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Pension and Other Postretirement Benefits (Tables)
 12 Months Ended
Dec. 31, 2019
Retirement Benefits [Abstract]  
Summary of Weighted Average Assumptions Used
The following table summarizes the weighted-average assumptions used to determine the benefit obligations at December 31 for the U.S. Plans:
Pensions and Other Benefits
December 31,
20192018
Discount rate qualified3.22 %4.35 %
Discount rate nonqualified plan2.74 %3.97 %
Discount rate other benefits2.89 %4.08 %
Rate of compensation increase3.10 %3.10 %
Components of Defined Benefit Postretirement Plans
The following table summarizes the components of our defined benefit postretirement plans and reflect a measurement date of December 31:

Pensions
Other Benefits (1)
December 31,
(in Millions)2019201820192018
Change in projected benefit obligation
Projected benefit obligation at January 1$1,261.3  $1,385.8  $18.9  $19.0  
Service cost4.2  6.3  —  —  
Interest cost47.6  44.5  0.6  0.7  
Actuarial loss (gain) (2)
153.0  (89.9) (2.2) 0.6  
Amendments—  —  —  (0.1) 
Foreign currency exchange rate changes and other—  (0.4) —  —  
Plan participants’ contributions—  —  0.4  0.7  
Special termination benefits—  3.9  —  —  
Settlements(3.5) (4.4) —  —  
Curtailments—  (0.9) —  0.2  
Benefits paid(83.5) (83.6) (1.9) (2.2) 
Projected benefit obligation at December 31$1,379.1  $1,261.3  $15.8  $18.9  
Change in plan assets
Fair value of plan assets at January 1$1,269.7  $1,339.9  $—  $—  
Actual return on plan assets196.2  (18.0) —  —  
Foreign currency exchange rate changes(0.2) (0.2) —  —  
Company contributions11.9  36.0  1.5  1.5  
Plan participants’ contributions—  —  0.4  0.7  
Settlements(3.5) (4.4) —  —  
Benefits paid(83.5) (83.6) (1.9) (2.2) 
Fair value of plan assets at December 31$1,390.6  $1,269.7  $—  $—  
Funded Status
U.S. plans with assets$44.2  $42.8  $—  $—  
U.S. plans without assets(22.4) (24.6) (15.8) (18.9) 
Non-U.S. plans with assets(1.3) (1.9) —  —  
All other plans(9.0) (7.9) —  —  
Net funded status of the plan (liability)$11.5  $8.4  $(15.8) $(18.9) 
Amount recognized in the consolidated balance sheets:
Pension asset (3)
$44.2  $42.8  $—  $—  
Accrued benefit liability (4)
(32.7) (34.4) (15.8) (18.9) 
Total$11.5  $8.4  $(15.8) $(18.9) 
____________________
(1)  Refer to Note 11 for information on our discontinued postretirement benefit plans.
(2) The actuarial loss in 2019 and actuarial gain in 2018 was primarily driven by the change in discount rate on the U.S. qualified plan. Additionally, the Society of Actuaries released an updated mortality table projection scale for measurement of retirement program obligations in both 2019 and 2018. Adoption of the most recent projection scale for each applicable year decreased the U.S. defined benefit obligations by approximately $13 million and $4 million at December 31, 2019 and 2018, respectively.
(3) Recorded as "Other assets including long-term receivables, net" on the consolidated balance sheets.
(4) Recorded as "Accrued pension and other postretirement benefits, current and long-term" on the consolidated balance sheets.
The amounts in accumulated other comprehensive income (loss) that have not yet been recognized as components of net periodic benefit cost are as follows:
 Pensions
Other Benefits (1)
 December 31,
(in Millions)2019201820192018
Prior service (cost) credit$(0.9) $(1.1) $—  $(0.1) 
Net actuarial (loss) gain(367.3) (370.6) 5.5  4.2  
Accumulated other comprehensive income (loss) – pretax$(368.2) $(371.7) $5.5  $4.1  
Accumulated other comprehensive income (loss) – net of tax (2)
(277.2) (226.1) 3.7  2.6  
____________________
(1)  Refer to Note 11 for information on our discontinued postretirement benefit plans.
(2) Accumulated other comprehensive income (loss) - net of tax as of December 31, 2019 includes the reclassification of stranded income tax effects. See Note 2 for more information.
Schedule of Benefit Obligations in Excess of Fair Value of Plan Assets
(in Millions)December 31
Information for pension plans with projected benefit obligation in excess of plan assets20192018
Projected benefit obligations$37.2  $39.1  
Accumulated benefit obligations37.5  39.2  
Fair value of plan assets4.5  4.7  
Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets
(in Millions)December 31
Information for pension plans with accumulated benefit obligation in excess of plan assets20192018
Projected benefit obligations$37.2  $39.1  
Accumulated benefit obligations37.5  39.2  
Fair value of plan assets4.5  4.7  
Changes in Plan Assets and Benefit Obligations for Continuing Operations Recognized in Other Comprehensive Loss (Income)
Other changes in plan assets and benefit obligations for continuing operations recognized in other comprehensive loss (income) are as follows:
 Pensions
Other Benefits (1)
 Year Ended December 31,
(in Millions)2019201820192018
Current year net actuarial loss (gain)$11.0  $(8.7) $(2.3) $0.8  
Current year prior service cost (credit)—  —  —  (0.1) 
Amortization of net actuarial (loss) gain(12.9) (16.0) 1.0  0.5  
Amortization of prior service (cost) credit(0.2) (0.4) (0.1) 0.1  
Recognition of prior service cost due to curtailment—  (0.3) —  —  
Transfer of actuarial (loss) gain from continuing to discontinued operations—  —  —  (0.1) 
Curtailment loss (2)
—  (0.9) —  —  
Settlement loss(1.4) (1.8) —  —  
Foreign currency exchange rate changes on the above line items—  (0.4) —  —  
Total recognized in other comprehensive (income) loss, before taxes$(3.5) $(28.5) $(1.4) $1.2  
Total recognized in other comprehensive (income) loss, after taxes(3.0) (22.3) (1.1) 0.9  
____________________
(1)  Refer to Note 11 for information on our discontinued postretirement benefit plans.
(2) During the year ended December 31, 2018, due to the announced plans to separate FMC Lithium, we triggered a curtailment of our U.S. pension plans. As a result, we revalued our pension plans as of October 31, 2018 in addition to the normal December 31st remeasurement, which resulted in adjustments to comprehensive income. The $0.9 million in 2018 reflects the adjustment to the continuing operations liability and other comprehensive income based on the revaluation of the plan. The associated curtailment expense is recorded within "Non-operating pension and postretirement charges (income)" on the consolidated statements of income (loss).
Weighted-Average Assumptions Used for and Components of Net Annual Benefit Cost (Income)
The following table summarizes the weighted-average assumptions used for and the components of net annual benefit cost (income):
 Year Ended December 31,
 Pensions
Other Benefits (1)
(in Millions, except for percentages)201920182017201920182017
Discount rate 4.36 %3.68 %4.22 %4.08 %3.41 %3.77 %
Expected return on plan assets4.25 %5.00 %6.50 %—  —  —  
Rate of compensation increase3.10 %3.10 %3.60 %—  —  —  
Components of net annual benefit cost:
Service cost$4.2  $6.3  $7.4  $—  $—  $—  
Interest cost47.6  44.5  44.3  0.6  0.7  0.7  
Expected return on plan assets(53.4) (63.0) (79.1) —  —  —  
Amortization of prior service cost0.2  0.4  0.6  0.1  (0.1) (0.1) 
Amortization of net actuarial and other (gain) loss12.9  16.0  15.5  (1.0) (0.5) (0.9) 
Recognized (gain) loss due to settlement1.4  1.8  3.2  —  —  —  
Net annual benefit cost (income)$12.9  $6.0  $(8.1) $(0.3) $0.1  $(0.3) 
___________________
(1)  Refer to Note 11 for information on our discontinued postretirement benefit plans.
Fair Value of Pension Plan Assets by Asset Class
The following tables present our fair value hierarchy for our major categories of pension plan assets by asset class. See Note 19 for the definition of fair value and the descriptions of Level 1, 2 and 3 in the fair value hierarchy. 
(in Millions)December 31, 2019
Quoted Prices
in Active
Markets for
Identical
Assets
(Level 1)
Significant
Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Cash and short-term investments$19.8  $19.8  $—  $—  
Fixed income investments:
Investment contracts150.1  —  150.1  —  
U.S. Government Securities331.0  294.3  36.7  —  
Mutual funds65.2  65.2  —  —  
Corporate debt instruments824.5  —  824.5  —  
Total assets$1,390.6  $379.3  $1,011.3  $—  

(in Millions)December 31, 2018Quoted Prices
in Active
Markets for
Identical
Assets
(Level 1)		Significant
Other
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)
Cash and short-term investments$92.5  $92.5  $—  $—  
Fixed income investments:
Investment contracts144.9  —  144.9  —  
U.S. Government Securities 469.9  465.1  4.8  —  
Mutual funds 55.7  55.7  —  —  
Corporate debt instruments506.7  —  506.7  —  
Total assets$1,269.7  $613.3  $656.4  $—  
Contributions to Pension and Other Postretirement Benefit Plans
We made the following contributions to our pension and other postretirement benefit plans:
  
Year Ended December 31,
(in Millions)20192018
U.S. qualified pension plan$7.0  $30.0  
U.S. nonqualified pension plan4.9  6.0  
Other postretirement benefits1.5  1.5  
Total$13.4  $37.5  
Estimated Net Future Benefit Payments
The following table reflects the estimated future benefit payments for our pension and other postretirement benefit plans. These estimates take into consideration expected future service, as appropriate:

Estimated Net Future Benefit Payments
(in Millions)202020212022202320242025 - 2029
Pension Benefits$90.2  $86.7  $86.9  $85.0  $85.3  $408.7  
Other Benefits1.7  1.6  1.5  1.5  1.4  5.4