XML 29 R42.htm IDEA: XBRL DOCUMENT v2.4.0.8
Income Taxes Select Discrete Tax Items (Tables)
 9 Months Ended
Sep. 30, 2014
Income Tax Disclosure [Abstract]  
Select Discrete Tax Items [Table Text Block]
 
Three Months Ended September 30

2014

2013
(in Millions)
Income (Expense)
Tax Provision (Benefit)
Effective Tax Rate % Impact

Income (Expense)
Tax Provision (Benefit)
Effective Tax Rate % Impact
Select discrete tax items:













Business separation costs (1)
$
(6.8
)
$
(2.5
)
 

$
—

$
—

 
Acquisition/divestiture related charges (2)
(37.5
)
(11.8
)
 

(6.7
)
(1.9
)
 
Tax only discrete items (3)
 
(7.8
)
 

 
7.4

 
Total tax benefit of items above
$
(44.3
)
$
(22.1
)
13.9
%

$
(6.7
)
$
5.5

(6.5
)%
____________________ 
(1)
Charges associated with the previously planned separation of FMC; see Note 20 within these condensed consolidated financial statements for more information.
(2)
Charges associated with the planned acquisition of Cheminova and divestiture of our FMC Alkali Chemicals division; see Note 20 within these condensed consolidated financial statements for more information.
(3)
Represents the tax effect of currency remeasurement associated with our foreign operations that in accordance with GAAP income tax accounting guidance shall be treated discretely for tax purposes. Amounts also include revisions to our tax liabilities associated with prior year tax matters. The tax charges in 2013 were associated with the sale of our discontinued FMC Peroxygens business as well as revisions to our tax liabilities associated with prior year tax matters.
 
Nine Months Ended September 30
 
2014
 
2013
(in Millions)
Income (Expense)
Tax Provision (Benefit)
Effective Tax Rate % Impact
 
Income (Expense)
Tax Provision (Benefit)
Effective Tax Rate % Impact
Select discrete tax items:
 
 
 
 
 
 
 
Business separation costs (1)
$
(23.6
)
$
(8.7
)
 
 
$
—

$
—

 
Acquisition/divestiture related charges (2)
(41.7
)
(12.9
)
 
 
(6.7
)
(1.9
)
 
Tax only discrete items (3)
 
(6.8
)
 
 
 
9.1

 
Total tax benefit of items above
$
(65.3
)
$
(28.4
)
3.1
%
 
$
(6.7
)
$
7.2

(2.0
)%
____________________ 
(1)
Charges associated with the previously planned separation of FMC; see Note 20 within these condensed consolidated financial statements for more information.
(2)
Charges associated with the planned acquisition of Cheminova and divestiture of our FMC Alkali Chemicals division; see Note 20 within these condensed consolidated financial statements for more information.
(3)
Represents the tax effect of currency remeasurement associated with our foreign operations that in accordance with GAAP income tax accounting guidance shall be treated discretely for tax purposes. Amounts also include revisions to our tax liabilities associated with prior year tax matters. The tax charges in 2013 were associated with the sale of our discontinued FMC Peroxygens business as well as revisions to our tax liabilities associated with prior year tax matters.