Goodwill and Intangible Assets (Tables)
|
3 Months Ended |
Mar. 31, 2018 |
Goodwill and Intangible Assets Disclosure [Abstract] |
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Goodwill by business segment |
The changes in the carrying amount of goodwill by business segment are presented in the table below: | | | | | | | | | | | | | (in Millions) | FMC Agricultural Solutions | | FMC Lithium | | Total | Balance, December 31, 2017 | $ | 1,198.9 |
| | $ | — |
| | $ | 1,198.9 |
| Purchase price allocation adjustments (See Note 4) | 43.8 |
| | — |
| | 43.8 |
| Foreign currency and other adjustments | 0.1 |
| | — |
| | 0.1 |
| Balance, March 31, 2018 | $ | 1,242.8 |
| | $ | — |
| | $ | 1,242.8 |
|
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Schedule of finite-lived intangible assets |
Our intangible assets, other than goodwill, consist of the following: | | | | | | | | | | | | | | | | | | | | | | | | | | March 31, 2018 | | December 31, 2017 | (in Millions) | Gross | | Accumulated Amortization | | Net | | Gross | | Accumulated Amortization | | Net | Intangible assets subject to amortization (finite-lived) | Customer relationships | $ | 1,173.6 |
| | $ | (88.3 | ) | | $ | 1,085.3 |
| | $ | 1,122.5 |
| | $ | (73.3 | ) | | $ | 1,049.2 |
| Patents | 2.0 |
| | (0.6 | ) | | 1.4 |
| | 2.0 |
| | (0.6 | ) | | 1.4 |
| Brands (1) | 16.3 |
| | (6.6 | ) | | 9.7 |
| | 15.7 |
| | (6.2 | ) | | 9.5 |
| Purchased and licensed technologies | 58.0 |
| | (30.2 | ) | | 27.8 |
| | 57.3 |
| | (28.9 | ) | | 28.4 |
| Other intangibles | 2.9 |
| | (2.1 | ) | | 0.8 |
| | 2.9 |
| | (2.0 | ) | | 0.9 |
| | $ | 1,252.8 |
| | $ | (127.8 | ) | | $ | 1,125.0 |
| | $ | 1,200.4 |
| | $ | (111.0 | ) | | $ | 1,089.4 |
|
| | | | | | | | | | | | | | | | | | | | | | | | | Intangible assets not subject to amortization (indefinite-lived) | Crop Protection Brands (1)(2) | $ | 1,258.5 |
| | | | $ | 1,258.5 |
| | $ | 1,136.1 |
| | | | $ | 1,136.1 |
| Brands (1) (3) | 421.0 |
| | | | 421.0 |
| | 405.6 |
| | | | 405.6 |
| In-process research & development | 0.7 |
| | | | 0.7 |
| | 0.7 |
| | | | 0.7 |
| | $ | 1,680.2 |
| | | | $ | 1,680.2 |
| | $ | 1,542.4 |
| | | | $ | 1,542.4 |
| Total intangible assets | $ | 2,933.0 |
| | $ | (127.8 | ) | | $ | 2,805.2 |
| | $ | 2,742.8 |
| | $ | (111.0 | ) | | $ | 2,631.8 |
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____________________ | | (1) | Represents trademarks, trade names and know-how. |
| | (2) | Represents the proprietary brand portfolios, consisting of trademarks, trade names and know-how, acquired from the DuPont Crop Protection Business Acquisition. |
| | (3) | The majority of the Brands relate to our proprietary brand portfolios acquired from the Cheminova acquisition. |
|
Schedule of indefinite-lived intangible assets |
Our intangible assets, other than goodwill, consist of the following: | | | | | | | | | | | | | | | | | | | | | | | | | | March 31, 2018 | | December 31, 2017 | (in Millions) | Gross | | Accumulated Amortization | | Net | | Gross | | Accumulated Amortization | | Net | Intangible assets subject to amortization (finite-lived) | Customer relationships | $ | 1,173.6 |
| | $ | (88.3 | ) | | $ | 1,085.3 |
| | $ | 1,122.5 |
| | $ | (73.3 | ) | | $ | 1,049.2 |
| Patents | 2.0 |
| | (0.6 | ) | | 1.4 |
| | 2.0 |
| | (0.6 | ) | | 1.4 |
| Brands (1) | 16.3 |
| | (6.6 | ) | | 9.7 |
| | 15.7 |
| | (6.2 | ) | | 9.5 |
| Purchased and licensed technologies | 58.0 |
| | (30.2 | ) | | 27.8 |
| | 57.3 |
| | (28.9 | ) | | 28.4 |
| Other intangibles | 2.9 |
| | (2.1 | ) | | 0.8 |
| | 2.9 |
| | (2.0 | ) | | 0.9 |
| | $ | 1,252.8 |
| | $ | (127.8 | ) | | $ | 1,125.0 |
| | $ | 1,200.4 |
| | $ | (111.0 | ) | | $ | 1,089.4 |
|
| | | | | | | | | | | | | | | | | | | | | | | | | Intangible assets not subject to amortization (indefinite-lived) | Crop Protection Brands (1)(2) | $ | 1,258.5 |
| | | | $ | 1,258.5 |
| | $ | 1,136.1 |
| | | | $ | 1,136.1 |
| Brands (1) (3) | 421.0 |
| | | | 421.0 |
| | 405.6 |
| | | | 405.6 |
| In-process research & development | 0.7 |
| | | | 0.7 |
| | 0.7 |
| | | | 0.7 |
| | $ | 1,680.2 |
| | | | $ | 1,680.2 |
| | $ | 1,542.4 |
| | | | $ | 1,542.4 |
| Total intangible assets | $ | 2,933.0 |
| | $ | (127.8 | ) | | $ | 2,805.2 |
| | $ | 2,742.8 |
| | $ | (111.0 | ) | | $ | 2,631.8 |
|
____________________ | | (1) | Represents trademarks, trade names and know-how. |
| | (2) | Represents the proprietary brand portfolios, consisting of trademarks, trade names and know-how, acquired from the DuPont Crop Protection Business Acquisition. |
| | (3) | The majority of the Brands relate to our proprietary brand portfolios acquired from the Cheminova acquisition. |
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Schedule of intangible assets by segment |
At March 31, 2018, the finite-lived and indefinite-lived intangibles were allocated among our business segments as follows: | | | | | | | | | (in Millions) | Finite-lived | | Indefinite-lived | FMC Agricultural Solutions | $ | 1,124.0 |
| | $ | 1,680.2 |
| FMC Lithium | 1.0 |
| | — |
| Total | $ | 1,125.0 |
| | $ | 1,680.2 |
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Schedule of finite-lived intangible assets amortization expense |
| | | | | | | | | | Three Months Ended March 31, | (in Millions) | 2018 | | 2017 | Amortization expense | $ | 13.5 |
| | $ | 5.1 |
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