Restructuring and Other Charges (Income)

Our restructuring and other charges (income) are comprised of restructuring, asset disposals and other charges (income) as noted below:



	Three Months Ended June 30				Six Months Ended June 30
(in Millions)	2016		2015		2016		2015
Restructuring charges and asset disposals	$	9.1	$	6.8	$	12.3	$	12.2
Other charges (income), net	3.2		3.5		12.4		20.4
Total restructuring and other charges	$	12.3	$	10.3	$	24.7	$	32.6

Restructuring charges and asset disposals

Detail on the 2016 restructuring charges and asset disposal activities is provided below. For detail on restructuring activities which commenced prior to 2016, see Note 7 to our consolidated financial statements included with our 2015 Form 10-K.

2016 Restructuring Activities

Cheminova Restructuring

In 2015, we completed the acquisition of Cheminova; see Note 3 for more details. As part of the integration of Cheminova into our existing FMC Agricultural Solutions segment we implemented a restructuring plan. The restructuring plan includes workforce reductions, relocation of current operating locations, lease termination fees and fixed asset accelerated depreciation as well as fixed asset disposal charges at several of our FMC Agricultural Solutions' facilities. In 2016, these restructuring activities continued; however, we expect the restructuring charges to be completed in 2016.



	Restructuring Charges
(in Millions)	Severance and Employee Benefits (1)		Other Charges (Income) (2)			Asset Disposal Charges (3)		Total
Cheminova Restructuring	$	3.2	$	1.4		$	1.3	$	5.9
Other Items	0.6		—			2.6		3.2
Three months ended June 30, 2016	$	3.8	$	1.4		$	3.9	$	9.1

Cheminova Restructuring	$	4.4	$	0.3		$	0.1	$	4.8
Health and Nutrition Restructuring	0.8		—			1.0		1.8
Other Items	—		0.2			—		0.2
Three months ended June 30, 2015	$	5.2	$	0.5		$	1.1	$	6.8

Cheminova Restructuring	$	5.1	$	1.3		$	2.5	$	8.9
Other Items	0.4		0.4			2.6		3.4
Six months ended June 30, 2016	$	5.5	$	1.7		$	5.1	$	12.3

Cheminova Restructuring	$	4.4	$	0.3		$	0.1	$	4.8
Health and Nutrition Restructuring	1.6		0.1			2.2		3.9
Other Items	3.6		(0.1		)	—		3.5
Six months ended June 30, 2015	$	9.6	$	0.3		$	2.3	$	12.2

____________________


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


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


(3)	Primarily represents accelerated depreciation and impairment charges on long-lived assets, which were or are to be abandoned. To the extent incurred the acceleration effect of re-estimating settlement dates and revised cost estimates associated with asset retirement obligations due to facility shutdowns are also included within the asset disposal charges.

Roll forward of restructuring reserves

The following table shows a roll forward of restructuring reserves, continuing and discontinued, that will result in cash spending. These amounts exclude asset retirement obligations.



(in Millions)	Balance at 12/31/15 ⁽³⁾		Change in reserves ⁽²⁾		Cash payments			Other			Balance at 6/30/16 ⁽³⁾
Cheminova Restructuring	$	8.7	$	6.4	$	(9.9	)	$	(4.2	)	$	1.0
Other Workforce Related and Facility Shutdowns ⁽¹⁾	6.5		0.8		(3.7		)	(0.3		)	3.3
Restructuring activities related to discontinued operations ⁽⁴⁾	0.4		—		—			—			0.4
Total	$	15.6	$	7.2	$	(13.6	)	$	(4.5	)	$	4.7

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


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


(3)	Included in "Accrued and other liabilities" on the condensed consolidated balance sheets.


(4)	Cash spending associated with restructuring activities of discontinued operations is reported within "Other discontinued reserves" on the condensed consolidated statements of cash flows.

Other charges (income), net



	Three Months Ended June 30				Six Months Ended June 30
(in Millions)	2016		2015		2016			2015
Environmental charges, net	$	2.5	$	3.5	$	9.1		$	5.4
Argentina devaluation	—		—		4.2			—
Other items, net	0.7		—		(0.9		)	15.0
Other charges (income), net	$	3.2	$	3.5	$	12.4		$	20.4

Environmental charges, net

Environmental charges represent the net charges associated with environmental remediation at continuing operating sites. See Note 11 for additional details.

Argentina Devaluation

On December 17, 2015, the Argentina government initiated actions to significantly devalue its currency. These actions continued into a portion of first quarter of 2016. These actions created an immediate loss associated with the impacts of the remeasurement of our local balance sheet. The loss was attributable to our Lithium and Agricultural Solutions operations. Because of the severity of the event and its immediate impact to our operations in the country, the charge associated with the remeasurement was included within restructuring and other charges in our condensed consolidated income statement during the period. We believe these actions have ended and do not expect further charges for remeasurement to be included within restructuring and other charges.

Other items, Net

During 2015, our FMC Agricultural Solutions segment entered into collaboration and license agreements with various third parties for the purpose of obtaining certain technology and intellectual property rights relating to compounds under development. The rights and technology obtained is referred to as in-process research and development and in accordance with GAAP, the amounts paid are expensed as incurred since they were acquired outside of a business combination. We entered into one such arrangement in the first quarter of 2015.