Restructuring and Other Charges (Income)

The following table shows total restructuring and other charges included in the respective line items of the Consolidated Statements of Income:



	Year Ended December 31,
(in Millions)	2013		2012		2011
Restructuring Charges and Asset Disposals	$	9.6	$	17.7	$	2.3
Other Charges (Income), Net	38.3		9.8		4.0
Total Restructuring and Other Charges	$	47.9	$	27.5	$	6.3

RESTRUCTURING CHARGES AND ASSET DISPOSALS



	Restructuring Charges
(in Millions)	Severance and Employee Benefits (1)			Other Charges (Income) (2)			Asset Disposal Charges (3)		Total
Lithium Restructuring	$	2.8		$	4.4		$	1.9	$	9.1
Other Items	1.8			(1.7		)	0.4		0.5
Year ended December 31, 2013	$	4.6		$	2.7		$	2.3	$	9.6
Lithium Restructuring	—			—			13.3		13.3
Other Items	(0.3		)	0.7			4.0		4.4
Year ended December 31, 2012	$	(0.3	)	$	0.7		$	17.3	$	17.7
Other Items	0.7			0.4			1.2		2.3
Year ended December 31, 2011	$	0.7		$	0.4		$	1.2	$	2.3

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(1)	Represents severance and employee benefit charges. Income represents adjustments to previously recorded severance and employee benefits.


(2)	Primarily represents costs associated with accrued lease payments, contract terminations, and other miscellaneous exit costs. Other Income primarily represents favorable developments on previously recorded exit costs as well as recoveries associated with restructuring.


(3)	Primarily represents accelerated depreciation and impairment charges on plant and equipment, which were or are to be abandoned. Asset disposal charges also included the acceleration effect of re-estimating settlement dates and revised cost estimates associated with asset retirement obligations due to facility shutdowns, see Note 8.

The restructuring charges and asset disposals noted above were the result of the following:

FMC Minerals

Lithium Restructuring

In 2012, we committed to the abandonment of various fixed assets, primarily equipment, associated with a Potash project that we have decided not to complete. Potash, commonly used in fertilizers, is a manufactured by-product of our Lithium extraction process in Argentina. Given the changes in Potash market conditions, this project was no longer economically viable. We recorded a non-cash charge of $13.3 million associated with the abandonment of these assets.

Additionally, in 2013, we implemented a plan to restructure a portion of the operations. The objective of the restructuring was to better align our business and costs to macroeconomic and market realities. The restructuring decision resulted in workforce reductions at several of our Lithium facilities, primarily in North Carolina and Argentina. This restructuring is substantially complete.

Other Items

In addition to the restructurings described above, we have engaged in certain other restructuring activities, which have resulted in severance and asset disposal costs. We expect these restructuring activities to improve our global competitiveness through improved cost efficiencies.

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, which are discussed in Note 8.



(in Millions)	Balance at 12/31/11 (4)		Change in reserves (2)		Cash payments			Other (3)		Balance at 12/31/12 (4)		Change in reserves (2)			Cash payments			Other (3)			Balance at 12/31/13 (4)
Lithium Restructuring	$	—	$	—	$	—		$	—	$	—	$	7.2		$	(6.9	)	$	—		$	0.3
Other Workforce Related and Facility Shutdowns (1)	3.4		0.4		(0.9		)	0.2		3.1		0.1			(0.4		)	—			2.8
Restructuring activities related to discontinued operations (5)	9.0		10.0		(12.1		)	0.5		7.4		(0.6		)	(2.7		)	(1.1		)	3.0
Total	$	12.4	$	10.4	$	(13.0	)	$	0.7	$	10.5	$	6.7		$	(10.0	)	$	(1.1	)	$	6.1

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(1)	Primarily severance costs related to workforce reductions and facility shutdowns described in the “Other Items” sections above.


(2)	Primarily severance, exited lease, contract termination and other miscellaneous exit costs. The accelerated depreciation and impairment charges noted above impacted our property, plant and equipment balances and are not included in the above tables.


(3)	Primarily foreign currency translation adjustments and cash proceeds associated with recoveries.


(4)	Included in “Accrued and other liabilities” on the consolidated balance sheets.


(5)	Cash spending associated with restructuring activities of discontinued operations is reported within Payments of other discontinued reserves, net of recoveries on the consolidated statements of cash flows.

OTHER CHARGES (INCOME), NET



	Year Ended December 31,
(in Millions)	2013		2012		2011
Environmental charges, net	$	6.2	$	5.8	$	3.1
Other, net	32.1		4.0		0.9
Other Charges (Income), Net	$	38.3	$	9.8	$	4.0

Environmental charges, net

Environmental charges represent the net charges associated with environmental remediation at continuing operating sites, see Note 10 for additional details.

Other, net

During 2013 and 2012 our FMC Agricultural Solutions segment entered into several collaboration and license agreements with various third-party companies for the purpose of obtaining certain technology and intellectual property rights relating to new compounds still under development. Specifically in 2013 we entered into three such transactions totaling $30.6 million consisting of: exclusive license and supply arrangements for broad-spectrum crop protection products as well as an acquisition of certain intellectual property and other assets relating to biological products associated with our acquired assets of the Center for Agricultural and Environmental Biosolutions (CAEB). CAEB is based in Research Triangle Park, NC, and amounts acquired include CAEB’s robust library of microorganisms and a pipeline of biological products in various stages of development. The rights and technology obtained is referred to as in-process research and development and in accordance with GAAP, the amounts paid were expensed as incurred since they were acquired outside of a business combination. During 2012, our FMC Agricultural Solutions segment entered into one collaboration and license agreement for $4.4 million with a third-party company relating to a new fungicide compound still under development.