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Net losses reclassified from accumulated other comprehensive loss into income

^[1]

(1.4)

(3.1)

^[1]

1.5

0.5

8.1

Foreign currency translation adjustments

(349.3)

(87.2)

(62.7)

Other comprehensive loss, net of reclassification adjustments

(396.1)

(31.6)

(80.4)

Comprehensive income

8.1

560.7

436.0

Comprehensive loss attributable to noncontrolling interests

6.5

5.2

7.3

Comprehensive income attributable to AGCO Corporation and subsidiaries

$ 14.6

$ 565.9

$ 443.3

[1]	Rounding may impact summation of amounts.

Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2014	Dec. 31, 2013
Current Assets:
Cash and cash equivalents	$ 363.7	$ 1,047.2
Accounts and notes receivable, net	963.8	940.6
Inventories, net	1,750.7	2,016.1
Deferred tax assets	217.2	241.2
Other current assets	232.5	272.0
Total current assets	3,527.9	4,517.1
Property, plant and equipment, net	1,530.4	1,602.3
Investment in affiliates	424.1	416.1
Deferred tax assets	25.8	24.4
Other assets	141.1	134.6
Intangible assets, net	553.8	565.6
Goodwill	1,192.8	1,178.7
Total assets	7,395.9	8,438.8
Current Liabilities:
Current portion of long-term debt	94.3	110.5
Convertible senior subordinated notes	0.0	201.2
Accounts payable	670.2	960.3
Accrued expenses	1,244.1	1,389.2
Other current liabilities	208.3	150.8
Total current liabilities	2,216.9	2,812.0
Long-term debt, less current portion	997.6	938.5
Pensions and postretirement health care benefits	269.0	246.4
Deferred tax liabilities	238.8	251.2
Other noncurrent liabilities	176.7	145.9
Total liabilities	3,899.0	4,394.0
Commitments and contingencies (Note 12)
AGCO Corporation stockholders’ equity:
Preferred stock; $0.01 par value, 1,000,000 shares authorized, no shares issued or outstanding in 2014 and 2013	0.0	0.0
Common stock; $0.01 par value, 150,000,000 shares authorized, 89,146,093 and 97,362,466 shares issued and outstanding at December 31, 2014 and 2013, respectively	0.9	1.0
Additional paid-in capital	582.5	1,117.9
Retained earnings	3,771.6	3,402.0
Accumulated other comprehensive loss	(906.5)	(510.7)
Total AGCO Corporation stockholders’ equity	3,448.5	4,010.2
Noncontrolling interests	48.4	34.6
Total stockholders’ equity	3,496.9	4,044.8
Total liabilities and stockholders’ equity	$ 7,395.9	$ 8,438.8

Consolidated Balance Sheets Parenthetical - $ / shares	Dec. 31, 2014	Dec. 31, 2013
Statement of Financial Position [Abstract]
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	150,000,000	150,000,000
Common stock, shares issued	89,146,093	97,362,466
Common stock, shares outstanding	89,146,093	97,362,466
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

Consolidated Statements of Stockholders' Equity - USD ($) $ in Millions	Total	Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Loss	Pension Benefits	Cumulative Translation Adjustment	Deferred Gains (Losses) on Derivatives	Noncontrolling Interests	Temporary Equity
Beginning Balance Shares at Dec. 31, 2011		97,194,732
Stockholders' Equity Attributable to Parent, Beginning of Period at Dec. 31, 2011		$ 1.0	$ 1,073.2	$ 2,321.6	$ (400.6)	$ (240.2)	$ (156.1)	$ (4.3)
Noncontrolling interests, Beginning of Period at Dec. 31, 2011									$ 36.0
Beginning Balance at Dec. 31, 2011	$ 3,031.2
Temporary equity, Beginning of Period at Dec. 31, 2011	0.0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income attributable to AGCO Corporation and subsidiaries	522.1			522.1
Net Income (Loss) Attributable to Nonredeemable Noncontrolling Interest									3.0
Net income (loss)	525.1
Net income (loss) attributable to noncontrolling interest										$ (8.7)
Issuance of restricted stock, shares		13,986
Issuance of restricted stock	1.0		1.0
Stock options and SSARs exercised, shares		16,287
Stock options and SSARs exercised	(0.3)		(0.3)
Stock compensation	35.8		35.8
Investments by redeemable noncontrolling interest										17.6
Distribution to noncontrolling interest	(1.7)								(1.7)
Changes in noncontrolling interest	$ (4.0)								(4.0)
Purchases and retirement of common stock, shares	(409,007)	(409,007)
Purchases and retirement of common stock	$ (17.6)		(17.6)
Defined benefit pension plans, net of taxes:
Net loss recognized due to settlement	0.0
Net gain recognized due to curtailment	0.0
Prior service cost arising during year	(2.5)				(2.5)	(2.5)
Net actuarial (loss) gain arising during year	(28.2)				(28.2)	(28.2)
Amortization of prior service cost included in net periodic pension cost	0.4				0.4	0.4
Amortization of net actuarial losses included in net periodic pension cost	7.6				7.6	7.6
Deferred gains and losses on derivatives, net	5.0				5.0			5.0
Reclassification To Temporary Equity [Abstract]
Reclassification to/from temporary equity - Equity component of convertible senior subordinated notes	(9.2)		(9.2)							9.2
Change in cumulative translation adjustment					(61.1)		(61.1)
Change in cumulative translation adjustment	(61.1)
Foreign currency translation adjustments	(62.7)								(1.6)	(1.6)
Ending Balance Shares at Dec. 31, 2012		96,815,998
Stockholders' Equity Attributable to Parent, End of Period at Dec. 31, 2012		$ 1.0	1,082.9	2,843.7	(479.4)	(262.9)	(217.2)	0.7
Noncontrolling interests, End of Period at Dec. 31, 2012									33.3
Ending Balance at Dec. 31, 2012	3,481.5
Temporary equity, End of Period at Dec. 31, 2012	16.5
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income attributable to AGCO Corporation and subsidiaries	597.2			597.2
Net Income (Loss) Attributable to Nonredeemable Noncontrolling Interest									4.4
Net income (loss)	601.6
Net income (loss) attributable to noncontrolling interest										(9.3)
Payment of dividends to shareholders	(38.9)			(38.9)
Issuance of restricted stock, shares		12,059
Issuance of restricted stock	0.6		0.6
Issuance of performance award stock, shares		491,692
Issuance of performance award stock	(14.7)		(14.7)
SSARs exercised, shares		61,941
SSARs exercised	(2.2)		(2.2)
Stock compensation	34.0		34.0
Excess tax benefit of stock awards	11.4		11.4
Debt conversion, shares issued		286
Distribution to noncontrolling interest	(3.1)								(3.1)
Changes in noncontrolling interest	$ (2.3)		(2.3)							2.3
Purchases and retirement of common stock, shares	(100,000.0)	(19,510)
Purchases and retirement of common stock	$ (1.0)		(1.0)
Defined benefit pension plans, net of taxes:
Net loss recognized due to settlement	0.0
Net gain recognized due to curtailment	0.0
Prior service cost arising during year	0.0
Net actuarial (loss) gain arising during year	45.2				45.2	45.2
Amortization of prior service cost included in net periodic pension cost	0.6				0.6	0.6
Amortization of net actuarial losses included in net periodic pension cost	10.7				10.7	10.7
Deferred gains and losses on derivatives, net	(0.9)				(0.9)			(0.9)
Reclassification To Temporary Equity [Abstract]
Reclassification to/from temporary equity - Equity component of convertible senior subordinated notes	9.2		9.2							(9.2)
Change in cumulative translation adjustment					(86.9)		(86.9)
Change in cumulative translation adjustment	(86.9)
Foreign currency translation adjustments	(87.2)								(0.3)	(0.3)
Ending Balance Shares at Dec. 31, 2013		97,362,466
Stockholders' Equity Attributable to Parent, End of Period at Dec. 31, 2013	4,010.2	$ 1.0	1,117.9	3,402.0	(510.7)	(206.4)	(304.1)	(0.2)
Noncontrolling interests, End of Period at Dec. 31, 2013	34.6								34.6
Ending Balance at Dec. 31, 2013	4,044.8
Temporary equity, End of Period at Dec. 31, 2013	0.0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income attributable to AGCO Corporation and subsidiaries	410.4			410.4
Net Income (Loss) Attributable to Nonredeemable Noncontrolling Interest									0.1
Net income (loss)	410.5
Net income (loss) attributable to noncontrolling interest										(6.3)
Payment of dividends to shareholders	(40.8)			(40.8)
Issuance of restricted stock, shares		14,907
Issuance of restricted stock	0.9		0.9
Issuance of performance award stock, shares		367,100
Issuance of performance award stock	(11.8)		(11.8)
SSARs exercised, shares		30,477
SSARs exercised	(1.2)		(1.2)
Stock compensation	(11.7)		(11.7)
Shortfall in tax benefit of stock awards	(0.2)		(0.2)
Debt conversion, shares issued		1,437,465
Investment by noncontrolling interest	16.1								16.1
Distribution to noncontrolling interest	(2.4)								(2.4)
Changes in noncontrolling interest	$ (11.8)		(11.8)							6.6
Purchases and retirement of common stock, shares	(1,818,139)	(10,066,322)
Purchases and retirement of common stock	$ (499.7)	$ 0.1	(499.6)
Defined benefit pension plans, net of taxes:
Net loss recognized due to settlement	0.4				0.4	0.4
Net gain recognized due to curtailment	(0.4)				(0.4)	(0.4)
Prior service cost arising during year	0.0
Net actuarial (loss) gain arising during year	(54.8)				(54.8)	(54.8)
Amortization of prior service cost included in net periodic pension cost	0.6				0.6	0.6
Amortization of net actuarial losses included in net periodic pension cost	7.3				7.3	7.3
Deferred gains and losses on derivatives, net	0.1				0.1			0.1
Reclassification To Temporary Equity [Abstract]
Change in cumulative translation adjustment					(349.0)		(349.0)
Change in cumulative translation adjustment	(349.0)
Foreign currency translation adjustments	(349.3)								(0.3)	$ (0.3)
Ending Balance Shares at Dec. 31, 2014		89,146,093
Stockholders' Equity Attributable to Parent, End of Period at Dec. 31, 2014	3,448.5	$ 0.9	$ 582.5	$ 3,771.6	$ (906.5)	$ (253.3)	$ (653.1)	$ (0.1)
Noncontrolling interests, End of Period at Dec. 31, 2014	48.4								$ 48.4
Ending Balance at Dec. 31, 2014	3,496.9
Temporary equity, End of Period at Dec. 31, 2014	$ 0.0

Consolidated Statements of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Cash flows from operating activities:
Net income	$ 404.2	$ 592.3	$ 516.4
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	239.4	211.6	180.6
Deferred debt issuance cost amortization	2.7	3.5	3.5
Impairment charge	0.0	0.0	22.4
Amortization of intangibles	41.0	47.8	49.3
Amortization of debt discount	0.0	9.2	8.7
Stock compensation (credit) expense	(10.8)	34.6	36.8
Equity in net earnings of affiliates, net of cash received	(25.4)	(19.0)	(25.7)
Deferred income tax provision (benefit)	3.6	21.7	(36.4)
Other	2.5	0.3	0.6
Changes in operating assets and liabilities, net of effects from purchase of businesses:
Accounts and notes receivable, net	(103.9)	(36.2)	40.6
Inventories, net	111.4	(356.9)	(160.9)
Other current and noncurrent assets	29.1	7.0	(71.8)
Accounts payable	(219.4)	54.7	(61.7)
Accrued expenses	(71.2)	123.4	154.5
Other current and noncurrent liabilities	35.2	103.0	9.5
Total adjustments	34.2	204.7	150.0
Net cash provided by operating activities	438.4	797.0	666.4
Cash flows from investing activities:
Purchases of property, plant and equipment	(301.5)	(391.8)	(340.5)
Proceeds from sale of property, plant and equipment	2.8	2.6	0.9
Purchase of businesses, net of cash acquired	(130.3)	(9.5)	(2.9)
Investments in consolidated affiliates, net of cash acquired	0.0	0.0	(20.1)
Investments in unconsolidated affiliates	(3.9)	(10.0)	(15.8)
Restricted cash and other	0.0	0.0	3.7
Net cash used in investing activities	(432.9)	(408.7)	(374.7)
Cash flows from financing activities:
Proceeds from debt obligations	1,689.4	1,135.9	926.3
Repayments of debt obligations	(1,588.8)	(1,194.0)	(1,148.8)
Purchases and retirement of common stock	(499.7)	(1.0)	(17.6)
Repurchase or conversion of convertible senior subordinated notes	(201.2)	0.0	0.0
Payment of dividends to stockholders	(40.8)	(38.9)	0.0
Payment of minimum tax withholdings on stock compensation	(13.2)	(17.0)	(0.3)
Purchase of or distribution to noncontrolling interests	(6.1)	(3.1)	(1.0)
Payment of debt issuance costs	(1.4)	(0.1)	(0.2)
Excess tax benefit related to stock compensation	0.0	11.4	0.0
Other	(0.2)	0.0	0.0
Net cash used in financing activities	(662.0)	(106.8)	(241.6)
Effects of exchange rate changes on cash and cash equivalents	(27.0)	(15.6)	6.8
(Decrease) increase in cash and cash equivalents	(683.5)	265.9	56.9
Cash and cash equivalents, beginning of period	1,047.2	781.3	724.4
Cash and cash equivalents, end of period	$ 363.7	$ 1,047.2	$ 781.3

Operations and Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2014

Operations and Summary of Significant Accounting Policies [Abstract]

Operations and Summary of Significant Accounting Policies

Business

AGCO Corporation and subsidiaries (“AGCO” or the “Company”) is a leading manufacturer and distributor of agricultural equipment and related replacement parts throughout the world. The Company sells a full range of agricultural equipment, including tractors, combines, hay tools, sprayers, forage equipment, tillage, implements, and grain storage and protein production systems. The Company’s products are widely recognized in the agricultural equipment industry and are marketed under a number of well-known brand names including: Challenger^®, Fendt^®, GSI^®,Massey Ferguson^®, and Valtra^®. The Company distributes most of its products through a combination of approximately 3,100 independent dealers and distributors as well as the Company utilizes associates and licensees to provide a distribution channel for its products. In addition, the Company provides retail financing through its finance joint ventures with Coöperatieve Centrale Raiffeisen-Boerenleenbank B.A., or “Rabobank.”

Basis of Presentation and Consolidation

The Company’s Consolidated Financial Statements represent the consolidation of all wholly-owned companies, majority-owned companies and joint ventures where the Company has been determined to be the primary beneficiary. The Company consolidates a variable interest entity (“VIE”) if the Company determines it is the primary beneficiary. The primary beneficiary of a VIE is the party that has both the power to direct the activities that most significantly impact the entity’s economic performance and the obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIE. The Company also consolidates all entities that are not considered VIEs if it is determined that it has a controlling voting interest to direct the activities that most significantly impact the joint venture or entity. The Company records investments in all other affiliate companies using the equity method of accounting when it has significant influence. Other investments, including those representing an ownership of less than 20%, are recorded at cost. All significant intercompany balances and transactions have been eliminated in the Consolidated Financial Statements. Certain prior period amounts have been reclassified to conform to the current period presentation.

Use of Estimates

The preparation of financial statements in conformity with U.S. generally accepted accounting principles (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The estimates made by management primarily relate to accounts and notes receivable, inventories, deferred income tax valuation allowances, goodwill and other identifiable intangible assets, and certain accrued liabilities, principally relating to reserves for volume discounts and sales incentives, warranty obligations, product liability and workers’ compensation obligations, and pensions and postretirement benefits.

Revenue Recognition

Sales of equipment and replacement parts are recorded by the Company when title and risks of ownership have been transferred to an independent dealer, distributor or other customer. In certain countries, sales of certain grain storage and protein production systems where the Company is responsible for construction or installation and may be contingent upon customer acceptance, are recorded at the completion of the project. Payment terms vary by market and product, with fixed payment schedules on all sales. The terms of sale generally require that a purchase order or order confirmation accompany all shipments. Title generally passes to the dealer or distributor upon shipment or specified delivery, and the risk of loss upon damage, theft or destruction of the equipment is the responsibility of the dealer, distributor or third-party carrier at the point of the stated shipping or delivery term. In certain foreign countries, the Company retains a form of title to goods delivered to dealers until the dealer makes payment so that the Company can recover the goods in the event of customer default on payment. This occurs as the laws of some foreign countries do not provide for a seller’s retention of a security interest in goods in the same manner as established in the United States Uniform Commercial Code. The only right the Company retains with respect to the title is that enabling recovery of the goods in the event of customer default on payment. The dealer or distributor may not return equipment or replacement parts while its contract with the Company is in force. Replacement parts may be returned only under promotional and annual return programs. Provisions for returns under these programs are made at the time of sale based on the terms of the program and historical returns experience. The Company may provide certain sales incentives to dealers and distributors. Provisions for sales incentives are made at the time of sale for existing incentive programs. These provisions are revised in the event of subsequent modification to the incentive program. See “Accounts and Notes Receivable” for further discussion.

In the United States and Canada, all equipment sales to dealers are immediately due upon a retail sale of the equipment by the dealer with the exception of sales of grain storage and protein production systems. If not previously paid by the dealer in the United States and Canada, installment payments are required generally beginning after the interest-free period with the remaining outstanding equipment balance generally due within 12 months after shipment or delivery. Interest generally is charged on the outstanding balance six to 12 months after shipment or delivery. Sales terms of some highly seasonal products provide for payment and due dates based on a specified date during the year regardless of the shipment date. Equipment sold to dealers in the United States and Canada is paid in full on average within 12 months of shipment. Sales of replacement parts generally are payable within 30 days of shipment, with terms for some larger, seasonal stock orders generally requiring payment within six months of shipment. Sales of grain storage and protein production systems generally are payable within 30 days of shipment.

In other international markets, equipment sales generally are payable in full within 30 to 180 days of shipment or delivery. Payment terms for some highly seasonal products have a specified due date during the year regardless of the shipment or delivery date. Sales of replacement parts generally are payable within 30 to 90 days of shipment, with terms for some larger, seasonal stock orders generally payable within six months of shipment.

In certain markets, particularly in North America, there is a time lag, which varies based on the timing and level of retail demand, between the date the Company records a sale and when the dealer sells the equipment to a retail customer.

Foreign Currency Translation

The financial statements of the Company’s foreign subsidiaries are translated into United States currency in accordance with Accounting Standards Codification (“ASC”) 830, “Foreign Currency Matters.” Assets and liabilities are translated to United States dollars at period-end exchange rates. Income and expense items are translated at average rates of exchange prevailing during the period. Translation adjustments are included in “Accumulated other comprehensive loss” in stockholders’ equity within the Company’s Consolidated Balance Sheets. Gains and losses, which result from foreign currency transactions, are included in the accompanying Consolidated Statements of Operations.

Cash and Cash Equivalents

Cash at December 31, 2014 and 2013 of $215.3 million and $465.2 million, respectively, consisted primarily of cash on hand and bank deposits. The Company considers all investments with an original maturity of three months or less to be cash equivalents. Cash equivalents at December 31, 2014 and 2013 of $148.4 million and $582.0 million, respectively, consisted primarily of money market deposits, certificates of deposits and overnight investments.

Accounts and Notes Receivable

Accounts and notes receivable arise from the sale of equipment and replacement parts to independent dealers, distributors or other customers. Payments due under the Company’s terms of sale generally range from one to 12 months and are not contingent upon the sale of the equipment by the dealer or distributor to a retail customer. Under normal circumstances, payment terms are not extended and equipment may not be returned. In certain regions, with respect to most equipment sales, including the United States and Canada, the Company is obligated to repurchase equipment and replacement parts upon cancellation of a dealer or distributor contract. These obligations are required by national, state or provincial laws and require the Company to repurchase a dealer or distributor’s unsold inventory, including inventories for which the receivable already has been paid.

The Company offers various sales terms with respect to its products. For sales in most markets outside of the United States and Canada, the Company generally does not charge interest on outstanding receivables with its dealers and distributors. For sales to certain dealers or distributors in the United States and Canada, interest is charged at or above prime lending rates on outstanding receivable balances after interest-free periods. These interest-free periods vary by product and generally range from one to 12 months as previously discussed. Globally, in limited circumstances, we provide sales terms and, in some cases, interest free periods that are longer than 12 months for certain seasonal products such as harvesting equipment. These are typically specified programs, predominately in the United States and Canada, where interest is charged after a period of up to 23 months depending on the year of the sale and the dealer or distributor’s sales volume during the preceding year. Actual interest-free periods are shorter than described above because the equipment receivable from dealers or distributors in some countries, such as in the United States and Canada, is generally due immediately upon sale of the equipment to a retail customer. Receivables can also be paid prior to terms specified in sales agreements. Under normal circumstances, interest is not forgiven and interest-free periods are not extended.

The following summarizes by geographic region, as a percentage of our consolidated net sales, amounts with maximum interest-free periods as presented below (in millions):



Year Ended December 31, 2014	North America		South America		Europe/Africa/ Middle East		Asia/Pacific		Consolidated
0 to 6 months	$	1,856.3	$	1,663.4	$	5,097.9	$	487.6	$	9,105.2	93.6	%
7 to 12 months	510.2		—		59.2		—		569.4		5.9	%
13 to 23 months	47.7		—		1.4		—		49.1		0.5	%
	$	2,414.2	$	1,663.4	$	5,158.5	$	487.6	$	9,723.7	100	%

The Company has an agreement to permit transferring, on an ongoing basis, substantially all of its wholesale interest-bearing and non-interest bearing accounts receivable in North America to its U.S. and Canadian finance joint ventures. Upon transfer, the receivables maintain standard payment terms, including required regular principal payments on amounts outstanding, and interest charges at market rates. The Company also has accounts receivable sales agreements that permit the sale, on an ongoing basis, of a majority of its accounts receivables in Europe to its European finance joint ventures. Upon transfer, the receivables maintain standard payment terms. Qualified dealers may obtain additional financing through the Company’s U.S., Canadian and European finance joint ventures at the joint ventures’ discretion.

The Company provides various volume bonus and sales incentive programs with respect to its products. These sales incentive programs include reductions in invoice prices, reductions in retail financing rates, dealer commissions and dealer incentive allowances. In most cases, incentive programs are established and communicated to the Company’s dealers on a quarterly basis. The incentives are paid either at the time of invoice (through a reduction of invoice price), at the time of the settlement of the receivable, at the time of retail financing, at the time of warranty registration, or at a subsequent time based on dealer purchases. The incentive programs are product-line specific and generally do not vary by dealer. The cost of sales incentives associated with dealer commissions and dealer incentive allowances is estimated based upon the terms of the programs and historical experience, is based on a percentage of the sales price, and is recorded at the later of (a) the date at which the related revenue is recognized, or (b) the date at which the sales incentive is offered. The related provisions and accruals are made on a product or product-line basis and are monitored for adequacy and revised at least quarterly in the event of subsequent modifications to the programs. Volume discounts are estimated and recognized based on historical experience, and related reserves are monitored and adjusted based on actual dealer purchases and the dealer’s progress towards achieving specified cumulative target levels. The Company records the cost of interest subsidy payments, which is a reduction in the retail financing rates, at the later of (a) the date at which the related revenue is recognized, or (b) the date at which the sales incentive is offered. Estimates of these incentives are based on the terms of the programs and historical experience. All incentive programs are recorded and presented as a reduction of revenue due to the fact that the Company does not receive an identifiable benefit in exchange for the consideration provided. Reserves for incentive programs that will be paid either through the reduction of future invoices or through credit memos are recorded as “accounts receivable allowances” within the Company’s Consolidated Balance Sheets. Reserves for incentive programs that will be paid in cash, as is the case with most of the Company’s volume discount programs, as well as sales with incentives associated with accounts receivable sold to its U.S. and Canadian finance joint ventures, are recorded within “Accrued expenses” within the Company’s Consolidated Balance Sheets.

Accounts and notes receivable are shown net of allowances for sales incentive discounts available to dealers and for doubtful accounts. Cash flows related to the collection of receivables are reported within “Cash flows from operating activities” within the Company’s Consolidated Statements of Cash Flows. Accounts and notes receivable allowances at December 31, 2014 and 2013 were as follows (in millions):



	2014		2013
Sales incentive discounts	$	18.5	$	30.4
Doubtful accounts	32.1		34.9
	$	50.6	$	65.3

The Company transfers certain accounts receivable under its accounts receivable sales agreements with its finance joint ventures (Note 4). The Company records such transfers as sales of accounts receivable when it is considered to have surrendered control of such receivables under the provisions of Accounting Standards Update (“ASU”) 2009-16, “Transfers and Servicing (Topic 860): Accounting for Transfers of Financial Assets.” Cash payments are made to the Company’s U.S. and Canadian finance joint ventures for sales incentive discounts provided to dealers related to outstanding accounts receivables sold. The balances of such sales discount reserves that are recorded within “Accrued expenses” as of December 31, 2014 and 2013 were approximately $236.5 million and $206.2 million, respectively.

Inventories

Inventories are valued at the lower of cost or market using the first-in, first-out method. Market is current replacement cost (by purchase or by reproduction, dependent on the type of inventory). In cases where market exceeds net realizable value (i.e., estimated selling price less reasonably predictable costs of completion and disposal), inventories are stated at net realizable value. Market is not considered to be less than net realizable value reduced by an allowance for an approximately normal profit margin. At December 31, 2014 and 2013, the Company had recorded $126.5 million and $119.9 million, respectively, as an adjustment for surplus and obsolete inventories. These adjustments are reflected within “Inventories, net” within the Company’s Consolidated Balance Sheets.

Inventories, net at December 31, 2014 and 2013 were as follows (in millions):



	2014		2013
Finished goods	$	616.6	$	775.7
Repair and replacement parts	536.4		550.2
Work in process	130.5		109.0
Raw materials	467.2		581.2
Inventories, net	$	1,750.7	$	2,016.1

Cash flows related to the sale of inventories are reported within “Cash flows from operating activities” within the Company’s Consolidated Statements of Cash Flows.

Property, Plant and Equipment

Property, plant and equipment are recorded at cost, less accumulated depreciation and amortization. Depreciation is provided on a straight-line basis over the estimated useful lives of ten to 40 years for buildings and improvements, three to 15 years for machinery and equipment and three to ten years for furniture and fixtures. Expenditures for maintenance and repairs are charged to expense as incurred.

Property, plant and equipment, net at December 31, 2014 and 2013 consisted of the following (in millions):



	2014			2013
Land	$	113.6		$	125.6
Buildings and improvements	688.4			698.5
Machinery and equipment	2,039.9			2,013.4
Furniture and fixtures	127.6			127.3
Gross property, plant and equipment	2,969.5			2,964.8
Accumulated depreciation and amortization	(1,439.1		)	(1,362.5		)
Property, plant and equipment, net	$	1,530.4		$	1,602.3

Goodwill, Other Intangible Assets and Long-Lived Assets

The Company tests goodwill for impairment, at the reporting unit level, annually and when events or circumstances indicate that fair value of a reporting unit may be below its carrying value. A reporting unit is an operating segment or one level below an operating segment, for example, a component. The Company combines and aggregates two or more components of an operating segment as a single reporting unit if the components have similar economic characteristics. The Company’s reportable segments are not its reporting units.

Goodwill is evaluated annually as of October 1 for impairment using a qualitative assessment or a quantitative two-step assessment. If the Company elects to perform a qualitative assessment and determines the fair value of its reporting units more likely than not exceeds their carrying value, no further evaluation is necessary. For reporting units where the Company performs a two-step quantitative assessment, the first step requires the Company to compare the fair value of each reporting unit, which is determined based on a combination of a discounted cash flow valuation approach and a market multiple valuation approach, to its respective carrying value, including goodwill. If the fair value of the reporting unit exceeds its carrying value, the goodwill is not considered impaired. If the carrying value is higher than the fair value of the reporting unit, the second step of the quantitative process is required to measure the amount of impairment, if any. The second step of the quantitative assessment results in a calculation of the implied fair value of the reporting unit’s goodwill, which is determined as the excess of the fair value of a reporting unit over the fair values assigned to its assets and liabilities. If the implied fair value of goodwill is less than the carrying value of the reporting unit’s goodwill, the difference is recognized as an impairment loss.

The Company reviews its long-lived assets, which includes intangible assets subject to amortization, for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. The evaluation for recoverability is performed at a level where independent cash flows may be attributed to either an asset or asset group. If the Company determines that the carrying amount of an asset or asset group is not recoverable based on the expected undiscounted future cash flows of the asset or asset group, an impairment loss is recorded equal to the excess of the carrying amounts over the estimated fair value of the long-lived assets. Estimates of future cash flows are based on many factors, including current operating results, expected market trends and competitive influences. The Company also evaluates the amortization periods assigned to its intangible assets to determine whether events or changes in circumstances warrant revised estimates of useful lives. Assets to be disposed of by sale are reported at the lower of the carrying amount or fair value, less estimated costs to sell.

The results of the Company’s goodwill and long-lived assets impairment analyses conducted as of October 1, 2014 and 2013 indicated that no reduction in the carrying amount of the Company’s goodwill and long-lived assets was required.

During the fourth quarter of 2012, the Company conducted a quantitative goodwill impairment analysis of its Chinese harvesting business and also reviewed its long-lived assets for impairment, including its trademark, distribution network and land use right identifiable intangible assets. The goodwill and long-lived asset impairment analyses indicated that a reduction in the carrying amount of the Chinese harvesting business’ goodwill and certain other identifiable intangible assets was required. Accordingly, the Company recorded an impairment charge of approximately $22.4 million within “Impairment charge” in the Company’s Consolidated Statement of Operations for the year ended December 31, 2012. The Chinese harvesting business operates within the Asia/Pacific geographical reportable segment. The results of the Company’s goodwill impairment analysis conducted as of October 1, 2012 indicated that no other reduction in the carrying amount of goodwill and long-lived assets was required. The Company’s accumulated goodwill impairment is approximately $180.5 million, which is comprised of approximately $9.1 million recorded in 2012 related to the Chinese harvesting reporting unit and approximately $171.4 million recorded in 2006 related to the Company’s former sprayer reporting unit. The former sprayer reporting unit operates within the North American geographical reportable segment.

Changes in the carrying amount of goodwill during the years ended December 31, 2014, 2013 and 2012 are summarized as follows (in millions):



	North America		South America			Europe/Africa/ Middle East			Asia/Pacific			Consolidated
Balance as of December 31, 2011	$	415.9	$	212.2		$	496.8		$	69.6		$	1,194.5
Acquisition	0.8		29.0			—			(3.7		)	26.1
Impairment charge	—		—			—			(9.1		)	(9.1		)
Adjustments related to income taxes	—		—			(7.8		)	—			(7.8		)
Foreign currency translation	—		(21.9		)	9.3			1.3			(11.3		)
Balance as of December 31, 2012	416.7		219.3			498.3			58.1			1,192.4
Acquisition	7.3		—			—			—			7.3
Adjustments related to income taxes	—		—			(8.0		)	—			(8.0		)
Foreign currency translation	—		(28.6		)	16.3			(0.7		)	(13.0		)
Balance as of December 31, 2013	424.0		190.7			506.6			57.4			1,178.7
Acquisition	89.6		—			—			—			89.6
Foreign currency translation	—		(21.0		)	(52.0		)	(2.5		)	(75.5		)
Balance as of December 31, 2014	$	513.6	$	169.7		$	454.6		$	54.9		$	1,192.8

During 2013 and 2012, the Company reduced goodwill for financial reporting purposes by approximately $8.0 million and $7.8 million, respectively, related to the realization of tax benefits associated with the excess tax basis deductible goodwill resulting from the Company’s acquisition of Valtra.

The Company amortizes certain acquired identifiable intangible assets primarily on a straight-line basis over their estimated useful lives, which range from five to 50 years. The acquired intangible assets have a weighted average useful life as follows:



Intangible Asset	Weighted-Average Useful Life
Patents and technology	14	years
Customer relationships	14	years
Trademarks and trade names	21	years
Land use rights	46	years

For the years ended December 31, 2014, 2013 and 2012, acquired intangible asset amortization was $41.0 million, $47.8 million and $49.3 million, respectively. The Company estimates amortization of existing intangible assets will be $42.7 million for 2015, $41.5 million for 2016, $41.2 million for 2017, $41.2 million for 2018, and $41.2 million for 2019.

The Company has previously determined that two of its trademarks have an indefinite useful life. The Massey Ferguson trademark has been in existence since 1952 and was formed from the merger of Massey-Harris (established in the 1890’s) and Ferguson (established in the 1930’s). The Massey Ferguson brand is currently sold in over 140 countries worldwide, making it one of the most widely sold tractor brands in the world. The Company also has identified the Valtra trademark as an indefinite-lived asset. The Valtra trademark has been in existence since the late 1990’s, but is a derivative of the Valmet trademark which has been in existence since 1951. The Valmet name transitioned to the Valtra name over a period of time in the marketplace. The Valtra brand is currently sold in approximately 50 countries around the world. Both the Massey Ferguson brand and the Valtra brand are primary product lines of the Company’s business, and the Company plans to use these trademarks for an indefinite period of time. The Company plans to continue to make investments in product development to enhance the value of these brands into the future. There are no legal, regulatory, contractual, competitive, economic or other factors that the Company is aware of or that the Company believes would limit the useful lives of the trademarks. The Massey Ferguson and Valtra trademark registrations can be renewed at a nominal cost in the countries in which the Company operates.

Changes in the carrying amount of acquired intangible assets during 2014 and 2013 are summarized as follows (in millions):



	Trademarks and Trade Names			Customer Relationships			Patents and Technology			Land Use Rights			Total
Gross carrying amounts:
Balance as of December 31, 2012	$	118.9		$	507.8		$	87.6		$	8.7		$	723.0
Acquisition	—			—			—			6.0			6.0
Foreign currency translation	(0.3		)	(5.1		)	1.5			0.2			(3.7		)
Balance as of December 31, 2013	118.6			502.7			89.1			14.9			725.3
Acquisition	7.0			28.0			11.3			—			46.3
Settlement of purchase consideration	—			—			—			(4.8		)	(4.8		)
Foreign currency translation	(2.1		)	(16.9		)	(6.4		)	(0.4		)	(25.8		)
Balance as of December 31, 2014	$	123.5		$	513.8		$	94.0		$	9.7		$	741.0



	Trademarks and Trade Names			Customer Relationships			Patents and Technology			Land Use Rights		Total
Accumulated amortization:
Balance as of December 31, 2012	$	24.9		$	126.6		$	54.1		$	2.5	$	208.1
Amortization expense	6.2			38.4			3.0			0.2		47.8
Foreign currency translation	(0.1		)	(4.3		)	1.9			—		(2.5		)
Balance as of December 31, 2013	31.0			160.7			59.0			2.7		253.4
Amortization expense	6.2			31.4			3.2			0.2		41.0
Foreign currency translation	(0.8		)	(11.3		)	(6.1		)	—		(18.2		)
Balance as of December 31, 2014	$	36.4		$	180.8		$	56.1		$	2.9	$	276.2



	Trademarks and Trade Names
Indefinite-lived intangible assets:
Balance as of December 31, 2012	$	92.2
Foreign currency translation	1.5
Balance as of December 31, 2013	93.7
Foreign currency translation	(4.7		)
Balance as of December 31, 2014	$	89.0

Accrued Expenses

Accrued expenses at December 31, 2014 and 2013 consisted of the following (in millions):



	2014		2013
Reserve for volume discounts and sales incentives	$	467.7	$	494.1
Warranty reserves	245.7		255.9
Accrued employee compensation and benefits	232.8		285.8
Accrued taxes	108.4		167.3
Other	189.5		186.1
	$	1,244.1	$	1,389.2

Warranty Reserves

The warranty reserve activity for the years ended December 31, 2014, 2013 and 2012 consisted of the following (in millions):



	2014			2013			2012
Balance at beginning of the year	$	294.9		$	256.9		$	240.5
Acquisitions	0.5			—			0.1
Accruals for warranties issued during the year	214.1			200.3			184.5
Settlements made (in cash or in kind) during the year	(205.5		)	(165.7		)	(171.7		)
Foreign currency translation	(19.4		)	3.4			3.5
Balance at the end of the year	$	284.6		$	294.9		$	256.9

The Company’s agricultural equipment products are generally under warranty against defects in materials and workmanship for a period of one to four years. The Company accrues for future warranty costs at the time of sale based on historical warranty experience. Approximately $38.9 million and $39.0 million of warranty reserves are included in “Other noncurrent liabilities” in the Company’s Consolidated Balance Sheets as of December 31, 2014 and 2013, respectively.

Insurance Reserves

Under the Company’s insurance programs, coverage is obtained for significant liability limits as well as those risks required to be insured by law or contract. It is the policy of the Company to self-insure a portion of certain expected losses related primarily to workers’ compensation and comprehensive general, product and vehicle liability. Provisions for losses expected under these programs are recorded based on the Company’s estimates of the aggregate liabilities for the claims incurred.

Stock Incentive Plans

Stock compensation expense (credit) was recorded as follows (in millions). Refer to Note 10 for additional information regarding the Company’s stock incentive plans during 2014, 2013 and 2012:



	Years Ended December 31,
	2014			2013		2012
Cost of goods sold	$	(0.9	)	$	2.3	$	2.4
Selling, general and administrative expenses	(9.7		)	32.6		34.6
Total stock compensation expense (credit)	$	(10.6	)	$	34.9	$	37.0

Research and Development Expenses

Research and development expenses are expensed as incurred and are included in engineering expenses in the Company’s Consolidated Statements of Operations.

Advertising Costs

The Company expenses all advertising costs as incurred. Cooperative advertising costs normally are expensed at the time the revenue is earned. Advertising expenses for the years ended December 31, 2014, 2013 and 2012 totaled approximately $59.8 million, $60.5 million and $60.2 million, respectively.

Shipping and Handling Expenses

All shipping and handling fees charged to customers are included as a component of net sales. Shipping and handling costs are included as a part of cost of goods sold, with the exception of certain handling costs included in selling, general and administrative expenses in the amount of $29.2 million, $29.3 million and $31.0 million for the years ended December 31, 2014, 2013 and 2012, respectively.

Interest Expense, Net

Interest expense, net for the years ended December 31, 2014, 2013 and 2012 consisted of the following (in millions):



	2014			2013			2012
Interest expense	$	71.9		$	78.8		$	77.7
Interest income	(13.5		)	(20.8		)	(20.1		)
	$	58.4		$	58.0		$	57.6

Income Taxes

Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. Refer to Note 6 for additional information regarding the Company’s income taxes.

Net Income Per Common Share

Basic income per common share is computed by dividing net income by the weighted average number of common shares outstanding during each period. Diluted income per common share assumes the exercise of outstanding stock options, stock-settled stock appreciation rights (“SSARs”), the vesting of restricted stock and performance share awards, 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.

The Company’s former 1¹/4% convertible senior subordinated notes provided for the settlement upon conversion in cash up to the principal amount of the converted notes with any excess conversion value settled in shares of the Company’s common stock. Dilution of weighted shares outstanding was dependent on the Company’s stock price for the excess conversion value using the treasury stock method (Note 7). 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 net income per share during the years ended December 31, 2014, 2013 and 2012 is as follows (in millions, except per share data):



	2014		2013		2012
Basic net income per share:
Net income attributable to AGCO Corporation and subsidiaries	$	410.4	$	597.2	$	522.1
Weighted average number of common shares outstanding	93.4		97.3		97.1
Basic net income per share attributable to AGCO Corporation and subsidiaries	$	4.39	$	6.14	$	5.38
Diluted net income per share:
Net income attributable to AGCO Corporation and subsidiaries	$	410.4	$	597.2	$	522.1
Weighted average number of common shares outstanding	93.4		97.3		97.1
Dilutive stock options, SSARs, performance share awards and restricted stock awards	0.3		0.8		1.0
Weighted average assumed conversion of contingently convertible senior subordinated notes	0.5		1.3		0.5
Weighted average number of common shares and common share equivalents outstanding for purposes of computing diluted net income per share	94.2		99.4		98.6
Diluted net income per share attributable to AGCO Corporation and subsidiaries	$	4.36	$	6.01	$	5.30

SSARs to purchase 1.0 million shares, 0.8 million shares and 0.6 million shares were outstanding for the years ended December 31, 2014, 2013 and 2012, respectively, but not included in the calculation of weighted average common and common equivalent shares outstanding because they had an antidilutive impact.

Comprehensive Income (Loss)

The Company reports comprehensive income (loss), defined as the total of net income (loss) and all other non-owner changes in equity, and the components thereof in its Consolidated Statements of Stockholders’ Equity and Consolidated Statements of Comprehensive Income. The components of other comprehensive loss and the related tax effects for the years ended December 31, 2014, 2013 and 2012 are as follows (in millions):



	AGCO Corporation and Subsidiaries								Noncontrolling Interests
	2014								2014
	Before-tax Amount			Income Taxes		After-tax Amount			After-tax Amount
Defined benefit pension plans	$	(62.1	)	$	15.2	$	(46.9	)	$	—
Net gain on derivatives	0.1			—		0.1			—
Foreign currency translation adjustments	(349.0		)	—		(349.0		)	(0.3		)
Total components of other comprehensive loss	$	(411.0	)	$	15.2	$	(395.8	)	$	(0.3	)



	AGCO Corporation and Subsidiaries									Noncontrolling Interests
	2013									2013
	Before-tax Amount			Income Taxes			After-tax Amount			After-tax Amount
Defined benefit pension plans	$	75.8		$	(19.3	)	$	56.5		$	—
Net loss on derivatives	(1.4		)	0.5			(0.9		)	—
Foreign currency translation adjustments	(86.9		)	—			(86.9		)	(0.3		)
Total components of other comprehensive loss	$	(12.5	)	$	(18.8	)	$	(31.3	)	$	(0.3	)



	AGCO Corporation and Subsidiaries									Noncontrolling Interests
	2012									2012
	Before-tax Amount			Income Taxes			After-tax Amount			After-tax Amount
Defined benefit pension plans	$	(32.5	)	$	9.8		$	(22.7	)	$	—
Net gain on derivatives	6.5			(1.5		)	5.0			—
Foreign currency translation adjustments	(61.1		)	—			(61.1		)	(1.6		)
Total components of other comprehensive loss	$	(87.1	)	$	8.3		$	(78.8	)	$	(1.6	)

Derivatives

The Company uses foreign currency contracts to hedge the foreign currency exposure of certain receivables and payables. The contracts are for periods consistent with the exposure being hedged and generally have maturities of one year or less. These contracts are classified as non-designated derivative instruments. The Company also enters into foreign currency contracts designated as cash flow hedges of expected sales. The Company’s foreign currency contracts mitigate risk due to exchange rate fluctuations because gains and losses on these contracts generally offset losses and gains on the exposure being hedged.

The notional amounts of the foreign currency contracts do not represent amounts exchanged by the parties and, therefore, are not a measure of the Company’s risk. The amounts exchanged are calculated on the basis of the notional amounts and other terms of the contracts. The credit and market risks under these contracts are not considered to be significant. The Company’s hedging policy prohibits it from entering into any foreign currency contracts for speculative trading purposes. Refer to Note 11 for additional information regarding the Company’s derivative instruments and hedging activities.

Recent Accounting Pronouncements

In May 2014, the Financial Accounting Standards Board (“FASB”) issued ASU 2014-09, “Revenue from Contracts with Customers” (“ASU 2014-09”), which supersedes existing revenue recognition guidance under current U.S. GAAP. ASU 2014-09 outlines a comprehensive, single revenue recognition model that provides a five-step analysis in determining when and how revenue is recognized. The new model will require revenue recognition to depict the transfer of promised goods or services to customers at an amount that reflects the consideration expected to be received in exchange for those goods or services. Additional disclosures also will be required to enable users to understand the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. The standard is effective for reporting periods beginning after December 15, 2016 using either a full retrospective or a modified retrospective approach. Early adoption is not permitted. The Company currently is evaluating the impact of adopting this standard on the Company’s results of operations and financial condition.

In July 2013, the FASB issued ASU 2013-11, “Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists” (“ASU 2013-11”). ASU 2013-11 requires an unrecognized tax benefit, or a portion of an unrecognized tax benefit, to be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward. To the extent a net operating loss carryfoward, a similar tax loss, or a tax credit carryforward is not available at the reporting date under the tax law of the applicable jurisdiction to settle any additional income taxes that would result from the disallowance of a tax position, or the tax law of the applicable jurisdiction does not require the entity to use, and the entity does not intend to use, the deferred tax asset for such purpose, the unrecognized tax benefit is presented in the financial statements as a liability and is not combined with deferred tax assets. The standard is effective for fiscal years, and interim periods within those years, beginning after December 15, 2013. Early adoption is permitted. The Company adopted this standard on January 1, 2014. The adoption of ASU 2013-11 did not have a material impact on the Company’s results of operations or financial condition.

Acquisitions

12 Months Ended

Dec. 31, 2014

Business Combinations [Abstract]

Acquisitions

On September 11, 2014, the Company acquired the remaining 39% interest of Santal Equipamentos S.A. Comércio e Indústria (“Santal”) for approximately R$9.0 million (or approximately $3.7 million). Santal is headquartered in Ribeirão Preto, Brazil, and manufactures and distributes sugar cane planting, harvesting, handling and transportation equipment as well as replacement parts across Brazil. Due to the fact that the Company and the seller each had a call option and put option, respectively, with varying dates with respect to the remaining 39% interest in Santal, the fair value of the redeemable noncontrolling interest had previously been recorded within “Temporary equity” in the Company’s Consolidated Balance Sheets. The acquisition of the remaining interest was funded with available cash on hand. The redemption and related amounts settled were reflected in “Additional paid-in capital” in the Company’s Consolidated Balance Sheets.

On August 1, 2014, the Company acquired Intersystems Holdings, Inc. (“Intersystems”) for approximately $134.4 million, net of cash acquired of approximately $4.1 million (or approximately $130.3 million, net). Intersystems, headquartered in Omaha, Nebraska, designs and manufactures commercial material handling solutions, primarily for the agricultural, biofuels and food and feed processing industries. The acquisition was financed with available cash on hand and the Company’s credit facility (Note 7). The Company allocated the purchase price to the assets acquired and liabilities assumed based on preliminary estimates of their fair values as of the acquisition date. The acquired net assets primarily consisted of accounts receivable, inventories, accounts payable and accrued expenses, property, plant and equipment, and customer relationship, technology and trademark identifiable intangible assets. The Company recorded approximately $46.3 million of customer relationship, technology and trademark identifiable intangible assets and approximately $89.6 million of goodwill associated with the acquisition. The goodwill was reported within the Company’s North American geographical reportable segment. The results of operations of Intersystems have been included in the Company’s Consolidated Financial Statements as of and from the date of acquisition.

The acquired identifiable intangible assets of Intersystems as of the date of the acquisition are summarized in the following table (in millions):



Intangible Asset	Amount		Weighted-Average Useful Life
Customer relationships	$	28.0	15	years
Technology	11.3		15	years
Trademarks	7.0		16	years
	$	46.3

The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable).

Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
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-URI http://asc.fasb.org/extlink&oid=35744584&loc=d3e6996-128479

Investments in Affiliates [Abstract]

Restructuring and Other Infrequent Expenses	12 Months Ended
Restructuring and Other Infrequent Expenses	Dec. 31, 2014
Restructuring and Other Infrequent Expenses [Abstract]
Restructuring and Related Activities Disclosure	Restructuring and Other Infrequent Expenses During the second half of 2014, the Company announced and initiated several actions to rationalize employee headcount at various manufacturing facilities located in Germany, France, Finland, Italy, China, Brazil, Argentina and the United States, as well as various administrative offices located in Europe, Brazil, China and the United States. The headcount reduction of over 1,500 employees was initiated in order to reduce costs in response to softening global market demand and reduced production volumes. The Company recorded restructuring and other infrequent expenses of approximately $46.4 million associated with these rationalizations, of which $44.4 million related to severance and other related costs. The Company paid approximately $19.0 million of severance and other related costs during 2014. The remaining $25.4 million of severance and other related costs accrued as of December 31, 2014 will be paid during 2015 and 2016. In addition, during 2014, the Company recorded a $1.2 million write-down of property, plant and equipment associated with the rationalization of certain manufacturing facilities. The impairment charge was based upon the estimated fair value of the assets compared to their carrying value. The Company also recorded approximately $0.8 million in net pension settlement and special termination benefit charges related to certain defined benefit plans as a result of the rationalizations in Finland and the United States.

Accounts Receivable Sales Agreements	12 Months Ended
Accounts Receivable Sales Agreements	Dec. 31, 2014
Accounts Receivable Sales Agreements [Abstract]
Accounts Receivable Sales Agreements	Accounts Receivable Sales Agreements At December 31, 2014 and 2013, the Company had accounts receivable sales agreements that permit the sale, on an ongoing basis, of a majority of its wholesale receivables in North America and Europe to its 49% owned U.S., Canadian and European finance joint ventures. As of December 31, 2014 and 2013, the cash received from receivables sold under the U.S., Canadian and European accounts receivable sales agreements was approximately $1.2 billion and $1.3 billion, respectively. Under the terms of the accounts receivable sales agreements in North America and Europe, the Company pays an annual servicing fee related to the servicing of the receivables sold. The Company also pays the respective AGCO Finance entities a subsidized interest payment with respect to the sales agreements, calculated based upon LIBOR plus a margin on any non-interest bearing accounts receivable outstanding and sold under the sales agreements. These fees are reflected within losses on the sales of receivables included within “Other expense, net” in the Company’s Consolidated Statements of Operations. 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 and determined that these facilities 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 Consolidated Statements of Operations, were approximately $24.8 million, $25.6 million and $21.8 million during 2014, 2013 and 2012, respectively. The Company’s finance joint ventures in 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 December 31, 2014 and 2013, these finance joint ventures had approximately $43.3 million and $68.2 million, respectively, of outstanding accounts receivable associated with these arrangements. The Company reviewed its accounting for these arrangements 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 and determined that these arrangements should be accounted for as off-balance sheet transactions.

Investments in Affiliates

12 Months Ended

Dec. 31, 2014

Investments in Affiliates

Investments in affiliates as of December 31, 2014 and 2013 were as follows (in millions):



	2014		2013
Finance joint ventures	$	389.0	$	390.2
Manufacturing joint ventures	19.6		16.1
Other affiliates	15.5		9.8
	$	424.1	$	416.1

The Company’s manufacturing joint ventures as of December 31, 2014 consisted of GIMA and joint ventures with third-party manufacturers to assemble tractors in Algeria and engines in South America. The other joint ventures represent investments in farm equipment manufacturers, an electronic and software system manufacturer, distributors and licensees.

The Company’s equity in net earnings of affiliates for the years ended December 31, 2014, 2013 and 2012 were as follows (in millions):



	2014		2013			2012
Finance joint ventures	$	48.8	$	48.8		$	48.6
Manufacturing and other joint ventures	4.1		(0.6		)	4.9
	$	52.9	$	48.2		$	53.5

Summarized combined financial information of the Company’s finance joint ventures as of December 31, 2014 and 2013 and for the years ended December 31, 2014, 2013 and 2012 were as follows (in millions):



	December 31,
	2014		2013
Total assets	$	8,836.4	$	9,442.7
Total liabilities	8,042.9		8,646.3
Partners’ equity	793.5		796.4



	For the Years Ended December 31,
	2014		2013		2012
Revenues	$	383.4	$	389.2	$	377.8
Costs	234.7		239.4		226.5
Income before income taxes	$	148.7	$	149.8	$	151.3

The majority of the assets of the Company’s finance joint ventures represent finance receivables. The majority of the liabilities represent notes payable and accrued interest. Under the various joint venture agreements, Rabobank or its affiliates provide financing to the joint venture companies (Note 14).

At December 31, 2014 and 2013, the Company’s receivables from affiliates were approximately $108.4 million and $124.3 million, respectively. The receivables from affiliates are reflected within Accounts and notes receivable, net within the Company’s Consolidated Balance Sheets.

The portion of the Company’s retained earnings balance that represents undistributed retained earnings of equity method investees was approximately $293.3 million and $276.3 million as of December 31, 2014 and 2013, respectively.

Income Taxes

12 Months Ended

Dec. 31, 2014

Income Tax Disclosure [Abstract]

Income Taxes

The sources of income before income taxes and equity in net earnings of affiliates were as follows for the years ended December 31, 2014, 2013 and 2012 (in millions):



	2014		2013		2012
United States	$	63.5	$	133.1	$	98.0
Foreign	475.5		669.5		502.8
Income before income taxes and equity in net earnings of affiliates	$	539.0	$	802.6	$	600.8

The provision for income taxes by location of the taxing jurisdiction for the years ended December 31, 2014, 2013 and 2012 consisted of the following (in millions):



	2014			2013			2012
Current:
United States:
Federal	$	12.6		$	9.2		$	(5.5	)
State	2.8			9.9			2.8
Foreign	168.7			217.7			177.0
	184.1			236.8			174.3
Deferred:
United States:
Federal	(0.4		)	30.2			(27.0		)
State	—			—			—
Foreign	4.0			(8.5		)	(9.4		)
	3.6			21.7			(36.4		)
	$	187.7		$	258.5		$	137.9

At December 31, 2014, the Company’s foreign subsidiaries had approximately $3.3 billion of undistributed earnings. These earnings are considered to be indefinitely invested, and, accordingly, no income taxes have been provided on these earnings. Determination of the amount of unrecognized deferred taxes on these earnings is not practicable; however, unrecognized foreign tax credits would be available to reduce a portion of the tax liability.

A reconciliation of income taxes computed at the United States federal statutory income tax rate (35%) to the provision for income taxes reflected in the Company’s Consolidated Statements of Operations for the years ended December 31, 2014, 2013 and 2012 is as follows (in millions):



	2014			2013			2012
Provision for income taxes at United States federal statutory rate of 35%	$	188.7		$	280.9		$	210.3
State and local income taxes, net of federal income tax benefit	2.6			5.6			3.9
Taxes on foreign income which differ from the United States statutory rate	(33.4		)	(34.7		)	(19.8		)
Tax effect of permanent differences	(10.3		)	(7.6		)	11.5
Change in valuation allowance	22.8			9.3			(64.3		)
Change in tax contingency reserves	25.2			25.7			20.8
Research and development tax credits	(7.1		)	(19.9		)	(26.3		)
Other	(0.8		)	(0.8		)	1.8
	$	187.7		$	258.5		$	137.9

The “change in valuation allowance” for the year ended December 31, 2012 primarily relates to the usage of approximately $54.7 million of valuation allowance due to income generated in the United States during 2012. The 2012 income tax provision also includes a reversal of approximately $13.8 million of remaining valuation allowance previously established against the Company’s U.S. deferred tax assets (as reflected above in the “change in valuation allowance”) as well as the recognition of certain U.S. research and development tax credits of approximately $13.1 million.

The significant components of the deferred tax assets and liabilities at December 31, 2014 and 2013 were as follows (in millions):



	2014			2013
Deferred Tax Assets:
Net operating loss carryforwards	$	75.7		$	69.7
Sales incentive discounts	85.5			68.7
Inventory valuation reserves	33.9			29.4
Pensions and postretirement health care benefits	76.7			69.7
Warranty and other reserves	104.8			108.5
Research and development tax credits	—			13.2
Other	53.4			64.0
Total gross deferred tax assets	430.0			423.2
Valuation allowance	(93.3		)	(77.2		)
Total net deferred tax assets	336.7			346.0
Deferred Tax Liabilities:
Tax over book depreciation and amortization	311.0			314.7
Other	21.5			21.6
Total deferred tax liabilities	332.5			336.3
Net deferred tax assets	$	4.2		$	9.7
Amounts recognized in Consolidated Balance Sheets:
Deferred tax assets - current	$	217.2		$	241.2
Deferred tax assets - noncurrent	25.8			24.4
Other current liabilities	—			(4.7		)
Deferred tax liabilities - noncurrent	(238.8		)	(251.2		)
	$	4.2		$	9.7

The Company recorded a net deferred tax asset of $4.2 million and $9.7 million as of December 31, 2014 and 2013, respectively. As reflected in the preceding table, the Company had a valuation allowance of $93.3 million and $77.2 million as of December 31, 2014 and 2013, respectively.

A valuation allowance is established when it is more likely than not that some portion or all of the deferred tax assets will not be realized. The Company assessed the likelihood that its deferred tax assets would be recovered from estimated future taxable income and available tax planning strategies and determined that the valuation allowance at December 31, 2014 and 2013 was appropriate. In making this assessment, all available evidence was considered, including the current economic climate, as well as reasonable tax planning strategies. The Company believes it is more likely than not that the Company will realize the remaining deferred tax assets, net of the valuation allowance, in future years.

The Company had net operating loss carryforwards of $265.5 million as of December 31, 2014, with expiration dates as follows: 2015 - $0.9 million; 2016 - $23.3 million; 2017 - $31.7 million; and thereafter or unlimited - $209.6 million. These net operating loss carryforwards of $265.5 million were entirely net operating loss carryforwards outside of the United States.

The Company paid income taxes of $223.6 million, $174.5 million and $147.7 million for the years ended December 31, 2014, 2013 and 2012, respectively.

At December 31, 2014 and 2013, the Company had $130.6 million and $122.2 million, respectively, of unrecognized income tax benefits, all of which would affect the Company’s effective tax rate if recognized. At December 31, 2014 and 2013, the Company had approximately $64.7 million and $61.9 million, respectively, of accrued or deferred taxes related to uncertain income tax positions connected with ongoing income tax audits in various jurisdictions that it expects to settle or pay in the next 12 months. The Company accrued approximately $2.3 million of interest and penalties related to unrecognized tax benefits in its provision for income taxes during both 2014 and 2013. At December 31, 2014 and 2013, the Company had accrued interest and penalties related to unrecognized tax benefits of $15.3 million and $14.4 million, respectively.

A reconciliation of the beginning and ending balances of the total amounts of gross unrecognized tax benefits as of and during the years ended December 31, 2014 and 2013 is as follows (in millions):



	2014			2013
Gross unrecognized income tax benefits	$	122.2		$	94.5
Additions for tax positions of the current year	21.8			34.7
Additions for tax positions of prior years	11.0			3.6
Additions for tax positions related to acquisitions	(0.6		)	—
Reductions for tax positions of prior years for:
Changes in judgments	(2.2		)	(9.0		)
Settlements during the period	(1.9		)	—
Lapses of applicable statute of limitations	(5.4		)	(3.6		)
Foreign currency translation	(14.3		)	2.0
Gross unrecognized income tax benefits	$	130.6		$	122.2

The Company and its subsidiaries file income tax returns in the United States and in various state, local and foreign jurisdictions. The Company and its subsidiaries are routinely examined by tax authorities in these jurisdictions. As of December 31, 2014, a number of income tax examinations in foreign jurisdictions were ongoing. It is possible that certain of these ongoing examinations may be resolved within 12 months. Due to the potential for resolution of federal, state and foreign examinations, and the expiration of various statutes of limitation, it is reasonably possible that the Company’s gross unrecognized income tax benefits balance may materially change within the next 12 months. Due to the number of jurisdictions and issues involved and the uncertainty regarding the timing of any settlements, the Company is unable at this time to provide a reasonable estimate of such change that may occur within the next 12 months. Although there are ongoing examinations in various jurisdictions, the 2011 through 2014 tax years generally remain subject to examination in the United States by federal and state authorities. In the Company’s significant foreign jurisdictions, primarily the United Kingdom, France, Germany, Switzerland, Finland and Brazil, the 2009 through 2014 tax years generally remain subject to examination by their respective tax authorities. In Brazil, the Company is contesting disallowed deductions related to the amortization of certain goodwill amounts (Note 12).

Indebtedness

12 Months Ended

Dec. 31, 2014

Indebtedness [Abstract]

Indebtedness

Indebtedness consisted of the following at December 31, 2014 and 2013 (in millions):



	December 31, 2014			December 31, 2013
4½% Senior term loan due 2016	$	242.0		$	275.0
Credit facility, expires 2019	404.4			360.0
5⁷/8% Senior notes due 2021	300.0			300.0
Other long-term debt	145.5			114.0
1¹/4% Convertible senior subordinated notes due 2036	—			201.2
	1,091.9			1,250.2
Less: Current portion of long-term debt	(94.3		)	(110.5		)
1¹/4% Convertible senior subordinated notes due 2036	—			(201.2		)
Total indebtedness, less current portion	$	997.6		$	938.5

At December 31, 2014, the aggregate scheduled maturities of long-term debt, excluding the current portion of long-term debt, are as follows (in millions):



2016	$	268.0
2017	24.5
2018	4.8
2019	384.9
Thereafter	315.4
	$	997.6

Convertible Senior Subordinated Notes

The carrying amount of the equity component of the Company’s former 1¹/4% convertible senior subordinated notes was $54.3 million as of December 31, 2013. The discount on the liability component of the notes was fully amortized as of December 31, 2013. The effective interest rate on the liability component for the 1¹/4% convertible senior subordinated notes for each of the years ended December 31, 2013 and 2012 was 6.1%.

The following table sets forth the interest expense recognized for the year ended December 31, 2014 relating to the contractual interest coupon and the interest expense recognized for the years ended December 31, 2013 and 2012 relating to both the contractual interest coupon and the amortization of the discount on the liability component for the Company’s former 1¹/4% convertible senior subordinated notes (in millions):



	Years Ended December 31,
	2014		2013		2012
1¼% Convertible senior subordinated notes:
Interest expense	$	0.9	$	11.7	$	11.2

Cash payments for interest were approximately $68.4 million, $66.4 million and $70.0 million for the years ended December 31, 2014, 2013 and 2012, respectively.

The Company’s former 1¹/4% convertible senior subordinated notes, due December 15, 2036, were issued in December 2006 and provided 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 were converted in connection with certain change of control transactions occurring prior to December 15, 2013. The notes were unsecured obligations and were convertible into cash and shares of the Company’s common stock upon satisfaction of certain conditions. Interest was 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. Holders of the Company’s former 1¹/4% convertible senior subordinated notes had the ability to convert the notes if, during any fiscal quarter, the closing sales price of the Company’s common stock exceeded 120% of the conversion price for at least 20 trading days in the 30 consecutive trading days ending on the last trading day of the preceding fiscal quarter. The notes would have been convertible into shares of the Company’s common stock at an effective price of $40.27 per share as of June 30, 2014, subject to adjustment, including to reflect the impact to the conversion rate upon payment of any dividends to the Company’s stockholders. This effective price reflected a conversion rate for the notes of 24.8295 shares of common stock per $1,000 principal amount of notes.

During the first six months of 2014, holders of the Company’s former 1¹/4% convertible senior subordinated notes converted or the Company repurchased approximately $49.7 million of aggregate principal amount of the notes. In May 2014, the Company announced its election to redeem the remaining $151.5 million balance of the notes with a redemption date of June 20, 2014. Substantially all of the holders of the notes elected to convert their remaining notes prior to the redemption date. The redemptions settled in July 2014. For the year ended December 31, 2014, the Company issued a total of 1,437,465 shares of its common stock associated with the $81.0 million excess conversion value of all notes converted. The Company reflected the repayment of the principal of the notes totaling $201.2 million within “Repurchase or conversion of convertible senior subordinated notes” within the Company’s Consolidated Statements of Cash Flows for the year ended December 31, 2014.

During the year ended December 31, 2013, holders of the Company’s former 1¹/4% convertible senior subordinated notes converted less than $0.1 million of principal amount of the notes. The Company issued 286 shares of its common stock associated with the less than $0.1 million excess conversion value of the notes. The Company reflected the repayment of the principal of the notes totaling less than $0.1 million within “Repurchase or conversion of convertible senior subordinated notes” within the Company’s Consolidated Statements of Cash Flows for the year ended December 31, 2013. Due to the ability of the holders of the notes to convert the notes during the three months ending March 31, 2014, the Company classified the notes as a current liability as of December 31, 2013.

4 ¹/2% Senior Term Loan

The Company’s €200.0 million (or approximately $242.0 million) 4¹/2% senior term loan with Rabobank is due May 2, 2016. The Company has the ability to prepay the term loan before its maturity date. Interest is payable on the term loan at 4¹/2% per annum, payable quarterly in arrears on March 31, June 30, September 30 and December 31 of each year. The term loan contains covenants restricting, among other things, the incurrence of indebtedness and the making of certain payments, including dividends, and is subject to acceleration in the event of default. The Company also has to fulfill financial covenants with respect to a total debt to EBITDA ratio and an interest coverage ratio.

5 ⁷/8% Senior Notes

The Company’s $300.0 million of 5⁷/8% senior notes due 2021 constitute senior unsecured and unsubordinated indebtedness. Interest is payable on the notes semi-annually in arrears on June 1 and December 1 of each year. At any time prior to September 1, 2021, the Company may redeem the notes, in whole or in part from time to time, at its option, at a redemption price equal to the greater of (i) 100% of the principal amount plus accrued and unpaid interest, including additional interest, if any, to, but excluding, the redemption date or (ii) the sum of the present values of the remaining scheduled payments of principal and interest (exclusive of interest accrued to the date of redemption) discounted to the redemption date at the treasury rate plus 0.5%, plus accrued and unpaid interest, including additional interest, if any. Beginning September 1, 2021, the Company may redeem the notes, in whole or in part from time to time, at its option, at a redemption price equal to 100% of the principal amount plus accrued and unpaid interest, including additional interest, if any.

Credit Facility

On June 30, 2014, the Company amended and restated its credit facility agreement, increasing the multi-currency revolving credit facility from $600.0 million to $800.0 million and maintaining its $355.0 million term loan facility. The maturity date of the Company’s credit facility also was extended until June 28, 2019. The Company amended the term loan facility so that it is no longer required to make quarterly payments towards the term loan. Previously, the Company was required to make quarterly payments towards the term loan of $5.0 million that were to increase to $10.0 million commencing March 2015. Interest accrues on amounts outstanding under the credit facility, at the Company’s option, at either (1) LIBOR plus a margin ranging from 1.0% to 2.0% based on the Company’s leverage ratio, or (2) the base rate, which is equal to the higher of (i) the administrative agent’s base lending rate for the applicable currency, (ii) the federal funds rate plus 0.5% and (iii) one-month LIBOR for loans denominated in US dollars plus 1.0% plus a margin ranging from 0.0% to 0.5% based on the Company’s leverage ratio. The credit facility contains covenants restricting, among other things, the incurrence of indebtedness and the making of certain payments, including dividends, and is subject to acceleration in the event of a default. The Company also has to fulfill financial covenants with respect to a total debt to EBITDA ratio and an interest coverage ratio. As of December 31, 2014, the Company had $404.4 million of outstanding borrowings under the credit facility and availability to borrow approximately $750.6 million. As of December 31, 2013, the Company had $360.0 million of outstanding borrowings under its credit facility and availability to borrow approximately $600.0 million.

European Investment Bank (“EIB”) Senior Term Loan

In December 2014, the Company entered into a term loan with the EIB, which provided the Company with the ability to borrow up to €200.0 million. The €200.0 million (or approximately $232.4 million) of funding was received on January 15, 2015 with a maturity date of January 15, 2020. The Company has the ability to prepay the term loan before its maturity date. Interest is payable on the term loan at 1.056% per annum, payable quarterly in arrears on January 15, April 15, July 15 and October 15 of each year. The term loan contains covenants restricting, among other things, the use of funds for certain research and development projects, the incurrence of indebtedness and the making of certain payments, and is subject to acceleration in the event of default. The Company also has to fulfill financial covenants with respect to a net leverage ratio and an interest coverage ratio.

Standby Letters of Credit and Similar Instruments

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 December 31, 2014 and 2013, outstanding letters of credit totaled $18.5 million and $16.7 million, respectively.

Employee Benefit Plans

12 Months Ended

Dec. 31, 2014

Pension and Other Postretirement Benefit Expense [Abstract]

Employee Benefit Plans

The Company sponsors defined benefit pension plans covering certain employees, principally in the United States, the United Kingdom, Germany, Finland, Norway, France, Switzerland and Argentina. The Company also provides certain postretirement health care and life insurance benefits for certain employees, principally in the United States and Brazil.

The Company also maintains an Executive Nonqualified Pension Plan (“ENPP”), which provides U.S.-based senior executives with retirement income for a period of 15 years based on a percentage of the average of their highest three non-consecutive years of base salary and bonus during their final ten years of employment (referred to as their “three-year average compensation”), reduced by the senior executive’s social security benefits and 401(k) employer-matching contributions, as if the executive had made the maximum contribution. The benefit paid to the executives ranges from 2.25% to 3.00% of their three-year average compensation multiplied by credited years of service (subject to a maximum of 20 years). For nearly all participants, benefits under the ENPP vest if the participant has attained age 50 with at least ten years of service (five years of which include years of participation in the ENPP), but are not payable until the participant reaches age 65. The ENPP is an unfunded, nonqualified defined benefit pension plan.

Net annual pension costs for the years ended December 31, 2014, 2013 and 2012 for the Company’s defined benefit pension plans and ENPP are set forth below (in millions):



Pension benefits	2014⁽¹⁾			2013			2012
Service cost	$	16.8		$	18.0		$	17.2
Interest cost	37.3			35.4			39.6
Expected return on plan assets	(44.5		)	(37.6		)	(36.3		)
Amortization of net actuarial loss	9.5			14.0			9.8
Amortization of prior service cost	0.8			0.8			0.8
Settlement loss	0.4			0.1			0.2
Curtailment gain	(0.5		)	—			—
Special termination benefits	1.3			—			—
Net annual pension cost	$	21.0		$	30.7		$	31.3

____________________________________

(1) Rounding may impact summation of amounts.

The weighted average assumptions used to determine the net annual pension costs for the Company’s defined benefit pension plans and ENPP for the years ended December 31, 2014, 2013 and 2012 are as follows:



	2014		2013		2012
All plans:
Weighted average discount rate	4.4	%	4.3	%	5.0	%
Weighted average expected long-term rate of return on plan assets	6.9	%	6.8	%	7.0	%
Rate of increase in future compensation	2.5-5.0%		2.5-5.0%		2.5-5.0%
U.S.-based plans:
Weighted average discount rate	4.75	%	3.85	%	4.6	%
Weighted average expected long-term rate of return on plan assets⁽¹⁾	7.0	%	7.0	%	7.75	%
Rate of increase in future compensation⁽²⁾	5.0	%	5.0	%	5.0	%

___________________________________

(1) Applicable for U.S. funded, qualified plans.

(2) Applicable for U.S. unfunded, nonqualified plan.

Net annual postretirement benefit costs for the years ended December 31, 2014, 2013 and 2012 are set forth below (in millions, except percentages):



Postretirement benefits	2014			2013			2012
Service cost	$	0.1		$	0.1		$	0.1
Interest cost	1.6			1.7			1.5
Amortization of prior service cost (credit)	0.2			0.2			(0.2		)
Amortization of net actuarial loss	0.1			0.5			0.4
Other	0.2			—			—
Net annual postretirement benefit cost	$	2.2		$	2.5		$	1.8
Weighted average discount rate	5.3		%	4.7		%	4.8		%

The following tables set forth reconciliations of the changes in benefit obligation, plan assets and funded status as of December 31, 2014 and 2013 (in millions):



	Pension and ENPP Benefits						Postretirement Benefits
Change in benefit obligation	2014			2013			2014			2013
Benefit obligation at beginning of year	$	888.2		$	881.9		$	30.3		$	37.0
Service cost	16.8			18.0			0.1			0.1
Interest cost	37.3			35.4			1.6			1.7
Plan participants’ contributions	1.3			1.3			—			—
Actuarial loss (gain)	109.6			(10.1		)	(0.7		)	(6.2		)
Settlements	(4.2		)	(0.6		)	—			—
Curtailments	(7.3		)	—			—			—
Benefits paid	(55.9		)	(54.1		)	(1.6		)	(1.8		)
Special termination benefits and other	1.3			—			0.2			—
Foreign currency exchange rate changes	(60.3		)	16.4			(0.3		)	(0.5		)
Benefit obligation at end of year	$	926.8		$	888.2		$	29.6		$	30.3

	Pension and ENPP Benefits						Postretirement Benefits
	Pension and ENPP Benefits						Postretirement Benefits
Change in plan assets	2014			2013			2014			2013
Fair value of plan assets at beginning of year	$	660.7		$	576.7		$	—		$	—
Actual return on plan assets	73.7			81.3			—			—
Employer contributions	43.4			42.2			1.6			1.8
Plan participants’ contributions	1.3			1.3			—			—
Benefits paid	(55.9		)	(54.1		)	(1.6		)	(1.8		)
Settlements	(4.2		)	(0.6		)	—			—
Foreign currency exchange rate changes	(41.8		)	13.9			—			—
Fair value of plan assets at end of year	$	677.2		$	660.7		$	—		$	—
Funded status	$	(249.6	)	$	(227.5	)	$	(29.6	)	$	(30.3	)
Unrecognized net actuarial loss	329.7			265.5			3.3			4.1
Unrecognized prior service cost	3.2			4.6			3.7			3.9
Accumulated other comprehensive loss	(332.9		)	(270.1		)	(7.0		)	(8.0		)
Net amount recognized	$	(249.6	)	$	(227.5	)	$	(29.6	)	$	(30.3	)



Amounts recognized in Consolidated Balance Sheets:
Other current liabilities	$	(3.3	)	$	(4.2	)	$	(1.5	)	$	(1.8	)
Accrued expenses	(5.4		)	(5.4		)	—			—
Pensions and postretirement health care benefits (noncurrent)	(240.9		)	(217.9		)	(28.1		)	(28.5		)
Net amount recognized	$	(249.6	)	$	(227.5	)	$	(29.6	)	$	(30.3	)

The following table summarizes the activity in accumulated other comprehensive loss related to the Company’s ENPP and defined pension and postretirement benefit plans during the years ended December 31, 2014 and 2013 (in millions):



	Before-Tax Amount			Income Tax			After-Tax Amount
Accumulated other comprehensive loss as of December 31, 2012	$	(355.2	)	$	(92.3	)	$	(262.9	)
Net loss recognized due to settlement	0.1			0.1			—
Net actuarial gain arising during the year	60.1			14.9			45.2
Amortization of prior service cost	1.1			0.5			0.6
Amortization of net actuarial loss	14.5			3.8			10.7
Accumulated other comprehensive loss as of December 31, 2013	$	(279.4	)	$	(73.0	)	$	(206.4	)
Net loss recognized due to settlement	0.6			0.2			0.4
Net gain recognized due to curtailment	(0.5		)	(0.1		)	(0.4		)
Net actuarial loss arising during the year	(72.8		)	(18.0		)	(54.8		)
Amortization of prior service cost	1.0			0.4			0.6
Amortization of net actuarial loss	9.6			2.3			7.3
Accumulated other comprehensive loss as of December 31, 2014	$	(341.5	)	$	(88.2	)	$	(253.3	)

As of December 31, 2014, the Company’s accumulated other comprehensive loss included a net actuarial loss of approximately $329.7 million and a net prior service cost of approximately $3.2 million related to the Company’s defined benefit pension plans and ENPP. The estimated net actuarial loss and net prior service cost for the defined benefit pension plans and ENPP expected to be amortized from the Company’s accumulated other comprehensive loss during the year ended December 31, 2015 are approximately $11.4 million and $0.4 million, respectively.

As of December 31, 2014, the Company’s accumulated other comprehensive loss included a net actuarial loss of approximately $3.3 million and a net prior service cost of approximately $3.7 million related to the Company’s U.S. and Brazilian postretirement health care benefit plans. The estimated net actuarial loss and net prior service cost for postretirement health care benefit plans expected to be amortized from the Company’s accumulated other comprehensive loss during the year ended December 31, 2015 are approximately $0.1 million and $0.2 million, respectively.

The aggregate projected benefit obligation, accumulated benefit obligation and fair value of plan assets for defined benefit pension plans, ENPP and other postretirement plans with accumulated benefit obligations in excess of plan assets were $956.4 million, $901.7 million and $677.2 million, respectively, as of December 31, 2014, and $910.6 million, $863.7 million and $653.1 million, respectively, as of December 31, 2013. The projected benefit obligation, accumulated benefit obligation and fair value of plan assets for the Company’s U.S.-based defined benefit pension plans and ENPP with accumulated benefit obligations in excess of plan assets were $102.9 million, $90.2 million and $41.5 million, respectively, as of December 31, 2014, and $85.1 million, $77.4 million and $41.9 million, respectively, as of December 31, 2013. The Company’s accumulated comprehensive loss as of December 31, 2014 reflects a reduction in equity of $339.9 million, net of taxes of $87.6 million, primarily related to the Company’s U.K. pension plan, where the projected benefit obligation exceeded the plan assets. In addition, the Company’s accumulated comprehensive loss as of December 31, 2014 reflects a reduction in equity of approximately $1.6 million, net of taxes of $0.6 million, related to the Company’s GIMA joint venture. The amount represents 50% of GIMA’s unrecognized net actuarial losses and unrecognized prior service cost associated with its pension plan. In addition, GIMA recognized a net actuarial loss due to settlements during 2014 of approximately $0.2 million. The Company’s accumulated comprehensive loss as of December 31, 2013 reflected a reduction in equity of $278.1 million, net of taxes of $72.6 million, primarily related to the Company’s U.K. pension plan, where the projected benefit obligation exceeded the plan assets. In addition, the Company’s accumulated comprehensive loss as of December 31, 2013 reflected a reduction in equity of approximately $1.3 million, net of taxes of $0.4 million, related to the Company’s GIMA joint venture. This amount represented 50% of GIMA’s unrecognized net actuarial losses and unrecognized prior service cost associated with its pension plan.

The weighted average assumptions used to determine the benefit obligation for the Company’s defined benefit pension plans and ENPP as of December 31, 2014 and 2013 are as follows:



	2014		2013
All plans:
Weighted average discount rate	3.5	%	4.4	%
Rate of increase in future compensation	2.5-5.0%		2.5-5.0%
U.S.-based plans:
Weighted average discount rate	4.15	%	4.75	%
Rate of increase in future compensation⁽¹⁾	5.0	%	5.0	%

____________________________________

(1)Applicable for U.S. unfunded, nonqualified plan.

The weighted average discount rate used to determine the benefit obligation for the Company’s postretirement benefit plans for the years ended December 31, 2014 and 2013 was 4.6% and 5.3%, respectively.

For the years ended December 31, 2014, 2013 and 2012, the Company used a globally consistent methodology to set the discount rate in the countries where its largest benefit obligations exist. In the United States, the United Kingdom and the Euro Zone, the Company constructed a hypothetical bond portfolio of high-quality corporate bonds and then applied the cash flows of the Company’s benefit plans to those bond yields to derive a discount rate. The bond portfolio and plan-specific cash flows vary by country, but the methodology in which the portfolio is constructed is consistent. In the United States, the bond portfolio is large enough to result in taking a “settlement approach” to derive the discount rate, where high-quality corporate bonds are assumed to be purchased and the resulting coupon payments and maturities are used to satisfy the Company’s U.S. pension plans’ projected benefit payments. In the United Kingdom and the Euro Zone, the discount rate is derived using a “yield curve approach,” where an individual spot rate, or zero coupon bond yield, for each future annual period is developed to discount each future benefit payment and, thereby, determine the present value of all future payments. Under the settlement and yield curve approaches, the discount rate is set to equal the single discount rate that produces the same present value of all future payments.

For measuring the expected U.S. postretirement benefit obligation at December 31, 2014 and 2013, the Company assumed a 7.0% and 7.5% health care cost trend rate for 2015 and 2014, respectively, decreasing to 5.0% by 2019. For measuring the Brazilian postretirement benefit plan obligation at December 31, 2014, the Company assumed a 12.25% health care cost trend rate for 2015, decreasing to 6.45% by 2025. For measuring the Brazilian postretirement benefit plan obligation at December 31, 2013, the Company assumed a 12.25% health care cost trend rate for 2014, decreasing to 6.45% by 2024. Changing the assumed health care cost trend rates by one percentage point each year and holding all other assumptions constant would have the following effect to service and interest cost for 2014 and the accumulated postretirement benefit obligation at December 31, 2014 (in millions):



	One Percentage Point Increase		One Percentage Point Decrease
Effect on service and interest cost	$	0.2	$	(0.2	)
Effect on accumulated benefit obligation	$	3.8	$	(3.2	)

The Company currently estimates its minimum contributions and benefit payments to its U.S.-based underfunded defined benefit pension plans and unfunded ENPP for 2015 will aggregate approximately $2.9 million. The Company currently estimates its benefit payments for 2015 to its U.S.-based postretirement health care and life insurance benefit plans will aggregate approximately $1.5 million and its benefit payments for 2015 to its Brazilian postretirement health care benefit plans will aggregate approximately less than $0.1 million. The Company currently estimates its minimum contributions for underfunded plans and benefit payments for unfunded plans for 2015 to its non-U.S.-based defined benefit pension plans will aggregate approximately $35.8 million, of which approximately $23.8 million relates to its U.K. pension plan.

During 2014, approximately $60.1 million of benefit payments were made related to the Company’s defined benefit pension plans and ENPP. At December 31, 2014, the aggregate expected benefit payments for the Company’s defined benefit pension plans and ENPP are as follows (in millions):



2015	$	54.9
2016	50.8
2017	52.5
2018	52.5
2019	53.0
2020 through 2024	286.4
	$	550.1

During 2014, approximately $1.6 million of benefit payments were made related to the Company’s U.S. and Brazilian postretirement benefit plans. At December 31, 2014, the aggregate expected benefit payments for the Company’s U.S. and Brazilian postretirement benefit plans are as follows (in millions):



2015	$	1.5
2016	1.6
2017	1.6
2018	1.7
2019	1.7
2020 through 2024	9.2
	$	17.3

Investment Strategy and Concentration of Risk

The weighted average asset allocation of the Company’s U.S. pension benefit plans as of December 31, 2014 and 2013 are as follows:



Asset Category	2014		2013
Large and small cap domestic equity securities	28	%	48	%
International equity securities	10	%	16	%
Domestic fixed income securities	42	%	16	%
Other investments	20	%	20	%
Total	100	%	100	%

The weighted average asset allocation of the Company’s non-U.S. pension benefit plans as of December 31, 2014 and 2013 are as follows:



Asset Category	2014		2013
Equity securities	42	%	45	%
Fixed income securities	38	%	30	%
Other investments	20	%	25	%
Total	100	%	100	%

The Company categorizes its pension plan assets into one of three levels based on the assumptions used in valuing the asset. See Note 13 for a discussion of the fair value hierarchy as per the guidance in ASC 820, “Fair Value Measurements” (“ASC 820”). The Company’s valuation techniques are designed to maximize the use of observable inputs and minimize the use of unobservable inputs. The Company uses the following valuation methodologies to measure the fair value of its pension plan assets:

Equity Securities: Equity securities are valued on the basis of the closing price per unit on each business day as reported on the applicable exchange.

Fixed Income: Fixed income securities are valued using the closing prices in the active market in which the fixed income investment trades. Fixed income funds are valued using the net asset value of the fund, which is based on the fair value of the underlying securities.

Cash: These investments primarily consist of short-term investment funds which are valued using the net asset value.

Alternative Investments and Pooled Funds: These investments are reported at fair value as determined by the general partner of the alternative investment or pooled fund. The “market approach” valuation technique is used to value investments in these funds. The funds typically are open-end funds as they generally offer subscription and redemption options to investors. The frequency of such subscriptions or redemptions is dictated by each fund’s governing documents. The amount of liquidity provided to investors in a particular fund is generally consistent with the liquidity and risk associated with the underlying portfolio (i.e., the more liquid the investments in the portfolio, the greater the liquidity provided to investors). Liquidity of individual funds varies based on various factors and may include “gates,” “holdbacks” and “side pockets” imposed by the manager of the fund, as well as redemption fees that may also apply. Investments in these funds typically are valued utilizing the net asset valuations provided by their underlying investment managers, general partners or administrators. The funds consider subscription and redemption rights, including any restrictions on the disposition of the interest, in its determination of the fair value.

Insurance Contracts: Insurance contracts are valued using current prevailing interest rates.

The fair value of the Company’s pension assets as of December 31, 2014 is as follows (in millions):



	Total		Level 1		Level 2		Level 3
Equity securities:
Global equities	$	135.9	$	135.9	$	—	$	—
Non-U.S. equities	4.3		4.3		—		—
U.K. equities	122.8		122.8		—		—
U.S. large cap equities	7.1		7.1		—		—
U.S. small cap equities	4.5		4.5		—		—
Total equity securities	274.6		274.6		—		—
Fixed income:
Aggregate fixed income	17.5		17.5		—		—
International fixed income	230.5		230.5		—		—
Total fixed income share⁽¹⁾	248.0		248.0		—		—
Cash and equivalents:
Cash	7.5		—		7.5		—
Total cash and equivalents	7.5		—		7.5		—
Alternative investments⁽²⁾	124.3		—		—		124.3
Miscellaneous funds⁽³⁾	22.8		—		—		22.8
Total assets	$	677.2	$	522.6	$	7.5	$	147.1

______________________________________

(1) 39% of “fixed income” securities are in government treasuries; 37% are in investment-grade corporate bonds; and 24% are in other various fixed income securities.

(2) 34% of “alternative investments” are in long-short equity funds; 31% are in event-driven funds; 12% are in relative value funds; 10% are in credit funds; 9% are distributed in hedged and non-hedged funds; and 4% are in multi-strategy funds.

(3) “Miscellaneous funds” is comprised of insurance contracts in Finland, Norway and Switzerland.

The following is a reconciliation of Level 3 assets as of December 31, 2014 (in millions):



	Total			Alternative Investments			Miscellaneous Funds
Beginning balance as of December 31, 2013	$	171.8		$	146.0		$	25.8
Actual return on plan assets:
(a) Relating to assets still held at reporting date	6.3			5.1			1.2
(b) Relating to assets sold during period	2.3			2.3			—
Purchases, sales and /or settlements	(22.6		)	(21.7		)	(0.9		)
Foreign currency exchange rate changes	(10.7		)	(7.4		)	(3.3		)
Ending balance as of December 31, 2014	$	147.1		$	124.3		$	22.8

The fair value of the Company’s pension assets as of December 31, 2013 is as follows (in millions):



	Total		Level 1		Level 2		Level 3
Equity securities:
Global equities	$	132.0	$	132.0	$	—	$	—
Non-U.S. equities	6.7		6.7		—		—
U.K. equities	132.0		132.0		—		—
U.S. large cap equities	13.9		13.9		—		—
U.S. small cap equities	6.2		6.2		—		—
Total equity securities	290.8		290.8		—		—
Fixed income:
Aggregate fixed income	6.5		6.5		—		—
International fixed income	180.8		180.8		—		—
Total fixed income share⁽¹⁾	187.3		187.3		—		—
Cash and equivalents:
Cash	10.8		—		10.8		—
Total cash and equivalents	10.8		—		10.8		—
Alternative investments⁽²⁾	146.0		—		—		146.0
Miscellaneous funds⁽³⁾	25.8		—		—		25.8
Total assets	$	660.7	$	478.1	$	10.8	$	171.8

_______________________________________

(1) 40% of “fixed income” securities are in government treasuries; 31% are in investment-grade corporate bonds; and 29% are in other various fixed income securities.

(2) 35% of “alternative investments” are in long-short equity funds; 29% are in event-driven funds; 12% are in relative value funds; 12% are in credit funds; 7% are distributed in hedged and non-hedged funds; and 5% are in multi-strategy funds.

(3) “Miscellaneous funds” is comprised of pooled funds in Australia and various contracts in Finland, Norway and Switzerland.

The following is a reconciliation of Level 3 assets as of December 31, 2013 (in millions):



	Total		Alternative Investments		Miscellaneous Funds
Beginning balance as of December 31, 2012	$	152.6	$	127.1	$	25.5
Actual return on plan assets:
(a) Relating to assets still held at reporting date	15.4		15.1		0.3
(b) Relating to assets sold during period	0.3		0.3		—
Purchases, sales and /or settlements	0.5		0.3		0.2
Foreign currency exchange rate changes	3.0		3.2		(0.2		)
Ending balance as of December 31, 2013	$	171.8	$	146.0	$	25.8

All tax-qualified pension fund investments in the United States are held in the AGCO Corporation Master Pension Trust. The Company’s global pension fund strategy is to diversify investments across broad categories of equity and fixed income securities with appropriate use of alternative investment categories to minimize risk and volatility. The primary investment objective of the Company’s pension plans is to secure participant retirement benefits. As such, the key objective in the pension plans’ financial management is to promote stability and, to the extent appropriate, growth in funded status.

The investment strategy for the plans’ portfolio of assets balances the requirement to generate returns with the need to control risk. The asset mix is recognized as the primary mechanism to influence the reward and risk structure of the pension fund investments in an effort to accomplish the plans’ funding objectives. The overall investment strategy for the U.S.-based pension plans is to achieve a mix of approximately 15% of assets for the near-term benefit payments and 85% for longer-term growth. The overall U.S. pension funds invest in a broad diversification of asset types. The Company’s U.S. target allocation of retirement fund investments is 30% large- and small-cap domestic equity securities, 12% international equity securities, 44% broad fixed income securities and 14% in alternative investments. The Company has noted that over very long periods, this mix of investments would achieve an average return of approximately 6.0%. The overall investment strategy for the non-U.S. based pension plans is to achieve a mix of approximately 30% of assets for the near-term benefit payments and 70% for longer-term growth. The overall non-U.S. pension funds invest in a broad diversification of asset types. The Company’s non-U.S. target allocation of retirement fund investments is 45% equity securities, 35% broad fixed income investments and 20% in alternative investments. The majority of the Company’s non-U.S. pension fund investments are related to the Company’s pension plan in the United Kingdom. The Company has noted that over very long periods, this mix of investments would achieve an average return of approximately 7.3%. In arriving at the choice of an expected return assumption of 7.0% for its U.K.-based plans for the year ended December 31, 2015, the Company has tempered this historical indicator with lower expectations for returns and equity investment in the future as well as the administrative costs of the plans.

Equity securities primarily include investments in large-cap and small-cap companies located across the globe. Fixed income securities include corporate bonds of companies from diversified industries, mortgage-backed securities, agency mortgages, asset-backed securities and government securities. Alternative and other assets include investments in hedge fund of funds that follow diversified investment strategies. To date, the Company has not invested pension funds in its own stock and has no intention of doing so in the future.

Within each asset class, careful consideration is given to balancing the portfolio among industry sectors, geographies, interest rate sensitivity, dependence on economic growth, currency and other factors affecting investment returns. The assets are managed by professional investment firms, who are bound by precise mandates and are measured against specific benchmarks. Among asset managers, consideration is given, among others, to balancing security concentration, issuer concentration, investment style and reliance on particular active investment strategies.

The Company participates in a small number of multiemployer plans in the Netherlands and Sweden. The Company has assessed and determined that none of the multiemployer plans which it participates in are individually, or in the aggregate, significant to the Company’s Consolidated Financial Statements. The Company does not expect to incur a withdrawal liability or expect to significantly increase its contributions over the remainder of the multiemployer plans’ contract periods.

The Company maintains separate defined contribution plans covering certain employees, primarily in the United States, the United Kingdom and Brazil. Under the plans, the Company contributes a specified percentage of each eligible employee’s compensation. The Company contributed approximately $13.3 million, $13.0 million and $11.7 million for the years ended December 31, 2014, 2013 and 2012, respectively.

Stockholders' Equity

12 Months Ended

Dec. 31, 2014

Stockholders' Equity Note [Abstract]

Stockholders' Equity

Stockholders’ Equity

The following table sets forth changes in accumulated other comprehensive loss by component, net of tax, attributed to AGCO Corporation and its subsidiaries for the years ended December 31, 2014 and 2013 (in millions):



	Defined Benefit Pension Plans			Cumulative Translation Adjustment			Deferred Net Gains (Losses) on Derivatives			Total
Accumulated other comprehensive (loss) income, December 31, 2012	$	(262.9	)	$	(217.2	)	$	0.7		$	(479.4	)
Other comprehensive gain (loss) before reclassifications	45.2			(86.9		)	(1.4		)	(43.1		)
Net losses reclassified from accumulated other comprehensive loss	11.3			—			0.5			11.8
Other comprehensive income (loss), net of reclassification adjustments	56.5			(86.9		)	(0.9		)	(31.3		)
Accumulated other comprehensive loss, December 31, 2013	(206.4		)	(304.1		)	(0.2		)	(510.7		)
Other comprehensive loss before reclassifications	(54.8		)	(349.0		)	(1.4		)	(405.2		)
Net losses reclassified from accumulated other comprehensive loss	7.9			—			1.5			9.4
Other comprehensive (loss) income, net of reclassification adjustments	(46.9		)	(349.0		)	0.1			(395.8		)
Accumulated other comprehensive loss, December 31, 2014	$	(253.3	)	$	(653.1	)	$	(0.1	)	$	(906.5	)

The following table sets forth reclassification adjustments out of accumulated other comprehensive loss by component attributed to AGCO Corporation and its subsidiaries for the years ended December 31, 2014 and 2013 (in millions):



Details about Accumulated Other Comprehensive Loss Components	Amount Reclassified from Accumulated Other Comprehensive Loss						Affected Line Item within the Consolidated Statements of Operations
	Year ended December 31, 2014 ⁽¹⁾			Year ended December 31, 2013 ⁽¹⁾
Net losses on cash flow hedges	$	1.4		$	0.7		Cost of goods sold
	0.1			(0.2		)	Income tax provision
Reclassification net of tax	$	1.5		$	0.5

Defined benefit pension plans:
Amortization of net actuarial loss	$	9.6		$	14.5		⁽²⁾
Amortization of prior service cost	1.0			1.1			⁽²⁾
Reclassification before tax	10.6			15.6
	(2.7		)	(4.3		)	Income tax provision
Reclassification net of tax	$	7.9		$	11.3

Net losses reclassified from accumulated other comprehensive loss	$	9.4		$	11.8

____________________________________

(1) Losses included within the Consolidated Statements of Operations for the years ended December 31, 2014 and 2013, respectively.

(2) These accumulated other comprehensive loss components are included in the computation of net periodic pension and postretirement benefit cost. See Note 8 to the Company’s Consolidated Financial Statements.

Common Stock

At December 31, 2014, the Company had 150.0 million authorized shares of common stock with a par value of $0.01 per share, with approximately 89.1 million shares of common stock outstanding and approximately 3.6 million shares reserved for issuance under the Company’s 2006 Long-Term Incentive Plan (the “2006 Plan”) (Note 10).

Share Repurchase Program

In July 2012, the Company’s Board of Directors approved a share repurchase program under which the Company is permitted to repurchase up to $50.0 million of shares of its common stock. This share repurchase program does not have an expiration date. In December 2013, the Company’s Board of Directors approved a second share repurchase program under which the Company is permitted to repurchase up to $500.0 million of shares of its common stock through an expiration date of June 2015. In December 2014, the Board of Directors approved a third share repurchase program under which the Company can repurchase an additional $500.0 million of shares of its common stock through December 2016.

During 2014, through open market transactions, the Company repurchased 1.8 million shares of its common stock for approximately $84.7 million at an average price paid of $46.60 per share. During 2013, through open market transactions, the Company repurchased less than 0.1 million shares of its common stock for approximately $1.0 million at an average price paid of $49.34 per share. During 2012, through open market transactions, the Company repurchased 0.4 million shares of its common stock for approximately $17.6 million at an average price of $43.14 per share. Repurchased shares were retired on the date of purchase, and the excess of the purchase price over par value per share was recorded to “Additional paid-in capital” within the Company’s Consolidated Balance Sheets.

During 2014, the Company entered into three accelerated repurchase agreements (“ASRs”) with a financial institution to repurchase an aggregate of $415.0 million of shares of the Company’s common stock. The Company received approximately 8.2 million shares during the year ended December 31, 2014 related to these ASRs. All shares received under the ASRs were retired upon receipt, and the excess of the purchase price over par value per share was recorded to “Additional paid-in capital” within the Company’s Consolidated Balance Sheets.

Of the $1,050.0 million in approved share repurchase programs, the remaining amount authorized to be repurchased is approximately $531.7 million.

During 2015, the Company entered into an ASR with a financial institution to repurchase an aggregate of $62.5 million of shares of the Company’s common stock. The Company received approximately 0.9 million shares to date in this transaction. The specific number of shares the Company will ultimately repurchase will be determined at the completion of the term of the ASR based on the daily volume-weighted average share price of the Company’s common stock less an agreed-upon discount. Upon settlement of the ASR, the Company may be entitled to receive additional shares of common stock, or under certain circumstances, be required to remit a settlement amount. The Company expects that additional shares will be received by the Company upon final settlement of its current ASR, which expires during the second quarter of 2015. All shares received under the ASR discussed above were retired upon receipt and the excess of the purchase price over par value per share was recorded to “Additional paid-in capital” within the Company’s Consolidated Balance Sheets.

Dividends

On January 24, 2013, the Company’s Board of Directors approved the initiation of quarterly cash dividends to our stockholders. A quarterly dividend of $0.10 per common share was paid to each of the Company’s stockholders during 2013. On January 24, 2014, the Company’s Board of Directors approved an increase in the quarterly dividend from $0.10 per common share to $0.11 per common share beginning in the first quarter of 2014. On January 22, 2015, the Company’s Board of Directors approved an increase in the quarterly dividend from $0.11 per common share to $0.12 per common share beginning in the first quarter of 2015.

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(d),(e))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21484-112644

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB TOPIC 4.E)
-URI http://asc.fasb.org/extlink&oid=27010918&loc=d3e74512-122707

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21488-112644

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.29-31)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 4
-Subparagraph (SAB TOPIC 4.C)
-URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187143-122770

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
-Section 50
-Paragraph 6
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-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
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Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Preferred Stock
-URI http://asc.fasb.org/extlink&oid=6521494

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Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Paragraph d
-Article 4

Reference 15: http://www.xbrl.org/2003/role/presentationRef
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-Name Regulation S-X (SX)
-Number 210
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Reference 16: http://www.xbrl.org/2003/role/presentationRef
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-Name Staff Accounting Bulletin (SAB)
-Number Topic 4
-Section E

Reference 17: http://www.xbrl.org/2003/role/presentationRef
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-Name Regulation S-X (SX)
-Number 210
-Section 08
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Reference 18: http://www.xbrl.org/2003/role/presentationRef
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-Name Staff Accounting Bulletin (SAB)
-Number Topic 4
-Section C

Reference 19: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Article 3

Derivative Instruments and Hedges, Assets [Abstract]

Stock Incentive Plan

12 Months Ended

Dec. 31, 2014

Share-based Compensation [Abstract]

Stock Incentive Plans

Stock Incentive Plan

Under the 2006 Plan, up to 10.0 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, restricted stock units and restricted stock awards to employees, officers and non-employee directors of the Company.

Long-Term Incentive Plan

The Company’s primary long-term incentive plan is a performance share plan that provides for awards of shares of the Company’s common stock based on achieving financial targets, such as targets for earnings per share and return on invested capital, as determined by the Company’s Board of Directors. The Company’s other long-term incentive plan includes the margin growth incentive plan, which provides for awards of shares of the Company’s common stock based on achieving operating margin targets as determined by the Company’s Board of Directors. The stock awards under the 2006 Plan are earned over a performance period, and the number of shares earned is determined based on the cumulative or average results for the period, depending on the measurement. Performance periods for the long-term incentive plan are consecutive and overlapping three-year cycles, and performance targets are set at the beginning of each cycle. The primary long-term incentive plan provides for participants to earn 33% to 200% of the target awards depending on the actual performance achieved, with no shares earned if performance is below the established minimum target. The performance period for the margin growth incentive plan is a three- to five-year cycle commencing in January 2011 and performance targets were set at the beginning of the cycle. The margin growth incentive plan provides for participants to earn 33% to 300% of the target awards depending on the actual performance achieved, with no shares earned if performance is below the established minimum target. Awards earned under the 2006 Plan are paid in shares of common stock at the end of each performance period. The compensation expense associated with these awards 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.

Compensation expense recorded during 2014, 2013 and 2012 with respect to awards granted was based upon the stock price as of the grant date. The weighted average grant-date fair value of performance awards granted under the 2006 Plan during 2014, 2013 and 2012 was as follows:



	Years Ended December 31,
	2014		2013		2012
Weighted average grant-date fair value	$	53.87	$	51.51	$	52.11

The 2006 Plan allows for the participant 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 participant’s statutory minimum federal, state and employment taxes which would be payable at the time of grant. Based on the level of performance achieved as of December 31, 2014 and 2013, the following shares were earned under the related performance period and issued in the subsequent year, net of shares that were withheld for taxes related to the earned awards:



	Years Ended December 31,
	2014	2013
Shares earned at year-end	286,804	622,018
Shares withheld for taxes on the earned awards	113,334	226,721
Shares issued subsequent to year-end, net	173,470	395,297	⁽¹⁾

____________________________________

(1) 26,800 shares were issued during 2013.

During 2014, the Company granted 887,198 performance awards for the three-year performance period commencing in 2014 and ending in 2016. The awards granted assume the maximum target level of performance is achieved.

Performance award transactions during 2014 were as follows and are presented as if the Company were to achieve its maximum levels of performance under the plan:



Shares awarded but not earned at January 1	2,808,519
Shares awarded	887,198
Shares forfeited or unearned	(317,684	)
Shares earned	(896,266	)
Shares awarded but not earned at December 31	2,481,767

During the year ended December 31, 2014, the Company recorded a credit of approximately $16.9 million for the reversal of previously recorded stock compensation expense to reflect the Company’s projected level of performance for the margin growth incentive plan and all three-year cycles under the Company’s primary long-term incentive plan. The Company currently projects that the minimum target level of performance related to the 2013-2015 and the 2014-2016 three-year cycles and the margin growth incentive plan will not be achieved and earned, and therefore, there will be no compensation cost related to unearned performance awards not yet recognized with respect to those cycles.

Stock-settled Appreciation Rights

In addition to the performance share plans, certain executives and key managers are eligible to receive grants of SSARs. The SSARs provide a participant with the right to receive the aggregate appreciation in stock price over the market price of the Company’s common stock at the date of grant, payable in shares of the Company’s common stock. The participant may exercise his or her SSARs at any time after the grant is vested but no later than seven years after the date of grant. The SSARs vest ratably over a four-year period from the date of grant. SSAR award grants made to certain executives and key managers under the 2006 Plan are made with the base price equal to the price of the Company’s common stock on the date of grant. The Company recorded stock compensation expense of approximately $5.2 million, $4.7 million and $3.8 million associated with SSAR award grants during 2014, 2013 and 2012, respectively. The compensation expense associated with these awards is being amortized ratably over the vesting period. The Company estimated the fair value of the grants using the Black-Scholes option pricing model.

The weighted average grant-date fair value of SSARs granted under the 2006 Plan and the weighted average assumptions under the Black-Scholes option model were as follows for the years ended December 31, 2014, 2013 and 2012:



	Years Ended December 31,
	2014			2013			2012
Weighted average grant-date fair value	$	13.11		$	21.10		$	22.50
Weighted average assumptions under Black-Scholes option model:
Expected life of awards (years)	3.0			5.5			5.5
Risk-free interest rate	0.9		%	0.9		%	0.8		%
Expected volatility	35.7		%	50.3		%	51.0		%
Expected dividend yield	0.8		%	0.8		%	—

SSAR transactions during the year ended December 31, 2014 were as follows:



SSARs outstanding at January 1	1,094,836
SSARs granted	301,400
SSARs exercised	(112,050		)
SSARs canceled or forfeited	(63,362		)
SSARs outstanding at December 31	1,220,824
SSAR price ranges per share:
Granted	$ 52.85 - 55.23
Exercised	21.45 - 52.94
Canceled or forfeited	21.45 - 56.98
Weighted average SSAR exercise prices per share:
Granted	$	55.20
Exercised	23.08
Canceled or forfeited	53.31
Outstanding at December 31	50.31

At December 31, 2014, the weighted average remaining contractual life of SSARs outstanding was approximately four years. As of December 31, 2014, the total compensation cost related to unvested SSARs not yet recognized was approximately $8.6 million and the weighted-average period over which it is expected to be recognized is approximately two 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 as of December 31, 2014:



	SSARs Outstanding				SSARs Exercisable
Range of Exercise Prices	Number of Shares	Weighted Average Remaining Contractual Life (Years)	Weighted Average Exercise Price		Exercisable as of December 31, 2014	Weighted Average Exercise Price
$21.45 - $32.01	56,625	1.2	$	22.64	56,625	$	22.64
$33.65 - $43.39	125,525	2.1	$	33.88	124,800	$	33.82
$47.89 - $63.64	1,038,674	4.5	$	53.80	414,652	$	53.56
	1,220,824				596,077	$	46.49

The total fair value of SSARs vested during 2014 was approximately $4.3 million. There were 624,747 SSARs that were not vested as of December 31, 2014. The total intrinsic value of both outstanding and exercisable SSARs as of December 31, 2014 was $2.7 million. The total intrinsic value of SSARs exercised during 2014 was approximately $2.6 million.

The shortfall in tax benefit realized for tax deductions in the United States related to the exercise of SSARs and vesting of performance awards under the 2006 Plan was approximately $0.2 million for the year ended December 31, 2014. The excess tax benefit realized for tax deductions in the United States related to the exercise of SSARs, vesting of performance awards under the 2006 Plan and exercise of stock options under the Company’s 1991 Stock Option Plan was approximately $11.4 million for the year ended December 31, 2013. No excess tax benefit was realized for tax deductions for the year ended December 31, 2012 in the United States. The Company realized an insignificant tax benefit from the exercise of SSARs, vesting of performance awards and exercise of stock options in certain foreign jurisdictions during the years ended December 31, 2014, 2013 and 2012.

On January 21, 2015, the Company granted 358,950 performance award shares (subject to the Company achieving future target levels of performance), 325,200 SSARs, and 142,150 of restricted stock units under the 2006 Plan.

Director Restricted Stock Grants

Pursuant to the 2006 Plan, all non-employee directors receive annual restricted stock grants of the Company’s common stock. All restricted stock grants made to the Company’s directors prior to April 24, 2014 were restricted as to transferability for a period of three years. Effective April 24, 2014, the shares granted on that date and all future grants made to the Company’s directors are restricted as to transferability for a period of one year. 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 2014 grant was made on April 24, 2014 and equated to 18,846 shares of common stock, of which 14,907 shares of common stock were issued, after shares were withheld for taxes. The Company recorded stock compensation expense of approximately $1.1 million during 2014 associated with these grants.

As of December 31, 2014, of the 10.0 million shares reserved for issuance under the 2006 Plan, approximately 3.6 million shares were available for grant, assuming the maximum number of shares are earned related to the performance award grants discussed above.

Derivative Instruments and Hedging Activities

12 Months Ended

Dec. 31, 2014

Derivative Instruments and Hedging Activities

All derivatives are recognized on the Company’s 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 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 policies allow for the use of derivative instruments to hedge exposures to movements in foreign currency and interest rates. The Company’s policies prohibit the use of derivative instruments for speculative purposes.

The Company categorizes its assets and liabilities into one of three levels based on the assumptions used in valuing the asset or liability. See Note 13 for a discussion of the fair value hierarchy as per the guidance in ASC 820. The Company’s valuation techniques are designed to maximize the use of observable inputs and minimize the use of unobservable inputs.

Cash Flow Hedges

During 2014, 2013 and 2012, 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 were recorded in other comprehensive loss and are subsequently reclassified into cost of goods sold during the period the sales and purchases are recognized. These amounts offset the effect of the changes in foreign currency rates on the related sale and purchase transactions. The amount of the net loss recorded in other comprehensive loss that was reclassified to cost of goods sold during the years ended December 31, 2014, 2013 and 2012 was approximately $1.5 million, $0.5 million and $8.1 million, respectively, on an after-tax basis. The amount of the unrealized (loss) gain recorded to other comprehensive loss related to the outstanding cash flow hedges as of December 31, 2014, 2013 and 2012 was approximately $(0.1) million, $(0.2) million and $0.7 million, respectively, on an after-tax basis. The outstanding contracts as of December 31, 2014 range in maturity through December 2015.

The following table summarizes the activity in accumulated other comprehensive loss related to the derivatives held by the Company during the years ended December 31, 2014, 2013 and 2012 (in millions):



	Before-Tax Amount			Income Tax ⁽¹⁾			After-Tax Amount ⁽¹⁾
Accumulated derivative net losses as of December 31, 2011	$	(5.4	)	$	(1.1	)	$	(4.3	)
Net changes in fair value of derivatives	(2.0		)	1.1			(3.1		)
Net losses reclassified from accumulated other comprehensive loss into income	8.5			0.4			8.1
Accumulated derivative net gains as of December 31, 2012	1.1			0.4			0.7
Net changes in fair value of derivatives	(2.1		)	(0.7		)	(1.4		)
Net losses reclassified from accumulated other comprehensive loss into income	0.7			0.2			0.5
Accumulated derivative net losses as of December 31, 2013	(0.3		)	(0.1		)	(0.2		)
Net changes in fair value of derivatives	(1.3		)	0.1			(1.4		)
Net losses reclassified from accumulated other comprehensive loss into income	1.4			(0.1		)	1.5
Accumulated derivative net losses as of December 31, 2014	$	(0.2	)	$	(0.1	)	$	(0.1	)

____________________________________

(1) Rounding may impact summation of amounts.

As of December 31, 2014 and 2013, the Company had outstanding foreign currency contracts with a notional amount of approximately $23.8 million and $50.3 million, respectively, that were entered into to hedge forecasted sale and purchase transactions.

Derivative Transactions Not Designated as Hedging Instruments

During 2014, 2013 and 2012, 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 December 31, 2014 and 2013, the Company had outstanding foreign currency contracts with a notional amount of approximately $1,810.5 million and $1,288.4 million, respectively, 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 years ended December 31, 2014, 2013 and 2012, the Company recorded a net loss of approximately $2.3 million, a net gain of approximately $9.5 million and a net gain of approximately $5.5 million, respectively, related to these contracts within “Other expense, net” in the Company’s Consolidated Statements of Operations. 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 December 31, 2014 (in millions):



	Asset Derivatives as of December 31, 2014			Liability Derivatives as of December 31, 2014
	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Derivative instruments designated as hedging instruments:
Foreign currency contracts	Other current assets	$	—	Other current liabilities	$	0.2
Derivative instruments not designated as hedging instruments:
Foreign currency contracts	Other current assets	11.3		Other current liabilities	20.3
Total derivative instruments		$	11.3		$	20.5

The table below sets forth the fair value of derivative instruments as of December 31, 2013 (in millions):



	Asset Derivatives as of December 31, 2013			Liability Derivatives as of December 31, 2013
	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Derivative instruments designated as hedging instruments:
Foreign currency contracts	Other current assets	$	—	Other current liabilities	$	0.1
Derivative instruments not designated as hedging instruments:
Foreign currency contracts	Other current assets	13.9		Other current liabilities	5.3
Total derivative instruments		$	13.9		$	5.4

The Company had unrealized (losses) gains of approximately $(9.2) million and $8.5 million on foreign currency contracts outstanding at December 31, 2014 and 2013, respectively, related to both designated and non-designated contracts. The Company recorded approximately $(9.0) million and $8.6 million of unrealized (losses) gains within “Other expense, net” in the Consolidated Statements of Operations for the years ended December 31, 2014 and 2013, respectively, related to non-designated contracts.

Counterparty Risk

The Company regularly monitors the counterparty risk and credit ratings of all the counterparties to the derivative instruments. 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.

The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts.

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Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

12 Months Ended

Dec. 31, 2014

Commitments and Contingencies

The future payments required under the Company’s significant commitments, excluding indebtedness, as of December 31, 2014 are as follows (in millions):



	Payments Due By Period
	2015		2016		2017		2018		2019		Thereafter		Total
Interest payments related to indebtedness⁽¹⁾	$	35.0	$	24.8	$	19.2	$	18.2	$	40.5	$	29.6	$	167.3
Capital lease obligations	2.0		1.3		0.6		0.1		—		—		4.0
Operating lease obligations	52.2		35.5		24.8		18.2		11.6		51.9		194.2
Unconditional purchase obligations⁽²⁾	100.2		16.9		8.1		5.6		0.1		—		130.9
Other short-term and long-term obligations⁽³⁾	107.8		34.2		40.9		52.5		44.0		123.4		402.8
Total contractual cash obligations	$	297.2	$	112.7	$	93.6	$	94.6	$	96.2	$	204.9	$	899.2

____________________________________

(1) Estimated interest payments are calculated assuming current interest rates over minimum maturity periods specified in debt agreements. Debt may be repaid sooner or later than such minimum maturity periods (unaudited).

(2) Unconditional purchase obligations exclude routine purchase orders entered into in the normal course of business.

(3) Other short-term and long-term obligations include estimates of future minimum contribution requirements under the Company’s U.S. and non-U.S. defined benefit pension and postretirement plans. These estimates are based on current legislation in the countries the Company operates within and are subject to change. Other short-term and long-term obligations also include income tax liabilities related to uncertain income tax positions connected with ongoing income tax audits in various jurisdictions (unaudited).



	Amount of Commitment Expiration Per Period
	2015		2016		2017		2018		2019		Thereafter		Total
Guarantees	$	124.7	$	2.6	$	1.6	$	0.7	$	0.1	$	—	$	129.7

Off-Balance Sheet Arrangements

Guarantees

The Company maintains a remarketing agreement with its U.S. finance joint venture, whereby the Company is obligated to repurchase repossessed inventory at market values. The Company has an agreement with its U.S. finance joint venture 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 December 31, 2014, the Company guaranteed indebtedness owed to third parties of approximately $129.7 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 2019. 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 expect to be able to recover a significant portion of the amounts paid under such guarantees from the sale of the underlying financed farm equipment, as the fair value of such equipment is expected to be sufficient to offset a substantial portion of the amounts paid.

Other

At December 31, 2014, the Company had outstanding designated and non-designated foreign exchange contracts with a gross notional amount of approximately $1,834.3 million. The outstanding contracts as of December 31, 2014 range in maturity through December 2015 (Note 11).

The Company sells substantially all of its wholesale accounts receivable in North America to the Company’s U.S. and Canadian finance joint ventures and a large portion of its wholesale accounts receivable to its finance joint ventures in Europe. The Company also sells certain accounts receivable under factoring arrangements to financial institutions around the world. The Company reviewed the sale of such receivables and determined that these facilities should be accounted for as off-balance sheet transactions.

Total lease expense under noncancelable operating leases was $73.9 million, $72.8 million and $68.8 million for the years ended December 31, 2014, 2013 and 2012, respectively.

Contingencies

On June 27, 2008, the Republic of Iraq filed a civil action in federal court in the Southern District of New York, Case No. 08 CIV 59617, naming as defendants one of the Company’s French subsidiaries 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. On February 6, 2013, the federal court dismissed the complaint with prejudice. The federal appeals court affirmed that decision. The time period during which the plaintiff can petition the U.S. Supreme Court for a Writ of Certiorari has not yet expired. 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.

On October 30, 2012, a third-party complaint was filed in federal court in the Southern District of Texas, Case No. 09 CIV 03884, naming as defendants one of the Company’s French subsidiaries and two of its other foreign subsidiaries. Sixty other entities or companies also were named as third-party defendants. The complaint asserts claims against the defendants, certain of which are also third-party plaintiffs, seeking unspecified damages arising from their participation in the Program. The third-party plaintiffs seek contribution from the third-party defendants. On February 12, 2014, the federal court dismissed the third-party complaint with prejudice. The third-party plaintiffs have not appealed this dismissal, but have until after the resolution of the underlying case to do so. Although the Company’s subsidiaries intend to vigorously defend against this action, it is not possible at this time to predict the outcome of the action or its impact, if any, on the Company, although if the outcome was adverse, the Company could be required to pay damages.

In August 2008, as part of routine audits, 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 December 31, 2014, not including interest and penalties, was approximately 131.5 million Brazilian reais (or approximately $49.5 million). The amount ultimately in dispute will be greater because of interest and penalties. 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 statements as a whole, including its results of operations and financial condition.

Fair Value

12 Months Ended

Dec. 31, 2014

Fair Value Disclosures [Abstract]

Fair Value Disclosures

Fair Value of Financial Instruments

The Company categorizes its assets and liabilities into one of three levels based on the assumptions used in valuing the asset or liability. Estimates of fair value for financial assets and liabilities are based on a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. Observable inputs (highest level) reflect market data obtained from independent sources, while unobservable inputs (lowest level) reflect internally developed market assumptions. In accordance with this guidance, fair value measurements are classified under the following hierarchy:

Level 1 - Quoted prices in active markets for identical assets or liabilities.

Level 2 - Quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; and model-derived valuations in which all significant inputs are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.

Level 3 - Model-derived valuations in which one or more significant inputs are unobservable.

The Company categorizes its pension plan assets into one of the three levels of the fair value hierarchy. See Note 8 for a discussion of the valuation methods used to measure the fair value of the Company’s pension plan assets.

The Company enters into foreign currency contracts that are primarily forward and options contracts (Note 11). 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.

Foreign currency contracts measured at fair value on a recurring basis as of December 31, 2014 and 2013 are summarized below (in millions):



	As of December 31, 2014
	Level 1		Level 2		Level 3		Total
Derivative assets	$	—	$	11.3	$	—	$	11.3
Derivative liabilities	$	—	$	20.5	$	—	$	20.5



	As of December 31, 2013
	Level 1		Level 2		Level 3		Total
Derivative assets	$	—	$	13.9	$	—	$	13.9
Derivative liabilities	$	—	$	5.4	$	—	$	5.4

Cash and cash equivalents, accounts and notes receivable, and accounts payable are valued at their carrying amounts in the Company’s Consolidated Balance Sheets, due to the immediate or short-term maturity of these financial instruments.

The carrying amounts of long-term debt under the Company’s 4¹/2% senior term loan and credit facility (Note 7) approximate fair value based on the borrowing rates currently available to the Company for loans with similar terms and average maturities. At December 31, 2014, the estimated fair value of the Company’s 5⁷/8% senior notes (Note 7), based on its listed market value, was $337.6 million, compared to its carrying value of $300.0 million. At December 31, 2013, the estimated fair values of the Company’s 5⁷/8% senior notes and 1¹/4% convertible notes (Note 7), based on their listed market values, were $322.1 million and $290.5 million, respectively, compared to their carrying values of $300.0 million and $201.2 million, respectively.

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Related Party Transactions	12 Months Ended
Related Party Transactions	Dec. 31, 2014
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions Rabobank, a financial institution based in the Netherlands, is a 51% owner in the Company’s finance joint ventures, which are located in the United States, Canada, Europe, Brazil, Argentina and Australia. Rabobank is also the principal agent and participant in the Company’s revolving credit facility (Note 7). The majority of the assets of the Company’s finance joint ventures represents finance receivables. The majority of the liabilities represents notes payable and accrued interest. Under the various joint venture agreements, Rabobank or its affiliates provide financing to the joint venture companies, primarily through lines of credit. During 2014, the Company did not make additional investments in its finance joint ventures. During 2013 and 2012, the Company made a total of approximately $15.5 million and $7.1 million, respectively, of additional investments in its finance joint ventures in Germany and the Netherlands, primarily related to additional capital required as a result of increased retail finance portfolios during 2013 and 2012. The Company’s finance joint ventures provide retail financing and wholesale financing to its dealers. The terms of the financing arrangements offered to the Company’s dealers are similar to arrangements the finance joint ventures provide to unaffiliated third parties. In addition, the Company transfers, on an ongoing basis, a majority of its wholesale receivables in North America and Europe to its 49% owned U.S., Canadian and European finance joint ventures (Note 4). The Company maintains a remarketing agreement with its U.S. finance joint venture (Note 12). In addition, as part of sales incentives provided to end users, the Company may from time to time subsidize interest rates of retail financing provided by its finance joint ventures. The cost of those programs is recognized at the time of sale to the Company’s dealers. Tractors and Farm Equipment Limited (“TAFE”), in which the Company holds a 23.75% interest, manufactures Massey Ferguson-branded equipment primarily in India and also supplies tractors and components to the Company for sale in other markets. Mallika Srinivasan, who is the Chairman and Chief Executive Officer of TAFE, is currently a member of the Company’s Board of Directors. As of December 31, 2014, TAFE owned 11,196,271 shares of the Company’s common stock. The Company and TAFE are parties to an agreement pursuant to which, among other things, TAFE has agreed not to purchase in excess of 12,170,290 shares of the Company’s common stock, subject to certain adjustments, and the Company has agreed to annually nominate a TAFE representative to its Board of Directors. During 2014, 2013 and 2012, the Company purchased approximately $149.0 million, $90.7 million and $104.5 million, respectively, of tractors and components from TAFE. During 2014, 2013 and 2012, the Company sold approximately $2.1 million, $0.8 million and $0.3 million, respectively, of parts to TAFE. The Company received dividends from TAFE of approximately $1.8 million, $1.6 million and $1.3 million during 2014, 2013 and 2012, respectively. During 2014, 2013 and 2012, the Company paid approximately $3.4 million, $3.3 million and $3.8 million, respectively, to PPG Industries, Inc. for painting materials used in the Company’s manufacturing processes. The Company’s Chairman, President and Chief Executive Officer is currently a member of the board of directors of PPG Industries, Inc. During 2014 and 2013, the Company paid approximately $2.2 million and $2.3 million, respectively, to Ryerson, Inc. for steel used in the Company’s manufacturing processes. Michael Arnold, who is the President and Chief Executive Officer of Ryerson, Inc., is currently a member of the Company’s Board of Directors.

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References + Details

Segment Reporting

12 Months Ended

Dec. 31, 2014

Segment Reporting [Abstract]

Segment Reporting

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 years ended December 31, 2014, 2013 and 2012 based on the Company’s current reportable segments are as follows (in millions):



Years Ended December 31,	North America		South America		Europe/Africa/ Middle East		Asia/Pacific			Consolidated
2014
Net sales		$2,414.2		$1,663.4		$5,158.5		$487.6			$9,723.7
Income (loss) from operations	219.2		134.0		500.2		(11.5		)	841.9
Depreciation	60.1		26.5		138.7		14.1			239.4
Assets	1,026.9		719.8		2,036.0		353.8			4,136.5
Capital expenditures	70.9		45.6		136.3		48.7			301.5
2013
Net sales		$2,757.8		$2,039.7		$5,481.5		$507.9			$10,786.9
Income from operations	325.9		212.7		558.2		0.5			1,097.3
Depreciation	51.4		24.6		126.6		9.0			211.6
Assets	1,002.8		773.5		2,368.9		289.5			4,434.7
Capital expenditures	73.4		66.4		204.5		47.5			391.8
2012
Net sales		$2,584.4		$1,855.7		$5,073.7		$448.4			$9,962.2
Income from operations	259.9		161.6		474.9		10.2			906.6
Depreciation	41.5		22.7		107.0		9.4			180.6
Assets	907.4		674.9		2,114.2		295.8			3,992.3
Capital expenditures	64.0		48.3		211.6		16.6			340.5

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



	2014			2013			2012
Segment income from operations	$	841.9		$	1,097.3		$	906.6
Corporate expenses	(117.7		)	(116.2		)	(107.1		)
Stock compensation credit (expense)	9.7			(32.6		)	(34.6		)
Restructuring and other infrequent expenses	(46.4		)	—			—
Impairment charge	—			—			(22.4		)
Amortization of intangibles	(41.0		)	(47.8		)	(49.3		)
Consolidated income from operations	$	646.5		$	900.7		$	693.2

Segment assets	$	4,136.5		$	4,434.7		$	3,992.3
Cash and cash equivalents	363.7			1,047.2			781.3
Receivables from affiliates	108.4			124.3			41.5
Investments in affiliates	424.1			416.1			390.3
Deferred tax assets, other current and noncurrent assets	616.6			672.2			716.9
Intangible assets, net	553.8			565.6			607.1
Goodwill	1,192.8			1,178.7			1,192.4
Consolidated total assets	$	7,395.9		$	8,438.8		$	7,721.8

Net sales by customer location for the years ended December 31, 2014, 2013 and 2012 were as follows (in millions):



	2014		2013		2012
Net sales:
United States	$	1,985.4	$	2,216.5	$	2,033.1
Canada	333.9		419.4		415.9
Germany	1,240.0		1,301.0		1,114.4
France	828.4		1,136.8		944.3
United Kingdom and Ireland	490.8		471.8		481.0
Finland and Scandinavia	808.4		828.5		790.2
Other Europe	1,376.0		1,422.6		1,421.0
South America	1,646.2		2,018.5		1,834.2
Middle East and Africa	414.9		320.7		322.9
Asia	253.6		293.1		232.4
Australia and New Zealand	234.1		214.8		216.0
Mexico, Central America and Caribbean	112.0		143.2		156.8
	$	9,723.7	$	10,786.9	$	9,962.2

Net sales by product for the years ended December 31, 2014, 2013 and 2012 were as follows (in millions):



	2014		2013		2012
Net sales:
Tractors	$	5,566.8	$	6,491.1	$	5,882.4
Replacement parts	1,390.1		1,349.1		1,286.7
Other machinery	875.3		1,001.0		963.2
Grain storage and protein production systems	851.0		771.9		728.5
Combines	581.0		652.8		638.9
Application equipment	459.5		521.0		462.5
	$	9,723.7	$	10,786.9	$	9,962.2

Property, plant and equipment and amortizable intangible assets by country as of December 31, 2014 and 2013 was as follows (in millions):



	2014		2013
United States	$	666.7	$	634.4
Finland	192.5		221.3
Germany	420.8		498.1
Brazil	204.1		218.4
Italy	101.8		117.6
China	138.7		112.3
France	83.2		87.3
Other	187.4		184.8
	$	1,995.2	$	2,074.2

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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Valuation and Qualifying Accounts [Abstract]

Schedule II - Valuation and Qualifying Account

12 Months Ended

Dec. 31, 2014

Valuation and Qualifying Accounts Disclosure

SCHEDULE II

AGCO CORPORATION AND SUBSIDIARIES

SCHEDULE II — VALUATION AND QUALIFYING ACCOUNTS

(In millions)



			Additions
Description	Balance at Beginning of Period		Acquired Businesses		Charged to Costs and Expenses		Deductions			Foreign Currency Translation		Balance at End of Period ⁽¹⁾
Year ended December 31, 2014
Allowances for sales incentive discounts	$	236.6	$	—	$	300.7	$	(282.3	)	$	—	$	255.0
Year ended December 31, 2013
Allowances for sales incentive discounts	$	165.2	$	—	$	374.6	$	(303.2	)	$	—	$	236.6
Year ended December 31, 2012
Allowances for sales incentive discounts	$	103.5	$	—	$	330.8	$	(269.1	)	$	—	$	165.2



			Additions
Description	Balance at Beginning of Period		Acquired Businesses		Charged to Costs and Expenses		Deductions			Foreign Currency Translation			Balance at End of Period
Year ended December 31, 2014
Allowances for doubtful accounts	$	34.9	$	0.5	$	1.7	$	(1.2	)	$	(3.8	)	$	32.1
Year ended December 31, 2013
Allowances for doubtful accounts	$	38.1	$	—	$	3.2	$	(5.0	)	$	(1.4	)	$	34.9
Year ended December 31, 2012
Allowances for doubtful accounts	$	36.9	$	0.4	$	5.4	$	(4.8	)	$	0.2		$	38.1



			Additions
Description	Balance at Beginning of Period		Charged to Costs and Expenses		Reversal of Accrual		Deductions			Foreign Currency Translation			Balance at End of Period
Year ended December 31, 2014
Accruals of severance, relocation and other integration costs	$	—	$	44.4	$	—	$	(18.8	)	$	(0.2	)	$	25.4
Year ended December 31, 2013
Accruals of severance, relocation and other integration costs	$	—	$	—	$	—	$	—		$	—		$	—
Year ended December 31, 2012
Accruals of severance, relocation and other integration costs	$	0.3	$	—	$	—	$	(0.3	)	$	—		$	—



			Additions
Description	Balance at Beginning of Period		Acquired Businesses		Charged (Credited) to Costs and Expenses			Deductions			Foreign Currency Translation			Balance at End of Period
Year ended December 31, 2014
Deferred tax valuation allowance	$	77.2	$	—	$	22.8		$	—		$	(6.7	)	$	93.3
Year ended December 31, 2013
Deferred tax valuation allowance	$	74.5	$	—	$	9.3		$	(2.8	)	$	(3.8	)	$	77.2
Year ended December 31, 2012
Deferred tax valuation allowance	$	145.8	$	0.2	$	(64.3	)	$	(4.7	)	$	(2.5	)	$	74.5

_____________________________________

(1) As of December 31, 2014, approximately $236.5 million of this balance was recorded within “Accrued expenses” and approximately $18.5 million was recorded within “accounts receivable allowances” in the Company’s Consolidated Balance Sheets. As of December 31, 2013, approximately $206.2 million of this balance was recorded within “Accrued expenses” and approximately $30.4 million was recorded within “accounts receivable allowances” in the Company’s Consolidated Balance Sheets.

Operations and Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2014

Operations and Summary of Significant Accounting Policies [Abstract]

Basis of Presentation

Basis of Presentation and Consolidation

Use of Estimates

Revenue Recognition

Foreign Currency Transaction

Foreign Currency Translation

Cash and Cash Equivalents

Accounts and Notes Receivable

The following summarizes by geographic region, as a percentage of our consolidated net sales, amounts with maximum interest-free periods as presented below (in millions):



Year Ended December 31, 2014	North America		South America		Europe/Africa/ Middle East		Asia/Pacific		Consolidated
0 to 6 months	$	1,856.3	$	1,663.4	$	5,097.9	$	487.6	$	9,105.2	93.6	%
7 to 12 months	510.2		—		59.2		—		569.4		5.9	%
13 to 23 months	47.7		—		1.4		—		49.1		0.5	%
	$	2,414.2	$	1,663.4	$	5,158.5	$	487.6	$	9,723.7	100	%



	2014		2013
Sales incentive discounts	$	18.5	$	30.4
Doubtful accounts	32.1		34.9
	$	50.6	$	65.3

Inventories

Inventories, net at December 31, 2014 and 2013 were as follows (in millions):



	2014		2013
Finished goods	$	616.6	$	775.7
Repair and replacement parts	536.4		550.2
Work in process	130.5		109.0
Raw materials	467.2		581.2
Inventories, net	$	1,750.7	$	2,016.1

Cash flows related to the sale of inventories are reported within “Cash flows from operating activities” within the Company’s Consolidated Statements of Cash Flows.

Property, Plant and Equipment

Goodwill, Intangible Assets and Long-Lived Assets

Goodwill, Other Intangible Assets and Long-Lived Assets

Amortization of certain Intangible Assets

The Company amortizes certain acquired identifiable intangible assets primarily on a straight-line basis over their estimated useful lives, which range from five to 50 years.

Warranty Reserves

Insurance Reserves

Research and Development Expenses

Research and development expenses are expensed as incurred and are included in engineering expenses in the Company’s Consolidated Statements of Operations.

Advertising Costs

Shipping and Handling Expenses

Income Taxes

Net Income Per Common Share

Comprehensive Income (Loss)

Financial Instruments

Derivatives

Recent Accounting Pronouncements

Operations and Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2014

Operations and Summary of Significant Accounting Policies [Abstract]

Accounts Receivable Outstanding as a Percent of Net Sales

The following summarizes by geographic region, as a percentage of our consolidated net sales, amounts with maximum interest-free periods as presented below (in millions):



Year Ended December 31, 2014	North America		South America		Europe/Africa/ Middle East		Asia/Pacific		Consolidated
0 to 6 months	$	1,856.3	$	1,663.4	$	5,097.9	$	487.6	$	9,105.2	93.6	%
7 to 12 months	510.2		—		59.2		—		569.4		5.9	%
13 to 23 months	47.7		—		1.4		—		49.1		0.5	%
	$	2,414.2	$	1,663.4	$	5,158.5	$	487.6	$	9,723.7	100	%

Trade Allowances and Sales Incentive Discounts

Accounts and notes receivable allowances at December 31, 2014 and 2013 were as follows (in millions):



	2014		2013
Sales incentive discounts	$	18.5	$	30.4
Doubtful accounts	32.1		34.9
	$	50.6	$	65.3

Schedule of Inventory, Current

Inventories, net at December 31, 2014 and 2013 were as follows (in millions):



	2014		2013
Finished goods	$	616.6	$	775.7
Repair and replacement parts	536.4		550.2
Work in process	130.5		109.0
Raw materials	467.2		581.2
Inventories, net	$	1,750.7	$	2,016.1

Property, Plant and Equipment

Property, plant and equipment, net at December 31, 2014 and 2013 consisted of the following (in millions):



	2014			2013
Land	$	113.6		$	125.6
Buildings and improvements	688.4			698.5
Machinery and equipment	2,039.9			2,013.4
Furniture and fixtures	127.6			127.3
Gross property, plant and equipment	2,969.5			2,964.8
Accumulated depreciation and amortization	(1,439.1		)	(1,362.5		)
Property, plant and equipment, net	$	1,530.4		$	1,602.3

Schedule of Goodwill

Changes in the carrying amount of goodwill during the years ended December 31, 2014, 2013 and 2012 are summarized as follows (in millions):



	North America		South America			Europe/Africa/ Middle East			Asia/Pacific			Consolidated
Balance as of December 31, 2011	$	415.9	$	212.2		$	496.8		$	69.6		$	1,194.5
Acquisition	0.8		29.0			—			(3.7		)	26.1
Impairment charge	—		—			—			(9.1		)	(9.1		)
Adjustments related to income taxes	—		—			(7.8		)	—			(7.8		)
Foreign currency translation	—		(21.9		)	9.3			1.3			(11.3		)
Balance as of December 31, 2012	416.7		219.3			498.3			58.1			1,192.4
Acquisition	7.3		—			—			—			7.3
Adjustments related to income taxes	—		—			(8.0		)	—			(8.0		)
Foreign currency translation	—		(28.6		)	16.3			(0.7		)	(13.0		)
Balance as of December 31, 2013	424.0		190.7			506.6			57.4			1,178.7
Acquisition	89.6		—			—			—			89.6
Foreign currency translation	—		(21.0		)	(52.0		)	(2.5		)	(75.5		)
Balance as of December 31, 2014	$	513.6	$	169.7		$	454.6		$	54.9		$	1,192.8

Schedule of Acquired Finite-Lived Intangible Assets by Major Class

Changes in the carrying amount of acquired intangible assets during 2014 and 2013 are summarized as follows (in millions):



	Trademarks and Trade Names			Customer Relationships			Patents and Technology			Land Use Rights			Total
Gross carrying amounts:
Balance as of December 31, 2012	$	118.9		$	507.8		$	87.6		$	8.7		$	723.0
Acquisition	—			—			—			6.0			6.0
Foreign currency translation	(0.3		)	(5.1		)	1.5			0.2			(3.7		)
Balance as of December 31, 2013	118.6			502.7			89.1			14.9			725.3
Acquisition	7.0			28.0			11.3			—			46.3
Settlement of purchase consideration	—			—			—			(4.8		)	(4.8		)
Foreign currency translation	(2.1		)	(16.9		)	(6.4		)	(0.4		)	(25.8		)
Balance as of December 31, 2014	$	123.5		$	513.8		$	94.0		$	9.7		$	741.0



	Trademarks and Trade Names			Customer Relationships			Patents and Technology			Land Use Rights		Total
Accumulated amortization:
Balance as of December 31, 2012	$	24.9		$	126.6		$	54.1		$	2.5	$	208.1
Amortization expense	6.2			38.4			3.0			0.2		47.8
Foreign currency translation	(0.1		)	(4.3		)	1.9			—		(2.5		)
Balance as of December 31, 2013	31.0			160.7			59.0			2.7		253.4
Amortization expense	6.2			31.4			3.2			0.2		41.0
Foreign currency translation	(0.8		)	(11.3		)	(6.1		)	—		(18.2		)
Balance as of December 31, 2014	$	36.4		$	180.8		$	56.1		$	2.9	$	276.2

The acquired intangible assets have a weighted average useful life as follows:



Intangible Asset	Weighted-Average Useful Life
Patents and technology	14	years
Customer relationships	14	years
Trademarks and trade names	21	years
Land use rights	46	years

Schedule of Indefinite-lived Intangible Assets by Major Class



	Trademarks and Trade Names
Indefinite-lived intangible assets:
Balance as of December 31, 2012	$	92.2
Foreign currency translation	1.5
Balance as of December 31, 2013	93.7
Foreign currency translation	(4.7		)
Balance as of December 31, 2014	$	89.0

Schedule of Accrued Liabilities

Accrued expenses at December 31, 2014 and 2013 consisted of the following (in millions):



	2014		2013
Reserve for volume discounts and sales incentives	$	467.7	$	494.1
Warranty reserves	245.7		255.9
Accrued employee compensation and benefits	232.8		285.8
Accrued taxes	108.4		167.3
Other	189.5		186.1
	$	1,244.1	$	1,389.2

Schedule of Product Warranty Liability

The warranty reserve activity for the years ended December 31, 2014, 2013 and 2012 consisted of the following (in millions):



	2014			2013			2012
Balance at beginning of the year	$	294.9		$	256.9		$	240.5
Acquisitions	0.5			—			0.1
Accruals for warranties issued during the year	214.1			200.3			184.5
Settlements made (in cash or in kind) during the year	(205.5		)	(165.7		)	(171.7		)
Foreign currency translation	(19.4		)	3.4			3.5
Balance at the end of the year	$	284.6		$	294.9		$	256.9

Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs

Stock compensation expense (credit) was recorded as follows (in millions). Refer to Note 10 for additional information regarding the Company’s stock incentive plans during 2014, 2013 and 2012:



	Years Ended December 31,
	2014			2013		2012
Cost of goods sold	$	(0.9	)	$	2.3	$	2.4
Selling, general and administrative expenses	(9.7		)	32.6		34.6
Total stock compensation expense (credit)	$	(10.6	)	$	34.9	$	37.0

Schedule of Components of Interest Expense, Net

Interest expense, net for the years ended December 31, 2014, 2013 and 2012 consisted of the following (in millions):



	2014			2013			2012
Interest expense	$	71.9		$	78.8		$	77.7
Interest income	(13.5		)	(20.8		)	(20.1		)
	$	58.4		$	58.0		$	57.6

Schedule of Earnings Per Share, Basic and Diluted

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 net income per share during the years ended December 31, 2014, 2013 and 2012 is as follows (in millions, except per share data):



	2014		2013		2012
Basic net income per share:
Net income attributable to AGCO Corporation and subsidiaries	$	410.4	$	597.2	$	522.1
Weighted average number of common shares outstanding	93.4		97.3		97.1
Basic net income per share attributable to AGCO Corporation and subsidiaries	$	4.39	$	6.14	$	5.38
Diluted net income per share:
Net income attributable to AGCO Corporation and subsidiaries	$	410.4	$	597.2	$	522.1
Weighted average number of common shares outstanding	93.4		97.3		97.1
Dilutive stock options, SSARs, performance share awards and restricted stock awards	0.3		0.8		1.0
Weighted average assumed conversion of contingently convertible senior subordinated notes	0.5		1.3		0.5
Weighted average number of common shares and common share equivalents outstanding for purposes of computing diluted net income per share	94.2		99.4		98.6
Diluted net income per share attributable to AGCO Corporation and subsidiaries	$	4.36	$	6.01	$	5.30

Schedule of Comprehensive Income (Loss)

The components of other comprehensive loss and the related tax effects for the years ended December 31, 2014, 2013 and 2012 are as follows (in millions):



	AGCO Corporation and Subsidiaries								Noncontrolling Interests
	2014								2014
	Before-tax Amount			Income Taxes		After-tax Amount			After-tax Amount
Defined benefit pension plans	$	(62.1	)	$	15.2	$	(46.9	)	$	—
Net gain on derivatives	0.1			—		0.1			—
Foreign currency translation adjustments	(349.0		)	—		(349.0		)	(0.3		)
Total components of other comprehensive loss	$	(411.0	)	$	15.2	$	(395.8	)	$	(0.3	)



	AGCO Corporation and Subsidiaries									Noncontrolling Interests
	2013									2013
	Before-tax Amount			Income Taxes			After-tax Amount			After-tax Amount
Defined benefit pension plans	$	75.8		$	(19.3	)	$	56.5		$	—
Net loss on derivatives	(1.4		)	0.5			(0.9		)	—
Foreign currency translation adjustments	(86.9		)	—			(86.9		)	(0.3		)
Total components of other comprehensive loss	$	(12.5	)	$	(18.8	)	$	(31.3	)	$	(0.3	)



	AGCO Corporation and Subsidiaries									Noncontrolling Interests
	2012									2012
	Before-tax Amount			Income Taxes			After-tax Amount			After-tax Amount
Defined benefit pension plans	$	(32.5	)	$	9.8		$	(22.7	)	$	—
Net gain on derivatives	6.5			(1.5		)	5.0			—
Foreign currency translation adjustments	(61.1		)	—			(61.1		)	(1.6		)
Total components of other comprehensive loss	$	(87.1	)	$	8.3		$	(78.8	)	$	(1.6	)

Acquisitions (Tables)

12 Months Ended

Dec. 31, 2014

Schedule Of Acquired Other Identifiable Intangible Assets



Intangible Asset	Amount		Weighted-Average Useful Life
Customer relationships	$	28.0	15	years
Technology	11.3		15	years
Trademarks	7.0		16	years
	$	46.3

Investments in Affiliates (Tables)

12 Months Ended

Dec. 31, 2014

Investments in Affiliates [Abstract]

Investments in and Advances to Affiliates

Investments in affiliates as of December 31, 2014 and 2013 were as follows (in millions):



	2014		2013
Finance joint ventures	$	389.0	$	390.2
Manufacturing joint ventures	19.6		16.1
Other affiliates	15.5		9.8
	$	424.1	$	416.1

Equity in Earnings of Affiliates

The Company’s equity in net earnings of affiliates for the years ended December 31, 2014, 2013 and 2012 were as follows (in millions):



	2014		2013			2012
Finance joint ventures	$	48.8	$	48.8		$	48.6
Manufacturing and other joint ventures	4.1		(0.6		)	4.9
	$	52.9	$	48.2		$	53.5

Schedule of Equity Method Investments



	December 31,
	2014		2013
Total assets	$	8,836.4	$	9,442.7
Total liabilities	8,042.9		8,646.3
Partners’ equity	793.5		796.4



	For the Years Ended December 31,
	2014		2013		2012
Revenues	$	383.4	$	389.2	$	377.8
Costs	234.7		239.4		226.5
Income before income taxes	$	148.7	$	149.8	$	151.3

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2014

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign

The sources of income before income taxes and equity in net earnings of affiliates were as follows for the years ended December 31, 2014, 2013 and 2012 (in millions):



	2014		2013		2012
United States	$	63.5	$	133.1	$	98.0
Foreign	475.5		669.5		502.8
Income before income taxes and equity in net earnings of affiliates	$	539.0	$	802.6	$	600.8

Schedule of Components of Income Tax Expense (Benefit)

The provision for income taxes by location of the taxing jurisdiction for the years ended December 31, 2014, 2013 and 2012 consisted of the following (in millions):



	2014			2013			2012
Current:
United States:
Federal	$	12.6		$	9.2		$	(5.5	)
State	2.8			9.9			2.8
Foreign	168.7			217.7			177.0
	184.1			236.8			174.3
Deferred:
United States:
Federal	(0.4		)	30.2			(27.0		)
State	—			—			—
Foreign	4.0			(8.5		)	(9.4		)
	3.6			21.7			(36.4		)
	$	187.7		$	258.5		$	137.9

Schedule of Effective Income Tax Rate Reconciliation



	2014			2013			2012
Provision for income taxes at United States federal statutory rate of 35%	$	188.7		$	280.9		$	210.3
State and local income taxes, net of federal income tax benefit	2.6			5.6			3.9
Taxes on foreign income which differ from the United States statutory rate	(33.4		)	(34.7		)	(19.8		)
Tax effect of permanent differences	(10.3		)	(7.6		)	11.5
Change in valuation allowance	22.8			9.3			(64.3		)
Change in tax contingency reserves	25.2			25.7			20.8
Research and development tax credits	(7.1		)	(19.9		)	(26.3		)
Other	(0.8		)	(0.8		)	1.8
	$	187.7		$	258.5		$	137.9

Schedule of Deferred Tax Assets and Liabilities

The significant components of the deferred tax assets and liabilities at December 31, 2014 and 2013 were as follows (in millions):



	2014			2013
Deferred Tax Assets:
Net operating loss carryforwards	$	75.7		$	69.7
Sales incentive discounts	85.5			68.7
Inventory valuation reserves	33.9			29.4
Pensions and postretirement health care benefits	76.7			69.7
Warranty and other reserves	104.8			108.5
Research and development tax credits	—			13.2
Other	53.4			64.0
Total gross deferred tax assets	430.0			423.2
Valuation allowance	(93.3		)	(77.2		)
Total net deferred tax assets	336.7			346.0
Deferred Tax Liabilities:
Tax over book depreciation and amortization	311.0			314.7
Other	21.5			21.6
Total deferred tax liabilities	332.5			336.3
Net deferred tax assets	$	4.2		$	9.7
Amounts recognized in Consolidated Balance Sheets:
Deferred tax assets - current	$	217.2		$	241.2
Deferred tax assets - noncurrent	25.8			24.4
Other current liabilities	—			(4.7		)
Deferred tax liabilities - noncurrent	(238.8		)	(251.2		)
	$	4.2		$	9.7

Summary of Income Tax Contingencies

A reconciliation of the beginning and ending balances of the total amounts of gross unrecognized tax benefits as of and during the years ended December 31, 2014 and 2013 is as follows (in millions):



	2014			2013
Gross unrecognized income tax benefits	$	122.2		$	94.5
Additions for tax positions of the current year	21.8			34.7
Additions for tax positions of prior years	11.0			3.6
Additions for tax positions related to acquisitions	(0.6		)	—
Reductions for tax positions of prior years for:
Changes in judgments	(2.2		)	(9.0		)
Settlements during the period	(1.9		)	—
Lapses of applicable statute of limitations	(5.4		)	(3.6		)
Foreign currency translation	(14.3		)	2.0
Gross unrecognized income tax benefits	$	130.6		$	122.2

Indebtedness (Tables)

12 Months Ended

Dec. 31, 2014

Indebtedness [Abstract]

Components of Indebtedness

Indebtedness consisted of the following at December 31, 2014 and 2013 (in millions):



	December 31, 2014			December 31, 2013
4½% Senior term loan due 2016	$	242.0		$	275.0
Credit facility, expires 2019	404.4			360.0
5⁷/8% Senior notes due 2021	300.0			300.0
Other long-term debt	145.5			114.0
1¹/4% Convertible senior subordinated notes due 2036	—			201.2
	1,091.9			1,250.2
Less: Current portion of long-term debt	(94.3		)	(110.5		)
1¹/4% Convertible senior subordinated notes due 2036	—			(201.2		)
Total indebtedness, less current portion	$	997.6		$	938.5

Maturities of Long-term Debt

At December 31, 2014, the aggregate scheduled maturities of long-term debt, excluding the current portion of long-term debt, are as follows (in millions):



2016	$	268.0
2017	24.5
2018	4.8
2019	384.9
Thereafter	315.4
	$	997.6

Interest Expense Recognized on Convertible Senior Subordinated Notes



	Years Ended December 31,
	2014		2013		2012
1¼% Convertible senior subordinated notes:
Interest expense	$	0.9	$	11.7	$	11.2

Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2014

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

Schedule of Defined Benefit Plans

The following tables set forth reconciliations of the changes in benefit obligation, plan assets and funded status as of December 31, 2014 and 2013 (in millions):



	Pension and ENPP Benefits						Postretirement Benefits
Change in benefit obligation	2014			2013			2014			2013
Benefit obligation at beginning of year	$	888.2		$	881.9		$	30.3		$	37.0
Service cost	16.8			18.0			0.1			0.1
Interest cost	37.3			35.4			1.6			1.7
Plan participants’ contributions	1.3			1.3			—			—
Actuarial loss (gain)	109.6			(10.1		)	(0.7		)	(6.2		)
Settlements	(4.2		)	(0.6		)	—			—
Curtailments	(7.3		)	—			—			—
Benefits paid	(55.9		)	(54.1		)	(1.6		)	(1.8		)
Special termination benefits and other	1.3			—			0.2			—
Foreign currency exchange rate changes	(60.3		)	16.4			(0.3		)	(0.5		)
Benefit obligation at end of year	$	926.8		$	888.2		$	29.6		$	30.3

	Pension and ENPP Benefits						Postretirement Benefits
	Pension and ENPP Benefits						Postretirement Benefits
Change in plan assets	2014			2013			2014			2013
Fair value of plan assets at beginning of year	$	660.7		$	576.7		$	—		$	—
Actual return on plan assets	73.7			81.3			—			—
Employer contributions	43.4			42.2			1.6			1.8
Plan participants’ contributions	1.3			1.3			—			—
Benefits paid	(55.9		)	(54.1		)	(1.6		)	(1.8		)
Settlements	(4.2		)	(0.6		)	—			—
Foreign currency exchange rate changes	(41.8		)	13.9			—			—
Fair value of plan assets at end of year	$	677.2		$	660.7		$	—		$	—
Funded status	$	(249.6	)	$	(227.5	)	$	(29.6	)	$	(30.3	)
Unrecognized net actuarial loss	329.7			265.5			3.3			4.1
Unrecognized prior service cost	3.2			4.6			3.7			3.9
Accumulated other comprehensive loss	(332.9		)	(270.1		)	(7.0		)	(8.0		)
Net amount recognized	$	(249.6	)	$	(227.5	)	$	(29.6	)	$	(30.3	)



Amounts recognized in Consolidated Balance Sheets:
Other current liabilities	$	(3.3	)	$	(4.2	)	$	(1.5	)	$	(1.8	)
Accrued expenses	(5.4		)	(5.4		)	—			—
Pensions and postretirement health care benefits (noncurrent)	(240.9		)	(217.9		)	(28.1		)	(28.5		)
Net amount recognized	$	(249.6	)	$	(227.5	)	$	(29.6	)	$	(30.3	)

Schedule of Accumulated Other Comprehensive Income (Loss)



	Defined Benefit Pension Plans			Cumulative Translation Adjustment			Deferred Net Gains (Losses) on Derivatives			Total
Accumulated other comprehensive (loss) income, December 31, 2012	$	(262.9	)	$	(217.2	)	$	0.7		$	(479.4	)
Other comprehensive gain (loss) before reclassifications	45.2			(86.9		)	(1.4		)	(43.1		)
Net losses reclassified from accumulated other comprehensive loss	11.3			—			0.5			11.8
Other comprehensive income (loss), net of reclassification adjustments	56.5			(86.9		)	(0.9		)	(31.3		)
Accumulated other comprehensive loss, December 31, 2013	(206.4		)	(304.1		)	(0.2		)	(510.7		)
Other comprehensive loss before reclassifications	(54.8		)	(349.0		)	(1.4		)	(405.2		)
Net losses reclassified from accumulated other comprehensive loss	7.9			—			1.5			9.4
Other comprehensive (loss) income, net of reclassification adjustments	(46.9		)	(349.0		)	0.1			(395.8		)
Accumulated other comprehensive loss, December 31, 2014	$	(253.3	)	$	(653.1	)	$	(0.1	)	$	(906.5	)

Effect of One-Percentage-Point Change in Assumed Health Care Cost Trend Rates

Changing the assumed health care cost trend rates by one percentage point each year and holding all other assumptions constant would have the following effect to service and interest cost for 2014 and the accumulated postretirement benefit obligation at December 31, 2014 (in millions):



	One Percentage Point Increase		One Percentage Point Decrease
Effect on service and interest cost	$	0.2	$	(0.2	)
Effect on accumulated benefit obligation	$	3.8	$	(3.2	)

Pension Benefits

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

Net Pension And Postretirement Cost

Net annual pension costs for the years ended December 31, 2014, 2013 and 2012 for the Company’s defined benefit pension plans and ENPP are set forth below (in millions):



Pension benefits	2014⁽¹⁾			2013			2012
Service cost	$	16.8		$	18.0		$	17.2
Interest cost	37.3			35.4			39.6
Expected return on plan assets	(44.5		)	(37.6		)	(36.3		)
Amortization of net actuarial loss	9.5			14.0			9.8
Amortization of prior service cost	0.8			0.8			0.8
Settlement loss	0.4			0.1			0.2
Curtailment gain	(0.5		)	—			—
Special termination benefits	1.3			—			—
Net annual pension cost	$	21.0		$	30.7		$	31.3

____________________________________

(1) Rounding may impact summation of amounts.

Assumptions Used

The weighted average assumptions used to determine the benefit obligation for the Company’s defined benefit pension plans and ENPP as of December 31, 2014 and 2013 are as follows:



	2014		2013
All plans:
Weighted average discount rate	3.5	%	4.4	%
Rate of increase in future compensation	2.5-5.0%		2.5-5.0%
U.S.-based plans:
Weighted average discount rate	4.15	%	4.75	%
Rate of increase in future compensation⁽¹⁾	5.0	%	5.0	%

____________________________________

(1)Applicable for U.S. unfunded, nonqualified plan.



	2014		2013		2012
All plans:
Weighted average discount rate	4.4	%	4.3	%	5.0	%
Weighted average expected long-term rate of return on plan assets	6.9	%	6.8	%	7.0	%
Rate of increase in future compensation	2.5-5.0%		2.5-5.0%		2.5-5.0%
U.S.-based plans:
Weighted average discount rate	4.75	%	3.85	%	4.6	%
Weighted average expected long-term rate of return on plan assets⁽¹⁾	7.0	%	7.0	%	7.75	%
Rate of increase in future compensation⁽²⁾	5.0	%	5.0	%	5.0	%

___________________________________

(1) Applicable for U.S. funded, qualified plans.

(2) Applicable for U.S. unfunded, nonqualified plan.

Schedule of Accumulated Other Comprehensive Income (Loss)



	Before-Tax Amount			Income Tax			After-Tax Amount
Accumulated other comprehensive loss as of December 31, 2012	$	(355.2	)	$	(92.3	)	$	(262.9	)
Net loss recognized due to settlement	0.1			0.1			—
Net actuarial gain arising during the year	60.1			14.9			45.2
Amortization of prior service cost	1.1			0.5			0.6
Amortization of net actuarial loss	14.5			3.8			10.7
Accumulated other comprehensive loss as of December 31, 2013	$	(279.4	)	$	(73.0	)	$	(206.4	)
Net loss recognized due to settlement	0.6			0.2			0.4
Net gain recognized due to curtailment	(0.5		)	(0.1		)	(0.4		)
Net actuarial loss arising during the year	(72.8		)	(18.0		)	(54.8		)
Amortization of prior service cost	1.0			0.4			0.6
Amortization of net actuarial loss	9.6			2.3			7.3
Accumulated other comprehensive loss as of December 31, 2014	$	(341.5	)	$	(88.2	)	$	(253.3	)

Allocation of Plan Assets

The fair value of the Company’s pension assets as of December 31, 2013 is as follows (in millions):



	Total		Level 1		Level 2		Level 3
Equity securities:
Global equities	$	132.0	$	132.0	$	—	$	—
Non-U.S. equities	6.7		6.7		—		—
U.K. equities	132.0		132.0		—		—
U.S. large cap equities	13.9		13.9		—		—
U.S. small cap equities	6.2		6.2		—		—
Total equity securities	290.8		290.8		—		—
Fixed income:
Aggregate fixed income	6.5		6.5		—		—
International fixed income	180.8		180.8		—		—
Total fixed income share⁽¹⁾	187.3		187.3		—		—
Cash and equivalents:
Cash	10.8		—		10.8		—
Total cash and equivalents	10.8		—		10.8		—
Alternative investments⁽²⁾	146.0		—		—		146.0
Miscellaneous funds⁽³⁾	25.8		—		—		25.8
Total assets	$	660.7	$	478.1	$	10.8	$	171.8

_______________________________________

(1) 40% of “fixed income” securities are in government treasuries; 31% are in investment-grade corporate bonds; and 29% are in other various fixed income securities.

(3) “Miscellaneous funds” is comprised of pooled funds in Australia and various contracts in Finland, Norway and Switzerland

The fair value of the Company’s pension assets as of December 31, 2014 is as follows (in millions):



	Total		Level 1		Level 2		Level 3
Equity securities:
Global equities	$	135.9	$	135.9	$	—	$	—
Non-U.S. equities	4.3		4.3		—		—
U.K. equities	122.8		122.8		—		—
U.S. large cap equities	7.1		7.1		—		—
U.S. small cap equities	4.5		4.5		—		—
Total equity securities	274.6		274.6		—		—
Fixed income:
Aggregate fixed income	17.5		17.5		—		—
International fixed income	230.5		230.5		—		—
Total fixed income share⁽¹⁾	248.0		248.0		—		—
Cash and equivalents:
Cash	7.5		—		7.5		—
Total cash and equivalents	7.5		—		7.5		—
Alternative investments⁽²⁾	124.3		—		—		124.3
Miscellaneous funds⁽³⁾	22.8		—		—		22.8
Total assets	$	677.2	$	522.6	$	7.5	$	147.1

______________________________________

(1) 39% of “fixed income” securities are in government treasuries; 37% are in investment-grade corporate bonds; and 24% are in other various fixed income securities.

(3) “Miscellaneous funds” is comprised of insurance contracts in Finland, Norway and Switzerland.

Reconciliation of Significant Unobservable Inputs, Changes in Plan Assets

The following is a reconciliation of Level 3 assets as of December 31, 2014 (in millions):



	Total			Alternative Investments			Miscellaneous Funds
Beginning balance as of December 31, 2013	$	171.8		$	146.0		$	25.8
Actual return on plan assets:
(a) Relating to assets still held at reporting date	6.3			5.1			1.2
(b) Relating to assets sold during period	2.3			2.3			—
Purchases, sales and /or settlements	(22.6		)	(21.7		)	(0.9		)
Foreign currency exchange rate changes	(10.7		)	(7.4		)	(3.3		)
Ending balance as of December 31, 2014	$	147.1		$	124.3		$	22.8

The following is a reconciliation of Level 3 assets as of December 31, 2013 (in millions):



	Total		Alternative Investments		Miscellaneous Funds
Beginning balance as of December 31, 2012	$	152.6	$	127.1	$	25.5
Actual return on plan assets:
(a) Relating to assets still held at reporting date	15.4		15.1		0.3
(b) Relating to assets sold during period	0.3		0.3		—
Purchases, sales and /or settlements	0.5		0.3		0.2
Foreign currency exchange rate changes	3.0		3.2		(0.2		)
Ending balance as of December 31, 2013	$	171.8	$	146.0	$	25.8

Expected Benefit Payments

At December 31, 2014, the aggregate expected benefit payments for the Company’s defined benefit pension plans and ENPP are as follows (in millions):



2015	$	54.9
2016	50.8
2017	52.5
2018	52.5
2019	53.0
2020 through 2024	286.4
	$	550.1

U.S. Based Pension Benefit Plans

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

Allocation of Plan Assets

The weighted average asset allocation of the Company’s U.S. pension benefit plans as of December 31, 2014 and 2013 are as follows:



Asset Category	2014		2013
Large and small cap domestic equity securities	28	%	48	%
International equity securities	10	%	16	%
Domestic fixed income securities	42	%	16	%
Other investments	20	%	20	%
Total	100	%	100	%

Non-U.S. Pension Benefit Plans

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

Allocation of Plan Assets

The weighted average asset allocation of the Company’s non-U.S. pension benefit plans as of December 31, 2014 and 2013 are as follows:



Asset Category	2014		2013
Equity securities	42	%	45	%
Fixed income securities	38	%	30	%
Other investments	20	%	25	%
Total	100	%	100	%

Postretirement Benefits

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

Net Pension And Postretirement Cost

Net annual postretirement benefit costs for the years ended December 31, 2014, 2013 and 2012 are set forth below (in millions, except percentages):



Postretirement benefits	2014			2013			2012
Service cost	$	0.1		$	0.1		$	0.1
Interest cost	1.6			1.7			1.5
Amortization of prior service cost (credit)	0.2			0.2			(0.2		)
Amortization of net actuarial loss	0.1			0.5			0.4
Other	0.2			—			—
Net annual postretirement benefit cost	$	2.2		$	2.5		$	1.8
Weighted average discount rate	5.3		%	4.7		%	4.8		%

Expected Benefit Payments

At December 31, 2014, the aggregate expected benefit payments for the Company’s U.S. and Brazilian postretirement benefit plans are as follows (in millions):



2015	$	1.5
2016	1.6
2017	1.6
2018	1.7
2019	1.7
2020 through 2024	9.2
	$	17.3

Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2014

Stockholders' Equity Note [Abstract]

Schedule of Accumulated Other Comprehensive Income (Loss)



	Defined Benefit Pension Plans			Cumulative Translation Adjustment			Deferred Net Gains (Losses) on Derivatives			Total
Accumulated other comprehensive (loss) income, December 31, 2012	$	(262.9	)	$	(217.2	)	$	0.7		$	(479.4	)
Other comprehensive gain (loss) before reclassifications	45.2			(86.9		)	(1.4		)	(43.1		)
Net losses reclassified from accumulated other comprehensive loss	11.3			—			0.5			11.8
Other comprehensive income (loss), net of reclassification adjustments	56.5			(86.9		)	(0.9		)	(31.3		)
Accumulated other comprehensive loss, December 31, 2013	(206.4		)	(304.1		)	(0.2		)	(510.7		)
Other comprehensive loss before reclassifications	(54.8		)	(349.0		)	(1.4		)	(405.2		)
Net losses reclassified from accumulated other comprehensive loss	7.9			—			1.5			9.4
Other comprehensive (loss) income, net of reclassification adjustments	(46.9		)	(349.0		)	0.1			(395.8		)
Accumulated other comprehensive loss, December 31, 2014	$	(253.3	)	$	(653.1	)	$	(0.1	)	$	(906.5	)

Schedule of reclassifications out of AOCI



Details about Accumulated Other Comprehensive Loss Components	Amount Reclassified from Accumulated Other Comprehensive Loss						Affected Line Item within the Consolidated Statements of Operations
	Year ended December 31, 2014 ⁽¹⁾			Year ended December 31, 2013 ⁽¹⁾
Net losses on cash flow hedges	$	1.4		$	0.7		Cost of goods sold
	0.1			(0.2		)	Income tax provision
Reclassification net of tax	$	1.5		$	0.5

Defined benefit pension plans:
Amortization of net actuarial loss	$	9.6		$	14.5		⁽²⁾
Amortization of prior service cost	1.0			1.1			⁽²⁾
Reclassification before tax	10.6			15.6
	(2.7		)	(4.3		)	Income tax provision
Reclassification net of tax	$	7.9		$	11.3

Net losses reclassified from accumulated other comprehensive loss	$	9.4		$	11.8

____________________________________

(1) Losses included within the Consolidated Statements of Operations for the years ended December 31, 2014 and 2013, respectively.

Stock Incentive Plan (Tables)

12 Months Ended

Dec. 31, 2014

Share-based Compensation [Abstract]

Share-based compensation arrangement by share-based payment award, equity instruments other than options, grants in period, weighted average grant date fair value

The weighted average grant-date fair value of performance awards granted under the 2006 Plan during 2014, 2013 and 2012 was as follows:



	Years Ended December 31,
	2014		2013		2012
Weighted average grant-date fair value	$	53.87	$	51.51	$	52.11

Share-based compensation arrangement by share-based payment award, equity instruments other than options, earned and issued

Based on the level of performance achieved as of December 31, 2014 and 2013, the following shares were earned under the related performance period and issued in the subsequent year, net of shares that were withheld for taxes related to the earned awards:



	Years Ended December 31,
	2014	2013
Shares earned at year-end	286,804	622,018
Shares withheld for taxes on the earned awards	113,334	226,721
Shares issued subsequent to year-end, net	173,470	395,297	⁽¹⁾

____________________________________

(1) 26,800 shares were issued during 2013.

Performance Award Transactions

Performance award transactions during 2014 were as follows and are presented as if the Company were to achieve its maximum levels of performance under the plan:



Shares awarded but not earned at January 1	2,808,519
Shares awarded	887,198
Shares forfeited or unearned	(317,684	)
Shares earned	(896,266	)
Shares awarded but not earned at December 31	2,481,767

Weighted Average Grant-Date Fair Value Of SSARS And Assumptions Under Black-Scholes Option Model



	Years Ended December 31,
	2014			2013			2012
Weighted average grant-date fair value	$	13.11		$	21.10		$	22.50
Weighted average assumptions under Black-Scholes option model:
Expected life of awards (years)	3.0			5.5			5.5
Risk-free interest rate	0.9		%	0.9		%	0.8		%
Expected volatility	35.7		%	50.3		%	51.0		%
Expected dividend yield	0.8		%	0.8		%	—

SSAR Activity

SSAR transactions during the year ended December 31, 2014 were as follows:



SSARs outstanding at January 1	1,094,836
SSARs granted	301,400
SSARs exercised	(112,050		)
SSARs canceled or forfeited	(63,362		)
SSARs outstanding at December 31	1,220,824
SSAR price ranges per share:
Granted	$ 52.85 - 55.23
Exercised	21.45 - 52.94
Canceled or forfeited	21.45 - 56.98
Weighted average SSAR exercise prices per share:
Granted	$	55.20
Exercised	23.08
Canceled or forfeited	53.31
Outstanding at December 31	50.31

Schedule Of SSAR Exercise Price Range, Number Of Shares, Weighted Average Exercise Price And Remaining Contractual Lives

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 as of December 31, 2014:



	SSARs Outstanding				SSARs Exercisable
Range of Exercise Prices	Number of Shares	Weighted Average Remaining Contractual Life (Years)	Weighted Average Exercise Price		Exercisable as of December 31, 2014	Weighted Average Exercise Price
$21.45 - $32.01	56,625	1.2	$	22.64	56,625	$	22.64
$33.65 - $43.39	125,525	2.1	$	33.88	124,800	$	33.82
$47.89 - $63.64	1,038,674	4.5	$	53.80	414,652	$	53.56
	1,220,824				596,077	$	46.49

Derivative Instruments and Hedging Activities (Tables)

12 Months Ended

Dec. 31, 2014

Derivative Instruments and Hedges, Assets [Abstract]

Summary Of Accumulated Other Comprehensive Loss Related To Derivatives



	Before-Tax Amount			Income Tax ⁽¹⁾			After-Tax Amount ⁽¹⁾
Accumulated derivative net losses as of December 31, 2011	$	(5.4	)	$	(1.1	)	$	(4.3	)
Net changes in fair value of derivatives	(2.0		)	1.1			(3.1		)
Net losses reclassified from accumulated other comprehensive loss into income	8.5			0.4			8.1
Accumulated derivative net gains as of December 31, 2012	1.1			0.4			0.7
Net changes in fair value of derivatives	(2.1		)	(0.7		)	(1.4		)
Net losses reclassified from accumulated other comprehensive loss into income	0.7			0.2			0.5
Accumulated derivative net losses as of December 31, 2013	(0.3		)	(0.1		)	(0.2		)
Net changes in fair value of derivatives	(1.3		)	0.1			(1.4		)
Net losses reclassified from accumulated other comprehensive loss into income	1.4			(0.1		)	1.5
Accumulated derivative net losses as of December 31, 2014	$	(0.2	)	$	(0.1	)	$	(0.1	)

____________________________________

(1) Rounding may impact summation of amounts.

Fair Value Of Derivative Instruments

The table below sets forth the fair value of derivative instruments as of December 31, 2014 (in millions):



	Asset Derivatives as of December 31, 2014			Liability Derivatives as of December 31, 2014
	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Derivative instruments designated as hedging instruments:
Foreign currency contracts	Other current assets	$	—	Other current liabilities	$	0.2
Derivative instruments not designated as hedging instruments:
Foreign currency contracts	Other current assets	11.3		Other current liabilities	20.3
Total derivative instruments		$	11.3		$	20.5

The table below sets forth the fair value of derivative instruments as of December 31, 2013 (in millions):



	Asset Derivatives as of December 31, 2013			Liability Derivatives as of December 31, 2013
	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Derivative instruments designated as hedging instruments:
Foreign currency contracts	Other current assets	$	—	Other current liabilities	$	0.1
Derivative instruments not designated as hedging instruments:
Foreign currency contracts	Other current assets	13.9		Other current liabilities	5.3
Total derivative instruments		$	13.9		$	5.4

Foreign currency contracts measured at fair value on a recurring basis as of December 31, 2014 and 2013 are summarized below (in millions):



	As of December 31, 2014
	Level 1		Level 2		Level 3		Total
Derivative assets	$	—	$	11.3	$	—	$	11.3
Derivative liabilities	$	—	$	20.5	$	—	$	20.5



	As of December 31, 2013
	Level 1		Level 2		Level 3		Total
Derivative assets	$	—	$	13.9	$	—	$	13.9
Derivative liabilities	$	—	$	5.4	$	—	$	5.4

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2014

Commitments and Contingencies Disclosure [Abstract]

Schedule of future payments required for significant commitments

The future payments required under the Company’s significant commitments, excluding indebtedness, as of December 31, 2014 are as follows (in millions):



	Payments Due By Period
	2015		2016		2017		2018		2019		Thereafter		Total
Interest payments related to indebtedness⁽¹⁾	$	35.0	$	24.8	$	19.2	$	18.2	$	40.5	$	29.6	$	167.3
Capital lease obligations	2.0		1.3		0.6		0.1		—		—		4.0
Operating lease obligations	52.2		35.5		24.8		18.2		11.6		51.9		194.2
Unconditional purchase obligations⁽²⁾	100.2		16.9		8.1		5.6		0.1		—		130.9
Other short-term and long-term obligations⁽³⁾	107.8		34.2		40.9		52.5		44.0		123.4		402.8
Total contractual cash obligations	$	297.2	$	112.7	$	93.6	$	94.6	$	96.2	$	204.9	$	899.2

____________________________________

(2) Unconditional purchase obligations exclude routine purchase orders entered into in the normal course of business.

Schedule of guarantor obligations



	Amount of Commitment Expiration Per Period
	2015		2016		2017		2018		2019		Thereafter		Total
Guarantees	$	124.7	$	2.6	$	1.6	$	0.7	$	0.1	$	—	$	129.7

Fair Value (Tables)

12 Months Ended

Dec. 31, 2014

Fair Value Disclosures [Abstract]

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]

The table below sets forth the fair value of derivative instruments as of December 31, 2014 (in millions):



	Asset Derivatives as of December 31, 2014			Liability Derivatives as of December 31, 2014
	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Derivative instruments designated as hedging instruments:
Foreign currency contracts	Other current assets	$	—	Other current liabilities	$	0.2
Derivative instruments not designated as hedging instruments:
Foreign currency contracts	Other current assets	11.3		Other current liabilities	20.3
Total derivative instruments		$	11.3		$	20.5

The table below sets forth the fair value of derivative instruments as of December 31, 2013 (in millions):



	Asset Derivatives as of December 31, 2013			Liability Derivatives as of December 31, 2013
	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Derivative instruments designated as hedging instruments:
Foreign currency contracts	Other current assets	$	—	Other current liabilities	$	0.1
Derivative instruments not designated as hedging instruments:
Foreign currency contracts	Other current assets	13.9		Other current liabilities	5.3
Total derivative instruments		$	13.9		$	5.4

Foreign currency contracts measured at fair value on a recurring basis as of December 31, 2014 and 2013 are summarized below (in millions):



	As of December 31, 2014
	Level 1		Level 2		Level 3		Total
Derivative assets	$	—	$	11.3	$	—	$	11.3
Derivative liabilities	$	—	$	20.5	$	—	$	20.5



	As of December 31, 2013
	Level 1		Level 2		Level 3		Total
Derivative assets	$	—	$	13.9	$	—	$	13.9
Derivative liabilities	$	—	$	5.4	$	—	$	5.4

Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2014

Segment Reporting [Abstract]

Sales Information By Reportable Segments

Segment results for the years ended December 31, 2014, 2013 and 2012 based on the Company’s current reportable segments are as follows (in millions):



Years Ended December 31,	North America		South America		Europe/Africa/ Middle East		Asia/Pacific			Consolidated
2014
Net sales		$2,414.2		$1,663.4		$5,158.5		$487.6			$9,723.7
Income (loss) from operations	219.2		134.0		500.2		(11.5		)	841.9
Depreciation	60.1		26.5		138.7		14.1			239.4
Assets	1,026.9		719.8		2,036.0		353.8			4,136.5
Capital expenditures	70.9		45.6		136.3		48.7			301.5
2013
Net sales		$2,757.8		$2,039.7		$5,481.5		$507.9			$10,786.9
Income from operations	325.9		212.7		558.2		0.5			1,097.3
Depreciation	51.4		24.6		126.6		9.0			211.6
Assets	1,002.8		773.5		2,368.9		289.5			4,434.7
Capital expenditures	73.4		66.4		204.5		47.5			391.8
2012
Net sales		$2,584.4		$1,855.7		$5,073.7		$448.4			$9,962.2
Income from operations	259.9		161.6		474.9		10.2			906.6
Depreciation	41.5		22.7		107.0		9.4			180.6
Assets	907.4		674.9		2,114.2		295.8			3,992.3
Capital expenditures	64.0		48.3		211.6		16.6			340.5

Income From Operations And Total Assets

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



	2014			2013			2012
Segment income from operations	$	841.9		$	1,097.3		$	906.6
Corporate expenses	(117.7		)	(116.2		)	(107.1		)
Stock compensation credit (expense)	9.7			(32.6		)	(34.6		)
Restructuring and other infrequent expenses	(46.4		)	—			—
Impairment charge	—			—			(22.4		)
Amortization of intangibles	(41.0		)	(47.8		)	(49.3		)
Consolidated income from operations	$	646.5		$	900.7		$	693.2

Segment assets	$	4,136.5		$	4,434.7		$	3,992.3
Cash and cash equivalents	363.7			1,047.2			781.3
Receivables from affiliates	108.4			124.3			41.5
Investments in affiliates	424.1			416.1			390.3
Deferred tax assets, other current and noncurrent assets	616.6			672.2			716.9
Intangible assets, net	553.8			565.6			607.1
Goodwill	1,192.8			1,178.7			1,192.4
Consolidated total assets	$	7,395.9		$	8,438.8		$	7,721.8

Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area

Net sales by customer location for the years ended December 31, 2014, 2013 and 2012 were as follows (in millions):



	2014		2013		2012
Net sales:
United States	$	1,985.4	$	2,216.5	$	2,033.1
Canada	333.9		419.4		415.9
Germany	1,240.0		1,301.0		1,114.4
France	828.4		1,136.8		944.3
United Kingdom and Ireland	490.8		471.8		481.0
Finland and Scandinavia	808.4		828.5		790.2
Other Europe	1,376.0		1,422.6		1,421.0
South America	1,646.2		2,018.5		1,834.2
Middle East and Africa	414.9		320.7		322.9
Asia	253.6		293.1		232.4
Australia and New Zealand	234.1		214.8		216.0
Mexico, Central America and Caribbean	112.0		143.2		156.8
	$	9,723.7	$	10,786.9	$	9,962.2

Revenue from External Customers by Products and Services

Net sales by product for the years ended December 31, 2014, 2013 and 2012 were as follows (in millions):



	2014		2013		2012
Net sales:
Tractors	$	5,566.8	$	6,491.1	$	5,882.4
Replacement parts	1,390.1		1,349.1		1,286.7
Other machinery	875.3		1,001.0		963.2
Grain storage and protein production systems	851.0		771.9		728.5
Combines	581.0		652.8		638.9
Application equipment	459.5		521.0		462.5
	$	9,723.7	$	10,786.9	$	9,962.2

Schedule of Disclosure on Geographic Areas, Long-Lived Assets in Individual Foreign Countries by Country

Property, plant and equipment and amortizable intangible assets by country as of December 31, 2014 and 2013 was as follows (in millions):



	2014		2013
United States	$	666.7	$	634.4
Finland	192.5		221.3
Germany	420.8		498.1
Brazil	204.1		218.4
Italy	101.8		117.6
China	138.7		112.3
France	83.2		87.3
Other	187.4		184.8
	$	1,995.2	$	2,074.2

Operations and Summary of Significant Accounting Policies (Details) $ in Millions	12 Months Ended
	Dec. 31, 2014 USD ($)	Dec. 31, 2013 USD ($)	Dec. 31, 2012 USD ($)	Dec. 31, 2006 USD ($)	Sep. 11, 2014
Accounting Policies [Line Items]
Number of Independent Dealers and Distributors	3,100
Investment in affiliates	$ 424.1	$ 416.1	$ 390.3
Time period in which remaining installment balance is generally due	12 months
Cash and Cash Equivalents [Abstract]
Cash	$ 215.3	465.2
Cash Equivalents, at Carrying Value	148.4	582.0
Impairment charge	0.0	0.0	22.4
Goodwill, Impaired, Accumulated Impairment Loss	$ 180.5
Goodwill, Impairment Loss			9.1	$ (171.4)
Goodwill, Subsequent Recognition of Deferred Tax Asset		$ 8.0	$ 7.8
Equipment Sales \| United States and Canada
Revenue Recognition [Abstract]
Payment period on product sales	12 months
Large Seasonal Products \| United States and Canada
Revenue Recognition [Abstract]
Payment period on product sales	6 months
Replacement Parts \| United States and Canada
Revenue Recognition [Abstract]
Payment period on product sales	30 days
Grain Storage and Protein Production Systems \| United States and Canada
Revenue Recognition [Abstract]
Payment period on product sales	30 days
Minimum
Accounting Policies [Line Items]
Ownership percentage	20.00%
Revenue Recognition [Abstract]
Interest Income Period On Installment Agreements	6 months
Payment period on product sales	1 month
Interest Free Period on Receivables	1 month
Minimum \| Equipment Sales \| International
Revenue Recognition [Abstract]
Payment period on product sales	30 days
Minimum \| Replacement Parts \| International
Revenue Recognition [Abstract]
Payment period on product sales	30 days
Maximum
Revenue Recognition [Abstract]
Interest Income Period On Installment Agreements	12 months
Payment period on product sales	12 months
Interest Free Period on Receivables	12 months
Maximum \| Equipment Sales \| International
Revenue Recognition [Abstract]
Payment period on product sales	180 days
Maximum \| Large Seasonal Products
Revenue Recognition [Abstract]
Interest Free Period on Receivables	23 months
Maximum \| Large Seasonal Products \| International
Revenue Recognition [Abstract]
Payment period on product sales	6 months
Maximum \| Replacement Parts \| International
Revenue Recognition [Abstract]
Payment period on product sales	90 days
GIMA
Accounting Policies [Line Items]
Ownership percentage	50.00%	50.00%
Rabobank \| Co-venturer
Accounting Policies [Line Items]
Ownership interest of controlling interest	51.00%
Santal
Accounting Policies [Line Items]
Company acquired, percent					39.00%

Operations and Summary of Significant Accounting Policies - Accounts and Notes Receivable (Details) - USD ($)
$ in Millions

12 Months Ended

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Accounts, Notes, Loans and Financing Receivable [Line Items]

Net Sales with Maximum Interest-Free Periods Ranging from Zero to Six Months

$ 9,105.2

Percentage of net sales with maximum interest-free periods ranging from one to six months

93.60%

Net Sales with Maximum Interest-Free Periods Ranging from Seven to Twelve Months

$ 569.4

Percentage of net sales with maximum interest-free periods ranging from seven to twelve months

5.90%

Percentage of net sales with maximum interest-free periods ranging from thirteen to twenty-three months

0.50%

Net Sales with Maximum Interest-Free Periods Ranging from Thirteen to Twenty-Three Months

$ 49.1

Percent of Net Sales with Maximum Interest-free Periods

$ 9,723.7

$ 10,786.9

$ 9,962.2

100.00%

Allowance for Promotions

Accounts, Notes, Loans and Financing Receivable [Line Items]

Allowance for Doubtful Accounts

$ 255.0

^[1]

236.6

^[1]

165.2

^[1]

$ 103.5

Accounts, Notes, Loans and Financing Receivable [Line Items]

Sales incentive discounts

32.1

34.9

38.1

$ 36.9

Accounts, Notes, Loans and Financing Receivable [Line Items]

Sales incentive discounts | Allowance for Promotions

50.6

65.3

Accounts, Notes, Loans and Financing Receivable [Line Items]

Sales incentive discounts | Allowance for Doubtful Accounts

18.5

30.4

Accounts, Notes, Loans and Financing Receivable [Line Items]

Accrued Expense | Allowance for Promotions

32.1

34.9

Accounts, Notes, Loans and Financing Receivable [Line Items]

Accounts, Notes, Loans and Financing Receivable [Line Items]

236.5

206.2

South America

Net Sales with Maximum Interest-Free Periods Ranging from Zero to Six Months

1,663.4

Net Sales with Maximum Interest-Free Periods Ranging from Seven to Twelve Months

0.0

Net Sales with Maximum Interest-Free Periods Ranging from Thirteen to Twenty-Three Months

0.0

Accounts, Notes, Loans and Financing Receivable [Line Items]

1,663.4

2,039.7

1,855.7

North America

Net Sales with Maximum Interest-Free Periods Ranging from Zero to Six Months

1,856.3

Net Sales with Maximum Interest-Free Periods Ranging from Seven to Twelve Months

510.2

Net Sales with Maximum Interest-Free Periods Ranging from Thirteen to Twenty-Three Months

47.7

Europe/ Africa/ Middle East

2,414.2

2,757.8

2,584.4

Accounts, Notes, Loans and Financing Receivable [Line Items]

Net Sales with Maximum Interest-Free Periods Ranging from Zero to Six Months

5,097.9

Net Sales with Maximum Interest-Free Periods Ranging from Seven to Twelve Months

59.2

Net Sales with Maximum Interest-Free Periods Ranging from Thirteen to Twenty-Three Months

1.4

Accounts, Notes, Loans and Financing Receivable [Line Items]

5,158.5

5,481.5

5,073.7

Asia/ Pacific

Net Sales with Maximum Interest-Free Periods Ranging from Zero to Six Months

487.6

Net Sales with Maximum Interest-Free Periods Ranging from Seven to Twelve Months

0.0

Net Sales with Maximum Interest-Free Periods Ranging from Thirteen to Twenty-Three Months

0.0

Accounts, Notes, Loans and Financing Receivable [Line Items]

487.6

507.9

448.4

Operating Segments

Net gain (loss) on derivatives, after tax

$ 9,723.7

$ 10,786.9

$ 9,962.2

[1]

As of December 31, 2014, approximately $236.5 million of this balance was recorded within “Accrued expenses” and approximately $18.5 million was recorded within “accounts receivable allowances” in the Company’s Consolidated Balance Sheets. As of December 31, 2013, approximately $206.2 million of this balance was recorded within “Accrued expenses” and approximately $30.4 million was recorded within “accounts receivable allowances” in the Company’s Consolidated Balance Sheets.

Operations and Summary of Significant Accounting Policies - Inventories (Details) - USD ($) $ in Millions	Dec. 31, 2014	Dec. 31, 2013
Operations and Summary of Significant Accounting Policies [Abstract]
Inventory Valuation Reserves	$ 126.5	$ 119.9
Inventory, Net [Abstract]
Finished goods	616.6	775.7
Repair and replacement parts	536.4	550.2
Work in process	130.5	109.0
Raw materials	467.2	581.2
Inventories, net	$ 1,750.7	$ 2,016.1

Operations and Summary of Significant Accounting Policies - Property Plant and Equipment (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Property, Plant and Equipment [Abstract]
Gross property, plant and equipment	$ 2,969.5	$ 2,964.8
Accumulated depreciation and amortization	(1,439.1)	(1,362.5)
Property, plant and equipment, net	1,530.4	1,602.3
Land
Property, Plant and Equipment [Abstract]
Gross property, plant and equipment	113.6	125.6
Buildings and Improvements
Property, Plant and Equipment [Abstract]
Gross property, plant and equipment	688.4	698.5
Machinery and Equipment
Property, Plant and Equipment [Abstract]
Gross property, plant and equipment	2,039.9	2,013.4
Furniture and Fixtures
Property, Plant and Equipment [Abstract]
Gross property, plant and equipment	$ 127.6	$ 127.3
Minimum \| Buildings and Improvements
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	10 years
Minimum \| Machinery and Equipment
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	3 years
Minimum \| Furniture and Fixtures
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	3 years
Maximum \| Buildings and Improvements
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	40 years
Maximum \| Machinery and Equipment
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	15 years
Maximum \| Furniture and Fixtures
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	10 years

Operations and Summary of Significant Accounting Policies - Goodwill and Other Intangible Assets (Details) $ in Millions	12 Months Ended
	Dec. 31, 2014 USD ($) country	Dec. 31, 2013 USD ($)	Dec. 31, 2012 USD ($)	Dec. 31, 2006 USD ($)
Goodwill [Roll Forward]
Goodwill Beginning of Period	$ 1,178.7	$ 1,192.4	$ 1,194.5
Goodwill, Acquired During Period	89.6	7.3	26.1
Impairment charge			(9.1)	$ 171.4
Goodwill Adjustments Related To Income Taxes		(8.0)	(7.8)
Goodwill, Foreign Currency Translation	(75.5)	(13.0)	(11.3)
Goodwill End of Period	1,192.8	1,178.7	1,192.4
Amortization of intangibles	41.0	47.8	49.3
Future Amortization Expense
2015	42.7
2016	41.5
2017	41.2
2018	41.2
2019	$ 41.2
Number Of Countries Where Products Sold \| country	140
Finite-lived Intangible Assets [Roll Forward]
Finite-Lived Intangible Assets, Beginning Of Period	$ 725.3	723.0
Intangible assets acquired	46.3	6.0
Finite-Lived Intangible Assets, Adjustment	(4.8)
Finite Lived Intangible Assets Foreign Currency Translation	(25.8)	(3.7)
Finite-Lived Intangible Assets, End Of Period	741.0	725.3	723.0
Finite-Lived Intangible Assets, Accumulated Amortization	276.2	253.4	208.1
Finite Lived Intangible Assets, Accumulated Amortization, Foreign Currency Translation	(18.2)	(2.5)
North America
Goodwill [Roll Forward]
Goodwill Beginning of Period	424.0	416.7	415.9
Goodwill, Acquired During Period	89.6	7.3	0.8
Impairment charge			0.0
Goodwill Adjustments Related To Income Taxes		0.0	0.0
Goodwill, Foreign Currency Translation	0.0	0.0	0.0
Goodwill End of Period	513.6	424.0	416.7
South America
Goodwill [Roll Forward]
Goodwill Beginning of Period	190.7	219.3	212.2
Goodwill, Acquired During Period	0.0	0.0	29.0
Impairment charge			0.0
Goodwill Adjustments Related To Income Taxes		0.0	0.0
Goodwill, Foreign Currency Translation	(21.0)	(28.6)	(21.9)
Goodwill End of Period	169.7	190.7	219.3
Europe/ Africa/ Middle East
Goodwill [Roll Forward]
Goodwill Beginning of Period	506.6	498.3	496.8
Goodwill, Acquired During Period	0.0	0.0	0.0
Impairment charge			0.0
Goodwill Adjustments Related To Income Taxes		(8.0)	(7.8)
Goodwill, Foreign Currency Translation	(52.0)	16.3	9.3
Goodwill End of Period	454.6	506.6	498.3
Asia/ Pacific
Goodwill [Roll Forward]
Goodwill Beginning of Period	57.4	58.1	69.6
Goodwill, Acquired During Period	0.0	0.0	(3.7)
Impairment charge			(9.1)
Goodwill Adjustments Related To Income Taxes		0.0	0.0
Goodwill, Foreign Currency Translation	(2.5)	(0.7)	1.3
Goodwill End of Period	$ 54.9	57.4	58.1
Technology and Patents
Goodwill [Roll Forward]
Finite-Lived Intangible Assets, Useful Life	14 years
Amortization of intangibles	$ 3.2	3.0
Finite-lived Intangible Assets [Roll Forward]
Finite-Lived Intangible Assets, Beginning Of Period	89.1	87.6
Intangible assets acquired	11.3	0.0
Finite-Lived Intangible Assets, Adjustment	0.0
Finite Lived Intangible Assets Foreign Currency Translation	(6.4)	1.5
Finite-Lived Intangible Assets, End Of Period	94.0	89.1	87.6
Finite-Lived Intangible Assets, Accumulated Amortization	56.1	59.0	54.1
Finite Lived Intangible Assets, Accumulated Amortization, Foreign Currency Translation	$ (6.1)	1.9
Customer Relationships
Goodwill [Roll Forward]
Finite-Lived Intangible Assets, Useful Life	14 years
Amortization of intangibles	$ 31.4	38.4
Finite-lived Intangible Assets [Roll Forward]
Finite-Lived Intangible Assets, Beginning Of Period	502.7	507.8
Intangible assets acquired	28.0	0.0
Finite-Lived Intangible Assets, Adjustment	0.0
Finite Lived Intangible Assets Foreign Currency Translation	(16.9)	(5.1)
Finite-Lived Intangible Assets, End Of Period	513.8	502.7	507.8
Finite-Lived Intangible Assets, Accumulated Amortization	180.8	160.7	126.6
Finite Lived Intangible Assets, Accumulated Amortization, Foreign Currency Translation	$ (11.3)	(4.3)
Land Use Rights
Goodwill [Roll Forward]
Finite-Lived Intangible Assets, Useful Life	46 years
Amortization of intangibles	$ 0.2	0.2
Finite-lived Intangible Assets [Roll Forward]
Finite-Lived Intangible Assets, Beginning Of Period	14.9	8.7
Intangible assets acquired	0.0	6.0
Finite-Lived Intangible Assets, Adjustment	(4.8)
Finite Lived Intangible Assets Foreign Currency Translation	(0.4)	0.2
Finite-Lived Intangible Assets, End Of Period	9.7	14.9	8.7
Finite-Lived Intangible Assets, Accumulated Amortization	2.9	2.7	2.5
Finite Lived Intangible Assets, Accumulated Amortization, Foreign Currency Translation	$ 0.0	0.0
Trademarks and Trade Names
Goodwill [Roll Forward]
Finite-Lived Intangible Assets, Useful Life	21 years
Amortization of intangibles	$ 6.2	6.2
Finite-lived Intangible Assets [Roll Forward]
Finite-Lived Intangible Assets, Beginning Of Period	118.6	118.9
Intangible assets acquired	7.0	0.0
Finite-Lived Intangible Assets, Adjustment	0.0
Finite Lived Intangible Assets Foreign Currency Translation	(2.1)	(0.3)
Finite-Lived Intangible Assets, End Of Period	123.5	118.6	118.9
Finite-Lived Intangible Assets, Accumulated Amortization	36.4	31.0	24.9
Finite Lived Intangible Assets, Accumulated Amortization, Foreign Currency Translation	(0.8)	(0.1)
Trademarks and Trade Names
Indefinite-lived Intangible Assets [Roll Forward]
Indefinite-lived Intangible Assets, Beginning Of Period	93.7	92.2
Indefinite-lived Intangible Assets, Foreign Currency Translation	(4.7)	1.5
Indefinite-lived Intangible Assets, End Of Period	$ 89.0	$ 93.7	$ 92.2
Valtra Brand
Future Amortization Expense
Number Of Countries Where Products Sold \| country	50
Minimum
Goodwill [Roll Forward]
Finite-Lived Intangible Asset, Useful Life Range	5 years
Minimum \| Massey Ferguson
Future Amortization Expense
Number Of Countries Where Products Sold \| country	140
Maximum
Goodwill [Roll Forward]
Finite-Lived Intangible Asset, Useful Life Range	50 years

Operations and Summary of Significant Accounting Policies - Accrued Expense and Reserves (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Operations and Summary of Significant Accounting Policies [Abstract]
Reserve for volume discounts and sales incentives	$ 467.7	$ 494.1
Warranty Reserves	245.7	255.9
Accrued employee compensation and benefits	232.8	285.8
Accrued taxes	108.4	167.3
Other	189.5	186.1
Accrued Expenses	1,244.1	1,389.2
Movement in Standard Product Warranty Accrual [Roll Forward]
Warranty reserves, beginning of period	294.9	256.9	$ 240.5
Product Warranty Accrual, Acquisitions	0.5	0.0	0.1
Product Warranty Accrual, Accruals for warranties issued during the year	214.1	200.3	184.5
Product Warranty Accrual, Settlements made (in cash or in kind) during the year	(205.5)	(165.7)	(171.7)
Product Warranty Accrual, Foreign Currency Translation	(19.4)	3.4	3.5
Warranty reserves, end of period	$ 284.6	294.9	$ 256.9
Standard Product Warranty Period Minimum	1 year
Standard Product Warranty Period Maximum	4 years
Standard Product Warranty Accrual, Noncurrent	$ 38.9	$ 39.0

Operations and Summary of Significant Accounting Policies - Stock Compensation Allocation (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Allocated Share-based Compensation Expense	$ (10.6)	$ 34.9	$ 37.0
Cost of Goods Sold
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Allocated Share-based Compensation Expense	(0.9)	2.3	2.4
Selling, General and Administrative Expenses
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Allocated Share-based Compensation Expense	$ (9.7)	$ 32.6	$ 34.6

Operations and Summary of Significant Accounting Policies - Expenses (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Advertising Expense	$ 59.8	$ 60.5	$ 60.2
Interest Income (Expense), Net [Abstract]
Interest expense	71.9	78.8	77.7
Interest Income	(13.5)	(20.8)	(20.1)
Interest Expense, Net	58.4	58.0	57.6
Selling, General and Administrative Expenses
Shipping and Handling Costs	$ 29.2	$ 29.3	$ 31.0

Operations and Summary of Significant Accounting Policies - Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Earnings Per Share, Basic [Abstract]
Net income attributable to AGCO Corporation and subsidiaries	$ 410.4	$ 597.2	$ 522.1
Weighted Average Number of Common Shares Outstanding, Basic	93.4	97.3	97.1
Basic net income per share attributable to AGCO Corporation and subsidiaries	$ 4.39	$ 6.14	$ 5.38
Diluted net income per share:
Dilutive stock options, SSARs, performance share awards and restricted stock awards	0.3	0.8	1.0
Weighted average assumed conversion of contingently convertible senior subordinated notes	0.5	1.3	0.5
Weighted average number of common shares and common share equivalents outstanding for purposes of computing diluted income per share	94.2	99.4	98.6
Diluted net income per share attributable to AGCO and subsidiaries	$ 4.36	$ 6.01	$ 5.30
Stock Appreciation Rights (SARs)
Diluted net income per share:
Antidilutive securities excluded from computation of earnings per share, amount	1.0	0.8	0.6

Operations and Summary of Significant Accounting Policies - Comprehensive Income (Details) - USD ($)
$ in Millions

12 Months Ended

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

$ 0.1

$ (0.9)

$ 5.0

Foreign currency translation adjustment, after tax

^[1]

(1.4)

(3.1)

(349.3)

(87.2)

(62.7)

Other comprehensive loss, net of reclassification adjustments

(396.1)

(31.6)

(80.4)

Noncontrolling Interests

Defined benefit pension plans, after tax

0.0

Foreign currency translation adjustment, after tax

0.0

(0.3)

(1.6)

Other comprehensive loss, net of reclassification adjustments

(0.3)

(1.6)

Parent

Defined benefit pension plans, before Tax

(62.1)

75.8

(32.5)

Defined benefit pension plans, tax

15.2

(19.3)

9.8

Defined benefit pension plans, after tax

(46.9)

56.5

(22.7)

Net gain (loss) on derivatives, before tax

0.1

(1.4)

6.5

Net gain (loss) on derivatives, tax

0.0

0.5

(1.5)

Net gain (loss) on derivatives, after tax

0.1

(0.9)

5.0

Foreign currency translation adjustment, before tax

(349.0)

(86.9)

(61.1)

Foreign currency translation adjustment, tax

0.0

Foreign currency translation adjustment, after tax

(349.0)

(86.9)

(61.1)

Total components of other comprehensive income (Loss), before tax

(411.0)

(12.5)

(87.1)

Total components of other comprehensive income (Loss), tax

15.2

(18.8)

8.3

Other comprehensive loss, net of reclassification adjustments

$ (395.8)

$ (31.3)

$ (78.8)

[1]	Rounding may impact summation of amounts.

Operations and Summary of Significant Accounting Policies - Financial Instruments (Details) - USD ($) $ in Millions	Dec. 31, 2014	Dec. 31, 2013
5 7/8% Senior Notes due 2021
Long-term Debt, Fair Value	$ 337.6	$ 322.1
Long-term Debt, Gross	$ 300.0	300.0
1 1/4percent Convertible Senior Subordinated Notes Due December 15, 2036
Long-term Debt, Fair Value		290.5
Long-term Debt, Gross		$ 201.2

Acquisitions (Narrative) (Details) R$ in Millions, $ in Millions				12 Months Ended
	Sep. 11, 2014 USD ($)	Sep. 11, 2014 BRL (R$)	Aug. 01, 2014 USD ($)	Dec. 31, 2014 USD ($)	Dec. 31, 2013 USD ($)	Dec. 31, 2012 USD ($)
Payments to Acquire Additional Interest in Subsidiaries				$ 0.0	$ 0.0	$ 20.1
Payments to Acquire Businesses, Net of Cash Acquired				130.3	9.5	2.9
Goodwill, Acquired During Period				89.6	7.3	26.1
Intangible assets acquired				46.3	6.0
Deferred income tax provision (benefit)				3.6	21.7	(36.4)
Impairment charge				0.0	0.0	$ 22.4
Santal
Company acquired, percent	39.00%	39.00%
Payments to Acquire Additional Interest in Subsidiaries	$ 3.7	R$ 9.0
Intersystems Holdings, Inc. [Member]
Payments to Acquire Businesses, Net of Cash Acquired			$ 130.3
Cash acquired, net			4.1
Goodwill, Acquired During Period			89.6
Intangible assets acquired			46.3
Payments to Acquire Businesses, Gross			$ 134.4
5 7/8% Senior Notes due 2021
Senior Notes				$ 300.0	$ 300.0

Acquisitions (Schedule Of Acquired Other Identifiable Intangible Assets) (Details) - USD ($) $ in Millions		12 Months Ended
	Aug. 01, 2014	Dec. 31, 2014	Dec. 31, 2013
Intangible assets acquired		$ 46.3	$ 6.0
Customer Relationships
Intangible assets acquired		$ 28.0	$ 0.0
Intangible assets acquired, weighted average useful life, in years		14 years
Intersystems Holdings, Inc. [Member]
Intangible assets acquired	$ 46.3
Intersystems Holdings, Inc. [Member] \| Customer Relationships
Intangible assets acquired	$ 28.0
Intangible assets acquired, weighted average useful life, in years	15 years
Intersystems Holdings, Inc. [Member] \| Technology-Based Intangible Assets [Member]
Intangible assets acquired	$ 11.3
Intangible assets acquired, weighted average useful life, in years	15 years
Intersystems Holdings, Inc. [Member] \| Trademarks [Member]
Intangible assets acquired	$ 7.0
Intangible assets acquired, weighted average useful life, in years	16 years

Acquisitions (Schedule of Purchase Price Allocation) (Details) - USD ($) $ in Millions	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Business Acquisition [Line Items]
Goodwill	$ 1,192.8	$ 1,178.7	$ 1,192.4	$ 1,194.5

Restructuring and Other Infrequent Expenses (Details) $ in Millions	12 Months Ended
	Dec. 31, 2014 USD ($) employees	Dec. 31, 2013 USD ($)	Dec. 31, 2012 USD ($)
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Headcount Reduction, Over \| employees	1,500
Restructuring and other infrequent expenses	$ 46.4	$ 0.0	$ 0.0
Payments for Restructuring	19.0
Restructuring Reserve	25.4
Employee Severance [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and other infrequent expenses	44.4
Property, Plant and Equipment [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and other infrequent expenses	1.2
Net Pension Settlement and Special Termination Benefits [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and other infrequent expenses	$ 0.8

Accounts Receivable Sales Agreements (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Loss on sales of receivables	$ 24.8	$ 25.6	$ 21.8
Outstanding funding received from receivable securitization	43.3	68.2
United States, Canada and Europe
Cash received from receivables sold	$ 1,200.0	$ 1,300.0
Rabobank
Ownership percentage	49.00%

Investments in Affiliates (Details) - USD ($) $ in Millions	12 Months Ended
Investments in Affiliates (Details) - USD ($) $ in Millions	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Schedule of Equity Method Investments [Line Items]
Investment in affiliates	$ 424.1	$ 416.1	$ 390.3
Equity in net earnings of affiliates	52.9	48.2	53.5
Equity Method Investment, Summarized Financial Information [Abstract]
Total assets	8,836.4	9,442.7
Total liabilities	8,042.9	8,646.3
Partners’ equity	793.5	796.4
Equity Method Investment, Summarized Financial Information, Income Statement [Abstract]
Revenues	383.4	389.2	377.8
Costs	234.7	239.4	226.5
Income before income taxes	148.7	149.8	151.3
Receivables from affiliates	108.4	124.3	41.5
Undistributed earnings	293.3	276.3
Retail Finance Joint Venture
Schedule of Equity Method Investments [Line Items]
Investment in affiliates	389.0	390.2
Equity in net earnings of affiliates	48.8	48.8	48.6
Manufacturing Joint Ventures
Schedule of Equity Method Investments [Line Items]
Investment in affiliates	19.6	16.1
Other Joint Ventures
Schedule of Equity Method Investments [Line Items]
Investment in affiliates	15.5	9.8
Manufacturing and Other Joint Ventures
Schedule of Equity Method Investments [Line Items]
Equity in net earnings of affiliates	$ 4.1	$ (0.6)	$ 4.9

Income Taxes (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
Income Taxes (Narrative) (Details) - USD ($) $ in Millions	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Income Taxes [Line Items]
Undistributed earnings of foreign subsidiaries	$ 3,300.0
Change in valuation allowance	22.8	$ 9.3	$ (64.3)
Income Tax Reconciliation, Tax Credits, Research			13.1
Deferred Tax Assets, Net	4.2	9.7
Valuation allowance	93.3	77.2
Net operating loss carryforwards	265.5
Net operating loss carryforwards not subject to expiration	209.6
Income taxes paid	223.6	174.5	147.7
Unrecognized income tax benefits that would affect effective tax rate	130.6	122.2
Accrued or deferred taxes relating to uncertain income tax positions	64.7	61.9
Accrued interest and penalties related to unrecognized tax benefits	2.3
Accrued interest and penalties relating to unrecognized tax benefits	15.3	$ 14.4
UNITED STATES
Income Taxes [Line Items]
Change in valuation allowance			13.8
Foreign
Income Taxes [Line Items]
Net operating loss carryforwards	265.5
2015
Income Taxes [Line Items]
Net operating loss carryforwards, by expiration date	0.9
2016
Income Taxes [Line Items]
Net operating loss carryforwards, by expiration date	23.3
2017
Income Taxes [Line Items]
Net operating loss carryforwards, by expiration date	$ 31.7
UNITED STATES
Income Taxes [Line Items]
Change in valuation allowance			$ 54.7

Income Taxes (Schedule of Income before Income Tax, Domestic and Foreign) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Sources of income (loss) before income taxes and equity in net earnings of affiliates
United States	$ 63.5	$ 133.1	$ 98.0
Foreign	475.5	669.5	502.8
Income before income taxes and equity in net earnings of affiliates	$ 539.0	$ 802.6	$ 600.8

Income Taxes (Schedule of Components of Income Tax Expense (Benefit)) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Current:
United States - Federal	$ 12.6	$ 9.2	$ (5.5)
United States - State	2.8	9.9	2.8
Foreign	168.7	217.7	177.0
Current income tax expense (benefit)	184.1	236.8	174.3
Deferred:
United States - Federal	(0.4)	30.2	(27.0)
United States - State	0.0	0.0	0.0
Foreign	4.0	(8.5)	(9.4)
Deferred income tax expense (benefit)	3.6	21.7	(36.4)
Income tax provision	$ 187.7	$ 258.5	$ 137.9

Income Taxes (Schedule of Effective Income Tax Rate Reconciliation) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation [Abstract]
United States federal statutory rate	35.00%	35.00%	35.00%
Provision for income taxes at United States federal statutory rate of 35%	$ 188.7	$ 280.9	$ 210.3
State and local income taxes, net of federal income tax benefit	2.6	5.6	3.9
Taxes on foreign income which differ from the United States statutory rate	(33.4)	(34.7)	(19.8)
Tax effect of permanent differences	(10.3)	(7.6)	11.5
Change in valuation allowance	22.8	9.3	(64.3)
Change in tax contingency reserves	25.2	25.7	20.8
Research and development tax credits	(7.1)	(19.9)	(26.3)
Other	(0.8)	(0.8)	1.8
Income tax provision	$ 187.7	$ 258.5	$ 137.9

Income Taxes (Schedule of Deferred Tax Assets and Liabilities) (Details) - USD ($) $ in Millions	Dec. 31, 2014	Dec. 31, 2013
Deferred Tax Assets:
Net operating loss carryforwards	$ 75.7	$ 69.7
Sales incentive discounts	85.5	68.7
Inventory valuation reserves	33.9	29.4
Pensions and postretirement health care benefits	76.7	69.7
Warranty and other reserves	104.8	108.5
Research and development tax credits	0.0	13.2
Other	53.4	64.0
Total gross deferred tax assets	430.0	423.2
Valuation allowance	(93.3)	(77.2)
Total net deferred tax assets	336.7	346.0
Deferred Tax Liabilities:
Tax over book depreciation and amortization	311.0	314.7
Other	21.5	21.6
Total deferred tax liabilities	332.5	336.3
Net deferred tax assets	4.2	9.7
Amounts recognized in Consolidated Balance Sheets:
Deferred tax assets - current	217.2	241.2
Deferred tax assets - noncurrent	25.8	24.4
Other current liabilities	0.0	(4.7)
Deferred tax liabilities - noncurrent	(238.8)	(251.2)
Net deferred tax assets	$ 4.2	$ 9.7

Income Taxes (Summary of Income Tax Contingencies) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Gross unrecognized tax benefits:
Gross unrecognized income tax benefits, beginning of period	$ 122.2	$ 94.5
Additions for tax positions of the current year	21.8	34.7
Additions for tax positions of prior years	11.0	3.6
Additions for tax positions related to acquisitions	(0.6)	0.0
Reductions for tax positions of prior years for:
Changes in judgments	(2.2)	(9.0)
Settlements during the period	(1.9)	0.0
Lapses of applicable statute of limitations	(5.4)	(3.6)
Foreign currency translation	(14.3)	2.0
Gross unrecognized income tax benefits, end of period	$ 130.6	$ 122.2

Indebtedness (Narrative) (Details)	6 Months Ended	12 Months Ended
Indebtedness (Narrative) (Details)	Jun. 30, 2014 USD ($) $ / shares	Dec. 31, 2014 USD ($) shares	Dec. 31, 2013 USD ($) shares	Dec. 31, 2012 USD ($)	Jan. 15, 2015 USD ($)	Jan. 15, 2015 EUR (€)	Dec. 31, 2014 EUR (€)
Debt Instrument [Line Items]
Effective interest rate			6.10%	6.10%
Interest Paid		$ 68,400,000	$ 66,400,000	$ 70,000,000
Repayments of Convertible Debt		201,200,000	0	$ 0
Line of Credit Facility, Remaining Borrowing Capacity		750,600,000	600,000,000
Credit Facility		404,400,000	360,000,000
Outstanding letters of credit		$ 18,500,000	$ 16,700,000
Conversion Event, One
Debt Instrument [Line Items]
Trading period of qualifying event		20 days
Trading period in which qualifying event must occur		30 days
Conversion Event, Two
Debt Instrument [Line Items]
Trading period of qualifying event		5 days
Window for conversion		5 days
Senior Unsecured Term Loan Due January 15, 2020, 1.056% [Member]
Debt Instrument [Line Items]
Unused borrowing capacity \| €							€ 200,000,000.0
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity		$ 404,400,000
Senior Unsecured Term Loan Due May 2, 2016, 4.5%
Debt Instrument [Line Items]
Debt Interest Rate		4.50%	4.50%				4.50%
Senior Notes		$ 242,000,000	$ 275,000,000				€ 200,000,000.0
1 1/4percent Convertible Senior Subordinated Notes Due December 15, 2036
Debt Instrument [Line Items]
Carrying amount of the equity component			$ 54,300,000
Debt Interest Rate		1.25%	1.25%				1.25%
Debt maturity date		Dec. 15, 2036
Conversion event, percent of closing sales price to conversion price		120.00%
Convertible senior subordinated notes conversion price \| $ / shares	$ 40.27
Convertible senior subordinated notes, conversion rate		24.8295
Convertible senior subordinated notes principal amount per note		$ 1,000
Debt repurchased		49,700,000
Convertible notes converted		$ 151,500,000	$ 100,000
Debt conversion, shares issued \| shares		1,437,465	286
Excess conversion value of the notes		$ 81,000,000	$ 100,000
5 7/8% Senior Notes due 2021
Debt Instrument [Line Items]
Debt Interest Rate		5.875%	5.875%				5.875%
Senior Notes		$ 300,000,000	$ 300,000,000
Debt Instrument, Face Amount		$ 300,000,000.0
5 7/8% Senior Notes due 2021 \| Interest Accrual, Option Two
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate		0.50%
Term Loan Facility
Debt Instrument [Line Items]
Debt Instrument, Periodic Payment	$ 5,000,000
Term Loan Facility \| Future Periodic Payment
Debt Instrument [Line Items]
Debt Instrument, Periodic Payment	10,000,000
Amended and Restated Credit Facility Agreement [Member] \| Line of Credit [Member] \| Interest Accrual, Option Two
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate		0.50%
Amended and Restated Credit Facility Agreement [Member] \| Line of Credit [Member] \| Interest Accrual, Option Three
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate		1.00%
Amended and Restated Credit Facility Agreement [Member] \| Line of Credit [Member] \| Minimum \| Interest Accrual, Option One
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate		1.00%
Amended and Restated Credit Facility Agreement [Member] \| Line of Credit [Member] \| Maximum \| Interest Accrual, Option One
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate		2.00%
Amended and Restated Credit Facility Agreement [Member] \| Term Loan Facility
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity		$ 355,000,000
Amended and Restated Credit Facility Agreement [Member] \| Variable Basis, Additional Margin \| Line of Credit [Member] \| Minimum \| Interest Accrual, Option Three
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate		0.00%
Amended and Restated Credit Facility Agreement [Member] \| Variable Basis, Additional Margin \| Line of Credit [Member] \| Maximum \| Interest Accrual, Option Three
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate		0.50%
Subsequent Event \| Senior Unsecured Term Loan Due January 15, 2020, 1.056% [Member]
Debt Instrument [Line Items]
Debt Interest Rate					1.056%	1.056%
Senior Notes					$ 232,400,000	€ 200,000,000.0
Revolving Credit Facility [Member] \| Line of Credit [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	$ 600,000,000
Revolving Credit Facility [Member] \| Amended and Restated Credit Facility Agreement [Member] \| Line of Credit [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity		$ 800,000,000

Indebtedness (Components Of Indebtedness) (Details)	12 Months Ended
Indebtedness (Components Of Indebtedness) (Details)	Dec. 31, 2014 USD ($)	Dec. 31, 2013 USD ($)	Dec. 31, 2012 USD ($)	Dec. 31, 2014 EUR (€)	Jun. 30, 2014 $ / shares
Debt Instrument [Line Items]
Repayments of Convertible Debt	$ 201,200,000	$ 0	$ 0
Letters of Credit Outstanding, Amount	18,500,000	16,700,000
Credit Facility	404,400,000	360,000,000
Other long-term debt	145,500,000	114,000,000
Total indebtedness	1,091,900,000	1,250,200,000
Less: Current portion of long-term debt	(94,300,000)	(110,500,000)
Convertible senior subordinated notes	0	(201,200,000)
Total indebtedness, less current portion	$ 997,600,000	$ 938,500,000
Debt Instrument, Interest Rate, Effective Percentage		6.10%	6.10%
5 7/8% Senior Notes due 2021
Debt Instrument [Line Items]
Debt Interest Rate	5.875%	5.875%		5.875%
Senior Notes	$ 300,000,000	$ 300,000,000
Debt Instrument, Face Amount	$ 300,000,000.0
Senior Unsecured Term Loan Due May 2, 2016, 4.5%
Debt Instrument [Line Items]
Debt Interest Rate	4.50%	4.50%		4.50%
Senior Notes	$ 242,000,000	$ 275,000,000		€ 200,000,000.0
1 1/4percent Convertible Senior Subordinated Notes Due December 15, 2036
Debt Instrument [Line Items]
Debt repurchased	$ 49,700,000
Debt Instrument, Maturity Date	Dec. 15, 2036
Debt Instrument, Convertible, Conversion Price \| $ / shares					$ 40.27
Debt Conversion, Converted Instrument, Amount	$ 151,500,000	$ 100,000
Debt Interest Rate	1.25%	1.25%		1.25%
Convertible Debt	$ 0	$ 201,200,000
Convertible senior subordinated notes	$ 0	(201,200,000)
Debt Instrument, Convertible, Conversion Ratio	24.8295
Debt Instrument, Convertible, Converted Value in Excess of Principal	$ 81,000,000	$ 100,000

Indebtedness (Maturities of Long-term Debt) (Details) - USD ($) $ in Millions	Dec. 31, 2014	Dec. 31, 2013
Aggregate scheduled maturities of long-term debt, excluding current maturities
2016	$ 268.0
2017	24.5
2018	4.8
2019	384.9
Thereafter	315.4
Total indebtedness, less current portion	$ 997.6	$ 938.5

Indebtedness (Carrying Amount Of The Convertible Senior Subordinated Notes) (Details) - 1 1/4percent Convertible Senior Subordinated Notes Due December 15, 2036 - USD ($) $ in Millions	Dec. 31, 2014	Dec. 31, 2013
Carrying amount of the equity component		$ 54.3
Convertible Debt	$ 0.0	$ 201.2

Indebtedness (Interest Expense Recognized On Convertible Senior Subordinated Notes) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Interest Paid	$ 68.4	$ 66.4	$ 70.0
1 1/4percent Convertible Senior Subordinated Notes Due December 15, 2036
Interest expense	$ 0.9	$ 11.7	$ 11.2

Employee Benefit Plans (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Unrecognized net actuarial loss		$ 341.5	$ 279.4	$ 355.2
Reduction in equity		$ (253.3)	$ (206.4)	$ (262.9)
Minimum
Percentage of joint venture's unrecognized net actuarial losses and unrecognized prior service cost		20.00%
GIMA
Reduction in equity		$ 1.6
Tax effect of benefit plans		$ 0.6
Percentage of joint venture's unrecognized net actuarial losses and unrecognized prior service cost		50.00%	50.00%
Defined Benefit Plan, Recognized Net Gain (Loss) Due to Settlements		$ (0.2)
GIMA and Fella's
Unrecognized net actuarial loss			$ 1.3
Tax effect of benefit plans			0.4
Pension and Other Postretirement Benefit Plans [Member]
Unrecognized net actuarial loss		339.9	278.1
Aggregate projected benefit obligation		956.4	910.6
Accumulated benefit obligation		901.7	863.7
Fair value of plan assets		677.2	653.1
Tax effect of benefit plans		$ 87.6	$ 72.6
Pension Benefits
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Return on Assets		6.90%	6.80%	7.00%
Unrecognized net actuarial loss		$ 329.7	$ 265.5
Net prior service (credit) cost		3.2	4.6
Defined Benefit Plan, Recognized Net Gain (Loss) Due to Settlements		(0.4)	(0.1)	$ (0.2)
Pension and Other Postretirement Benefit Plans, Accumulated Other Comprehensive Income (Loss), before Tax		(332.9)	(270.1)
Defined Benefit Plan, Expected Future Benefit Payments, Next Twelve Months, Less Than		54.9
Benefit payments made		55.9	$ 54.1
Defined Benefit Plan, Benefits and Settlements Paid		$ 60.1
U.S. Based Pension Benefit Plans
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Return on Assets		7.00%	7.00%	7.75%
Defined Benefit Plan, Assumptions Used in Investment Strategy, Expected Return Next Fiscal Year		6.00%
Aggregate projected benefit obligation		$ 102.9	$ 85.1
Accumulated benefit obligation		90.2	77.4
Fair value of plan assets		41.5	$ 41.9
Expected minimum contribution		2.9
Non-U.S. Pension Benefit Plans
Expected minimum contribution		$ 35.8
U.K. Pension Plans, Defined Benefit
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Return on Assets		7.00%
Expected minimum contribution		$ 23.8
ENPP
Period over which retirement benefits are paid		15 years
Period considered when determining retirement benefits		3 years
Minimum age for vesting		50 years
Minimum service period to vest		5 years
Minimum participation period to qualify for payment		10 years
Minimum age to receive benefits		65 years
Defined Benefit Plan, Maximum Service Period For Qualification		20 years
Defined Benefit Plan, Final Years of Service Period For Qualification		10 years
ENPP \| Minimum
Benefits paid to executives, percent		2.25%
ENPP \| Maximum
Benefits paid to executives, percent		3.00%
Brazilian Postretirement Benefit Obligation, Defined Benefit
Defined Benefit Plan, Ultimate Health Care Cost Trend Rate		6.45%	6.45%
Defined Benefit Plan, Health Care Cost Trend Rate Assumed for Next Fiscal Year		12.25%	12.25%
Defined Benefit Plan, Expected Future Benefit Payments, Next Twelve Months, Less Than		$ 0.1
Postretirement Benefits
Unrecognized net actuarial loss		3.3	$ 4.1
Net prior service (credit) cost		3.7	3.9
Pension and Other Postretirement Benefit Plans, Accumulated Other Comprehensive Income (Loss), before Tax		(7.0)	(8.0)
Defined Benefit Plan, Expected Future Benefit Payments, Next Twelve Months, Less Than		1.5
Benefit payments made		$ 1.6	$ 1.8
U.S Based Postretirement Health Care and Life Insurance Benefit Plans
Defined Benefit Plan, Ultimate Health Care Cost Trend Rate		5.00%
Defined Benefit Plan, Health Care Cost Trend Rate Assumed for Next Fiscal Year		7.00%	7.50%
Defined Benefit Plan, Expected Future Benefit Payments, Next Twelve Months, Less Than		$ 1.5
Forecast \| Pension Benefits
Net actuarial (gain) loss that will be amortized from accumulated other comprehensive loss	$ 11.4
Net prior service (credit) cost that will be amortized from accumulated other comprehensive loss	(0.4)
Forecast \| Postretirement Benefits
Net actuarial (gain) loss that will be amortized from accumulated other comprehensive loss	0.1
Net prior service (credit) cost that will be amortized from accumulated other comprehensive loss	$ (0.2)

Employee Benefit Plans (Net Pension And Postretirement Cost) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Defined Benefit Plan, Other Costs	$ 0.2	$ 0.0	$ 0.0
Pension Benefits
Service cost	16.8	18.0	17.2
Interest cost	37.3	35.4	39.6
Expected return on plan assets	(44.5)	(37.6)	(36.3)
Amortization of prior service cost	0.8	0.8	0.8
Amortization of net actuarial loss	9.5	14.0	9.8
Settlement loss	0.4	0.1	0.2
Curtailment gain	(0.5)	0.0	0.0
Special termination benefits	1.3	0.0	0.0
Net annual pension cost	$ 21.0	$ 30.7	$ 31.3
Weighted average discount rate	4.40%	4.30%	5.00%
Postretirement Benefits
Service cost	$ 0.1	$ 0.1	$ 0.1
Interest cost	1.6	1.7	1.5
Amortization of prior service cost	0.2	0.2	(0.2)
Amortization of net actuarial loss	0.1	0.5	0.4
Special termination benefits	0.2	0.0
Net annual pension cost	$ 2.2	$ 2.5	$ 1.8
Weighted average discount rate	5.30%	4.70%	4.80%

Employee Benefit Plans (Net Periodic Pension Costs Included in Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Accumulated other comprehensive loss, before tax, beginning of period	$ (279.4)	$ (355.2)
Accumulated other comprehensive loss, tax, beginning of period	(73.0)	(92.3)
Accumulated other comprehensive loss, after tax, beginning of period	(206.4)	(262.9)
Net loss recognized due to settlement, before tax	0.6	0.1
Net loss recognized due to settlement, tax	0.2	0.1
Net loss recognized due to settlement	0.4	0.0	$ 0.0
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net Gain (Loss) due to curtailment, before tax	(0.5)
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net Gain (Loss) due to curtailment, tax	(0.1)
Net gain recognized due to curtailment	(0.4)	0.0	0.0
Net actuarial gain arising during the year, before tax	(72.8)	60.1
Net actuarial gain arising during the year, tax	(18.0)	14.9
Net actuarial gain arising during the year, after tax	(54.8)	45.2	(28.2)
Amortization of prior service cost	1.0	1.1
Amortization of prior service costs, tax	0.4	0.5
Amortization of prior service costs, after tax	0.6	0.6	0.4
Amortization of net actuarial loss	9.6	14.5
Amortization of net actuarial loss, tax	2.3	3.8
Amortization of net actuarial losses included in net periodic pension cost	7.3	10.7	7.6
Accumulated other comprehensive loss, before tax, end of period	(341.5)	(279.4)	(355.2)
Accumulated other comprehensive loss, tax, end of period	(88.2)	(73.0)	(92.3)
Accumulated other comprehensive loss, after tax, end of period	$ (253.3)	$ (206.4)	$ (262.9)

Employee Benefit Plans (Assumptions for Pension and Postretirement Cost) (Details)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Minimum
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Rate of increase in future compensation	2.50%	2.50%	2.50%
Maximum
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Rate of increase in future compensation	5.00%	5.00%	5.00%
Pension Benefits
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Weighted average discount rate	4.40%	4.30%	5.00%
Weighted average expected long-term rate of return on plan assets	6.90%	6.80%	7.00%
U.S. Based Pension Benefit Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Weighted average discount rate	4.75%	3.85%	4.60%
Weighted average expected long-term rate of return on plan assets	7.00%	7.00%	7.75%
Rate of increase in future compensation	5.00%	5.00%	5.00%

Employee Benefit Plans (Net Funded Status) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Change in plan assets
Other	$ 0.2	$ 0.0	$ 0.0
Unrecognized net actuarial loss	341.5	279.4	355.2
Amounts recognized in Consolidated Balance Sheets:
Pensions and postretirement health care benefits (noncurrent)	(269.0)	(246.4)
Pension Benefits
Change in benefit obligation
Benefit obligation, beginning of period	888.2	881.9
Service cost	(16.8)	(18.0)	(17.2)
Interest cost	(37.3)	(35.4)	(39.6)
Plan participants’ contributions	1.3	1.3
Actuarial loss (gain)	109.6	(10.1)
Settlements	(4.2)	(0.6)
Defined Benefit Plan, Curtailments	7.3	0.0
Benefits paid	(55.9)	(54.1)
Special termination benefits	1.3	0.0	0.0
Foreign currency exchange rate changes	(60.3)	16.4
Benefit obligation, end of period	926.8	888.2	881.9
Change in plan assets
Fair value of plan assets at beginning of year	660.7	576.7
Actual return on plan assets	73.7	81.3
Employer contributions	43.4	42.2
Plan participants’ contributions	(1.3)	(1.3)
Benefits paid	(55.9)	(54.1)
Settlements	(4.2)	(0.6)
Foreign currency exchange rate changes	(41.8)	13.9
Fair value of plan assets at end of year	677.2	660.7	576.7
Funded status	(249.6)	(227.5)
Unrecognized net actuarial loss	329.7	265.5
Unrecognized prior service cost	3.2	4.6
Accumulated other comprehensive loss	(332.9)	(270.1)
Net amount recognized	(249.6)	(227.5)
Amounts recognized in Consolidated Balance Sheets:
Other current liabilities	(3.3)	(4.2)
Accrued expenses	(5.4)	(5.4)
Pensions and postretirement health care benefits (noncurrent)	(240.9)	(217.9)
Postretirement Benefits
Change in benefit obligation
Benefit obligation, beginning of period	30.3	37.0
Service cost	(0.1)	(0.1)	(0.1)
Interest cost	(1.6)	(1.7)	(1.5)
Plan participants’ contributions	0.0	0.0
Actuarial loss (gain)	(0.7)	(6.2)
Settlements	0.0	0.0
Defined Benefit Plan, Curtailments	0.0	0.0
Benefits paid	(1.6)	(1.8)
Special termination benefits	0.2	0.0
Foreign currency exchange rate changes	(0.3)	(0.5)
Benefit obligation, end of period	29.6	30.3	37.0
Change in plan assets
Fair value of plan assets at beginning of year	0.0	0.0
Actual return on plan assets	0.0	0.0
Employer contributions	1.6	1.8
Plan participants’ contributions	0.0	0.0
Benefits paid	(1.6)	(1.8)
Settlements	0.0	0.0
Foreign currency exchange rate changes	0.0	0.0
Fair value of plan assets at end of year	0.0	0.0	$ 0.0
Funded status	(29.6)	(30.3)
Unrecognized net actuarial loss	3.3	4.1
Unrecognized prior service cost	3.7	3.9
Accumulated other comprehensive loss	(7.0)	(8.0)
Net amount recognized	(29.6)	(30.3)
Amounts recognized in Consolidated Balance Sheets:
Other current liabilities	(1.5)	(1.8)
Accrued expenses	0.0	0.0
Pensions and postretirement health care benefits (noncurrent)	$ (28.1)	$ (28.5)

Employee Benefit Plans (Assumptions for Benefit Obligation) (Details)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Pension Benefits
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Weighted average discount rate	3.50%	4.40%
U.S. Based Pension Benefit Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Rate of Compensation Increase	5.00%	5.00%	5.00%
Weighted average discount rate	4.15%	4.75%
Rate of increase in future compensation	5.00%	5.00%
Postretirement Benefits
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Weighted average discount rate	4.60%	5.30%
Minimum
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Rate of Compensation Increase	2.50%	2.50%	2.50%
Rate of increase in future compensation	2.50%	2.50%
Maximum
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Rate of Compensation Increase	5.00%	5.00%	5.00%
Rate of increase in future compensation	5.00%	5.00%

Employee Benefit Plans (Asset Allocation) (Details)	12 Months Ended
Employee Benefit Plans (Asset Allocation) (Details)	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Asset Category
Target allocation, near-term benefit payments	30.00%
Target allocation, long-term growth	70.00%
U.S. Based Pension Benefit Plans
Asset Category
Equity Securities	100.00%	100.00%
Target allocation, near-term benefit payments	15.00%
Target allocation, long-term growth	85.00%
Defined Benefit Plan, Assumptions Used in Investment Strategy, Expected Return Next Fiscal Year	6.00%
Weighted average expected long-term rate of return on plan assets	7.00%	7.00%	7.75%
Non-U.S. Pension Benefit Plans
Asset Category
Equity Securities	100.00%	100.00%
Defined Benefit Plan, Historical Average Return on Asset Mix	7.30%
Equity Securities
Asset Category
Target allocation, equity securities	45.00%
Equity Securities \| Non-U.S. Pension Benefit Plans
Asset Category
Equity Securities	42.00%	45.00%
Large and Small Cap Domestic \| U.S. Based Pension Benefit Plans
Asset Category
Equity Securities	28.00%	48.00%
Target allocation, equity securities	30.00%
International Securities \| U.S. Based Pension Benefit Plans
Asset Category
Equity Securities	10.00%	16.00%
Target allocation, equity securities	12.00%
Fixed Income Securities \| U.S. Based Pension Benefit Plans
Asset Category
Equity Securities	42.00%	16.00%
Target allocation, equity securities	44.00%
Fixed Income Securities \| Non-U.S. Pension Benefit Plans
Asset Category
Equity Securities	38.00%	30.00%
Other Investment Companies \| U.S. Based Pension Benefit Plans
Asset Category
Equity Securities	20.00%	20.00%
Other Investments \| Non-U.S. Pension Benefit Plans
Asset Category
Equity Securities	20.00%	25.00%
Fixed Income Investments
Asset Category
Target allocation, equity securities	35.00%
Alternative Investments
Asset Category
Target allocation, equity securities	20.00%
Alternative Investments \| U.S. Based Pension Benefit Plans
Asset Category
Target allocation, equity securities	14.00%

Employee Benefit Plans (Fair Value of Plan Assets) (Details) - Pension Benefits - USD ($)
$ in Millions

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

Percentage of fixed income securities consisting of investment-grade corporate bonds

$ 677.2

$ 660.7

$ 576.7

37.00%

31.00%

Percentage of fixed income securities consisting of government treasuries

39.00%

40.00%

Percentage of fixed income securities consisting of other various fixed income securities

24.00%

29.00%

Percentage of alternative investments consisting of multi-strategy funds

4.00%

5.00%

Percentage of alternative investments consisting of long-short equity funds

34.00%

35.00%

Percentage of alternative investments consisting of event-driven funds

31.00%

29.00%

Percentage of alternative investments consisting of relative value funds

12.00%

Percentage of alternative investments consisting of credit funds

10.00%

12.00%

Percentage of alternative investments consisting of hedged and non-hedged funds

9.00%

7.00%

Level 1

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

$ 522.6

$ 478.1

Level 2

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

7.5

10.8

Level 3

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

147.1

171.8

152.6

Equity Securities

Equity Securities | Level 1

274.6

290.8

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

274.6

290.8

Global Equities

Global Equities | Level 1

135.9

132.0

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

135.9

132.0

Non-U.S. Equities

Non-U.S. Equities | Level 1

4.3

6.7

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

4.3

6.7

U.K. Equities

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

122.8

132.0

U.K. Equities | Level 1

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

122.8

132.0

U.S. Large Cap Equities

U.S. Large Cap Equities | Level 1

7.1

13.9

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

7.1

13.9

U.S. Small Cap Equities

U.S. Small Cap Equities | Level 1

4.5

6.2

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

4.5

6.2

Fixed Income Securities

Fixed Income Securities | Level 1

248.0

^[1]

187.3

^[2]

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

248.0

^[1]

187.3

^[2]

Aggregate Fixed Income

Aggregate Fixed Income | Level 1

17.5

6.5

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

17.5

6.5

International

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

230.5

180.8

International | Level 1

Cash and Cash Equivalents

230.5

180.8

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

Cash and Cash Equivalents | Level 2

7.5

10.8

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

7.5

10.8

Cash

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

7.5

10.8

Cash | Level 2

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

7.5

10.8

Alternative Investments

Alternative Investments | Level 3

124.3

^[2]

146.0

^[3]

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

124.3

^[2]

146.0

^[3]

127.1

Miscellaneous Funds

Miscellaneous Funds | Level 3

22.8

25.8

^[4]

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]

$ 22.8

$ 25.8

^[4]

$ 25.5

[1]	39% of “fixed income” securities are in government treasuries; 37% are in investment-grade corporate bonds; and 24% are in other various fixed income securities.
[2]	34% of “alternative investments” are in long-short equity funds; 31% are in event-driven funds; 12% are in relative value funds; 10% are in credit funds; 9% are distributed in hedged and non-hedged funds; and 4% are in multi-strategy funds.
[3]	35% of “alternative investments” are in long-short equity funds; 29% are in event-driven funds; 12% are in relative value funds; 12% are in credit funds; 7% are distributed in hedged and non-hedged funds; and
[4]	“Miscellaneous funds” is comprised of pooled funds in Australia and various contracts in Finland, Norway and Switzerland

Employee Benefit Plans (Reconciliation of Level 3 Assets) (Details) - Pension Benefits - USD ($)
$ in Millions

12 Months Ended

Dec. 31, 2014

Dec. 31, 2013

$ 660.7

$ 576.7

(41.8)

13.9

Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]

677.2

660.7

Alternative Investments

^[1]

146.0

Miscellaneous Investments

124.3

^[2]

146.0

^[1]

Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]

^[3]

25.8

Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]

22.8

25.8

^[3]

Level 3

Relating to assets still held at reporting date

171.8

152.6

6.3

15.4

Relating to assets sold during period

2.3

0.3

Purchases, sales and /or settlements

(22.6)

0.5

(10.7)

3.0

Level 3 | Alternative Investments

147.1

171.8

Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]

Relating to assets still held at reporting date

146.0

^[1]

127.1

5.1

15.1

Relating to assets sold during period

2.3

0.3

Purchases, sales and /or settlements

(21.7)

0.3

(7.4)

3.2

Level 3 | Miscellaneous Investments

124.3

^[2]

146.0

^[1]

Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]

Relating to assets still held at reporting date

25.8

^[3]

25.5

1.2

0.3

Purchases, sales and /or settlements

(0.9)

0.2

(3.3)

(0.2)

$ 22.8

$ 25.8

^[3]

[1]	35% of “alternative investments” are in long-short equity funds; 29% are in event-driven funds; 12% are in relative value funds; 12% are in credit funds; 7% are distributed in hedged and non-hedged funds; and
[2]	34% of “alternative investments” are in long-short equity funds; 31% are in event-driven funds; 12% are in relative value funds; 10% are in credit funds; 9% are distributed in hedged and non-hedged funds; and 4% are in multi-strategy funds.
[3]	“Miscellaneous funds” is comprised of pooled funds in Australia and various contracts in Finland, Norway and Switzerland

Employee Benefit Plans (One Percentage Point Change in Health Care Trend Rate) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2014 USD ($)
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Effect on service and interest cost, One percentage point increase	$ 0.2
Effect on service and interest cost, One percentage point decrease	(0.2)
Effect on accumulated benefit obligation, One percentage point increase	3.8
Effect on accumulated benefit obligation, One percentage point decrease	$ (3.2)

Employee Benefit Plans (Expected Future Minimum Payments) (Details) $ in Millions	Dec. 31, 2014 USD ($)
Pension Benefits
Aggregate expected benefit payments
2015	$ 54.9
2016	50.8
2017	52.5
2018	52.5
2019	53.0
2020 through 2024	286.4
Total	550.1
Postretirement Benefits
Aggregate expected benefit payments
2015	1.5
2016	1.6
2017	1.6
2018	1.7
2019	1.7
2020 through 2024	9.2
Total	$ 17.3

Employee Benefit Plans (Defined Contribution Plans) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Pension and Other Postretirement Benefit Expense [Abstract]
Employer discretionary contribution, amount	$ 13.3	$ 13.0	$ 11.7

Stockholders' Equity (Narrative) (Details) - USD ($)	2 Months Ended		4 Months Ended	12 Months Ended
Stockholders' Equity (Narrative) (Details) - USD ($)	Feb. 17, 2015	Feb. 28, 2014	May 07, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Jan. 22, 2015
Accelerated Share Repurchases [Line Items]
Common stock, shares authorized				150,000,000	150,000,000
Common stock, par value				$ 0.01	$ 0.01
Common stock, shares outstanding				89,146,093	97,362,466
Shares available for grant				3,600,000
Stockholder Rights Plan, Right To Purchase Junior Cummulative Preferred Stock, Number Of Shares Per Common Stock				0.01
Stock Repurchase Program, Authorized Amount				$ 1,050,000,000
Stock Repurchased During Period, Shares		8,200,000		1,818,139	100,000.0	409,007
Stock Repurchased During Period, Value				$ 499,700,000	$ 1,000,000	$ 17,600,000
Stock Repurchased and Retired During Period, Average Cost Per Share				$ 46.60	$ 49.34	$ 43.14
Stock Repurchase Program, Remaining Authorized Repurchase Amount				$ 531,700,000
Common Stock, Quarterly Dividends, Per Share, Cash Paid				$ 0.11	$ 0.10
July 2012 Share Repurchase Program
Accelerated Share Repurchases [Line Items]
Stock Repurchase Program, Authorized Amount				$ 50,000,000
December 2013 ASR Program
Accelerated Share Repurchases [Line Items]
Stock Repurchase Program, Authorized Amount				500,000,000.0
Stock Repurchased During Period, Value				415,000,000
December 2014 ASR Program [Member]
Accelerated Share Repurchases [Line Items]
Stock Repurchase Program, Authorized Amount				500,000,000
Open Market Transaction [Member]
Accelerated Share Repurchases [Line Items]
Stock Repurchased During Period, Value				$ 84,700,000
Subsequent Event
Accelerated Share Repurchases [Line Items]
Stock Repurchased During Period, Shares	900,000
Common Stock, Quarterly Dividends, Per Share, Declared							$ 0.12
Subsequent Event \| December 2014 ASR Program [Member]
Accelerated Share Repurchases [Line Items]
Stock Repurchased During Period, Value			$ 62,500,000

Stockholders' Equity Changes in Accumulated Other Comprehensive Income (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Accumulated other comprehensive (loss) income, beginning of period	$ (510.7)	$ (479.4)
Other comprehensive loss before reclassifications	(405.2)	(43.1)
Net losses reclassified from accumulated other comprehensive loss	9.4	11.8
Other comprehensive (loss) income, net of reclassification adjustments	(395.8)	(31.3)
Accumulated other comprehensive (loss) income, end of period	(906.5)	(510.7)
Deferred Gains (Losses) on Derivatives
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Accumulated other comprehensive (loss) income, beginning of period	(0.2)	0.7
Other comprehensive loss before reclassifications	(1.4)	(1.4)
Net losses reclassified from accumulated other comprehensive loss	1.5	0.5
Other comprehensive (loss) income, net of reclassification adjustments	0.1	(0.9)
Accumulated other comprehensive (loss) income, end of period	(0.1)	(0.2)
Defined Benefit Pension Plans
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Accumulated other comprehensive (loss) income, beginning of period	(206.4)	(262.9)
Other comprehensive loss before reclassifications	(54.8)	45.2
Net losses reclassified from accumulated other comprehensive loss	7.9	11.3
Other comprehensive (loss) income, net of reclassification adjustments	(46.9)	56.5
Accumulated other comprehensive (loss) income, end of period	(253.3)	(206.4)
Cumulative Translation Adjustment
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Accumulated other comprehensive (loss) income, beginning of period	(304.1)	(217.2)
Other comprehensive loss before reclassifications	(349.0)	(86.9)
Net losses reclassified from accumulated other comprehensive loss	0.0	0.0
Other comprehensive (loss) income, net of reclassification adjustments	(349.0)	(86.9)
Accumulated other comprehensive (loss) income, end of period	$ (653.1)	$ (304.1)

Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]

Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge.

+ References + Details

Stockholders' Equity Reclassification Out of Accumulated Other Comprehensive Income (Details) - USD ($)
$ in Millions

12 Months Ended

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

Cost of goods sold

$ 7,657.4

$ 8,396.3

$ 7,839.0

Income tax provision

187.7

258.5

137.9

Net income attributable to AGCO Corporation and subsidiaries

(410.4)

(597.2)

(522.1)

Amortization of net actuarial loss

(9.6)

(14.5)

Amortization of prior service cost

(1.0)

(1.1)

Income before income taxes and equity in net earnings of affiliates

(539.0)

(802.6)

(600.8)

Accumulated other comprehensive loss

(906.5)

(510.7)

(479.4)

Deferred Gains (Losses) on Derivatives

Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]

Accumulated other comprehensive loss

(0.1)

(0.2)

0.7

Defined Benefit Pension Plans

Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]

Accumulated other comprehensive loss

(253.3)

(206.4)

$ (262.9)

Reclassification out of Accumulated Other Comprehensive Income

Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]

Net income attributable to AGCO Corporation and subsidiaries

^[1]

9.4

11.8

Reclassification out of Accumulated Other Comprehensive Income | Deferred Gains (Losses) on Derivatives

Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]

Cost of goods sold

^[1]

1.4

0.7

Income tax provision

^[1]

0.1

(0.2)

Net income attributable to AGCO Corporation and subsidiaries

^[1]

1.5

0.5

Reclassification out of Accumulated Other Comprehensive Income | Defined Benefit Pension Plans

Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]

Income tax provision

^[1]

(2.7)

(4.3)

Net income attributable to AGCO Corporation and subsidiaries

^[1]

7.9

11.3

Amortization of net actuarial loss

^[1],[2]

9.6

14.5

Amortization of prior service cost

^[1],[2]

1.0

1.1

Income before income taxes and equity in net earnings of affiliates

^[1]

$ 10.6

$ 15.6

[1]	Losses included within the Consolidated Statements of Operations for the years ended December 31, 2014 and 2013, respectively.
[2]	These accumulated other comprehensive loss components are included in the computation of net periodic pension and postretirement benefit cost. See Note 8 to the Company’s Consolidated Financial Statements.

Stock Incentive Plan (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions			4 Months Ended	8 Months Ended	12 Months Ended
	Jan. 21, 2015	Apr. 25, 2013	Apr. 23, 2014	Dec. 31, 2014	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Common stock, shares issuable				150,000,000	150,000,000	150,000,000
Shares Paid for Tax Withholding					113,334	226,721
Stock compensation expense					$ (10.6)	$ 34.9	$ 37.0
Shortfall in tax benefit of stock awards					$ 0.2
Excess tax benefit of stock awards						$ 11.4
Shares available for grant				3,600,000	3,600,000
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period					4 years
Restricted Stock
Shares awarded		18,846
Stock compensation expense					$ 1.1
Restricted common stocks issued		14,907
Weighted-average period for compensation cost expected to be recognized, in years			3 years	1 year
Long Term Incentive Plan
Shares earned under the performance period					286,804	622,018
Long Term Incentive Plan \| Minimum
Share-based Compensation, Percentage of Target Award Which Participant May Earn					33.00%
Long Term Incentive Plan \| Maximum
Share-based Compensation, Percentage of Target Award Which Participant May Earn					200.00%
Performance Shares
Weighted average grant-date fair value of performance awards granted					$ 53.87	$ 51.51	$ 52.11
Shares earned under the performance period					896,266
Shares awarded					887,198
Stock compensation expense					$ (16.9)
Number of shares not vested				2,481,767	2,481,767	2,808,519
Performance Shares \| Subsequent Event
Shares awarded	358,950
Margin Incentive Plan \| Minimum
Share-based Compensation, Percentage of Target Award Which Participant May Earn					33.00%
Margin Incentive Plan \| Maximum
Share-based Compensation, Percentage of Target Award Which Participant May Earn					300.00%
Stock Appreciation Rights (SARs)
Weighted average grant-date fair value of performance awards granted					$ 13.11	$ 21.10	$ 22.50
Compensation cost related to unearned performance awards				$ 8.6	$ 8.6
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Period for Recognition					2 years
Stock compensation expense					$ 5.2	$ 4.7	$ 3.8
Weighted average remaining contractual life of SSARs outstanding, in years					4 years
Total fair value of SSARs vested					$ 4.3
Number of shares not vested				624,747	624,747
Total intrinsic value of outstanding SSARs				$ 2.7	$ 2.7
Total intrinsic value of SSARs exercised					$ 2.6
SSARs granted					301,400
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term					3 years	5 years 6 months	5 years 6 months
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate					0.90%	0.90%	0.80%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate					35.70%	50.30%	51.00%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate					0.80%	0.80%	0.00%
Stock Appreciation Rights (SARs) \| Subsequent Event
SSARs granted	325,200
Restricted Stock Units (RSUs) [Member] \| Subsequent Event
SSARs granted	142,150
2006 Plan
Common stock, shares issuable				10,000,000.0	10,000,000.0
Share-based Compensation Arrangement by Share-based Payment Award, Award Requisite Service Period					3 years
2006 Plan \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award, Award Requisite Service Period					3 years
2006 Plan \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award, Award Requisite Service Period					5 years
Director Restricted Stock Award Year One
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period					5 years
Director Restricted Stock Grants Year Two
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period					4 years

Stock Incentive Plan Stock Incentive Plan (Performance Awards Earned and Issued) (Details) - shares	2 Months Ended	12 Months Ended
	Feb. 28, 2015	Dec. 31, 2014	Dec. 31, 2013
Schedule of Share-based compensation arrangements by share-based payment award, performance shares earned and issued [Line Items]
Shares Paid for Tax Withholding		113,334	226,721
Share-based compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Issued			395,297
Long Term Incentive Plan
Schedule of Share-based compensation arrangements by share-based payment award, performance shares earned and issued [Line Items]
Shares earned under the performance period		286,804	622,018
Subsequent Event
Schedule of Share-based compensation arrangements by share-based payment award, performance shares earned and issued [Line Items]
Share-based compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Issued	173,470

Stock Incentive Plan (Performance Award Transactions) (Details) - Performance Shares	12 Months Ended
	Dec. 31, 2014 shares
Share Activity
Shares awarded but not earned at January 1	2,808,519
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod	887,198
Shares forfeited or unearned	(317,684)
Shares earned	(896,266)
Shares awarded but not earned at December 31	2,481,767

Stock Incentive Plan (SSAR Activity) (Details)	12 Months Ended
Stock Incentive Plan (SSAR Activity) (Details)	Dec. 31, 2014 $ / shares shares
Current Fiscal Year End Date	--12-31
Minimum
Share Activity
SSAR price ranges per share, Granted	52.85
SSAR price ranges per share, Exercised	21.45
SSAR price ranges per share, Canceled	21.45
Maximum
Share Activity
SSAR price ranges per share, Granted	55.23
SSAR price ranges per share, Exercised	52.94
SSAR price ranges per share, Canceled	56.98
Stock Appreciation Rights (SARs)
Share Activity
SSARs, beginning of period \| shares	1,094,836
SSARs granted \| shares	301,400
SSARs exercised \| shares	(112,050)
SSARs canceled or forfeited \| shares	(63,362)
SSARs, end of period \| shares	1,220,824
Weighted average SSAR exercise prices per share, Granted	$ 55.20
Weighted average SSAR exercise prices per share, Exercised	23.08
Weighted average SSAR exercise prices per share, Canceled or forfeited	53.31
ShareBasedCompensationSharesAuthorizedUnderStockSettledStockAppreciationRightsPlanWeightedAverageExercisePricePerShareOutstanding	$ 50.31

Stock Incentive Plan (Schedule Of SSAR Exercise Price Range, Number Of Shares, Weighted Average Exercise Price And Remaining Contractual Lives) (Details) - $ / shares	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Current Fiscal Year End Date	--12-31
Shares available for grant	3,600,000
$21.45 - $32.01
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise Prices, lower limit	$ 21.45
Range of Exercise Prices, upper limit	32.01
$33.65 - $43.39
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise Prices, lower limit	33.65
Range of Exercise Prices, upper limit	43.39
$47.89 - $63.64
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise Prices, lower limit	47.89
Range of Exercise Prices, upper limit	$ 63.64
Stock Appreciation Rights (SARs)
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number	1,220,824	1,094,836
SSARs Exercisable, Exercisable as of December 31, 2012	596,077
SSARs Exercisable, Weighted Average Exercise Price	$ 46.49
Stock Appreciation Rights (SARs) \| $21.45 - $32.01
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number	56,625
SSAR Outstanding, Weighted Average Remaining Contractual Life (Years)	1 year 2 months 12 days
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Outstanding, Weighted Average Exercise Price	$ 22.64
SSARs Exercisable, Exercisable as of December 31, 2012	56,625
SSARs Exercisable, Weighted Average Exercise Price	$ 22.64
Stock Appreciation Rights (SARs) \| $33.65 - $43.39
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number	125,525
SSAR Outstanding, Weighted Average Remaining Contractual Life (Years)	2 years 1 month 6 days
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Outstanding, Weighted Average Exercise Price	$ 33.88
SSARs Exercisable, Exercisable as of December 31, 2012	124,800
SSARs Exercisable, Weighted Average Exercise Price	$ 33.82
Stock Appreciation Rights (SARs) \| $47.89 - $63.64
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number	1,038,674
SSAR Outstanding, Weighted Average Remaining Contractual Life (Years)	4 years 6 months
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Outstanding, Weighted Average Exercise Price	$ 53.80
SSARs Exercisable, Exercisable as of December 31, 2012	414,652
SSARs Exercisable, Weighted Average Exercise Price	$ 53.56

Derivative Instruments and Hedging Activities (Narrative) (Details)
$ in Millions

12 Months Ended

Dec. 31, 2014

USD ($)

country

Dec. 31, 2013

USD ($)

Dec. 31, 2012

USD ($)

Dec. 31, 2011

USD ($)

Derivative Instruments, Gain (Loss) [Line Items]

Number of countries where products sold | country

140

Net losses (gains) reclassified from accumulated other comprehensive loss into income

^[1]

$ (1.5)

$ (0.5)

$ (8.1)

Accumulated derivative net gains (losses)

^[1]

(0.1)

(0.2)

0.7

$ (4.3)

Derivative Instruments, Gain (Loss) [Line Items]

1,834.3

Cash Flow Hedging

Net losses (gains) reclassified from accumulated other comprehensive loss into income

1.5

0.5

8.1

Accumulated derivative net gains (losses)

(0.1)

(0.2)

0.7

Foreign Exchange Contract

Derivative Instruments, Gain (Loss) [Line Items]

Gain (loss) on derivative instruments

(2.3)

9.5

$ 5.5

Not Designated as Hedging Instrument

Derivative Instruments, Gain (Loss) [Line Items]

Designated as Hedging Instrument

1,810.5

1,288.4

Derivative Instruments, Gain (Loss) [Line Items]

Foreign Exchange Contract

23.8

50.3

Derivative Instruments, Gain (Loss) [Line Items]

Accumulated derivative net gains (losses)

(9.2)

8.5

Foreign Exchange Contract | Not Designated as Hedging Instrument

Derivative Instruments, Gain (Loss) [Line Items]

Gain (loss) on derivative instruments

$ (9.0)

$ 8.6

[1]	Rounding may impact summation of amounts.

Derivative Instruments and Hedging Activities (Summary Of Accumulated Other Comprehensive Loss Related To Derivatives) (Details) - USD ($)
$ in Millions

12 Months Ended

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2014

Accumulated Other Comprehensive Income Related to Derivatives Held [Roll Forward]

Accumulated derivative net gains (losses), Before-Tax Amount, Beginning Balance

$ (0.3)

$ 1.1

$ (5.4)

Accumulated derivative net gains (losses), Income Tax, Beginning Balance

^[1]

(0.1)

0.4

(1.1)

Accumulated derivative net gains (losses), After-Tax Amount, Beginning Balance

^[1]

(0.2)

0.7

(4.3)

Net changes in fair value of derivatives, Before-Tax Amount

(1.3)

(2.1)

(2.0)

Net changes in fair value of derivatives, Income Tax

^[1]

0.1

(0.7)

1.1

Net losses (gains) reclassified from accumulated other comprehensive loss into income, Before-Tax Amount

^[1]

(1.4)

(3.1)

1.4

0.7

8.5

Net losses (gains) reclassified from accumulated other comprehensive loss into income, Income Tax

^[1]

(0.1)

0.2

0.4

Net losses (gains) reclassified from accumulated other comprehensive loss into income

^[1]

1.5

0.5

8.1

Accumulated derivative net gains (losses), Before-Tax Amount, Ending Balance

(0.2)

(0.3)

1.1

Accumulated derivative net gains (losses), Income Tax, Ending Balance

^[1]

(0.1)

0.4

Accumulated derivative net gains (losses), After-Tax Amount, Ending Balance

^[1]

$ (0.2)

$ 0.7

$ (4.3)

$ (0.1)

[1]	Rounding may impact summation of amounts.

Derivative Instruments and Hedging Activities ( Fair Value Of Derivative Instruments) (Details) - USD ($) $ in Millions	Dec. 31, 2014	Dec. 31, 2013
Derivative Asset Fair Value	$ 11.3	$ 13.9
Derivative Liability Fair Value	20.5	5.4
Designated as Hedging Instrument \| Foreign Exchange Contract \| Other Current Assets
Derivative Asset Fair Value	0.0	0.0
Designated as Hedging Instrument \| Foreign Exchange Contract \| Other Current Liabilities
Derivative Liability Fair Value	0.2	0.1
Not Designated as Hedging Instrument \| Foreign Exchange Contract \| Other Current Assets
Derivative Asset Fair Value	11.3	13.9
Not Designated as Hedging Instrument \| Foreign Exchange Contract \| Other Current Liabilities
Derivative Liability Fair Value	$ 20.3	$ 5.3

Commitments and Contingencies (Details)
R$ in Millions, $ in Millions

12 Months Ended

Oct. 30, 2012

defendant

Jun. 27, 2008

defendant

Dec. 31, 2014

USD ($)

Dec. 31, 2013

USD ($)

Dec. 31, 2012

USD ($)

Dec. 31, 2014

BRL (R$)

Interest payments related to indebtedness [Abstract]

2015

^[1]

$ 35.0

2016

^[1]

24.8

2017

^[1]

19.2

2018

^[1]

18.2

2019

^[1]

40.5

Thereafter

^[1]

29.6

Total

^[1]

167.3

Capital lease obligations [Abstract]

2.0

1.3

0.6

0.1

0.0

0.0

4.0

Operating lease obligations [Abstract]

52.2

35.5

24.8

18.2

11.6

51.9

194.2

Unconditional purchase obligations [Abstract]

2015

^[2]

100.2

2016

^[2]

16.9

2017

^[2]

8.1

2018

^[2]

5.6

2019

^[2]

0.1

Thereafter

^[2]

0.0

Total

^[2]

130.9

Other short-term and long-term obligations [Abstract]

2015

^[3]

107.8

2016

^[3]

34.2

2017

^[3]

40.9

2018

^[3]

52.5

2019

^[3]

44.0

Thereafter

^[3]

123.4

Total

^[3]

402.8

Total Contractual Cash Obligations [Abstract]

297.2

112.7

93.6

94.6

96.2

204.9

899.2

Guarantees Future Expiration

124.7

2.6

1.6

0.7

0.1

0.0

129.7

Guarantees [Abstract]

Guaranteed indebtedness owed to third parties

129.7