Document and Entity Information Document - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2015	Feb. 19, 2016	Jun. 30, 2015
Entity Information [Line Items]
Entity Registrant Name	AGCO CORP /DE
Entity Central Index Key	0000880266
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-K
Document Period End Date	Dec. 31, 2015
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Common Stock, Shares Outstanding		82,449,867
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Public Float			$ 4.2

Consolidated Statements of Operations - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Statement [Abstract]
Net sales	$ 7,467.3	$ 9,723.7	$ 10,786.9
Cost of goods sold	5,906.7	7,657.4	8,396.3
Gross profit	1,560.6	2,066.3	2,390.6
Selling, general and administrative expenses	852.3	995.4	1,088.7
Engineering expenses	282.2	337.0	353.4
Restructuring and other infrequent expenses	22.3	46.4	0.0
Amortization of intangibles	42.7	41.0	47.8
Income from operations	361.1	646.5	900.7
Interest expense, net	45.4	58.4	58.0
Other expense, net	36.3	49.1	40.1
Income before income taxes and equity in net earnings of affiliates	279.4	539.0	802.6
Income tax provision	72.5	187.7	258.5
Income before equity in net earnings of affiliates	206.9	351.3	544.1
Equity in net earnings of affiliates	57.1	52.9	48.2
Net income	264.0	404.2	592.3
Net loss attributable to noncontrolling interests	2.4	6.2	4.9
Net income attributable to AGCO Corporation and subsidiaries	$ 266.4	$ 410.4	$ 597.2
Net income per common share attributable to AGCO Corporation and subsidiaries:
Basic (in dollars per share)	$ 3.06	$ 4.39	$ 6.14
Diluted (in dollars per share)	3.06	4.36	6.01
Cash dividends declared and paid per common share (in dollars per share)	$ 0.48	$ 0.44	$ 0.4
Weighted average number of common and common equivalent shares outstanding:
Basic (in shares)	87.0	93.4	97.3
Diluted (in shares)	87.1	94.2	99.4

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Statement of Comprehensive Income [Abstract]
Net income	$ 264.0	$ 404.2	$ 592.3
Defined benefit pension plans, net of taxes:
Prior service cost arising during year	(4.7)	0.0	0.0
Net loss recognized due to settlement	0.2	0.4	0.0
Net gain recognized due to curtailment	0.0	(0.4)	0.0
Net actuarial gain (loss) arising during year	2.1	(54.8)	45.2
Amortization of prior service cost included in net periodic pension cost	0.4	0.6	0.6
Amortization of net actuarial losses included in net periodic pension cost	6.3	7.3	10.7
Derivative adjustments:
Net changes in fair value of derivatives	(4.6)	(1.4)	(1.4)
Net losses reclassified from accumulated other comprehensive loss into income	2.7	1.5	0.5
Foreign currency translation adjustments	(558.2)	(349.3)	(87.2)
Other comprehensive loss, net of reclassification adjustments	(555.8)	(396.1)	(31.6)
Comprehensive (loss) income	(291.8)	8.1	560.7
Comprehensive loss attributable to noncontrolling interests	4.5	6.5	5.2
Comprehensive (loss) income attributable to AGCO Corporation and subsidiaries	$ (287.3)	$ 14.6	$ 565.9

Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Current Assets:
Cash and cash equivalents	$ 426.7	$ 363.7
Accounts and notes receivable, net	836.8	963.8
Inventories, net	1,423.4	1,750.7
Other current assets	211.4	232.5
Total current assets	2,898.3	3,310.7
Property, plant and equipment, net	1,347.1	1,530.4
Investment in affiliates	392.9	424.1
Deferred tax assets	100.7	215.9
Other assets	140.1	141.1
Intangible assets, net	507.7	553.8
Goodwill	1,114.5	1,192.8
Total assets	6,501.3	7,368.8
Current Liabilities:
Current portion of long-term debt	89.0	94.3
Senior term loan	217.2	0.0
Accounts payable	625.6	670.2
Accrued expenses	1,106.9	1,244.1
Other current liabilities	146.7	208.3
Total current liabilities	2,185.4	2,216.9
Long-term debt, less current portion	928.8	997.6
Pensions and postretirement health care benefits	233.9	269.0
Deferred tax liabilities	86.4	211.7
Other noncurrent liabilities	183.5	176.7
Total liabilities	$ 3,618.0	$ 3,871.9
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 2015 and 2014	$ 0.0	$ 0.0
Common stock; $0.01 par value, 150,000,000 shares authorized, 83,814,809 and 89,146,093 shares issued and outstanding at December 31, 2015 and 2014, respectively	0.8	0.9
Additional paid-in capital	301.7	582.5
Retained earnings	3,996.0	3,771.6
Accumulated other comprehensive loss	(1,460.2)	(906.5)
Total AGCO Corporation stockholders’ equity	2,838.3	3,448.5
Noncontrolling interests	45.0	48.4
Total stockholders’ equity	2,883.3	3,496.9
Total liabilities and stockholders’ equity	$ 6,501.3	$ 7,368.8

Consolidated Balance Sheets Parenthetical - $ / shares	Dec. 31, 2015	Dec. 31, 2014
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	83,814,809	89,146,093
Common stock, shares outstanding	83,814,809	89,146,093
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 Net Gains (Losses) on Derivatives	Noncontrolling Interests	Temporary Equity
Beginning Balance Shares at Dec. 31, 2012		96,815,998
Stockholders' Equity Attributable to Parent, Beginning of Period at Dec. 31, 2012		$ 1.0	$ 1,082.9	$ 2,843.7	$ (479.4)	$ (262.9)	$ (217.2)	$ 0.7
Noncontrolling interests, Beginning of Period at Dec. 31, 2012									$ 33.3
Beginning Balance at Dec. 31, 2012	$ 3,481.5
Temporary equity, Beginning of Period at Dec. 31, 2012										$ 16.5
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss) attributable to parent	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
Conversion of 1 1/4% convertible senior subordinated notes, 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		(19,510)
Purchases and retirement of common stock	(1.0)		(1.0)
Prior service cost arising during year	0.0
Net loss recognized due to settlement	0.0
Net gain recognized due to curtailment	0.0
Net actuarial gain (loss) 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/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		$ 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
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 (loss) attributable to parent	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)
Conversion of 1 1/4% convertible senior subordinated notes, shares issued		1,437,465
Distribution to noncontrolling interest	(2.4)								(2.4)
Investment by noncontrolling interest	16.1								16.1
Changes in noncontrolling interest	(11.8)		(11.8)							6.6
Purchases and retirement of common stock, shares		(10,066,322)
Purchases and retirement of common stock	(499.7)	$ (0.1)	(499.6)
Prior service cost arising during year	0.0
Net loss recognized due to settlement	0.4				0.4	0.4
Net gain recognized due to curtailment	(0.4)				(0.4)	(0.4)
Net actuarial gain (loss) 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
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
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss) attributable to parent	266.4			266.4
Net Income (Loss) Attributable to Nonredeemable Noncontrolling Interest									(2.4)
Net income (loss)	264.0
Payment of dividends to shareholders	(42.0)			(42.0)
Issuance of restricted stock, shares		15,711
Issuance of restricted stock	0.8		0.8
Issuance of performance award stock, shares		172,759
Issuance of performance award stock	(5.6)		(5.6)
SSARs exercised, shares		22,176
SSARs exercised	(0.7)		(0.7)
Stock compensation	11.4		11.4
Excess tax benefit of stock awards	0.7		0.7
Change in noncontrolling interest	1.1								1.1
Purchases and retirement of common stock, shares		(5,541,930)
Purchases and retirement of common stock	(287.5)	$ (0.1)	(287.4)
Prior service cost arising during year	(4.7)				(4.7)	(4.7)
Net loss recognized due to settlement	0.2				0.2	0.2
Net gain recognized due to curtailment	0.0
Net actuarial gain (loss) arising during year	2.1				2.1	2.1
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	6.3				6.3	6.3
Deferred gains and losses on derivatives, net	(1.9)				(1.9)			(1.9)
Change in cumulative translation adjustment					(556.1)		(556.1)
Change in cumulative translation adjustment, Attributable to Noncontrolling Interest									(2.1)
Change in cumulative translation adjustment	(558.2)
Foreign currency translation adjustments	(558.2)								(2.1)
Ending Balance Shares at Dec. 31, 2015		83,814,809
Stockholders' Equity Attributable to Parent, End of Period at Dec. 31, 2015	2,838.3	$ 0.8	$ 301.7	$ 3,996.0	$ (1,460.2)	$ (249.0)	$ (1,209.2)	$ (2.0)
Noncontrolling interests, End of Period at Dec. 31, 2015	45.0								$ 45.0
Ending Balance at Dec. 31, 2015	$ 2,883.3
Temporary equity, End of Period at Dec. 31, 2015										$ 0.0

Consolidated Statements of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Cash flows from operating activities:
Net income	$ 264.0	$ 404.2	$ 592.3
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	217.4	239.4	211.6
Deferred debt issuance cost amortization	2.0	2.7	3.5
Amortization of intangibles	42.7	41.0	47.8
Amortization of debt discount	0.0	0.0	9.2
Stock compensation expense (credit)	12.2	(10.8)	34.6
Equity in net earnings of affiliates, net of cash received	(19.0)	(25.4)	(19.0)
Deferred income tax (benefit) provision	(26.8)	3.6	21.7
Other	(0.1)	2.5	0.3
Changes in operating assets and liabilities, net of effects from purchase of businesses:
Accounts and notes receivable, net	3.8	(103.9)	(36.2)
Inventories, net	117.6	111.4	(356.9)
Other current and noncurrent assets	(49.3)	29.1	7.0
Accounts payable	37.3	(219.4)	54.7
Accrued expenses	(34.8)	(71.2)	123.4
Other current and noncurrent liabilities	(42.8)	35.2	103.0
Total adjustments	260.2	34.2	204.7
Net cash provided by operating activities	524.2	438.4	797.0
Cash flows from investing activities:
Purchases of property, plant and equipment	(211.4)	(301.5)	(391.8)
Proceeds from sale of property, plant and equipment	1.5	2.8	2.6
Purchase of businesses, net of cash acquired	(25.4)	(130.3)	(9.5)
Investments in unconsolidated affiliates	(3.8)	(3.9)	(10.0)
Restricted cash and other	(1.7)	0.0	0.0
Net cash used in investing activities	(240.8)	(432.9)	(408.7)
Cash flows from financing activities:
Proceeds from debt obligations	1,951.9	1,689.4	1,135.9
Repayments of debt obligations	(1,769.5)	(1,588.8)	(1,194.0)
Purchases and retirement of common stock	(287.5)	(499.7)	(1.0)
Repurchase or conversion of convertible senior subordinated notes	0.0	(201.2)	0.0
Payment of dividends to stockholders	(42.0)	(40.8)	(38.9)
Payment of minimum tax withholdings on stock compensation	(6.3)	(13.2)	(17.0)
Payment of debt issuance costs	(0.7)	(1.4)	(0.1)
Excess tax benefit related to stock compensation	0.7	0.0	11.4
Purchase of or distribution to noncontrolling interests	0.0	(6.1)	(3.1)
Other	0.0	(0.2)	0.0
Net cash used in financing activities	(153.4)	(662.0)	(106.8)
Effects of exchange rate changes on cash and cash equivalents	(67.0)	(27.0)	(15.6)
Increase (decrease) in cash and cash equivalents	63.0	(683.5)	265.9
Cash and cash equivalents, beginning of year	363.7	1,047.2	781.3
Cash and cash equivalents, end of year	$ 426.7	$ 363.7	$ 1,047.2

Operations and Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2015

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 3,000 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 in which 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 potentially could be significant to the VIE. The Company also consolidates all entities that are not considered VIEs if it is determined that the Company 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 interest 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, uncertain tax positions, 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 in which the Company is responsible for construction or installation and which 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, amounts due from sales to dealers are immediately due upon a retail sale of the underlying 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. Some specified programs in the United States and Canada may allow for interest-free periods and due dates of up to 24 months for certain products. 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, 2015 and 2014 of $344.6 million and $215.3 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, 2015 and 2014 of $82.1 million and $148.4 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. In limited circumstances, the Company provides sales terms, and in some cases, interest-free periods that are longer than 12 months for certain products. These are typically specified programs, predominantly in the United States and Canada, in which interest is charged after a period of up to 24 months depending on the year of the sale and the dealer or distributor’s ordering or 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, 2015	North America		South America		Europe/Africa/ Middle East		Asia/Pacific		Consolidated
0 to 6 months	$	1,536.5	$	949.0	$	4,132.2	$	402.0	$	7,019.7	94.0	%
7 to 12 months	380.1		—		19.1		—		399.2		5.3	%
13 to 24 months	48.4		—		—		—		48.4		0.7	%
	$	1,965.0	$	949.0	$	4,151.3	$	402.0	$	7,467.3	100.0	%

The Company has an agreement to permit transferring, on an ongoing basis a majority all of its wholesale interest-bearing and non-interest bearing accounts receivable in North America and Europe to its U.S., Canadian and European finance joint ventures. During 2015, the Company entered into an agreement to permit transferring, on an ongoing basis, a portion of its accounts receivable in Brazil to its Brazilian finance joint venture. Qualified dealers may obtain additional financing through the Company’s U.S., Canadian, European and Brazilian 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, 2015 and 2014 were as follows (in millions):



	2015		2014
Sales incentive discounts	$	24.5	$	18.5
Doubtful accounts	29.3		32.1
	$	53.8	$	50.6

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, 2015 and 2014 were approximately $229.5 million and $236.5 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, 2015 and 2014, the Company had recorded $134.6 million and $126.5 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, 2015 and 2014 were as follows (in millions):



	2015		2014
Finished goods	$	523.1	$	616.6
Repair and replacement parts	515.4		536.4
Work in process	97.5		130.5
Raw materials	287.4		467.2
Inventories, net	$	1,423.4	$	1,750.7

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, 2015 and 2014 consisted of the following (in millions):



	2015			2014
Land	$	105.7		$	113.6
Buildings and improvements	637.4			688.4
Machinery and equipment	1,966.8			2,039.9
Furniture and fixtures	120.0			127.6
Gross property, plant and equipment	2,829.9			2,969.5
Accumulated depreciation and amortization	(1,482.8		)	(1,439.1		)
Property, plant and equipment, net	$	1,347.1		$	1,530.4

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 exceed 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 include 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, 2015, 2014 and 2013 indicated that no reduction in the carrying amount of the Company’s 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 Chinese harvesting business operates within the Asia/Pacific geographical reportable segment. 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, 2015, 2014 and 2013 are summarized as follows (in millions):



	North America		South America			Europe/Africa/ Middle East			Asia/Pacific			Consolidated
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
Acquisition	5.1		—			9.3			7.8			22.2
Foreign currency translation	—		(55.3		)	(38.7		)	(6.5		)	(100.5		)
Balance as of December 31, 2015	$	518.7	$	114.4		$	425.2		$	56.2		$	1,114.5

During 2013, the Company reduced goodwill for financial reporting purposes by approximately $8.0 million 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	13	years
Customer relationships	14	years
Trademarks and trade names	20	years
Land use rights	45	years

For the years ended December 31, 2015, 2014 and 2013, acquired intangible asset amortization was $42.7 million, $41.0 million and $47.8 million, respectively. The Company estimates amortization of existing intangible assets will be $42.1 million for 2016, $41.9 million for 2017, $41.9 million for 2018, $41.9 million for 2019, and $41.3 million for 2020.

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 2015 and 2014 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, 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
Acquisition	1.9			4.1			3.6			—			9.6
Foreign currency translation	(3.2		)	(25.6		)	(5.1		)	(0.6		)	(34.5		)
Balance as of December 31, 2015	$	122.2		$	492.3		$	92.5		$	9.1		$	716.1



	Trademarks and Trade Names			Customer Relationships			Patents and Technology			Land Use Rights			Total
Accumulated amortization:
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
Amortization expense	6.6			32.0			3.9			0.2			42.7
Foreign currency translation	(1.1		)	(19.0		)	(4.9		)	(0.2		)	(25.2		)
Balance as of December 31, 2015	$	41.9		$	193.8		$	55.1		$	2.9		$	293.7



	Trademarks and Trade Names
Indefinite-lived intangible assets:
Balance as of December 31, 2013	$	93.7
Foreign currency translation	(4.7		)
Balance as of December 31, 2014	89.0
Foreign currency translation	(3.7		)
Balance as of December 31, 2015	$	85.3

Accrued Expenses

Accrued expenses at December 31, 2015 and 2014 consisted of the following (in millions):



	2015		2014
Reserve for volume discounts and sales incentives	$	443.3	$	465.2
Warranty reserves	195.2		245.7
Accrued employee compensation and benefits	213.7		232.8
Accrued taxes	87.3		108.4
Other	167.4		192.0
	$	1,106.9	$	1,244.1

Warranty Reserves

The warranty reserve activity for the years ended December 31, 2015, 2014 and 2013 consisted of the following (in millions):



	2015			2014			2013
Balance at beginning of the year	$	284.6		$	294.9		$	256.9
Acquisitions	0.2			0.5			—
Accruals for warranties issued during the year	152.6			214.1			200.3
Settlements made (in cash or in kind) during the year	(186.2		)	(205.5		)	(165.7		)
Foreign currency translation	(20.9		)	(19.4		)	3.4
Balance at the end of the year	$	230.3		$	284.6		$	294.9

The Company’s agricultural equipment products generally are 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 $35.1 million and $38.9 million of warranty reserves are included in “Other noncurrent liabilities” in the Company’s Consolidated Balance Sheets as of December 31, 2015 and 2014, 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 primarily related to workers’ compensation and comprehensive general liability, 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 2015, 2014 and 2013:



	Years Ended December 31,
	2015		2014			2013
Cost of goods sold	$	0.9	$	(0.9	)	$	2.3
Selling, general and administrative expenses	11.6		(9.7		)	32.6
Total stock compensation expense (credit)	$	12.5	$	(10.6	)	$	34.9

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, 2015, 2014 and 2013 totaled approximately $50.9 million, $59.8 million and $60.5 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 $26.6 million, $29.2 million and $29.3 million for the years ended December 31, 2015, 2014 and 2013, respectively.

Interest Expense, Net

Interest expense, net for the years ended December 31, 2015, 2014 and 2013 consisted of the following (in millions):



	2015			2014			2013
Interest expense	$	64.1		$	71.9		$	78.8
Interest income	(18.7		)	(13.5		)	(20.8		)
	$	45.4		$	58.4		$	58.0

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-settled stock appreciation rights (“SSARs”) and the vesting of performance share awards and restricted stock units using the treasury stock method when the effects of such assumptions are dilutive.

During 2014 and 2013, the appreciation of the excess conversion value of the Company’s former 1¹/4% contingently convertible senior subordinated notes was included in the diluted net income per common share using the treasury stock method when the impact of such assumption was dilutive. 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, 2015, 2014 and 2013 is as follows (in millions, except per share data):



	2015		2014		2013
Basic net income per share:
Net income attributable to AGCO Corporation and subsidiaries	$	266.4	$	410.4	$	597.2
Weighted average number of common shares outstanding	87.0		93.4		97.3
Basic net income per share attributable to AGCO Corporation and subsidiaries	$	3.06	$	4.39	$	6.14
Diluted net income per share:
Net income attributable to AGCO Corporation and subsidiaries	$	266.4	$	410.4	$	597.2
Weighted average number of common shares outstanding	87.0		93.4		97.3
Dilutive SSARs, performance share awards and restricted stock units	0.1		0.3		0.8
Weighted average assumed conversion of contingently convertible senior subordinated notes	—		0.5		1.3
Weighted average number of common shares and common share equivalents outstanding for purposes of computing diluted net income per share	87.1		94.2		99.4
Diluted net income per share attributable to AGCO Corporation and subsidiaries	$	3.06	$	4.36	$	6.01

SSARs to purchase 1.2 million shares, 1.0 million shares and 0.8 million shares were outstanding for the years ended December 31, 2015, 2014 and 2013, 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, 2015, 2014 and 2013 are as follows (in millions):



	AGCO Corporation and Subsidiaries									Noncontrolling Interests
	2015									2015
	Before-tax Amount			Income Taxes			After-tax Amount			After-tax Amount
Defined benefit pension plans	$	4.9		$	(0.6	)	$	4.3		$	—
Net loss on derivatives	(3.1		)	1.2			(1.9		)	—
Foreign currency translation adjustments	(556.1		)	—			(556.1		)	(2.1		)
Total components of other comprehensive loss	$	(554.3	)	$	0.6		$	(553.7	)	$	(2.1	)



	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	)

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 interest expense is, in part, sensitive to the general level of interest rates, and the Company manages its exposure to interest rate risk through the mix of floating rate and fixed rate debt. From time to time, the Company enters into interest rate swap agreements in order to manage the Company’s exposure to interest rate fluctuations.

The Company uses non-derivative and, periodically, derivative instruments to hedge a portion of the Company’s net investment in foreign operations against adverse movements in exchange rates.

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 November 2015, the Financial Accounting Standards Board (“FASB”) issued ASU 2015-17, “Balance Sheet Classification of Deferred Taxes” (“ASU 2015-17”). ASU 2015-17 amends existing guidance to require that deferred tax liabilities and assets be classified as noncurrent in a classified statement of financial position. The standard does not amend the existing requirement that deferred tax liabilities and assets of a tax-paying component of an entity be offset and presented as a single amount. ASU 2015-17 is effective for annual periods beginning after December 15, 2016, and interim periods within those annual periods. The standard may be applied either prospectively to all deferred tax liabilities and assets or retrospectively to all periods presented. Early adoption is permitted as of the beginning of an interim or annual reporting period. The Company elected to early adopt this standard and has applied the requirements of ASU 2015-17 retrospectively to all periods presented. In the Consolidated Balance Sheet as of December 31, 2014, the Company reclassified approximately $217.2 million as a decrease to current deferred tax assets, thereby increasing noncurrent deferred tax assets by approximately $190.1 million and decreasing noncurrent deferred tax liabilities by approximately $27.1 million.

In September 2015, the FASB issued ASU 2015-16, “Simplifying the Accounting for Measurement-Period Adjustments” (“ASU 2015-16”). ASU 2015-16 amends existing guidance to require that an acquirer in a business combination recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined. In addition, an entity is required to present separately on the face of the income statement or disclose in the notes the portion of the amount recorded in earnings by line item that would have been recorded in previous reporting periods if the adjustments to the provisional amounts had been recognized as of the acquisition date. Prior period information is no longer to be revised. The standard is effective prospectively for adjustments to provisional amounts that occur after fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. Early adoption is permitted. The Company expects that the adoption of ASU 2015-16 on January 1, 2016 will not have a material impact on its results of operations and financial condition.

In July 2015, the FASB issued ASU 2015-11, “Simplifying the Measurement of Inventory” (“ASU 2015-11”), which changes the measurement principle for inventory from the “lower of cost or market” to “lower of cost and net realizable value.” The new principle is part of the FASB’s simplification initiative and applies to entities that measure inventory using a method other than the last-in, first-out (“LIFO”) or the retail inventory methods. Entities using the first-in, first-out (“FIFO”) or average cost methods of measuring inventory no longer will need to consider replacement cost or net realizable value less an approximate normal profit margin in the subsequent measurement of inventory. Net realizable value is defined as the estimated selling price in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation. The standard does not amend or change the determination of the cost of inventory. The standard is effective prospectively for inventory measurements for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2016. Early adoption is permitted. The Company expects that the adoption of ASU 2015-11 on January 1, 2017 will not have a material impact on its results of operations and financial condition.

In April 2015, the FASB issued ASU 2015-03, “Simplifying the Presentation of Debt Issuance Costs” (“ASU 2015-03”). ASU 2015-03 amends existing guidance to require the presentation of debt issuance costs in the balance sheet as a direct deduction from the carrying amount of the related debt liability instead of a deferred charge. Given the absence of authoritative guidance within ASU 2015-03, in August 2015 the FASB issued ASU 2015-15, “Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements” (“ASU 2015-15”), which clarifies that the SEC staff would not object to an entity deferring and presenting debt issuance costs as an asset and subsequently amortizing the deferred debt issuance costs ratably over the term of the line-of-credit arrangement, regardless of whether there are any outstanding borrowings on the line-of-credit arrangement. ASU 2015-03 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. Early adoption is permitted. The Company expects that the adoption of ASU 2015-03 on January 1, 2016 will not have a material impact on its results of operations and financial condition.

In May 2014, the 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. ASU 2014-09 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. On July 9, 2015, the FASB delayed the effective date of ASU 2014-09 by one year or to reporting periods beginning after December 15, 2017. Early adoption is permitted, but not any earlier than the original effective date. The Company is currently evaluating the impact of adopting this standard on the Company’s results of operations and financial condition.

Acquisitions

12 Months Ended

Dec. 31, 2015

Business Combinations [Abstract]

Acquisitions

On April 17, 2015, the Company acquired Farmer Automatic GmbH & Co. KG (“Farmer Automatic”) for approximately $17.9 million, net of cash acquired of approximately $0.1 million. Farmer Automatic, headquartered in Laer, Germany, manufactures and supplies poultry housing and related products, including egg production cages and broiler production equipment. The acquisition was financed with available cash on hand. 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 $9.6 million of customer relationship, technology and trademark identifiable intangible assets and approximately $10.0 million of goodwill associated with the acquisition. The results of operations of Farmer Automatic have been included in the Company’s Consolidated Financial Statements as of and from the date of the acquisition.

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



Intangible Asset	Amount		Weighted-Average Useful Life
Customer relationships	$	4.1	10	years
Technology	3.6		10	years
Trademarks	1.9		10	years
	$	9.6

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 sugarcane 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

- Definition

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).

+ References

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+ Details

Restructuring and Other Infrequent Expenses	12 Months Ended
Restructuring and Other Infrequent Expenses	Dec. 31, 2015
Restructuring and Related Activities [Abstract]
Restructuring and Other Infrequent Expenses	Restructuring and Other Infrequent Expenses During 2015 and 2014, the Company announced and initiated several actions to rationalize employee headcount at various manufacturing facilities located in Europe, China, Brazil, Argentina and the United States, as well as various administrative offices located in Europe, Brazil, China and the United States. The aggregate headcount reduction of approximately 2,100 employees in 2014 and 2015 was initiated in order to reduce costs in response to softening global market demand and reduced production volumes. The Company recorded approximately $46.4 million of restructuring and other infrequent expenses during 2014 associated with these rationalizations, of which approximately $44.4 million related to severance and other related costs. During 2014, the Company paid approximately $19.0 million of these costs, and as of December 31, 2014, had a remaining accrued balance of approximately $25.4 million. During 2015, the Company recorded and paid approximately $22.3 million and $29.5 million, respectively, of restructuring and other infrequent expenses associated with severance and other related costs. The remaining $16.9 million balance of severance and other related costs accrued as of December 31, 2015, inclusive of approximately $1.3 million of negative foreign currency translation impacts, are expected be paid primarily during 2016.

Accounts Receivable Sales Agreements	12 Months Ended
Accounts Receivable Sales Agreements	Dec. 31, 2015
Accounts Receivable Sales Agreements [Abstract]
Accounts Receivable Sales Agreements	Accounts Receivable Sales Agreements At December 31, 2015 and 2014, 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. During 2015, the Company entered into an accounts receivable sales agreement that permits the sale, on an ongoing basis, of a portion of its wholesale receivables in Brazil to its Brazilian finance joint venture. As of December 31, 2015 and 2014, the cash received from receivables sold under the U.S., Canadian, European and Brazilian accounts receivable sales agreements was approximately $1.1 billion and $1.2 billion, respectively. Under the terms of the accounts receivable sales agreements in North America, Europe and Brazil, the Company pays an annual servicing fee related to the servicing of the receivables sold. The Company also pays the respective AGCO Finance entities an interest payment 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” in the Company’s Consolidated Statements of Operations, were approximately $18.8 million, $24.8 million and $25.6 million during 2015, 2014 and 2013, respectively. The Company’s finance joint ventures in Brazil and Australia also provide wholesale financing directly 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, 2015 and 2014, these finance joint ventures had approximately $17.7 million and $43.3 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, 2015

Investments in and Advances to Affiliates, Schedule of Investments [Abstract]

Investments in Affiliates

Investments in affiliates as of December 31, 2015 and 2014 were as follows (in millions):



	2015		2014
Finance joint ventures	$	359.4	$	389.0
Manufacturing joint ventures	18.1		19.6
Other affiliates	15.4		15.5
	$	392.9	$	424.1

The Company’s manufacturing joint ventures as of December 31, 2015 consisted of Groupement International De Mecanique Agricole SA (“GIMA”) (a joint venture with a third-party manufacturer to purchase, design and manufacture components for agricultural equipment in France), 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, 2015, 2014 and 2013 were as follows (in millions):



	2015		2014		2013
Finance joint ventures	$	53.8	$	48.8	$	48.8
Manufacturing and other joint ventures	3.3		4.1		(0.6		)
	$	57.1	$	52.9	$	48.2

Summarized combined financial information of the Company’s finance joint ventures as of December 31, 2015 and 2014 and for the years ended December 31, 2015, 2014 and 2013 were as follows (in millions):



	December 31,
	2015		2014
Total assets	$	7,491.2	$	8,836.4
Total liabilities	6,757.8		8,042.9
Partners’ equity	733.4		793.5



	For the Years Ended December 31,
	2015		2014		2013
Revenues	$	313.0	$	383.4	$	389.2
Costs	158.1		234.7		239.4
Income before income taxes	$	154.9	$	148.7	$	149.8

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 (Note 14).

At December 31, 2015 and 2014, the Company’s receivables from affiliates were approximately $70.1 million and $108.4 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 $296.8 million and $293.3 million as of December 31, 2015 and 2014, respectively.

Income Taxes

12 Months Ended

Dec. 31, 2015

Income Tax Disclosure [Abstract]

Income Taxes

The sources of income (loss) before income taxes and equity in net earnings of affiliates were as follows for the years ended December 31, 2015, 2014 and 2013 (in millions):



	2015			2014		2013
United States	$	(49.1	)	$	63.5	$	133.1
Foreign	328.5			475.5		669.5
Income before income taxes and equity in net earnings of affiliates	$	279.4		$	539.0	$	802.6

The provision for income taxes by location of the taxing jurisdiction for the years ended December 31, 2015, 2014 and 2013 consisted of the following (in millions):



	2015			2014			2013
Current:
United States:
Federal	$	(1.3	)	$	12.6		$	9.2
State	2.8			2.8			9.9
Foreign	97.8			168.7			217.7
	99.3			184.1			236.8
Deferred:
United States:
Federal	(19.0		)	(0.4		)	30.2
State	—			—			—
Foreign	(7.8		)	4.0			(8.5		)
	(26.8		)	3.6			21.7
	$	72.5		$	187.7		$	258.5

At December 31, 2015, the Company’s foreign subsidiaries had approximately $2.3 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, 2015, 2014 and 2013 is as follows (in millions):



	2015			2014			2013
Provision for income taxes at United States federal statutory rate of 35%	$	97.8		$	188.7		$	280.9
State and local income taxes, net of federal income tax effects	(2.0		)	2.6			5.6
Taxes on foreign income which differ from the United States statutory rate	(34.9		)	(33.4		)	(34.7		)
Tax effect of permanent differences	7.1			(10.3		)	(7.6		)
Change in valuation allowance	(4.5		)	22.8			9.3
Change in tax contingency reserves	15.4			25.2			25.7
Research and development tax credits	(4.9		)	(7.1		)	(19.9		)
Other	(1.5		)	(0.8		)	(0.8		)
	$	72.5		$	187.7		$	258.5

The significant components of the deferred tax assets and liabilities at December 31, 2015 and 2014 were as follows (in millions):



	2015			2014
Deferred Tax Assets:
Net operating loss carryforwards	$	74.0		$	75.7
Sales incentive discounts	86.6			85.5
Inventory valuation reserves	40.3			33.9
Pensions and postretirement health care benefits	63.4			76.7
Warranty and other reserves	82.3			104.8
Research and development tax credits	9.3			—
Other	34.1			53.4
Total gross deferred tax assets	390.0			430.0
Valuation allowance	(75.8		)	(93.3		)
Total net deferred tax assets	314.2			336.7
Deferred Tax Liabilities:
Tax over book depreciation and amortization	275.1			311.0
Other	24.8			21.5
Total deferred tax liabilities	299.9			332.5
Net deferred tax assets	$	14.3		$	4.2
Amounts recognized in Consolidated Balance Sheets:
Deferred tax assets - noncurrent	$	100.7		$	215.9
Deferred tax liabilities - noncurrent	(86.4		)	(211.7		)
	$	14.3		$	4.2

The Company recorded a net deferred tax asset of $14.3 million and $4.2 million as of December 31, 2015 and 2014, respectively. As reflected in the preceding table, the Company had a valuation allowance of $75.8 million and $93.3 million as of December 31, 2015 and 2014, 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, 2015 and 2014 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 $266.1 million as of December 31, 2015, with expiration dates as follows: 2016 - $13.0 million; 2017 - $30.7 million; 2018 - $39.8 million; and thereafter or unlimited - $182.6 million. The net operating loss carryforwards of $266.1 million were entirely in tax jurisdictions outside of the United States.

The Company paid income taxes of $97.6 million, $223.6 million and $174.5 million for the years ended December 31, 2015, 2014 and 2013, respectively.

At December 31, 2015 and 2014, the Company had $133.0 million and $130.6 million, respectively, of unrecognized income tax benefits, all of which would affect the Company’s effective tax rate if recognized. At December 31, 2015 and 2014, the Company had approximately $61.2 million and $64.7 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 $5.1 million and $2.3 million of interest and penalties related to unrecognized tax benefits in its provision for income taxes during 2015 and 2014, respectively. At December 31, 2015 and 2014, the Company had accrued interest and penalties related to unrecognized tax benefits of $18.3 million and $15.3 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, 2015 and 2014 is as follows (in millions):



	2015			2014
Gross unrecognized income tax benefits	$	130.6		$	122.2
Additions for tax positions of the current year	14.4			21.8
Additions for tax positions of prior years	7.1			11.0
Additions for tax positions related to acquisitions	—			(0.6		)
Reductions for tax positions of prior years for:
Changes in judgments	(0.3		)	(2.2		)
Settlements during the period	—			(1.9		)
Lapses of applicable statute of limitations	(5.8		)	(5.4		)
Foreign currency translation	(13.0		)	(14.3		)
Gross unrecognized income tax benefits	$	133.0		$	130.6

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, 2015, 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 2012 through 2015 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 2010 through 2015 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, 2015

Debt Disclosure [Abstract]

Indebtedness

Indebtedness consisted of the following at December 31, 2015 and 2014 (in millions):



	December 31, 2015			December 31, 2014
4½% Senior term loan due 2016	$	217.2		$	242.0
Credit facility, expires 2020	338.9			404.4
1.056% Senior term loan due 2020	217.2			—
5⁷/8% Senior notes due 2021	297.4			300.0
Other long-term debt	164.3			145.5
	1,235.0			1,091.9
Less: 4½% Senior term loan due 2016	(217.2		)	—
Current portion of other long-term debt	(89.0		)	(94.3		)
Total indebtedness, less current portion	$	928.8		$	997.6

At December 31, 2015, the aggregate scheduled maturities of long-term debt, excluding the current portion of long-term debt, are as follows (in millions):



2017	$	33.2
2018	20.0
2019	7.6
2020	570.6
Thereafter	297.4
	$	928.8

Cash payments for interest were approximately $63.0 million, $68.4 million and $66.4 million for the years ended December 31, 2015, 2014 and 2013, respectively.

4 ¹/2% Senior Term Loan

The Company’s €200.0 million (or approximately $217.2 million as of December 31, 2015) 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.

Credit Facility

The Company’s revolving credit and term loan facility consists of an $800.0 million multi-currency revolving credit facility and a €312.0 million (or approximately $338.9 million as of December 31, 2015) term loan facility. The Company is not required to make quarterly payments towards the term loan facility. On June 19, 2015, the Company amended its current credit facility agreement, providing the Company with the ability to replace the current term loan facility denominated in United States dollars with an equivalent amount denominated in Euros. In August 2015, the Company replaced the outstanding term loan facility in the amount of $355.0 million, denominated in U.S. dollars, with an equivalent amount denominated in Euros. The Company also extended the maturity date of the credit facility from June 28, 2019 to June 26, 2020 and amended the interest rate margin. Under the amended credit facility agreement, interest accrues on amounts outstanding, at the Company’s option, depending on the currency borrowed, at either (1) LIBOR or EURIBOR plus a margin ranging from 1.0% to 1.75% 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 U.S. dollars plus 1.0% plus a margin ranging from 0.0% to 0.25% based on the Company’s leverage ratio. Previously, the interest accrued 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 U.S. dollars plus 1.0% plus a margin ranging from 0.0% to 0.5% based on the Company’s leverage ratio. As is more fully described in Note 11, the Company entered into an interest rate swap in August 2015 to convert the term loan facility’s floating interest rate to a fixed interest rate of 0.33% plus the applicable margin over the remaining life of the term loan facility. 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, 2015, no amounts were outstanding under the Company’s multi-currency revolving credit facility, and the Company had the ability to borrow approximately $800.0 million under the facility. Approximately €312.0 million (or approximately $338.9 million) was outstanding under the term loan facility as of December 31, 2015. As of December 31, 2014, the Company had $404.4 million of outstanding borrowings under its former credit facility and availability to borrow approximately $750.6 million. Approximately $49.4 million was outstanding under the multi-currency revolving credit facility and $355.0 million was outstanding under the term loan facility as of December 31, 2014.

During 2015, the Company designated its €312.0 million ($338.9 million at December 31, 2015) term loan facility as a hedge of its net investment in foreign operations to offset foreign currency translation gains or losses on the net investment. See Note 11 for additional information about the net investment hedge.

1.056% Senior Term Loan

In December 2014, the Company entered into a term loan with the European Investment Bank, which provided the Company with the ability to borrow up to €200.0 million. The €200.0 million (or approximately $217.2 million as of December 31, 2015) 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 regarding, among other things, the incurrence of indebtedness and the making of certain payments, as well as commitments regarding amounts of future research and development expenses in Europe, 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.

5 ⁷/8% Senior Notes

The Company’s $297.4 million of 5⁷/8% senior notes due December 1, 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. As is more fully described in Note 11, the Company entered into an interest rate swap in August 2015 to convert the senior notes’ fixed interest rate to a floating interest rate over the remaining life of the senior notes. A weighted average interest rate of 4.53% was applicable from the date of inception of the interest rate swap to December 31, 2015.

Former Convertible Senior Subordinated 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.

The following table sets forth the interest expense recognized for the year ended December 31, 2014 relating to the notes’ contractual interest coupon and the interest expense recognized for the year ended December 31, 2013 relating to both the notes’ contractual interest coupon as well as 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
1¼% Convertible senior subordinated notes:
Interest expense	$	0.9	$	11.7

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, 2015 and 2014, outstanding letters of credit totaled $17.5 million and $18.5 million, respectively.

Employee Benefit Plans

12 Months Ended

Dec. 31, 2015

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 certain 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). 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.

In 2015, the Company amended its ENPP to (a) limit participation to only those individuals who were participants in the ENPP as of July 31, 2015, (b) add an additional benefit, commencing at the end of the current 15-year benefit period, providing each participant a lifetime annuity in an amount equal to the annual payment during that 15-year period (or an equivalent value if a joint and survivor annuity is selected by the participant), and (c) to make various other administrative changes. The new benefit generally will be available only to participants who retire on or after reaching normal retirement age and otherwise have a vested benefit under the ENPP.

Net annual pension costs for the years ended December 31, 2015, 2014 and 2013 for the Company’s defined benefit pension plans and ENPP are set forth below (in millions):



Pension benefits	2015			2014⁽¹⁾			2013
Service cost	$	18.7		$	16.8		$	18.0
Interest cost	31.2			37.3			35.4
Expected return on plan assets	(44.4		)	(44.5		)	(37.6		)
Amortization of net actuarial losses	8.0			9.5			14.0
Amortization of prior service cost	0.4			0.8			0.8
Net loss recognized due to settlement	0.2			0.4			0.1
Net gain recognized due to curtailment	—			(0.5		)	—
Special termination benefits	0.5			1.3			—
Net annual pension cost	$	14.6		$	21.0		$	30.7

____________________________________


(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, 2015, 2014 and 2013 are as follows:



	2015		2014		2013
All plans:
Weighted average discount rate	3.5	%	4.4	%	4.3	%
Weighted average expected long-term rate of return on plan assets	6.8	%	6.9	%	6.8	%
Rate of increase in future compensation	2.25%-5.0%		2.5-5.0%		2.5-5.0%
U.S.-based plans:
Weighted average discount rate	4.15	%	4.75	%	3.85	%
Weighted average expected long-term rate of return on plan assets⁽¹⁾	6.0	%	7.0	%	7.0	%
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, 2015, 2014 and 2013 are set forth below (in millions, except percentages):



Postretirement benefits	2015			2014			2013
Service cost	$	—		$	0.1		$	0.1
Interest cost	1.3			1.6			1.7
Amortization of prior service cost	0.2			0.2			0.2
Amortization of net actuarial losses	0.1			0.1			0.5
Other	—			0.2			—
Net annual postretirement benefit cost	$	1.6		$	2.2		$	2.5
Weighted average discount rate	4.6		%	5.3		%	4.7		%

The following tables set forth reconciliations of the changes in benefit obligation, plan assets and funded status as of December 31, 2015 and 2014 (in millions):



	Pension and ENPP Benefits						Postretirement Benefits
Change in benefit obligation	2015			2014			2015			2014
Benefit obligation at beginning of year	$	926.8		$	888.2		$	29.6		$	30.3
Service cost	18.7			16.8			—			0.1
Interest cost	31.2			37.3			1.3			1.6
Plan participants’ contributions	1.2			1.3			—			—
Actuarial (gains) losses	(41.7		)	109.6			(1.7		)	(0.7		)
Amendments	8.3			—			—			—
Settlements	(0.5		)	(4.2		)	—			—
Curtailments	—			(7.3		)	—			—
Benefits paid	(50.8		)	(55.9		)	(1.2		)	(1.6		)
Special termination benefits and other	0.5			1.3			—			0.2
Foreign currency exchange rate changes	(49.3		)	(60.3		)	(0.7		)	(0.3		)
Benefit obligation at end of year	$	844.4		$	926.8		$	27.3		$	29.6

	Pension and ENPP Benefits						Postretirement Benefits
	Pension and ENPP Benefits						Postretirement Benefits
Change in plan assets	2015			2014			2015			2014
Fair value of plan assets at beginning of year	$	677.2		$	660.7		$	—		$	—
Actual return on plan assets	5.2			73.7			—			—
Employer contributions	34.0			43.4			1.2			1.6
Plan participants’ contributions	1.2			1.3			—			—
Benefits paid	(50.8		)	(55.9		)	(1.2		)	(1.6		)
Settlements	(0.5		)	(4.2		)	—			—
Foreign currency exchange rate changes	(35.6		)	(41.8		)	—			—
Fair value of plan assets at end of year	$	630.7		$	677.2		$	—		$	—
Funded status	$	(213.7	)	$	(249.6	)	$	(27.3	)	$	(29.6	)
Unrecognized net actuarial losses	319.0			329.7			1.4			3.3
Unrecognized prior service cost	11.2			3.2			3.6			3.7
Accumulated other comprehensive loss	(330.2		)	(332.9		)	(5.0		)	(7.0		)
Net amount recognized	$	(213.7	)	$	(249.6	)	$	(27.3	)	$	(29.6	)



Amounts recognized in Consolidated Balance Sheets:
Other long-term asset	$	0.2		$	—		$	—		$	—
Other current liabilities	(3.5		)	(3.3		)	(1.5		)	(1.5		)
Accrued expenses	(2.3		)	(5.4		)	—			—
Pensions and postretirement health care benefits (noncurrent)	(208.1		)	(240.9		)	(25.8		)	(28.1		)
Net amount recognized	$	(213.7	)	$	(249.6	)	$	(27.3	)	$	(29.6	)

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, 2015 and 2014 (in millions):



	Before-Tax Amount			Income Tax			After-Tax Amount
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 losses	9.6			2.3			7.3
Accumulated other comprehensive loss as of December 31, 2014	$	(341.5	)	$	(88.2	)	$	(253.3	)
Prior service cost arising during the year	(8.3		)	(3.6		)	(4.7		)
Net loss recognized due to settlement	0.3			0.1			0.2
Net actuarial gain arising during the year	4.2			2.1			2.1
Amortization of prior service cost	0.6			0.2			0.4
Amortization of net actuarial losses	8.1			1.8			6.3
Accumulated other comprehensive loss as of December 31, 2015	$	(336.6	)	$	(87.6	)	$	(249.0	)

As of December 31, 2015, the Company’s accumulated other comprehensive loss included net actuarial losses of approximately $319.0 million and net prior service cost of approximately $11.2 million related to the Company’s defined benefit pension plans and ENPP. The estimated net actuarial losses 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, 2016 are approximately $10.7 million and $1.1 million, respectively.

As of December 31, 2015, the Company’s accumulated other comprehensive loss included net actuarial losses of approximately $1.4 million and net prior service cost of approximately $3.6 million related to the Company’s U.S. and Brazilian postretirement health care benefit plans. The estimated net actuarial losses 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, 2016 are less than $0.1 million and approximately $0.1 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 $869.2 million, $816.9 million and $627.9 million, respectively, as of December 31, 2015, and $956.4 million, $901.7 million and $677.2 million, respectively, as of December 31, 2014. 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 $112.2 million, $98.4 million and $38.1 million, respectively, as of December 31, 2015, and $102.9 million, $90.2 million and $41.5 million, respectively, as of December 31, 2014. The Company’s accumulated comprehensive loss as of December 31, 2015 reflects a reduction in equity of $335.2 million, net of taxes of $87.1 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, 2015 reflects a reduction in equity of approximately $1.4 million, net of taxes of $0.5 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 2015 of approximately $0.1 million. The Company’s accumulated comprehensive loss as of December 31, 2014 reflected 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, in which the projected benefit obligation exceeded the plan assets. In addition, the Company’s accumulated comprehensive loss as of December 31, 2014 reflected a reduction in equity of approximately $1.6 million, net of taxes of $0.6 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. In addition, GIMA recognized a net actuarial loss due to settlements during 2014 of approximately $0.2 million.

The weighted average assumptions used to determine the benefit obligation for the Company’s defined benefit pension plans and ENPP as of December 31, 2015 and 2014 are as follows:



	2015		2014
All plans:
Weighted average discount rate	3.6	%	3.5	%
Rate of increase in future compensation	2.0%-5.0%		2.5-5.0%
U.S.-based plans:
Weighted average discount rate	4.60	%	4.15	%
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, 2015 and 2014 was 5.1% and 4.6%, respectively.

For the years ended December 31, 2015, 2014 and 2013, 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, in which 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,” in which 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. Effective January 1, 2016, the Company adopted a spot yield curve to determine the discount rate in the United Kingdom to measure the plan’s service cost and interest cost for the year ended December 31, 2016. Previously, the Company had utilized a single weighted-average discount rate derived from the “yield curve approach” to measure the plan’s benefit obligation, service cost and interest cost. Going forward, the Company has elected to utilize an approach that discounts the individual expected service cost and interest cost cash flows using the applicable spot rates derived from the yield curve over the projected cash flow period.

For measuring the expected U.S. postretirement benefit obligation at December 31, 2015, the Company assumed a 7.25% health care cost trend rate for 2016 decreasing to 5.0% by 2025. For measuring the expected U.S. postretirement benefit obligation at December 31, 2014, the Company assumed a 7.0% health care cost trend rate for 2015 decreasing to 5.0% by 2019. For measuring the Brazilian postretirement benefit plan obligation at December 31, 2015, the Company assumed a 12.6% health care cost trend rate for 2016, decreasing to 6.75% by 2026. 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. Changing the assumed health care cost trend rates by one percentage point each year and holding all other assumptions constant would have had the following effect to service and interest cost for 2015 and the accumulated postretirement benefit obligation for both the U.S. and Brazilian postretirement plans at December 31, 2015 (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	$	3.2	$	(2.7	)

The Company currently estimates its minimum contributions and benefit payments to its U.S.-based underfunded defined benefit pension plans and unfunded ENPP for 2016 will aggregate approximately $1.1 million. The Company currently estimates its benefit payments for 2016 to its U.S.-based postretirement health care and life insurance benefit plans will aggregate approximately $1.5 million and its benefit payments for 2016 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 2016 to its non-U.S.-based defined benefit pension plans will aggregate approximately $31.5 million, of which approximately $23.1 million relates to its U.K. pension plan.

During 2015, approximately $51.3 million of benefit payments were made related to the Company’s defined benefit pension plans and ENPP. At December 31, 2015, the aggregate expected benefit payments for the Company’s defined benefit pension plans and ENPP are as follows (in millions):



2016	$	48.0
2017	49.5
2018	50.2
2019	50.4
2020	51.5
2021 through 2025	279.5
	$	529.1

During 2015, approximately $1.2 million of benefit payments were made related to the Company’s U.S. and Brazilian postretirement benefit plans. At December 31, 2015, the aggregate expected benefit payments for the Company’s U.S. and Brazilian postretirement benefit plans are as follows (in millions):



2016	$	1.5
2017	1.6
2018	1.7
2019	1.7
2020	1.7
2021 through 2025	9.4
	$	17.6

Investment Strategy and Concentration of Risk

The weighted average asset allocation of the Company’s U.S. pension benefit plans as of December 31, 2015 and 2014 are as follows:



Asset Category	2015		2014
Large and small cap domestic equity securities	28	%	28	%
International equity securities	10	%	10	%
Domestic fixed income securities	44	%	42	%
Other investments	18	%	20	%
Total	100	%	100	%

The weighted average asset allocation of the Company’s non-U.S. pension benefit plans as of December 31, 2015 and 2014 are as follows:



Asset Category	2015		2014
Equity securities	44	%	42	%
Fixed income securities	36	%	38	%
Other investments	20	%	20	%
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 Accounting Standards Codification 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: These investments are reported at fair value as determined by the general partner of the alternative investment. 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 generally is 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, 2015 is as follows (in millions):



	Total		Level 1		Level 2		Level 3
Equity securities:
Global equities	$	129.0	$	129.0	$	—	$	—
Non-U.S. equities	3.9		3.9		—		—
U.K. equities	124.8		124.8		—		—
U.S. large cap equities	7.1		7.1		—		—
U.S. small cap equities	3.6		3.6		—		—
Total equity securities	268.4		268.4		—		—
Fixed income:
Aggregate fixed income	16.8		16.8		—		—
International fixed income	204.8		204.8		—		—
Total fixed income share⁽¹⁾	221.6		221.6		—		—
Cash and equivalents:
Cash	7.4		—		7.4		—
Total cash and equivalents	7.4		—		7.4		—
Alternative investments⁽²⁾	111.6		—		—		111.6
Miscellaneous funds⁽³⁾	21.7		—		—		21.7
Total assets	$	630.7	$	490.0	$	7.4	$	133.3

______________________________________


(1)	45% of “fixed income” securities are in investment-grade corporate bonds; 32% are in government treasuries; and 23% are in other various fixed income securities.


(2)	34% of “alternative investments” are in long-short equity funds; 26% are in event-driven funds; 13% are in relative value funds; 13% are in credit funds; 12% are distributed in hedged and non-hedged funds; and 2% 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, 2015 (in millions):



	Total			Alternative Investments			Miscellaneous Funds
Beginning balance as of December 31, 2014	$	147.1		$	124.3		$	22.8
Actual return on plan assets:
(a) Relating to assets still held at reporting date	(0.6		)	(2.2		)	1.6
(b) Relating to assets sold during period	—			—			—
Purchases, sales and /or settlements	(4.5		)	(4.3		)	(0.2		)
Foreign currency exchange rate changes	(8.7		)	(6.2		)	(2.5		)
Ending balance as of December 31, 2015	$	133.3		$	111.6		$	21.7

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

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 at December 31, 2015 was 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 7.25%. 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, 2016, 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 $12.0 million, $13.3 million and $13.0 million for the years ended December 31, 2015, 2014 and 2013, respectively.

Stockholders' Equity

12 Months Ended

Dec. 31, 2015

Stockholders' Equity Note [Abstract]

Stockholders' Equity

Stockholders’ Equity

Common Stock

At December 31, 2015, the Company had 150,000,000 authorized shares of common stock with a par value of $0.01 per share, with approximately 83,814,809 shares of common stock outstanding and approximately 4,311,886 shares reserved for issuance under the Company’s 2006 Long-Term Incentive Plan (the “2006 Plan”) (Note 10).

Share Repurchase Program

In June 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 2015, the Company entered into accelerated share repurchase (“ASR”) agreements with a financial institution to repurchase an aggregate of $287.5 million of shares of the Company’s common stock. The Company received approximately 5,541,930 shares during the year ended December 31, 2015 related to these ASR agreements. During 2014, the Company entered into ASR agreements with a financial institution to repurchase an aggregate of $415.0 million of shares of the Company’s common stock. The Company received approximately 8,248,183 shares during the year ended December 31, 2014 related to these ASR agreements. All shares received under the ASR agreements 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.

During 2014, through open market transactions, the Company repurchased 1,818,139 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. 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.

As of December 31, 2015, the remaining amount authorized to be repurchased is approximately $244.2 million.

During 2016, the Company entered into an ASR agreement with a financial institution to repurchase an aggregate of $60.0 million shares of the Company’s common stock. The Company received approximately 974,619 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 agreement, which expires during the second quarter of 2016. All shares received under the ASR agreement 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 its 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. On January 28, 2016, the Company’s Board of Directors approved an increase in the quarterly dividend from $0.12 per common share to $0.13 per common share beginning the first quarter of 2016.

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, 2015 and 2014 (in millions):



	Defined Benefit Pension Plans			Cumulative Translation Adjustment			Deferred Net Gains (Losses) on Derivatives			Total
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		)
Other comprehensive loss before reclassifications	(2.4		)	(556.1		)	(4.6		)	(563.1		)
Net losses reclassified from accumulated other comprehensive loss	6.7			—			2.7			9.4
Other comprehensive income (loss), net of reclassification adjustments	4.3			(556.1		)	(1.9		)	(553.7		)
Accumulated other comprehensive loss, December 31, 2015	$	(249.0	)	$	(1,209.2	)	$	(2.0	)	$	(1,460.2	)

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, 2015 and 2014 (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, 2015 ⁽¹⁾			Year ended December 31, 2014 ⁽¹⁾
Derivatives:
Net losses on foreign currency contracts	$	2.6		$	1.4		Cost of goods sold
Net losses on interest rate swap contracts	0.5			—			Interest expense, net
Reclassification before tax	3.1			1.4
	(0.4		)	0.1			Income tax provision
Reclassification net of tax	$	2.7		$	1.5

Defined benefit pension plans:
Amortization of net actuarial losses	$	8.1		$	9.6		⁽²⁾
Amortization of prior service cost	0.6			1.0			⁽²⁾
Reclassification before tax	8.7			10.6
	(2.0		)	(2.7		)	Income tax provision
Reclassification net of tax	$	6.7		$	7.9

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

____________________________________


(1)	Losses included within the Consolidated Statements of Operations for the years ended December 31, 2015 and 2014, 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.

- Definition

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.

+ References

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
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 30
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6405834&loc=d3e23285-112656

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644

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

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21564-112644

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 4
-Section E

Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 4
-Section C

+ Details

Stock Incentive Plan

12 Months Ended

Dec. 31, 2015

Share-based Compensation [Abstract]

Stock Incentive Plan

Under the 2006 Plan, up to 10,000,000 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 and Related Performance Awards

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, return on invested capital and operating margin, 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 specified period, depending on the measurement. Performance periods for the Company’s primary 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. 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 2015, 2014 and 2013 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 2015, 2014 and 2013 was as follows:



	Years Ended December 31,
	2015		2014		2013
Weighted average grant-date fair value	$	45.54	$	53.87	$	51.51

During 2015, the Company granted 861,686 performance awards related to varying performance periods. The awards granted assume the maximum target or target level of performance is achieved, as applicable.

Performance award transactions during 2015 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	2,481,767
Shares awarded	861,686
Shares forfeited or unearned	(1,894,057	)
Shares earned	—
Shares awarded but not earned at December 31	1,449,396

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, 2015, no shares were earned or issued. Based on the level of performance achieved as of December 31, 2014, the following shares were earned under the 2012-2014 performance period and issued in the subsequent year, net of shares withheld for taxes related to the earned award:



	Year Ended December 31, 2014
Shares earned at year-end	286,804
Shares withheld for taxes on the earned awards	113,334
Shares issued subsequent to year-end, net	173,470

As of December 31, 2015, the total compensation cost related to unearned performance awards not yet recognized, assuming the Company’s current projected assessment of the level of performance that will be achieved and earned, was approximately $10.1 million, and the weighted average period over which it is expected to be recognized is approximately two years. This estimate is based on the current projected levels of performance of outstanding awards. The compensation cost not yet recognized could be higher or lower based on actual achieved levels of performance.

Restricted Stock Units

During the year ended December 31, 2015, the Company granted 144,398 restricted stock unit (“RSU”) awards. These awards entitle the participant to receive one share of the Company’s common stock for each RSU granted and vest one-third per year over a three-year requisite service period. Dividends will accrue on all unvested grants until the end of each vesting date within this grant’s three-year requisite service period. In January 2016, the Company amended its RSU award agreement such that dividends will not accrue on unvested grants over the requisite service period on all future RSU grants. The compensation expense associated with these awards is being amortized ratably over the requisite service period for the awards that are expected to vest. The weighted average grant-date fair value of the RSUs granted under the 2006 Plan during the year ended December 31, 2015 was $44.03. RSU transactions during the year ended December 31, 2015 were as follows:



Shares awarded but not vested at January 1	—
Shares awarded	144,398
Shares forfeited	(7,002	)
Shares vested	—
Shares awarded but not vested at December 31	137,396

As of December 31, 2015, the total compensation cost related to the unvested RSUs not yet recognized was approximately $4.2 million, and the weighted average period over which it is expected to be recognized is approximately two years.

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 $5.0 million, $5.2 million and $4.7 million associated with SSAR award grants during 2015, 2014 and 2013, 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, 2015, 2014 and 2013:



	Years Ended December 31,
	2015			2014			2013
Weighted average grant-date fair value	$	7.41		$	13.11		$	21.10
Weighted average assumptions under Black-Scholes option model:
Expected life of awards (years)	3.0			3.0			5.5
Risk-free interest rate	0.9		%	0.9		%	0.9		%
Expected volatility	25.9		%	35.7		%	50.3		%
Expected dividend yield	1.1		%	0.8		%	0.8		%

SSAR transactions during the year ended December 31, 2015 were as follows:



SSARs outstanding at January 1	1,220,824
SSARs granted	325,200
SSARs exercised	(75,850		)
SSARs canceled or forfeited	(150,263		)
SSARs outstanding at December 31	1,319,911
SSAR price ranges per share:
Granted	$	43.88
Exercised	21.45 - 52.94
Canceled or forfeited	43.88 - 56.98
Weighted average SSAR exercise prices per share:
Granted	$	43.88
Exercised	27.01
Canceled or forfeited	54.75
Outstanding at December 31	49.56

At December 31, 2015, the weighted average remaining contractual life of SSARs outstanding was approximately four years. As of December 31, 2015, the total compensation cost related to unvested SSARs not yet recognized was approximately $5.9 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, 2015:



	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, 2015	Weighted Average Exercise Price
$32.01 - $43.88	429,025	4.8	$	41.25	112,650	$	33.86
$47.89 - $63.64	890,886	3.9	$	53.56	497,490	$	53.09
	1,319,911				610,140	$	49.54

The total fair value of SSARs vested during 2015 was approximately $4.2 million. There were 709,771 SSARs that were not vested as of December 31, 2015. The total intrinsic value of outstanding and exercisable SSARs as of December 31, 2015 was $1.8 million and $1.3 million, respectively. The total intrinsic value of SSARs exercised during 2015 was approximately $1.8 million.

The excess tax benefit realized for tax deductions in the United States related to the exercise of SSARs and vesting of RSU awards under the 2006 Plan was approximately $0.7 million for the year ended December 31, 2015. 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. The Company realized an insignificant tax benefit from the exercise of SSARs, vesting of performance awards, vesting of RSU awards and exercise of stock options in certain foreign jurisdictions during the years ended December 31, 2015, 2014 and 2013.

On January 26, 2016, the Company granted 334,199 performance award shares (subject to the Company achieving future target levels of performance), 296,200 SSARs and 138,975 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 2015 grant was made on April 23, 2015 and equated to 22,095 shares of common stock, of which 15,711 shares of common stock were issued, after shares were withheld for taxes. The Company recorded stock compensation expense of approximately $1.1 million during 2015 associated with these grants.

As of December 31, 2015, of the 10,000,000 shares reserved for issuance under the 2006 Plan, approximately 4,311,886 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, 2015

Derivative Instruments and Hedges, Assets [Abstract]

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 or the net investment hedges in foreign operations. When it is determined that a derivative is no longer highly effective as a hedge, hedge accounting is discontinued on a prospective basis.

The Company categorizes its derivative 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.

Foreign Currency Risk and Interest Rate 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 may be partially hedged from time to time. The Company’s most significant translation exposures are the Euro, the British pound and the Brazilian real in relation to the United States dollar and the Swiss franc in relation to the Euro. When practical, the translation impact is reduced by financing local operations with local borrowings.

The Company uses floating rate and fixed rate debt to finance its operations. The floating rate debt obligations expose the Company to variability in interest payments due to changes in the EURIBOR and LIBOR benchmark interest rates. The Company believes it is prudent to limit the variability of a portion of its interest payments, and to meet that objective, the Company periodically enters into interest rate swaps to manage the interest rate risk associated with the Company’s borrowings. The Company designates interest rate contracts used to convert the interest rate exposure on a portion of the Company’s debt portfolio from a floating rate to a fixed rate as cash flow hedges, while those contracts converting the Company’s interest rate exposure from a fixed rate to a floating rate are designated as fair value hedges.

The Company’s senior management establishes the Company’s foreign currency and interest rate risk management policies. These policies are reviewed periodically by the Finance 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.

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.

Derivative Transactions Designated as Hedging Instruments

Foreign Currency Contracts

During 2015, 2014 and 2013, 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, 2015, 2014 and 2013 was approximately $2.4 million, $1.5 million and $0.5 million, respectively, on an after-tax basis. The amount of the unrealized loss recorded to other comprehensive loss related to the outstanding cash flow hedges as of December 31, 2015, 2014 and 2013 was less than $0.1 million, and approximately $0.1 million and $0.2 million, respectively, on an after-tax basis. As of December 31, 2015, there were no outstanding foreign currency cash flow hedge contracts. As of December 31, 2014, the Company had outstanding foreign currency contracts with a notional amount of approximately $23.8 million that were entered into to hedge forecasted sale and purchase transactions.

Interest Rate Swap Contracts

Cash Flow Hedge

During 2015, the Company entered into an interest rate swap instrument with a notional amount of €312.0 million (or approximately $338.9 million at December 31, 2015) and an expiration date of June 26, 2020. The swap was designated and accounted for as a cash flow hedge. Under the swap agreement, the Company pays a fixed interest rate of 0.33% plus the applicable margin, and the counterparty to the agreement pays a floating interest rate based on the three-month EURIBOR.

Changes in the fair value of the interest rate swap are recorded in other comprehensive loss. These amounts are subsequently reclassified into “Interest expense, net” as a rate adjustment in the same period in which the related interest expense on the Company’s floating rate term loan facility affects earnings. For the year ended December 31, 2015, the effective portion of the unrealized change in fair value, net of tax, was a loss of approximately $2.0 million, which was recorded in other comprehensive loss. The amount of the net loss recorded in other comprehensive loss that was reclassified into “Interest expense, net” during the year ended December 31, 2015 was approximately $0.3 million, on an after-tax basis. There was no ineffectiveness during the year ended December 31, 2015.

Fair Value Hedge

During 2015, the Company entered into an interest rate swap instrument with a notional amount of $300.0 million and an expiration date of December 1, 2021 designated as a fair value hedge of the Company’s 5⁷/8% senior notes (Note 7). Under the interest rate swap, the Company pays a floating interest rate based on the three-month LIBOR plus a spread of 4.14% (or a weighted average interest rate of 4.53% from the date of inception of the interest rate swap to December 31, 2015) and the counterparty to the agreement pays a fixed interest rate of 5⁷/8%. The gains and losses related to changes in the fair value of the interest rate swap are recorded to “Interest expense, net” and offset changes in the fair value of the underlying hedged 5⁷/8% senior notes.

For the year ended December 31, 2015, the Company recorded unrealized gains on the hedged debt of approximately $2.6 million in “Interest expense, net” in the Consolidated Statements of Operations. The unrealized losses of approximately $2.6 million on the related interest rate swap instrument offset such unrealized gains, and were also recorded in “Interest expense, net” in the Consolidated Statements of Operations.

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, 2015, 2014 and 2013 (in millions):



	Before-Tax Amount			Income Tax			After-Tax Amount
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		)
Net changes in fair value of derivatives	(6.2		)	(1.6		)	(4.6		)
Net losses reclassified from accumulated other comprehensive loss into income	3.1			0.4			2.7
Accumulated derivative net losses as of December 31, 2015	$	(3.3	)	$	(1.3	)	$	(2.0	)

Net Investment Hedges

The Company uses non-derivative and, from time to time, derivative instruments, to hedge a portion of its net investment in foreign operations against adverse movements in exchange rates. The Company measures ineffectiveness on these derivatives based on changes in forward rates.

For instruments that are designated as hedges of net investments in foreign operations, changes in the fair value of the derivative instruments are recorded in foreign currency translation adjustments, a component of accumulated other comprehensive loss, to offset changes in the value of the net investments being hedged. When the net investment in foreign operations is sold or substantially liquidates, the amounts recorded in accumulated other comprehensive loss are reclassified to earnings. To the extent foreign currency denominated debt is dedesignated from a net investment hedge relationship, changes in the value of the foreign currency denominated debt are recorded in earnings through the maturity date.

During 2015, the Company designated its €312.0 million (or approximately $338.9 million at December 31, 2015) term loan facility with a maturity date of June 26, 2020 as a hedge of its net investment in foreign operations to offset foreign currency translation gains or losses on the net investment. For the year ended December 31, 2015, approximately $7.5 million of foreign currency gains were included in the cumulative translation adjustment component of accumulated other comprehensive loss.

There was no ineffectiveness with respect to the net investment hedge discussed above during the year ended December 31, 2015.

Derivative Transactions Not Designated as Hedging Instruments

During 2015, 2014 and 2013, 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, 2015 and 2014, the Company had outstanding foreign currency contracts with a notional amount of approximately $1,533.9 million and $1,810.5 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, 2015, 2014 and 2013, the Company recorded a net loss of approximately $67.3 million and $2.3 million, and a net gain of approximately $9.5 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, 2015 (in millions):



	Asset Derivatives as of December 31, 2015			Liability Derivatives as of December 31, 2015
	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Derivative instruments designated as hedging instruments:
Interest rate swap contracts	Other noncurrent assets	$	—	Other noncurrent liabilities	$	5.9
Derivative instruments not designated as hedging instruments:
Foreign currency contracts	Other current assets	4.8		Other current liabilities	7.9
Total derivative instruments		$	4.8		$	13.8

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

- Definition

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.

+ References

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+ Details

Commitments and Contingencies

12 Months Ended

Dec. 31, 2015

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

The future payments required under the Company’s significant commitments, excluding indebtedness, as of December 31, 2015 are as follows (in millions):



	Payments Due By Period
	2016		2017		2018		2019		2020		Thereafter		Total
Interest payments related to indebtedness⁽¹⁾	$	52.2	$	20.2	$	17.4	$	15.6	$	13.4	$	9.9	$	128.7
Capital lease obligations	2.1		0.9		0.4		—		—		—		3.4
Operating lease obligations	50.2		33.5		24.9		12.6		10.1		43.0		174.3
Unconditional purchase obligations⁽²⁾	71.1		10.5		6.0		0.1		—		—		87.7
Other short-term and long-term obligations⁽³⁾	95.4		37.1		45.9		40.8		40.7		109.7		369.6
Total contractual cash obligations	$	271.0	$	102.2	$	94.6	$	69.1	$	64.2	$	162.6	$	763.7

____________________________________


(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
	2016		2017		2018		2019		2020		Thereafter		Total
Guarantees	$	63.2	$	2.7	$	1.6	$	0.7	$	0.1	$	—	$	68.3

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, AGCO Finance LLC, which limits the Company’s purchase obligations under this arrangement to $6.0 million in the aggregate per calendar year. The Company believes that any losses that might be incurred on the resale of this equipment will not materially impact the Company’s financial position or results of operations, due to the fair value of the underlying equipment.

At December 31, 2015, the Company guaranteed indebtedness owed to third parties of approximately $68.3 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 2020. 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, 2015, the Company had outstanding non-designated foreign exchange contracts with a gross notional amount of approximately $1,533.9 million, and there were no outstanding designated foreign exchange contracts as of December 31, 2015.

The Company sells a majority of its wholesale accounts receivable in North America and Europe to the Company’s U.S., Canadian and European finance joint ventures, and a portion of its wholesale accounts receivable to its finance joint venture in Brazil. 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 $77.2 million, $91.4 million and $83.6 million for the years ended December 31, 2015, 2014 and 2013, respectively.

Contingencies

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, 2015, not including interest and penalties, was approximately 131.5 million Brazilian reais (or approximately $33.2 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 of Financial Instruments

12 Months Ended

Dec. 31, 2015

Fair Value Disclosures [Abstract]

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 and interest rate swap contracts. The fair values of the Company’s derivative instruments are determined using discounted cash flow valuation models. The significant inputs used in these models are readily available in public markets, or can be derived from observable market transactions, and therefore have been classified as Level 2. Inputs used in these discounted cash flow valuation models for derivative instruments include the applicable exchange rates, forward rates or interest rates. Such models used for option contracts also use implied volatility. See Note 11 for a discussion of the Company’s derivative instruments and hedging activities.

The Company’s trading securities consist of foreign-based government bonds. The fair value of the Company’s investments in trading securities classified as Level 2 are priced using nonbinding market prices that are corroborated by observable by market data.

Assets and liabilities measured at fair value on a recurring basis as of December 31, 2015 and 2014 are summarized below (in millions):



	As of December 31, 2015
	Level 1		Level 2		Level 3		Total
Derivative assets	$	—	$	4.8	$	—	$	4.8
Derivative liabilities	$	—	$	13.8	$	—	$	13.8
Long-term debt	$	—	$	297.4	$	—	$	297.4
Trading securities	$	—	$	6.6	$	—	$	6.6



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

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, credit facility and 1.056% senior term loan (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.

- Definition

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, 2015
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 both 2015 and 2014, the Company did not make additional investments in its finance joint ventures. During 2013, the Company made a total of approximately $15.5 million 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. 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). During 2015, the Company entered into an accounts receivable sales agreement that permits the sale, on an ongoing basis, of a portion of its wholesale receivables in Brazil to its Brazilian finance joint venture. 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, 2015, TAFE owned 12,150,152 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 2015, 2014 and 2013, the Company purchased approximately $129.2 million, $149.0 million and $90.7 million, respectively, of tractors and components from TAFE. During 2015, 2014 and 2013, the Company sold approximately $2.2 million, $2.1 million and $0.8 million, respectively, of parts to TAFE. The Company received dividends from TAFE of approximately $1.7 million, $1.8 million and $1.6 million during 2015, 2014 and 2013, respectively. During 2015, 2014 and 2013, the Company paid approximately $3.0 million, $3.4 million and $3.3 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.

- Definition

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, 2015

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 (loss) 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 (loss) from operations for one segment may not be comparable to another segment. Segment results for the years ended December 31, 2015, 2014 and 2013 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
2015
Net sales	$	1,965.0	$	949.0	$	4,151.3	$	402.0		$	7,467.3
Income (loss) from operations	123.4		34.4		416.7		(27.6		)	546.9
Depreciation	62.7		20.9		122.4		11.4			217.4
Assets	943.7		490.0		1,757.2		346.3			3,537.2
Capital expenditures	48.6		28.6		100.8		33.4			211.4
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

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



	2015			2014			2013
Segment income from operations	$	546.9		$	841.9		$	1,097.3
Corporate expenses	(109.2		)	(117.7		)	(116.2		)
Stock compensation (expense) credit	(11.6		)	9.7			(32.6		)
Restructuring and other infrequent expenses	(22.3		)	(46.4		)	—
Amortization of intangibles	(42.7		)	(41.0		)	(47.8		)
Consolidated income from operations	$	361.1		$	646.5		$	900.7

Segment assets	$	3,537.2		$	4,136.5		$	4,434.7
Cash and cash equivalents	426.7			363.7			1,047.2
Receivables from affiliates	70.1			108.4			124.3
Investments in affiliates	392.9			424.1			416.1
Deferred tax assets, other current and noncurrent assets	452.2			589.5			629.2
Intangible assets, net	507.7			553.8			565.6
Goodwill	1,114.5			1,192.8			1,178.7
Consolidated total assets	$	6,501.3		$	7,368.8		$	8,395.8

Net sales by customer location for the years ended December 31, 2015, 2014 and 2013 were as follows (in millions):



	2015		2014		2013
Net sales:
United States	$	1,624.0	$	1,985.4	$	2,216.5
Canada	233.6		333.9		419.4
Germany	913.2		1,240.0		1,301.0
France	762.6		828.4		1,136.8
United Kingdom and Ireland	414.5		490.8		471.8
Finland and Scandinavia	637.0		808.4		828.5
Other Europe	1,077.7		1,376.0		1,422.6
South America	932.3		1,646.2		2,018.5
Middle East and Africa	346.4		414.9		320.7
Asia	201.0		253.6		293.1
Australia and New Zealand	201.1		234.1		214.8
Mexico, Central America and Caribbean	123.9		112.0		143.2
	$	7,467.3	$	9,723.7	$	10,786.9

Net sales by product for the years ended December 31, 2015, 2014 and 2013 were as follows (in millions):



	2015		2014		2013
Net sales:
Tractors	$	4,244.1	$	5,566.8	$	6,491.1
Replacement parts	1,204.4		1,390.1		1,349.1
Other machinery	629.6		875.3		1,001.0
Grain storage and protein production systems	766.2		851.0		771.9
Combines	331.9		581.0		652.8
Application equipment	291.1		459.5		521.0
	$	7,467.3	$	9,723.7	$	10,786.9

Property, plant and equipment and amortizable intangible assets by country as of December 31, 2015 and 2014 was as follows (in millions):



	2015		2014
United States	$	619.0	$	666.7
Finland	165.2		192.5
Germany	369.2		420.8
Brazil	143.6		204.1
Italy	88.3		101.8
China	150.0		138.7
France	68.3		83.2
Other	165.9		187.4
	$	1,769.5	$	1,995.2

- Definition

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.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8981-108599

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9038-108599

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 33
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8971-108599

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8595-108599

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8380-108599

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 26
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8844-108599

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 35
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8984-108599

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9031-108599

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9054-108599

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8538-108599

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 29
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8864-108599

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8924-108599

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8906-108599

+ Details

Subsequent Event	12 Months Ended
Subsequent Event	Dec. 31, 2015
Subsequent Events [Abstract]
Subsequent Event	Subsequent Event On February 2, 2016, the Company acquired Tecno Poultry Equipment S.p.A (“Tecno”) for approximately €53.5 million (or approximately $58.4 million). Tecno, headquartered in Marsango di Campo San Martino, Italy, manufactures and supplies poultry housing and related products, including egg collection equipment and trolley feeding systems. The acquisition was financed through the Company’s credit facility (Note 7). The Company will allocate 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, goodwill and certain identifiable intangible assets.

Schedule II - Valuation and Qualifying Account

12 Months Ended

Dec. 31, 2015

Valuation and Qualifying Accounts [Abstract]

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, 2015
Allowances for sales incentive discounts	$	255.0	$	—	$	195.1	$	(196.1	)	$	—	$	254.0
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



			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, 2015
Allowances for doubtful accounts	$	32.1	$	—	$	5.6	$	(3.0	)	$	(5.4	)	$	29.3
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



			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, 2015
Accruals of severance, relocation and other integration costs	$	25.4	$	23.0	$	(0.7	)	$	(29.5	)	$	(1.3	)	$	16.9
Year ended December 31, 2014
Accruals of severance, relocation and other integration costs	$	—	$	44.4	$	—		$	(18.8	)	$	(0.2	)	$	25.4



			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, 2015
Deferred tax valuation allowance	$	93.3	$	—	$	(4.5	)	$	—		$	(13.0	)	$	75.8
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

_____________________________________

(1)

As of December 31, 2015, approximately $229.5 million of this balance was recorded within “Accrued expenses” and approximately $24.5 million was recorded within “accounts receivable allowances” in the Company’s Consolidated Balance Sheets. 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.

Operations and Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2015

Operations and Summary of Significant Accounting Policies [Abstract]

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, 2015	North America		South America		Europe/Africa/ Middle East		Asia/Pacific		Consolidated
0 to 6 months	$	1,536.5	$	949.0	$	4,132.2	$	402.0	$	7,019.7	94.0	%
7 to 12 months	380.1		—		19.1		—		399.2		5.3	%
13 to 24 months	48.4		—		—		—		48.4		0.7	%
	$	1,965.0	$	949.0	$	4,151.3	$	402.0	$	7,467.3	100.0	%



	2015		2014
Sales incentive discounts	$	24.5	$	18.5
Doubtful accounts	29.3		32.1
	$	53.8	$	50.6

Inventories

Inventories, net at December 31, 2015 and 2014 were as follows (in millions):



	2015		2014
Finished goods	$	523.1	$	616.6
Repair and replacement parts	515.4		536.4
Work in process	97.5		130.5
Raw materials	287.4		467.2
Inventories, net	$	1,423.4	$	1,750.7

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, Other Intangible Assets and Long-Lived Assets

Amortization of certain Intangible Assets

Changes in the carrying amount of goodwill during the years ended December 31, 2015, 2014 and 2013 are summarized as follows (in millions):



	North America		South America			Europe/Africa/ Middle East			Asia/Pacific			Consolidated
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
Acquisition	5.1		—			9.3			7.8			22.2
Foreign currency translation	—		(55.3		)	(38.7		)	(6.5		)	(100.5		)
Balance as of December 31, 2015	$	518.7	$	114.4		$	425.2		$	56.2		$	1,114.5

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

The Company expenses all advertising costs as incurred. Cooperative advertising costs normally are expensed at the time the revenue is earned.

Shipping and Handling Expenses

Income Taxes

Net Income Per Common Share

Comprehensive Income (Loss)

Derivatives

The Company uses non-derivative and, periodically, derivative instruments to hedge a portion of the Company’s net investment in foreign operations against adverse movements in exchange rates.

Recent Accounting Pronouncements

Operations and Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2015

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, 2015	North America		South America		Europe/Africa/ Middle East		Asia/Pacific		Consolidated
0 to 6 months	$	1,536.5	$	949.0	$	4,132.2	$	402.0	$	7,019.7	94.0	%
7 to 12 months	380.1		—		19.1		—		399.2		5.3	%
13 to 24 months	48.4		—		—		—		48.4		0.7	%
	$	1,965.0	$	949.0	$	4,151.3	$	402.0	$	7,467.3	100.0	%

Trade Allowances and Sales Incentive Discounts

Accounts and notes receivable allowances at December 31, 2015 and 2014 were as follows (in millions):



	2015		2014
Sales incentive discounts	$	24.5	$	18.5
Doubtful accounts	29.3		32.1
	$	53.8	$	50.6

Schedule of Inventory, Current

Inventories, net at December 31, 2015 and 2014 were as follows (in millions):



	2015		2014
Finished goods	$	523.1	$	616.6
Repair and replacement parts	515.4		536.4
Work in process	97.5		130.5
Raw materials	287.4		467.2
Inventories, net	$	1,423.4	$	1,750.7

Property, Plant and Equipment

Property, plant and equipment, net at December 31, 2015 and 2014 consisted of the following (in millions):



	2015			2014
Land	$	105.7		$	113.6
Buildings and improvements	637.4			688.4
Machinery and equipment	1,966.8			2,039.9
Furniture and fixtures	120.0			127.6
Gross property, plant and equipment	2,829.9			2,969.5
Accumulated depreciation and amortization	(1,482.8		)	(1,439.1		)
Property, plant and equipment, net	$	1,347.1		$	1,530.4

Schedule of Goodwill

Changes in the carrying amount of goodwill during the years ended December 31, 2015, 2014 and 2013 are summarized as follows (in millions):



	North America		South America			Europe/Africa/ Middle East			Asia/Pacific			Consolidated
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
Acquisition	5.1		—			9.3			7.8			22.2
Foreign currency translation	—		(55.3		)	(38.7		)	(6.5		)	(100.5		)
Balance as of December 31, 2015	$	518.7	$	114.4		$	425.2		$	56.2		$	1,114.5

Schedule of Acquired Finite-Lived Intangible Assets by Major Class

Changes in the carrying amount of acquired intangible assets during 2015 and 2014 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, 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
Acquisition	1.9			4.1			3.6			—			9.6
Foreign currency translation	(3.2		)	(25.6		)	(5.1		)	(0.6		)	(34.5		)
Balance as of December 31, 2015	$	122.2		$	492.3		$	92.5		$	9.1		$	716.1



	Trademarks and Trade Names			Customer Relationships			Patents and Technology			Land Use Rights			Total
Accumulated amortization:
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
Amortization expense	6.6			32.0			3.9			0.2			42.7
Foreign currency translation	(1.1		)	(19.0		)	(4.9		)	(0.2		)	(25.2		)
Balance as of December 31, 2015	$	41.9		$	193.8		$	55.1		$	2.9		$	293.7

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



Intangible Asset	Weighted-Average Useful Life
Patents and technology	13	years
Customer relationships	14	years
Trademarks and trade names	20	years
Land use rights	45	years

Schedule of Indefinite-lived Intangible Assets by Major Class



	Trademarks and Trade Names
Indefinite-lived intangible assets:
Balance as of December 31, 2013	$	93.7
Foreign currency translation	(4.7		)
Balance as of December 31, 2014	89.0
Foreign currency translation	(3.7		)
Balance as of December 31, 2015	$	85.3

Schedule of Accrued Liabilities

Accrued expenses at December 31, 2015 and 2014 consisted of the following (in millions):



	2015		2014
Reserve for volume discounts and sales incentives	$	443.3	$	465.2
Warranty reserves	195.2		245.7
Accrued employee compensation and benefits	213.7		232.8
Accrued taxes	87.3		108.4
Other	167.4		192.0
	$	1,106.9	$	1,244.1

Schedule of Product Warranty Liability

The warranty reserve activity for the years ended December 31, 2015, 2014 and 2013 consisted of the following (in millions):



	2015			2014			2013
Balance at beginning of the year	$	284.6		$	294.9		$	256.9
Acquisitions	0.2			0.5			—
Accruals for warranties issued during the year	152.6			214.1			200.3
Settlements made (in cash or in kind) during the year	(186.2		)	(205.5		)	(165.7		)
Foreign currency translation	(20.9		)	(19.4		)	3.4
Balance at the end of the year	$	230.3		$	284.6		$	294.9

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 2015, 2014 and 2013:



	Years Ended December 31,
	2015		2014			2013
Cost of goods sold	$	0.9	$	(0.9	)	$	2.3
Selling, general and administrative expenses	11.6		(9.7		)	32.6
Total stock compensation expense (credit)	$	12.5	$	(10.6	)	$	34.9

Schedule of Components of Interest Expense, Net

Interest expense, net for the years ended December 31, 2015, 2014 and 2013 consisted of the following (in millions):



	2015			2014			2013
Interest expense	$	64.1		$	71.9		$	78.8
Interest income	(18.7		)	(13.5		)	(20.8		)
	$	45.4		$	58.4		$	58.0

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, 2015, 2014 and 2013 is as follows (in millions, except per share data):



	2015		2014		2013
Basic net income per share:
Net income attributable to AGCO Corporation and subsidiaries	$	266.4	$	410.4	$	597.2
Weighted average number of common shares outstanding	87.0		93.4		97.3
Basic net income per share attributable to AGCO Corporation and subsidiaries	$	3.06	$	4.39	$	6.14
Diluted net income per share:
Net income attributable to AGCO Corporation and subsidiaries	$	266.4	$	410.4	$	597.2
Weighted average number of common shares outstanding	87.0		93.4		97.3
Dilutive SSARs, performance share awards and restricted stock units	0.1		0.3		0.8
Weighted average assumed conversion of contingently convertible senior subordinated notes	—		0.5		1.3
Weighted average number of common shares and common share equivalents outstanding for purposes of computing diluted net income per share	87.1		94.2		99.4
Diluted net income per share attributable to AGCO Corporation and subsidiaries	$	3.06	$	4.36	$	6.01

Schedule of Comprehensive Income (Loss)

The components of other comprehensive loss and the related tax effects for the years ended December 31, 2015, 2014 and 2013 are as follows (in millions):



	AGCO Corporation and Subsidiaries									Noncontrolling Interests
	2015									2015
	Before-tax Amount			Income Taxes			After-tax Amount			After-tax Amount
Defined benefit pension plans	$	4.9		$	(0.6	)	$	4.3		$	—
Net loss on derivatives	(3.1		)	1.2			(1.9		)	—
Foreign currency translation adjustments	(556.1		)	—			(556.1		)	(2.1		)
Total components of other comprehensive loss	$	(554.3	)	$	0.6		$	(553.7	)	$	(2.1	)



	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	)

Acquisitions (Tables)

12 Months Ended

Dec. 31, 2015

Business Combinations [Abstract]

Schedule Of Acquired Other Identifiable Intangible Assets

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



Intangible Asset	Amount		Weighted-Average Useful Life
Customer relationships	$	4.1	10	years
Technology	3.6		10	years
Trademarks	1.9		10	years
	$	9.6

Investments in Affiliates (Tables)

12 Months Ended

Dec. 31, 2015

Investments in and Advances to Affiliates, Schedule of Investments [Abstract]

Investments in and Advances to Affiliates

Investments in affiliates as of December 31, 2015 and 2014 were as follows (in millions):



	2015		2014
Finance joint ventures	$	359.4	$	389.0
Manufacturing joint ventures	18.1		19.6
Other affiliates	15.4		15.5
	$	392.9	$	424.1

Schedule of Equity Method Investments



	December 31,
	2015		2014
Total assets	$	7,491.2	$	8,836.4
Total liabilities	6,757.8		8,042.9
Partners’ equity	733.4		793.5



	For the Years Ended December 31,
	2015		2014		2013
Revenues	$	313.0	$	383.4	$	389.2
Costs	158.1		234.7		239.4
Income before income taxes	$	154.9	$	148.7	$	149.8

The Company’s equity in net earnings of affiliates for the years ended December 31, 2015, 2014 and 2013 were as follows (in millions):



	2015		2014		2013
Finance joint ventures	$	53.8	$	48.8	$	48.8
Manufacturing and other joint ventures	3.3		4.1		(0.6		)
	$	57.1	$	52.9	$	48.2

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2015

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign

The sources of income (loss) before income taxes and equity in net earnings of affiliates were as follows for the years ended December 31, 2015, 2014 and 2013 (in millions):



	2015			2014		2013
United States	$	(49.1	)	$	63.5	$	133.1
Foreign	328.5			475.5		669.5
Income before income taxes and equity in net earnings of affiliates	$	279.4		$	539.0	$	802.6

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, 2015, 2014 and 2013 consisted of the following (in millions):



	2015			2014			2013
Current:
United States:
Federal	$	(1.3	)	$	12.6		$	9.2
State	2.8			2.8			9.9
Foreign	97.8			168.7			217.7
	99.3			184.1			236.8
Deferred:
United States:
Federal	(19.0		)	(0.4		)	30.2
State	—			—			—
Foreign	(7.8		)	4.0			(8.5		)
	(26.8		)	3.6			21.7
	$	72.5		$	187.7		$	258.5

Schedule of Effective Income Tax Rate Reconciliation



	2015			2014			2013
Provision for income taxes at United States federal statutory rate of 35%	$	97.8		$	188.7		$	280.9
State and local income taxes, net of federal income tax effects	(2.0		)	2.6			5.6
Taxes on foreign income which differ from the United States statutory rate	(34.9		)	(33.4		)	(34.7		)
Tax effect of permanent differences	7.1			(10.3		)	(7.6		)
Change in valuation allowance	(4.5		)	22.8			9.3
Change in tax contingency reserves	15.4			25.2			25.7
Research and development tax credits	(4.9		)	(7.1		)	(19.9		)
Other	(1.5		)	(0.8		)	(0.8		)
	$	72.5		$	187.7		$	258.5

Schedule of Deferred Tax Assets and Liabilities

The significant components of the deferred tax assets and liabilities at December 31, 2015 and 2014 were as follows (in millions):



	2015			2014
Deferred Tax Assets:
Net operating loss carryforwards	$	74.0		$	75.7
Sales incentive discounts	86.6			85.5
Inventory valuation reserves	40.3			33.9
Pensions and postretirement health care benefits	63.4			76.7
Warranty and other reserves	82.3			104.8
Research and development tax credits	9.3			—
Other	34.1			53.4
Total gross deferred tax assets	390.0			430.0
Valuation allowance	(75.8		)	(93.3		)
Total net deferred tax assets	314.2			336.7
Deferred Tax Liabilities:
Tax over book depreciation and amortization	275.1			311.0
Other	24.8			21.5
Total deferred tax liabilities	299.9			332.5
Net deferred tax assets	$	14.3		$	4.2
Amounts recognized in Consolidated Balance Sheets:
Deferred tax assets - noncurrent	$	100.7		$	215.9
Deferred tax liabilities - noncurrent	(86.4		)	(211.7		)
	$	14.3		$	4.2

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, 2015 and 2014 is as follows (in millions):



	2015			2014
Gross unrecognized income tax benefits	$	130.6		$	122.2
Additions for tax positions of the current year	14.4			21.8
Additions for tax positions of prior years	7.1			11.0
Additions for tax positions related to acquisitions	—			(0.6		)
Reductions for tax positions of prior years for:
Changes in judgments	(0.3		)	(2.2		)
Settlements during the period	—			(1.9		)
Lapses of applicable statute of limitations	(5.8		)	(5.4		)
Foreign currency translation	(13.0		)	(14.3		)
Gross unrecognized income tax benefits	$	133.0		$	130.6

Indebtedness (Tables)

12 Months Ended

Dec. 31, 2015

Debt Disclosure [Abstract]

Components of Indebtedness

Indebtedness consisted of the following at December 31, 2015 and 2014 (in millions):



	December 31, 2015			December 31, 2014
4½% Senior term loan due 2016	$	217.2		$	242.0
Credit facility, expires 2020	338.9			404.4
1.056% Senior term loan due 2020	217.2			—
5⁷/8% Senior notes due 2021	297.4			300.0
Other long-term debt	164.3			145.5
	1,235.0			1,091.9
Less: 4½% Senior term loan due 2016	(217.2		)	—
Current portion of other long-term debt	(89.0		)	(94.3		)
Total indebtedness, less current portion	$	928.8		$	997.6

Maturities of Long-term Debt

At December 31, 2015, the aggregate scheduled maturities of long-term debt, excluding the current portion of long-term debt, are as follows (in millions):



2017	$	33.2
2018	20.0
2019	7.6
2020	570.6
Thereafter	297.4
	$	928.8

Interest Expense Recognized on Convertible Senior Subordinated Notes



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

Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2015

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, 2015 and 2014 (in millions):



	Pension and ENPP Benefits						Postretirement Benefits
Change in benefit obligation	2015			2014			2015			2014
Benefit obligation at beginning of year	$	926.8		$	888.2		$	29.6		$	30.3
Service cost	18.7			16.8			—			0.1
Interest cost	31.2			37.3			1.3			1.6
Plan participants’ contributions	1.2			1.3			—			—
Actuarial (gains) losses	(41.7		)	109.6			(1.7		)	(0.7		)
Amendments	8.3			—			—			—
Settlements	(0.5		)	(4.2		)	—			—
Curtailments	—			(7.3		)	—			—
Benefits paid	(50.8		)	(55.9		)	(1.2		)	(1.6		)
Special termination benefits and other	0.5			1.3			—			0.2
Foreign currency exchange rate changes	(49.3		)	(60.3		)	(0.7		)	(0.3		)
Benefit obligation at end of year	$	844.4		$	926.8		$	27.3		$	29.6

	Pension and ENPP Benefits						Postretirement Benefits
	Pension and ENPP Benefits						Postretirement Benefits
Change in plan assets	2015			2014			2015			2014
Fair value of plan assets at beginning of year	$	677.2		$	660.7		$	—		$	—
Actual return on plan assets	5.2			73.7			—			—
Employer contributions	34.0			43.4			1.2			1.6
Plan participants’ contributions	1.2			1.3			—			—
Benefits paid	(50.8		)	(55.9		)	(1.2		)	(1.6		)
Settlements	(0.5		)	(4.2		)	—			—
Foreign currency exchange rate changes	(35.6		)	(41.8		)	—			—
Fair value of plan assets at end of year	$	630.7		$	677.2		$	—		$	—
Funded status	$	(213.7	)	$	(249.6	)	$	(27.3	)	$	(29.6	)
Unrecognized net actuarial losses	319.0			329.7			1.4			3.3
Unrecognized prior service cost	11.2			3.2			3.6			3.7
Accumulated other comprehensive loss	(330.2		)	(332.9		)	(5.0		)	(7.0		)
Net amount recognized	$	(213.7	)	$	(249.6	)	$	(27.3	)	$	(29.6	)



Amounts recognized in Consolidated Balance Sheets:
Other long-term asset	$	0.2		$	—		$	—		$	—
Other current liabilities	(3.5		)	(3.3		)	(1.5		)	(1.5		)
Accrued expenses	(2.3		)	(5.4		)	—			—
Pensions and postretirement health care benefits (noncurrent)	(208.1		)	(240.9		)	(25.8		)	(28.1		)
Net amount recognized	$	(213.7	)	$	(249.6	)	$	(27.3	)	$	(29.6	)

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, 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		)
Other comprehensive loss before reclassifications	(2.4		)	(556.1		)	(4.6		)	(563.1		)
Net losses reclassified from accumulated other comprehensive loss	6.7			—			2.7			9.4
Other comprehensive income (loss), net of reclassification adjustments	4.3			(556.1		)	(1.9		)	(553.7		)
Accumulated other comprehensive loss, December 31, 2015	$	(249.0	)	$	(1,209.2	)	$	(2.0	)	$	(1,460.2	)

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 had the following effect to service and interest cost for 2015 and the accumulated postretirement benefit obligation for both the U.S. and Brazilian postretirement plans at December 31, 2015 (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	$	3.2	$	(2.7	)

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, 2015, 2014 and 2013 for the Company’s defined benefit pension plans and ENPP are set forth below (in millions):



Pension benefits	2015			2014⁽¹⁾			2013
Service cost	$	18.7		$	16.8		$	18.0
Interest cost	31.2			37.3			35.4
Expected return on plan assets	(44.4		)	(44.5		)	(37.6		)
Amortization of net actuarial losses	8.0			9.5			14.0
Amortization of prior service cost	0.4			0.8			0.8
Net loss recognized due to settlement	0.2			0.4			0.1
Net gain recognized due to curtailment	—			(0.5		)	—
Special termination benefits	0.5			1.3			—
Net annual pension cost	$	14.6		$	21.0		$	30.7

____________________________________


(1)	Rounding may impact summation of amounts.

Assumptions Used



	2015		2014		2013
All plans:
Weighted average discount rate	3.5	%	4.4	%	4.3	%
Weighted average expected long-term rate of return on plan assets	6.8	%	6.9	%	6.8	%
Rate of increase in future compensation	2.25%-5.0%		2.5-5.0%		2.5-5.0%
U.S.-based plans:
Weighted average discount rate	4.15	%	4.75	%	3.85	%
Weighted average expected long-term rate of return on plan assets⁽¹⁾	6.0	%	7.0	%	7.0	%
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.

The weighted average assumptions used to determine the benefit obligation for the Company’s defined benefit pension plans and ENPP as of December 31, 2015 and 2014 are as follows:



	2015		2014
All plans:
Weighted average discount rate	3.6	%	3.5	%
Rate of increase in future compensation	2.0%-5.0%		2.5-5.0%
U.S.-based plans:
Weighted average discount rate	4.60	%	4.15	%
Rate of increase in future compensation⁽¹⁾	5.0	%	5.0	%

____________________________________


(1)	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, 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 losses	9.6			2.3			7.3
Accumulated other comprehensive loss as of December 31, 2014	$	(341.5	)	$	(88.2	)	$	(253.3	)
Prior service cost arising during the year	(8.3		)	(3.6		)	(4.7		)
Net loss recognized due to settlement	0.3			0.1			0.2
Net actuarial gain arising during the year	4.2			2.1			2.1
Amortization of prior service cost	0.6			0.2			0.4
Amortization of net actuarial losses	8.1			1.8			6.3
Accumulated other comprehensive loss as of December 31, 2015	$	(336.6	)	$	(87.6	)	$	(249.0	)

Expected Benefit Payments

At December 31, 2015, the aggregate expected benefit payments for the Company’s defined benefit pension plans and ENPP are as follows (in millions):



2016	$	48.0
2017	49.5
2018	50.2
2019	50.4
2020	51.5
2021 through 2025	279.5
	$	529.1

Allocation of Plan Assets

The fair value of the Company’s pension assets as of December 31, 2015 is as follows (in millions):



	Total		Level 1		Level 2		Level 3
Equity securities:
Global equities	$	129.0	$	129.0	$	—	$	—
Non-U.S. equities	3.9		3.9		—		—
U.K. equities	124.8		124.8		—		—
U.S. large cap equities	7.1		7.1		—		—
U.S. small cap equities	3.6		3.6		—		—
Total equity securities	268.4		268.4		—		—
Fixed income:
Aggregate fixed income	16.8		16.8		—		—
International fixed income	204.8		204.8		—		—
Total fixed income share⁽¹⁾	221.6		221.6		—		—
Cash and equivalents:
Cash	7.4		—		7.4		—
Total cash and equivalents	7.4		—		7.4		—
Alternative investments⁽²⁾	111.6		—		—		111.6
Miscellaneous funds⁽³⁾	21.7		—		—		21.7
Total assets	$	630.7	$	490.0	$	7.4	$	133.3

______________________________________


(1)	45% of “fixed income” securities are in investment-grade corporate bonds; 32% are in government treasuries; and 23% are in other various fixed income securities.


(2)	34% of “alternative investments” are in long-short equity funds; 26% are in event-driven funds; 13% are in relative value funds; 13% are in credit funds; 12% are distributed in hedged and non-hedged funds; and 2% are in multi-strategy funds.


(3)	“Miscellaneous funds” is comprised of insurance 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.


(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

Reconciliation of Significant Unobservable Inputs, Changes in Plan Assets

The following is a reconciliation of Level 3 assets as of December 31, 2015 (in millions):



	Total			Alternative Investments			Miscellaneous Funds
Beginning balance as of December 31, 2014	$	147.1		$	124.3		$	22.8
Actual return on plan assets:
(a) Relating to assets still held at reporting date	(0.6		)	(2.2		)	1.6
(b) Relating to assets sold during period	—			—			—
Purchases, sales and /or settlements	(4.5		)	(4.3		)	(0.2		)
Foreign currency exchange rate changes	(8.7		)	(6.2		)	(2.5		)
Ending balance as of December 31, 2015	$	133.3		$	111.6		$	21.7

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

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, 2015 and 2014 are as follows:



Asset Category	2015		2014
Large and small cap domestic equity securities	28	%	28	%
International equity securities	10	%	10	%
Domestic fixed income securities	44	%	42	%
Other investments	18	%	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, 2015 and 2014 are as follows:



Asset Category	2015		2014
Equity securities	44	%	42	%
Fixed income securities	36	%	38	%
Other investments	20	%	20	%
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, 2015, 2014 and 2013 are set forth below (in millions, except percentages):



Postretirement benefits	2015			2014			2013
Service cost	$	—		$	0.1		$	0.1
Interest cost	1.3			1.6			1.7
Amortization of prior service cost	0.2			0.2			0.2
Amortization of net actuarial losses	0.1			0.1			0.5
Other	—			0.2			—
Net annual postretirement benefit cost	$	1.6		$	2.2		$	2.5
Weighted average discount rate	4.6		%	5.3		%	4.7		%

Expected Benefit Payments

At December 31, 2015, the aggregate expected benefit payments for the Company’s U.S. and Brazilian postretirement benefit plans are as follows (in millions):



2016	$	1.5
2017	1.6
2018	1.7
2019	1.7
2020	1.7
2021 through 2025	9.4
	$	17.6

Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2015

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, 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		)
Other comprehensive loss before reclassifications	(2.4		)	(556.1		)	(4.6		)	(563.1		)
Net losses reclassified from accumulated other comprehensive loss	6.7			—			2.7			9.4
Other comprehensive income (loss), net of reclassification adjustments	4.3			(556.1		)	(1.9		)	(553.7		)
Accumulated other comprehensive loss, December 31, 2015	$	(249.0	)	$	(1,209.2	)	$	(2.0	)	$	(1,460.2	)

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, 2015 ⁽¹⁾			Year ended December 31, 2014 ⁽¹⁾
Derivatives:
Net losses on foreign currency contracts	$	2.6		$	1.4		Cost of goods sold
Net losses on interest rate swap contracts	0.5			—			Interest expense, net
Reclassification before tax	3.1			1.4
	(0.4		)	0.1			Income tax provision
Reclassification net of tax	$	2.7		$	1.5

Defined benefit pension plans:
Amortization of net actuarial losses	$	8.1		$	9.6		⁽²⁾
Amortization of prior service cost	0.6			1.0			⁽²⁾
Reclassification before tax	8.7			10.6
	(2.0		)	(2.7		)	Income tax provision
Reclassification net of tax	$	6.7		$	7.9

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

____________________________________


(1)	Losses included within the Consolidated Statements of Operations for the years ended December 31, 2015 and 2014, 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 (Tables)

12 Months Ended

Dec. 31, 2015

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 2015, 2014 and 2013 was as follows:



	Years Ended December 31,
	2015		2014		2013
Weighted average grant-date fair value	$	45.54	$	53.87	$	51.51

Performance Award Transactions

Performance award transactions during 2015 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	2,481,767
Shares awarded	861,686
Shares forfeited or unearned	(1,894,057	)
Shares earned	—
Shares awarded but not earned at December 31	1,449,396

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, the following shares were earned under the 2012-2014 performance period and issued in the subsequent year, net of shares withheld for taxes related to the earned award:



	Year Ended December 31, 2014
Shares earned at year-end	286,804
Shares withheld for taxes on the earned awards	113,334
Shares issued subsequent to year-end, net	173,470

Restricted Stock Unit Award Transactions

RSU transactions during the year ended December 31, 2015 were as follows:



Shares awarded but not vested at January 1	—
Shares awarded	144,398
Shares forfeited	(7,002	)
Shares vested	—
Shares awarded but not vested at December 31	137,396

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



	Years Ended December 31,
	2015			2014			2013
Weighted average grant-date fair value	$	7.41		$	13.11		$	21.10
Weighted average assumptions under Black-Scholes option model:
Expected life of awards (years)	3.0			3.0			5.5
Risk-free interest rate	0.9		%	0.9		%	0.9		%
Expected volatility	25.9		%	35.7		%	50.3		%
Expected dividend yield	1.1		%	0.8		%	0.8		%

SSAR Activity

SSAR transactions during the year ended December 31, 2015 were as follows:



SSARs outstanding at January 1	1,220,824
SSARs granted	325,200
SSARs exercised	(75,850		)
SSARs canceled or forfeited	(150,263		)
SSARs outstanding at December 31	1,319,911
SSAR price ranges per share:
Granted	$	43.88
Exercised	21.45 - 52.94
Canceled or forfeited	43.88 - 56.98
Weighted average SSAR exercise prices per share:
Granted	$	43.88
Exercised	27.01
Canceled or forfeited	54.75
Outstanding at December 31	49.56

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, 2015:



	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, 2015	Weighted Average Exercise Price
$32.01 - $43.88	429,025	4.8	$	41.25	112,650	$	33.86
$47.89 - $63.64	890,886	3.9	$	53.56	497,490	$	53.09
	1,319,911				610,140	$	49.54

Derivative Instruments and Hedging Activities (Tables)

12 Months Ended

Dec. 31, 2015

Derivative Instruments and Hedges, Assets [Abstract]

Summary Of Accumulated Other Comprehensive Loss Related To Derivatives



	Before-Tax Amount			Income Tax			After-Tax Amount
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		)
Net changes in fair value of derivatives	(6.2		)	(1.6		)	(4.6		)
Net losses reclassified from accumulated other comprehensive loss into income	3.1			0.4			2.7
Accumulated derivative net losses as of December 31, 2015	$	(3.3	)	$	(1.3	)	$	(2.0	)

Fair Value Of Derivative Instruments

The table below sets forth the fair value of derivative instruments as of December 31, 2015 (in millions):



	Asset Derivatives as of December 31, 2015			Liability Derivatives as of December 31, 2015
	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Derivative instruments designated as hedging instruments:
Interest rate swap contracts	Other noncurrent assets	$	—	Other noncurrent liabilities	$	5.9
Derivative instruments not designated as hedging instruments:
Foreign currency contracts	Other current assets	4.8		Other current liabilities	7.9
Total derivative instruments		$	4.8		$	13.8

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

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2015

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, 2015 are as follows (in millions):



	Payments Due By Period
	2016		2017		2018		2019		2020		Thereafter		Total
Interest payments related to indebtedness⁽¹⁾	$	52.2	$	20.2	$	17.4	$	15.6	$	13.4	$	9.9	$	128.7
Capital lease obligations	2.1		0.9		0.4		—		—		—		3.4
Operating lease obligations	50.2		33.5		24.9		12.6		10.1		43.0		174.3
Unconditional purchase obligations⁽²⁾	71.1		10.5		6.0		0.1		—		—		87.7
Other short-term and long-term obligations⁽³⁾	95.4		37.1		45.9		40.8		40.7		109.7		369.6
Total contractual cash obligations	$	271.0	$	102.2	$	94.6	$	69.1	$	64.2	$	162.6	$	763.7

____________________________________


(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)

Schedule of guarantor obligations



	Amount of Commitment Expiration Per Period
	2016		2017		2018		2019		2020		Thereafter		Total
Guarantees	$	63.2	$	2.7	$	1.6	$	0.7	$	0.1	$	—	$	68.3

Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2015

Fair Value Disclosures [Abstract]

Schedule of assets and liabilities measured at fair value

Assets and liabilities measured at fair value on a recurring basis as of December 31, 2015 and 2014 are summarized below (in millions):



	As of December 31, 2015
	Level 1		Level 2		Level 3		Total
Derivative assets	$	—	$	4.8	$	—	$	4.8
Derivative liabilities	$	—	$	13.8	$	—	$	13.8
Long-term debt	$	—	$	297.4	$	—	$	297.4
Trading securities	$	—	$	6.6	$	—	$	6.6



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

Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2015

Segment Reporting [Abstract]

Sales Information By Reportable Segments

Segment results for the years ended December 31, 2015, 2014 and 2013 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
2015
Net sales	$	1,965.0	$	949.0	$	4,151.3	$	402.0		$	7,467.3
Income (loss) from operations	123.4		34.4		416.7		(27.6		)	546.9
Depreciation	62.7		20.9		122.4		11.4			217.4
Assets	943.7		490.0		1,757.2		346.3			3,537.2
Capital expenditures	48.6		28.6		100.8		33.4			211.4
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

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):



	2015			2014			2013
Segment income from operations	$	546.9		$	841.9		$	1,097.3
Corporate expenses	(109.2		)	(117.7		)	(116.2		)
Stock compensation (expense) credit	(11.6		)	9.7			(32.6		)
Restructuring and other infrequent expenses	(22.3		)	(46.4		)	—
Amortization of intangibles	(42.7		)	(41.0		)	(47.8		)
Consolidated income from operations	$	361.1		$	646.5		$	900.7

Segment assets	$	3,537.2		$	4,136.5		$	4,434.7
Cash and cash equivalents	426.7			363.7			1,047.2
Receivables from affiliates	70.1			108.4			124.3
Investments in affiliates	392.9			424.1			416.1
Deferred tax assets, other current and noncurrent assets	452.2			589.5			629.2
Intangible assets, net	507.7			553.8			565.6
Goodwill	1,114.5			1,192.8			1,178.7
Consolidated total assets	$	6,501.3		$	7,368.8		$	8,395.8

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

Net sales by customer location for the years ended December 31, 2015, 2014 and 2013 were as follows (in millions):



	2015		2014		2013
Net sales:
United States	$	1,624.0	$	1,985.4	$	2,216.5
Canada	233.6		333.9		419.4
Germany	913.2		1,240.0		1,301.0
France	762.6		828.4		1,136.8
United Kingdom and Ireland	414.5		490.8		471.8
Finland and Scandinavia	637.0		808.4		828.5
Other Europe	1,077.7		1,376.0		1,422.6
South America	932.3		1,646.2		2,018.5
Middle East and Africa	346.4		414.9		320.7
Asia	201.0		253.6		293.1
Australia and New Zealand	201.1		234.1		214.8
Mexico, Central America and Caribbean	123.9		112.0		143.2
	$	7,467.3	$	9,723.7	$	10,786.9

Revenue from External Customers by Products and Services

Net sales by product for the years ended December 31, 2015, 2014 and 2013 were as follows (in millions):



	2015		2014		2013
Net sales:
Tractors	$	4,244.1	$	5,566.8	$	6,491.1
Replacement parts	1,204.4		1,390.1		1,349.1
Other machinery	629.6		875.3		1,001.0
Grain storage and protein production systems	766.2		851.0		771.9
Combines	331.9		581.0		652.8
Application equipment	291.1		459.5		521.0
	$	7,467.3	$	9,723.7	$	10,786.9

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, 2015 and 2014 was as follows (in millions):



	2015		2014
United States	$	619.0	$	666.7
Finland	165.2		192.5
Germany	369.2		420.8
Brazil	143.6		204.1
Italy	88.3		101.8
China	150.0		138.7
France	68.3		83.2
Other	165.9		187.4
	$	1,769.5	$	1,995.2

Operations and Summary of Significant Accounting Policies (Details) $ in Millions	12 Months Ended
	Dec. 31, 2015 USD ($) Independent_Dealers_Distributors	Dec. 31, 2014 USD ($)
Accounting Policies [Line Items]
Number of Independent Dealers and Distributors \| Independent_Dealers_Distributors	3,000
Ownership percentage	49.00%
Time period in which remaining installment balance is generally due	12 months
Revenue Recognition [Abstract]
Interest Free Period on Receivables	12 months
Cash and Cash Equivalents [Abstract]
Cash	$ 344.6	$ 215.3
Cash Equivalents, at Carrying Value	82.1	148.4
Noncurrent deferred tax liabilities	$ (86.4)	(211.7)
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 \| United States and Canada
Revenue Recognition [Abstract]
Interest-free period and payment period on products	24 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	24 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
New Accounting Pronouncement, Early Adoption, Effect
Cash and Cash Equivalents [Abstract]
Current deferred tax assets		217.2
Noncurrent deferred tax assets		190.1
Noncurrent deferred tax liabilities		$ 27.1

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

12 Months Ended

Dec. 31, 2015

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

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

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

$ 7,019.7

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

94.00%

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

$ 399.2

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

5.30%

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

$ 48.4

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

0.70%

Net sales

$ 7,467.3

$ 9,723.7

$ 10,786.9

Percent of Net Sales with Maximum Interest-free Periods

100.00%

North America

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

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

$ 1,536.5

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

380.1

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

48.4

Net sales

1,965.0

2,414.2

2,757.8

South America

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

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

949.0

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-Four Months

0.0

Net sales

949.0

1,663.4

2,039.7

Europe/ Africa/ Middle East

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

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

4,132.2

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

19.1

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

0.0

Net sales

4,151.3

5,158.5

5,481.5

Asia/ Pacific

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

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

402.0

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-Four Months

0.0

Net sales

402.0

487.6

507.9

Operating Segments

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

Net sales

7,467.3

9,723.7

10,786.9

Accounts Receivable

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

Valuation Allowances and Reserves, Balance

53.8

50.6

Allowances for Sales Incentive Discounts

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

Valuation Allowances and Reserves, Balance

254.0

^[1]

255.0

^[1]

236.6

^[1]

$ 165.2

Allowances for Sales Incentive Discounts | Accrued Expense

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

Valuation Allowances and Reserves, Balance

229.5

236.5

Allowances for Sales Incentive Discounts | Accounts Receivable

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

Valuation Allowances and Reserves, Balance

24.5

18.5

Allowance for Doubtful Accounts

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

Valuation Allowances and Reserves, Balance

29.3

32.1

$ 34.9

$ 38.1

Allowance for Doubtful Accounts | Accounts Receivable

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

Valuation Allowances and Reserves, Balance

$ 29.3

$ 32.1

[1]

Operations and Summary of Significant Accounting Policies - Inventories (Details) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Operations and Summary of Significant Accounting Policies [Abstract]
Inventory Valuation Reserves	$ 134.6	$ 126.5
Inventory, Net [Abstract]
Finished goods	523.1	616.6
Repair and replacement parts	515.4	536.4
Work in process	97.5	130.5
Raw materials	287.4	467.2
Inventories, net	$ 1,423.4	$ 1,750.7

Operations and Summary of Significant Accounting Policies - Property Plant and Equipment (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Property, Plant and Equipment [Abstract]
Gross property, plant and equipment	$ 2,829.9	$ 2,969.5
Accumulated depreciation and amortization	(1,482.8)	(1,439.1)
Property, plant and equipment, net	1,347.1	1,530.4
Land
Property, Plant and Equipment [Abstract]
Gross property, plant and equipment	105.7	113.6
Buildings and Improvements
Property, Plant and Equipment [Abstract]
Gross property, plant and equipment	637.4	688.4
Machinery and Equipment
Property, Plant and Equipment [Abstract]
Gross property, plant and equipment	1,966.8	2,039.9
Furniture and Fixtures
Property, Plant and Equipment [Abstract]
Gross property, plant and equipment	$ 120.0	$ 127.6
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, 2015 USD ($) country	Dec. 31, 2014 USD ($)	Dec. 31, 2013 USD ($)	Dec. 31, 2012 USD ($)	Dec. 31, 2006 USD ($)
Goodwill [Line Items]
Goodwill, Impaired, Accumulated Impairment Loss	$ 180.5
Impairment charge				$ (9.1)	$ (171.4)
Goodwill [Roll Forward]
Goodwill Beginning of Period	1,192.8	$ 1,178.7	$ 1,192.4
Goodwill acquired	22.2	89.6	7.3
Goodwill Adjustments Related To Income Taxes			(8.0)
Goodwill, Foreign Currency Translation	(100.5)	(75.5)	(13.0)
Goodwill End of Period	1,114.5	1,192.8	1,178.7	1,192.4
Amortization of intangibles	42.7	41.0	47.8
Future Amortization Expense
2016	42.1
2017	41.9
2018	41.9
2019	41.9
2020	$ 41.3
Number of countries where products sold (over) \| country	140
Finite-lived Intangible Assets [Roll Forward]
Finite-Lived Intangible Assets, Beginning Of Period	$ 741.0	725.3
Intangible assets acquired	9.6	46.3
Settlement of purchase consideration		(4.8)
Finite-Lived Intangible Assets, Foreign currency translation	(34.5)	(25.8)
Finite-Lived Intangible Assets, End Of Period	716.1	741.0	725.3
Finite-Lived Intangible Assets, Accumulated Amortization	293.7	276.2	253.4
Finite Lived Intangible Assets, Accumulated Amortization, Foreign Currency Translation	(25.2)	(18.2)
North America
Goodwill [Roll Forward]
Goodwill Beginning of Period	513.6	424.0	416.7
Goodwill acquired	5.1	89.6	7.3
Goodwill Adjustments Related To Income Taxes			0.0
Goodwill, Foreign Currency Translation	0.0	0.0	0.0
Goodwill End of Period	518.7	513.6	424.0	416.7
South America
Goodwill [Roll Forward]
Goodwill Beginning of Period	169.7	190.7	219.3
Goodwill acquired	0.0	0.0	0.0
Goodwill Adjustments Related To Income Taxes			0.0
Goodwill, Foreign Currency Translation	(55.3)	(21.0)	(28.6)
Goodwill End of Period	114.4	169.7	190.7	219.3
Europe/ Africa/ Middle East
Goodwill [Roll Forward]
Goodwill Beginning of Period	454.6	506.6	498.3
Goodwill acquired	9.3	0.0	0.0
Goodwill Adjustments Related To Income Taxes			(8.0)
Goodwill, Foreign Currency Translation	(38.7)	(52.0)	16.3
Goodwill End of Period	425.2	454.6	506.6	498.3
Asia/ Pacific
Goodwill [Roll Forward]
Goodwill Beginning of Period	54.9	57.4	58.1
Goodwill acquired	7.8	0.0	0.0
Goodwill Adjustments Related To Income Taxes			0.0
Goodwill, Foreign Currency Translation	(6.5)	(2.5)	(0.7)
Goodwill End of Period	$ 56.2	54.9	57.4	$ 58.1
Patents and Technology
Goodwill [Roll Forward]
Weighted average useful life	13 years
Amortization of intangibles	$ 3.9	3.2
Finite-lived Intangible Assets [Roll Forward]
Finite-Lived Intangible Assets, Beginning Of Period	94.0	89.1
Intangible assets acquired	3.6	11.3
Settlement of purchase consideration		0.0
Finite-Lived Intangible Assets, Foreign currency translation	(5.1)	(6.4)
Finite-Lived Intangible Assets, End Of Period	92.5	94.0	89.1
Finite-Lived Intangible Assets, Accumulated Amortization	55.1	56.1	59.0
Finite Lived Intangible Assets, Accumulated Amortization, Foreign Currency Translation	$ (4.9)	(6.1)
Customer relationships
Goodwill [Roll Forward]
Weighted average useful life	14 years
Amortization of intangibles	$ 32.0	31.4
Finite-lived Intangible Assets [Roll Forward]
Finite-Lived Intangible Assets, Beginning Of Period	513.8	502.7
Intangible assets acquired	4.1	28.0
Settlement of purchase consideration		0.0
Finite-Lived Intangible Assets, Foreign currency translation	(25.6)	(16.9)
Finite-Lived Intangible Assets, End Of Period	492.3	513.8	502.7
Finite-Lived Intangible Assets, Accumulated Amortization	193.8	180.8	160.7
Finite Lived Intangible Assets, Accumulated Amortization, Foreign Currency Translation	$ (19.0)	(11.3)
Trademarks and Trade Names
Goodwill [Roll Forward]
Weighted average useful life	20 years
Amortization of intangibles	$ 6.6	6.2
Finite-lived Intangible Assets [Roll Forward]
Finite-Lived Intangible Assets, Beginning Of Period	123.5	118.6
Intangible assets acquired	1.9	7.0
Settlement of purchase consideration		0.0
Finite-Lived Intangible Assets, Foreign currency translation	(3.2)	(2.1)
Finite-Lived Intangible Assets, End Of Period	122.2	123.5	118.6
Finite-Lived Intangible Assets, Accumulated Amortization	41.9	36.4	31.0
Finite Lived Intangible Assets, Accumulated Amortization, Foreign Currency Translation	$ (1.1)	(0.8)
Land Use Rights
Goodwill [Roll Forward]
Weighted average useful life	45 years
Amortization of intangibles	$ 0.2	0.2
Finite-lived Intangible Assets [Roll Forward]
Finite-Lived Intangible Assets, Beginning Of Period	9.7	14.9
Intangible assets acquired	0.0	0.0
Settlement of purchase consideration		(4.8)
Finite-Lived Intangible Assets, Foreign currency translation	(0.6)	(0.4)
Finite-Lived Intangible Assets, End Of Period	9.1	9.7	14.9
Finite-Lived Intangible Assets, Accumulated Amortization	2.9	2.9	2.7
Finite Lived Intangible Assets, Accumulated Amortization, Foreign Currency Translation	(0.2)	0.0
Trademarks and Trade Names
Indefinite-lived Intangible Assets [Roll Forward]
Indefinite-lived Intangible Assets, Beginning Of Period	89.0	93.7
Indefinite-lived Intangible Assets, Foreign Currency Translation	(3.7)	(4.7)
Indefinite-lived Intangible Assets, End Of Period	$ 85.3	$ 89.0	$ 93.7
Massey Ferguson
Future Amortization Expense
Number of countries where products sold (over) \| country	140
Valtra Brand
Future Amortization Expense
Number of countries where products sold (over) \| country	50
Minimum
Goodwill [Roll Forward]
Finite-Lived Intangible Asset, Useful Life Range	5 years
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, 2015	Dec. 31, 2014	Dec. 31, 2013
Operations and Summary of Significant Accounting Policies [Abstract]
Reserve for volume discounts and sales incentives	$ 443.3	$ 465.2
Warranty Reserves	195.2	245.7
Accrued Employee Benefits, Including Pension	213.7	232.8
Accrued taxes	87.3	108.4
Other	167.4	192.0
Accrued Expenses	1,106.9	1,244.1
Movement in Standard Product Warranty Accrual [Roll Forward]
Warranty reserves, beginning of period	284.6	294.9	$ 256.9
Product Warranty Accrual, Acquisitions	0.2	0.5	0.0
Product Warranty Accrual, Accruals for warranties issued during the year	152.6	214.1	200.3
Product Warranty Accrual, Settlements made (in cash or in kind) during the year	(186.2)	(205.5)	(165.7)
Product Warranty Accrual, Foreign Currency Translation	(20.9)	(19.4)	3.4
Warranty reserves, end of period	$ 230.3	284.6	$ 294.9
Standard Product Warranty Period Minimum	1 year
Standard Product Warranty Period Maximum	4 years
Standard Product Warranty Accrual, Noncurrent	$ 35.1	$ 38.9

Operations and Summary of Significant Accounting Policies - Stock Compensation Allocation (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Allocated Share-based Compensation Expense	$ 12.5	$ (10.6)	$ 34.9
Cost of Goods Sold
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Allocated Share-based Compensation Expense	0.9	(0.9)	2.3
Selling, General and Administrative Expenses
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Allocated Share-based Compensation Expense	$ 11.6	$ (9.7)	$ 32.6

Operations and Summary of Significant Accounting Policies - Expenses (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Advertising Expense	$ 50.9	$ 59.8	$ 60.5
Interest Income (Expense), Net [Abstract]
Interest expense	64.1	71.9	78.8
Interest Income	(18.7)	(13.5)	(20.8)
Interest Expense, Net	45.4	58.4	58.0
Selling, General and Administrative Expenses
Shipping and Handling Costs	$ 26.6	$ 29.2	$ 29.3

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, 2015	Dec. 31, 2014	Dec. 31, 2013
Earnings Per Share, Basic [Abstract]
Net income (loss) attributable to parent	$ 266.4	$ 410.4	$ 597.2
Weighted Average Number of Common Shares Outstanding, Basic	87.0	93.4	97.3
Basic net income per share attributable to AGCO Corporation and subsidiaries	$ 3.06	$ 4.39	$ 6.14
Diluted net income per share:
Dilutive stock options, SSARs, performance share awards and restricted stock units	0.1	0.3	0.8
Weighted average assumed conversion of contingently convertible senior subordinated notes	0.0	0.5	1.3
Weighted average number of common shares and common share equivalents outstanding for purposes of computing diluted income per share	87.1	94.2	99.4
Diluted net income per share attributable to AGCO and subsidiaries	$ 3.06	$ 4.36	$ 6.01
Stock Appreciation Rights (SARs)
Diluted net income per share:
Antidilutive securities excluded from computation of earnings per share, amount	1.2	1.0	0.8

Operations and Summary of Significant Accounting Policies - Comprehensive Income (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Net gain (loss) on derivatives, after tax	$ (1.9)	$ 0.1	$ (0.9)
Net changes in fair value of derivatives	(4.6)	(1.4)	(1.4)
Foreign currency translation adjustment, after tax	(558.2)	(349.3)	(87.2)
Other comprehensive loss, net of reclassification adjustments	(555.8)	(396.1)	(31.6)
Parent
Defined benefit pension plans, before Tax	4.9	(62.1)	75.8
Defined benefit pension plans, tax	(0.6)	15.2	(19.3)
Defined benefit pension plans, after tax	4.3	(46.9)	56.5
Net gain (loss) on derivatives, before tax	(3.1)	0.1	(1.4)
Net gain (loss) on derivatives, tax	1.2	0.0	0.5
Net gain (loss) on derivatives, after tax	(1.9)	0.1	(0.9)
Foreign currency translation adjustment, before tax	(556.1)	(349.0)	(86.9)
Foreign currency translation adjustment, tax	0.0	0.0	0.0
Foreign currency translation adjustment, after tax	(556.1)	(349.0)	(86.9)
Total components of other comprehensive income (Loss), before tax	(554.3)	(411.0)	(12.5)
Total components of other comprehensive income (Loss), tax	0.6	15.2	(18.8)
Other comprehensive loss, net of reclassification adjustments	(553.7)	(395.8)	(31.3)
Noncontrolling Interests
Defined benefit pension plans, after tax	0.0	0.0	0.0
Net changes in fair value of derivatives	0.0	0.0	0.0
Foreign currency translation adjustment, after tax	(2.1)	(0.3)	(0.3)
Other comprehensive loss, net of reclassification adjustments	$ (2.1)	$ (0.3)	$ (0.3)

Acquisitions (Narrative) (Details) BRL in Millions, $ in Millions					12 Months Ended
	Apr. 17, 2015 USD ($)	Sep. 11, 2014 USD ($)	Sep. 11, 2014 BRL	Aug. 01, 2014 USD ($)	Dec. 31, 2015 USD ($)	Dec. 31, 2014 USD ($)	Dec. 31, 2013 USD ($)
Purchase of businesses, net of cash acquired					$ 25.4	$ 130.3	$ 9.5
Intangible assets acquired					9.6	46.3
Goodwill acquired					$ 22.2	$ 89.6	$ 7.3
Farmer Automatic
Purchase of businesses, net of cash acquired	$ 17.9
Cash acquired, net	0.1
Intangible assets acquired	9.6
Goodwill acquired	$ 10.0
Santal
Company acquired, percent		39.00%	39.00%
Payments to acquire additional interest in subsidiaries		$ 3.7	BRL 9.0
Intersystems Holdings, Inc.
Purchase of businesses, net of cash acquired				$ 134.4
Cash acquired, net				4.1
Intangible assets acquired				46.3
Goodwill acquired				89.6
Payments to acquire businesses				$ 130.3

Acquisitions (Schedule Of Acquired Other Identifiable Intangible Assets) (Details) - USD ($) $ in Millions			12 Months Ended
	Apr. 17, 2015	Aug. 01, 2014	Dec. 31, 2015	Dec. 31, 2014
Intangible assets acquired			$ 9.6	$ 46.3
Customer relationships
Intangible assets acquired			$ 4.1	$ 28.0
Weighted average useful life			14 years
Farmer Automatic
Intangible assets acquired	$ 9.6
Farmer Automatic \| Customer relationships
Intangible assets acquired	$ 4.1
Weighted average useful life	10 years
Farmer Automatic \| Technology
Intangible assets acquired	$ 3.6
Weighted average useful life	10 years
Farmer Automatic \| Trademarks
Intangible assets acquired	$ 1.9
Weighted average useful life	10 years
Intersystems Holdings, Inc.
Intangible assets acquired		$ 46.3
Intersystems Holdings, Inc. \| Customer relationships
Intangible assets acquired		$ 28.0
Weighted average useful life		15 years
Intersystems Holdings, Inc. \| Technology
Intangible assets acquired		$ 11.3
Weighted average useful life		15 years
Intersystems Holdings, Inc. \| Trademarks
Intangible assets acquired		$ 7.0
Weighted average useful life		16 years

Restructuring and Other Infrequent Expenses (Details) $ in Millions	12 Months Ended			24 Months Ended
	Dec. 31, 2015 USD ($)	Dec. 31, 2014 USD ($)	Dec. 31, 2013 USD ($)	Dec. 31, 2015 USD ($) employees
Restructuring Cost and Reserve [Line Items]
Reduction to workforce \| employees				2,100
Restructuring and other infrequent expenses	$ 22.3	$ 46.4	$ 0.0
Payments for restructuring	29.5	19.0
Restructuring reserve	16.9	25.4		$ 16.9
Foreign currency translation impacts to be paid in 2016	$ 1.3
Employee Severance
Restructuring Cost and Reserve [Line Items]
Restructuring and other infrequent expenses		$ 44.4

Accounts Receivable Sales Agreements (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Resale Agreement Counterparty [Line Items]
Ownership percentage	49.00%
Loss on sales of receivables	$ 18.8	$ 24.8	$ 25.6
Outstanding funding received from receivable securitization	17.7	43.3
United States, Canada and Europe
Resale Agreement Counterparty [Line Items]
Cash received from receivables sold	$ 1,100.0	$ 1,200.0

Investments in Affiliates (Details) - USD ($) $ in Millions	12 Months Ended
Investments in Affiliates (Details) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Schedule of Equity Method Investments [Line Items]
Investment in affiliates	$ 392.9	$ 424.1	$ 416.1
Equity in net earnings of affiliates	57.1	52.9	48.2
Equity Method Investment, Summarized Financial Information [Abstract]
Total assets	7,491.2	8,836.4
Total liabilities	6,757.8	8,042.9
Partners’ equity	733.4	793.5
Equity Method Investment, Summarized Financial Information, Income Statement [Abstract]
Revenues	313.0	383.4	389.2
Costs	158.1	234.7	239.4
Income before income taxes	154.9	148.7	149.8
Receivables from affiliates	70.1	108.4	124.3
Undistributed earnings	296.8	293.3
Finance joint ventures
Schedule of Equity Method Investments [Line Items]
Investment in affiliates	359.4	389.0
Equity in net earnings of affiliates	53.8	48.8	48.8
Manufacturing joint ventures
Schedule of Equity Method Investments [Line Items]
Investment in affiliates	18.1	19.6
Other affiliates
Schedule of Equity Method Investments [Line Items]
Investment in affiliates	15.4	15.5
Manufacturing and other joint ventures
Schedule of Equity Method Investments [Line Items]
Equity in net earnings of affiliates	$ 3.3	$ 4.1	$ (0.6)

Income Taxes (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
Income Taxes (Narrative) (Details) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Taxes [Line Items]
Undistributed earnings of foreign subsidiaries	$ 2,300.0
Federal statutory income tax rate	35.00%	35.00%	35.00%
Deferred tax assets	$ 14.3	$ 4.2
Valuation allowance	75.8	93.3
Net operating loss carryforwards	266.1
Net operating loss carryforwards not subject to expiration	182.6
Income taxes paid	97.6	223.6	$ 174.5
Unrecognized income tax benefits that would affect effective tax rate	133.0	130.6
Accrued or deferred taxes relating to uncertain income tax positions	61.2	64.7
Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued on Provision	5.1	2.3
Accrued interest and penalties relating to unrecognized tax benefits	18.3	$ 15.3
Foreign
Income Taxes [Line Items]
Net operating loss carryforwards	266.1
2016
Income Taxes [Line Items]
Net operating loss carryforwards, by expiration date	13.0
2017
Income Taxes [Line Items]
Net operating loss carryforwards, by expiration date	30.7
2018
Income Taxes [Line Items]
Net operating loss carryforwards, by expiration date	$ 39.8

Income Taxes (Schedule of Income before Income Tax, Domestic and Foreign) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Sources of income (loss) before income taxes and equity in net earnings of affiliates
United States	$ (49.1)	$ 63.5	$ 133.1
Foreign	328.5	475.5	669.5
Income before income taxes and equity in net earnings of affiliates	$ 279.4	$ 539.0	$ 802.6

Income Taxes (Schedule of Components of Income Tax Expense (Benefit)) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Current:
Federal	$ (1.3)	$ 12.6	$ 9.2
State	2.8	2.8	9.9
Foreign	97.8	168.7	217.7
Current income tax expense (benefit)	99.3	184.1	236.8
Deferred:
Federal	(19.0)	(0.4)	30.2
State	0.0	0.0	0.0
Foreign	(7.8)	4.0	(8.5)
Deferred income tax expense (benefit)	(26.8)	3.6	21.7
Income tax provision	$ 72.5	$ 187.7	$ 258.5

Income Taxes (Schedule of Effective Income Tax Rate Reconciliation) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation [Abstract]
Provision for income taxes at United States federal statutory rate of 35%	$ 97.8	$ 188.7	$ 280.9
State and local income taxes, net of federal income tax effects	(2.0)	2.6	5.6
Taxes on foreign income which differ from the United States statutory rate	(34.9)	(33.4)	(34.7)
Tax effect of permanent differences	7.1	(10.3)	(7.6)
Change in valuation allowance	(4.5)	22.8	9.3
Change in tax contingency reserves	15.4	25.2	25.7
Research and development tax credits	(4.9)	(7.1)	(19.9)
Other	(1.5)	(0.8)	(0.8)
Income tax provision	$ 72.5	$ 187.7	$ 258.5

Income Taxes (Schedule of Deferred Tax Assets and Liabilities) (Details) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Deferred Tax Assets:
Net operating loss carryforwards	$ 74.0	$ 75.7
Sales incentive discounts	86.6	85.5
Inventory valuation reserves	40.3	33.9
Pensions and postretirement health care benefits	63.4	76.7
Warranty and other reserves	82.3	104.8
Research and development tax credits	9.3	0.0
Other	34.1	53.4
Total gross deferred tax assets	390.0	430.0
Valuation allowance	(75.8)	(93.3)
Total net deferred tax assets	314.2	336.7
Deferred Tax Liabilities:
Tax over book depreciation and amortization	275.1	311.0
Other	24.8	21.5
Total deferred tax liabilities	299.9	332.5
Net deferred tax assets	14.3	4.2
Amounts recognized in Consolidated Balance Sheets:
Deferred tax assets - noncurrent	100.7	215.9
Deferred tax liabilities - noncurrent	(86.4)	(211.7)
Net deferred tax assets	$ 14.3	$ 4.2

Income Taxes (Summary of Income Tax Contingencies) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Gross unrecognized tax benefits:
Gross unrecognized income tax benefits, beginning of period	$ 130.6	$ 122.2
Additions for tax positions of the current year	14.4	21.8
Additions for tax positions of prior years	7.1	11.0
Additions for tax positions related to acquisitions	0.0	(0.6)
Reductions for tax positions of prior years for:
Changes in judgments	(0.3)	(2.2)
Settlements during the period	0.0	(1.9)
Lapses of applicable statute of limitations	(5.8)	(5.4)
Foreign currency translation	(13.0)	(14.3)
Gross unrecognized income tax benefits, end of period	$ 133.0	$ 130.6

Indebtedness (Narrative) (Details)	12 Months Ended
Indebtedness (Narrative) (Details)	Dec. 31, 2015 USD ($)	Dec. 31, 2014 USD ($) shares	Dec. 31, 2013 USD ($) shares	Dec. 31, 2015 EUR (€)	Aug. 31, 2015 USD ($)
Debt Instrument [Line Items]
Interest Paid	$ 63,000,000	$ 68,400,000	$ 66,400,000
Long-term debt	297,400,000
Repayments of convertible debt	0	201,200,000	0
Outstanding letters of credit	17,500,000	18,500,000
4 1/2% Senior term loan due 2016
Debt Instrument [Line Items]
Senior Notes	$ 217,200,000	$ 242,000,000		€ 200,000,000.0
Debt Interest Rate	4.50%	4.50%		4.50%
Line of Credit
Debt Instrument [Line Items]
Long-term line of credit	$ 338,900,000	$ 404,400,000
Remaining borrowing capacity		750,600,000
1.056% Senior Term Loan
Debt Instrument [Line Items]
Senior Notes	$ 217,200,000	$ 0		€ 200,000,000.0
Unused borrowing capacity \| €				€ 200,000,000.0
Debt Interest Rate	1.056%	1.056%		1.056%
5 7/8% Senior Notes due 2021
Debt Instrument [Line Items]
Senior Notes	$ 297,400,000	$ 300,000,000
Debt Interest Rate	5.875%	5.875%		5.875%
Long-term debt	$ 297,400,000	$ 337,600,000
Debt, weighted average interest rate	4.53%			4.53%
5 7/8% Senior Notes due 2021 \| Interest Accrual, Option Two
Debt Instrument [Line Items]
Variable rate	0.50%
1 1/4percent Convertible Senior Subordinated Notes Due December 15, 2036
Debt Instrument [Line Items]
Debt Interest Rate	1.25%	1.25%		1.25%
Debt repurchased		$ 49,700,000
Convertible notes converted		151,500,000	100,000
Excess conversion value of the notes		$ 81,000,000	$ 100,000
Conversion of 1 1/4% convertible senior subordinated notes, shares issued \| shares		1,437,465	286
Repayments of convertible debt		$ 201,200,000
Amended and Restated Credit Facility Agreement \| Line of Credit \| Interest Accrual, Option Two
Debt Instrument [Line Items]
Variable rate	0.50%
Amended and Restated Credit Facility Agreement \| Line of Credit \| Interest Accrual, Option Three
Debt Instrument [Line Items]
Variable rate	1.00%
Amended and Restated Credit Facility Agreement \| Line of Credit \| Minimum \| Interest Accrual, Option One
Debt Instrument [Line Items]
Variable rate	1.00%
Amended and Restated Credit Facility Agreement \| Line of Credit \| Maximum \| Interest Accrual, Option One
Debt Instrument [Line Items]
Variable rate	1.75%
Amended and Restated Credit Facility Agreement \| Variable Basis, Additional Margin \| Line of Credit \| Minimum \| Interest Accrual, Option Three
Debt Instrument [Line Items]
Variable rate	0.00%
Amended and Restated Credit Facility Agreement \| Variable Basis, Additional Margin \| Line of Credit \| Maximum \| Interest Accrual, Option Three
Debt Instrument [Line Items]
Variable rate	0.25%
Prior Credit Facility Agreement \| Line of Credit \| Interest Accrual, Option Two
Debt Instrument [Line Items]
Variable rate	0.50%
Prior Credit Facility Agreement \| Line of Credit \| Interest Accrual, Option Three
Debt Instrument [Line Items]
Variable rate	1.00%
Prior Credit Facility Agreement \| Line of Credit \| Minimum \| Interest Accrual, Option One
Debt Instrument [Line Items]
Variable rate	1.00%
Prior Credit Facility Agreement \| Line of Credit \| Maximum \| Interest Accrual, Option One
Debt Instrument [Line Items]
Variable rate	2.00%
Prior Credit Facility Agreement \| Variable Basis, Additional Margin \| Line of Credit \| Minimum \| Interest Accrual, Option Three
Debt Instrument [Line Items]
Variable rate	0.00%
Prior Credit Facility Agreement \| Variable Basis, Additional Margin \| Line of Credit \| Maximum \| Interest Accrual, Option Three
Debt Instrument [Line Items]
Variable rate	0.50%
Term Loan Facility \| Line of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 338,900,000			€ 312,000,000
Fair value of amount outstanding		355,000,000			$ 355,000,000
Revolving Credit Facility \| Line of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity	800,000,000
Fair value of amount outstanding		$ 49,400,000
Long-term line of credit	0
Remaining borrowing capacity	$ 800,000,000
Cash Flow Hedging \| Interest Rate Swap \| Designated as Hedging Instrument
Debt Instrument [Line Items]
Derivative, fixed interest rate	0.33%			0.33%

Indebtedness (Components Of Indebtedness) (Details) $ in Millions	Dec. 31, 2015 USD ($)	Dec. 31, 2015 EUR (€)	Dec. 31, 2014 USD ($)
Debt Instrument [Line Items]
Other long-term debt	$ 164.3		$ 145.5
Total indebtedness	1,235.0		1,091.9
Less: Current portion of long-term debt	(89.0)		(94.3)
Total indebtedness, less current portion	928.8		997.6
4 1/2% Senior term loan due 2016
Debt Instrument [Line Items]
Senior Notes	217.2	€ 200,000,000.0	242.0
Less: Current portion of long-term debt	(217.2)		0.0
1.056% Senior Term Loan
Debt Instrument [Line Items]
Senior Notes	217.2	€ 200,000,000.0	0.0
5 7/8% Senior Notes due 2021
Debt Instrument [Line Items]
Senior Notes	$ 297.4		$ 300.0

Indebtedness (Maturities of Long-term Debt) (Details) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Aggregate scheduled maturities of long-term debt, excluding current maturities
2017	$ 33.2
2018	20.0
2019	7.6
2020	570.6
Thereafter	297.4
Total indebtedness, less current portion	$ 928.8	$ 997.6

Employee Benefit Plans (Narrative) (Details) - USD ($)
$ in Millions

12 Months Ended

Dec. 31, 2016

Dec. 31, 2015

Dec. 31, 2014

Dec. 31, 2013

Unrecognized net actuarial losses

$ 336.6

$ 341.5

$ 279.4

Reduction in equity

$ (249.0)

(253.3)

(206.4)

Percentage of joint venture's unrecognized net actuarial losses and unrecognized prior service cost

49.00%

Defined benefit plan, target allocation percentage of assets, near-term benefit payments

30.00%

Defined benefit plan, target allocation percentage of assets, long-term growth

70.00%

Company contributions

$ 12.0

13.3

13.0

Minimum

Percentage of joint venture's unrecognized net actuarial losses and unrecognized prior service cost

20.00%

GIMA

Unrecognized net actuarial losses

1.6

Reduction in equity

$ 1.4

Tax effect of benefit plans

$ 0.5

$ 0.6

Percentage of joint venture's unrecognized net actuarial losses and unrecognized prior service cost

50.00%

Net loss recognized due to settlement

$ 0.1

$ 0.2

Pension and Other Postretirement Benefit Plans [Member]

Unrecognized net actuarial losses

335.2

339.9

Aggregate projected benefit obligation

869.2

956.4

Accumulated benefit obligation

816.9

901.7

Fair value of plan assets

627.9

677.2

Tax effect of benefit plans

87.1

87.6

Pension Benefits

Unrecognized net actuarial losses

319.0

329.7

Net prior service (credit) cost

11.2

3.2

Net loss recognized due to settlement

$ 0.2

$ 0.4

^[1]

$ 0.1

Weighted average discount rate

3.60%

3.50%

Benefit payments in 2016

$ 48.0

Benefit payments made to defined benefit pension plans and ENPP

51.3

Benefit payments made

$ 50.8

$ 55.9

Weighted average expected long-term rate of return on plan assets

6.80%

6.90%

6.80%

U.S. Based Pension Benefit Plans

Aggregate projected benefit obligation

$ 112.2

$ 102.9

Accumulated benefit obligation

98.4

90.2

Fair value of plan assets

$ 38.1

$ 41.5

Weighted average discount rate

4.60%

4.15%

Expected minimum contribution

$ 1.1

Defined benefit plan, target allocation percentage of assets, near-term benefit payments

15.00%

Defined benefit plan, target allocation percentage of assets, 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

6.00%

7.00%

Non-U.S. Pension Benefit Plans

Expected minimum contribution

$ 31.5

Defined benefit plan, historical average return on asset mix

7.25%

U.K. Pension Plans, Defined Benefit

Expected minimum contribution

$ 23.1

Weighted average expected long-term rate of return on plan assets

7.00%

ENPP

Minimum age for vesting

50 years

Minimum participation period to qualify for payment

10 years

Minimum service period to vest

5 years

Minimum age to receive benefits

65 years

Period over which retirement benefits are paid

15 years

Period considered when determining retirement benefits

3 years

Minimum service period

20 years

Final years of service

10 years

ENPP | Minimum

Benefits paid to executives, percent

2.25%

ENPP | Maximum

Benefits paid to executives, percent

3.00%

Postretirement Benefits

Unrecognized net actuarial losses

$ 1.4

$ 3.3

Net prior service (credit) cost

$ 3.6

$ 3.7

Weighted average discount rate

5.10%

4.60%

Benefit payments in 2016

$ 1.5

Benefit payments made

$ 1.2

$ 1.6

Brazilian Postretirement Benefit Obligation, Defined Benefit

Health care cost trend rate assumed

12.60%

12.25%

Ultimate health care cost trend rate

6.75%

6.45%

Benefit payments in 2016

$ 0.1

U.S Based Postretirement Health Care and Life Insurance Benefit Plans

Health care cost trend rate assumed

7.25%

7.00%

Ultimate health care cost trend rate

5.00%

Benefit payments in 2016

$ 1.5

Forecast | Pension Benefits

Net actuarial (gain) loss that will be amortized from accumulated other comprehensive loss

$ 10.7

Net prior service (credit) cost that will be amortized from accumulated other comprehensive loss

(1.1)

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

$ (0.1)

Large and small cap domestic equity securities | U.S. Based Pension Benefit Plans

Defined benefit plan, target plan asset allocations

30.00%

International Equity Securities | U.S. Based Pension Benefit Plans

Defined benefit plan, target plan asset allocations

12.00%

Fixed Income Securities | U.S. Based Pension Benefit Plans

Defined benefit plan, target plan asset allocations

44.00%

Alternative Investments

Defined benefit plan, target plan asset allocations

20.00%

Alternative Investments | U.S. Based Pension Benefit Plans

Defined benefit plan, target plan asset allocations

14.00%

Equity Securities

Defined benefit plan, target plan asset allocations

45.00%

Fixed Income Investments

Defined benefit plan, target plan asset allocations

35.00%

[1]	Rounding may impact summation of amounts.

Employee Benefit Plans (Net Pension And Postretirement Cost) (Details) - USD ($)
$ in Millions

12 Months Ended

Dec. 31, 2015

Dec. 31, 2014

Dec. 31, 2013

Pension Benefits

Service cost

$ 18.7

$ 16.8

^[1]

$ 18.0

Interest cost

31.2

37.3

^[1]

35.4

Expected return on plan assets

(44.4)

(44.5)

^[1]

(37.6)

Amortization of net actuarial losses

8.0

9.5

^[1]

14.0

Amortization of prior service cost

0.4

0.8

^[1]

0.8

Net loss recognized due to settlement

0.2

0.4

^[1]

0.1

Net gain recognized due to curtailment

0.0

(0.5)

^[1]

0.0

Special termination benefits

0.5

1.3

^[1]

0.0

Net annual pension cost

$ 14.6

$ 21.0

^[1]

$ 30.7

Weighted average discount rate

3.50%

4.40%

4.30%

Postretirement Benefits

Service cost

$ 0.0

$ 0.1

Interest cost

1.3

1.6

1.7

Amortization of net actuarial losses

0.1

0.5

Amortization of prior service cost

0.2

Other

0.0

0.2

0.0

Net annual pension cost

$ 1.6

$ 2.2

$ 2.5

Weighted average discount rate

4.60%

5.30%

4.70%

[1]	Rounding may impact summation of amounts.

Employee Benefit Plans (Assumptions for Pension and Postretirement Cost) (Details)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Minimum
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Rate of increase in future compensation	2.25%	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	3.50%	4.40%	4.30%
Weighted average expected long-term rate of return on plan assets	6.80%	6.90%	6.80%
U.S. Based Pension Benefit Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Weighted average discount rate	4.15%	4.75%	3.85%
Weighted average expected long-term rate of return on plan assets	6.00%	7.00%	7.00%
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, 2015

Dec. 31, 2014

Dec. 31, 2013

Change in plan assets

Unrecognized net actuarial losses

$ 336.6

$ 341.5

$ 279.4

Amounts recognized in Consolidated Balance Sheets:

Pensions and postretirement health care benefits (noncurrent)

(233.9)

(269.0)

Pension Benefits

Change in benefit obligation

Benefit obligation, beginning of period

926.8

888.2

Service cost

18.7

16.8

^[1]

18.0

Interest cost

31.2

37.3

^[1]

35.4

Plan participants’ contributions

1.2

1.3

Actuarial (gains) losses

(41.7)

109.6

Amendments

8.3

0.0

Settlements

(0.5)

(4.2)

Curtailments

0.0

(7.3)

Benefits paid

(50.8)

(55.9)

Special termination benefits and other

0.5

1.3

Foreign currency exchange rate changes

(49.3)

(60.3)

Benefit obligation, end of period

844.4

926.8

888.2

Change in plan assets

Fair value of plan assets at beginning of year

677.2

660.7

Actual return on plan assets

5.2

73.7

Employer contributions

34.0

43.4

Plan participants’ contributions

1.2

1.3

Benefits paid

(50.8)

(55.9)

Settlements

(0.5)

(4.2)

Foreign currency exchange rate changes

(35.6)

(41.8)

Fair value of plan assets at end of year

630.7

677.2

660.7

Funded status

(213.7)

(249.6)

Unrecognized net actuarial losses

319.0

329.7

Unrecognized prior service cost

11.2

3.2

Accumulated other comprehensive loss

(330.2)

(332.9)

Net amount recognized

(213.7)

(249.6)

Amounts recognized in Consolidated Balance Sheets:

Other long-term asset

0.2

0.0

Other current liabilities

(3.5)

(3.3)

Accrued expenses

(2.3)

(5.4)

Pensions and postretirement health care benefits (noncurrent)

(208.1)

(240.9)

Postretirement Benefits

Change in benefit obligation

Benefit obligation, beginning of period

29.6

30.3

Service cost

0.0

0.1

Interest cost

1.3

1.6

1.7

Plan participants’ contributions

0.0

Actuarial (gains) losses

(1.7)

(0.7)

0.0

0.0

0.0

(1.2)

(1.6)

Special termination benefits and other

0.0

0.2

Foreign currency exchange rate changes

(0.7)

(0.3)

Benefit obligation, end of period

27.3

29.6

30.3

Change in plan assets

Fair value of plan assets at beginning of year

0.0

Actual return on plan assets

0.0

Employer contributions

1.2

1.6

Plan participants’ contributions

0.0

Benefits paid

(1.2)

(1.6)

Settlements

0.0

Foreign currency exchange rate changes

0.0

Fair value of plan assets at end of year

0.0

$ 0.0

Funded status

(27.3)

(29.6)

Unrecognized net actuarial losses

1.4

3.3

Unrecognized prior service cost

3.6

3.7

Accumulated other comprehensive loss

(5.0)

(7.0)

Net amount recognized

(27.3)

(29.6)

Amounts recognized in Consolidated Balance Sheets:

Other long-term asset

0.0

Other current liabilities

(1.5)

Accrued expenses

0.0

Pensions and postretirement health care benefits (noncurrent)

$ (25.8)

$ (28.1)

[1]	Rounding may impact summation of amounts.

Employee Benefit Plans (Net Periodic Pension Costs Included in Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Before-Tax Amount
Accumulated other comprehensive loss, before tax, beginning of period	$ (341.5)	$ (279.4)
Net loss recognized due to settlement, before tax	0.3	0.6
Net gain recognized due to curtailment, before tax		(0.5)
Net actuarial (loss) gain arising during the year, before tax	4.2	(72.8)
Amortization of prior service cost, before tax	0.6	1.0
Amortization of net actuarial losses	8.1	9.6
Prior service cost arising during the year, before tax	(8.3)
Accumulated other comprehensive loss, before tax, end of period	(336.6)	(341.5)	$ (279.4)
Income Tax
Accumulated other comprehensive loss, tax, beginning of period	(88.2)	(73.0)
Net loss recognized due to settlement, tax	0.1	0.2
Net gain recognized due to curtailment, tax		(0.1)
Net actuarial (loss) gain arising during the year, tax	2.1	(18.0)
Amortization of prior service costs, tax	0.2	0.4
Amortization of net actuarial losses, tax	1.8	2.3
Prior service cost arising during the year, tax	(3.6)
Accumulated other comprehensive loss, tax, end of period	(87.6)	(88.2)	(73.0)
After-Tax Amount
Accumulated other comprehensive loss, after tax, beginning of period	(253.3)	(206.4)
Net loss recognized due to settlement	0.2	0.4	0.0
Net gain recognized due to curtailment	0.0	(0.4)	0.0
Net actuarial (loss) gain arising during the year, after tax	2.1	(54.8)	45.2
Amortization of prior service costs, after tax	0.4	0.6	0.6
Amortization of net actuarial losses included in net periodic pension cost	6.3	7.3	10.7
Prior service cost arising during year	(4.7)	0.0	0.0
Accumulated other comprehensive loss, after tax, end of period	$ (249.0)	$ (253.3)	$ (206.4)

Employee Benefit Plans (Assumptions for Benefit Obligation) (Details)

Dec. 31, 2015

Dec. 31, 2014

Dec. 31, 2013

Pension Benefits

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

Weighted average discount rate

3.60%

3.50%

U.S. Based Pension Benefit Plans

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

Weighted average discount rate

4.60%

4.15%

Rate of increase in future compensation

^[1]

5.00%

Minimum

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

Rate of increase in future compensation

2.00%

2.50%

Maximum

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

Rate of increase in future compensation

5.00%

[1]	Applicable for U.S. unfunded, nonqualified plan.

Employee Benefit Plans (One Percentage Point Change in Health Care Trend Rate) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2015 USD ($)
Pension and Other Postretirement Benefit Expense [Abstract]
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	3.2
Effect on accumulated benefit obligation, One percentage point decrease	$ (2.7)

Employee Benefit Plans (Expected Future Minimum Payments) (Details) $ in Millions	Dec. 31, 2015 USD ($)
Pension Benefits
Aggregate expected benefit payments
2016	$ 48.0
2017	49.5
2018	50.2
2019	50.4
2020	51.5
2021 through 2025	279.5
Total	529.1
Postretirement Benefits
Aggregate expected benefit payments
2016	1.5
2017	1.6
2018	1.7
2019	1.7
2020	1.7
2021 through 2025	9.4
Total	$ 17.6

Employee Benefit Plans (Asset Allocation) (Details)	Dec. 31, 2015	Dec. 31, 2014
U.S. Based Pension Benefit Plans
Asset Category
Equity Securities	100.00%	100.00%
Non-U.S. Pension Benefit Plans
Asset Category
Equity Securities	100.00%	100.00%
Large and small cap domestic equity securities \| U.S. Based Pension Benefit Plans
Asset Category
Equity Securities	28.00%	28.00%
International Equity Securities \| U.S. Based Pension Benefit Plans
Asset Category
Equity Securities	10.00%	10.00%
Fixed Income Securities \| U.S. Based Pension Benefit Plans
Asset Category
Equity Securities	44.00%	42.00%
Fixed Income Securities \| Non-U.S. Pension Benefit Plans
Asset Category
Equity Securities	36.00%	38.00%
Equity Securities \| Non-U.S. Pension Benefit Plans
Asset Category
Equity Securities	44.00%	42.00%
Other Investments \| U.S. Based Pension Benefit Plans
Asset Category
Equity Securities	18.00%	20.00%
Other Investments \| Non-U.S. Pension Benefit Plans
Asset Category
Equity Securities	20.00%	20.00%

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

Dec. 31, 2015

Dec. 31, 2014

Dec. 31, 2013

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

Total assets

$ 630.7

$ 677.2

$ 660.7

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

45.00%

37.00%

Percentage of fixed income securities consisting of government treasuries

32.00%

39.00%

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

23.00%

24.00%

Percentage of alternative investments consisting of long-short equity funds

34.00%

Percentage of alternative investments consisting of event-driven funds

26.00%

31.00%

Percentage of alternative investments consisting of relative value funds

13.00%

12.00%

Percentage of alternative investments consisting of credit funds

13.00%

10.00%

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

12.00%

9.00%

Percentage of alternative investments consisting of multi-strategy funds

2.00%

4.00%

Level 1

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

Total assets

$ 490.0

$ 522.6

Level 2

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

Total assets

7.4

7.5

Level 3

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

Total assets

133.3

147.1

171.8

Equity Securities

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

Total assets

268.4

274.6

Equity Securities | Level 1

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

Total assets

268.4

274.6

Equity Securities | Level 2

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

Total assets

0.0

Equity Securities | Level 3

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

Total assets

0.0

Global Equities

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

Total assets

129.0

135.9

Global Equities | Level 1

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

Total assets

129.0

135.9

Global Equities | Level 2

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

Total assets

0.0

Global Equities | Level 3

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

Total assets

0.0

Non-U.S. Equities

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

Total assets

3.9

4.3

Non-U.S. Equities | Level 1

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

Total assets

3.9

4.3

Non-U.S. Equities | Level 2

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

Total assets

0.0

Non-U.S. Equities | Level 3

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

Total assets

0.0

U.K. Equities

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

Total assets

124.8

122.8

U.K. Equities | Level 1

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

Total assets

124.8

122.8

U.K. Equities | Level 2

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

Total assets

0.0

U.K. Equities | Level 3

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

Total assets

0.0

U.S. Large Cap Equities

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

Total assets

7.1

U.S. Large Cap Equities | Level 1

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

Total assets

7.1

U.S. Large Cap Equities | Level 2

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

Total assets

0.0

U.S. Large Cap Equities | Level 3

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

Total assets

0.0

U.S. Small Cap Equities

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

Total assets

3.6

4.5

U.S. Small Cap Equities | Level 1

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

Total assets

3.6

4.5

U.S. Small Cap Equities | Level 2

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

Total assets

0.0

U.S. Small Cap Equities | Level 3

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

Total assets

0.0

Fixed Income Securities

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

Total assets

221.6

^[1]

248.0

^[2]

Fixed Income Securities | Level 1

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

Total assets

221.6

^[1]

248.0

^[2]

Fixed Income Securities | Level 2

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

Total assets

0.0

^[1]

0.0

^[2]

Fixed Income Securities | Level 3

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

Total assets

0.0

^[1]

0.0

^[2]

Aggregate Fixed Income

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

Total assets

16.8

17.5

Aggregate Fixed Income | Level 1

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

Total assets

16.8

17.5

Aggregate Fixed Income | Level 2

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

Total assets

0.0

Aggregate Fixed Income | Level 3

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

Total assets

0.0

International Fixed Income

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

Total assets

204.8

230.5

International Fixed Income | Level 1

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

Total assets

204.8

230.5

International Fixed Income | Level 2

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

Total assets

0.0

International Fixed Income | Level 3

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

Total assets

0.0

Cash and Cash Equivalents

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

Total assets

7.4

7.5

Cash and Cash Equivalents | Level 1

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

Total assets

0.0

Cash and Cash Equivalents | Level 2

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

Total assets

7.4

7.5

Cash and Cash Equivalents | Level 3

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

Total assets

0.0

Cash

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

Total assets

7.4

7.5

Cash | Level 1

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

Total assets

0.0

Cash | Level 2

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

Total assets

7.4

7.5

Cash | Level 3

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

Total assets

0.0

Alternative Investments

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

Total assets

111.6

^[2]

124.3

^[3]

Alternative Investments | Level 1

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

Total assets

0.0

^[2]

0.0

^[3]

Alternative Investments | Level 2

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

Total assets

0.0

^[2]

0.0

^[3]

Alternative Investments | Level 3

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

Total assets

111.6

^[2]

124.3

^[3]

146.0

Miscellaneous Funds

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

Total assets

21.7

^[4]

22.8

^[5]

Miscellaneous Funds | Level 1

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

Total assets

0.0

^[4]

0.0

^[5]

Miscellaneous Funds | Level 2

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

Total assets

0.0

^[4]

0.0

^[5]

Miscellaneous Funds | Level 3

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

Total assets

$ 21.7

^[4]

$ 22.8

^[5]

$ 25.8

[1]	45% of “fixed income” securities are in investment-grade corporate bonds; 32% are in government treasuries; and 23% are in other various fixed income securities.
[2]	34% of “alternative investments” are in long-short equity funds; 26% are in event-driven funds; 13% are in relative value funds; 13% are in credit funds; 12% are distributed in hedged and non-hedged funds; and 2% are in multi-strategy funds.
[3]	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.
[4]	“Miscellaneous funds” is comprised of insurance contracts in Finland, Norway and Switzerland.
[5]	“Miscellaneous funds” is comprised of insurance 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, 2015

Dec. 31, 2014

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

Fair value of plan assets at beginning of year

$ 677.2

$ 660.7

Foreign currency exchange rate changes

(35.6)

(41.8)

Fair value of plan assets at end of year

630.7

677.2

Alternative Investments

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

Fair value of plan assets at beginning of year

^[1]

124.3

Fair value of plan assets at end of year

111.6

^[2]

124.3

^[1]

Miscellaneous Funds

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

Fair value of plan assets at beginning of year

^[3]

22.8

Fair value of plan assets at end of year

21.7

^[4]

22.8

^[3]

Level 3

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

Fair value of plan assets at beginning of year

147.1

171.8

Actual return on plan assets - relating to assets still held at reporting date

(0.6)

6.3

Actual return on plan assets - relating to assets sold during period

0.0

2.3

Purchases, sales and /or settlements

(4.5)

(22.6)

Foreign currency exchange rate changes

(8.7)

(10.7)

Fair value of plan assets at end of year

133.3

147.1

Level 3 | Alternative Investments

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

Fair value of plan assets at beginning of year

124.3

^[1]

146.0

Actual return on plan assets - relating to assets still held at reporting date

(2.2)

5.1

Actual return on plan assets - relating to assets sold during period

0.0

2.3

Purchases, sales and /or settlements

(4.3)

(21.7)

Foreign currency exchange rate changes

(6.2)

(7.4)

Fair value of plan assets at end of year

111.6

^[2]

124.3

^[1]

Level 3 | Miscellaneous Funds

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

Fair value of plan assets at beginning of year

22.8

^[3]

25.8

Actual return on plan assets - relating to assets still held at reporting date

1.6

1.2

Actual return on plan assets - relating to assets sold during period

0.0

Purchases, sales and /or settlements

(0.2)

(0.9)

Foreign currency exchange rate changes

(2.5)

(3.3)

Fair value of plan assets at end of year

$ 21.7

^[4]

$ 22.8

^[3]

[1]	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.
[2]	34% of “alternative investments” are in long-short equity funds; 26% are in event-driven funds; 13% are in relative value funds; 13% are in credit funds; 12% are distributed in hedged and non-hedged funds; and 2% are in multi-strategy funds.
[3]	“Miscellaneous funds” is comprised of insurance contracts in Finland, Norway and Switzerland
[4]	“Miscellaneous funds” is comprised of insurance contracts in Finland, Norway and Switzerland.

Stockholders' Equity (Narrative) (Details) - USD ($)	2 Months Ended	12 Months Ended
Stockholders' Equity (Narrative) (Details) - USD ($)	Feb. 26, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Jan. 28, 2016
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		83,814,809	89,146,093
Shares available for grant		4,311,886
Authorized amount		$ 287,500,000	$ 499,700,000	$ 1,000,000
Remaining authorized repurchase amount		$ 244,200,000
Common stock, quarterly dividends paid (in dollars per share)		$ 0.12	$ 0.11	$ 0.10
July 2012 Share Repurchase Program
Accelerated Share Repurchases [Line Items]
Authorized amount (in shares)		$ 50,000,000.0
December 2013 ASR Program
Accelerated Share Repurchases [Line Items]
Authorized amount (in shares)				$ 500,000,000
December 2014 ASR Program
Accelerated Share Repurchases [Line Items]
Authorized amount (in shares)			$ 500,000,000
Accelerated Share Repurchase
Accelerated Share Repurchases [Line Items]
Authorized amount		$ 287,500,000	$ 415,000,000
Purchases and retirement of common stock, shares		5,541,930	8,248,183
Open Market Transaction
Accelerated Share Repurchases [Line Items]
Authorized amount			$ 84,700,000	$ 1,000,000
Purchases and retirement of common stock, shares			1,818,139	100,000.0
Purchases and retirement of common stock, average price (in dollars per share)			$ 46.60	$ 49.34
Subsequent Event
Accelerated Share Repurchases [Line Items]
Common stock, quarterly dividends declared (in dollars per share)					$ 0.13
Subsequent Event \| Accelerated Share Repurchase
Accelerated Share Repurchases [Line Items]
Authorized amount	$ 60,000,000
Purchases and retirement of common stock, shares	974,619

Stockholders' Equity Changes in Accumulated Other Comprehensive Income (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Accumulated other comprehensive loss, beginning of period	$ (906.5)	$ (510.7)
Other comprehensive loss before reclassifications	(563.1)	(405.2)
Net losses reclassified from accumulated other comprehensive loss	9.4	9.4
Other comprehensive income (loss), net of reclassification adjustments	(553.7)	(395.8)
Accumulated other comprehensive loss, end of period	(1,460.2)	(906.5)
Defined Benefit Pension Plans
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Accumulated other comprehensive loss, beginning of period	(253.3)	(206.4)
Other comprehensive loss before reclassifications	(2.4)	(54.8)
Net losses reclassified from accumulated other comprehensive loss	6.7	7.9
Other comprehensive income (loss), net of reclassification adjustments	4.3	(46.9)
Accumulated other comprehensive loss, end of period	(249.0)	(253.3)
Cumulative Translation Adjustment
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Accumulated other comprehensive loss, beginning of period	(653.1)	(304.1)
Other comprehensive loss before reclassifications	(556.1)	(349.0)
Net losses reclassified from accumulated other comprehensive loss	0.0	0.0
Other comprehensive income (loss), net of reclassification adjustments	(556.1)	(349.0)
Accumulated other comprehensive loss, end of period	(1,209.2)	(653.1)
Deferred Net Gains (Losses) on Derivatives
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Accumulated other comprehensive loss, beginning of period	(0.1)	(0.2)
Other comprehensive loss before reclassifications	(4.6)	(1.4)
Net losses reclassified from accumulated other comprehensive loss	2.7	1.5
Other comprehensive income (loss), net of reclassification adjustments	(1.9)	0.1
Accumulated other comprehensive loss, end of period	$ (2.0)	$ (0.1)

- Definition

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, 2015

Dec. 31, 2014

Dec. 31, 2013

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

Cost of goods sold

$ 5,906.7

$ 7,657.4

$ 8,396.3

Interest expense, net

45.4

58.4

58.0

Income before income taxes and equity in net earnings of affiliates

(279.4)

(539.0)

(802.6)

Income tax provision

72.5

187.7

258.5

Net income attributable to AGCO Corporation and subsidiaries

(266.4)

(410.4)

$ (597.2)

Amortization of net actuarial losses

(8.1)

(9.6)

Amortization of prior service cost

(0.6)

(1.0)

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

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

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

Cost of goods sold

^[1]

2.6

1.4

Interest expense, net

^[1]

0.5

0.0

Income before income taxes and equity in net earnings of affiliates

^[1]

3.1

1.4

Income tax provision

^[1]

(0.4)

0.1

Net income attributable to AGCO Corporation and subsidiaries

^[1]

2.7

1.5

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

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

Income before income taxes and equity in net earnings of affiliates

^[1]

8.7

10.6

Income tax provision

^[1]

(2.0)

(2.7)

Net income attributable to AGCO Corporation and subsidiaries

^[1]

6.7

7.9

Amortization of net actuarial losses

^[1],[2]

8.1

9.6

Amortization of prior service cost

^[1],[2]

$ 0.6

$ 1.0

[1]	Losses included within the Consolidated Statements of Operations for the years ended December 31, 2015 and 2014, 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. 26, 2016	Apr. 23, 2015	Apr. 23, 2014	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Common stock, shares issuable				150,000,000	150,000,000	150,000,000
Compensation cost related to unearned performance awards					$ 10.1
Recognition period					2 years
Stock compensation expense					$ 12.5	$ (10.6)	$ 34.9
Excess tax benefit of stock awards					$ 0.7		$ 11.4
Shortfall in tax benefit of stock awards						$ 0.2
Shares available for grant					4,311,886
Long Term Incentive Plan \| Minimum
Target award percentages					33.00%
Long Term Incentive Plan \| Maximum
Target award percentages					200.00%
Performance Shares
Shares awarded					861,686
Weighted average grant-date fair value of performance awards granted					$ 45.54	$ 53.87	$ 51.51
Number of shares not vested				2,481,767	1,449,396	2,481,767
Shares earned					0	286,804
Shares issued subsequent to year-end					0	173,470
Performance Shares \| Subsequent Event
Shares awarded	334,199
Restricted Stock Units (RSUs)
Performance period					3 years
Shares awarded					144,398
Compensation cost related to unearned performance awards					$ 4.2
Recognition period					2 years
Weighted average grant-date fair value of performance awards granted					$ 44.03
Number of shares not vested				0	137,396	0
Shares earned					0
Restricted Stock Units (RSUs) \| Subsequent Event
Shares awarded	138,975
Stock Appreciation Rights (SARs)
Vesting period					4 years
Compensation cost related to unearned performance awards					$ 5.9
Recognition period					2 years
Weighted average grant-date fair value of performance awards granted					$ 7.41	$ 13.11	$ 21.10
SSAR Expiration Period					7 years
Stock compensation expense					$ 5.0	$ 5.2	$ 4.7
Weighted average remaining contractual life of SSARs outstanding, in years					4 years
Total fair value of SSARs vested					$ 4.2
Number of shares not vested					709,771
Total intrinsic value of outstanding SSARs					$ 1.8
Total intrinsic value of exercisable of SSARs					1.3
Total intrinsic value of SSARs exercised					$ 1.8
SSARs granted					325,200
Stock Appreciation Rights (SARs) \| Subsequent Event
SSARs granted	296,200
Restricted Stock
Shares awarded		22,095
Stock compensation expense					$ 1.1
Weighted-average period for compensation cost expected to be recognized, in years			3 years	1 year
Restricted common stocks issued		15,711
Long Term Incentive Plan
Performance period					3 years
2006 Plan
Common stock, shares issuable					10,000,000.0

Stock Incentive Plan (Performance Award Transactions) (Details) - Performance Shares - shares	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Share Activity
Shares awarded but not earned at January 1	2,481,767
Shares awarded	861,686
Shares forfeited or unearned	(1,894,057)
Shares earned	0	(286,804)
Shares awarded but not earned at December 31	1,449,396	2,481,767

Stock Incentive Plan Stock Incentive Plan (Performance Awards Earned and Issued) (Details) - Performance Shares - shares	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Schedule of Share-based compensation arrangements by share-based payment award, performance shares earned and issued [Line Items]
Shares earned	0	286,804
Shares withheld for taxes on the earned awards		113,334
Shares issued subsequent to year-end	0	173,470

Stock Incentive Plan (Weighted Average Grant-Date Fair Value Of SSARS And Assumptions Under Black-Scholes Option Model) (Details) - Stock Appreciation Rights (SARs) - $ / shares	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant date fair value	$ 7.41	$ 13.11	$ 21.10
Expected life of awards (years)	3 years	3 years	5 years 6 months
Risk-free interest rate	0.90%	0.90%	0.90%
Expected volatility	25.90%	35.70%	50.30%
Expected dividend yield	1.10%	0.80%	0.80%

Stock Incentive Plan (SSAR Activity) (Details) - Stock Appreciation Rights (SARs)	12 Months Ended
	Dec. 31, 2015 $ / shares shares
Share Activity
SSARs outstanding, beginning of period \| shares	1,220,824
SSARs granted \| shares	325,200
SSARs exercised \| shares	(75,850)
SSARs canceled or forfeited \| shares	(150,263)
SSARs outstanding, end of period \| shares	1,319,911
Weighted average SSAR exercise prices per share, Granted	$ 43.88
Weighted average SSAR exercise prices per share, Exercised	27.01
Weighted average SSAR exercise prices per share, Canceled or forfeited	54.75
Weighted average SSAR exercise prices per share Outstanding at December 31	$ 49.56
Minimum
Share Activity
SSAR price ranges per share, Granted	43.88
SSAR price ranges per share, Exercised	21.45
SSAR price ranges per share, Canceled	43.88
Maximum
Share Activity
SSAR price ranges per share, Granted	43.88
SSAR price ranges per share, Exercised	52.94
SSAR price ranges per share, Canceled	56.98

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, 2015	Dec. 31, 2014
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Current Fiscal Year End Date	--12-31
Stock Appreciation Rights (SARs)
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
SSARs Outstanding, Number of Shares	1,319,911	1,220,824
SSARs Exercisable, Exercisable as of December 31	610,140
SSARs Exercisable, Weighted Average Exercise Price	$ 49.54
Stock Appreciation Rights (SARs) \| $32.01 - $43.88
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise Prices, lower limit	32.01
Range of Exercise Prices, upper limit	$ 43.88
SSARs Outstanding, Number of Shares	429,025
SSAR Outstanding, Weighted Average Remaining Contractual Life (Years)	4 years 9 months 18 days
SSARs Outstanding, Weighted Average Exercise Price	$ 41.25
SSARs Exercisable, Exercisable as of December 31	112,650
SSARs Exercisable, Weighted Average Exercise Price	$ 33.86
Stock Appreciation Rights (SARs) \| $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
SSARs Outstanding, Number of Shares	890,886
SSAR Outstanding, Weighted Average Remaining Contractual Life (Years)	3 years 10 months 24 days
SSARs Outstanding, Weighted Average Exercise Price	$ 53.56
SSARs Exercisable, Exercisable as of December 31	497,490
SSARs Exercisable, Weighted Average Exercise Price	$ 53.09

Stock Incentive Plan (Details) - Restricted Stock Units (RSUs) - shares	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares not vested	137,396	0
Shares awarded	144,398
Shares forfeited	(7,002)
Shares earned	0

Derivative Instruments and Hedging Activities (Narrative) (Details) € in Millions	12 Months Ended
	Dec. 31, 2015 USD ($) country	Dec. 31, 2014 USD ($)	Dec. 31, 2013 USD ($)	Dec. 31, 2015 EUR (€)	Dec. 31, 2012 USD ($)
Derivative Instruments, Gain (Loss) [Line Items]
Number of countries where products sold (over) \| country	140
Net losses reclassified from accumulated other comprehensive loss into income	$ (2,700,000)	$ (1,500,000)	$ (500,000)
Accumulated derivative net losses	(2,000,000)	(100,000)	(200,000)		$ 700,000
Notional amount of foreign currency derivatives	1,533,900,000
Cash Flow Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Net losses reclassified from accumulated other comprehensive loss into income	2,400,000	1,500,000	500,000
Accumulated derivative net losses	100,000	100,000	200,000
Notional amount of foreign currency derivatives	338,900,000			€ 312.0
Foreign Exchange Contract
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivative instruments	(67,300,000)	(2,300,000)	$ 9,500,000
Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Notional amount of foreign currency derivatives		23,800,000
Designated as Hedging Instrument \| Net Investment Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Notional amount of foreign currency derivatives	338,900,000			€ 312.0
Ineffectiveness amount	0
Foreign currency gains included in cumulative translation adjustment	7,500,000
Not Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Notional amount of foreign currency derivatives	1,533,900,000	$ 1,810,500,000
Interest Rate Swap \| Designated as Hedging Instrument \| Cash Flow Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Net losses reclassified from accumulated other comprehensive loss into income	$ 300,000
Derivative, fixed interest rate	0.33%			0.33%
Effective portion of the unrealized change in fair value, net of tax, loss	$ 2,000,000
Ineffectiveness amount	0
Interest Rate Swap \| Designated as Hedging Instrument \| Fair Value Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Notional amount of foreign currency derivatives	$ 300,000,000
Derivative, basis spread on variable rate	4.135%			4.135%
Recorded unrealized gains on hedged debt	$ 2,600,000
Unrealized losses on interest rate swaps	$ 2,600,000

Derivative Instruments and Hedging Activities (Summary Of Accumulated Other Comprehensive Loss Related To Derivatives) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Before-Tax Amount
Accumulated derivative net gains (losses), beginning of period	$ (0.2)	$ (0.3)	$ 1.1
Net changes in fair value of derivatives	(6.2)	(1.3)	(2.1)
Net losses reclassified from accumulated other comprehensive loss into income	3.1	1.4	0.7
Accumulated derivative net gains (losses), end of period	(3.3)	(0.2)	(0.3)
Income Tax
Accumulated derivative net gains (losses), beginning of period	(0.1)	(0.1)	0.4
Net changes in fair value of derivatives	(1.6)	0.1	(0.7)
Net losses reclassified from accumulated other comprehensive loss into income	0.4	(0.1)	0.2
Accumulated derivative net gains (losses), end of period	(1.3)	(0.1)	(0.1)
After-Tax Amount
Accumulated derivative net gains (losses), beginning of period	(0.1)	(0.2)	0.7
Net changes in fair value of derivatives	(4.6)	(1.4)	(1.4)
Net losses reclassified from accumulated other comprehensive loss into income	2.7	1.5	0.5
Accumulated derivative net gains (losses), end of period	$ (2.0)	$ (0.1)	$ (0.2)

Derivative Instruments and Hedging Activities ( Fair Value Of Derivative Instruments) (Details) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Derivative assets	$ 4.8	$ 11.3
Derivative liabilities	13.8	20.5
Designated as Hedging Instrument \| Interest Rate Contract \| Other noncurrent assets
Derivative assets	0.0
Designated as Hedging Instrument \| Interest Rate Contract \| Other noncurrent liabilities
Derivative liabilities	5.9
Designated as Hedging Instrument \| Foreign Exchange Contract \| Other current assets
Derivative assets		0.0
Designated as Hedging Instrument \| Foreign Exchange Contract \| Other current liabilities
Derivative liabilities		0.2
Not Designated as Hedging Instrument \| Foreign Exchange Contract \| Other current assets
Derivative assets	4.8	11.3
Not Designated as Hedging Instrument \| Foreign Exchange Contract \| Other current liabilities
Derivative liabilities	$ 7.9	$ 20.3

Commitments and Contingencies (Details)
BRL in Millions

12 Months Ended

Dec. 31, 2015

USD ($)

Dec. 31, 2014

USD ($)

Dec. 31, 2013

USD ($)

Dec. 31, 2015

BRL

Interest payments related to indebtedness [Abstract]

2016

^[1]

$ 52,200,000

2017

^[1]

20,200,000

2018

^[1]

17,400,000

2019

^[1]

15,600,000

2020

^[1]

13,400,000

Thereafter

^[1]

9,900,000

Total

^[1]

128,700,000

Capital lease obligations [Abstract]

2,100,000

900,000

400,000

3,400,000

Operating lease obligations [Abstract]

50,200,000

33,500,000

24,900,000

12,600,000

10,100,000

43,000,000

174,300,000

Unconditional purchase obligations [Abstract]

2016

^[2]

71,100,000

2017

^[2]

10,500,000

2018

^[2]

6,000,000

2019

^[2]

100,000

2020

^[2]

Thereafter

^[2]

Total

^[2]

87,700,000

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

2016

^[3]

95,400,000

2017

^[3]

37,100,000

2018

^[3]

45,900,000

2019

^[3]

40,800,000

2020

^[3]

40,700,000

Thereafter

^[3]

109,700,000

Total

^[3]

369,600,000

Total Contractual Cash Obligations [Abstract]

271,000,000

102,200,000

94,600,000

69,100,000

64,200,000

162,600,000

763,700,000

Guarantees Future Expiration

63,200,000

2,700,000

1,600,000

700,000

100,000

68,300,000

Guarantees [Abstract]

Guaranteed indebtedness owed to third parties

68,300,000

Notional amount of foreign currency derivatives

1,533,900,000

Total lease expense

77,200,000

$ 91,400,000

$ 83,600,000

Loss Contingency [Abstract]

Tax disallowance not including interest and penalties

33,200,000

BRL 131.5

Retail Finance Joint Venture

Guarantees [Abstract]

Maximum inventory exposure per calendar year

$ 6,000,000

[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).

Fair Value of Financial Instrument (Details) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	$ 4.8	$ 11.3
Derivative liabilities	13.8	20.5
Long-term debt	297.4
Trading securities	6.6
5 7/8% Senior Notes due 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt	297.4	337.6
Long-term debt, carrying amount		300.0
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	0.0	0.0
Derivative liabilities	0.0	0.0
Long-term debt	0.0
Trading securities	0.0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	4.8	11.3
Derivative liabilities	13.8	20.5
Long-term debt	297.4
Trading securities	6.6
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	0.0	0.0
Derivative liabilities	0.0	$ 0.0
Long-term debt	0.0
Trading securities	$ 0.0

Related Party Transactions (Details) - USD ($)	12 Months Ended
Related Party Transactions (Details) - USD ($)	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Related Party Transaction [Line Items]
Investments in retail finance joint ventures	$ 3,800,000	$ 3,900,000	$ 10,000,000
Ownership percentage	49.00%
Rabobank
Related Party Transaction [Line Items]
Ownership interest of controlling interest	51.00%
Ownership percentage	49.00%
Finance joint ventures
Related Party Transaction [Line Items]
Investments in retail finance joint ventures	$ 0	0	15,500,000
TAFE
Related Party Transaction [Line Items]
Cost method investment, ownership percentage	23.75%
Beneficial Ownership of Related Parties, Shares	12,150,152
Beneficial Ownership of Related Parties, Maximum Shares Allowed Per Letter Agreement	12,170,290
Purchases from related party	$ 129,200,000	149,000,000	90,700,000
Revenue from Related Parties	2,200,000	2,100,000	800,000
Dividends from Related Parties	1,700,000	1,800,000	1,600,000
PPG Industries, Inc.
Related Party Transaction [Line Items]
Purchases from related party	$ 3,000,000	$ 3,400,000	$ 3,300,000

Segment Reporting (Sales Information By Reportable Segments) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2015 USD ($) segments	Dec. 31, 2014 USD ($)	Dec. 31, 2013 USD ($)
Number of reportable segments \| segments	4
Net sales	$ 7,467.3	$ 9,723.7	$ 10,786.9
Income from operations	361.1	646.5	900.7
Depreciation	217.4	239.4	211.6
Total assets	6,501.3	7,368.8	8,395.8
Capital expenditures	211.4	301.5	391.8
Operating Segments
Net sales	7,467.3	9,723.7	10,786.9
Income from operations	546.9	841.9	1,097.3
Depreciation	217.4	239.4	211.6
Total assets	3,537.2	4,136.5	4,434.7
Capital expenditures	211.4	301.5	391.8
North America
Net sales	1,965.0	2,414.2	2,757.8
Income from operations	123.4	219.2	325.9
Depreciation	62.7	60.1	51.4
Total assets	943.7	1,026.9	1,002.8
Capital expenditures	48.6	70.9	73.4
South America
Net sales	949.0	1,663.4	2,039.7
Income from operations	34.4	134.0	212.7
Depreciation	20.9	26.5	24.6
Total assets	490.0	719.8	773.5
Capital expenditures	28.6	45.6	66.4
Europe/ Africa/ Middle East
Net sales	4,151.3	5,158.5	5,481.5
Income from operations	416.7	500.2	558.2
Depreciation	122.4	138.7	126.6
Total assets	1,757.2	2,036.0	2,368.9
Capital expenditures	100.8	136.3	204.5
Asia/ Pacific
Net sales	402.0	487.6	507.9
Income from operations	(27.6)	(11.5)	0.5
Depreciation	11.4	14.1	9.0
Total assets	346.3	353.8	289.5
Capital expenditures	$ 33.4	$ 48.7	$ 47.5

Segment Reporting (Income From Operations And Total Assets) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Segment income from operations	$ 361.1	$ 646.5	$ 900.7
Corporate expenses	(109.2)	(117.7)	(116.2)
Stock compensation (expense) credit	(12.5)	10.6	(34.9)
Restructuring and other infrequent expenses	(22.3)	(46.4)	0.0
Amortization of intangibles	(42.7)	(41.0)	(47.8)
Cash and cash equivalents	426.7	363.7	1,047.2	$ 781.3
Receivables from affiliates	70.1	108.4	124.3
Investment in affiliates	392.9	424.1	416.1
Deferred tax assets, other current and noncurrent assets	452.2	589.5	629.2
Intangible assets, net	507.7	553.8	565.6
Goodwill	1,114.5	1,192.8	1,178.7	$ 1,192.4
Total assets	6,501.3	7,368.8	8,395.8
Operating Segments
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Segment income from operations	546.9	841.9	1,097.3
Total assets	3,537.2	4,136.5	4,434.7
Selling, General and Administrative Expenses
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Stock compensation (expense) credit	$ (11.6)	$ 9.7	$ (32.6)

Segment Reporting (Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	$ 7,467.3	$ 9,723.7	$ 10,786.9
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	1,624.0	1,985.4	2,216.5
Canada
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	233.6	333.9	419.4
Germany
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	913.2	1,240.0	1,301.0
France
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	762.6	828.4	1,136.8
United Kingdom and Ireland
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	414.5	490.8	471.8
Finland and Scandinavia
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	637.0	808.4	828.5
Other Europe
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	1,077.7	1,376.0	1,422.6
South America
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	932.3	1,646.2	2,018.5
Middle East and Africa
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	346.4	414.9	320.7
Asia
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	201.0	253.6	293.1
Australia and New Zealand
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	201.1	234.1	214.8
Mexico, Central America and Caribbean
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	$ 123.9	$ 112.0	$ 143.2

Segment Reporting (Revenue from External Customers by Products and Services) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Revenue from External Customer [Line Items]
Net sales	$ 7,467.3	$ 9,723.7	$ 10,786.9
Tractors
Revenue from External Customer [Line Items]
Net sales	4,244.1	5,566.8	6,491.1
Replacement Parts
Revenue from External Customer [Line Items]
Net sales	1,204.4	1,390.1	1,349.1
Other machinery
Revenue from External Customer [Line Items]
Net sales	629.6	875.3	1,001.0
Grain Storage and Protein Production Systems
Revenue from External Customer [Line Items]
Net sales	766.2	851.0	771.9
Combines
Revenue from External Customer [Line Items]
Net sales	331.9	581.0	652.8
Application Equipment
Revenue from External Customer [Line Items]
Net sales	$ 291.1	$ 459.5	$ 521.0

Segment Reporting (Schedule of Disclosure on Geographic Areas, Long-Lived Assets in Individual Foreign Countries by Country) (Details) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment and amortizable intangible assets	$ 1,769.5	$ 1,995.2
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment and amortizable intangible assets	619.0	666.7
Finland
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment and amortizable intangible assets	165.2	192.5
Germany
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment and amortizable intangible assets	369.2	420.8
Brazil
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment and amortizable intangible assets	143.6	204.1
Italy
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment and amortizable intangible assets	88.3	101.8
China
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment and amortizable intangible assets	150.0	138.7
France
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment and amortizable intangible assets	68.3	83.2
Other
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment and amortizable intangible assets	$ 165.9	$ 187.4