XML 59 R3.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Consolidated Statements of Comprehensive Income (USD $)
In Millions, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2014
Jun. 30, 2013
Net income $ 113.3 $ 121.2 $ 183.7 $ 256.2
Foreign currency translation adjustments (1) (3.5) [1] 1.1 [1] 46.4 [1],[2] (13.5) [1]
Unrealized hedging gains (losses) and other, net of tax of $1.1 and $2.4 for the three and six months ended 2014 and $(5.1) and $(1.5) for the three and six months ended 2013, respectively 2.0 (9.4) 4.5 (3.2)
Reclassification of deferred hedging (gains) losses and other, included in net income, net of tax of $0.6 and $1.0 for the three and six months ended 2014 and $(0.6) and $(1.0) for the three and six months ended 2013, respectively (3) 1.1 [3],[4] (1.4) [3],[4] 2.2 [3] (2.1) [3]
Total derivative instruments, net of tax of $1.7 and $3.4 for the three and six months ended 2014 and $(5.7) and $(2.5) for the three and six months ended 2013, respectively 3.1 (10.8) 6.7 [2] (5.3)
Unrealized actuarial gains (losses) and prior service (costs) credits, net of tax of zero for the three and six months ended 2014 and zero and $0.1 for the three and six months ended 2013, respectively (2) (0.6) [5] (0.5) [5] (0.1) [5] 0.1 [5]
Reclassification of net actuarial and other (gain) loss and amortization of prior service costs, included in net income, net of tax of $3.7 and $6.9 for the three and six months ended 2014 and $6.6 and $13.0 for the three and six months ended 2013, respectively (3) 6.7 [3],[4] 10.7 [3],[4] 12.7 [3] 21.5 [3]
Total pension and other postretirement benefits, net of tax of $3.7 and $6.9 for the three and six months ended 2014 and $6.6 and $13.1 for the three and six months end 2013, respectively 6.1 10.2 12.6 [2] 21.6
Other comprehensive income (loss), net of tax 5.7 0.5 65.7 2.8
Comprehensive income 119.0 121.7 249.4 259.0
Less: Comprehensive income attributable to the noncontrolling interest 3.4 3.9 8.5 7.9
Comprehensive income attributable to FMC stockholders $ 115.6 $ 117.8 $ 240.9 $ 251.1
[1] Income taxes are not provided on the equity in undistributed earnings of our foreign subsidiaries or affiliates since it is our intention that such earnings will remain invested in those affiliates permanently. The amount for the six months end June 30, 2014 includes reclassification to net income due to the divestiture of our FMC Peroxygens business, see Note 14 for more information. In accordance with accounting guidance, this amount was previously factored into the lower of cost or fair value test associated with the 2013 Peroxygens' asset held for sale write-down charges.
[2] See condensed consolidated statements of comprehensive income.
[3] Amounts in parentheses indicate charges to the condensed consolidated statements of income.
[4] For more detail on the components of these reclassifications and the affected line item in the Condensed Consolidated Statements of Income see Note 14.
[5] At December 31st 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. The interim adjustments noted above reflect the foreign currency translation impacts from the unrealized actuarial gains (losses) and prior service (costs) credits related to our foreign pension and postretirement plans.