Segment Information (Tables)

12 Months Ended

Dec. 31, 2013

Segment Reporting Information by Segment



(in Millions)	Year Ended December 31,
(in Millions)	2013			2012			2011
Revenue
FMC Agricultural Solutions	$	2,145.7		$	1,763.8		$	1,464.5
FMC Health and Nutrition	762.0			680.8			654.3
FMC Minerals	970.0			966.2			917.5
Eliminations	(2.9		)	(0.9		)	—
Total	$	3,874.8		$	3,409.9		$	3,036.3
Income (loss) from continuing operations before income taxes
FMC Agricultural Solutions	$	539.0		$	454.0		$	349.8
FMC Health and Nutrition	169.5			161.6			159.4
FMC Minerals	128.3			171.4			175.7
Eliminations	—			(0.4		)	—
Segment operating profit	836.8			786.6			684.9
Corporate and other	(82.7		)	(78.6		)	(75.3		)
Operating profit before the items listed below	754.1			708.0			609.6
Restructuring and other (charges) income ⁽¹⁾	(47.9		)	(27.5		)	(6.3		)
Interest expense, net	(42.2		)	(40.7		)	(35.0		)
Non-operating pension and postretirement (charges) income ⁽²⁾	(38.1		)	(34.9		)	(14.5		)
Acquisition related charges⁽³⁾	(10.0		)	(7.2		)	(0.6		)
Provision for income taxes	(148.6		)	(134.5		)	(132.9		)
Discontinued operations, net of income taxes	(159.3		)	(27.5		)	(38.1		)
Net income attributable to noncontrolling interests	(14.1		)	(19.5		)	(16.3		)
Net income attributable to FMC stockholders	$	293.9		$	416.2		$	365.9

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(1)

See Note 7 for details of restructuring and other charges (income). Amounts for the years ended 2013, 2012 and 2011 relate to FMC Agricultural Solutions of $32.6 million, $8.5 million and $1.2 million; FMC Health and Nutrition of $1.0 million, $0.7 million and $1.5 million; FMC Minerals of $6.4 million, $13.0 million and $0.7 million; and Corporate of $7.9 million, $5.3 million and $2.9 million, respectively.

(2)

Our non-operating pension and postretirement costs are defined as those costs related to interest, expected return on plan assets, amortized actuarial gains and losses and the impacts of any plan curtailments or settlements. These costs are primarily related to changes in pension plan assets and liabilities which are tied to financial market performance and we consider these costs to be outside our operational performance. We exclude these non-operating pension and postretirement costs from our segments as we believe that removing them provides a better understanding of the underlying profitability of our businesses, provides increased transparency and clarity in the performance of our retirement plans and enhances period-over-period comparability. We continue to include the service cost and amortization of prior service cost in our operating segments noted above. We believe these elements reflect the current year operating costs to our businesses for the employment benefits provided to active employees.

(3)

Charges related to the expensing of the inventory fair value step-up resulting from the application of purchase accounting for acquisitions and certain professional fees associated with the completion of acquisitions. Charges for the year ended December 31, 2013, represented amortization of inventory fair value step-up of $5.2 million and certain professional fees of $4.8 million associated with the completion of our Epax acquisition within our FMC Health and Nutrition segment. The charges for 2012 and 2011 represent amortization of inventory fair value step-up related to a number of acquisitions completed since fourth quarter 2011. On the consolidated statements of income, the charges associated with inventory fair value step-up are included in “Costs of sales and services” and fees associated with concluding the acquisitions are included in "Selling, general and administrative expenses".

Net Sales to External Customer by Product Line Groups



(in Millions)	Year Ended December 31,
(in Millions)	2013		2012		2011
Net Sales
Alkali	$	747.0	$	733.2	$	692.7
Lithium	223.0		233.0		224.8
Total FMC Minerals Segment	$	970.0	$	966.2	$	917.5

Reconciliation of Assets from Segment to Consolidated



(in Millions)	December 31,
(in Millions)	2013		2012		2011
Operating capital employed ⁽¹⁾
FMC Agricultural Solutions	$	1,398.1	$	1,184.3	$	903.2
FMC Health and Nutrition	1,380.5		874.2		696.1
FMC Minerals	758.4		702.1		610.2
Elimination	—		—		(0.2		)
Total operating capital employed	3,537.0		2,760.6		2,209.3
Segment liabilities included in total operating capital employed	1,039.0		821.2		670.2
Assets of discontinued operations held for sale	198.3		336.6		307.6
Corporate items	460.9		455.5		556.4
Total assets	$	5,235.2	$	4,373.9	$	3,743.5
Segment assets ⁽²⁾
FMC Agricultural Solutions	$	2,190.7	$	1,793.7	$	1,382.8
FMC Health and Nutrition	1,508.2		958.1		765.1
FMC Minerals	877.1		830.0		731.9
Elimination	—		—		(0.3		)
Total segment assets	4,576.0		3,581.8		2,879.5
Assets of discontinued operations held for sale	198.3		336.6		307.6
Corporate items	460.9		455.5		556.4
Total assets	$	5,235.2	$	4,373.9	$	3,743.5

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(1)	We view operating capital employed, which consists of assets, net of liabilities, reported by our operations and excluding corporate items such as cash equivalents, debt, pension liabilities, income taxes and LIFO reserves, as our primary measure of segment capital.


(2)	Segment assets are assets recorded and reported by the segments and are equal to segment operating capital employed plus segment liabilities. See Note 1.

Reconciliation of Other Significant Reconciling Items from Segments to Consolidated



	Year Ended December 31,
(in Millions)	Capital Expenditures						Depreciation and Amortization						Research and Development Expense
(in Millions)	2013		2012		2011		2013		2012		2011		2013		2012		2011
FMC Agricultural Solutions	$	50.1	$	18.4	$	17.4	$	34.1	$	34.4	$	23.3	$	100.5	$	95.4	$	84.4
FMC Health and Nutrition	115.7		56.5		38.8		35.4		25.8		23.1		10.5		9.9		10.1
FMC Minerals	50.3		92.9		88.9		53.9		52.4		50.1		6.7		6.7		6.6
Corporate	5.8		9.5		11.7		3.8		3.3		3.1		—		—		—
Total	$	221.9	$	177.3	$	156.8	$	127.2	$	115.9	$	99.6	$	117.7	$	112.0	$	101.1

Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas

Geographic Segment Information



(in Millions)	Year Ended December 31,
(in Millions)	2013		2012		2011
Revenue from continuing operations (by location of customer):
North America ⁽¹⁾	$	1,285.1	$	1,107.6	$	1,009.4
Europe/Middle East/Africa	528.1		494.9		496.7
Latin America ⁽¹⁾	1,382.4		1,161.2		958.6
Asia Pacific	679.2		646.2		571.6
Total	$	3,874.8	$	3,409.9	$	3,036.3

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(1)	In 2013, countries with sales in excess of ten percent of consolidated revenue consisted of the U.S. and Brazil. Sales for the years ended December 2013, 2012 and 2011 for the U.S. totaled $1,244.8 million, $1,073.4 million and $975.2 million and for Brazil totaled $1,043.1 million, $845.4 million and $694.0 million, respectively.



(in Millions)	December 31,
(in Millions)	2013		2012
Long-lived assets ⁽¹⁾:
North America ⁽²⁾	$	950.0	$	861.9
Europe/Middle East/Africa ⁽²⁾	736.7		463.6
Latin America	168.2		141.8
Asia Pacific	343.9		245.9
Total	$	2,198.8	$	1,713.2

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(1)	Geographic segment long-lived assets exclude long-term deferred income taxes and assets of discontinued operations held for sale on the consolidated balance sheets.

(2)

The countries with long-lived assets in excess of ten percent of consolidated long-lived assets at December 31, 2013 and 2012 are the U.S. and Norway. Long lived assets at December 31, 2013 and 2012 for the U.S. totaled $948.0 million and $860.1 million and for Norway totaled $511.3 million and $245.8 million, respectively. Norway assets included goodwill of $273.1 million and $162.3 million at December 31, 2013 and 2012, respectively.

- Definition

Tabular disclosure of each significant reconciling item, other than profit (loss), revenues, or assets, in the reconciliation of totals of such items in reportable segments to the entity's corresponding consolidated amount.

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- Definition

Tabular disclosure of information concerning material long-lived assets (excluding financial instruments, customer relationships with financial institutions, mortgage and other servicing rights, deferred policy acquisition costs, and deferred taxes assets) located in identified geographic areas and/or the amount of revenue from external customers attributed to that country from which revenue is material. An entity may also provide subtotals of geographic information about groups of countries.

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- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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