0000880266-24-000052 | 10-Q | XBRL Viewer

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Restructuring Expenses (Restructuring Expense Activity) (Details) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2024	Mar. 31, 2024
Restructuring and Related Activities [Abstract]
Restructuring reserve, beginning of period	$ 5.3	$ 7.8
Quarterly provision	30.5	1.1
Quarterly provision reversal	(0.4)
Quarterly cash activity	(2.1)	(3.4)
Reclassified to held for sale	(0.4)
Foreign currency translation	(0.3)	(0.2)
Restructuring reserve, end of period	$ 32.6	$ 5.3

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Jun. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Accounts Receivable Sales Agreements	6 Months Ended
Accounts Receivable Sales Agreements	Jun. 30, 2024
Transfers and Servicing [Abstract]
Accounts Receivable Sales Agreements	ACCOUNTS RECEIVABLE SALES AGREEMENTS The Company has accounts receivable sales agreements that permit the sale, on an ongoing basis, of a majority of its wholesale receivables in North America, Europe and Brazil to its U.S., Canadian, European and Brazilian finance joint ventures. The cash received from receivables sold under the U.S., Canadian, European and Brazilian accounts receivable sales agreements that remain outstanding as of June 30, 2024 and December 31, 2023 was approximately $2.4 billion and $2.5 billion, respectively. Under the terms of the accounts receivable sales agreements in the U.S., Canada, Europe and Brazil, the Company pays an annual fee related to the servicing of the receivables sold. The Company also pays the respective AGCO Finance entities a subsidized interest payment with respect to the accounts receivable sales agreements, calculated based upon the interest rate charged by Rabobank to its affiliate, and such affiliate then lends to the AGCO Finance entities plus an agreed-upon margin. These fees are reflected within losses on the sales of receivables included within “Other expense, net” in the Company’s Condensed 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 receivables sold under these agreements 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 cash received from trade receivables sold under factoring arrangements that remain outstanding as of June 30, 2024 and December 31, 2023 was approximately $221.4 million and $254.1 million, respectively. Under these arrangements, the Company is required to continue to service the sold receivables at market rates. The Company does not maintain any direct retained interest in the receivables. The Company reviewed its accounting for the accounts receivable sales agreements and determined that receivables sold under these agreements should be accounted for as off-balance sheet transactions. Losses on sales of receivables associated with the accounts receivable sales agreements discussed above, reflected within “Other expense, net” in the Company’s Condensed Consolidated Statements of Operations, were approximately $35.9 million and $63.8 million during the three and six months ended June 30, 2024, respectively. Losses on sales of receivables associated with the accounts receivable sales agreements discussed above, reflected within “Other expense, net” in the Company’s Condensed Consolidated Statements of Operations, were approximately and $30.3 million and $58.8 million during the three and six months ended June 30, 2023, respectively. The Company’s finance joint ventures in Europe, Brazil and Australia also provide wholesale financing directly to the Company’s dealers. As of June 30, 2024 and December 31, 2023, these finance joint ventures had approximately $187.7 million and $211.3 million, respectively, of outstanding accounts receivable associated with these arrangements. In certain foreign countries, the Company invoices its finance joint ventures directly and the finance joint ventures retain a form of title to the goods delivered to dealers until the dealer makes payment so that the finance joint ventures can recover the goods in the event of dealer or end 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 finance joint ventures retain with respect to the title are those enabling recovery of the goods in the event of customer default on payment. The dealer or distributor may not return equipment or replacement parts to the Company while its contract with the finance joint venture is in force, and can only return the equipment to the retail finance joint venture with penalties that would generally not make it economically beneficial to do so.

Product Warranty (Narrative) (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023
Product Warranty Liability [Line Items]
Product warranty period, minimum, years	1 year
Product warranty period, maximum, years	4 years
Product warranty accrual, current	$ 635.6	$ 679.9	$ 613.6
Product warranty accrual, noncurrent	$ 139.0	$ 120.9	$ 113.6
Minimum
Product Warranty Liability [Line Items]
Extended product warranty, period	3 years
Maximum
Product Warranty Liability [Line Items]
Extended product warranty, period	5 years

Cover Page - shares	6 Months Ended
Cover Page - shares	Jun. 30, 2024	Aug. 02, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
Document Transition Report	false
Entity File Number	001-12930
Entity Registrant Name	AGCO CORP /DE
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	58-1960019
Entity Address, Address Line One	4205 River Green Parkway
Entity Address, City or Town	Duluth,
Entity Address, State or Province	GA
Entity Address, Postal Zip Code	30096
City Area Code	(770)
Local Phone Number	813-9200
Title of 12(b) Security	Common stock
Trading Symbol	AGCO
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		74,642,303
Entity Central Index Key	0000880266
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Amendment Flag	false

Commitments and Contingencies (Tables)

6 Months Ended

Jun. 30, 2024

Commitments and Contingencies Disclosure [Abstract]

Summary of Operating Lease Maturity

Lease payment amounts for operating and finance leases with remaining terms greater than one year, including leases classified as held for sale, as of June 30, 2024 and December 31, 2023 were as follows (in millions):


	June 30, 2024				December 31, 2023
	Operating Leases(1)		Finance Leases		Operating Leases(1)		Finance Leases
2024	$	30.1	$	0.3	$	52.8	$	0.7
2025	53.3		0.7		43.0		0.6
2026	41.7		0.4		32.6		0.4
2027	26.5		0.4		19.7		0.3
2028	19.5		0.2		14.7		0.1
Thereafter	48.5		5.8		46.5		5.8
Total lease payments	219.6		7.8		209.3		7.9
Less: imputed interest(2)	(31.7)		(2.0)		(29.5)		(2.0)

Present value of leased liabilities	$	187.9	$	5.8	$	179.8	$	5.9

__________________________________

(1) Operating lease payments include options to extend or terminate at the Company's sole discretion, which are included in the determination of lease term when they are reasonably certain to be exercised.

(2) Calculated for each lease using either the implicit interest rate or the incremental borrowing rate when the implicit interest rate is not readily available.

Summary of Finance Lease Maturity


	June 30, 2024				December 31, 2023
	Operating Leases(1)		Finance Leases		Operating Leases(1)		Finance Leases
2024	$	30.1	$	0.3	$	52.8	$	0.7
2025	53.3		0.7		43.0		0.6
2026	41.7		0.4		32.6		0.4
2027	26.5		0.4		19.7		0.3
2028	19.5		0.2		14.7		0.1
Thereafter	48.5		5.8		46.5		5.8
Total lease payments	219.6		7.8		209.3		7.9
Less: imputed interest(2)	(31.7)		(2.0)		(29.5)		(2.0)

Present value of leased liabilities	$	187.9	$	5.8	$	179.8	$	5.9

__________________________________

(2) Calculated for each lease using either the implicit interest rate or the incremental borrowing rate when the implicit interest rate is not readily available.

Product Warranty (Warranty Reserve Activity) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Warranty reserve activity:
Balance at beginning of period	$ 793.1	$ 677.0	$ 800.8	$ 640.0
Acquisitions	4.1	0.0	4.1	0.0
Accruals for warranties issued	93.8	107.8	185.9	197.5
Settlements made and deferred revenue recognized	(93.6)	(63.4)	(175.6)	(127.9)
Reclassified to held for sale	(11.6)	0.0	(11.6)	0.0
Foreign currency translation	(11.2)	5.8	(29.0)	17.6
Balance at end of period	$ 774.6	$ 727.2	$ 774.6	$ 727.2

Revenue (Disaggregated Revenue) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Disaggregation of Revenue [Line Items]
Net sales	$ 3,246.6	$ 3,822.7	$ 6,175.3	$ 7,156.2
Tractors
Disaggregation of Revenue [Line Items]
Net sales	1,882.9	2,232.3	3,660.1	4,140.2
Replacement parts
Disaggregation of Revenue [Line Items]
Net sales	488.0	491.7	921.7	947.4
Grain storage and protein production systems
Disaggregation of Revenue [Line Items]
Net sales	296.1	313.0	501.3	568.9
Combines, application equipment and other machinery
Disaggregation of Revenue [Line Items]
Net sales	579.6	785.7	1,092.2	1,499.7
United States
Disaggregation of Revenue [Line Items]
Net sales	649.2	771.7	1,248.0	1,531.8
Canada
Disaggregation of Revenue [Line Items]
Net sales	151.9	184.7	251.8	312.6
Brazil
Disaggregation of Revenue [Line Items]
Net sales	256.2	512.0	485.8	937.5
Other South America
Disaggregation of Revenue [Line Items]
Net sales	88.6	83.4	159.8	157.1
Germany
Disaggregation of Revenue [Line Items]
Net sales	549.3	453.2	1,060.6	848.6
France
Disaggregation of Revenue [Line Items]
Net sales	393.3	373.7	718.2	675.1
United Kingdom and Ireland
Disaggregation of Revenue [Line Items]
Net sales	130.3	172.9	268.7	347.8
Finland and Scandinavia
Disaggregation of Revenue [Line Items]
Net sales	201.7	225.9	364.8	405.9
Italy
Disaggregation of Revenue [Line Items]
Net sales	102.8	141.6	172.1	233.8
Other Europe
Disaggregation of Revenue [Line Items]
Net sales	413.8	512.7	774.4	957.0
Middle East and Algeria
Disaggregation of Revenue [Line Items]
Net sales	111.8	110.8	273.2	226.4
Africa
Disaggregation of Revenue [Line Items]
Net sales	22.7	35.1	46.1	65.5
Asia
Disaggregation of Revenue [Line Items]
Net sales	62.3	102.1	136.9	188.8
Australia and New Zealand
Disaggregation of Revenue [Line Items]
Net sales	72.0	99.3	140.7	185.0
Mexico, Central America and Caribbean
Disaggregation of Revenue [Line Items]
Net sales	40.7	43.5	74.2	83.3
North America
Disaggregation of Revenue [Line Items]
Net sales	837.8	996.8	1,567.4	1,919.9
North America \| Tractors
Disaggregation of Revenue [Line Items]
Net sales	226.9	335.4	479.6	647.5
North America \| Replacement parts
Disaggregation of Revenue [Line Items]
Net sales	117.7	130.2	211.7	232.0
North America \| Grain storage and protein production systems
Disaggregation of Revenue [Line Items]
Net sales	210.6	189.2	339.1	336.3
North America \| Combines, application equipment and other machinery
Disaggregation of Revenue [Line Items]
Net sales	282.6	342.0	537.0	704.1
North America \| United States
Disaggregation of Revenue [Line Items]
Net sales	649.2	771.7	1,248.0	1,531.8
North America \| Canada
Disaggregation of Revenue [Line Items]
Net sales	151.9	184.7	251.8	312.6
North America \| Brazil
Disaggregation of Revenue [Line Items]
Net sales	0.0	0.0	0.0	0.0
North America \| Other South America
Disaggregation of Revenue [Line Items]
Net sales	0.0	0.0	0.0	0.0
North America \| Germany
Disaggregation of Revenue [Line Items]
Net sales	0.0	0.0	0.0	0.0
North America \| France
Disaggregation of Revenue [Line Items]
Net sales	0.0	0.0	0.0	0.0
North America \| United Kingdom and Ireland
Disaggregation of Revenue [Line Items]
Net sales	0.0	0.0	0.0	0.0
North America \| Finland and Scandinavia
Disaggregation of Revenue [Line Items]
Net sales	0.0	0.0	0.0	0.0
North America \| Italy
Disaggregation of Revenue [Line Items]
Net sales	0.0	0.0	0.0	0.0
North America \| Other Europe
Disaggregation of Revenue [Line Items]
Net sales	0.0	0.0	0.0	0.0
North America \| Middle East and Algeria
Disaggregation of Revenue [Line Items]
Net sales	0.0	0.0	0.0	0.0
North America \| Africa
Disaggregation of Revenue [Line Items]
Net sales	0.0	0.0	0.0	0.0
North America \| Asia
Disaggregation of Revenue [Line Items]
Net sales	0.0	0.0	0.0	0.0
North America \| Australia and New Zealand
Disaggregation of Revenue [Line Items]
Net sales	0.0	0.0	0.0	0.0
North America \| Mexico, Central America and Caribbean
Disaggregation of Revenue [Line Items]
Net sales	36.6	40.4	67.5	75.5
South America
Disaggregation of Revenue [Line Items]
Net sales	348.9	598.6	652.3	1,102.4
South America \| Tractors
Disaggregation of Revenue [Line Items]
Net sales	207.2	371.7	380.1	654.6
South America \| Replacement parts
Disaggregation of Revenue [Line Items]
Net sales	39.6	38.9	78.7	82.3
South America \| Grain storage and protein production systems
Disaggregation of Revenue [Line Items]
Net sales	33.0	38.9	63.4	79.6
South America \| Combines, application equipment and other machinery
Disaggregation of Revenue [Line Items]
Net sales	69.1	149.1	130.1	285.9
South America \| United States
Disaggregation of Revenue [Line Items]
Net sales	0.0	0.0	0.0	0.0
South America \| Canada
Disaggregation of Revenue [Line Items]
Net sales	0.0	0.0	0.0	0.0
South America \| Brazil
Disaggregation of Revenue [Line Items]
Net sales	256.2	512.0	485.8	937.5
South America \| Other South America
Disaggregation of Revenue [Line Items]
Net sales	88.6	83.4	159.8	157.1
South America \| Germany
Disaggregation of Revenue [Line Items]
Net sales	0.0	0.0	0.0	0.0
South America \| France
Disaggregation of Revenue [Line Items]
Net sales	0.0	0.0	0.0	0.0
South America \| United Kingdom and Ireland
Disaggregation of Revenue [Line Items]
Net sales	0.0	0.0	0.0	0.0
South America \| Finland and Scandinavia
Disaggregation of Revenue [Line Items]
Net sales	0.0	0.0	0.0	0.0
South America \| Italy
Disaggregation of Revenue [Line Items]
Net sales	0.0	0.0	0.0	0.0
South America \| Other Europe
Disaggregation of Revenue [Line Items]
Net sales	0.0	0.0	0.0	0.0
South America \| Middle East and Algeria
Disaggregation of Revenue [Line Items]
Net sales	0.0	0.0	0.0	0.0
South America \| Africa
Disaggregation of Revenue [Line Items]
Net sales	0.0	0.0	0.0	0.0
South America \| Asia
Disaggregation of Revenue [Line Items]
Net sales	0.0	0.0	0.0	0.0
South America \| Australia and New Zealand
Disaggregation of Revenue [Line Items]
Net sales	0.0	0.0	0.0	0.0
South America \| Mexico, Central America and Caribbean
Disaggregation of Revenue [Line Items]
Net sales	4.1	3.1	6.7	7.8
Europe/Middle East
Disaggregation of Revenue [Line Items]
Net sales	1,902.9	1,990.8	3,631.9	3,694.6
Europe/Middle East \| Tractors
Disaggregation of Revenue [Line Items]
Net sales	1,365.0	1,393.3	2,625.7	2,599.0
Europe/Middle East \| Replacement parts
Disaggregation of Revenue [Line Items]
Net sales	307.2	299.1	584.9	582.3
Europe/Middle East \| Grain storage and protein production systems
Disaggregation of Revenue [Line Items]
Net sales	33.4	49.7	55.5	83.8
Europe/Middle East \| Combines, application equipment and other machinery
Disaggregation of Revenue [Line Items]
Net sales	197.4	248.7	365.9	429.5
Europe/Middle East \| United States
Disaggregation of Revenue [Line Items]
Net sales	0.0	0.0	0.0	0.0
Europe/Middle East \| Canada
Disaggregation of Revenue [Line Items]
Net sales	0.0	0.0	0.0	0.0
Europe/Middle East \| Brazil
Disaggregation of Revenue [Line Items]
Net sales	0.0	0.0	0.0	0.0
Europe/Middle East \| Other South America
Disaggregation of Revenue [Line Items]
Net sales	0.0	0.0	0.0	0.0
Europe/Middle East \| Germany
Disaggregation of Revenue [Line Items]
Net sales	549.3	453.2	1,060.6	848.6
Europe/Middle East \| France
Disaggregation of Revenue [Line Items]
Net sales	393.3	373.7	718.2	675.1
Europe/Middle East \| United Kingdom and Ireland
Disaggregation of Revenue [Line Items]
Net sales	130.3	172.9	268.7	347.8
Europe/Middle East \| Finland and Scandinavia
Disaggregation of Revenue [Line Items]
Net sales	201.7	225.9	364.8	405.9
Europe/Middle East \| Italy
Disaggregation of Revenue [Line Items]
Net sales	102.8	141.6	172.1	233.8
Europe/Middle East \| Other Europe
Disaggregation of Revenue [Line Items]
Net sales	413.8	512.7	774.4	957.0
Europe/Middle East \| Middle East and Algeria
Disaggregation of Revenue [Line Items]
Net sales	111.8	110.8	273.2	226.4
Europe/Middle East \| Africa
Disaggregation of Revenue [Line Items]
Net sales	0.0	0.0	0.0	0.0
Europe/Middle East \| Asia
Disaggregation of Revenue [Line Items]
Net sales	0.0	0.0	0.0	0.0
Europe/Middle East \| Australia and New Zealand
Disaggregation of Revenue [Line Items]
Net sales	0.0	0.0	0.0	0.0
Europe/Middle East \| Mexico, Central America and Caribbean
Disaggregation of Revenue [Line Items]
Net sales	0.0	0.0	0.0	0.0
Asia/Pacific/Africa
Disaggregation of Revenue [Line Items]
Net sales	157.0	236.5	323.7	439.3
Asia/Pacific/Africa \| Tractors
Disaggregation of Revenue [Line Items]
Net sales	83.8	131.9	174.7	239.1
Asia/Pacific/Africa \| Replacement parts
Disaggregation of Revenue [Line Items]
Net sales	23.5	23.5	46.4	50.8
Asia/Pacific/Africa \| Grain storage and protein production systems
Disaggregation of Revenue [Line Items]
Net sales	19.1	35.2	43.3	69.2
Asia/Pacific/Africa \| Combines, application equipment and other machinery
Disaggregation of Revenue [Line Items]
Net sales	30.5	45.9	59.2	80.2
Asia/Pacific/Africa \| United States
Disaggregation of Revenue [Line Items]
Net sales	0.0	0.0	0.0	0.0
Asia/Pacific/Africa \| Canada
Disaggregation of Revenue [Line Items]
Net sales	0.0	0.0	0.0	0.0
Asia/Pacific/Africa \| Brazil
Disaggregation of Revenue [Line Items]
Net sales	0.0	0.0	0.0	0.0
Asia/Pacific/Africa \| Other South America
Disaggregation of Revenue [Line Items]
Net sales	0.0	0.0	0.0	0.0
Asia/Pacific/Africa \| Germany
Disaggregation of Revenue [Line Items]
Net sales	0.0	0.0	0.0	0.0
Asia/Pacific/Africa \| France
Disaggregation of Revenue [Line Items]
Net sales	0.0	0.0	0.0	0.0
Asia/Pacific/Africa \| United Kingdom and Ireland
Disaggregation of Revenue [Line Items]
Net sales	0.0	0.0	0.0	0.0
Asia/Pacific/Africa \| Finland and Scandinavia
Disaggregation of Revenue [Line Items]
Net sales	0.0	0.0	0.0	0.0
Asia/Pacific/Africa \| Italy
Disaggregation of Revenue [Line Items]
Net sales	0.0	0.0	0.0	0.0
Asia/Pacific/Africa \| Other Europe
Disaggregation of Revenue [Line Items]
Net sales	0.0	0.0	0.0	0.0
Asia/Pacific/Africa \| Middle East and Algeria
Disaggregation of Revenue [Line Items]
Net sales	0.0	0.0	0.0	0.0
Asia/Pacific/Africa \| Africa
Disaggregation of Revenue [Line Items]
Net sales	22.7	35.1	46.1	65.5
Asia/Pacific/Africa \| Asia
Disaggregation of Revenue [Line Items]
Net sales	62.3	102.1	136.9	188.8
Asia/Pacific/Africa \| Australia and New Zealand
Disaggregation of Revenue [Line Items]
Net sales	72.0	99.3	140.7	185.0
Asia/Pacific/Africa \| Mexico, Central America and Caribbean
Disaggregation of Revenue [Line Items]
Net sales	$ 0.0	$ 0.0	$ 0.0	$ 0.0

Derivative Instruments and Hedging Activities (Narrative) (Details) € in Millions, $ in Millions		3 Months Ended	6 Months Ended
	Mar. 28, 2024 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2023 USD ($)	Jan. 29, 2028 USD ($)	Jan. 29, 2028 EUR (€)	Jun. 30, 2024 USD ($)	Mar. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Jun. 30, 2023 EUR (€)
Deferred Net (Losses) Gains on Derivatives
Derivative Instruments, Gain (Loss) [Line Items]
Realized gains (losses) in accumulated other comprehensive loss						$ 6.8	$ 8.1	$ (1.3)
Foreign currency contracts
Derivative Instruments, Gain (Loss) [Line Items]
Notional amount						3,032.1
Foreign currency contracts \| Deferred Net (Losses) Gains on Derivatives
Derivative Instruments, Gain (Loss) [Line Items]
Realized gains (losses) in accumulated other comprehensive loss						0.9
Foreign currency contracts \| Not Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Notional amount						2,645.5		3,125.1
Foreign currency contracts \| Cash Flow Hedging \| Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Notional amount						386.6		262.2
Commodity contracts \| Deferred Net (Losses) Gains on Derivatives
Derivative Instruments, Gain (Loss) [Line Items]
Realized gains (losses) in accumulated other comprehensive loss						(0.1)
Commodity contracts \| Cash Flow Hedging \| Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Notional amount						0.1		$ 2.5
Treasury rate locks \| Cash Flow Hedging \| Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Gain recognized in accumulated other comprehensive loss	$ 8.2
Cross currency swap contract payment \| Net Investment Hedging \| Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Notional amount						$ 265.3
Cross currency swap contract payment \| Net Investment Hedging \| Designated as Hedging Instrument \| Forecast
Derivative Instruments, Gain (Loss) [Line Items]
Notional amount \| €					€ 247.9
Cross currency swap contract receipt \| Net Investment Hedging \| Designated as Hedging Instrument \| Forecast
Derivative Instruments, Gain (Loss) [Line Items]
Notional amount				$ 300.0
Foreign currency denominated debt \| Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Gain on net investment hedge, net of tax, recognized in other comprehensive loss		$ 0.1	$ 1.0
Foreign currency denominated debt \| Net Investment Hedging \| Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Notional amount \| €									€ 150.0

Fair Value of Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2024

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 June 30, 2024 and December 31, 2023 are summarized below (in millions):


	As of June 30, 2024
	Level 1		Level 2		Level 3		Total
Derivative assets	$	—	$	35.1	$	—	$	35.1
Derivative liabilities	—		17.1		—		17.1


	As of December 31, 2023
	Level 1		Level 2		Level 3		Total
Derivative assets	$	—	$	38.7	$	—	$	38.7
Derivative liabilities	—		14.0		—		14.0

Derivative Instruments and Hedging Activities (Summary Of Accumulated Other Comprehensive Loss Related To Derivatives) (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2024
After-Tax Amount
Balance beginning of period	$ 4,755.2	$ 4,656.8
Balance end of period	4,053.9	4,053.9
Deferred Net (Losses) Gains on Derivatives
Before-Tax Amount
Accumulated derivative net gains (losses) as the beginning of the period	8.1	(1.3)
Net changes in fair value of derivatives	(2.8)	4.0
Net losses reclassified from accumulated other comprehensive loss into income	1.5	4.1
Accumulated derivative net gains (losses) as of the end of the period	6.8	6.8
Income Tax Expense (Benefit)
Accumulated derivative net gains (losses) as of the beginning of the period	2.0	(0.5)
Net changes in fair value of derivatives	0.7	2.9
Net losses reclassified from accumulated other comprehensive loss into income	0.0	0.3
Accumulated derivative net gains (losses) as of the end of the period	2.7	2.7
After-Tax Amount
Balance beginning of period	6.1	(0.8)
Other comprehensive loss before reclassifications	(3.5)	1.1
Net losses reclassified from accumulated other comprehensive loss into income	1.5	3.8
Balance end of period	$ 4.1	$ 4.1

Inventories

6 Months Ended

Jun. 30, 2024

Inventory Disclosure [Abstract]

Inventories

INVENTORIES

Inventories, net at June 30, 2024 and December 31, 2023, excluding amounts classified as held for sale, were as follows (in millions):


	June 30, 2024		December 31, 2023
Finished goods	$	1,605.1	$	1,460.7
Repair and replacement parts	808.6		823.1
Work in process	279.0		255.2
Raw materials	806.7		901.7
Inventories, net	$	3,499.4	$	3,440.7

At June 30, 2024 and December 31, 2023, the Company had recorded $261.0 million and $238.9 million respectively, as a reserve for surplus and obsolete inventories. These reserves are reflected within "Inventories, net" within the Company's Condensed Consolidated Balance Sheets.

Stockholders' Equity (Reclassifications out of Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Cost of goods sold	$ 2,409.1	$ 2,817.0	$ 4,568.0	$ 5,295.6
Interest expense, net	29.9	5.8	31.8	6.3
Reclassification before tax	336.9	(412.6)	116.0	(749.0)
Income tax provision	41.6	111.0	110.7	231.2
Other expense, net	65.3	78.0	116.1	128.4
Net losses reclassified from accumulated other comprehensive loss	367.1	(319.2)	199.1	(551.8)
Amount Reclassified from Accumulated Other Comprehensive Loss
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Net losses reclassified from accumulated other comprehensive loss	3.4	3.1	7.4	6.4
Amount Reclassified from Accumulated Other Comprehensive Loss \| Derivatives
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Reclassification before tax	1.5	1.8	4.1	3.6
Income tax provision	0.0	(0.6)	(0.3)	(0.9)
Net losses reclassified from accumulated other comprehensive loss	1.5	1.2	3.8	2.7
Amount Reclassified from Accumulated Other Comprehensive Loss \| Amortization of net actuarial losses
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Other expense, net	2.2	2.2	4.4	4.2
Amount Reclassified from Accumulated Other Comprehensive Loss \| Amortization of prior service cost
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Other expense, net	0.4	0.4	0.8	0.8
Amount Reclassified from Accumulated Other Comprehensive Loss \| Defined benefit plans
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Reclassification before tax	2.6	2.6	5.2	5.0
Income tax provision	(0.7)	(0.7)	(1.6)	(1.3)
Net losses reclassified from accumulated other comprehensive loss	1.9	1.9	3.6	3.7
Foreign currency contracts \| Amount Reclassified from Accumulated Other Comprehensive Loss \| Derivatives
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Cost of goods sold	1.6	1.3	4.2	3.5
Commodity contracts \| Amount Reclassified from Accumulated Other Comprehensive Loss \| Derivatives
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Cost of goods sold	0.2	0.5	0.2	0.1
Treasury rate locks \| Amount Reclassified from Accumulated Other Comprehensive Loss \| Derivatives
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Interest expense, net	$ (0.3)	$ 0.0	$ (0.3)	$ 0.0

Indebtedness

6 Months Ended

Jun. 30, 2024

Debt Disclosure [Abstract]

Indebtedness

INDEBTEDNESS

Long-term debt, excluding amounts classified as held for sale, consisted of the following at June 30, 2024 and December 31, 2023 (in millions):


	June 30, 2024		December 31, 2023
Credit facility, expires 2027	$	760.0	$	—
Term Loan Facility borrowings	500.0		—
5.450% Senior notes due 2027	400.0		—
5.800% Senior notes due 2034	700.0		—
0.800% Senior notes due 2028	642.0		664.0
1.002% EIB Senior term loan due 2025	267.5		276.7
EIB Senior term loan due 2029	267.5		276.7
EIB Senior term loan due 2030	181.9		—
Senior term loans due between 2025 and 2028	156.8		162.1
Other long-term debt	1.0		3.1
Debt issuance costs	(13.0)		(3.1)
	3,863.7		1,379.5

Less:
Current portion of other long-term debt	(1.0)		(2.3)
1.002% EIB Senior term loan due 2025	(267.5)		—
Total long-term indebtedness	$	3,595.2	$	1,377.2

Credit Facility and Term Loan Facility

In December 2022, the Company, certain of its subsidiaries and Rabobank, and other named lenders entered into an amendment to its credit facility providing for a $1.25 billion multi-currency unsecured revolving credit facility (“Credit Facility”), which replaced the Company’s former $800.0 million multi-currency unsecured revolving credit facility. The amendment provided an additional $450.0 million in borrowing capacity. An initial borrowing under the credit facility was used to repay and retire a $240.0 million short-term multi-currency revolving credit facility with Rabobank that matured on March 31, 2023. The Credit Facility consists of a $325.0 million United States dollar tranche and a $925.0 million multi-currency tranche for loans denominated in United States dollars, Euros or other currencies to be agreed upon. The Credit Facility matures on December 19, 2027. Interest accrues on amounts outstanding for any borrowings denominated in United States dollars, at the Company’s option, at either (1) the Secured Overnight Financing Rate (“SOFR”) plus 0.1% plus a margin ranging from 0.875% to 1.875% based on the Company’s credit rating, or (2) the base rate, which is the highest of (i) the Prime Rate, (ii) the Federal Funds Effective Rate plus 0.5%, and (iii) Term SOFR for a one-month tenor plus 1.0%, plus a margin ranging from 0.000% to 0.875% based on the Company’s credit rating. Interest accrues on amounts outstanding for any borrowings denominated in Euros at the Euro Interbank Offered Rate (“EURIBOR”) plus a margin ranging from 0.875% to 1.875% based on the Company’s credit rating. As of June 30, 2024, the Company had $760.0 million in outstanding borrowings under the revolving credit facility and had the ability to borrow $489.9 million.

In December 2023, the Company amended the Credit Facility to allow for incremental borrowings in the form of a delayed draw term loan facility in an aggregate principal amount of $250.0 million. In March 2024, the Company further amended the Credit Facility to increase this amount by $250.0 million, for an aggregate amount of $500.0 million (“Term Loan Facility”). The Company drew down the Term Loan Facility on March 28, 2024. Borrowings under the Term Loan Facility bear interest at the same rate and margin as the Credit Facility. The Term Loan Facility matures on December 19, 2027. As of June 30, 2024, the Company had $500.0 million outstanding under the Term Loan Facility.

Uncommitted Credit Facility

In June 2022, the Company entered into an uncommitted revolving credit facility that allows the Company to borrow up to €100.0 million (or approximately $107.0 million as of June 30, 2024). The credit facility expires on December 31, 2026. Any loans will bear interest at the EURIBOR plus a credit spread. As of June 30, 2024 and December 31, 2023, the Company had no outstanding borrowings under the revolving credit facility and had the ability to borrow €100.0 million (or approximately $107.0 million).

5.450% Senior Notes due 2027 and 5.800% Senior Notes due 2034

On March 21, 2024, the Company issued (i) $400.0 million aggregate principal amount of 5.450% Senior Notes due 2027 (the “2027 Notes”) and (ii) $700.0 million aggregate principal amount of 5.800% Senior Notes due 2034 (the “2034 Notes”, and together with the 2027 Notes, the “Notes”). The Notes are unsecured and guaranteed on a senior unsecured basis by AGCO International Holdings B.V., AGCO International GmbH, Massey Ferguson Corp. and The GSI Group, LLC, direct and indirect subsidiaries of the Company (collectively, the “Guarantors”). The 2027 Notes mature on March 21, 2027, and interest is payable semi-annually, in arrears, at 5.450%. The 2034 Notes mature on March 21, 2034, and interest is payable semi-annually, in arrears, at 5.800%. The Notes contain covenants restricting among other things, the incurrence of certain secured indebtedness.

Prior to February 21, 2027, in the case of the 2027 Notes, and December 21, 2033, in the case of the 2034 Notes, the Company may redeem the 2027 Notes and/or the 2034 Notes at its option, in whole or in part, at any time and from time to time, at the applicable “make-whole” redemption price (calculated as set forth in the the Senior Note Indenture and First Supplemental Indenture and applicable series of the Notes). On or after February 21, 2027, in the case of the 2027 Notes, and December 21, 2033, in the case of the 2034 Notes, the Company may redeem the 2027 Notes or the 2034 Notes, as the case may be, in whole or in part, at any time and from time to time, at a redemption price equal to 100% of the principal amount of the Notes being redeemed plus accrued and unpaid interest thereon to, but not including, the redemption date.

0.800% Senior Notes due 2028

On October 6, 2021, the Company issued €600.0 million (or approximately $642.0 million as of June 30, 2024) of senior notes at an issue price of 99.993%. The notes mature on October 6, 2028, and interest is payable annually, in arrears, at 0.800%. The notes contain covenants restricting, among other things, the incurrence of certain secured indebtedness. The senior notes are subject to both optional and mandatory redemption in certain events.

1.002% European Investment Bank ("EIB") Senior Term Loan due 2025

On January 25, 2019, the Company borrowed €250.0 million (or approximately $267.5 million as of June 30, 2024) from the EIB. The loan matures on January 24, 2025. The Company is permitted to prepay the loan before its maturity date. Interest is payable on the loan at 1.002% per annum, payable semi-annually in arrears.

EIB Senior Term Loans due 2029 and 2030

On September 29, 2023, the Company entered into a multi-currency Finance Contract with the EIB permitting the Company to borrow up to €250.0 million to fund up to 50% of certain investments in research, development and innovation primarily in Germany, France and Finland during the period from 2023 through 2026. On October 26, 2023, the Company borrowed €250.0 million (or approximately $267.5 million as of June 30, 2024) under the arrangement. The loan matures on October 26, 2029. The loan generally can be prepaid at any time upon the election of the Company and must be prepaid upon the occurrence of certain events. Interest is payable on the term loan at 3.980% per annum, payable semi-annually in arrears. The Company also has to fulfill financial covenants with respect to a net leverage ratio and an interest coverage ratio.

On January 25, 2024, the Company entered into an additional multi-currency Finance Contract with the EIB permitting the Company to borrow up to €170.0 million, for which the proceeds will be used in a similar manner as described for the EIB Senior Term Loan due 2029 above. On February 15, 2024, the Company borrowed €170.0 million (or approximately $181.9 million as of June 30, 2024) under the arrangement. The loan matures on February 15, 2030. The loan generally can be prepaid at any time upon the election of the Company and must be prepaid upon the occurrence of certain events. Interest is payable on the term loan at 3.416% per annum, payable semi-annually in arrears. The Company also has to fulfill financial covenants with respect to a net leverage ratio and an interest coverage ratio.

Senior Term Loans Due Between 2025 and 2028

In October 2016, the Company borrowed an aggregate amount of €375.0 million through a group of seven related term loan agreements, and in August 2018, the Company borrowed an additional aggregate amount of €338.0 million through a group of another seven related term loan agreements. Of the 2016 term loans, the Company repaid an aggregate amount of €322.5 million in October 2019, October 2021, April 2022 and October 2023. Of the 2018 senior term loans, the Company repaid an aggregate amount of €244.0 million in August 2021, February 2022 and August 2023.

In aggregate, as of June 30, 2024, the Company had indebtedness of €146.5 million (or approximately $156.8 million as of June 30, 2024) through a group of four remaining related term loan agreements. The provisions of the term loan agreements are substantially identical, with the exception of interest rate terms and maturities. As of June 30, 2024, for the term loans with a fixed interest rate, interest is payable in arrears on an annual basis, with interest rates ranging from 1.67% to 2.26% and maturity dates between August 2025 and August 2028. For the term loan with a floating interest rate, interest is payable in arrears on a semi-annual basis, with an interest rate based on the EURIBOR plus a margin of 1.10% and a maturity date of August 2025.

Bridge Facility

On September 28, 2023, the Company entered into a bridge facility commitment letter with Morgan Stanley pursuant to which Morgan Stanley committed to provide a $2.0 billion senior unsecured 364-day bridge facility (the "Bridge Facility"). The availability under the Bridge Facility was reduced to zero by certain permanent financing transactions including the net proceeds from the issuance of the Notes, the Company's entry into the Term Loan Facility and by amounts based on the Company's cash flow, and the Company terminated the Bridge Facility on March 25, 2024.

Other Short-Term Borrowings

As of June 30, 2024 and December 31, 2023, the Company had short-term borrowings due within one year, excluding the current portion of long-term debt, of approximately $51.7 million and $12.7 million, respectively.

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 June 30, 2024 and December 31, 2023, outstanding letters of credit totaled approximately $14.7 million and $14.7 million, respectively.

Business Held for Sale

6 Months Ended

Jun. 30, 2024

Discontinued Operations and Disposal Groups [Abstract]

Business Held for Sale

BUSINESS HELD FOR SALE

On July 25, 2024, the Company announced it had entered into a definitive agreement to sell the majority of its Grain & Protein (“G&P”) business for a purchase price of $700.0 million, subject to customary working capital and other adjustments. As of June 30, 2024, the business met the criteria to be classified as held for sale. The Company recognizes assets and liabilities held for sale at the lower of carrying value or fair market value less costs to sell. The Company determined the intended sale of the G&P business does not represent a strategic shift that will have a major effect on the consolidated results of operations, and therefore results of this business were not classified as discontinued operations. The results of the G&P business are included within our North America, South America, Europe/Middle East and Asia/Pacific/Africa segments. Upon classification as held for sale, the Company recognized a loss on business held for sale of $494.6 million, which represents the estimated loss on the business held for sale, and is included within “Loss on business held for sale” in the Company's Condensed Consolidated Statements of Operations. The estimated loss includes $84.6 million of cumulative translation adjustment losses related to the assets expected to be divested and an estimate of costs to sell the business. The closing of the transaction is subject to customary closing conditions and is expected to be completed in the second half of 2024.

The major categories of assets and liabilities of the business classified as held for sale as of June 30, 2024 were as follows:


	June 30, 2024
Current assets held for sale:
Cash and cash equivalents	$	20.0
Accounts and notes receivable, net	203.8
Inventories, net	186.7
Other current assets	22.5
Total current assets held for sale	433.0
Property, plant and equipment, net	98.6

Right-of-use lease assets	15.7
Other assets	8.1
Intangible assets, net	112.3
Goodwill	213.6
Total assets held for sale	$	881.3

Current liabilities held for sale:
Accounts payable	$	117.7
Accrued expenses	105.9
Other current liabilities	46.7
Total current liabilities held for sale	270.3
Long-term debt, less current portion and debt issuance costs	0.8
Deferred tax liabilities	11.4
Pension and postretirement health care benefits	0.3
Operating lease liabilities	10.9
Other noncurrent liabilities	4.5
Total liabilities held for sale	$	298.2

Disposal group, net	$	583.1

Fair Value of Financial Instruments

6 Months Ended

Jun. 30, 2024

Fair Value Disclosures [Abstract]

Fair Value of Financial Instruments

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, except for those measured using the net asset value per share (or its equivalent) practical expedient.

The Company enters into foreign currency, commodity 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 additional information on the Company’s derivative instruments and hedging activities.

Assets and liabilities measured at fair value on a recurring basis as of June 30, 2024 and December 31, 2023 are summarized below (in millions):


	As of June 30, 2024
	Level 1		Level 2		Level 3		Total
Derivative assets	$	—	$	35.1	$	—	$	35.1
Derivative liabilities	—		17.1		—		17.1


	As of December 31, 2023
	Level 1		Level 2		Level 3		Total
Derivative assets	$	—	$	38.7	$	—	$	38.7
Derivative liabilities	—		14.0		—		14.0

The carrying amounts of long-term debt under the Company’s 1.002% EIB senior term loan due 2025, EIB senior term loans due 2029 and 2030 and senior term loans due between 2025 and 2028 approximate fair value based on the borrowing rates currently available to the Company for loans with similar terms and average maturities. At June 30, 2024, the estimated fair value of the Company's 0.800% senior notes due 2028, based on listed market values, was approximately €527.3 million (or approximately $564.2 million), compared to the carrying value of €600.0 million (or approximately $642.0 million). At June 30, 2024, the estimated fair value of the Company's 5.450% senior notes due 2027, based on listed market values, was approximately $400.8 million, compared to the carrying value of $400.0 million. At June 30, 2024, the estimated fair value of the Company's 5.800% senior notes due 2034, based on listed market values, was approximately $697.0 million, compared to the carrying value of $700.0 million. See Note 9 for additional information on the Company’s long-term debt.

- 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

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 107
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-107

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 100
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2E

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 940
-SubTopic 820
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478119/940-820-50-1

+ Details

Segment Reporting (Income From Operations and Total Assets) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Reconciliation of Income From Operations from Segments to Consolidated
Income from operations	$ (241.7)	$ 496.4	$ 31.9	$ 883.7
Impairment charges	(5.1)	0.0	(5.1)	0.0
Loss on business held for sale	(494.6)	0.0	(494.6)	0.0
Amortization of intangibles	(31.7)	(14.1)	(45.6)	(28.9)
Restructuring expenses	(30.2)	(6.1)	(31.2)	(7.5)
Consolidated income (loss) from operations	(241.7)	496.4	31.9	883.7
Reconciliation of Assets from Segment to Consolidated
Assets	13,614.8		13,614.8		$ 11,421.2
Cash and cash equivalents	657.3		657.3		595.5
Investments in affiliates	518.3		518.3		512.7
Intangible assets, net	689.9		689.9		308.8
Goodwill	2,407.8		2,407.8		1,333.4
Operating Segments
Reconciliation of Income From Operations from Segments to Consolidated
Income from operations	390.2	574.4	739.7	1,033.5
Consolidated income (loss) from operations	390.2	574.4	739.7	1,033.5
Reconciliation of Assets from Segment to Consolidated
Assets	7,458.1		7,458.1		7,170.7
Segment Reconciling Items
Reconciliation of Income From Operations from Segments to Consolidated
Impairment charges	(5.1)	0.0	(5.1)	0.0
Loss on business held for sale	(494.6)	0.0	(494.6)	0.0
Corporate expenses	(62.9)	(45.0)	(115.9)	(87.1)
Amortization of intangibles	(31.7)	(14.1)	(45.6)	(28.9)
Stock compensation expense	(7.4)	(12.8)	(15.4)	(26.3)
Restructuring expenses	(30.2)	$ (6.1)	(31.2)	$ (7.5)
Reconciliation of Assets from Segment to Consolidated
Cash and cash equivalents	657.3		657.3		595.5
Investments in affiliates	518.3		518.3		512.7
Deferred tax assets, other current and noncurrent assets	1,506.9		1,506.9		1,500.1
Assets held for sale	376.5		376.5		0.0
Intangible assets, net	689.9		689.9		308.8
Goodwill	$ 2,407.8		$ 2,407.8		$ 1,333.4

Goodwill and Other Intangible Assets (Schedule of Change in Carrying Amount of Intangible Assets) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Gross carrying amounts:
Balance at beginning of period			$ 929.5
Acquisitions			545.0
Reclassified to held for sale			(598.0)
Foreign currency translation			(21.8)
Balance at end of period	$ 854.7		854.7
Accumulated amortization:
Balance at beginning of period			712.9
Amortization expense	31.7	$ 14.1	45.6	$ 28.9
Reclassified to held for sale			(490.2)
Foreign currency translation			(17.8)
Balance at end of period	250.5		250.5
Trademarks and Trade Names
Gross carrying amounts:
Balance at beginning of period			194.3
Acquisitions			10.7
Reclassified to held for sale			(122.0)
Foreign currency translation			(3.5)
Balance at end of period	79.5		79.5
Accumulated amortization:
Balance at beginning of period			114.5
Amortization expense			5.5
Reclassified to held for sale			(73.9)
Foreign currency translation			(2.2)
Balance at end of period	43.9		43.9
Customer Relationships
Gross carrying amounts:
Balance at beginning of period			580.7
Acquisitions			39.4
Reclassified to held for sale			(417.3)
Foreign currency translation			(11.6)
Balance at end of period	191.2		191.2
Accumulated amortization:
Balance at beginning of period			483.4
Amortization expense			31.6
Reclassified to held for sale			(367.4)
Foreign currency translation			(23.1)
Balance at end of period	124.5		124.5
Patents and Technology
Gross carrying amounts:
Balance at beginning of period			148.2
Acquisitions			453.0
Reclassified to held for sale			(58.7)
Foreign currency translation			(6.6)
Balance at end of period	535.9		535.9
Accumulated amortization:
Balance at beginning of period			113.3
Amortization expense			5.0
Reclassified to held for sale			(48.9)
Foreign currency translation			7.6
Balance at end of period	77.0		77.0
Other
Gross carrying amounts:
Balance at beginning of period			6.3
Acquisitions			41.9
Reclassified to held for sale			0.0
Foreign currency translation			(0.1)
Balance at end of period	48.1		48.1
Accumulated amortization:
Balance at beginning of period			1.7
Amortization expense			3.5
Reclassified to held for sale			0.0
Foreign currency translation			(0.1)
Balance at end of period	$ 5.1		$ 5.1

Net Income (Loss) Per Common Share (Tables)

6 Months Ended

Jun. 30, 2024

Earnings Per Share [Abstract]

Calculation of Basic and Diluted Earnings Per Share

A reconciliation of net income attributable to AGCO Corporation and subsidiaries and weighted average common shares outstanding for purposes of calculating basic and diluted net income (loss) per share for the three and six months ended June 30, 2024 and 2023 is as follows (in millions, except per share data):


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Basic net income (loss) per share:
Net income (loss) attributable to AGCO Corporation and subsidiaries	$	(367.1)	$	319.2	$	(199.1)	$	551.8
Weighted average number of common shares outstanding	74.6		74.9		74.6		74.9
Basic net income (loss) per share attributable to AGCO Corporation and subsidiaries	$	(4.92)	$	4.26	$	(2.67)	$	7.37
Diluted net income (loss) per share:
Net income (loss) attributable to AGCO Corporation and subsidiaries	$	(367.1)	$	319.2	$	(199.1)	$	551.8
Weighted average number of common shares outstanding	74.6		74.9		74.6		74.9
Dilutive SSARs and RSUs	0.1		0.1		0.1		0.1
Weighted average number of common shares and common share equivalents outstanding for purposes of computing diluted net income per share	74.7		75.0		74.7		75.0
Diluted net income (loss) per share attributable to AGCO Corporation and subsidiaries	$	(4.92)	$	4.26	$	(2.67)	$	7.36

Restructuring Expenses (Narrative) (Details) - 2024 Restructuring Program - One-time Termination Benefits $ in Millions	Jun. 24, 2024 USD ($)
Minimum
Restructuring Cost and Reserve [Line Items]
Expected charges to be incurred	$ 150.0
Maximum
Restructuring Cost and Reserve [Line Items]
Expected charges to be incurred	$ 200.0

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ (368.9)	$ 319.2	$ (200.9)	$ 551.8
Other comprehensive income (loss):
Foreign currency translation adjustments	(136.1)	74.2	(188.1)	118.6
Defined benefit pension plans, net of tax	1.9	1.9	3.6	3.7
Deferred gains and losses on derivatives, net of tax	(2.0)	(4.5)	4.9	(4.0)
Other comprehensive income (loss)	(136.2)	71.6	(179.6)	118.3
Comprehensive income (loss)	(505.1)	390.8	(380.5)	670.1
Comprehensive loss attributable to noncontrolling interests	2.8	0.0	2.8	0.0
Comprehensive income (loss) attributable to AGCO Corporation and subsidiaries	$ (502.3)	$ 390.8	$ (377.7)	$ 670.1

Goodwill and Other Intangible Assets (Tables)

6 Months Ended

Jun. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

Changes in the carrying amount of goodwill during the six months ended June 30, 2024 are summarized as follows (in millions):


	North America		South America		Europe/Middle East		Asia/Pacific/Africa		Unallocated(1)		Consolidated
Balance as of December 31, 2023	$	668.2	$	93.5	$	458.5	$	113.2	$	—	$	1,333.4
Acquisitions	—		—		8.7		—		1,803.3		1,812.0

Reclassified to held for sale(2)	(524.0)		(12.8)		(61.1)		(110.3)		—		(708.2)
Foreign currency translation	(1.4)		(11.8)		(13.0)		(2.9)		(0.3)		(29.4)
Balance as of June 30, 2024	$	142.8	$	68.9	$	393.1	$	—	$	1,803.0	$	2,407.8

____________________________________

(1) Unallocated goodwill relates to the PTx Trimble joint venture transaction. Refer to Note 2 for additional information.

(2) Reclassification resulting from the Company's classification of the G&P business as held for sale, $494.6 million is included within “Loss on business held for sale” in the Company’s Condensed Consolidated Statements of Operations and $213.6 million is included within “Assets held for sale” in the Company’s Condensed Consolidated Balance Sheets. Refer to Note 3 for additional information.

Schedule of Acquired Finite-Lived Intangible Assets

Changes in the carrying amount of acquired intangible assets during the six months ended June 30, 2024 are summarized as follows (in millions):


Gross carrying amounts:	Trademarks and Trade Names		Customer Relationships		Patents and Technology		Other		Total
Balance as of December 31, 2023	$	194.3	$	580.7	$	148.2	$	6.3	$	929.5
Acquisitions	10.7		39.4		453.0		41.9		545.0

Reclassified to held for sale(1)	(122.0)		(417.3)		(58.7)		—		(598.0)
Foreign currency translation	(3.5)		(11.6)		(6.6)		(0.1)		(21.8)
Balance as of June 30, 2024	$	79.5	$	191.2	$	535.9	$	48.1	$	854.7


Accumulated amortization:	Trademarks and Trade Names		Customer Relationships		Patents and Technology		Other		Total
Balance as of December 31, 2023	$	114.5	$	483.4	$	113.3	$	1.7	$	712.9
Amortization expense	5.5		31.6		5.0		3.5		45.6

Reclassified to held for sale(1)	(73.9)		(367.4)		(48.9)		—		(490.2)
Foreign currency translation	(2.2)		(23.1)		7.6		(0.1)		(17.8)
Balance as of June 30, 2024	$	43.9	$	124.5	$	77.0	$	5.1	$	250.5

(1) Reclassification resulting from the Company's classification of the G&P business as held for sale. Refer to Note 3 for additional information.

Schedule of Acquired Indefinite-Lived Intangible Assets


Indefinite-lived intangible assets:	Trademarks and Trade Names

Balance as of December 31, 2023	$	85.9
Foreign currency translation	(1.1)
Balance as of June 30, 2024	$	84.8

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482548/350-20-55-24

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
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-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
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-Name Accounting Standards Codification
-Section 50
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-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

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-Section 50
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-2

+ Details

Pension and Postretirement Benefit Plans (Tables)

6 Months Ended

Jun. 30, 2024

Retirement Benefits [Abstract]

Net Pension and Postretirement Cost

Net periodic pension and postretirement benefit cost for the Company’s defined pension and postretirement benefit plans for the three and six months ended June 30, 2024 and 2023 are set forth below (in millions):


	Three Months Ended June 30,				Six Months Ended June 30,
Pension benefits	2024		2023		2024		2023
Service cost	$	2.1	$	2.4	$	4.2	$	4.8
Interest cost	6.9		7.3		13.9		14.5
Expected return on plan assets	(7.7)		(7.4)		(15.4)		(14.6)
Amortization of net actuarial losses	2.2		2.2		4.4		4.2
Amortization of prior service cost	0.4		0.4		0.7		0.7

Net periodic pension cost	$	3.9	$	4.9	$	7.8	$	9.6


	Three Months Ended June 30,				Six Months Ended June 30,
Postretirement benefits	2024		2023		2024		2023
Service cost	$	—	$	—	$	0.1	$	—
Interest cost	0.4		0.3		0.8		0.6

Amortization of prior service cost	—		—		0.1		0.1
Net periodic postretirement benefit cost	$	0.4	$	0.3	$	1.0	$	0.7

Pension and Postretirement Benefit Plans (Net Pension And Postretirement Cost) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Pension benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 2.1	$ 2.4	$ 4.2	$ 4.8
Interest cost	6.9	7.3	13.9	14.5
Expected return on plan assets	(7.7)	(7.4)	(15.4)	(14.6)
Amortization of net actuarial losses	2.2	2.2	4.4	4.2
Amortization of prior service cost	0.4	0.4	0.7	0.7
Net periodic cost	3.9	4.9	7.8	9.6
Postretirement benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost	0.0	0.0	0.1	0.0
Interest cost	0.4	0.3	0.8	0.6
Amortization of prior service cost	0.0	0.0	0.1	0.1
Net periodic cost	$ 0.4	$ 0.3	$ 1.0	$ 0.7

Acquisitions (Fair Values of the Assets Acquired, Liabilities Assumed and Noncontrolling Interests) (Details) $ in Millions	Jun. 30, 2024 USD ($)	Apr. 01, 2024 USD ($) year	Dec. 31, 2023 USD ($)
Business Acquisition [Line Items]
Goodwill	$ 2,407.8		$ 1,333.4
OneAg
Business Acquisition [Line Items]
Cash		$ 6.3
Accounts receivable		12.3
Inventories		58.9
Other current assets		3.5
Property, plant and equipment		21.6
Deferred tax assets		0.1
Right-of-use lease assets		2.4
Other assets (non-current)		0.1
Intangible assets		545.0
Goodwill		1,803.3
Total assets acquired		2,453.5
Accounts payable		(2.1)
Accrued expenses		(11.3)
Other current liabilities		(14.0)
Operating lease liabilities		(1.6)
Deferred tax liabilities		(4.0)
Other noncurrent liabilities		(9.6)
Total liabilities assumed		(42.6)
Redeemable noncontrolling interests		(499.4)
Net assets acquired		$ 1,911.5
OneAg \| Measurement Input, Exercise Date (in years)
Business Acquisition [Line Items]
Put and call options measurement input \| year		3

Stockholders' Equity (Changes in Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance beginning of period	$ 4,755.2	$ 4,132.9	$ 4,656.8	$ 3,882.6
Other comprehensive income (loss)	(136.2)	71.6	(179.6)	118.3
Balance end of period	4,053.9	4,139.0	4,053.9	4,139.0
Defined Benefit Pension Plans
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance beginning of period			(238.6)
Other comprehensive income (loss) before reclassifications			0.0
Net losses reclassified from accumulated other comprehensive loss			3.6
Other comprehensive income (loss)			3.6
Balance end of period	(235.0)		(235.0)
Deferred Net (Losses) Gains on Derivatives
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance beginning of period	6.1		(0.8)
Other comprehensive income (loss) before reclassifications	(3.5)		1.1
Net losses reclassified from accumulated other comprehensive loss	1.5		3.8
Other comprehensive income (loss)			4.9
Balance end of period	4.1		4.1
Cumulative Translation Adjustment
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance beginning of period			(1,468.7)
Other comprehensive income (loss) before reclassifications			(187.1)
Net losses reclassified from accumulated other comprehensive loss			0.0
Other comprehensive income (loss)			(187.1)
Balance end of period	(1,655.8)		(1,655.8)
Accumulated Other Comprehensive Loss
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance beginning of period	(1,751.5)	(1,756.4)	(1,708.1)	(1,803.1)
Other comprehensive income (loss) before reclassifications			(186.0)
Net losses reclassified from accumulated other comprehensive loss			7.4
Other comprehensive income (loss)			(178.6)
Balance end of period	$ (1,886.7)	$ (1,684.8)	$ (1,886.7)	$ (1,684.8)

- Definition

Amount after tax, before reclassification adjustments of other comprehensive income (loss).

+ References + Details

- Definition

Amount after tax and reclassification adjustments of other comprehensive income (loss).

+ References

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- Definition

Amount after tax of reclassification adjustments of other comprehensive income (loss).

+ References + Details

- Definition

Amount of equity (deficit) attributable to parent and noncontrolling interest. Excludes temporary equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Basis of Presentation	6 Months Ended
Basis of Presentation	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	BASIS OF PRESENTATION The condensed consolidated financial statements of AGCO Corporation and its subsidiaries (the “Company” or “AGCO”) included herein have been prepared in accordance with United States generally accepted accounting principles (“U.S. GAAP”) for interim financial information and the rules and regulations of the Securities and Exchange Commission. In the opinion of management, the accompanying unaudited condensed consolidated financial statements reflect all adjustments, which are of a normal recurring nature, necessary to present fairly the Company’s financial position, results of operations, comprehensive income (loss) and cash flows at the dates and for the periods presented. These condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and the notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023. Results for interim periods are not necessarily indicative of the results for the year. Certain prior-period amounts have been reclassified in the accompanying condensed consolidated financial statements and notes thereto in order to conform to the current period presentation. The Company has a wholly-owned subsidiary in Turkey that distributes agricultural equipment and replacement parts. On the basis of available data related to inflation indices and as a result of the devaluation of the Turkish lira relative to the United States dollar, the Turkish economy was determined to be highly inflationary during 2022. A highly inflationary economy is one where the cumulative inflation rate for the three years preceding the beginning of the reporting period, including interim reporting periods, is in excess of 100 percent. For subsidiaries operating in highly inflationary economies, the United States dollar is the functional currency. Remeasurement adjustments for financial statements in highly inflationary economies and other transactional exchange gains and losses are reported in "Other expense, net" within the Company's Condensed Consolidated Statements of Operations. For the six months ended and as of June 30, 2024, the Company's wholly-owned subsidiary in Turkey had net sales of approximately $263.0 million and total assets of approximately 8.2 billion Turkish lira (or approximately $248.7 million). The monetary assets and liabilities denominated in the Turkish lira were approximately 7.6 billion Turkish lira (or approximately $232.0 million) and approximately 4.6 billion Turkish lira (or approximately $140.4 million), respectively, as of June 30, 2024. The monetary assets and liabilities were remeasured into United States dollar based on exchange rates as of June 30, 2024. The Company has a wholly-owned subsidiary in Argentina that assembles and distributes agricultural equipment and replacement parts. In recent years, the Argentine government has substantially limited the ability of companies to transfer funds out of Argentina. As a consequence of these limitations, the spread between the official government exchange rate and the exchange rates resulting from certain capital market operations, usually effected to obtain United States dollars, has broadened significantly. Argentina's economy was determined to be highly inflationary during 2018. In December 2023, the central bank of Argentina adjusted the official foreign currency exchange rate for the Argentine peso, significantly devaluing the currency relative to the United States dollar. For the six months ended and as of June 30, 2024, the Company's wholly-owned subsidiary in Argentina had net sales of approximately $99.5 million and total assets of approximately 238.7 billion pesos (or approximately $262.6 million). The monetary assets of the Company's operations in Argentina denominated in pesos at the official government rate were approximately 87.2 billion pesos (or approximately $95.9 million), inclusive of approximately 34.3 billion pesos (or approximately $37.7 million) in cash and cash equivalents, as of June 30, 2024. The monetary liabilities of the Company's operations in Argentina denominated in pesos at the official government rate were approximately 14.0 billion pesos (or approximately $15.4 million) as of June 30, 2024. The monetary assets and liabilities were remeasured into United States dollar based on exchange rates as of June 30, 2024. The Company's finance joint venture in Argentina, AGCO Capital Argentina S.A. ("AGCO Capital"), had net monetary assets denominated in pesos at the official government rate of approximately 5.1 billion (or approximately $5.6 million) as of June 30, 2024. All gains and losses resulting from AGCO Capital's remeasurement of its monetary assets and liabilities are reported as part of AGCO Capital's net income, our share of which is included in “Equity in net earnings of affiliates” within our Condensed Consolidated Statements of Operations. New Accounting Pronouncements to be Adopted In November 2023, the FASB issued ASU 2023-07, "Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures," which expands annual and interim disclosure requirements and requires entities to disclose its significant segment expense categories and amounts for each reportable segment. The ASU is effective for public entities for fiscal years beginning after December 15, 2023, and interim periods in fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the potential effect that the updated standard will have on its financial statement disclosures. In December 2023, the FASB issued ASU 2023-09, "Income Taxes (Topic 740): Improvements to Income Tax Disclosures". The standard requires disaggregated information about a reporting entity’s effective tax rate reconciliation as well as information on income taxes paid. The requirements will be effective for annual periods beginning after December 15, 2024. The guidance will be applied on a prospective basis with the option to apply the standard retrospectively. Early adoption is permitted. The Company is currently evaluating the potential effect that the updated standard will have on its financial statement disclosures.

Goodwill and Other Intangible Assets (Schedule of Goodwill) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Goodwill [Roll Forward]
Goodwill at beginning of period			$ 1,333.4
Acquisitions			1,812.0
Reclassified to held for sale			(708.2)
Foreign currency translation			(29.4)
Goodwill at end of period	$ 2,407.8		2,407.8
Loss on business held for sale	494.6	$ 0.0	494.6	$ 0.0
Disposal Group, Held-for-Sale, Not Discontinued Operations \| Grain & Protein (G&P)
Goodwill [Roll Forward]
Loss on business held for sale	494.6
Goodwill included in held for sale	213.6		213.6
North America
Goodwill [Roll Forward]
Goodwill at beginning of period			668.2
Acquisitions			0.0
Reclassified to held for sale			(524.0)
Foreign currency translation			(1.4)
Goodwill at end of period	142.8		142.8
South America
Goodwill [Roll Forward]
Goodwill at beginning of period			93.5
Acquisitions			0.0
Reclassified to held for sale			(12.8)
Foreign currency translation			(11.8)
Goodwill at end of period	68.9		68.9
Europe/Middle East
Goodwill [Roll Forward]
Goodwill at beginning of period			458.5
Acquisitions			8.7
Reclassified to held for sale			(61.1)
Foreign currency translation			(13.0)
Goodwill at end of period	393.1		393.1
Asia/Pacific/Africa
Goodwill [Roll Forward]
Goodwill at beginning of period			113.2
Acquisitions			0.0
Reclassified to held for sale			(110.3)
Foreign currency translation			(2.9)
Goodwill at end of period	0.0		0.0
Unallocated
Goodwill [Roll Forward]
Goodwill at beginning of period			0.0
Acquisitions			1,803.3
Reclassified to held for sale			0.0
Foreign currency translation			(0.3)
Goodwill at end of period	$ 1,803.0		$ 1,803.0

Derivative Instruments and Hedging Activities

6 Months Ended

Jun. 30, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments and Hedging Activities

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES

Derivative Transactions Designated as Hedging Instruments

Cash Flow Hedges

Foreign Currency Contracts

The Company uses cash flow hedges to minimize the variability in cash flows of assets or liabilities or forecasted transactions caused by fluctuations in foreign currency exchange rates. The changes in the fair values of these cash flow hedges are recorded in accumulated 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 Company designates certain foreign currency contracts as cash flow hedges of expected future sales and purchases. The total notional value of derivatives that were designated as cash flow hedges was approximately $386.6 million and $262.2 million as of June 30, 2024 and December 31, 2023, respectively.

Steel Commodity Contracts

The Company designates certain steel commodity contracts as cash flow hedges of expected future purchases of steel. The total notional value of derivatives that were designated as cash flow hedges was approximately $0.1 million and $2.5 million as of June 30, 2024 and December 31, 2023, respectively.

Interest Rate Risk

The Company entered into treasury rate locks in early March 2024 to fix the interest rate for the 2034 Notes issued on March 21, 2024. The derivative position settled on March 28, 2024 with a cash settlement that offset changes in the benchmark treasury rate between the execution of the treasury rate lock and the debt pricing date for the 2034 Notes. This treasury rate lock was designated as a cash flow hedge and the gain at termination of $8.2 million was recognized in accumulated other comprehensive loss. The amount recognized in accumulated other comprehensive loss is reclassified to interest expense as interest payments are made on the 2034 Notes through the maturity date.

The following tables summarize the after-tax impact that changes in the fair value of derivatives designated as cash flow hedges had on accumulated other comprehensive loss and net income (loss) during the three and six months ended June 30, 2024 and 2023 (in millions):


			Recognized in Net Income (Loss)
Three Months Ended June 30,	Gain (Loss) Recognized in Accumulated Other Comprehensive Loss		Classification of Gain (Loss)	Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Income		Total Amount of the Line Item in the Condensed Consolidated Statements of Operations Containing Hedge Gains (Losses)
2024
Foreign currency contracts(1)	$	(3.5)	Cost of goods sold	$	(1.5)	$	2,409.1
Commodity contracts(2)	—		Cost of goods sold	(0.2)		$	2,409.1
Treasury rate locks	—		Interest expense, net	0.2		$	29.9
Total	$	(3.5)		$	(1.5)
2023
Foreign currency contracts	$	(5.0)	Cost of goods sold	$	(0.8)	$	2,817.0
Commodity contracts	(0.7)		Cost of goods sold	(0.4)		$	2,817.0
Total	$	(5.7)		$	(1.2)



			Recognized in Net Income (Loss)
Six Months Ended June 30,	Gain (Loss) Recognized in Accumulated Other Comprehensive Loss		Classification of Gain (Loss)	Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Income		Total Amount of the Line Item in the Condensed Consolidated Statements of Operations Containing Hedge Gains (Losses)
2024
Foreign currency contracts(1)	$	(4.7)	Cost of goods sold	$	(3.8)	$	4,568.0
Commodity contracts(2)	(0.3)		Cost of goods sold	(0.2)		$	4,568.0
Treasury rate locks	6.1		Interest expense, net	0.2		$	31.8
Total	$	1.1		$	(3.8)
2023
Foreign currency contracts	$	(6.9)	Cost of goods sold	$	(2.6)	$	5,295.6
Commodity contracts	0.2		Cost of goods sold	(0.1)		$	5,295.6
Total	$	(6.7)		$	(2.7)

____________________________________

(1) The outstanding contracts as of June 30, 2024 range in maturity through December 2024.

(2) As of June 30, 2024, there were no outstanding contracts with future maturity dates.

The following table summarizes the activity in accumulated other comprehensive loss related to the derivatives held by the Company during the three months ended June 30, 2024 (in millions):


	Before-Tax Amount		Income Tax Expense (Benefit)		After-Tax Amount
Accumulated derivative net gains as of March 31, 2024	$	8.1	$	2.0	$	6.1
Net changes in fair value of derivatives	(2.8)		0.7		(3.5)
Net losses reclassified from accumulated other comprehensive loss into income	1.5		—		1.5
Accumulated derivative net gains as of June 30, 2024	$	6.8	$	2.7	$	4.1

The following table summarizes the activity in accumulated other comprehensive loss related to the derivatives held by the Company during the six months ended June 30, 2024 (in millions):



	Before-Tax Amount		Income Tax Expense (Benefit)		After-Tax Amount
Accumulated derivative net losses as of December 31, 2023	$	(1.3)	$	(0.5)	$	(0.8)
Net changes in fair value of derivatives	4.0		2.9		1.1
Net losses reclassified from accumulated other comprehensive loss into income	4.1		0.3		3.8
Accumulated derivative net gains as of June 30, 2024	$	6.8	$	2.7	$	4.1

As of June 30, 2024, approximately $0.9 million gain and $0.1 million loss of realized derivatives, before taxes, remain in accumulated other comprehensive loss related to foreign currency contracts and commodity contracts, respectively, associated with inventory that had not yet been sold.

Net Investment Hedges

The Company uses non-derivative and derivative instruments to hedge a portion of its net investment in foreign operations against adverse movements in exchange 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 de-designated from a net investment hedge relationship, changes in the value of the foreign currency denominated debt are recorded in earnings through the maturity date.

On January 29, 2021, the Company entered into a cross currency swap contract as a hedge of its net investment in foreign operations to offset foreign currency translation gains or losses on the net investment. The cross currency swap has an expiration date of January 29, 2028. At maturity of the cross currency swap contract, the Company will deliver the notional amount of approximately €247.9 million (or approximately $265.3 million as of June 30, 2024) and will receive $300.0 million from the counterparties. The Company will receive quarterly interest payments from the counterparties based on a fixed interest rate until the maturity of the cross currency swap.

During the six months ended June 30, 2023, the Company designated €150.0 million of its multi-currency revolving credit facility maturing December 2027 as a hedge of its net investment in foreign operations to offset foreign currency translation gains or losses on the net investment. This portion of the multi-currency revolving credit facility was repaid in December 2023. The Company recognized the change in fair value of the foreign currency denominated debt designated as a net investment hedge, a gain of $0.1 million and $1.0 million, net of tax, in accumulated other comprehensive loss during the three and six months ended June 30, 2023, respectively.

The following table summarizes the notional values of the instrument designated as a net investment hedge (in millions):


	Notional Amount as of
	June 30, 2024		December 31, 2023
Cross currency swap contract	$	300.0	$	300.0

The following table summarizes the changes in the fair value of the cross currency swap contract designated as a net investment hedge during the three and six months ended June 30, 2024 and 2023 (in millions):


	Gain (Loss) Recognized in Accumulated Other Comprehensive Loss for the Three Months Ended						Gain (Loss) Recognized in Accumulated Other Comprehensive Loss for the Six Months Ended
	Before-Tax Amount		Income Tax Expense (Benefit)		After-Tax Amount			Before-Tax Amount		Income Tax Expense (Benefit)		After-Tax Amount
June 30, 2024	$	3.4	$	0.8	$	2.6		$	8.1	$	2.0	$	6.1
June 30, 2023	(5.7)		(1.5)		(4.2)			(6.7)		(1.7)		(5.0)

Derivative Transactions Not Designated as Hedging Instruments

The Company enters into foreign currency contracts to economically hedge a portion of its receivables and payables on the Company and its subsidiaries’ balance sheets that are denominated in foreign currencies other than the functional currency. These contracts are classified as non-designated derivative instruments. Gains and losses on such contracts are substantially offset by losses and gains on the remeasurement of the underlying asset or liability being hedged and are immediately recognized into earnings. As of June 30, 2024 and December 31, 2023, the Company had outstanding foreign currency contracts with a notional amount of approximately $2,645.5 million and $3,125.1 million, respectively.

The following table summarizes the results on net income of derivatives not designated as hedging instruments (in millions):


		Gain (Loss) Recognized in Net Income for the Three Months Ended				Gain (Loss) Recognized in Net Income for the Six Months Ended
	Classification of Gain (Loss)	June 30, 2024		June 30, 2023		June 30, 2024		June 30, 2023
Foreign currency contracts	Other expense, net	$	(33.5)	$	37.9	$	(41.8)	$	49.1

The table below sets forth the fair value of derivative instruments as of June 30, 2024 (in millions):


	Asset Derivatives as of June 30, 2024			Liability Derivatives as of June 30, 2024
	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Derivative instruments designated as hedging instruments:
Foreign currency contracts	Other current assets	$	4.4	Other current liabilities	$	6.2


Cross currency swap contract	Other noncurrent assets	28.4		Other noncurrent liabilities	—
Derivative instruments not designated as hedging instruments:
Foreign currency contracts(1)	Other current assets	2.1		Other current liabilities	10.8
Foreign currency contracts	Current assets held for sale	0.2		Current liabilities held for sale	0.1
Total derivative instruments		$	35.1		$	17.1

__________________________________

(1) The outstanding contracts as of June 30, 2024 range in maturity through August 2024.

The table below sets forth the fair value of derivative instruments as of December 31, 2023 (in millions):


	Asset Derivatives as of December 31, 2023			Liability Derivatives as of December 31, 2023
	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Derivative instruments designated as hedging instruments:
Foreign currency contracts	Other current assets	$	1.3	Other current liabilities	$	1.2

Cross currency swap contract	Other noncurrent assets	20.3		Other noncurrent liabilities	—
Derivative instruments not designated as hedging instruments:
Foreign currency contracts(1)	Other current assets	17.1		Other current liabilities	12.8
Total derivative instruments		$	38.7		$	14.0

___________________________________

(1) The outstanding contracts as of December 31, 2023 range in maturity through February 2024.

Condensed Consolidated Statements of Operations - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Statement [Abstract]
Net sales	$ 3,246.6	$ 3,822.7	$ 6,175.3	$ 7,156.2
Cost of goods sold	2,409.1	2,817.0	4,568.0	5,295.6
Gross profit	837.5	1,005.7	1,607.3	1,860.6
Operating expenses:
Selling, general and administrative expenses	379.8	350.3	730.2	682.1
Engineering expenses	137.8	138.8	268.7	258.4
Amortization expense	31.7	14.1	45.6	28.9
Impairment charges	5.1	0.0	5.1	0.0
Restructuring expenses	30.2	6.1	31.2	7.5
Loss on business held for sale	494.6	0.0	494.6	0.0
Income (loss) from operations	(241.7)	496.4	31.9	883.7
Interest expense, net	29.9	5.8	31.8	6.3
Other expense, net	65.3	78.0	116.1	128.4
Income (loss) before income taxes and equity in net earnings of affiliates	(336.9)	412.6	(116.0)	749.0
Income tax provision	41.6	111.0	110.7	231.2
Income (loss) before equity in net earnings of affiliates	(378.5)	301.6	(226.7)	517.8
Equity in net earnings of affiliates	9.6	17.6	25.8	34.0
Net income (loss)	(368.9)	319.2	(200.9)	551.8
Net loss attributable to noncontrolling interests	1.8	0.0	1.8	0.0
Net income (loss) attributable to AGCO Corporation and subsidiaries	$ (367.1)	$ 319.2	$ (199.1)	$ 551.8
Net income (loss) per common share attributable to AGCO Corporation and subsidiaries:
Basic (in dollars per share)	$ (4.92)	$ 4.26	$ (2.67)	$ 7.37
Diluted (in dollars per share)	(4.92)	4.26	(2.67)	7.36
Cash dividends declared and paid per common share (in dollars per share)	$ 2.79	$ 5.28	$ 3.08	$ 5.52
Weighted average number of common and common equivalent shares outstanding:
Basic (in shares)	74.6	74.9	74.6	74.9
Diluted (in shares)	74.7	75.0	74.7	75.0

Indebtedness (Tables)

6 Months Ended

Jun. 30, 2024

Debt Disclosure [Abstract]

Schedule of Debt

Long-term debt, excluding amounts classified as held for sale, consisted of the following at June 30, 2024 and December 31, 2023 (in millions):


	June 30, 2024		December 31, 2023
Credit facility, expires 2027	$	760.0	$	—
Term Loan Facility borrowings	500.0		—
5.450% Senior notes due 2027	400.0		—
5.800% Senior notes due 2034	700.0		—
0.800% Senior notes due 2028	642.0		664.0
1.002% EIB Senior term loan due 2025	267.5		276.7
EIB Senior term loan due 2029	267.5		276.7
EIB Senior term loan due 2030	181.9		—
Senior term loans due between 2025 and 2028	156.8		162.1
Other long-term debt	1.0		3.1
Debt issuance costs	(13.0)		(3.1)
	3,863.7		1,379.5

Less:
Current portion of other long-term debt	(1.0)		(2.3)
1.002% EIB Senior term loan due 2025	(267.5)		—
Total long-term indebtedness	$	3,595.2	$	1,377.2

Product Warranty

6 Months Ended

Jun. 30, 2024

Guarantees and Product Warranties [Abstract]

Product Warranty

PRODUCT WARRANTY

The warranty reserve activity for the three and six months ended June 30, 2024 and 2023, including deferred revenue associated with the Company's extended warranties that have been sold, was as follows (in millions):


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Balance at beginning of period	$	793.1	$	677.0	$	800.8	$	640.0
Acquisitions	4.1		—		4.1		—
Accruals for warranties issued	93.8		107.8		185.9		197.5
Settlements made and deferred revenue recognized	(93.6)		(63.4)		(175.6)		(127.9)
Reclassified to held for sale(1)	(11.6)		—		(11.6)		—
Foreign currency translation	(11.2)		5.8		(29.0)		17.6
Balance at June 30	$	774.6	$	727.2	$	774.6	$	727.2

____________________________________

(1) Reclassification resulting from the Company's classification of the G&P business as held for sale. Refer to Note 3 for additional information.

The Company’s agricultural equipment products generally are warranted against defects in material and workmanship for a period of one to four years. The Company accrues for future warranty costs at the time of sale based on historical warranty experience. The Company's extended warranty period for the majority of products ranges from three to five years. Revenue is recognized for the extended warranty contracts on a straight-line basis, which the Company believes approximates the cost expected to be incurred in satisfying the obligations, over the extended warranty period. Approximately $635.6 million, $679.9 million and $613.6 million of warranty reserves are included in “Accrued expenses” in the Company’s Condensed Consolidated Balance Sheets as of June 30, 2024, December 31, 2023 and June 30, 2023, respectively. Approximately $139.0 million, $120.9 million and $113.6 million of warranty reserves are included in “Other noncurrent liabilities” in the Company’s Condensed Consolidated Balance Sheets as of June 30, 2024, December 31, 2023, and June 30, 2023, respectively.

The Company recognizes potential recoveries of the costs associated with warranties it provides when the collection is probable. When specifics of the recovery have been agreed upon with the Company’s suppliers through the confirmation of liability for the recovery, the Company records the recovery within “Accounts and notes receivable, net” in the Company's Condensed Consolidated Balance Sheets. Estimates of the amount of warranty claim recoveries to be received from the Company’s suppliers based upon contractual supplier arrangements are recorded within “Other current assets” in the Company's Condensed Consolidated Balance Sheets.

Restructuring Expenses

6 Months Ended

Jun. 30, 2024

Restructuring and Related Activities [Abstract]

Restructuring Expenses

RESTRUCTURING EXPENSES

On June 24, 2024, the Company announced a restructuring program (the “Program”) in response to increased weakening demand in the agriculture industry. The initial phase of the Program is focused on further reducing structural costs, streamlining the Company’s workforce and enhancing global efficiencies related to changing the Company’s operating model for certain corporate and back-office functions and better leveraging technology and global centers of excellence. The Company estimates that it will incur charges for one-time termination benefits of approximately $150.0 million to $200.0 million in connection with this phase of the Program, primarily consisting of cash charges related to severance payments, employees benefits and related costs. The Company expects the majority of these cash charges will be incurred in 2024 and the first half of 2025.

Additionally, in recent years, the Company announced and initiated several actions to rationalize employee headcount in various manufacturing facilities and administrative offices located in the U.S., Europe, South America, Africa and Asia, in order to reduce costs in response to fluctuating global market demand.

Restructuring expenses activity, which relates to severance and other related costs, during the three and six months ended June 30, 2024 is summarized as follows (in millions):



Balance as of December 31, 2023	$	7.8
First quarter 2024 provision	1.1
First quarter 2024 cash activity	(3.4)
Foreign currency translation	(0.2)
Balance as of March 31, 2024	$	5.3
Second quarter 2024 provision	30.5
Second quarter 2024 provision reversal	(0.4)
Second quarter 2024 cash activity	(2.1)
Reclassified to held for sale(1)	(0.4)
Foreign currency translation	(0.3)
Balance as of June 30, 2024	$	32.6

____________________________________

(1) Reclassification resulting from the Company's classification of the G&P business as held for sale. Refer to Note 3 for additional information.

Acquisitions (Tables)

6 Months Ended

Jun. 30, 2024

Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]

Schedule of Purchase Consideration

The estimated purchase consideration transferred consisted of the following (in millions):


	Purchase Consideration
Total cash consideration for OneAg	$	1,954.0
Estimated working capital and other adjustments	(45.6)
Equity transaction associated with JCA noncontrolling interest (a)	3.1
Total purchase consideration	$	1,911.5

(a) Equity transaction associated with JCA noncontrolling interest

The transfer of the 15% interest in AGCO's JCA business is accounted for as an equity transaction. The adjustment to additional paid-in-capital represents the excess of the fair value of the JCA business transferred over its historical carrying amount. The fair value of the JCA business was determined using a discounted cash flow model.

Schedule of Assets Acquired, Liabilities Assumed and Noncontrolling interests

The preliminary fair values of the assets acquired, liabilities assumed and noncontrolling interests as of the acquisition date are presented in the following table (in millions):


	As of April 1, 2024
Cash	$	6.3
Accounts receivable	12.3
Inventories	58.9
Other current assets	3.5
Property, plant and equipment	21.6
Deferred tax assets	0.1
Right-of-use lease assets	2.4
Other assets (non-current)	0.1
Intangible assets	545.0
Goodwill	1,803.3
Total assets acquired	$	2,453.5

Accounts payable	$	(2.1)
Accrued expenses	(11.3)
Other current liabilities	(14.0)
Operating lease liabilities	(1.6)
Deferred tax liabilities	(4.0)
Other noncurrent liabilities	(9.6)
Total liabilities assumed	$	(42.6)

Redeemable noncontrolling interests (b)	(499.4)

Net assets acquired	$	1,911.5

(b) Redeemable noncontrolling interests

Trimble has a put option to sell its noncontrolling interests to the Company, and the Company has a call option to redeem Trimble's noncontrolling interests. The first exercisable date of both the put and call options is April 1, 2027. The put and call options prices are based on multiples of EBITDA, subject to the terms of the Agreement. We estimated the preliminary fair value of the put and call options using a Monte Carlo simulation along with a Black Scholes model assuming an exercise date of three years from the close of the transaction, the first allowable exercise date. We evaluated the put and call options for the redeemable noncontrolling interests under ASC 480, Distinguishing Liabilities from Equity, and classified the redeemable noncontrolling interests as mezzanine equity based on its redemption features. The amount of the net income or loss attributable to the redeemable noncontrolling interests is recorded in “Net loss attributable to noncontrolling interests” within the Company's Condensed Consolidated Statements of Operations. To the extent the redemption value exceeds the initial fair value recorded, the Company will recognize the entire change in the redemption amount each reporting period in retained earnings.

Schedule of Acquired Intangible Assets

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


	Fair Value		Useful Life(1)

Developed Technology	$	453.0	7 -10 years
Customer Relationships	39.4		20 years
Tradename	10.7		5 years
Favorable contracts	41.9		2 - 7 years
	$	545.0

____________________________________

(1) Based on available information and certain assumptions that we believe are reasonable.

Schedule of Pro Forma Information

The following unaudited pro forma financial information presents the consolidated results of operations as if the OneAg acquisition had occurred on January 1, 2023. OneAg's pre-acquisition results have been added to the Company's historical results. The pro forma results contained in the table below include adjustments for (i) the elimination of sales between the Company and OneAg, (ii) amortization of acquired intangible assets (iii) interest expense and amortization of debt issuance costs related to borrowings under the Senior Notes due 2027 and 2034 and term loan facility and (iv) transaction-related costs as if these had been incurred on January 1, 2023 for the periods ending June 30, 2023 and 2024, respectively.


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Unaudited Consolidated Pro Forma Results
Net sales	$	3,246.6	$	3,948.4	$	6,258.7	$	7,419.5
Net income (loss) attributable to AGCO Corporation and subsidiaries	(354.4)		314.3		(188.7)		515.5

Fair Value of Financial Instruments (Details) € in Millions, $ in Millions	Jun. 30, 2024 USD ($)	Jun. 30, 2024 EUR (€)	Mar. 21, 2024	Dec. 31, 2023 USD ($)	Oct. 06, 2021	Jan. 25, 2019 EUR (€)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	$ 35.1			$ 38.7
Derivative liabilities	17.1			14.0
Senior Notes \| 1.002% EIB Senior term loan due 2025
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate percentage						1.002%
Debt carrying amount	267.5			276.7		€ 250.0
Senior Notes \| 0.800% Senior notes due 2028
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate percentage					0.80%
Debt fair value	564.2	€ 527.3
Debt carrying amount	642.0	€ 600.0		664.0
Senior Notes \| $5.450% Senior notes due 2027
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate percentage			5.45%
Debt fair value	400.8
Debt carrying amount	400.0			0.0
Senior Notes \| $5.800% Senior notes due 2034
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate percentage			5.80%
Debt fair value	697.0
Debt carrying amount	700.0			0.0
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
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	35.1			38.7
Derivative liabilities	17.1			14.0
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

Revenue

6 Months Ended

Jun. 30, 2024

Revenue from Contract with Customer [Abstract]

Revenue

REVENUE

Contract Liabilities

Contract liabilities relate to the following: (1) unrecognized revenues where payment of consideration precedes the Company’s performance with respect to extended warranty and maintenance contracts and where the performance obligation is satisfied over time, (2) unrecognized revenues where payment of consideration precedes the Company’s performance with respect to certain grain storage and protein production systems and where the performance obligation is satisfied over time and (3) unrecognized revenues where payment of consideration precedes the Company’s performance with respect to precision agriculture technology services and where the performance obligation is satisfied over time.

Significant changes in the balance of contract liabilities for the three and six months ended June 30, 2024 and 2023 were as follows (in millions):


	Three Months Ended June 30,
	2024		2023
Balance at beginning of period	$	321.5	$	259.6
Acquisitions	21.0		—
Advance consideration received	53.5		58.0
Revenue recognized during the period for extended warranty contracts, maintenance services and technology services	(45.0)		(26.8)
Revenue recognized during the period related to grain storage and protein production systems	(7.5)		(17.9)
Reclassified to held for sale(1)	(10.5)		—
Foreign currency translation	(1.3)		1.7
Balance at June 30	$	331.7	$	274.6



	Six Months Ended June 30,
	2024		2023
Balance at beginning of period	$	310.7	$	239.0
Acquisitions	21.0		—
Advance consideration received	106.0		116.5
Revenue recognized during the period for extended warranty contracts, maintenance services and technology services	(77.2)		(51.7)
Revenue recognized during the period related to grain storage and protein production systems	(12.2)		(33.9)
Reclassified to held for sale(1)	(10.5)		—
Foreign currency translation	(6.1)		4.7
Balance at June 30	$	331.7	$	274.6

____________________________________

(1) Reclassification resulting from the Company's classification of the G&P business as held for sale. Refer to Note 3 for additional information.

The contract liabilities are classified as either “Accrued expenses” or “Other current liabilities” and “Other noncurrent liabilities” in the Company’s Condensed Consolidated Balance Sheets. During the three and six months ended June 30, 2024, the Company recognized approximately $38.1 million and $71.3 million of revenue that was recorded as a contract liability at the beginning of 2024. During the three and six months ended June 30, 2023, the Company recognized approximately $34.3 million and $70.0 million of revenue that was recorded as a contract liability at the beginning of 2023.

Remaining Performance Obligations

The estimated revenues expected to be recognized in the future related to performance obligations that are unsatisfied (or partially unsatisfied) as of June 30, 2024 are $65.5 million for the remainder of 2024, $116.2 million in 2025, $79.3 million in 2026, $41.1 million in 2027 and $19.9 million thereafter, and relate primarily to extended warranty contracts. The Company applied the practical expedient in ASU 2014-09 and has not disclosed information about remaining performance obligations that have original expected durations of 12 months or less.

Disaggregated Revenue

Net sales for the three months ended June 30, 2024 disaggregated by primary geographical markets and major products consisted of the following (in millions):


	North America(1)		South America		Europe/Middle East(1)		Asia/Pacific/Africa(1)		Consolidated
Primary geographical markets:
United States	$	649.2	$	—	$	—	$	—	$	649.2
Canada	151.9		—		—		—		151.9
Brazil	—		256.2		—		—		256.2
Other South America	—		88.6		—		—		88.6
Germany	—		—		549.3		—		549.3
France	—		—		393.3		—		393.3
United Kingdom and Ireland	—		—		130.3		—		130.3
Finland and Scandinavia	—		—		201.7		—		201.7
Italy	—		—		102.8		—		102.8
Other Europe	—		—		413.8		—		413.8
Middle East and Algeria	—		—		111.8		—		111.8
Africa	—		—		—		22.7		22.7
Asia	—		—		—		62.3		62.3
Australia and New Zealand	—		—		—		72.0		72.0
Mexico, Central America and Caribbean	36.6		4.1		—		—		40.7
	$	837.8	$	348.9	$	1,902.9	$	157.0	$	3,246.6

Major products:
Tractors	$	226.9	$	207.2	$	1,365.0	$	83.8	$	1,882.9
Replacement parts	117.7		39.6		307.2		23.5		488.0
Grain storage and protein production systems	210.6		33.0		33.4		19.1		296.1
Combines, application equipment and other machinery	282.6		69.1		197.4		30.5		579.6
	$	837.8	$	348.9	$	1,902.9	$	157.0	$	3,246.6

____________________________________

(1) Rounding may impact the summation of amounts.

Net sales for the three months ended June 30, 2023 disaggregated by primary geographical markets and major products consisted of the following (in millions):


	North America		South America(1)		Europe/Middle East		Asia/Pacific/Africa		Consolidated(1)
Primary geographical markets:
United States	$	771.7	$	—	$	—	$	—	$	771.7
Canada	184.7		—		—		—		184.7
Brazil	—		512.0		—		—		512.0
Other South America	—		83.4		—		—		83.4
Germany	—		—		453.2		—		453.2
France	—		—		373.7		—		373.7
United Kingdom and Ireland	—		—		172.9		—		172.9
Finland and Scandinavia	—		—		225.9		—		225.9
Italy	—		—		141.6		—		141.6
Other Europe	—		—		512.7		—		512.7
Middle East and Algeria	—		—		110.8		—		110.8
Africa	—		—		—		35.1		35.1
Asia	—		—		—		102.1		102.1
Australia and New Zealand	—		—		—		99.3		99.3
Mexico, Central America and Caribbean	40.4		3.1		—		—		43.5
	$	996.8	$	598.6	$	1,990.8	$	236.5	$	3,822.7

Major products:
Tractors	$	335.4	$	371.7	$	1,393.3	$	131.9	$	2,232.3
Replacement parts	130.2		38.9		299.1		23.5		491.7
Grain storage and protein production systems	189.2		38.9		49.7		35.2		313.0
Combines, application equipment and other machinery	342.0		149.1		248.7		45.9		785.7
	$	996.8	$	598.6	$	1,990.8	$	236.5	$	3,822.7

____________________________________

(1) Rounding may impact the summation of amounts.

Net sales for the six months ended June 30, 2024 disaggregated by primary geographical markets and major products consisted of the following (in millions):



	North America(1)		South America		Europe/Middle East(1)		Asia/Pacific/Africa(1)		Consolidated
Primary geographical markets:
United States	$	1,248.0	$	—	$	—	$	—	$	1,248.0
Canada	251.8		—		—		—		251.8
Brazil	—		485.8		—		—		485.8
Other South America	—		159.8		—		—		159.8
Germany	—		—		1,060.6		—		1,060.6
France	—		—		718.2		—		718.2
United Kingdom and Ireland	—		—		268.7		—		268.7
Finland and Scandinavia	—		—		364.8		—		364.8
Italy	—		—		172.1		—		172.1
Other Europe	—		—		774.4		—		774.4
Middle East and Algeria	—		—		273.2		—		273.2
Africa	—		—		—		46.1		46.1
Asia	—		—		—		136.9		136.9
Australia and New Zealand	—		—		—		140.7		140.7
Mexico, Central America and Caribbean	67.5		6.7		—		—		74.2
	$	1,567.4	$	652.3	$	3,631.9	$	323.7	$	6,175.3

Major products:
Tractors	$	479.6	$	380.1	$	2,625.7	$	174.7	$	3,660.1
Replacement parts	211.7		78.7		584.9		46.4		921.7
Grain storage and protein production systems	339.1		63.4		55.5		43.3		501.3
Combines, application equipment and other machinery	537.0		130.1		365.9		59.2		1,092.2
	$	1,567.4	$	652.3	$	3,631.9	$	323.7	$	6,175.3

____________________________________

(1) Rounding may impact the summation of amounts.

Net sales for the six months ended June 30, 2023 disaggregated by primary geographical markets and major products consisted of the following (in millions):



	North America		South America		Europe/Middle East		Asia/Pacific/Africa		Consolidated
Primary geographical markets:
United States	$	1,531.8	$	—	$	—	$	—	$	1,531.8
Canada	312.6		—		—		—		312.6
Brazil	—		937.5		—		—		937.5
Other South America	—		157.1		—		—		157.1
Germany	—		—		848.6		—		848.6
France	—		—		675.1		—		675.1
United Kingdom and Ireland	—		—		347.8		—		347.8
Finland and Scandinavia	—		—		405.9		—		405.9
Italy	—		—		233.8		—		233.8
Other Europe	—		—		957.0		—		957.0
Middle East and Algeria	—		—		226.4		—		226.4
Africa	—		—		—		65.5		65.5
Asia	—		—		—		188.8		188.8
Australia and New Zealand	—		—		—		185.0		185.0
Mexico, Central America and Caribbean	75.5		7.8		—		—		83.3
	$	1,919.9	$	1,102.4	$	3,694.6	$	439.3	$	7,156.2

Major products:
Tractors	$	647.5	$	654.6	$	2,599.0	$	239.1	$	4,140.2
Replacement parts	232.0		82.3		582.3		50.8		947.4
Grain storage and protein production systems	336.3		79.6		83.8		69.2		568.9
Combines, application equipment and other machinery	704.1		285.9		429.5		80.2		1,499.7
	$	1,919.9	$	1,102.4	$	3,694.6	$	439.3	$	7,156.2

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-9

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-10

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-15

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-13

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org/606/tableOfContent

+ Details

Business Held for Sale (Assets and Liabilities Classified as Held for Sale) (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Current assets held for sale:
Cash and cash equivalents	$ 20.0
Total current assets held for sale	433.0	$ 0.0
Current liabilities held for sale:
Total current liabilities held for sale	270.3	$ 0.0
Disposal Group, Held-for-Sale, Not Discontinued Operations \| Grain & Protein (G&P)
Current assets held for sale:
Cash and cash equivalents	20.0
Accounts and notes receivable, net	203.8
Inventories, net	186.7
Other current assets	22.5
Total current assets held for sale	433.0
Property, plant and equipment, net	98.6
Right-of-use lease assets	15.7
Other assets	8.1
Intangible assets, net	112.3
Goodwill	213.6
Total assets held for sale	881.3
Current liabilities held for sale:
Accounts payable	117.7
Accrued expenses	105.9
Other current liabilities	46.7
Total current liabilities held for sale	270.3
Long-term debt, less current portion and debt issuance costs	0.8
Deferred tax liabilities	11.4
Pension and postretirement health care benefits	0.3
Operating lease liabilities	10.9
Other noncurrent liabilities	4.5
Total liabilities held for sale	298.2
Disposal group, net	$ 583.1

Revenue (Tables)

6 Months Ended

Jun. 30, 2024

Revenue from Contract with Customer [Abstract]

Changes in Contract Liabilities

Significant changes in the balance of contract liabilities for the three and six months ended June 30, 2024 and 2023 were as follows (in millions):


	Three Months Ended June 30,
	2024		2023
Balance at beginning of period	$	321.5	$	259.6
Acquisitions	21.0		—
Advance consideration received	53.5		58.0
Revenue recognized during the period for extended warranty contracts, maintenance services and technology services	(45.0)		(26.8)
Revenue recognized during the period related to grain storage and protein production systems	(7.5)		(17.9)
Reclassified to held for sale(1)	(10.5)		—
Foreign currency translation	(1.3)		1.7
Balance at June 30	$	331.7	$	274.6



	Six Months Ended June 30,
	2024		2023
Balance at beginning of period	$	310.7	$	239.0
Acquisitions	21.0		—
Advance consideration received	106.0		116.5
Revenue recognized during the period for extended warranty contracts, maintenance services and technology services	(77.2)		(51.7)
Revenue recognized during the period related to grain storage and protein production systems	(12.2)		(33.9)
Reclassified to held for sale(1)	(10.5)		—
Foreign currency translation	(6.1)		4.7
Balance at June 30	$	331.7	$	274.6

____________________________________

(1) Reclassification resulting from the Company's classification of the G&P business as held for sale. Refer to Note 3 for additional information.

Disaggregation of Revenue

Net sales for the three months ended June 30, 2024 disaggregated by primary geographical markets and major products consisted of the following (in millions):


	North America(1)		South America		Europe/Middle East(1)		Asia/Pacific/Africa(1)		Consolidated
Primary geographical markets:
United States	$	649.2	$	—	$	—	$	—	$	649.2
Canada	151.9		—		—		—		151.9
Brazil	—		256.2		—		—		256.2
Other South America	—		88.6		—		—		88.6
Germany	—		—		549.3		—		549.3
France	—		—		393.3		—		393.3
United Kingdom and Ireland	—		—		130.3		—		130.3
Finland and Scandinavia	—		—		201.7		—		201.7
Italy	—		—		102.8		—		102.8
Other Europe	—		—		413.8		—		413.8
Middle East and Algeria	—		—		111.8		—		111.8
Africa	—		—		—		22.7		22.7
Asia	—		—		—		62.3		62.3
Australia and New Zealand	—		—		—		72.0		72.0
Mexico, Central America and Caribbean	36.6		4.1		—		—		40.7
	$	837.8	$	348.9	$	1,902.9	$	157.0	$	3,246.6

Major products:
Tractors	$	226.9	$	207.2	$	1,365.0	$	83.8	$	1,882.9
Replacement parts	117.7		39.6		307.2		23.5		488.0
Grain storage and protein production systems	210.6		33.0		33.4		19.1		296.1
Combines, application equipment and other machinery	282.6		69.1		197.4		30.5		579.6
	$	837.8	$	348.9	$	1,902.9	$	157.0	$	3,246.6

____________________________________

(1) Rounding may impact the summation of amounts.

Net sales for the three months ended June 30, 2023 disaggregated by primary geographical markets and major products consisted of the following (in millions):


	North America		South America(1)		Europe/Middle East		Asia/Pacific/Africa		Consolidated(1)
Primary geographical markets:
United States	$	771.7	$	—	$	—	$	—	$	771.7
Canada	184.7		—		—		—		184.7
Brazil	—		512.0		—		—		512.0
Other South America	—		83.4		—		—		83.4
Germany	—		—		453.2		—		453.2
France	—		—		373.7		—		373.7
United Kingdom and Ireland	—		—		172.9		—		172.9
Finland and Scandinavia	—		—		225.9		—		225.9
Italy	—		—		141.6		—		141.6
Other Europe	—		—		512.7		—		512.7
Middle East and Algeria	—		—		110.8		—		110.8
Africa	—		—		—		35.1		35.1
Asia	—		—		—		102.1		102.1
Australia and New Zealand	—		—		—		99.3		99.3
Mexico, Central America and Caribbean	40.4		3.1		—		—		43.5
	$	996.8	$	598.6	$	1,990.8	$	236.5	$	3,822.7

Major products:
Tractors	$	335.4	$	371.7	$	1,393.3	$	131.9	$	2,232.3
Replacement parts	130.2		38.9		299.1		23.5		491.7
Grain storage and protein production systems	189.2		38.9		49.7		35.2		313.0
Combines, application equipment and other machinery	342.0		149.1		248.7		45.9		785.7
	$	996.8	$	598.6	$	1,990.8	$	236.5	$	3,822.7

____________________________________

(1) Rounding may impact the summation of amounts.

Net sales for the six months ended June 30, 2024 disaggregated by primary geographical markets and major products consisted of the following (in millions):



	North America(1)		South America		Europe/Middle East(1)		Asia/Pacific/Africa(1)		Consolidated
Primary geographical markets:
United States	$	1,248.0	$	—	$	—	$	—	$	1,248.0
Canada	251.8		—		—		—		251.8
Brazil	—		485.8		—		—		485.8
Other South America	—		159.8		—		—		159.8
Germany	—		—		1,060.6		—		1,060.6
France	—		—		718.2		—		718.2
United Kingdom and Ireland	—		—		268.7		—		268.7
Finland and Scandinavia	—		—		364.8		—		364.8
Italy	—		—		172.1		—		172.1
Other Europe	—		—		774.4		—		774.4
Middle East and Algeria	—		—		273.2		—		273.2
Africa	—		—		—		46.1		46.1
Asia	—		—		—		136.9		136.9
Australia and New Zealand	—		—		—		140.7		140.7
Mexico, Central America and Caribbean	67.5		6.7		—		—		74.2
	$	1,567.4	$	652.3	$	3,631.9	$	323.7	$	6,175.3

Major products:
Tractors	$	479.6	$	380.1	$	2,625.7	$	174.7	$	3,660.1
Replacement parts	211.7		78.7		584.9		46.4		921.7
Grain storage and protein production systems	339.1		63.4		55.5		43.3		501.3
Combines, application equipment and other machinery	537.0		130.1		365.9		59.2		1,092.2
	$	1,567.4	$	652.3	$	3,631.9	$	323.7	$	6,175.3

____________________________________

(1) Rounding may impact the summation of amounts.

Net sales for the six months ended June 30, 2023 disaggregated by primary geographical markets and major products consisted of the following (in millions):



	North America		South America		Europe/Middle East		Asia/Pacific/Africa		Consolidated
Primary geographical markets:
United States	$	1,531.8	$	—	$	—	$	—	$	1,531.8
Canada	312.6		—		—		—		312.6
Brazil	—		937.5		—		—		937.5
Other South America	—		157.1		—		—		157.1
Germany	—		—		848.6		—		848.6
France	—		—		675.1		—		675.1
United Kingdom and Ireland	—		—		347.8		—		347.8
Finland and Scandinavia	—		—		405.9		—		405.9
Italy	—		—		233.8		—		233.8
Other Europe	—		—		957.0		—		957.0
Middle East and Algeria	—		—		226.4		—		226.4
Africa	—		—		—		65.5		65.5
Asia	—		—		—		188.8		188.8
Australia and New Zealand	—		—		—		185.0		185.0
Mexico, Central America and Caribbean	75.5		7.8		—		—		83.3
	$	1,919.9	$	1,102.4	$	3,694.6	$	439.3	$	7,156.2

Major products:
Tractors	$	647.5	$	654.6	$	2,599.0	$	239.1	$	4,140.2
Replacement parts	232.0		82.3		582.3		50.8		947.4
Grain storage and protein production systems	336.3		79.6		83.8		69.2		568.9
Combines, application equipment and other machinery	704.1		285.9		429.5		80.2		1,499.7
	$	1,919.9	$	1,102.4	$	3,694.6	$	439.3	$	7,156.2

Derivative Instruments and Hedging Activities (Tables)

6 Months Ended

Jun. 30, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summary of Accumulated Other Comprehensive Loss and Net Income Related to Derivatives


			Recognized in Net Income (Loss)
Three Months Ended June 30,	Gain (Loss) Recognized in Accumulated Other Comprehensive Loss		Classification of Gain (Loss)	Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Income		Total Amount of the Line Item in the Condensed Consolidated Statements of Operations Containing Hedge Gains (Losses)
2024
Foreign currency contracts(1)	$	(3.5)	Cost of goods sold	$	(1.5)	$	2,409.1
Commodity contracts(2)	—		Cost of goods sold	(0.2)		$	2,409.1
Treasury rate locks	—		Interest expense, net	0.2		$	29.9
Total	$	(3.5)		$	(1.5)
2023
Foreign currency contracts	$	(5.0)	Cost of goods sold	$	(0.8)	$	2,817.0
Commodity contracts	(0.7)		Cost of goods sold	(0.4)		$	2,817.0
Total	$	(5.7)		$	(1.2)



			Recognized in Net Income (Loss)
Six Months Ended June 30,	Gain (Loss) Recognized in Accumulated Other Comprehensive Loss		Classification of Gain (Loss)	Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Income		Total Amount of the Line Item in the Condensed Consolidated Statements of Operations Containing Hedge Gains (Losses)
2024
Foreign currency contracts(1)	$	(4.7)	Cost of goods sold	$	(3.8)	$	4,568.0
Commodity contracts(2)	(0.3)		Cost of goods sold	(0.2)		$	4,568.0
Treasury rate locks	6.1		Interest expense, net	0.2		$	31.8
Total	$	1.1		$	(3.8)
2023
Foreign currency contracts	$	(6.9)	Cost of goods sold	$	(2.6)	$	5,295.6
Commodity contracts	0.2		Cost of goods sold	(0.1)		$	5,295.6
Total	$	(6.7)		$	(2.7)

____________________________________

(1) The outstanding contracts as of June 30, 2024 range in maturity through December 2024.

(2) As of June 30, 2024, there were no outstanding contracts with future maturity dates.

The following table summarizes the activity in accumulated other comprehensive loss related to the derivatives held by the Company during the three months ended June 30, 2024 (in millions):


	Before-Tax Amount		Income Tax Expense (Benefit)		After-Tax Amount
Accumulated derivative net gains as of March 31, 2024	$	8.1	$	2.0	$	6.1
Net changes in fair value of derivatives	(2.8)		0.7		(3.5)
Net losses reclassified from accumulated other comprehensive loss into income	1.5		—		1.5
Accumulated derivative net gains as of June 30, 2024	$	6.8	$	2.7	$	4.1

The following table summarizes the activity in accumulated other comprehensive loss related to the derivatives held by the Company during the six months ended June 30, 2024 (in millions):



	Before-Tax Amount		Income Tax Expense (Benefit)		After-Tax Amount
Accumulated derivative net losses as of December 31, 2023	$	(1.3)	$	(0.5)	$	(0.8)
Net changes in fair value of derivatives	4.0		2.9		1.1
Net losses reclassified from accumulated other comprehensive loss into income	4.1		0.3		3.8
Accumulated derivative net gains as of June 30, 2024	$	6.8	$	2.7	$	4.1

Schedule of Derivative Instruments

The following table summarizes the notional values of the instrument designated as a net investment hedge (in millions):


	Notional Amount as of
	June 30, 2024		December 31, 2023
Cross currency swap contract	$	300.0	$	300.0


	Gain (Loss) Recognized in Accumulated Other Comprehensive Loss for the Three Months Ended						Gain (Loss) Recognized in Accumulated Other Comprehensive Loss for the Six Months Ended
	Before-Tax Amount		Income Tax Expense (Benefit)		After-Tax Amount			Before-Tax Amount		Income Tax Expense (Benefit)		After-Tax Amount
June 30, 2024	$	3.4	$	0.8	$	2.6		$	8.1	$	2.0	$	6.1
June 30, 2023	(5.7)		(1.5)		(4.2)			(6.7)		(1.7)		(5.0)

Schedule of Derivatives Not Designated as Hedging Instrument

The following table summarizes the results on net income of derivatives not designated as hedging instruments (in millions):


		Gain (Loss) Recognized in Net Income for the Three Months Ended				Gain (Loss) Recognized in Net Income for the Six Months Ended
	Classification of Gain (Loss)	June 30, 2024		June 30, 2023		June 30, 2024		June 30, 2023
Foreign currency contracts	Other expense, net	$	(33.5)	$	37.9	$	(41.8)	$	49.1

Fair Value of Derivative Instruments

The table below sets forth the fair value of derivative instruments as of June 30, 2024 (in millions):


	Asset Derivatives as of June 30, 2024			Liability Derivatives as of June 30, 2024
	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Derivative instruments designated as hedging instruments:
Foreign currency contracts	Other current assets	$	4.4	Other current liabilities	$	6.2


Cross currency swap contract	Other noncurrent assets	28.4		Other noncurrent liabilities	—
Derivative instruments not designated as hedging instruments:
Foreign currency contracts(1)	Other current assets	2.1		Other current liabilities	10.8
Foreign currency contracts	Current assets held for sale	0.2		Current liabilities held for sale	0.1
Total derivative instruments		$	35.1		$	17.1

__________________________________

(1) The outstanding contracts as of June 30, 2024 range in maturity through August 2024.

The table below sets forth the fair value of derivative instruments as of December 31, 2023 (in millions):


	Asset Derivatives as of December 31, 2023			Liability Derivatives as of December 31, 2023
	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Derivative instruments designated as hedging instruments:
Foreign currency contracts	Other current assets	$	1.3	Other current liabilities	$	1.2

Cross currency swap contract	Other noncurrent assets	20.3		Other noncurrent liabilities	—
Derivative instruments not designated as hedging instruments:
Foreign currency contracts(1)	Other current assets	17.1		Other current liabilities	12.8
Total derivative instruments		$	38.7		$	14.0

___________________________________

(1) The outstanding contracts as of December 31, 2023 range in maturity through February 2024.

- Definition

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

+ References + Details

Business Held for Sale (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2024
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss on business held for sale	$ 494.6	$ 0.0	$ 494.6	$ 0.0
Grain & Protein (G&P) \| Disposal Group, Disposed of by Sale, Not Discontinued Operations \| Forecast
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Purchase price for sale					$ 700.0
Grain & Protein (G&P) \| Disposal Group, Held-for-Sale, Not Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss on business held for sale	494.6
Cumulative translation adjustment losses on business held for sale	$ 84.6

Segment Reporting

6 Months Ended

Jun. 30, 2024

Segment Reporting [Abstract]

Segment Reporting

SEGMENT REPORTING

The Company has four operating segments that are also its reportable segments, which consist of the North America, South America, Europe/Middle East and Asia/Pacific/Africa regions. The Company’s reportable segments are geography based and distribute a full range of agricultural machinery and precision agriculture technology. The Company evaluates segment performance primarily based on income from operations. Sales for each segment are based on the location of the third-party customer. The Company’s selling, general and administrative expenses and engineering expenses are generally charged to each segment based on the region and division where the expenses are incurred. As a result, the components of income from operations for one segment may not be comparable to another segment. Segment results for the three and six months ended June 30, 2024 and 2023 and assets as of June 30, 2024 and December 31, 2023 based on the Company’s reportable segments are as follows (in millions):


Three Months Ended June 30,	North America		South America		Europe/Middle East		Asia/Pacific/Africa		Total Segments
2024
Net sales	$	837.8	$	348.9	$	1,902.9	$	157.0	$	3,246.6
Income from operations	76.7		12.6		288.5		12.4		390.2
Depreciation	17.4		9.6		33.5		4.7		65.2
Capital expenditures	18.3		8.2		70.2		1.3		98.0
2023
Net sales	$	996.8	$	598.6	$	1,990.8	$	236.5	$	3,822.7
Income from operations	136.9		121.4		295.2		20.9		574.4
Depreciation	15.2		8.9		27.7		4.7		56.5
Capital expenditures	34.4		13.5		62.8		1.0		111.7



Six Months Ended June 30,	North America		South America		Europe/Middle East		Asia/Pacific/Africa		Total Segments
2024
Net sales	$	1,567.4	$	652.3	$	3,631.9	$	323.7	$	6,175.3
Income from operations	119.1		28.8		571.4		20.4		739.7
Depreciation	34.6		19.0		66.1		8.8		128.5
Capital expenditures	35.9		23.5		131.6		2.0		193.0
2023
Net sales	$	1,919.9	$	1,102.4	$	3,694.6	$	439.3	$	7,156.2
Income from operations	239.0		220.9		534.6		39.0		1,033.5
Depreciation	30.1		16.7		54.5		8.8		110.1
Capital expenditures	71.7		33.8		129.8		1.7		237.0
Assets
As of June 30, 2024	$	1,973.2	$	1,266.9	$	3,314.5	$	903.5	$	7,458.1
As of December 31, 2023	1,883.2		1,394.9		3,017.4		875.2		7,170.7

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


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Segment income from operations	$	390.2	$	574.4	$	739.7	$	1,033.5
Impairment charges	(5.1)		—		(5.1)		—
Loss on business held for sale	(494.6)		—		(494.6)		—
Corporate expenses	(62.9)		(45.0)		(115.9)		(87.1)
Amortization of intangibles	(31.7)		(14.1)		(45.6)		(28.9)
Stock compensation expense	(7.4)		(12.8)		(15.4)		(26.3)
Restructuring expenses	(30.2)		(6.1)		(31.2)		(7.5)
Consolidated income (loss) from operations	$	(241.7)	$	496.4	$	31.9	$	883.7


	June 30, 2024		December 31, 2023
Segment assets	$	7,458.1	$	7,170.7
Cash and cash equivalents	657.3		595.5
Investments in affiliates	518.3		512.7
Deferred tax assets, other current and noncurrent assets	1,506.9		1,500.1
Assets held for sale(1)	376.5		—
Intangible assets, net	689.9		308.8
Goodwill	2,407.8		1,333.4
Consolidated total assets	$	13,614.8	$	11,421.2

____________________________________

(1) Represents non-segment assets related to the Company's G&P business, which the Company has classified as held for sale as of June 30, 2024. Segment assets include the G&P assets held for sale. Refer to Note 3 for additional information.

- 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/exampleRef
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+ Details

Commitments and Contingencies (Lease Payment Amounts for Operating and Finance Leases) (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Operating Leases
2024	$ 30.1	$ 52.8
2025	53.3	43.0
2026	41.7	32.6
2027	26.5	19.7
2028	19.5	14.7
Thereafter	48.5	46.5
Total lease payments	219.6	209.3
Less: imputed interest	(31.7)	(29.5)
Present value of leased liabilities	187.9	179.8
Finance Leases
2024	0.3	0.7
2025	0.7	0.6
2026	0.4	0.4
2027	0.4	0.3
2028	0.2	0.1
Thereafter	5.8	5.8
Total lease payments	7.8	7.9
Less: imputed interest	(2.0)	(2.0)
Present value of leased liabilities	$ 5.8	$ 5.9

Acquisitions (Acquired Identifiable Intangible Assets) (Details) - USD ($) $ in Millions		6 Months Ended
	Apr. 01, 2024	Jun. 30, 2024
Business Acquisition [Line Items]
Fair Value		$ 545.0
Customer Relationships
Business Acquisition [Line Items]
Fair Value		$ 39.4
Minimum
Business Acquisition [Line Items]
Useful Life		1 year
Maximum
Business Acquisition [Line Items]
Useful Life		50 years
OneAg
Business Acquisition [Line Items]
Fair Value	$ 545.0
OneAg \| Developed Technology
Business Acquisition [Line Items]
Fair Value	453.0
OneAg \| Customer Relationships
Business Acquisition [Line Items]
Fair Value	$ 39.4
Useful Life	20 years
OneAg \| Tradename
Business Acquisition [Line Items]
Fair Value	$ 10.7
Useful Life	5 years
OneAg \| Favorable contracts
Business Acquisition [Line Items]
Fair Value	$ 41.9
OneAg \| Minimum \| Developed Technology
Business Acquisition [Line Items]
Useful Life	7 years
OneAg \| Minimum \| Favorable contracts
Business Acquisition [Line Items]
Useful Life	2 years
OneAg \| Maximum \| Developed Technology
Business Acquisition [Line Items]
Useful Life	10 years
OneAg \| Maximum \| Favorable contracts
Business Acquisition [Line Items]
Useful Life	7 years

Pension and Postretirement Benefit Plans (Narrative) (Details) $ in Millions	6 Months Ended
	Jun. 30, 2024 USD ($)
Pension benefits
Defined Benefit Plan Disclosure [Line Items]
Employer contributions	$ 18.4
Estimated contributions for current fiscal year	25.9
Postretirement Benefits
Defined Benefit Plan Disclosure [Line Items]
Employer contributions	0.8
Estimated contributions for current fiscal year	$ 1.7

Basis of Presentation (Policies)	6 Months Ended
Basis of Presentation (Policies)	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
New Accounting Pronouncements to be Adopted	New Accounting Pronouncements to be Adopted In November 2023, the FASB issued ASU 2023-07, "Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures," which expands annual and interim disclosure requirements and requires entities to disclose its significant segment expense categories and amounts for each reportable segment. The ASU is effective for public entities for fiscal years beginning after December 15, 2023, and interim periods in fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the potential effect that the updated standard will have on its financial statement disclosures. In December 2023, the FASB issued ASU 2023-09, "Income Taxes (Topic 740): Improvements to Income Tax Disclosures". The standard requires disaggregated information about a reporting entity’s effective tax rate reconciliation as well as information on income taxes paid. The requirements will be effective for annual periods beginning after December 15, 2024. The guidance will be applied on a prospective basis with the option to apply the standard retrospectively. Early adoption is permitted. The Company is currently evaluating the potential effect that the updated standard will have on its financial statement disclosures.

Indebtedness (Narrative) (Details) € in Millions			1 Months Ended			3 Months Ended	6 Months Ended		25 Months Ended	49 Months Ended
Indebtedness (Narrative) (Details) € in Millions	Sep. 28, 2023 USD ($)	Oct. 06, 2021 EUR (€)	Mar. 21, 2027	Mar. 31, 2024 USD ($)	Dec. 31, 2022 USD ($)	Mar. 21, 2034	Jun. 30, 2024 USD ($) agreement	Jun. 30, 2023 USD ($)	Aug. 31, 2023 EUR (€)	Oct. 31, 2023 EUR (€)	Jun. 30, 2024 EUR (€) agreement	Mar. 25, 2024 USD ($)	Mar. 21, 2024 USD ($)	Feb. 15, 2024 EUR (€)	Jan. 25, 2024 EUR (€)	Dec. 31, 2023 USD ($)	Oct. 26, 2023 EUR (€)	Sep. 29, 2023 EUR (€)	Jun. 30, 2022 EUR (€)	Jan. 25, 2019 EUR (€)	Oct. 31, 2018 USD ($)	Aug. 31, 2018 EUR (€) agreement	Oct. 31, 2016 EUR (€) agreement
Debt Instrument [Line Items]
Repayments of debt							$ 1,700,000	$ 11,400,000
Letters of credit outstanding							14,700,000									$ 14,700,000
Bridge Loan
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 2,000,000,000.0
Remaining borrowing capacity												$ 0
Debt instrument term	364 days
Other Short-Term Borrowings
Debt Instrument [Line Items]
Short-term debt outstanding							51,700,000									12,700,000
Multi-Currency Revolving Credit Facility \| Line of Credit \| EURIBOR \| Minimum
Debt Instrument [Line Items]
Margin on variable rate					0.875%
Multi-Currency Revolving Credit Facility \| Line of Credit \| EURIBOR \| Maximum
Debt Instrument [Line Items]
Margin on variable rate					1.875%
Multi-Currency Revolving Credit Facility \| Line of Credit \| Interest Accrual, Option One \| SOFR
Debt Instrument [Line Items]
Margin on variable rate					0.10%
Multi-Currency Revolving Credit Facility \| Line of Credit \| Interest Accrual, Option One \| SOFR \| Minimum
Debt Instrument [Line Items]
Margin on variable rate					0.875%
Multi-Currency Revolving Credit Facility \| Line of Credit \| Interest Accrual, Option One \| SOFR \| Maximum
Debt Instrument [Line Items]
Margin on variable rate					1.875%
Multi-Currency Revolving Credit Facility \| Line of Credit \| Interest Accrual, Option Two \| SOFR
Debt Instrument [Line Items]
Margin on variable rate					1.00%
Multi-Currency Revolving Credit Facility \| Line of Credit \| Interest Accrual, Option Two \| SOFR \| Minimum
Debt Instrument [Line Items]
Margin on variable rate					0.00%
Multi-Currency Revolving Credit Facility \| Line of Credit \| Interest Accrual, Option Two \| SOFR \| Maximum
Debt Instrument [Line Items]
Margin on variable rate					0.875%
Multi-Currency Revolving Credit Facility \| Line of Credit \| Interest Accrual, Option Two \| Fed Funds Effective Rate
Debt Instrument [Line Items]
Margin on variable rate					0.50%
$5.800% Senior notes due 2034 \| Senior Notes
Debt Instrument [Line Items]
Interest rate percentage													5.80%
Face amount													$ 700,000,000.0
Long-term debt, gross							700,000,000.0									0
$5.800% Senior notes due 2034 \| Senior Notes \| Forecast
Debt Instrument [Line Items]
Redemption price, percentage						100.00%
$5.450% Senior notes due 2027 \| Senior Notes
Debt Instrument [Line Items]
Interest rate percentage													5.45%
Face amount													$ 400,000,000.0
Long-term debt, gross							400,000,000.0									0
$5.450% Senior notes due 2027 \| Senior Notes \| Forecast
Debt Instrument [Line Items]
Redemption price, percentage			100.00%
0.800% Senior notes due 2028 \| Senior Notes
Debt Instrument [Line Items]
Interest rate percentage		0.80%
Face amount \| €		€ 600.0
Long-term debt, gross							642,000,000.0				€ 600.0					664,000,000.0
Face amount, issue price percentage		99.993%
1.002% EIB Senior term loan due 2025 \| Senior Notes
Debt Instrument [Line Items]
Interest rate percentage																				1.002%
Long-term debt, gross							$ 267,500,000									276,700,000				€ 250.0
Senior Term Loans due Between 2023 and 2028 \| Senior Notes
Debt Instrument [Line Items]
Repayments of debt \| €									€ 244.0	€ 322.5
Face amount \| €																						€ 338.0	€ 375.0
Number of loan agreements entered \| agreement																						7	7
Senior term loans due between 2025 and 2028 \| Line of Credit \| Minimum
Debt Instrument [Line Items]
Margin on variable rate							1.67%
Senior term loans due between 2025 and 2028 \| Line of Credit \| Maximum
Debt Instrument [Line Items]
Margin on variable rate							2.26%
Senior term loans due between 2025 and 2028 \| Line of Credit \| EURIBOR \| Minimum
Debt Instrument [Line Items]
Margin on variable rate							1.10%
Senior term loans due between 2025 and 2028 \| Senior Notes
Debt Instrument [Line Items]
Long-term debt, gross							$ 156,800,000				€ 146.5					162,100,000
Number of agreements remaining \| agreement							4				4
Revolving Credit Facility \| Line of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity																					$ 800,000,000
Increase to maximum borrowing capacity					$ 450,000,000
Revolving Credit Facility \| 1.25 Billion Multi-Currency Unsecured Credit Facility \| Line of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity					1,250,000,000
Line of credit amount outstanding							$ 760,000,000
Remaining borrowing capacity							489,900,000
Revolving Credit Facility \| 1.25 Billion Multi-Currency Unsecured Credit Facility, US Dollar Tranche \| Line of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity					325,000,000
Revolving Credit Facility \| 1.25 Billion Multi-Currency Unsecured Credit Facility, Multi-Currency Tranche \| Line of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity					925,000,000
Revolving Credit Facility \| Bilateral Revolving Credit Facility \| Line of Credit
Debt Instrument [Line Items]
Repayments of debt					$ 240,000,000
Revolving Credit Facility \| Uncommitted Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity							107,000,000.0												€ 100.0
Line of credit amount outstanding							0									0
Remaining borrowing capacity							107,000,000.0				€ 100.0
Term Loan
Debt Instrument [Line Items]
Maximum borrowing capacity				$ 500,000,000.0												250,000,000.0
Increase to maximum borrowing capacity				$ 250,000,000.0
Line of credit amount outstanding							500,000,000.0
Long-term debt, gross							500,000,000.0									0
Multi-Currency Finance Contract \| EIB Senior term loan due 2029
Debt Instrument [Line Items]
Maximum borrowing capacity \| €																		€ 250.0
Line of credit amount outstanding							267,500,000										€ 250.0
Interest rate percentage																		3.98%
Long-term debt, gross							267,500,000									276,700,000
Percentage of specified investments																		50.00%
Multi-Currency Finance Contract \| EIB Senior term loan due 2030
Debt Instrument [Line Items]
Maximum borrowing capacity \| €															€ 170.0
Line of credit amount outstanding							181,900,000							€ 170.0
Interest rate percentage															3.416%
Long-term debt, gross							$ 181,900,000									$ 0

Segment Reporting (Segment Results By Reportable Segments) (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($) segment	Jun. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)
Segment Reporting Information [Line Items]
Number of operating segments \| segment			4
Number of reportable segments \| segment			4
Net sales	$ 3,246.6	$ 3,822.7	$ 6,175.3	$ 7,156.2
Income from operations	(241.7)	496.4	31.9	883.7
Depreciation			128.5	110.1
Assets	13,614.8		13,614.8		$ 11,421.2
North America
Segment Reporting Information [Line Items]
Net sales	837.8	996.8	1,567.4	1,919.9
South America
Segment Reporting Information [Line Items]
Net sales	348.9	598.6	652.3	1,102.4
Europe/Middle East
Segment Reporting Information [Line Items]
Net sales	1,902.9	1,990.8	3,631.9	3,694.6
Asia/Pacific/Africa
Segment Reporting Information [Line Items]
Net sales	157.0	236.5	323.7	439.3
Operating Segments
Segment Reporting Information [Line Items]
Net sales	3,246.6	3,822.7	6,175.3	7,156.2
Income from operations	390.2	574.4	739.7	1,033.5
Depreciation	65.2	56.5	128.5	110.1
Capital expenditures	98.0	111.7	193.0	237.0
Assets	7,458.1		7,458.1		7,170.7
Operating Segments \| North America
Segment Reporting Information [Line Items]
Net sales	837.8	996.8	1,567.4	1,919.9
Income from operations	76.7	136.9	119.1	239.0
Depreciation	17.4	15.2	34.6	30.1
Capital expenditures	18.3	34.4	35.9	71.7
Assets	1,973.2		1,973.2		1,883.2
Operating Segments \| South America
Segment Reporting Information [Line Items]
Net sales	348.9	598.6	652.3	1,102.4
Income from operations	12.6	121.4	28.8	220.9
Depreciation	9.6	8.9	19.0	16.7
Capital expenditures	8.2	13.5	23.5	33.8
Assets	1,266.9		1,266.9		1,394.9
Operating Segments \| Europe/Middle East
Segment Reporting Information [Line Items]
Net sales	1,902.9	1,990.8	3,631.9	3,694.6
Income from operations	288.5	295.2	571.4	534.6
Depreciation	33.5	27.7	66.1	54.5
Capital expenditures	70.2	62.8	131.6	129.8
Assets	3,314.5		3,314.5		3,017.4
Operating Segments \| Asia/Pacific/Africa
Segment Reporting Information [Line Items]
Net sales	157.0	236.5	323.7	439.3
Income from operations	12.4	20.9	20.4	39.0
Depreciation	4.7	4.7	8.8	8.8
Capital expenditures	1.3	$ 1.0	2.0	$ 1.7
Assets	$ 903.5		$ 903.5		$ 875.2

Revenue (Remaining Performance Obligations) (Details) $ in Millions	Jun. 30, 2024 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2024-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 65.5
Remaining performance obligation, expected timing of satisfaction, period	6 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2025-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 116.2
Remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2026-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 79.3
Remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2027-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 41.1
Remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2028-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 19.9
Remaining performance obligation, expected timing of satisfaction, period

Inventories (Tables)

6 Months Ended

Jun. 30, 2024

Inventory Disclosure [Abstract]

Schedule of Inventory

Inventories, net at June 30, 2024 and December 31, 2023, excluding amounts classified as held for sale, were as follows (in millions):


	June 30, 2024		December 31, 2023
Finished goods	$	1,605.1	$	1,460.7
Repair and replacement parts	808.6		823.1
Work in process	279.0		255.2
Raw materials	806.7		901.7
Inventories, net	$	3,499.4	$	3,440.7

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended		6 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Millions	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure
Net income (loss) attributable to AGCO Corporation and subsidiaries	$ (367.1)	$ 319.2	$ (199.1)	$ 551.8

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 37: http://fasb.org/us-gaap/role/ref/legacyRef
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+ Details

Pension and Postretirement Benefit Plans

6 Months Ended

Jun. 30, 2024

Retirement Benefits [Abstract]

Pension and Postretirement Benefit Plans

PENSION AND POSTRETIREMENT BENEFIT PLANS


	Three Months Ended June 30,				Six Months Ended June 30,
Pension benefits	2024		2023		2024		2023
Service cost	$	2.1	$	2.4	$	4.2	$	4.8
Interest cost	6.9		7.3		13.9		14.5
Expected return on plan assets	(7.7)		(7.4)		(15.4)		(14.6)
Amortization of net actuarial losses	2.2		2.2		4.4		4.2
Amortization of prior service cost	0.4		0.4		0.7		0.7

Net periodic pension cost	$	3.9	$	4.9	$	7.8	$	9.6


	Three Months Ended June 30,				Six Months Ended June 30,
Postretirement benefits	2024		2023		2024		2023
Service cost	$	—	$	—	$	0.1	$	—
Interest cost	0.4		0.3		0.8		0.6

Amortization of prior service cost	—		—		0.1		0.1
Net periodic postretirement benefit cost	$	0.4	$	0.3	$	1.0	$	0.7

The components of net periodic pension and postretirement benefits cost, other than the service cost component, are included in “Other expense, net” in the Company’s Condensed Consolidated Statements of Operations.

During the six months ended June 30, 2024, the Company made approximately $18.4 million of contributions to its defined pension benefit plans. The Company currently estimates its minimum contributions for 2024 to its defined pension benefit plans will aggregate to approximately $25.9 million.

During the six months ended June 30, 2024, the Company made approximately $0.8 million of contributions to its postretirement health care and life insurance benefit plans. The Company currently estimates that it will make approximately $1.7 million of contributions to its postretirement health care and life insurance benefit plans during 2024.

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 70
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480794/715-70-50-1

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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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-Section S99
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480126/715-20-S99-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480266/715-60-50-3

+ Details

Commitments and Contingencies (Narrative) (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Foreign currency contracts
Guarantor Obligations [Line Items]
Notional amount	$ 3,032.1
Foreign currency contracts \| Cash Flow Hedging \| Designated as Hedging Instrument
Guarantor Obligations [Line Items]
Notional amount	386.6	$ 262.2
Commodity contracts \| Cash Flow Hedging \| Designated as Hedging Instrument
Guarantor Obligations [Line Items]
Notional amount	0.1	$ 2.5
AGCO Capital
Guarantor Obligations [Line Items]
Guarantor obligations, current carrying value	54.1
US and Canada Finance Joint Ventures
Guarantor Obligations [Line Items]
Guarantor obligations, current carrying value	12.6
Guarantor obligation maximum exposure	$ 185.1

Revenue (Contract Liabilities) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Change in Contract with Customer, Liability [Roll Forward]
Balance at beginning of period	$ 321.5	$ 259.6	$ 310.7	$ 239.0
Acquisitions	21.0	0.0	21.0	0.0
Advance consideration received	53.5	58.0	106.0	116.5
Reclassified to assets held for sale	(10.5)	0.0	(10.5)	0.0
Foreign currency translation	(1.3)	1.7	(6.1)	4.7
Balance at end of period	331.7	274.6	331.7	274.6
Revenue recognized that was recorded as a contract liability at the beginning of the period	38.1	34.3	71.3	70.0
Extended warranty contracts, maintenance services, technology services
Change in Contract with Customer, Liability [Roll Forward]
Revenue recognized during the period for extended warranty contracts	(45.0)	(26.8)	(77.2)	(51.7)
Grain storage and protein production systems
Change in Contract with Customer, Liability [Roll Forward]
Revenue recognized during the period for extended warranty contracts	$ (7.5)	$ (17.9)	$ (12.2)	$ (33.9)

Commitments and Contingencies

6 Months Ended

Jun. 30, 2024

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

COMMITMENTS AND CONTINGENCIES

Leases


	June 30, 2024				December 31, 2023
	Operating Leases(1)		Finance Leases		Operating Leases(1)		Finance Leases
2024	$	30.1	$	0.3	$	52.8	$	0.7
2025	53.3		0.7		43.0		0.6
2026	41.7		0.4		32.6		0.4
2027	26.5		0.4		19.7		0.3
2028	19.5		0.2		14.7		0.1
Thereafter	48.5		5.8		46.5		5.8
Total lease payments	219.6		7.8		209.3		7.9
Less: imputed interest(2)	(31.7)		(2.0)		(29.5)		(2.0)

Present value of leased liabilities	$	187.9	$	5.8	$	179.8	$	5.9

__________________________________

(2) Calculated for each lease using either the implicit interest rate or the incremental borrowing rate when the implicit interest rate is not readily available.

Off-Balance Sheet Arrangements

Guarantees

At June 30, 2024, the Company had outstanding guarantees issued to its Argentine finance joint venture, AGCO Capital Argentina S.A. (“AGCO Capital”), of approximately $54.1 million. Such guarantees generally obligate the Company to repay outstanding finance obligations owed to AGCO Capital if end users default on such loans to the extent that, due to non-credit risk, the end users are not able, or not required, to pay their loans, or are required to pay in a different currency than the one agreed in their loan. The Company also has obligations to guarantee indebtedness owed to certain of its finance joint ventures if dealers or end users default on loans. Losses under such guarantees historically have been insignificant, and the guarantees are not material. The Company believes the credit risk associated with these guarantees is not material.

In addition, at June 30, 2024, the Company had accrued approximately $12.6 million of outstanding guarantees of residual values that may be owed to its finance joint ventures in the United States and Canada due upon expiration of certain eligible operating leases between the finance joint ventures and end users. The maximum potential amount of future payments under these guarantees is approximately $185.1 million.

Other

At June 30, 2024, the Company had outstanding designated and non-designated foreign exchange contracts with a gross notional amount of approximately $3,032.1 million. The outstanding contracts as of June 30, 2024 range in maturity through December 2024. The Company also had outstanding designated steel commodity contracts with a gross notional amount of approximately $0.1 million that have matured and will settle in July 2024. As of June 30, 2024, there were no designated steel commodity contracts outstanding with future maturity dates.

The Company sells a majority of its wholesale receivables in North America, Europe and Brazil to its U.S., Canadian, European and Brazilian finance joint ventures. The Company also sells certain accounts receivable under factoring arrangements to financial institutions around the world. The Company accounts for the sale of such receivables as off-balance sheet transactions. Refer to Note 4 for discussion of the Company’s accounts receivable sales agreements.

Contingencies

During 2017, the Company purchased Precision Planting, which provides precision agricultural technology solutions. In 2018, Deere & Company (“Deere”) filed separate complaints in the U.S. District Court of Delaware against the Company and Precision Planting alleging that certain products of those entities infringed certain patents of Deere. The two complaints subsequently were consolidated into a single case, Case No. 1:18-cv-00827-CFC. In July 2022, the case was tried before a jury, which determined that the Company and Precision Planting had not infringed the Deere patents. Following customary post-trial procedures, the Court entered a judgment in the Company’s favor, and Deere appealed the judgment to the U.S. Court of Appeals for the Federal Circuit. The appeal is fully briefed and is awaiting oral arguments before the court. The Company has an indemnity right under the purchase agreement related to the acquisition of Precision Planting from its previous owner. Pursuant to that right, the previous owner of Precision Planting currently is responsible for the litigation costs associated with the complaint and is obligated to reimburse AGCO for some or all of the damages in the event of an adverse outcome in the litigation.

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, are material to its business or financial statements as a whole, including its results of operations and financial condition.

Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions

6 Months Ended

Jun. 30, 2024

Jun. 30, 2023

Cash flows from operating activities:

Net income (loss)

$ (200.9)

$ 551.8

Adjustments to reconcile net income (loss) to net cash used in operating activities:

Depreciation

128.5

110.1

Amortization of intangibles

45.6

28.9

Stock compensation expense

16.1

27.3

Impairment charges

5.1

0.0

Loss on business held for sale

494.6

0.0

Equity in net earnings of affiliates, net of cash received

(25.1)

(33.3)

Deferred income tax benefit

(25.2)

(22.6)

Other

19.4

13.7

Changes in operating assets and liabilities:

Accounts and notes receivable, net

(123.3)

(495.3)

Inventories, net

(373.3)

(555.1)

Other current and noncurrent assets

(62.1)

(241.1)

Accounts payable

59.8

1.2

Accrued expenses

(178.5)

128.7

Other current and noncurrent liabilities

84.8

120.7

Total adjustments

66.4

(916.8)

Net cash used in operating activities

(134.5)

(365.0)

Cash flows from investing activities:

Purchases of property, plant and equipment

(193.0)

(237.0)

Proceeds from sale of property, plant and equipment

1.3

0.4

Purchase of businesses, net of cash acquired

(1,902.2)

(0.9)

Investments in unconsolidated affiliates, net

(0.2)

(26.2)

Other

(0.1)

(3.9)

Net cash used in investing activities

(2,094.2)

(267.6)

Cash flows from financing activities:

Proceeds from indebtedness

2,585.4

780.2

Repayments of indebtedness

(1.7)

(11.4)

Payment of dividends to stockholders

(229.9)

(414.1)

Payment of minimum tax withholdings on stock compensation

(11.3)

(20.2)

Payment of debt issuance costs

(15.2)

0.0

Investments by noncontrolling interests, net

8.1

0.0

Net cash provided by financing activities

2,335.4

334.5

Effects of exchange rate changes on cash, cash equivalents and restricted cash

(24.9)

(27.9)

Increase (decrease) in cash, cash equivalents and restricted cash

81.8

(326.0)

Cash, cash equivalents and restricted cash, beginning of period

595.5

789.5

Cash, cash equivalents and restricted cash, end of period

^[1]

$ 677.3

$ 463.5

[1]	Includes $20.0 million of cash and cash equivalents classified as held for sale as of June 30, 2024.

Derivative Instruments and Hedging Activities (Notional Value and Change in Fair Value of Net Investment Hedges) (Details) - Cross currency swap contract - Designated as Hedging Instrument - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Derivative [Line Items]
Gain (Loss) Recognized in Accumulated Other Comprehensive Loss, Before-Tax Amount	$ 3.4	$ (5.7)	$ 8.1	$ (6.7)
Gain (Loss) Recognized in Accumulated Other Comprehensive Loss, Income Tax Expense (Benefit)	0.8	(1.5)	2.0	(1.7)
Gain (Loss) Recognized in Accumulated Other Comprehensive Loss, After-Tax Amount	2.6	$ (4.2)	6.1	$ (5.0)
Net Investment Hedging
Derivative [Line Items]
Notional amount	$ 300.0		$ 300.0		$ 300.0

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	1,000,000	1,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	150,000,000	150,000,000
Common stock, shares issued (in shares)	74,634,538	74,517,973
Common stock, shares outstanding (in shares)	74,634,538	74,517,973

Stockholders' Equity

6 Months Ended

Jun. 30, 2024

Equity [Abstract]

Stockholders' Equity

STOCKHOLDERS’ EQUITY

The following tables set forth changes in stockholders’ equity attributed to AGCO Corporation and its subsidiaries and to noncontrolling interests for the three and six months ended June 30, 2024 and 2023 (in millions):


	Redeemable Noncontrolling Interests		Common Stock		Additional Paid-in Capital		Retained Earnings		Accumulated Other Comprehensive Loss		Noncontrolling Interests		Total Stockholders’ Equity
Balance, March 31, 2024	$	—	$	0.7	$	—	$	6,505.9	$	(1,751.5)	$	0.1	$	4,755.2
Stock compensation	—		—		6.4		—		—		—		6.4
Issuance of stock awards	—		—		(0.3)		0.1		—		—		(0.2)


Comprehensive income:
Net loss	(1.8)		—		—		(367.1)		—		—		(367.1)
Other comprehensive income (loss):
Foreign currency translation adjustments	(1.0)		—		—		—		(135.1)		—		(135.1)
Defined benefit pension plans, net of tax	—		—		—		—		1.9		—		1.9
Deferred gains and losses on derivatives, net of tax	—		—		—		—		(2.0)		—		(2.0)
Payment of dividends to stockholders	—		—		—		(208.3)		—		—		(208.3)



Equity transaction associated with JCA noncontrolling interest (Note 2)	—		—		3.1		—		—		—		3.1
Initial fair value of redeemable noncontrolling interests (Note 2)	499.4		—		—		—		—		—		—
Investment by redeemable noncontrolling interest (Note 2)	8.1		—		—		—		—		—		—

Balance, June 30, 2024	$	504.7	$	0.7	$	9.2	$	5,930.6	$	(1,886.7)	$	0.1	$	4,053.9


	Redeemable Noncontrolling Interests		Common Stock		Additional Paid-in Capital		Retained Earnings		Accumulated Other Comprehensive Loss		Noncontrolling Interests		Total Stockholders’ Equity
Balance, December 31, 2023	$	—	$	0.7	$	4.1	$	6,360.0	$	(1,708.1)	$	0.1	$	4,656.8
Stock compensation	—		—		14.8		—		—		—		14.8
Issuance of stock awards	—		—		(12.7)		(0.4)		—		—		(13.1)
SSARs exercised	—		—		(0.1)		—		—		—		(0.1)
Comprehensive income:
Net loss	(1.8)		—		—		(199.1)		—		—		(199.1)
Other comprehensive income (loss):
Foreign currency translation adjustments	(1.0)		—		—		—		(187.1)		—		(187.1)
Defined benefit pension plans, net of tax	—		—		—		—		3.6		—		3.6
Deferred gains and losses on derivatives, net of tax	—		—		—		—		4.9		—		4.9
Payment of dividends to stockholders	—		—		—		(229.9)		—		—		(229.9)


Equity transaction associated with JCA noncontrolling interest (Note 2)	—		—		3.1		—		—		—		3.1
Initial fair value of redeemable noncontrolling interests (Note 2)	499.4		—		—		—		—		—		—
Investment by redeemable noncontrolling interest (Note 2)	8.1		—		—		—		—		—		—


Balance, June 30, 2024	$	504.7	$	0.7	$	9.2	$	5,930.6	$	(1,886.7)	$	0.1	$	4,053.9


	Common Stock		Additional Paid-in Capital		Retained Earnings		Accumulated Other Comprehensive Loss		Noncontrolling Interests		Total Stockholders’ Equity
Balance, March 31, 2023	$	0.7	$	24.7	$	5,863.7	$	(1,756.4)	$	0.2	$	4,132.9
Stock compensation	—		13.3		—		—		—		13.3
Issuance of stock awards	—		(1.8)		—		—		—		(1.8)
SSARs exercised	—		(0.1)		—		—		—		(0.1)
Comprehensive income:
Net income	—		—		319.2		—		—		319.2
Other comprehensive income (loss):
Foreign currency translation adjustments	—		—		—		74.2		—		74.2
Defined benefit pension plans, net of tax	—		—		—		1.9		—		1.9
Deferred gains and losses on derivatives, net of tax	—		—		—		(4.5)		—		(4.5)
Payment of dividends to stockholders	—		—		(396.1)		—		—		(396.1)





Balance, June 30, 2023	$	0.7	$	36.1	$	5,786.8	$	(1,684.8)	$	0.2	$	4,139.0


	Common Stock		Additional Paid-in Capital		Retained Earnings		Accumulated Other Comprehensive Loss		Noncontrolling Interests		Total Stockholders’ Equity
Balance, December 31, 2022	$	0.7	$	30.2	$	5,654.6	$	(1,803.1)	$	0.2	$	3,882.6
Stock compensation	—		27.3		—		—		—		27.3
Issuance of stock awards	—		(20.2)		—		—		—		(20.2)
SSARs exercised	—		(1.2)		—		—		—		(1.2)
Comprehensive income:
Net income	—		—		551.8		—		—		551.8
Other comprehensive income (loss):
Foreign currency translation adjustments	—		—		—		118.6		—		118.6
Defined benefit pension plans, net of tax	—		—		—		3.7		—		3.7
Deferred gains and losses on derivatives, net of tax	—		—		—		(4.0)		—		(4.0)
Payment of dividends to stockholders	—		—		(414.1)		—		—		(414.1)



Adoption of ASU 2016-13 by finance joint ventures	—		—		(5.5)		—		—		(5.5)
Balance, June 30, 2023	$	0.7	$	36.1	$	5,786.8	$	(1,684.8)	$	0.2	$	4,139.0

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 six months ended June 30, 2024 (in millions):


	Defined Benefit Pension Plans		Deferred Net (Losses) Gains on Derivatives		Cumulative Translation Adjustment		Total
Accumulated other comprehensive loss, December 31, 2023	$	(238.6)	$	(0.8)	$	(1,468.7)	$	(1,708.1)
Other comprehensive income (loss) before reclassifications	—		1.1		(187.1)		(186.0)
Net losses reclassified from accumulated other comprehensive loss	3.6		3.8		—		7.4
Other comprehensive income (loss)	3.6		4.9		(187.1)		(178.6)
Accumulated other comprehensive loss, June 30, 2024	$	(235.0)	$	4.1	$	(1,655.8)	$	(1,886.7)

The following table sets forth reclassification adjustments out of accumulated other comprehensive loss by component attributed to AGCO Corporation and its subsidiaries for the three and six months ended June 30, 2024 and 2023 (in millions):


	Amount Reclassified from Accumulated Other Comprehensive Loss				Affected Line Item within the Condensed Consolidated Statements of Operations
Details about Accumulated Other Comprehensive Loss Components	Three Months Ended June 30, 2024(1)		Three Months Ended June 30, 2023(1)
Derivatives:
Net losses on foreign currency contracts	$	1.6	$	1.3	Cost of goods sold
Net losses on commodity contracts	0.2		0.5		Cost of goods sold

Net gains on treasury rate locks	(0.3)		—		Interest expense, net
Reclassification before tax	1.5		1.8
Income tax benefit	—		(0.6)		Income tax provision
Reclassification net of tax	$	1.5	$	1.2

Defined benefit pension plans:
Amortization of net actuarial losses	$	2.2	$	2.2	Other expense, net(2)
Amortization of prior service cost	0.4		0.4		Other expense, net(2)
Reclassification before tax	2.6		2.6
Income tax benefit	(0.7)		(0.7)		Income tax provision
Reclassification net of tax	$	1.9	$	1.9

Net losses reclassified from accumulated other comprehensive loss	$	3.4	$	3.1

__________________________________

(1) Losses included within the Condensed Consolidated Statements of Operations for the three months ended June 30, 2024 and 2023, respectively.

(2) These accumulated other comprehensive loss components are included in the computation of net periodic pension and postretirement benefit cost. See Note 15 for additional information.


	Amount Reclassified from Accumulated Other Comprehensive Loss				Affected Line Item within the Condensed Consolidated Statements of Operations
Details about Accumulated Other Comprehensive Loss Components	Six Months Ended June 30, 2024(1)		Six Months Ended June 30, 2023(1)
Derivatives:
Net losses on foreign currency contracts	$	4.2	$	3.5	Cost of goods sold
Net losses on commodity contracts	0.2		0.1		Cost of goods sold

Net gains on treasury rate locks	(0.3)		—		Interest expense, net
Reclassification before tax	4.1		3.6
Income tax benefit	(0.3)		(0.9)		Income tax provision
Reclassification net of tax	$	3.8	$	2.7

Defined benefit pension plans:
Amortization of net actuarial losses	$	4.4	$	4.2	Other expense, net(2)
Amortization of prior service cost	0.8		0.8		Other expense, net(2)
Reclassification before tax	5.2		5.0
Income tax benefit	(1.6)		(1.3)		Income tax provision
Reclassification net of tax	$	3.6	$	3.7

Net losses reclassified from accumulated other comprehensive loss	$	7.4	$	6.4

__________________________________

(1) Losses included within the Condensed Consolidated Statements of Operations for the six months ended June 30, 2024 and 2023, respectively.

(2) These accumulated other comprehensive loss components are included in the computation of net periodic pension and postretirement benefit cost. See Note 15 for additional information.

Share Repurchase Program

In November 2023, the Company entered into an accelerated share repurchase (“ASR”) agreement with a financial institution to repurchase $53.0 million of shares of its common stock. The Company received approximately 371,669 shares associated with this transaction as of December 31, 2023. In January 2024, the Company received an additional 82,883 shares upon final settlement of its November 2023 ASR agreement. All shares received under the ASR agreement were retired upon receipt, and the excess of the purchase price over par value per share was recorded to a combination of “Additional paid-in capital” and “Retained earnings” within the Company’s Condensed Consolidated Balance Sheets. During the three and six months ended June 30, 2024, the Company did not purchase any shares directly or enter into any accelerated share repurchase agreements.

As of June 30, 2024, the remaining amount authorized to be repurchased under board-approved share repurchase authorizations was approximately $57.0 million, which has no expiration date.

Dividends

On April 25, 2024, the Company's Board of Directors declared a special variable dividend of $2.50 per common share that was paid during the second quarter of 2024. During the three months ended June 30, 2024 and June 30, 2023, the Company declared and paid cash dividends of $2.79 and $5.28 per common share, respectively. During the six months ended June 30, 2024 and June 30, 2023, the Company declared and paid cash dividends of $3.08 and $5.52 per common share, respectively. On July 11, 2024, the Company's Board of Directors declared a regular quarterly dividend of $0.29 per common share to be paid on September 16, 2024, to all stockholders of record as of the close of business on August 15, 2024.

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 505
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478448/946-505-50-6

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480237/815-40-50-6

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480008/505-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/505/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 16
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-16

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-18

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-18

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-18

+ Details

Supplier Finance Programs	6 Months Ended
Supplier Finance Programs	Jun. 30, 2024
Payables and Accruals [Abstract]
Supplier Finance Programs	SUPPLIER FINANCE PROGRAMS The Company has supplier financing arrangements with certain banks or other intermediaries whereby a bank or intermediary purchases receivables held by the Company’s suppliers. Under the program, suppliers have the option to be paid by the bank or intermediary earlier than the payment due date. When the supplier receives an early payment, they receive discounted amounts, and the Company pays the bank or intermediary the face amount of the invoice on the payment due date. The Company does not reimburse suppliers for any costs incurred for participation in the program. The Company and its suppliers agree on the contractual terms, including prices, quantities and payment terms, regardless of whether the supplier elects to participate in the supplier finance programs. The suppliers’ voluntary inclusion in the supplier financing programs has no bearing on the Company’s payment terms. The Company has no economic interest in a supplier’s decision to participate in the programs, and the Company has no direct financial relationship with the banks or other intermediaries as it relates to the supplier finance programs. As of June 30, 2024, payment terms with the majority of the Company’s suppliers are generally 30 to 180 days, which correspond to the contractual terms, with rates that are based on market rates (such as SOFR) plus a credit spread. There are no assets pledged as security under the programs. As of June 30, 2024 and December 31, 2023, the amounts outstanding that remain unpaid to the banks or other intermediaries totaled $92.9 million and $82.7 million, respectively, and are reflected in “Accounts payable” in the Company’s Condensed Consolidated Balance Sheets.

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Current Assets:
Cash and cash equivalents	$ 657.3	$ 595.5
Accounts and notes receivable, net	1,465.9	1,605.3
Inventories, net	3,499.4	3,440.7
Other current assets	583.1	699.3
Current assets held for sale	433.0	0.0
Total current assets	6,638.7	6,340.8
Property, plant and equipment, net	1,802.1	1,920.9
Right-of-use lease assets	168.4	176.2
Investments in affiliates	518.3	512.7
Deferred tax assets	499.0	481.6
Other assets	442.3	346.8
Noncurrent assets held for sale	448.3	0.0
Intangible assets, net	689.9	308.8
Goodwill	2,407.8	1,333.4
Total assets	13,614.8	11,421.2
Current Liabilities:
Borrowings due within one year	320.2	15.0
Accounts payable	1,075.7	1,207.3
Accrued expenses	2,543.1	2,903.8
Other current liabilities	154.2	217.5
Current liabilities held for sale	270.3	0.0
Total current liabilities	4,363.5	4,343.6
Long-term debt, less current portion and debt issuance costs	3,595.2	1,377.2
Operating lease liabilities	127.4	134.4
Pension and postretirement health care benefits	164.7	170.5
Deferred tax liabilities	111.5	122.6
Other noncurrent liabilities	666.0	616.1
Noncurrent liabilities held for sale	27.9	0.0
Total liabilities	9,056.2	6,764.4
Commitments and contingencies (Note 17)
Redeemable noncontrolling interests	504.7	0.0
AGCO Corporation stockholders’ equity:
Preferred stock; $0.01 par value, 1,000,000 shares authorized, no shares issued or outstanding in 2024 and 2023	0.0	0.0
Common stock; $0.01 par value, 150,000,000 shares authorized, 74,634,538 and 74,517,973 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively	0.7	0.7
Additional paid-in capital	9.2	4.1
Retained earnings	5,930.6	6,360.0
Accumulated other comprehensive loss	(1,886.7)	(1,708.1)
Total AGCO Corporation stockholders’ equity	4,053.8	4,656.7
Noncontrolling interests	0.1	0.1
Total stockholders’ equity	4,053.9	4,656.8
Total liabilities, redeemable noncontrolling interests and stockholders’ equity	$ 13,614.8	$ 11,421.2

Derivative Instruments and Hedging Activities (Fair Value Of Derivative Instruments) (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Derivatives, Fair Value [Line Items]
Asset derivatives	$ 35.1	$ 38.7
Liability derivatives	17.1	14.0
Foreign currency contracts \| Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Asset derivatives	4.4	1.3
Liability derivatives	6.2	1.2
Foreign currency contracts \| Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Asset derivatives		17.1
Liability derivatives		12.8
Foreign currency contracts \| Not Designated as Hedging Instrument \| Other current assets
Derivatives, Fair Value [Line Items]
Asset derivatives	2.1
Foreign currency contracts \| Not Designated as Hedging Instrument \| Current assets held for sale
Derivatives, Fair Value [Line Items]
Asset derivatives	0.2
Foreign currency contracts \| Not Designated as Hedging Instrument \| Other current liabilities
Derivatives, Fair Value [Line Items]
Liability derivatives	10.8
Foreign currency contracts \| Not Designated as Hedging Instrument \| Current liabilities held for sale
Derivatives, Fair Value [Line Items]
Liability derivatives	0.1
Cross currency swap contract \| Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Asset derivatives	28.4	20.3
Liability derivatives	$ 0.0	$ 0.0

Acquisitions (Pro Forma Financial Information) (Details) - OneAg - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Business Acquisition [Line Items]
Net sales	$ 3,246.6	$ 3,948.4	$ 6,258.7	$ 7,419.5
Net income (loss) attributable to AGCO Corporation and subsidiaries	$ (354.4)	$ 314.3	$ (188.7)	$ 515.5

Goodwill and Other Intangible Assets (Indefinite-Lived Intangible Assets) (Details) - Trademarks and Trade Names $ in Millions	6 Months Ended
	Jun. 30, 2024 USD ($)
Indefinite-lived intangible assets:
Balance at beginning of period	$ 85.9
Foreign currency translation	(1.1)
Balance at end of period	$ 84.8

Income Taxes (Details) R$ in Millions, $ in Millions	3 Months Ended	6 Months Ended	12 Months Ended
Income Taxes (Details) R$ in Millions, $ in Millions	Jun. 30, 2024 USD ($)	Jun. 30, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2023 BRL (R$)	Dec. 31, 2023 BRL (R$)
Income Tax Contingency [Line Items]
Unrecognized income tax benefits that would affect effective tax rate	$ 387.1	$ 387.1	$ 351.2
Indirect favorable effects relating to other tax jurisdictions		123.7	103.9
Accrued or deferred taxes relating to uncertain income tax positions	11.3	11.3	9.9
Noncurrent liability for uncertain tax positions	378.3	378.3	344.2
Accrued interest and penalties relating to unrecognized tax benefits	29.7	29.7	27.9
Reduction to income tax provision for value added tax incentive benefits	31.7
Tax disallowance not including interest and penalties			27.1		R$ 131.5
Amnesty program gross estimate recorded to income tax provision			34.8	R$ 182.6
U.S. tax credits associated with the Amnesty program estimate			8.4
Foreign Tax Authority
Income Tax Contingency [Line Items]
Deposits	$ 26.0	26.0	26.9
Refunds received		$ 19.1	$ 19.7

Acquisitions (Narrative) (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
Acquisitions (Narrative) (Details) - USD ($) $ in Millions	Apr. 01, 2024	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Business Acquisition [Line Items]
Investments in joint venture by noncontrolling interest holder				$ 8.1	$ 0.0
Net sales		$ 3,246.6	$ 3,822.7	6,175.3	7,156.2
Net loss attributable to AGCO Corporation and subsidiaries		367.1	$ (319.2)	199.1	$ (551.8)
PTx Trimble, LLC
Business Acquisition [Line Items]
Percentage of noncontrolling interest owned by parent	85.00%
Percentage of noncontrolling interest owned by noncontrolling owner	15.00%
Subsidiaries, PTx Trimble, LLC
Business Acquisition [Line Items]
Investments in joint venture by noncontrolling interest holder	$ 8.1
Payments to acquire interest in joint venture	46.0
Net sales		69.0
Net loss attributable to AGCO Corporation and subsidiaries		$ 10.0
OneAg
Business Acquisition [Line Items]
Total cash consideration for OneAg	$ 1,954.0
Transaction-related costs				$ 23.3

Goodwill and Other Intangible Assets

6 Months Ended

Jun. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

GOODWILL AND OTHER INTANGIBLE ASSETS

Changes in the carrying amount of goodwill during the six months ended June 30, 2024 are summarized as follows (in millions):


	North America		South America		Europe/Middle East		Asia/Pacific/Africa		Unallocated(1)		Consolidated
Balance as of December 31, 2023	$	668.2	$	93.5	$	458.5	$	113.2	$	—	$	1,333.4
Acquisitions	—		—		8.7		—		1,803.3		1,812.0

Reclassified to held for sale(2)	(524.0)		(12.8)		(61.1)		(110.3)		—		(708.2)
Foreign currency translation	(1.4)		(11.8)		(13.0)		(2.9)		(0.3)		(29.4)
Balance as of June 30, 2024	$	142.8	$	68.9	$	393.1	$	—	$	1,803.0	$	2,407.8

____________________________________

(1) Unallocated goodwill relates to the PTx Trimble joint venture transaction. Refer to Note 2 for additional information.

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

Changes in the carrying amount of acquired intangible assets during the six months ended June 30, 2024 are summarized as follows (in millions):


Gross carrying amounts:	Trademarks and Trade Names		Customer Relationships		Patents and Technology		Other		Total
Balance as of December 31, 2023	$	194.3	$	580.7	$	148.2	$	6.3	$	929.5
Acquisitions	10.7		39.4		453.0		41.9		545.0

Reclassified to held for sale(1)	(122.0)		(417.3)		(58.7)		—		(598.0)
Foreign currency translation	(3.5)		(11.6)		(6.6)		(0.1)		(21.8)
Balance as of June 30, 2024	$	79.5	$	191.2	$	535.9	$	48.1	$	854.7


Accumulated amortization:	Trademarks and Trade Names		Customer Relationships		Patents and Technology		Other		Total
Balance as of December 31, 2023	$	114.5	$	483.4	$	113.3	$	1.7	$	712.9
Amortization expense	5.5		31.6		5.0		3.5		45.6

Reclassified to held for sale(1)	(73.9)		(367.4)		(48.9)		—		(490.2)
Foreign currency translation	(2.2)		(23.1)		7.6		(0.1)		(17.8)
Balance as of June 30, 2024	$	43.9	$	124.5	$	77.0	$	5.1	$	250.5


Indefinite-lived intangible assets:	Trademarks and Trade Names

Balance as of December 31, 2023	$	85.9
Foreign currency translation	(1.1)
Balance as of June 30, 2024	$	84.8

____________________________________

(1) Reclassification resulting from the Company's classification of the G&P business as held for sale. Refer to Note 3 for additional information.

The Company amortizes certain acquired identifiable intangible assets primarily on a straight-line basis over their estimated useful lives, which range from one to 50 years. External-use software, net, developed by the Company and marketed externally, was approximately $0.9 million and $6.3 million as of June 30, 2024 and December 31, 2023, respectively, and classified within “Intangible assets, net.” As of June 30, 2024, $4.5 million of external-use software, net was reclassified to held for sale.

Acquisitions

6 Months Ended

Jun. 30, 2024

Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]

Acquisitions

ACQUISITIONS

On September 28, 2023, the Company entered into a Sale and Contribution Agreement among AGCO, Trimble Inc. (“Trimble”) and PTx Trimble, LLC (“PTx Trimble” or the "Joint Venture"), formerly known as Trimble Solutions, LLC, which was subsequently amended and restated on March 31, 2024. On April 1, 2024, pursuant to the terms of an Amended and Restated Sale and Contribution Agreement (the “Agreement”), AGCO and Trimble completed (i) the contribution by Trimble to the Joint Venture of Trimble’s OneAg business (“OneAg”), which is Trimble’s agricultural business, excluding certain Global Navigation Satellite System and guidance technologies, and $8.1 million of cash, (ii) the contribution by AGCO to the Joint Venture of its interest in JCA Industries, LLC d/b/a JCA Technologies and $46.0 million of cash, and (iii) the purchase by AGCO from Trimble of membership interests in the Joint Venture in exchange for the payment by AGCO to Trimble of $1,954.0 million in cash, subject to customary working capital and other adjustments. Immediately following the closing and as a result of the transaction, AGCO directly and indirectly owns an 85% interest in the Joint Venture and Trimble owns a 15% interest in the Joint Venture. The purchase price was funded using net proceeds from the issuance of Senior Notes due 2027 and 2034, a term loan facility and the remainder through other borrowings and cash on hand. Refer to Note 9 for further information. AGCO began consolidating PTx Trimble within its consolidated financial statements on April 1, 2024.

The Company is accounting for the Joint Venture transaction as a business combination using the acquisition method of accounting which requires assets acquired and liabilities assumed to be recorded at their acquisition date fair value. The Company preliminarily allocated the purchase price of the acquisition to identified assets acquired, liabilities assumed, and noncontrolling interests based on their estimated fair values as of the acquisition date. The excess of the purchase price over the aggregate fair values was recorded as goodwill. The Company calculated the fair value of the assets acquired using the income, market or cost approach (or a combination thereof). Fair values of certain assets were determined based on Level 3 inputs, including estimated future cash flows, discount rates, royalty rates, growth rates and sales projections, all of which require significant management judgment and are susceptible to change. The purchase price allocation was based upon preliminary information and is subject to change if additional information about the facts and circumstances that existed at the acquisition date becomes available. The Company continues to evaluate the valuation of the assets acquired and liabilities assumed related to the acquisition, including inventories, developed technologies, trade names, favorable contracts, customer relationships, deferred taxes and redeemable noncontrolling interests. The final fair value of the net assets acquired may result in adjustments to these assets and liabilities, including goodwill. Any subsequent measurement period adjustments are not expected to have a material impact on the Company's results of operations. The goodwill consists of expected future economic benefits that will arise from expected future product sales, operating efficiencies and sales channel synergies that may result from the Joint Venture. The Company expects that the portion of the goodwill balance allocated to the US business will be deductible for tax purposes, and the goodwill allocated to the Joint Venture’s investments in foreign subsidiaries, primarily in Germany and France, will not be deductible for tax purposes. At this time, the assignment of goodwill to reporting units has not yet been completed.

The estimated purchase consideration transferred consisted of the following (in millions):


	Purchase Consideration
Total cash consideration for OneAg	$	1,954.0
Estimated working capital and other adjustments	(45.6)
Equity transaction associated with JCA noncontrolling interest (a)	3.1
Total purchase consideration	$	1,911.5

(a) Equity transaction associated with JCA noncontrolling interest

The preliminary fair values of the assets acquired, liabilities assumed and noncontrolling interests as of the acquisition date are presented in the following table (in millions):


	As of April 1, 2024
Cash	$	6.3
Accounts receivable	12.3
Inventories	58.9
Other current assets	3.5
Property, plant and equipment	21.6
Deferred tax assets	0.1
Right-of-use lease assets	2.4
Other assets (non-current)	0.1
Intangible assets	545.0
Goodwill	1,803.3
Total assets acquired	$	2,453.5

Accounts payable	$	(2.1)
Accrued expenses	(11.3)
Other current liabilities	(14.0)
Operating lease liabilities	(1.6)
Deferred tax liabilities	(4.0)
Other noncurrent liabilities	(9.6)
Total liabilities assumed	$	(42.6)

Redeemable noncontrolling interests (b)	(499.4)

Net assets acquired	$	1,911.5

(b) Redeemable noncontrolling interests

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


	Fair Value		Useful Life(1)

Developed Technology	$	453.0	7 -10 years
Customer Relationships	39.4		20 years
Tradename	10.7		5 years
Favorable contracts	41.9		2 - 7 years
	$	545.0

____________________________________

(1) Based on available information and certain assumptions that we believe are reasonable.


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Unaudited Consolidated Pro Forma Results
Net sales	$	3,246.6	$	3,948.4	$	6,258.7	$	7,419.5
Net income (loss) attributable to AGCO Corporation and subsidiaries	(354.4)		314.3		(188.7)		515.5

These pro forma results have been prepared for comparative purposes only and are not necessarily indicative of the results of operations as they would have been had the acquisitions occurred on the assumed dates, nor are they necessarily an indication of future operating results.

The amounts of PTx Trimble's net sales and net loss attributable to AGCO Corporation and subsidiaries consolidated by the Company since the acquisition date were $69.0 million and $10.0 million, respectively.

During the six months ended June 30, 2024, transaction-related costs of approximately $23.3 million were expensed as incurred to “Selling, general and administrative expenses” in the Company's Condensed Consolidated Statements of Operations.

Net Income (Loss) Per Common Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Basic net income (loss) per share:
Net income (loss) attributable to AGCO Corporation and subsidiaries	$ (367.1)	$ 319.2	$ (199.1)	$ 551.8
Weighted average number of common shares outstanding (in shares)	74.6	74.9	74.6	74.9
Basic net income (loss) per share attributable to AGCO Corporation and subsidiaries (in dollars per share)	$ (4.92)	$ 4.26	$ (2.67)	$ 7.37
Diluted net income (loss) per share:
Net income (loss) attributable to AGCO Corporation and subsidiaries	$ (367.1)	$ 319.2	$ (199.1)	$ 551.8
Weighted average number of common shares outstanding (in shares)	74.6	74.9	74.6	74.9
Dilutive SSARs, performance share awards and RSUs (in shares)	0.1	0.1	0.1	0.1
Weighted average number of common shares and common share equivalents outstanding for purposes of computing diluted net income per share (in shares)	74.7	75.0	74.7	75.0
Diluted net income (loss) per share attributable to AGCO Corporation and subsidiaries (in dollars per share)	$ (4.92)	$ 4.26	$ (2.67)	$ 7.36

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References

+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

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+ Details

Income Taxes	6 Months Ended
Income Taxes	Jun. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES At June 30, 2024 and December 31, 2023, the Company had approximately $387.1 million and $351.2 million, respectively, of gross unrecognized income tax benefits, all of which would affect the Company’s effective tax rate if recognized. Gross unrecognized income tax benefits as of June 30, 2024 and December 31, 2023 exclude certain indirect favorable effects that relate to other tax jurisdictions of approximately $123.7 million and $103.9 million, respectively. In addition, the gross unrecognized income tax benefits as of June 30, 2024 and December 31, 2023 exclude certain deposits made in a foreign jurisdiction of approximately $26.0 million, net of $19.1 million refunds received, and $26.9 million, net of $19.7 million refunds received, respectively, associated with an ongoing audit. At June 30, 2024 and December 31, 2023, the Company had approximately $11.3 million and $9.9 million, respectively, of accrued or deferred taxes related to uncertain income tax positions connected with ongoing income tax audits in various jurisdictions that it expects to settle or pay in the next 12 months, reflected in “Other current liabilities” in the Company’s Condensed Consolidated Balance Sheets. At June 30, 2024 and December 31, 2023, the Company had approximately $378.3 million and $344.2 million, respectively, of accrued taxes reflected in “Other noncurrent liabilities” in the Company’s Condensed Consolidated Balance Sheets. The Company accrues interest and penalties related to unrecognized tax benefits in its provision for income taxes. At June 30, 2024 and December 31, 2023, the Company had accrued interest and penalties related to unrecognized tax benefits of approximately $29.7 million and $27.9 million, respectively. Generally, tax years 2019 through 2023 remain open to examination by taxing authorities in the United States and certain other foreign tax jurisdictions. The Company and its subsidiaries are routinely examined by tax authorities in the United States and in various state, local and foreign jurisdictions. As of June 30, 2024, a number of income tax examinations in foreign jurisdictions are ongoing. The Company maintains a valuation allowance to reserve against its net deferred tax assets in certain foreign jurisdictions. 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 regularly assesses the likelihood that its deferred tax assets will be recovered from estimated future taxable income and available tax planning strategies and has determined that all adjustments to the valuation allowances have been 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 its remaining net deferred tax assets, net of the valuation allowance, in future years. In recent decisions, the Brazilian courts have confirmed a favorable tax ruling regarding the taxability of certain state value added tax incentive benefits, which allowed the Company to record a $31.7 million reduction in the provision for income taxes during the three months ended June 30, 2024. In 2008 and 2012, 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, 2023 would have been approximately 131.5 million Brazilian reais (or approximately $27.1 million) and subject to significant interest and penalties. In the first quarter of 2023, the Brazilian government issued a “Litigation Zero” tax amnesty program, whereby cases being disputed at the administrative court level of review for a period of more than ten years could be considered for amnesty. Enrollment in the amnesty program was not considered an admission of guilt and allowed for outstanding contested cases to be settled at a significant monetary discount. The Company contested the disallowance and had been historically advised by its legal and tax advisors that its position was allowable under the tax laws of Brazil. After weighing various impacts involved with enrollment, including the avoidance of potential interest, penalties and legal costs, the Company enrolled in the program in the quarter ended March 31, 2023. The Company recorded approximately 182.6 million Brazilian reais (or approximately $34.8 million) within “Income tax provision” net of associated U.S. income tax credits of approximately $8.4 million and completed its installment payments related to its enrollment in the program during the year ended December 31, 2023.

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
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-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

Reference 2: http://www.xbrl.org/2003/role/exampleRef
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-Name Accounting Standards Codification
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-Topic 740
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Segment Reporting (Tables)

6 Months Ended

Jun. 30, 2024

Segment Reporting [Abstract]

Sales Information By Reportable Segments

Segment results for the three and six months ended June 30, 2024 and 2023 and assets as of June 30, 2024 and December 31, 2023 based on the Company’s reportable segments are as follows (in millions):


Three Months Ended June 30,	North America		South America		Europe/Middle East		Asia/Pacific/Africa		Total Segments
2024
Net sales	$	837.8	$	348.9	$	1,902.9	$	157.0	$	3,246.6
Income from operations	76.7		12.6		288.5		12.4		390.2
Depreciation	17.4		9.6		33.5		4.7		65.2
Capital expenditures	18.3		8.2		70.2		1.3		98.0
2023
Net sales	$	996.8	$	598.6	$	1,990.8	$	236.5	$	3,822.7
Income from operations	136.9		121.4		295.2		20.9		574.4
Depreciation	15.2		8.9		27.7		4.7		56.5
Capital expenditures	34.4		13.5		62.8		1.0		111.7



Six Months Ended June 30,	North America		South America		Europe/Middle East		Asia/Pacific/Africa		Total Segments
2024
Net sales	$	1,567.4	$	652.3	$	3,631.9	$	323.7	$	6,175.3
Income from operations	119.1		28.8		571.4		20.4		739.7
Depreciation	34.6		19.0		66.1		8.8		128.5
Capital expenditures	35.9		23.5		131.6		2.0		193.0
2023
Net sales	$	1,919.9	$	1,102.4	$	3,694.6	$	439.3	$	7,156.2
Income from operations	239.0		220.9		534.6		39.0		1,033.5
Depreciation	30.1		16.7		54.5		8.8		110.1
Capital expenditures	71.7		33.8		129.8		1.7		237.0
Assets
As of June 30, 2024	$	1,973.2	$	1,266.9	$	3,314.5	$	903.5	$	7,458.1
As of December 31, 2023	1,883.2		1,394.9		3,017.4		875.2		7,170.7

Reconciliation of Income from Operations from Segment to Consolidated

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


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Segment income from operations	$	390.2	$	574.4	$	739.7	$	1,033.5
Impairment charges	(5.1)		—		(5.1)		—
Loss on business held for sale	(494.6)		—		(494.6)		—
Corporate expenses	(62.9)		(45.0)		(115.9)		(87.1)
Amortization of intangibles	(31.7)		(14.1)		(45.6)		(28.9)
Stock compensation expense	(7.4)		(12.8)		(15.4)		(26.3)
Restructuring expenses	(30.2)		(6.1)		(31.2)		(7.5)
Consolidated income (loss) from operations	$	(241.7)	$	496.4	$	31.9	$	883.7

Reconciliation of Assets from Segment to Consolidated


	June 30, 2024		December 31, 2023
Segment assets	$	7,458.1	$	7,170.7
Cash and cash equivalents	657.3		595.5
Investments in affiliates	518.3		512.7
Deferred tax assets, other current and noncurrent assets	1,506.9		1,500.1
Assets held for sale(1)	376.5		—
Intangible assets, net	689.9		308.8
Goodwill	2,407.8		1,333.4
Consolidated total assets	$	13,614.8	$	11,421.2

____________________________________

Acquisitions (Purchase Consideration Transferred) (Details) - OneAg $ in Millions	Apr. 01, 2024 USD ($)
Business Acquisition [Line Items]
Total cash consideration for OneAg	$ 1,954.0
Estimated working capital and other adjustments	(45.6)
Equity transaction associated with JCA noncontrolling interest	3.1
Total purchase consideration	$ 1,911.5
Transfer of percentage interest	15.00%

Stockholders' Equity (Schedule of Stockholders' Equity) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2022
Increase (Decrease) in Temporary Equity [Roll Forward]
Balance beginning of period	$ 0.0		$ 0.0
Net loss	(1.8)		(1.8)
Foreign currency translation adjustments	(1.0)		(1.0)
Initial fair value of redeemable noncontrolling interests (Note 2)	499.4		499.4
Investment by redeemable noncontrolling interest (Note 2)	8.1		8.1
Balance end of period	504.7		504.7
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance beginning of period	4,755.2	$ 4,132.9	4,656.8	$ 3,882.6
Stock compensation	6.4	13.3	14.8	27.3
Issuance of stock awards	(0.2)	(1.8)	(13.1)	(20.2)
SSARs exercised		(0.1)	(0.1)	(1.2)
Comprehensive income:
Net loss	(367.1)		(199.1)
Net income	(368.9)	319.2	(200.9)	551.8
Other comprehensive income (loss):
Foreign currency translation adjustments	(135.1)		(187.1)
Foreign currency translation adjustments	(136.1)	74.2	(188.1)	118.6
Defined benefit pension plans, net of tax	1.9	1.9	3.6	3.7
Deferred gains and losses on derivatives, net of tax	(2.0)	(4.5)	4.9	(4.0)
Payment of dividends to stockholders	(208.3)	(396.1)	(229.9)	(414.1)
Equity transaction associated with JCA noncontrolling interest (Note 2)	3.1		3.1
Balance end of period	4,053.9	4,139.0	4,053.9	4,139.0	$ 3,882.6
Accounting Standards Update [Extensible Enumeration]					Accounting Standards Update 2016-13 [Member]
Cumulative Effect, Period of Adoption, Adjustment
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance beginning of period				(5.5)
Other comprehensive income (loss):
Balance end of period					$ (5.5)
Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance beginning of period	0.7	0.7	0.7	0.7
Other comprehensive income (loss):
Balance end of period	0.7	0.7	0.7	0.7	0.7
Additional Paid-in Capital
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance beginning of period	0.0	24.7	4.1	30.2
Stock compensation	6.4	13.3	14.8	27.3
Issuance of stock awards	(0.3)	(1.8)	(12.7)	(20.2)
SSARs exercised		(0.1)	(0.1)	(1.2)
Other comprehensive income (loss):
Equity transaction associated with JCA noncontrolling interest (Note 2)	3.1		3.1
Balance end of period	9.2	36.1	9.2	36.1	30.2
Retained Earnings
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance beginning of period	6,505.9	5,863.7	6,360.0	5,654.6
Issuance of stock awards	0.1		(0.4)
Comprehensive income:
Net loss	(367.1)		(199.1)
Net income		319.2		551.8
Other comprehensive income (loss):
Payment of dividends to stockholders	(208.3)	(396.1)	(229.9)	(414.1)
Balance end of period	5,930.6	5,786.8	5,930.6	5,786.8	5,654.6
Retained Earnings \| Cumulative Effect, Period of Adoption, Adjustment
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance beginning of period				(5.5)
Other comprehensive income (loss):
Balance end of period					(5.5)
Accumulated Other Comprehensive Loss
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance beginning of period	(1,751.5)	(1,756.4)	(1,708.1)	(1,803.1)
Other comprehensive income (loss):
Foreign currency translation adjustments	(135.1)		(187.1)
Foreign currency translation adjustments		74.2		118.6
Defined benefit pension plans, net of tax	1.9	1.9	3.6	3.7
Deferred gains and losses on derivatives, net of tax	(2.0)	(4.5)	4.9	(4.0)
Balance end of period	(1,886.7)	(1,684.8)	(1,886.7)	(1,684.8)	(1,803.1)
Noncontrolling Interests
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance beginning of period	0.1	0.2	0.1	0.2
Other comprehensive income (loss):
Balance end of period	$ 0.1	$ 0.2	$ 0.1	$ 0.2	$ 0.2

Condensed Consolidated Statements of Cash Flows (Parenthetical) $ in Millions	Jun. 30, 2024 USD ($)
Statement of Cash Flows [Abstract]
Cash and cash equivalents classified as held for sale	$ 20.0

Business Held for Sale (Tables)

6 Months Ended

Jun. 30, 2024

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Assets and Liabilities Classified as Held for Sale

The major categories of assets and liabilities of the business classified as held for sale as of June 30, 2024 were as follows:


	June 30, 2024
Current assets held for sale:
Cash and cash equivalents	$	20.0
Accounts and notes receivable, net	203.8
Inventories, net	186.7
Other current assets	22.5
Total current assets held for sale	433.0
Property, plant and equipment, net	98.6

Right-of-use lease assets	15.7
Other assets	8.1
Intangible assets, net	112.3
Goodwill	213.6
Total assets held for sale	$	881.3

Current liabilities held for sale:
Accounts payable	$	117.7
Accrued expenses	105.9
Other current liabilities	46.7
Total current liabilities held for sale	270.3
Long-term debt, less current portion and debt issuance costs	0.8
Deferred tax liabilities	11.4
Pension and postretirement health care benefits	0.3
Operating lease liabilities	10.9
Other noncurrent liabilities	4.5
Total liabilities held for sale	$	298.2

Disposal group, net	$	583.1

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

+ References

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+ Details

Supplier Finance Programs (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Supplier Finance Program [Line Items]
Amount outstanding reflected in Accounts payable	$ 92.9	$ 82.7
Minimum
Supplier Finance Program [Line Items]
Payment terms period	30 days
Maximum
Supplier Finance Program [Line Items]
Payment terms period	180 days

Inventories (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Finished goods	$ 1,605.1	$ 1,460.7
Repair and replacement parts	808.6	823.1
Work in process	279.0	255.2
Raw materials	806.7	901.7
Inventories, net	3,499.4	3,440.7
Reserve for surplus and obsolete inventories	$ 261.0	$ 238.9

Net Income (Loss) Per Common Share

6 Months Ended

Jun. 30, 2024

Earnings Per Share [Abstract]

Net Income (Loss) Per Common Share

NET INCOME (LOSS) PER COMMON SHARE

Basic net income (loss) per common share is computed by dividing net income (loss) by the weighted average number of common shares outstanding during each period. Diluted net income (loss) per common share assumes the exercise of outstanding stock-settled stock appreciation rights ("SSARs") and the vesting of restricted stock unit awards ("RSUs") using the treasury stock method when there is no other circumstance other than the passage of time under which they would not be issued, and the effects of such assumptions are dilutive.


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Basic net income (loss) per share:
Net income (loss) attributable to AGCO Corporation and subsidiaries	$	(367.1)	$	319.2	$	(199.1)	$	551.8
Weighted average number of common shares outstanding	74.6		74.9		74.6		74.9
Basic net income (loss) per share attributable to AGCO Corporation and subsidiaries	$	(4.92)	$	4.26	$	(2.67)	$	7.37
Diluted net income (loss) per share:
Net income (loss) attributable to AGCO Corporation and subsidiaries	$	(367.1)	$	319.2	$	(199.1)	$	551.8
Weighted average number of common shares outstanding	74.6		74.9		74.6		74.9
Dilutive SSARs and RSUs	0.1		0.1		0.1		0.1
Weighted average number of common shares and common share equivalents outstanding for purposes of computing diluted net income per share	74.7		75.0		74.7		75.0
Diluted net income (loss) per share attributable to AGCO Corporation and subsidiaries	$	(4.92)	$	4.26	$	(2.67)	$	7.36

Goodwill and Other Intangible Assets (Narrative) (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
External-use software, net	$ 0.9	$ 6.3
Disposal Group, Held-for-Sale, Not Discontinued Operations \| Grain & Protein (G&P)
Finite-Lived Intangible Assets [Line Items]
Intangible assets included in held for sale	112.3
Disposal Group, Held-for-Sale, Not Discontinued Operations \| Grain & Protein (G&P) \| External use software
Finite-Lived Intangible Assets [Line Items]
Intangible assets included in held for sale	$ 4.5
Minimum
Finite-Lived Intangible Assets [Line Items]
Estimated useful life	1 year
Maximum
Finite-Lived Intangible Assets [Line Items]
Estimated useful life	50 years

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Stockholders' Equity (Tables)

6 Months Ended

Jun. 30, 2024

Equity [Abstract]

Schedule of Stockholders Equity


	Redeemable Noncontrolling Interests		Common Stock		Additional Paid-in Capital		Retained Earnings		Accumulated Other Comprehensive Loss		Noncontrolling Interests		Total Stockholders’ Equity
Balance, March 31, 2024	$	—	$	0.7	$	—	$	6,505.9	$	(1,751.5)	$	0.1	$	4,755.2
Stock compensation	—		—		6.4		—		—		—		6.4
Issuance of stock awards	—		—		(0.3)		0.1		—		—		(0.2)


Comprehensive income:
Net loss	(1.8)		—		—		(367.1)		—		—		(367.1)
Other comprehensive income (loss):
Foreign currency translation adjustments	(1.0)		—		—		—		(135.1)		—		(135.1)
Defined benefit pension plans, net of tax	—		—		—		—		1.9		—		1.9
Deferred gains and losses on derivatives, net of tax	—		—		—		—		(2.0)		—		(2.0)
Payment of dividends to stockholders	—		—		—		(208.3)		—		—		(208.3)



Equity transaction associated with JCA noncontrolling interest (Note 2)	—		—		3.1		—		—		—		3.1
Initial fair value of redeemable noncontrolling interests (Note 2)	499.4		—		—		—		—		—		—
Investment by redeemable noncontrolling interest (Note 2)	8.1		—		—		—		—		—		—

Balance, June 30, 2024	$	504.7	$	0.7	$	9.2	$	5,930.6	$	(1,886.7)	$	0.1	$	4,053.9


	Redeemable Noncontrolling Interests		Common Stock		Additional Paid-in Capital		Retained Earnings		Accumulated Other Comprehensive Loss		Noncontrolling Interests		Total Stockholders’ Equity
Balance, December 31, 2023	$	—	$	0.7	$	4.1	$	6,360.0	$	(1,708.1)	$	0.1	$	4,656.8
Stock compensation	—		—		14.8		—		—		—		14.8
Issuance of stock awards	—		—		(12.7)		(0.4)		—		—		(13.1)
SSARs exercised	—		—		(0.1)		—		—		—		(0.1)
Comprehensive income:
Net loss	(1.8)		—		—		(199.1)		—		—		(199.1)
Other comprehensive income (loss):
Foreign currency translation adjustments	(1.0)		—		—		—		(187.1)		—		(187.1)
Defined benefit pension plans, net of tax	—		—		—		—		3.6		—		3.6
Deferred gains and losses on derivatives, net of tax	—		—		—		—		4.9		—		4.9
Payment of dividends to stockholders	—		—		—		(229.9)		—		—		(229.9)


Equity transaction associated with JCA noncontrolling interest (Note 2)	—		—		3.1		—		—		—		3.1
Initial fair value of redeemable noncontrolling interests (Note 2)	499.4		—		—		—		—		—		—
Investment by redeemable noncontrolling interest (Note 2)	8.1		—		—		—		—		—		—


Balance, June 30, 2024	$	504.7	$	0.7	$	9.2	$	5,930.6	$	(1,886.7)	$	0.1	$	4,053.9


	Common Stock		Additional Paid-in Capital		Retained Earnings		Accumulated Other Comprehensive Loss		Noncontrolling Interests		Total Stockholders’ Equity
Balance, March 31, 2023	$	0.7	$	24.7	$	5,863.7	$	(1,756.4)	$	0.2	$	4,132.9
Stock compensation	—		13.3		—		—		—		13.3
Issuance of stock awards	—		(1.8)		—		—		—		(1.8)
SSARs exercised	—		(0.1)		—		—		—		(0.1)
Comprehensive income:
Net income	—		—		319.2		—		—		319.2
Other comprehensive income (loss):
Foreign currency translation adjustments	—		—		—		74.2		—		74.2
Defined benefit pension plans, net of tax	—		—		—		1.9		—		1.9
Deferred gains and losses on derivatives, net of tax	—		—		—		(4.5)		—		(4.5)
Payment of dividends to stockholders	—		—		(396.1)		—		—		(396.1)





Balance, June 30, 2023	$	0.7	$	36.1	$	5,786.8	$	(1,684.8)	$	0.2	$	4,139.0


	Common Stock		Additional Paid-in Capital		Retained Earnings		Accumulated Other Comprehensive Loss		Noncontrolling Interests		Total Stockholders’ Equity
Balance, December 31, 2022	$	0.7	$	30.2	$	5,654.6	$	(1,803.1)	$	0.2	$	3,882.6
Stock compensation	—		27.3		—		—		—		27.3
Issuance of stock awards	—		(20.2)		—		—		—		(20.2)
SSARs exercised	—		(1.2)		—		—		—		(1.2)
Comprehensive income:
Net income	—		—		551.8		—		—		551.8
Other comprehensive income (loss):
Foreign currency translation adjustments	—		—		—		118.6		—		118.6
Defined benefit pension plans, net of tax	—		—		—		3.7		—		3.7
Deferred gains and losses on derivatives, net of tax	—		—		—		(4.0)		—		(4.0)
Payment of dividends to stockholders	—		—		(414.1)		—		—		(414.1)



Adoption of ASU 2016-13 by finance joint ventures	—		—		(5.5)		—		—		(5.5)
Balance, June 30, 2023	$	0.7	$	36.1	$	5,786.8	$	(1,684.8)	$	0.2	$	4,139.0

Summary of Accumulated Other Comprehensive Income (Loss)


	Defined Benefit Pension Plans		Deferred Net (Losses) Gains on Derivatives		Cumulative Translation Adjustment		Total
Accumulated other comprehensive loss, December 31, 2023	$	(238.6)	$	(0.8)	$	(1,468.7)	$	(1,708.1)
Other comprehensive income (loss) before reclassifications	—		1.1		(187.1)		(186.0)
Net losses reclassified from accumulated other comprehensive loss	3.6		3.8		—		7.4
Other comprehensive income (loss)	3.6		4.9		(187.1)		(178.6)
Accumulated other comprehensive loss, June 30, 2024	$	(235.0)	$	4.1	$	(1,655.8)	$	(1,886.7)

Reclassifications Out of Accumulated Other Comprehensive Income (Loss)


	Amount Reclassified from Accumulated Other Comprehensive Loss				Affected Line Item within the Condensed Consolidated Statements of Operations
Details about Accumulated Other Comprehensive Loss Components	Three Months Ended June 30, 2024(1)		Three Months Ended June 30, 2023(1)
Derivatives:
Net losses on foreign currency contracts	$	1.6	$	1.3	Cost of goods sold
Net losses on commodity contracts	0.2		0.5		Cost of goods sold

Net gains on treasury rate locks	(0.3)		—		Interest expense, net
Reclassification before tax	1.5		1.8
Income tax benefit	—		(0.6)		Income tax provision
Reclassification net of tax	$	1.5	$	1.2

Defined benefit pension plans:
Amortization of net actuarial losses	$	2.2	$	2.2	Other expense, net(2)
Amortization of prior service cost	0.4		0.4		Other expense, net(2)
Reclassification before tax	2.6		2.6
Income tax benefit	(0.7)		(0.7)		Income tax provision
Reclassification net of tax	$	1.9	$	1.9

Net losses reclassified from accumulated other comprehensive loss	$	3.4	$	3.1

__________________________________

(1) Losses included within the Condensed Consolidated Statements of Operations for the three months ended June 30, 2024 and 2023, respectively.

(2) These accumulated other comprehensive loss components are included in the computation of net periodic pension and postretirement benefit cost. See Note 15 for additional information.


	Amount Reclassified from Accumulated Other Comprehensive Loss				Affected Line Item within the Condensed Consolidated Statements of Operations
Details about Accumulated Other Comprehensive Loss Components	Six Months Ended June 30, 2024(1)		Six Months Ended June 30, 2023(1)
Derivatives:
Net losses on foreign currency contracts	$	4.2	$	3.5	Cost of goods sold
Net losses on commodity contracts	0.2		0.1		Cost of goods sold

Net gains on treasury rate locks	(0.3)		—		Interest expense, net
Reclassification before tax	4.1		3.6
Income tax benefit	(0.3)		(0.9)		Income tax provision
Reclassification net of tax	$	3.8	$	2.7

Defined benefit pension plans:
Amortization of net actuarial losses	$	4.4	$	4.2	Other expense, net(2)
Amortization of prior service cost	0.8		0.8		Other expense, net(2)
Reclassification before tax	5.2		5.0
Income tax benefit	(1.6)		(1.3)		Income tax provision
Reclassification net of tax	$	3.6	$	3.7

Net losses reclassified from accumulated other comprehensive loss	$	7.4	$	6.4

__________________________________

(1) Losses included within the Condensed Consolidated Statements of Operations for the six months ended June 30, 2024 and 2023, respectively.

(2) These accumulated other comprehensive loss components are included in the computation of net periodic pension and postretirement benefit cost. See Note 15 for additional information.

Indebtedness (Components of Indebtedness) (Details) € in Millions, $ in Millions	Jun. 30, 2024 USD ($)	Jun. 30, 2024 EUR (€)	Mar. 21, 2024	Jan. 25, 2024	Dec. 31, 2023 USD ($)	Sep. 29, 2023	Oct. 06, 2021	Jan. 25, 2019 EUR (€)
Debt Instrument [Line Items]
Debt issuance costs	$ (13.0)				$ (3.1)
Total long-term debt	3,863.7				1,379.5
Total long-term indebtedness	3,595.2				1,377.2
Senior Notes \| $5.450% Senior notes due 2027
Debt Instrument [Line Items]
Interest rate percentage			5.45%
Long-term debt, gross	400.0				0.0
Senior Notes \| $5.800% Senior notes due 2034
Debt Instrument [Line Items]
Interest rate percentage			5.80%
Long-term debt, gross	700.0				0.0
Senior Notes \| 0.800% Senior notes due 2028
Debt Instrument [Line Items]
Interest rate percentage							0.80%
Long-term debt, gross	642.0	€ 600.0			664.0
Senior Notes \| 1.002% EIB Senior term loan due 2025
Debt Instrument [Line Items]
Interest rate percentage								1.002%
Long-term debt, gross	267.5				276.7			€ 250.0
Less current portion of long-term debt	(267.5)				0.0
Senior Notes \| Senior term loans due between 2025 and 2028
Debt Instrument [Line Items]
Long-term debt, gross	156.8	€ 146.5			162.1
Other long term debt
Debt Instrument [Line Items]
Long-term debt, gross	1.0				3.1
Less current portion of long-term debt	(1.0)				(2.3)
Revolving Credit Facility \| Line of Credit \| Credit facility, expires 2027
Debt Instrument [Line Items]
Long-term debt, gross	760.0				0.0
Term Loan
Debt Instrument [Line Items]
Long-term debt, gross	500.0				0.0
Multi-Currency Finance Contract \| EIB Senior term loan due 2029
Debt Instrument [Line Items]
Interest rate percentage						3.98%
Long-term debt, gross	267.5				276.7
Multi-Currency Finance Contract \| EIB Senior term loan due 2030
Debt Instrument [Line Items]
Interest rate percentage				3.416%
Long-term debt, gross	$ 181.9				$ 0.0

Derivative Instruments and Hedging Activities (After-Tax Impact of Changes in Fair Value and Derivatives Designated as Cash Flow Hedges) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Cost of goods sold	$ 2,409.1	$ 2,817.0	$ 4,568.0	$ 5,295.6
Interest expense, net	29.9	5.8	31.8	6.3
Cash Flow Hedging \| Designated as Hedging Instrument
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gain (Loss) Recognized in Accumulated Other Comprehensive Loss	(3.5)	(5.7)	1.1	(6.7)
Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Income	(1.5)	(1.2)
Cash Flow Hedging \| Designated as Hedging Instrument \| Cost of goods sold
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Income			(3.8)	(2.7)
Cash Flow Hedging \| Designated as Hedging Instrument \| Foreign currency contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gain (Loss) Recognized in Accumulated Other Comprehensive Loss	(3.5)	(5.0)	(4.7)	(6.9)
Cash Flow Hedging \| Designated as Hedging Instrument \| Foreign currency contracts \| Cost of goods sold
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Income	(1.5)	(0.8)	(3.8)	(2.6)
Cash Flow Hedging \| Designated as Hedging Instrument \| Commodity contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gain (Loss) Recognized in Accumulated Other Comprehensive Loss	0.0	(0.7)	(0.3)	0.2
Cash Flow Hedging \| Designated as Hedging Instrument \| Commodity contracts \| Cost of goods sold
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Income	(0.2)	$ (0.4)	(0.2)	$ (0.1)
Cash Flow Hedging \| Designated as Hedging Instrument \| Treasury rate locks
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gain (Loss) Recognized in Accumulated Other Comprehensive Loss	0.0		6.1
Cash Flow Hedging \| Designated as Hedging Instrument \| Treasury rate locks \| Interest expense, net
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Income	$ 0.2		$ 0.2

Restructuring Expenses (Tables)

6 Months Ended

Jun. 30, 2024

Restructuring and Related Activities [Abstract]

Schedule of Restructuring Reserve

Restructuring expenses activity, which relates to severance and other related costs, during the three and six months ended June 30, 2024 is summarized as follows (in millions):



Balance as of December 31, 2023	$	7.8
First quarter 2024 provision	1.1
First quarter 2024 cash activity	(3.4)
Foreign currency translation	(0.2)
Balance as of March 31, 2024	$	5.3
Second quarter 2024 provision	30.5
Second quarter 2024 provision reversal	(0.4)
Second quarter 2024 cash activity	(2.1)
Reclassified to held for sale(1)	(0.4)
Foreign currency translation	(0.3)
Balance as of June 30, 2024	$	32.6

____________________________________

(1) Reclassification resulting from the Company's classification of the G&P business as held for sale. Refer to Note 3 for additional information.

Derivative Instruments and Hedging Activities (Derivatives not Designated as Hedging Instruments) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Foreign currency contracts \| Not Designated as Hedging Instrument \| Other expense, net
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gain (loss) recognized in net income	$ (33.5)	$ 37.9	$ (41.8)	$ 49.1

Stockholders' Equity (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions			1 Months Ended	2 Months Ended	3 Months Ended		6 Months Ended
	Jul. 11, 2024	Apr. 25, 2024	Jan. 31, 2024	Dec. 31, 2023	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Nov. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Remaining authorized repurchase amount					$ 57.0		$ 57.0
Cash dividends declared and paid per common share (in dollars per share)					$ 2.79	$ 5.28	$ 3.08	$ 5.52
Subsequent Event
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividends declared (in dollars per share)	$ 0.29
Special Dividends
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividends declared (in dollars per share)		$ 2.50
Accelerated Share Repurchase
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock repurchase program, authorized amount									$ 53.0
Stock repurchased and retired (in shares)			82,883	371,669
Share Repurchase Program
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock repurchased and retired (in shares)					0		0

Accounts Receivable Sales Agreements (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]
Outstanding accounts receivable securitization	$ 187.7		$ 187.7		$ 211.3
Other expense, net
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loss on sales of receivables	35.9	$ 30.3	63.8	$ 58.8
Trade Accounts Receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Cash received from receivables sold	221.4		221.4		254.1
United States, Canada, Europe, and Brazil
Accounts, Notes, Loans and Financing Receivable [Line Items]
Cash received from receivables sold	$ 2,400.0		$ 2,400.0		$ 2,500.0

Product Warranty (Tables)

6 Months Ended

Jun. 30, 2024

Guarantees and Product Warranties [Abstract]

Schedule of Warranty Reserve Activity


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Balance at beginning of period	$	793.1	$	677.0	$	800.8	$	640.0
Acquisitions	4.1		—		4.1		—
Accruals for warranties issued	93.8		107.8		185.9		197.5
Settlements made and deferred revenue recognized	(93.6)		(63.4)		(175.6)		(127.9)
Reclassified to held for sale(1)	(11.6)		—		(11.6)		—
Foreign currency translation	(11.2)		5.8		(29.0)		17.6
Balance at June 30	$	774.6	$	727.2	$	774.6	$	727.2

____________________________________

(1) Reclassification resulting from the Company's classification of the G&P business as held for sale. Refer to Note 3 for additional information.

Basis of Presentation (Details) $ in Millions, ₺ in Billions, $ in Billions	3 Months Ended		6 Months Ended
	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2024 TRY (₺)	Jun. 30, 2024 ARS ($)	Dec. 31, 2023 USD ($)
Basis Of Presentation [Line Items]
Net sales	$ 3,246.6	$ 3,822.7	$ 6,175.3	$ 7,156.2
Assets	13,614.8		13,614.8				$ 11,421.2
Cash and cash equivalents	657.3		657.3				$ 595.5
Turkey \| Subsidiaries
Basis Of Presentation [Line Items]
Net sales			263.0
Assets	248.7		248.7		₺ 8.2
Turkey \| Turkish lira \| Subsidiaries
Basis Of Presentation [Line Items]
Assets, reporting currency denominated value	232.0		232.0		7.6
Liabilities, reporting currency denominated value	140.4		140.4		₺ 4.6
Argentia \| AGCO Capital
Basis Of Presentation [Line Items]
Net monetary assets	5.6		5.6			$ 5.1
Argentia \| Subsidiaries
Basis Of Presentation [Line Items]
Net sales			99.5
Assets	262.6		262.6			238.7
Argentia \| Pesos
Basis Of Presentation [Line Items]
Assets, reporting currency denominated value	95.9		95.9			87.2
Liabilities, reporting currency denominated value	15.4		15.4			14.0
Cash and cash equivalents	$ 37.7		$ 37.7			$ 34.3