensation plans— 5.1 — — 0.5 — 5.6 
Shares for benefit plan trust— — — — 2.5 — 2.5 
Net pension and other benefit actuarial gains (losses) and prior service costs, net of income tax (1)
— — — 4.3 — — 4.3 
Net hedging gains (losses) and other, net of income tax (1)
— — — (40.9)— — (40.9)
Foreign currency translation adjustments (1)
— — — 14.9 — 0.4 15.3 
Dividends ($0.48 per share)
— — (62.0)— — — (62.0)
Repurchases of common stock— — — — (25.2)— (25.2)
Balance at June 30, 2021$18.6 $870.5 $4,767.9 $(304.5)$(2,241.8)$23.4 $3,134.1 
Net income— — 157.9 — — 2.5 160.4 
Stock compensation plans— 4.1 — — — — 4.1 
Shares for benefit plan trust— — — — (0.7)— (0.7)
Net pension and other benefit actuarial gains (losses) and prior service costs, net of income tax (1)
— — — 4.6 — — 4.6 
Net hedging gains (losses) and other, net of income tax (1)
— — — 42.2 — — 42.2 
Foreign currency translation adjustments (1)
— — — (26.5)— (0.3)(26.8)
Dividends ($0.48 per share)
— — (60.9)— — — (60.9)
Repurchases of common stock— — — — (200.0)— (200.0)
Balance at September 30, 2021$18.6 $874.6 $4,864.9 $(284.2)$(2,442.5)$25.6 $3,057.0 
____________________
(1)See condensed consolidated statements of comprehensive income (loss).
8


 FMC Stockholders’ Equity  
(in Millions, Except Per Share Data)
Common
Stock,
$0.10 Par
Value
Capital In Excess of ParRetained
Earnings
Accumulated Other Comprehensive Income (Loss)Treasury
Stock
Non-controlling
Interest
Total
Equity
Balance at December 31, 2019$18.6 $829.7 $4,188.8 $(412.0)$(2,092.8)$29.1 $2,561.4 
Net income (loss)— — 206.2 — — — 206.2 
Stock compensation plans— 10.5 — — 6.0 — 16.5 
Shares for benefit plan trust— — — — (0.4)— (0.4)
Net pension and other benefit actuarial gains (losses) and prior service costs, net of income tax (1)
— — — 1.6 — — 1.6 
Net hedging gains (losses) and other, net of income tax (1)
— — — 17.2 — — 17.2 
Foreign currency translation adjustments (1)
— — — (33.6)— (1.8)(35.4)
Dividends ($0.44 per share)
— — (57.1)— — — (57.1)
Repurchases of common stock— — — — (7.3)— (7.3)
Balance at March 31, 2020$18.6 $840.2 $4,337.9 $(426.8)$(2,094.5)$27.3 $2,702.7 
Net income (loss)— — 184.4 — — 0.6 185.0 
Stock compensation plans— 6.3 — — 1.9 — 8.2 
Net pension and other benefit actuarial gains (losses) and prior service costs, net of income tax (1)
— — — 1.4 — — 1.4 
Net hedging gains (losses) and other, net of income tax (1)
— — — (10.5)— — (10.5)
Foreign currency translation adjustments (1)
— — — 20.7 — 0.8 21.5 
Dividends ($0.44 per share)
— — (57.2)— — — (57.2)
Repurchases of common stock— — — — (0.2)— (0.2)
Balance at June 30, 2020$18.6 $846.5 $4,465.1 $(415.2)$(2,092.8)$28.7 $2,850.9 
Net income (loss)— — 111.4 — — 0.7