Document and Entity Information	9 Months Ended
Document and Entity Information	Sep. 30, 2010
Document and Entity Information [Abstract]
Entity Registrant Name	AGCO CORP /DE
Entity Central Index Key	0000880266
Document Type	10-Q
Document Period End Date	Sep. 30, 2010
Amendment Flag	false
Document Fiscal Year Focus	2010
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding	93,045,763

Condensed Consolidated Balance Sheets (Unaudited) (USD $) In Millions, unless otherwise specified	9 Months Ended	12 Months Ended
	Sep. 30, 2010	Dec. 31, 2009
Current Assets:
Cash and cash equivalents	$ 459.2	$ 651.4
Accounts and notes receivable, net	863.4	725.2
Inventories, net	1,432.3	1,156.7
Deferred tax assets	85.7	63.6
Other current assets	167.9	151.6
Total current assets	3,008.5	2,748.5
Property, plant and equipment, net	874.0	910.0
Investment in affiliates	378.4	353.9
Deferred tax assets	67.5	70.0
Other assets	131.4	115.7
Intangible assets, net	150.0	166.8
Goodwill	611.9	634.0
Total assets	5,221.7	4,998.9
Current Liabilities:
Current portion of long-term debt	0	0.1
Convertible senior subordinated notes	162.1	193.0
Securitization facilities	75.4	0
Accounts payable	666.1	621.6
Accrued expenses	799.8	808.7
Other current liabilities	76.1	45.5
Total current liabilities	1,779.5	1,668.9
Long-term debt, less current portion	446.1	454.0
Pensions and postretirement health care benefits	266.7	276.6
Deferred tax liabilities	117.7	118.7
Other noncurrent liabilities	80.5	78.0
Total liabilities	2,690.5	2,596.2
Commitments and contingencies (Note 16)
Temporary Equity:
Equity component of redeemable convertible senior subordinated notes	1.7	8.3
AGCO Corporation stockholders' equity:
Preferred stock; $0.01 par value, 1,000,000 shares authorized, no shares issued or outstanding in 2010 and 2009	0	0
Common stock; $0.01 par value, 150,000,000 shares authorized, 93,044,066 and 92,453,665 shares issued and outstanding at September 30, 2010 and December 31, 2009, respectively	0.9	0.9
Additional paid-in capital	1,044.7	1,061.9
Retained earnings	1,653.1	1,517.8
Accumulated other comprehensive loss	(170.1)	(187.4)
Total AGCO Corporation stockholders' equity	2,528.6	2,393.2
Noncontrolling interest	0.9	1.2
Total stockholders' equity	2,529.5	2,394.4
Total liabilities, temporary equity and stockholders' equity	$ 5,221.7	$ 4,998.9

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) (USD $)	Sep. 30, 2010	Dec. 31, 2009
AGCO Corporation stockholders' equity:
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	150,000,000	150,000,000
Common stock, shares issued	93,044,066	92,453,665
Common stock, shares outstanding	93,044,066	92,453,665

Condensed Consolidated Statements of Operations (Unaudited) (USD $) In Millions, except Per Share data, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2010	Sep. 30, 2009	Sep. 30, 2010	Sep. 30, 2009
Condensed Consolidated Statements of Operations [Abstract]
Net sales	$ 1,657.4	$ 1,389.5	$ 4,728.6	$ 4,689.2
Cost of goods sold	1,353.6	1,146.4	3,879.1	3,883.5
Gross profit	303.8	243.1	849.5	805.7
Selling, general and administrative expenses	170.3	155.5	492.1	471.3
Engineering expenses	51.4	46.3	158.5	146.4
Restructuring and other infrequent expenses	1.2	1.0	3.3	3.8
Amortization of intangibles	5.0	4.6	13.8	13.3
Income from operations	75.9	35.7	181.8	170.9
Interest expense, net	5.8	10.1	23.7	33.1
Other expense, net	4.9	5.6	9.7	20.4
Income before income taxes and equity in net earnings of affiliates	65.2	20.0	148.4	117.4
Income tax provision	14.1	14.8	49.8	43.2
Income before equity in net earnings of affiliates	51.1	5.2	98.6	74.2
Equity in net earnings of affiliates	11.1	5.9	36.4	28.0
Net income	62.2	11.1	135.0	102.2
Net loss attributable to noncontrolling interest	0.1	0	0.3	0
Net income attributable to AGCO Corporation and subsidiaries	$ 62.3	$ 11.1	$ 135.3	$ 102.2
Net income per common share attributable to AGCO Corporation and subsidiaries:
Basic	$ 0.67	$ 0.12	$ 1.46	$ 1.11
Diluted	$ 0.65	$ 0.12	$ 1.41	$ 1.09
Weighted average number of common and common equivalent shares outstanding:
Basic	92.9	92.3	92.7	92.2
Diluted	95.8	94.8	96.0	93.5

Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $) In Millions, unless otherwise specified	9 Months Ended
	Sep. 30, 2010	Sep. 30, 2009
Cash flows from operating activities:
Net income	$ 135.0	$ 102.2
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation	97.7	83.6
Deferred debt issuance cost amortization	2.1	2.1
Amortization of intangibles	13.8	13.3
Amortization of debt discount	11.7	11.3
Stock compensation	8.5	11.3
Equity in net earnings of affiliates, net of cash received	(25.3)	(13.6)
Deferred income tax provision	(14.0)	(7.9)
Gain on sale of property, plant and equipment	(0.1)	(0.3)
Changes in operating assets and liabilities:
Accounts and notes receivable, net	22.0	35.1
Inventories, net	(277.2)	45.7
Other current and noncurrent assets	(62.0)	19.0
Accounts payable	46.3	(379.2)
Accrued expenses	28.7	(65.0)
Other current and noncurrent liabilities	16.9	(16.2)
Total adjustments	(130.9)	(260.8)
Net cash provided by (used in) operating activities	4.1	(158.6)
Cash flows from investing activities:
Purchases of property, plant and equipment	(82.8)	(142.9)
Proceeds from sale of property, plant and equipment	0.5	1.8
Investments in unconsolidated affiliates, net	0	(1.1)
Restricted cash and other	0	32.2
Net cash used in investing activities	(82.3)	(110.0)
Cash flows from financing activities:
Repayment of debt obligations, net	(76.0)	(59.9)
Repurchase of convertible senior subordinated notes	(58.1)	0
Payment of minimum tax withholdings on stock compensation	(11.1)	(5.2)
Proceeds from issuance of common stock	0.2	0
Investments by noncontrolling interest	0	1.3
Net cash used in financing activities	(145.0)	(63.8)
Effect of exchange rate changes on cash and cash equivalents	31.0	44.7
Decrease in cash and cash equivalents	(192.2)	(287.7)
Cash and cash equivalents, beginning of period	651.4	506.1
Cash and cash equivalents, end of period	$ 459.2	$ 218.4

Basis of Presentation	9 Months Ended
Basis of Presentation	Sep. 30, 2010
Basis of Presentation [Abstract]
BASIS OF PRESENTATION	1. BASIS OF PRESENTATION The condensed consolidated financial statements of AGCO Corporation and its subsidiaries (the “Company” or “AGCO”) included herein have been prepared in accordance with United States generally accepted accounting principles (“U.S. GAAP”) for interim financial information and the rules and regulations of the Securities and Exchange Commission (“SEC”). In the opinion of management, the accompanying unaudited condensed consolidated financial statements reflect all adjustments, which are of a normal recurring nature, necessary to present fairly the Company’s financial position, results of operations and cash flows at the dates and for the periods presented. These condensed consolidated financial statements should be read in conjunction with the Company’s audited financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2009. Results for interim periods are not necessarily indicative of the results for the year. Certain prior period amounts have been reclassified to conform to the current period presentation. *Recent Accounting Pronouncements* In December 2009, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2009-17, “Consolidations (Topic 810): Improvements to Financial Reporting by Enterprises Involved with Variable Interest Entities” (“ASU 2009-17”). ASU 2009-17 eliminated the quantitative approach previously required for determining the primary beneficiary of a variable interest entity and requires a qualitative analysis to determine whether an enterprise’s variable interest gives it a controlling financial interest in a variable interest entity. This standard also requires ongoing assessments of whether an enterprise has a controlling financial interest in a variable interest entity. ASU 2009-17 is effective for financial statements issued for fiscal years and interim periods beginning after November 15, 2009. On January 1, 2010, the Company adopted the provisions of ASU 2009-17 and performed a qualitative analysis of all its joint ventures, including its GIMA joint venture, to determine whether it had a controlling financial interest in such ventures. As a result of this analysis, the Company determined that its GIMA joint venture should no longer be consolidated into the Company’s results of operations or financial position as the Company does not have a controlling financial interest in GIMA based on the shared powers of both joint venture partners to direct the activities that most significantly impact GIMA’s financial performance (Note 2). In December 2009, the FASB issued ASU 2009-16, “Transfers and Servicing (Topic 860): Accounting for Transfers of Financial Assets” (“ASU 2009-16”). ASU 2009-16 eliminated the concept of a qualifying special-purpose entity (“QSPE”), changed the requirements for derecognizing financial assets, and added requirements for additional disclosures in order to enhance information reported to users of financial statements by providing greater transparency about transfers of financial assets, including securitization transactions, and an entity’s continuing involvement in and exposure to the risks related to transferred financial assets. ASU 2009-16 is effective for fiscal years and interim periods beginning after November 15, 2009. On January 1, 2010, the Company adopted the provisions of ASU 2009-16, and, in accordance with the standard, the Company recognized approximately $75.4 million of accounts receivable sold through its European securitization facilities within the Company’s Condensed Consolidated Balance Sheets as of September 30, 2010, with a corresponding liability equivalent to the funded balance of the facility (Note 13).

Deconsolidation of Joint Venture

9 Months Ended

Sep. 30, 2010

Deconsolidation of Joint Venture [Abstract]

DECONSOLIDATION OF JOINT VENTURE

2. DECONSOLIDATION OF JOINT VENTURE

On January 1, 2010, the Company adopted the provisions of ASU 2009-17 and performed a qualitative analysis of all its joint ventures, including its GIMA joint venture, to determine whether it had a controlling financial interest in such ventures. As a result of this analysis, the Company determined that its GIMA joint venture should no longer be consolidated into the Company’s results of operations or financial position as the Company does not have a controlling financial interest in GIMA based on the shared powers of both joint venture partners to direct the activities that most significantly impact GIMA’s financial performance. GIMA is a joint venture between AGCO and Claas Tractor SAS to cooperate in the field of purchasing, design and manufacturing of components for agricultural tractors. Each party has a 50% ownership interest in the joint venture and has an investment of approximately €4.2 million in the joint venture. Both parties purchase all of the production output of the joint venture. The deconsolidation of GIMA resulted in a retroactive reduction to “Noncontrolling interests” within equity and an increase to “Investments in affiliates” of approximately $6.4 million in the Company’s Condensed Consolidated Balance Sheet as of December 31, 2009. The deconsolidation also resulted in a retroactive reduction to the Company’s “Net sales” and “Income from Operations” within its Condensed Consolidated Statements of Operations and a reclassification of amounts previously reported as “Net income attributable to noncontrolling interests” to “Equity in net earnings of affiliates,” but otherwise had no net impact to the Company’s consolidated net income for the three and nine months ended September 30, 2009. In addition, the deconsolidation resulted in a reduction to the Company’s “Total assets” and “Total liabilities” within its Condensed Consolidated Balance Sheets as of December 31, 2009, but had no net impact to the Company’s “Total stockholders’ equity” other than the reduction previously mentioned. The Company retroactively restated prior periods and recorded the following adjustments (in millions):


	As
	Previously
	Reported		Adjustment			As adjusted
Condensed Consolidated Balance Sheet as of December 31, 2009

Total assets	$	5,062.2	$	(63.3	)	$	4,998.9
Total liabilities	$	2,653.1	$	(56.9	)	$	2,596.2

Condensed Consolidated Statement of Operations for the Three Months Ended September 30, 2009

Net sales	$	1,403.7	$	(14.2	)	$	1,389.5
Income from operations	$	34.0	$	1.7		$	35.7

Condensed Consolidated Statement of Operations for the Nine Months Ended September 30, 2009

Net sales	$	4,777.9	$	(88.7	)	$	4,689.2
Income from operations	$	170.4	$	0.5		$	170.9

- Definition

Equity investment disclosure, or group of investments for which combined disclosure is appropriate, including: (a) the name of each investee and percentage of ownership of common stock, (b) accounting policies for investments in common stock, (c) difference between the amount at which the investment is carried and the amount of underlying equity in net assets and the accounting treatment of the difference, (d) the total fair value of each identified investment for which a market value is available, (e) summarized information as to assets, liabilities, and results of operations of the investees (for investments in unconsolidated subsidiaries, common stock of joint ventures, or other investments using the equity method), and (f) material effects of possible conversions, exercises, or contingent issuances of the investee. Other disclosures include (a) the names of any investee in which the investor owns 20 percent or more of the voting stock and investment is not accounted for using the equity method, and the reasons why not, and (b) the names of any investee in which the investor owns less than 20% of the voting stock and the investment is accounted for using the equity method, and the reasons why it is.

+ References+ Details

Restructuring and Other Infrequent Expenses	9 Months Ended
Restructuring and Other Infrequent Expenses	Sep. 30, 2010
Restructuring and Other Infrequent Expenses [Abstract]
RESTRUCTURING AND OTHER INFREQUENT EXPENSES	3. RESTRUCTURING AND OTHER INFREQUENT EXPENSES During 2009 and 2010, the Company announced and initiated several actions to rationalize employee headcount at various manufacturing facilities located in France, Finland, Germany and the United States, as well as at various administrative offices located in the United Kingdom, Spain and the United States. During 2009, the Company recorded approximately $12.8 million of severance and other related costs associated with such actions and paid approximately $5.0 million of such costs. During the nine months ended September 30, 2010, the Company recorded additional restructuring and other infrequent expenses of approximately $1.3 million associated with such actions, which were primarily related to severance, retention and other related costs incurred in Spain, Finland and France. The Company paid approximately $7.1 million of severance and other related costs during the nine months ended September 30, 2010 associated with such actions and terminated 650 of the 727 employees expected to be terminated. A majority of the remaining $2.0 million of severance and other related costs accrued as of September 30, 2010 are expected to be paid during 2010. In November 2009, the Company announced the closure of its assembly operations located in Randers, Denmark. The Company ceased operations in July 2010 and completed the transfer of the assembly operations to its harvesting equipment manufacturing joint venture, Laverda, located in Breganze, Italy, in August 2010. The Company recorded approximately $0.4 million of severance and other related costs in 2009 associated with the facility closure. During the nine months ended September 30, 2010, the Company recorded additional restructuring and other infrequent expenses of approximately $2.0 million associated with the closure, primarily related to employee retention payments, which are being accrued over the term of the retention period. The Company paid approximately $1.2 million of severance and other related costs during the nine months ended September 30, 2010 and terminated 54 of the 82 employees expected to be terminated. A majority of the remaining $1.2 million of severance, retention and other related costs accrued as of September 30, 2010 are expected to be paid during 2010.

Stock Compensation Plans

9 Months Ended

Sep. 30, 2010

Stock Compensation Plans [Abstract]

STOCK COMPENSATION PLANS

4. STOCK COMPENSATION PLANS

The Company recorded stock compensation expense as follows (in millions):


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2010		2009		2010		2009
Cost of goods sold	$	0.2	$	0.1	$	0.5	$	0.6
Selling, general and administrative expenses		3.0		2.8		8.2		11.0

Total stock compensation expense	$	3.2	$	2.9	$	8.7	$	11.6

Stock Incentive Plans

Under the Company’s 2006 Long Term Incentive Plan (the “2006 Plan”), up to 5.0 million shares of AGCO common stock may be issued. The 2006 Plan allows the Company, under the direction of the Board of Directors’ Compensation Committee, to make grants of performance shares, stock appreciation rights, stock options and restricted stock awards to employees, officers and non-employee directors of the Company.

Employee Plans

The weighted average grant-date fair value of performance awards granted under the 2006 Plan during the nine months ended September 30, 2010 and 2009 was $33.61 and $21.55, respectively.

During the nine months ended September 30, 2010, the Company granted 766,500 awards for the three-year performance period commencing in 2010 and ending in 2012, assuming the maximum target level of performance is achieved. The compensation expense associated with all awards granted under the 2006 Plan is amortized ratably over the vesting or performance period based on the Company’s projected assessment of the level of performance that will be achieved and earned. Performance award transactions during the nine months ended September 30, 2010 were as follows and are presented as if the Company were to achieve its maximum target levels of performance under the plan:


Shares awarded but not earned at January 1	1,742,868
Shares awarded	766,500
Shares forfeited or unearned	(108,082	)
Shares earned	—

Shares awarded but not earned at September 30	2,401,286

As of September 30, 2010, the total compensation cost related to unearned performance awards not yet recognized, assuming the Company’s current projected assessment of the level of performance that will be achieved and earned, was approximately $19.6 million, and the weighted average period over which it is expected to be recognized is approximately two years.

During the three and nine months ended September 30, 2010, the Company recorded stock compensation expense of approximately $0.6 million and $1.9 million, respectively, associated with stock settled stock appreciation rights (“SSAR”) awards. During the three and nine months ended September 30, 2009, the Company recorded stock compensation expense of approximately $0.6 million and $1.8 million, respectively, associated with SSAR awards. The Company estimated the fair value of the grants using the Black-Scholes option pricing model. The Company utilized the “simplified” method for estimating the expected term of granted SSARs during the nine months ended September 30, 2010 as afforded by SEC Staff Accounting Bulletin (“SAB”) No. 107, “Share-Based Payment (SAB Topic 14),” and SAB No. 110, “Share-Based Payment (SAB Topic 14.D.2).” The expected term used to value a grant under the simplified method is the mid-point between the vesting date and the contractual term of the SSAR. As the Company has only been granting SSARs since April 2006, it does not believe it has sufficient relevant experience regarding employee exercise behavior. The weighted average grant-date fair value of SSARs granted and the weighted average assumptions under the Black-Scholes option model were as follows for the nine months ended September 30, 2010 and 2009:


	Nine Months Ended September 30,
	2010			2009
Weighted average grant date fair value	$	14.47		$	7.46

Weighted average assumptions under Black-Scholes option model:
Expected life of awards (years)		5.5			5.5
Risk-free interest rate		2.4	%		1.6	%
Expected volatility		48.5	%		45.3	%
Expected dividend yield		—			—

SSAR transactions during the nine months ended September 30, 2010 were as follows:


SSARs outstanding at January 1		716,838
SSARs granted		188,500
SSARs exercised		(28,125	)
SSARs canceled or forfeited		(12,375	)

SSARs outstanding at September 30		864,838


SSAR price ranges per share:
Granted	$	32.01-33.65
Exercised		21.45-37.38
Canceled or forfeited		21.45-66.20

Weighted average SSAR exercise prices per share:
Granted	$	33.58
Exercised		25.96
Canceled or forfeited		35.71
Outstanding at September 30		31.81

At September 30, 2010, the weighted average remaining contractual life of SSARs outstanding was approximately five years. As of September 30, 2010, the total compensation cost related to unvested SSARs not yet recognized was approximately $4.5 million and the weighted-average period over which it is expected to be recognized is approximately three years.

The following table sets forth the exercise price range, number of shares, weighted average exercise price and remaining contractual lives by groups of similar price:


	SSARs Outstanding						SSARs Exercisable
			Weighted Average		Weighted		Exercisable		Weighted
			Remaining		Average		as of		Average
			Contractual Life		Exercise		September 30,		Exercise
Range of Exercise Prices	Number of Shares		(Years)		Price		2010		Price
$21.45 — $24.61		394,250		4.5	$	22.14		189,000	$	22.95
$26.00 — $37.38		367,938		4.9	$	35.19		131,313	$	36.97
$51.82 — $66.20		102,650		4.3	$	56.83		52,450	$	56.83

		864,838						372,763	$	32.66

The total fair value of SSARs vested during the nine months ended September 30, 2010 was $2.1 million. There were 492,075 SSARs that were not vested as of September 30, 2010. The total intrinsic value of outstanding and exercisable SSARs as of September 30, 2010 was $8.1 million and $3.3 million, respectively. The total intrinsic value of SSARs exercised during the nine months ended September 30, 2010 was approximately $0.3 million. The Company realized an insignificant tax benefit from the exercise of these SSARs.

Director Restricted Stock Grants

The 2006 Plan provides for annual restricted stock grants of the Company’s common stock to all non-employee directors. The shares are restricted as to transferability for a period of three years, but are not subject to forfeiture. In the event a director departs from the Company’s Board of Directors, the non-transferability period expires immediately. The plan allows each director to have the option of forfeiting a portion of the shares awarded in lieu of a cash payment contributed to the participant’s tax withholding to satisfy the statutory minimum federal, state and employment taxes that would be payable at the time of grant. The 2010 grant was made on April 22, 2010 and equated to 23,380 shares of common stock, of which 17,303 shares of common stock were issued, after shares were withheld for taxes. The Company recorded stock compensation expense of approximately $0.9 million during the second quarter of 2010 associated with these grants.

As of September 30, 2010, of the 5.0 million shares reserved for issuance under the 2006 Plan, approximately 0.3 million shares were available for grant, assuming the maximum number of shares are earned related to the performance award grants discussed above.

Stock Option Plan

There have been no grants under the Company’s Option Plan since 2002, and the Company does not intend to make any grants under the Option Plan in the future. All of the Company’s outstanding stock options are fully vested. Stock option transactions during the nine months ended September 30, 2010 were as follows:


Options outstanding and exercisable at January 1		52,175
Options granted		—
Options exercised		(12,900	)
Options canceled or forfeited		—

Options outstanding and exercisable at September 30		39,275

Options available for grant at September 30		1,935,437


Option price ranges per share:
Granted	$	—
Exercised		10.06-20.85
Canceled or forfeited		—

Weighted average option exercise prices per share:
Granted	$	—
Exercised		13.03
Canceled or forfeited		—
Outstanding at September 30		15.40

At September 30, 2010, the outstanding and exercisable options had a weighted average remaining contractual life of approximately one year and an aggregate intrinsic value of approximately $0.9 million.

The following table sets forth the exercise price range, number of shares, weighted average exercise price and remaining contractual lives by groups of similar price:

Options Outstanding and Exercisable

as of September 30, 2010

Weighted Average

Weighted

Remaining

Average

Contractual Life

Exercise

Range of Exercise Prices

Number of Shares

(Years)

Price

$11.63 — $20.85

39,275

1.2

15.40

The total intrinsic value of options exercised during the nine months ended September 30, 2010 was approximately $0.3 million. Cash received from stock option exercises was approximately $0.2 million for the nine months ended September 30, 2010. The Company realized an insignificant tax benefit from the exercise of these options.

Goodwill and Other Intangible Assets

9 Months Ended

Sep. 30, 2010

Goodwill and Other Intangible Assets [Abstract]

GOODWILL AND OTHER INTANGIBLE ASSETS

5. GOODWILL AND OTHER INTANGIBLE ASSETS

Changes in the carrying amount of acquired intangible assets during the nine months ended September 30, 2010 are summarized as follows (in millions):


	Trademarks
	and			Customer			Patents and
	Tradenames			Relationships			Technology			Total
Gross carrying amounts:

Balance as of December 31, 2009	$	33.4		$	103.3		$	54.3		$	191.0
Foreign currency translation		(0.1	)		(0.6	)		(2.6	)		(3.3	)

Balance as of September 30, 2010	$	33.3		$	102.7		$	51.7		$	187.7


	Trademarks
	and		Customer			Patents and
	Tradenames		Relationships			Technology			Total
Accumulated amortization:

Balance as of December 31, 2009	$	9.9	$	63.1		$	46.5		$	119.5
Amortization expense		0.8		7.9			5.1			13.8
Foreign currency translation		—		(0.2	)		(2.0	)		(2.2	)

Balance as of September 30, 2010	$	10.7	$	70.8		$	49.6		$	131.1


	Trademarks
	and
	Tradenames
Unamortized intangible assets:

Balance as of December 31, 2009	$	95.3
Foreign currency translation		(1.9	)

Balance as of September 30, 2010	$	93.4

Changes in the carrying amount of goodwill during the nine months ended September 30, 2010 are summarized as follows (in millions):


	North		South		Europe/Africa/			Consolidated
	America		America		Middle East
Balance as of December 31, 2009	$	3.1	$	187.2	$	443.7		$	634.0
Adjustments related to income taxes		—		—		(6.4	)		(6.4	)
Foreign currency translation		—		5.3		(21.0	)		(15.7	)

Balance as of September 30, 2010	$	3.1	$	192.5	$	416.3		$	611.9

Goodwill is tested for impairment on an annual basis and more often if indications of impairment exist. The Company conducts its annual impairment analyses as of October 1 each fiscal year.

The Company amortizes certain acquired intangible assets primarily on a straight-line basis over their estimated useful lives, which range from three to 30 years.

During the nine months ended September 30, 2010, the Company reduced goodwill by approximately $6.4 million related to the realization of tax benefits associated with excess tax basis deductible goodwill resulting from its acquisition of Valtra in Finland.

- Definition

Discloses the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain or loss on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss. This element may be used as a single block of text to include the entire intangible asset disclosure including data and tables.

+ References+ Details

Indebtedness

9 Months Ended

Sep. 30, 2010

Indebtedness [Abstract]

INDEBTEDNESS

6. INDEBTEDNESS

Indebtedness consisted of the following at September 30, 2010 and December 31, 2009 (in millions):


	September 30,			December 31,
	2010			2009
6⁷/₈% Senior subordinated notes due 2014	$	272.8		$	286.5
1³/4% Convertible senior subordinated notes due 2033		162.1			193.0
1¹/4% Convertible senior subordinated notes due 2036		173.3			167.5
Securitization facilities		75.4			—
Other long-term debt		—			0.1

		683.6			647.1
Less: Current portion of long-term debt		—			(0.1	)
1³/4% Convertible senior subordinated notes due 2033		(162.1	)		(193.0	)
Securitization facilities		(75.4	)		—

Total indebtedness, less current portion	$	446.1		$	454.0

The Company’s $201.3 million of 1³/4% convertible senior subordinated notes due December 31, 2033, issued in June 2005, provide for (i) the settlement upon conversion in cash up to the principal amount of the notes with any excess conversion value settled in shares of the Company’s common stock, and (ii) the conversion rate to be increased under certain circumstances if the new notes are converted in connection with certain change of control transactions occurring prior to December 10, 2010. The notes are unsecured obligations and are convertible into cash and shares of the Company’s common stock upon satisfaction of certain conditions. Interest is payable on the notes at 1³/4% per annum, payable semi-annually in arrears in cash on June 30 and December 31 of each year. The notes are convertible into shares of the Company’s common stock at an effective price of $22.36 per share, subject to adjustment. This reflects an initial conversion rate for the notes of 44.7193 shares of common stock per $1,000 principal amount of notes.

The Company’s $201.3 million of 1¹/4% convertible senior subordinated notes due December 15, 2036, issued in December 2006, provide for (i) the settlement upon conversion in cash up to the principal amount of the notes with any excess conversion value settled in shares of the Company’s common stock, and (ii) the conversion rate to be increased under certain circumstances if the notes are converted in connection with certain change of control transactions occurring prior to December 15, 2013. The notes are unsecured obligations and are convertible into cash and shares of the Company’s common stock upon satisfaction of certain conditions. Interest is payable on the notes at 1¹/4% per annum, payable semi-annually in arrears in cash on June 15 and December 15 of each year. The notes are convertible into shares of the Company’s common stock at an effective price of $40.73 per share, subject to adjustment. This reflects an initial conversion rate for the notes of 24.5525 shares of common stock per $1,000 principal amount of notes.

The following table sets forth as of September 30, 2010 and December 31, 2009 the carrying amount of the equity component, the principal amount of the liability component, the unamortized discount and the net carrying amount of the Company’s 1³/4% convertible senior subordinated notes and its 1¹/4% convertible senior subordinated notes (in millions):


	September 30,			December 31,
	2010			2009
1¾% Convertible senior subordinated notes due 2033:
Carrying amount of the equity component	$	18.8		$	39.9


Principal amount of the liability component	$	163.8		$	201.3
Less: unamortized discount		(1.7	)		(8.3	)

Net carrying amount	$	162.1		$	193.0


1¼% Convertible senior subordinated notes due 2036:
Carrying amount of the equity component	$	54.3		$	54.3


Principal amount of the liability component	$	201.3		$	201.3
Less: unamortized discount		(28.0	)		(33.8	)

Net carrying amount	$	173.3		$	167.5

The following table sets forth the interest expense recognized relating to both the contractual interest coupon and the amortization of the discount on the liability component for the 1³/4% convertible senior subordinated notes and 1¹/4% convertible senior subordinated notes (in millions):


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2010		2009		2010		2009
1¾% Convertible senior subordinated notes:
Interest expense	$	2.6	$	2.8	$	8.5	$	8.5


1¼% Convertible senior subordinated notes:
Interest expense	$	2.6	$	2.4	$	7.7	$	7.3

The effective interest rate on the liability component for the 1³/4% convertible senior subordinated notes and the 1¹/4% convertible senior subordinated notes for the three and nine months ended September 30, 2010 and 2009 was 6.1% for both series of notes. The unamortized discount for the 1³/4% convertible senior subordinated notes and the 1¹/4% convertible senior subordinated notes will be amortized through December 2010 and December 2013, respectively, as these are the earliest dates the notes holders can require the Company to repurchase the notes.

Holders of the Company’s 1³/4% convertible senior subordinated notes and its 1¹/4% convertible senior subordinated notes may convert the notes, if, during any fiscal quarter, the closing sales price of the Company’s common stock exceeds 120% of the conversion price of $22.36 per share for the 1³/4% convertible senior subordinated notes and $40.73 per share for the 1¹/4% convertible senior subordinated notes for at least 20 trading days in the 30 consecutive trading days ending on the last trading day of the preceding fiscal quarter. As of September 30, 2010, the closing sales price of the Company’s common stock had exceeded 120% of the conversion price of the 1³/4% convertible senior subordinated notes for at least 20 trading days in the 30 consecutive trading days ending September 30, 2010, and, therefore, the Company classified the notes as a current liability. In accordance with ASU No. 2009-04, “Accounting for Redeemable Equity Instruments,” the Company also classified the equity component of the 1³/4% convertible senior subordinated notes as “temporary equity.” The amount classified as “temporary equity” was measured as the excess of (i) the amount of cash that would be required to be paid upon conversion over (ii) the current carrying amount of the liability-classified component. Future classification of both series of notes between current and long-term debt and classification of the equity component of both notes as “temporary equity” is dependent on the closing sales price of the Company’s common stock during future quarters.

During the third quarter of 2010, the Company repurchased approximately $37.5 million of principal amount of its 1³/4% convertible senior subordinated notes plus accrued interest for approximately $58.1 million. The repurchase included approximately $21.1 million associated with the excess conversion value of the notes and resulted in a loss on extinguishment of approximately $0.2 million reflected in “Interest expense, net.” The Company reflected both the repurchase of the principal and the excess conversion value of the notes totaling $58.1 million within “Repurchase of convertible senior subordinated notes” within the Company’s Condensed Consolidated Statements of Cash Flows for the nine months ended September 30, 2010.

At September 30, 2010, the estimated fair values of the Company’s 6⁷/8% senior subordinated notes, 1³/4% convertible senior subordinated notes and 1¹/4% convertible senior subordinated notes, based on their listed market values, were $275.6 million, $293.2 million and $234.5 million, respectively, compared to their carrying values of $272.8 million, $162.1 million and $173.3 million, respectively. At December 31, 2009, the estimated fair values of the Company’s 6⁷/8% senior subordinated notes, 1³/4% convertible senior subordinated notes and 1¹/4% convertible senior subordinated notes, based on their listed market values, were $272.2 million, $300.8 million and $211.3 million, respectively, compared to their carrying values of $286.5 million, $193.0 million and $167.5 million, respectively.

The Company has arrangements with various banks to issue standby letters of credit or similar instruments, which guarantee the Company’s obligations for the purchase or sale of certain inventories and for potential claims exposure for insurance coverage. At September 30, 2010 and December 31, 2009, outstanding letters of credit issued under the revolving credit facility totaled $9.8 million and $9.3 million, respectively.

Inventories

9 Months Ended

Sep. 30, 2010

Inventories [Abstract]

INVENTORIES

7. INVENTORIES

Inventories at September 30, 2010 and December 31, 2009 were as follows (in millions):


	September 30,		December 31,
	2010		2009
Finished goods	$	595.5	$	480.0
Repair and replacement parts		416.1		383.1
Work in process		122.5		86.3
Raw materials		298.2		207.3

Inventories, net	$	1,432.3	$	1,156.7

Product Warranty

9 Months Ended

Sep. 30, 2010

Product Warranty [Abstract]

PRODUCT WARRANTY

8. PRODUCT WARRANTY

The warranty reserve activity for the three and nine months ended September 30, 2010 and 2009 consisted of the following (in millions):


	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2010			2009			2010			2009
Balance at beginning of period	$	177.9		$	190.4		$	181.6		$	183.4
Accruals for warranties issued during the period		37.6			25.7			106.7			92.4
Settlements made (in cash or in kind) during the period		(35.4	)		(38.6	)		(90.9	)		(101.6	)
Foreign currency translation		12.9			6.3			(4.4	)		9.6

Balance at September 30	$	193.0		$	183.8		$	193.0		$	183.8

The Company’s agricultural equipment products are generally warranted against defects in material and workmanship for a period of one to four years. The Company accrues for future warranty costs at the time of sale primarily based on historical warranty experience. Approximately $169.6 million and $161.8 million of warranty reserves were included in “Accrued expenses” in the Company’s Condensed Consolidated Balance Sheets as of September 30, 2010 and December 31, 2009, respectively. Approximately $23.4 million and $19.8 million of warranty reserves were included in “Other noncurrent liabilities” in the Company’s Condensed Consolidated Balance Sheets as of September 30, 2010 and December 31, 2009, respectively.

Net Income Per Common Share

9 Months Ended

Sep. 30, 2010

Net Income Per Common Share [Abstract]

NET INCOME PER COMMON SHARE

9. NET INCOME PER COMMON SHARE

Basic earnings per common share is computed by dividing net income attributable to AGCO Corporation and its subsidiaries by the weighted average number of common shares outstanding during each period. Diluted earnings per common share assumes exercise of outstanding stock options, vesting of performance share awards, vesting of restricted stock and the appreciation of the excess conversion value of the contingently convertible senior subordinated notes using the treasury stock method when the effects of such assumptions are dilutive. Dilution of weighted shares outstanding will depend on the Company’s stock price for the excess conversion value of the convertible senior subordinated notes using the treasury stock method. A reconciliation of net income attributable to AGCO Corporation and its subsidiaries and weighted average common shares outstanding for purposes of calculating basic and diluted earnings per share for the three and nine months ended September 30, 2010 and 2009 is as follows (in millions, except per share data):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2010		2009		2010		2009
Basic net income per share:
Net income attributable to AGCO Corporation and subsidiaries	$	62.3	$	11.1	$	135.3	$	102.2

Weighted average number of common shares outstanding		92.9		92.3		92.7		92.2


Basic net income per share attributable to AGCO Corporation and subsidiaries	$	0.67	$	0.12	$	1.46	$	1.11


Diluted net income per share:
Net income attributable to AGCO Corporation and subsidiaries for purposes of computing diluted net income per share	$	62.3	$	11.1	$	135.3	$	102.2


Weighted average number of common shares outstanding		92.9		92.3		92.7		92.2
Dilutive stock options, performance share awards and restricted stock awards		0.3		0.2		0.5		0.1
Weighted average assumed conversion of contingently convertible senior subordinated notes		2.6		2.3		2.8		1.2

Weighted average number of common and common equivalent shares outstanding for purposes of computing diluted earnings per share		95.8		94.8		96.0		93.5

Diluted net income per share attributable to AGCO Corporation and subsidiaries	$	0.65	$	0.12	$	1.41	$	1.09

There were SSARs to purchase approximately 0.5 million shares of the Company’s common stock for both the three and nine months ended September 30, 2010 and approximately 0.3 million shares of the Company’s common stock for both the three and nine months ended September 30, 2009 that were excluded from the calculation of diluted earnings per share because they had an antidilutive impact.

Income Taxes	9 Months Ended
Income Taxes	Sep. 30, 2010
Income Taxes [Abstract]
INCOME TAXES	10. INCOME TAXES At September 30, 2010 and December 31, 2009, the Company had approximately $25.5 million and $21.8 million, respectively, of unrecognized tax benefits, all of which would affect the Company’s effective tax rate if recognized. As of September 30, 2010 and December 31, 2009, the Company had approximately $9.9 million and $3.5 million, respectively, of current accrued taxes related to uncertain income tax positions connected with ongoing tax audits in various jurisdictions. The Company accrues interest and penalties related to unrecognized tax benefits in its provision for income taxes. As of September 30, 2010 and December 31, 2009, the Company had accrued interest and penalties related to unrecognized tax benefits of $3.1 million and $1.9 million, respectively. The tax years 2003 through 2009 remain open to examination by taxing authorities in the United States and certain other foreign taxing jurisdictions.

Derivative Instruments and Hedging Activities

9 Months Ended

Sep. 30, 2010

Derivative Instruments and Hedging Activities [Abstract]

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES

11. DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES

All derivatives are recognized on the Company’s Condensed Consolidated Balance Sheets at fair value. On the date the derivative contract is entered into, the Company designates the derivative as either (1) a fair value hedge of a recognized liability, (2) a cash flow hedge of a forecasted transaction, (3) a hedge of a net investment in a foreign operation, or (4) a non-designated derivative instrument.

The Company formally documents all relationships between hedging instruments and hedged items, as well as the risk management objectives and strategy for undertaking various hedge transactions. The Company formally assesses, both at the hedge’s inception and on an ongoing basis, whether the derivatives that are used in hedging transactions are highly effective in offsetting changes in fair values or cash flow of hedged items. When it is determined that a derivative is no longer highly effective as a hedge, hedge accounting is discontinued on a prospective basis.

Foreign Currency Risk

The Company has significant manufacturing operations in the United States, France, Germany, Finland and Brazil, and it purchases a portion of its tractors, combines and components from third-party foreign suppliers, primarily in various European countries and in Japan. The Company also sells products in over 140 countries throughout the world. The Company’s most significant transactional foreign currency exposures are the Euro, Brazilian real and the Canadian dollar in relation to the United States dollar, and the Euro in relation to the British pound.

The Company attempts to manage its transactional foreign exchange exposure by hedging foreign currency cash flow forecasts and commitments arising from the anticipated settlement of receivables and payables and from future purchases and sales. Where naturally offsetting currency positions do not occur, the Company hedges certain, but not all, of its exposures through the use of foreign currency contracts. The Company’s translation exposure resulting from translating the financial statements of foreign subsidiaries into United States dollars is not hedged. When practical, the translation impact is reduced by financing local operations with local borrowings.

The foreign currency contracts are primarily forward and options contracts. These contracts’ fair value measurements fall within the Level 2 fair value hierarchy under ASU 2010-06, “Fair Value Measurements and Disclosures (Topic 820): Improving Disclosures about Fair Value Measurements.” Level 2 fair value measurements are generally based upon quoted market prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-derived valuations in which all significant inputs or significant value-drivers are observable in active markets. The fair value of foreign currency forward contracts is based on a valuation model that discounts cash flows resulting from the differential between the contract price and the market-based forward rate. The fair value of foreign currency option contracts is based on a valuation model that utilizes spot and forward exchange rates, interest rates and currency pair volatility.

The Company’s senior management establishes the Company’s foreign currency and interest rate risk management policies. These policies are reviewed periodically by the Audit Committee of the Company’s Board of Directors. The policy allows for the use of derivative instruments to hedge exposures to movements in foreign currency and interest rates. The Company’s policy prohibits the use of derivative instruments for speculative purposes.

Cash Flow Hedges

During 2010 and 2009, the Company designated certain foreign currency contracts as cash flow hedges of expected future sales and purchases. The effective portion of the fair value gains or losses on these cash flow hedges are recorded in other comprehensive income and subsequently reclassified into cost of goods sold during the period the sales and purchases are recognized. The amount of the loss recorded in other comprehensive income that was reclassified to cost of goods sold during the nine months ended September 30, 2010 and 2009 was approximately $4.3 million and $14.5 million, respectively, on an after-tax basis. The outstanding contracts as of September 30, 2010 range in maturity through December 2010.

The following table summarizes activity in accumulated other comprehensive income related to derivatives held by the Company during the nine months ended September 30, 2010 (in millions):


	Before-
	Tax			Income			After-Tax
	Amount			Tax			Amount
Accumulated derivative net losses as of December 31, 2009	$	(1.4	)	$	(0.1	)	$	(1.3	)
Net changes in fair value of derivatives		(1.2	)		0.6			(1.8	)
Net losses reclassified from accumulated other comprehensive income into income		4.4			0.1			4.3

Accumulated derivative net gains as of September 30, 2010	$	1.8		$	0.6		$	1.2

As of September 30, 2010, the Company had outstanding foreign currency contracts with a notional amount of approximately $125.4 million that were entered into to hedge forecasted sale and purchase transactions.

Derivative Transactions Not Designated as Hedging Instruments

During 2010 and 2009, the Company entered into foreign currency contracts to hedge receivables and payables on the Company and its subsidiaries’ balance sheets that are denominated in foreign currencies other than the functional currency. These contracts were classified as non-designated derivative instruments.

As of September 30, 2010, the Company had outstanding foreign currency contracts with a notional amount of approximately $1,057.5 million that were entered into to hedge receivables and payables that are denominated in foreign currencies other than the functional currency. Changes in the fair value of these contracts are reported in other expense, net. For the three and nine months ended September 30, 2010, the Company recorded a net loss of approximately $20.3 million and a net gain of approximately $23.8 million, respectively, under the caption of “Other expense, net” related to these contracts. For the three and nine months ended September 30, 2009, the Company recorded a net loss of approximately $40.3 million and a net gain of approximately $26.8 million, respectively, related to these forward contracts. Gains and losses on such contracts are substantially offset by losses and gains on the remeasurement of the underlying asset or liability being hedged.

The table below sets forth the fair value of derivative instruments as of September 30, 2010 (in millions):

Asset Derivatives

Liability Derivatives

As of September 30, 2010

Balance Sheet

Fair

Balance Sheet

Fair

Location

Value

Location

Value

Derivative instruments designated as hedging instruments:

Foreign currency contracts

Other current assets

3.4

Other current liabilities

—

Derivative instruments not designated as hedging instruments:

Foreign currency contracts

Other current assets

6.7

Other current liabilities

30.4

Total derivative instruments

10.1

30.4

Counterparty Risk

The Company monitors the counterparty risk and credit ratings of all the counterparties regularly. The Company believes that its exposures are appropriately diversified across counterparties and that these counterparties are creditworthy financial institutions. If the Company perceives any risk with a counterparty, then the Company would cease to do business with that counterparty. There have been no negative impacts to the Company from any non-performance of any counterparties.

Changes in Equity and Comprehensive Income

9 Months Ended

Sep. 30, 2010

Changes in Equity and Comprehensive Income [Abstract]

CHANGES IN EQUITY AND COMPREHENSIVE INCOME

12. CHANGES IN EQUITY AND COMPREHENSIVE INCOME

The following table sets forth changes in equity attributed to AGCO Corporation and its subsidiaries and to noncontrolling interest for the nine months ended September 30, 2010 (in millions):


	AGCO Corporation and subsidiaries
								Accumulated
			Additional					Other
	Common		Paid-in			Retained		Comprehensive			Noncontrolling			Total
	Stock		Capital			Earnings		Loss			Interest			Equity

Balance, December 31, 2009	$	0.9	$	1,061.9		$	1,517.8	$	(187.4	)	$	1.2		$	2,394.4
Stock compensation		—		8.5			—		—			—			8.5
Issuance of performance award stock		—		(11.4	)		—		—			—			(11.4	)
Issuance of common stock		—		0.2			—		—			—			0.2
Repurchase of 1³/4% convertible senior subordinated notes		—		(21.1	)		—		—			—			(21.1	)
Reclassification from temporary equity — Equity component of convertible senior subordinated notes		—		6.6			—		—			—			6.6
Comprehensive income:
Net income (loss)		—		—			135.3		—			(0.3	)		135.0
Other comprehensive income, net of tax:
Foreign currency translation adjustments		—		—			—		9.7			—			9.7
Defined benefit pension plans		—		—			—		4.9			—			4.9
Unrealized gain on derivatives		—		—			—		2.5			—			2.5
Unrealized gain on derivatives held by affiliates		—		—			—		0.2			—			0.2

Balance, September 30, 2010	$	0.9	$	1,044.7		$	1,653.1	$	(170.1	)	$	0.9		$	2,529.5

Total comprehensive income for the three months ended September 30, 2010 and 2009 was as follows (in millions):


	AGCO Corporation and
	subsidiaries				Noncontrolling Interest
	Three Months Ended				Three Months Ended
	September 30,				September 30,
	2010		2009		2010			2009
Net income (loss)	$	62.3	$	11.1	$	(0.1	)	$	—
Other comprehensive income, net of tax:
Foreign currency translation adjustments		160.8		88.7		0.1			0.1
Defined benefit pension plans		1.6		1.4		—			—
Unrealized gain on derivatives		8.7		4.6		—			—
Unrealized gain on derivatives held by affiliates		—		0.1		—			—

Total comprehensive income	$	233.4	$	105.9	$	—		$	0.1

Total comprehensive income for the nine months ended September 30, 2010 and 2009 was as follows (in millions):


	AGCO Corporation and
	subsidiaries				Noncontrolling Interest
	Nine Months Ended				Nine Months Ended
	September 30,				September 30,
	2010		2009		2010			2009
Net income (loss)	$	135.3	$	102.2	$	(0.3	)	$	—
Other comprehensive income, net of tax:
Foreign currency translation adjustments		9.7		287.1		—			0.2
Defined benefit pension plans		4.9		4.0		—			—
Unrealized gain on derivatives		2.5		36.6		—			—
Unrealized gain on derivatives held by affiliates		0.2		0.9		—			—

Total comprehensive income	$	152.6	$	430.8	$	(0.3	)	$	0.2

- Definition

Disclosures related to accounts comprising shareholders' equity, including other comprehensive income. Includes: (1) balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings; (2) accumulated balance for each classification of other comprehensive income and total amount of comprehensive income; (3) amount and nature of changes in separate accounts, including the number of shares authorized and outstanding, number of shares issued upon exercise and conversion, and for other comprehensive income, the adjustments for reclassifications to net income; (4) rights and privileges of each class of stock authorized; (5) basis of treasury stock, if other than cost, and amounts paid and accounting treatment for treasury stock purchased significantly in excess of market; (6) dividends paid or payable per share and in the aggregate for each class of stock for each period presented; (7) dividend restrictions and accumulated preferred dividends in arrears (in aggregate and per share amount); (8) retained earnings appropriations or restrictions, such as dividend restrictions; (9) impact of change in accounting principle, initial adoption of new accounting principle and correction of an error in previously issued financial statements; (10) shares held in trust for Employee Stock Ownership Plan (ESOP); (11) deferred compensation related to issuance of capital stock; (12) note received for issuance of stock; (13) unamortized discount on shares; (14) description, terms and number of warrants or rights outstanding; (15) shares under subscription and subscription receivables; effective date of new retained earnings after quasi-reorganization and deficit eliminated by quasi-reorganization and, for a period of at least ten years after the effective date, the point in time from which the new retained dates; and (16) retroactive effective of subsequent change in capital structure.

+ References+ Details

Accounts Receivable Sales Agreements and Securitization Facilities	9 Months Ended
	Sep. 30, 2010
Accounts Receivable Sales Agreements and Securitization Facilities [Abstract]
ACCOUNTS RECEIVABLE SALES AGREEMENTS AND SECURITIZATION FACILITIES	13. ACCOUNTS RECEIVABLE SALES AGREEMENTS AND SECURITIZATION FACILITIES At September 30, 2010, the Company had accounts receivable securitization facilities in Europe totaling approximately €110.0 million (or approximately $150.1 million). As of September 30, 2010, the Company’s accounts receivable securitization facilities had outstanding funding of approximately €55.3 million (or approximately $75.4 million). The Company amended its European securitization facilities to decrease the total size of the facilities by €30.0 million during the third quarter of 2010. The facilities expire in October 2011, and are subject to annual renewal. Wholesale accounts receivable are sold on a revolving basis to commercial paper conduits under the facilities through a wholly-owned QSPE in the United Kingdom. As previously discussed in Note 1, on January 1, 2010, the Company adopted the provisions of ASU 2009-16, and, in accordance with the standard, the Company recognized approximately $75.4 million of accounts receivable sold through its European securitization facilities within the Company’s Condensed Consolidated Balance Sheets as of September 30, 2010, with a corresponding liability equivalent to the funded balance of the facility. The accrued interest owed to the commercial paper conduits associated with outstanding funding under the European facilities was approximately $0.1 million as of September 30, 2010. Losses on sales of receivables under the European securitization facilities were reflected within “Interest expense, net” in the Company’s Condensed Consolidated Statements of Operations. At September 30, 2010, the Company had accounts receivable sales agreements that permit the sale, on an ongoing basis, of substantially all of its wholesale interest-bearing and non-interest bearing receivables in North America to AGCO Finance LLC and AGCO Finance Canada, Ltd., its 49% owned U.S. and Canadian retail finance joint ventures. The Company does not service the receivables after the sale occurs and does not maintain any direct retained interest in the receivables. The Company reviewed its accounting for the accounts receivable sales agreements in accordance with ASU 2009-16 and determined that these facilities should be accounted for as off-balance sheet transactions. As of September 30, 2010, net cash received from receivables sold under the U.S. and Canadian accounts receivable sales agreements was approximately $443.5 million. For the three and nine months ended September 30, 2010, the Company paid AGCO Finance LLC and AGCO Finance Canada, Ltd. both a servicing fee related to the servicing of the sold receivables and a subsidized interest payment. These fees were reflected within losses on the sales of receivables included within “Other expense, net” in the Company’s Condensed Consolidated Statements of Operations. The subsidized interest payment was calculated based upon LIBOR plus a margin on any non-interest bearing accounts receivable outstanding and sold under the facilities. The Company’s AGCO Finance retail finance joint ventures in Europe, Brazil and Australia also provide wholesale financing to the Company’s dealers. The receivables associated with these arrangements are without recourse to the Company. The Company does not service the receivables after the sale occurs and does not maintain any direct retained interest in the receivables. As of September 30, 2010 and December 31, 2009, these retail finance joint ventures had approximately $178.9 million and $176.9 million, respectively, of outstanding accounts receivable associated with these arrangements. The Company reviewed its accounting for these arrangements in accordance with ASU 2009-16 and determined that these arrangements should be accounted for as off-balance sheet transactions. In addition, the Company sells certain trade receivables under factoring arrangements to other financial institutions around the world. The Company reviewed the sale of such receivables pursuant to the guidelines of ASU 2009-16 and determined that these arrangements should be accounted for as off-balance sheet transactions. Losses on sales of receivables associated with the accounts receivable financing facilities discussed above, reflected within “Other expense, net” and “Interest expense, net” in the Company’s Condensed Consolidated Statements of Operations, were approximately $3.9 million and $11.5 million during the three and nine months ended September 30, 2010, respectively. Losses on sales of receivables primarily from the Company’s European securitization facilities and former U.S. and Canadian securitization facilities were approximately $1.5 million and $11.7 million during the three and nine months ended September 30, 2009, respectively. The losses during the three and nine months ended September 30, 2009 were determined by calculating the estimated present value of receivables sold compared to their carrying amount. The present value was based on historical collection experience and a discount rate representing the spread over LIBOR as prescribed under the terms of the agreements.

Employee Benefit Plans

9 Months Ended

Sep. 30, 2010

Employee Benefit Plans [Abstract]

EMPLOYEE BENEFIT PLANS

14. EMPLOYEE BENEFIT PLANS

Net pension and postretirement cost for the Company’s defined pension and postretirement benefit plans for the three months ended September 30, 2010 and 2009 are set forth below (in millions):


	Three Months Ended
	September 30,
	2010			2009
Pension benefits

Service cost	$	4.3		$	2.5
Interest cost		10.3			8.8
Expected return on plan assets		(8.5	)		(6.9	)
Amortization of net actuarial loss and prior service cost		6.5			1.2

Net pension cost	$	12.6		$	5.6


Postretirement benefits

Interest cost	$	0.4			0.4
Amortization of prior service cost		(0.1	)		—
Amortization of unrecognized net loss		0.1			0.1

Net postretirement cost	$	0.4		$	0.5

Net pension and postretirement cost for the Company’s defined pension and postretirement benefit plans for the nine months ended September 30, 2010 and 2009 are set forth below (in millions):


	Nine Months Ended
	September 30,
	2010			2009
Pension benefits
Service cost	$	13.0		$	7.4
Interest cost		30.8			26.4
Expected return on plan assets		(25.6	)		(20.7	)
Amortization of net actuarial loss and prior service cost		11.0			3.8

Net pension cost	$	29.2		$	16.9


Postretirement benefits

Service cost	$	0.1		$	0.1
Interest cost		1.1			1.2
Amortization of prior service cost		(0.2	)		(0.2	)
Amortization of unrecognized net loss		0.2			0.3

Net postretirement cost	$	1.2		$	1.4

During the nine months ended September 30, 2010, the Company made approximately $25.7 million of contributions to its defined benefit pension plans. The Company currently estimates its minimum contributions for 2010 to its defined benefit pension plans will aggregate approximately $34.4 million.

During the nine months ended September 30, 2010, the Company made approximately $1.0 million of contributions to its U.S.-based postretirement health care and life insurance benefit plans. The Company currently estimates that it will make approximately $1.8 million of contributions to its U.S.-based postretirement health care and life insurance benefit plans during 2010.

In March 2010, the Patient Protection and Affordable Care Act and the Health Care and Education Reconciliation Act of 2010 (collectively, the “Acts”) were signed into law in the United States. The Company is currently evaluating the provisions of the Acts to determine their potential impact to the Company’s health care benefit costs. The impact of the Acts to the Company’s U.S.- based postretirement health care benefit plans and related obligations is not currently expected to be material. The Acts contain a provision that repeals the tax deductibility and benefit for the Medicare Part D subsidy available to companies that provide qualifying prescription drug coverage to retirees. This provision had no impact to the Company’s results of operations or financial position as the Company had previously provided a full valuation allowance against deferred tax assets associated with its U.S.-based postretirement benefit obligations.

- Definition

Description containing the entire pension and other postretirement benefits disclosure as a single block of text.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 158

-Paragraph 7, 21, 22

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 132R

-Paragraph 5, 6, 7, 8

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 132R

-Paragraph 8

-Subparagraph m

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 106

-Paragraph 518

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 87

-Paragraph 264

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 132R

-Paragraph 5

-Subparagraph b

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 132R

-Paragraph 5

-Subparagraph a

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 132R

-Paragraph 5

-Subparagraph h

Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 132R

-Paragraph 5

-Subparagraph q

Reference 10: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name FASB Staff Position (FSP)

-Number FAS106-2

-Paragraph 20, 21, 22

Reference 11: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Emerging Issues Task Force (EITF)

-Number 03-2

-Paragraph 8

Reference 12: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Principles Board Opinion (APB)

-Number 30

-Paragraph 26

Reference 13: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Implementation Guide (Q and A)

-Number FAS88

-Paragraph 63

+ Details

Segment Reporting

9 Months Ended

Sep. 30, 2010

Segment Reporting [Abstract]

SEGMENT REPORTING

15. SEGMENT REPORTING

Effective January 1, 2010, the Company modified its system of reporting, resulting from changes to its internal management and organizational structure over the past year, which changed its reportable segments from North America; South America; Europe/Africa/Middle East; and Asia/Pacific to North America; South America; Europe/Africa/Middle East; and Rest of World. The Rest of World reportable segment includes the regions of Eastern Europe, Asia, Australia and New Zealand, and the Europe/Africa/ Middle East segment no longer includes certain markets in Eastern Europe. Effective January 1, 2010, these reportable segments are reflective of how the Company’s chief operating decision maker reviews operating results for the purposes of allocating resources and assessing performance. Disclosures for the three and nine months ended September 30, 2009 have been adjusted to reflect the change in reportable segments.

The Company’s four reportable segments distribute a full range of agricultural equipment and related replacement parts. The Company evaluates segment performance primarily based on income from operations. Sales for each segment are based on the location of the third-party customer. The Company’s selling, general and administrative expenses and engineering expenses are charged to each segment based on the region and division where the expenses are incurred. As a result, the components of income from operations for one segment may not be comparable to another segment. Segment results for the three and nine months ended September 30, 2010 and 2009 and assets as of September 30, 2010 and December 31, 2009 are as follows (in millions):


Three Months Ended	North			South		Europe/Africa/		Rest of
September 30,	America			America		Middle East		World		Consolidated
2010
Net sales	$	373.4		$	487.7	$	708.7	$	87.6	$	1,657.4
Income from operations		11.9			54.1		33.3		3.0		102.3
Depreciation		6.3			4.9		20.5		1.2		32.9
Capital expenditures		6.9			3.2		25.5		1.9		37.5

2009
Net sales	$	292.1		$	331.6	$	690.5	$	75.3	$	1,389.5
(Loss) income from operations		(2.8	)		22.9		29.8		7.9		57.8
Depreciation		5.9			4.1		19.7		0.7		30.4
Capital expenditures		6.4			3.9		34.5		0.3		45.1

Nine Months Ended	North			South		Europe/Africa/		Rest of
September 30,	America			America		Middle East		World		Consolidated
2010
Net sales	$	1,026.4		$	1,313.2	$	2,178.9	$	210.1	$	4,728.6
Income from operations		14.6			138.7		94.7		9.6		257.6
Depreciation		18.1			14.2		62.4		3.0		97.7
Capital expenditures		12.0			7.8		61.0		2.0		82.8

2009
Net sales	$	1,131.2		$	738.0	$	2,610.9	$	209.1	$	4,689.2
Income from operations		27.0			29.3		185.9		15.7		257.9
Depreciation		17.8			10.9		52.9		2.0		83.6
Capital expenditures		21.7			20.3		99.6		1.3		142.9

Assets
As of September 30, 2010	$	624.2		$	666.6	$	1,585.8	$	196.4	$	3,073.0
As of December 31, 2009		583.9			515.1		1,419.2		203.3		2,721.5

A reconciliation from the segment information to the consolidated balances for income from operations and total assets is set forth below (in millions):


	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2010			2009			2010			2009
Segment income from operations	$	102.3		$	57.8		$	257.6		$	257.9
Corporate expenses		(17.2	)		(13.7	)		(50.5	)		(58.9	)
Stock compensation expense		(3.0	)		(2.8	)		(8.2	)		(11.0	)
Restructuring and other infrequent expenses		(1.2	)		(1.0	)		(3.3	)		(3.8	)
Amortization of intangibles		(5.0	)		(4.6	)		(13.8	)		(13.3	)

Consolidated income from operations	$	75.9		$	35.7		$	181.8		$	170.9


	As of		As of
	September 30,		December
	2010		31, 2009
Segment assets	$	3,073.0	$	2,721.5
Cash and cash equivalents		459.2		651.4
Receivables from affiliates		96.7		70.4
Investments in affiliates		378.4		353.9
Deferred tax assets		153.2		133.6
Other current and noncurrent assets		299.3		267.3
Intangible assets, net		150.0		166.8
Goodwill		611.9		634.0

Consolidated total assets	$	5,221.7	$	4,998.9

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Sep. 30, 2010
Commitments and Contingencies [Abstract]
COMMITMENTS AND CONTINGENCIES	16. COMMITMENTS AND CONTINGENCIES *Off-Balance Sheet Arrangements* Guarantees The Company maintains a remarketing agreement with its U.S. retail finance joint venture, AGCO Finance LLC, whereby the Company is obligated to repurchase repossessed inventory at market values. The Company has an agreement with AGCO Finance LLC which limits the Company’s purchase obligations under this arrangement to $6.0 million in the aggregate per calendar year. The Company believes that any losses that might be incurred on the resale of this equipment will not materially impact the Company’s financial position or results of operations, due to the fair value of the underlying equipment. At September 30, 2010, the Company guaranteed indebtedness owed to third parties of approximately $95.0 million, primarily related to dealer and end-user financing of equipment. Such guarantees generally obligate the Company to repay outstanding finance obligations owed to financial institutions if dealers or end users default on such loans through 2015. The Company believes the credit risk associated with these guarantees is not material to its financial position or results of operations. Losses under such guarantees have historically been insignificant. In addition, the Company generally would be able to recover any amounts paid under such guarantees from the sale of the underlying financed farm equipment, as the fair value of such equipment would be sufficient to offset a substantial portion of the amounts paid. Other The Company sells substantially all of its wholesale accounts receivable in North America to the Company’s U.S. and Canadian retail finance joint ventures. The Company also sells certain accounts receivable under factoring arrangements to financial institutions around the world. The Company reviewed the sale of such receivables pursuant to the guidelines of ASU 2009-16 and determined that these facilities should be accounted for as off-balance sheet transactions. *Legal Claims and Other Matters* As a result of Brazilian tax legislation impacting value added taxes (“VAT”), the Company recorded a reserve of approximately $7.4 million and $11.6 million against its outstanding balance of Brazilian VAT taxes receivable as of September 30, 2010 and December 31, 2009, respectively, due to the uncertainty of the Company’s ability to collect the amounts outstanding. On June 27, 2008, the Republic of Iraq filed a civil action in a federal court in New York, Case No. 08 CIV 59617, naming as defendants the Company’s French subsidiary and two of its other foreign subsidiaries that participated in the United Nations Oil for Food Program (the “Program”). Ninety-one other entities or companies also were named as defendants in the civil action due to their participation in the Program. The complaint purports to assert claims against each of the defendants seeking damages in an unspecified amount. Although the Company’s subsidiaries intend to vigorously defend against this action, it is not possible at this time to predict the outcome of this action or its impact, if any, on the Company, although if the outcome was adverse, the Company could be required to pay damages. In addition, the French government also is investigating the Company’s French subsidiary in connection with its participation in the Program. In August 2008, as part of a routine audit, the Brazilian taxing authorities disallowed deductions relating to the amortization of certain goodwill recognized in connection with a reorganization of the Company’s Brazilian operations and the related transfer of certain assets to the Company’s Brazilian subsidiaries. The amount of the tax disallowance through September 30, 2010, not including interest and penalties, was approximately 90.6 million Brazilian reais (or approximately $53.4 million). The amount ultimately in dispute will be greater because of interest, penalties and future deductions. The Company has been advised by its legal and tax advisors that its position with respect to the deductions is allowable under the tax laws of Brazil. The Company is contesting the disallowance and believes that it is not likely that the assessment, interest or penalties will be required to be paid. However, the ultimate outcome will not be determined until the Brazilian tax appeal process is complete, which could take several years. The Company is a party to various other legal claims and actions incidental to its business. The Company believes that none of these claims or actions, either individually or in the aggregate, is material to its business or financial condition.