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 March 31,
(in Millions)	2018			2017
Restructuring charges and asset disposals	$	4.7		$	—
Other charges (income), net	(82.4		)	8.3
Total restructuring and other charges (income)	$	(77.7	)	$	8.3

Restructuring charges and asset disposals

For detail on restructuring activities which commenced prior to 2018, see Note 7 to our consolidated financial statements included with our 2017 Form 10-K. There were no restructuring charges or asset disposal activities in our continuing operations for the three months ended March 31, 2017.



	Restructuring Charges
(in Millions)	Severance and Employee Benefits⁽¹⁾		Other Charges (Income)⁽²⁾		Asset Disposal Charges ⁽²⁾		Total
DuPont Crop restructuring	$	—	$	—	$	1.0	$	1.0
Lithium Restructuring	—		1.9		0.2		2.1
Other items	—		1.6		—		1.6
Three Months Ended March 31, 2018	$	—	$	3.5	$	1.2	$	4.7

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


(2)	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.

2018 Restructuring Activities

DuPont Crop Restructuring

In 2017, we completed the acquisition of the DuPont Crop Protection Business. See Note 4 for more details. As part of the integration of the DuPont Crop Protection Business into our existing FMC Agricultural Solutions segment we expect to engage in various restructuring activities. These restructuring activities may include workforce reductions, relocation of current operating locations, lease and other contract termination costs and fixed asset accelerated depreciation as well as other asset disposal charges at several of our FMC Agricultural Solutions' operations.

As part of the DuPont Crop Protection Business Acquisition, we acquired the Stine R&D facilities ("Stine") from DuPont. Due to its proximity to our previously existing Ewing R&D center ("Ewing"), in March 2018, we decided to migrate our Ewing R&D activities and employees into the newly acquired Stine facilities. As a result of this decision, we are accelerating the depreciation of certain fixed assets that will no longer be used when we exit the facility. We incurred $1.0 million in the first quarter of 2018, and expect to incur approximately $15 million in total accelerated depreciation charges during 2018. We expect to exit the facility by the end of the third quarter of 2018 and may recognize other exit costs during that time period.

Lithium Restructuring

In 2018, we implemented a formal plan to restructure our operations at the FMC Lithium manufacturing site located in Bessemer City, North Carolina. The objective of this restructuring plan was to optimize both the assets and cost structure by reducing certain production lines at the plant. The restructuring decision resulted in primarily shutdown costs which are reflected in the table above.

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 12/31/17 ⁽²⁾		Change in reserves ⁽³⁾		Cash payments			Other			Balance at 3/31/18 ⁽²⁾
Cheminova restructuring	$	1.2	$	—	$	(1.2	)	$	—		$	—
Lithium Restructuring	3.0		1.9		(0.2		)	0.1			4.8
Other workforce related and facility shutdowns ⁽¹⁾	2.3		1.6		(3.2		)	(0.7		)	—
Total	$	6.5	$	3.5	$	(4.6	)	$	(0.6	)	$	4.8

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(1)	Primarily severance costs related to workforce reductions and facility shutdowns.


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


(3)	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 or other long-term assets are not included in the above tables.

Other charges (income), net



	Three Months Ended March 31,
(in Millions)	2018			2017
Environmental charges, net	$	2.6		$	2.3
European herbicide portfolio sale	(85.0		)	—
Other items, net	—			6.0
Other charges (income), net	$	(82.4	)	$	8.3

Environmental charges, net

Environmental charges represent the net charges associated with environmental remediation at continuing operating sites. See Note 12 for additional details.

European Herbicide Portfolio Sale

On February 1, 2018, we sold a portion of our European herbicide portfolio to Nufarm Limited. Refer to Note 4 for more information. The gain on sale is recorded within "Restructuring and other charges (income)" on the condensed consolidated statements of income (loss). Proceeds from this sale is included in "Other investing activities" on the condensed consolidated statements of cash flows.

Other items, net

Other items, net for the three months ended March 31, 2017 primarily relate to exit costs resulting from the termination and deconsolidation of our interest in a variable interest entity that was previously consolidated and was part of our FMC Agricultural Solutions segment.