XML 51 R2.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Consolidated Statements of Income (USD $)
In Millions, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
Income Statement [Abstract]        
Revenue $ 1,015.9 $ 957.4 $ 2,945.5 $ 2,744.1
Costs and Expenses        
Costs of sales and services 692.2 653.0 1,935.7 1,758.6
Gross margin 323.7 304.4 1,009.8 985.5
Selling, general and administrative expenses 147.4 124.9 391.8 374.1
Research and development expenses 30.6 29.0 89.9 84.7
Restructuring and other charges (income) 35.6 [1] 32.1 [1] 45.0 [1] 47.3 [1]
Business separation costs 6.8 [2],[3] 0 [2],[3] 23.6 [2],[3] 0 [2],[3]
Total costs and expenses 912.6 839.0 2,486.0 2,264.7
Income from continuing operations before equity in (earnings) loss of affiliates, interest expense, net and income taxes 103.3 118.4 459.5 479.4
Equity in (earnings) loss of affiliates 0.4 0.1 0.6 0.5
Interest expense, net 14.9 9.8 43.7 31.4
Income from continuing operations before income taxes 88.0 108.5 415.2 447.5
Provision for income taxes 7.4 32.0 88.2 113.1
Income from continuing operations 80.6 76.5 327.0 334.4
Discontinued operations, net of income taxes (20.5) (56.6) (83.2) (58.3)
Net income 60.1 19.9 243.8 276.1
Less: Net income attributable to noncontrolling interests 3.8 2.0 12.8 9.3
Net income attributable to FMC stockholders 56.3 17.9 231.0 266.8
Amounts attributable to FMC stockholders:        
Continuing operations, net of income taxes 76.8 74.5 314.2 325.1
Discontinued operations, net of income taxes (20.5) (56.6) (83.2) (58.3)
Net income attributable to FMC stockholders $ 56.3 $ 17.9 $ 231.0 $ 266.8
Basic earnings (loss) per common share attributable to FMC stockholders:        
Continuing operations $ 0.57 $ 0.55 $ 2.35 $ 2.39
Discontinued operations $ (0.15) $ (0.42) $ (0.62) $ (0.43)
Net income attributable to FMC stockholders $ 0.42 $ 0.13 $ 1.73 $ 1.96
Diluted earnings (loss) per common share attributable to FMC stockholders:        
Continuing operations $ 0.57 $ 0.55 $ 2.34 $ 2.38
Discontinued operations $ (0.15) $ (0.42) $ (0.62) $ (0.43)
Net income attributable to FMC stockholders $ 0.42 $ 0.13 $ 1.72 $ 1.95
[1] See Note 8 within these condensed consolidated financial statements for details of restructuring and other charges (income). Amounts for the three months ended September 30, 2014, relate to FMC Agricultural Solutions of $17.0 million, FMC Minerals of $0.1 million and Corporate of $18.5 million. Amounts for the three months ended September 30, 2013, relate to FMC Agricultural Solutions of $30.7 million, FMC Health and Nutrition of $0.1 million, FMC Minerals of $0.3 million and Corporate of $1.0 million. Amounts for the nine months ended September 30, 2014, relate to FMC Agricultural Solutions of $17.0 million, FMC Health and Nutrition of $5.9 million, FMC Minerals of $0.1 million and Corporate of $22.0 million. Amounts for the nine months ended September 30, 2013, relate to FMC Agricultural Solutions of $32.6 million, FMC Health and Nutrition of $0.8 million, FMC Minerals of $9.6 million and Corporate of $4.3 million.
[2] Charges associated with the previously planned separation of FMC; see Note 20 within these condensed consolidated financial statements for more information.
[3] Charges are associated with the previously planned separation of our FMC Corporation into two independent public companies. See Note 4 within these condensed consolidated financial statements for more detail on the business separation costs. These charges are included within "Business separation costs" on our condensed consolidated income statement. These costs were primarily related to professional fees associated with separation activities within the finance and legal functions.