XML 23 R36.htm IDEA: XBRL DOCUMENT v3.19.3
Pension and Postretirement Benefit Plans (Tables)
 9 Months Ended
Sep. 30, 2019
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 nine months ended September 30, 2019 and 2018 are set forth below (in millions):
 
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
Pension benefits
 
2019
 
2018
 
2019
 
2018
Service cost
 
$
3.9

 
$
4.7

 
$
11.7

 
$
14.4

Interest cost
 
5.1

 
4.9

 
15.7

 
15.1

Expected return on plan assets
 
(6.8
)
 
(9.0
)
 
(21.1
)
 
(27.7
)
Amortization of net actuarial losses
 
2.9

 
3.0

 
9.0

 
9.2

Amortization of prior service cost
 
0.4

 
0.3

 
1.2

 
0.9

Net periodic pension cost
 
$
5.5

 
$
3.9

 
$
16.5

 
$
11.9



 
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
Postretirement benefits
 
2019
 
2018
 
2019
 
2018
Service cost
 
$
0.1

 
$
—

 
$
0.1

 
$
0.1

Interest cost
 
0.3

 
0.4

 
1.0

 
1.1

Amortization of net actuarial losses
 
—

 
—

 
—

 
0.1

Amortization of prior service cost
 
—

 
—

 
0.1

 
0.1

Net periodic postretirement benefit cost
 
$
0.4

 
$
0.4

 
$
1.2

 
$
1.4
Summary of Accumulated Other Comprehensive Income
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 nine months ended September 30, 2019 (in millions):
 
Defined Benefit Pension Plans
 
Deferred Net Gains (Losses) on Derivatives
 
Cumulative Translation Adjustment
 
Total
Accumulated other comprehensive loss, December 31, 2018
$
(282.4
)
 
$
1.4

 
$
(1,274.4
)
 
$
(1,555.4
)
Other comprehensive loss before reclassifications
—

 
(0.3
)
 
(47.6
)
 
(47.9
)
Net losses (gains) reclassified from accumulated other comprehensive loss
8.8

 
(0.6
)
 
—

 
8.2

Other comprehensive income (loss), net of reclassification adjustments
8.8

 
(0.9
)
 
(47.6
)
 
(39.7
)
Accumulated other comprehensive loss, September 30, 2019
$
(273.6
)
 
$
0.5

 
$
(1,322.0
)
 
$
(1,595.1
)

The following table summarizes the activity in accumulated other comprehensive loss related to the Company’s defined pension and postretirement benefit plans during the nine months ended September 30, 2019 (in millions):
 
 
Before-Tax Amount
 
Income Tax
 
After-Tax Amount
Accumulated other comprehensive loss as of December 31, 2018
 
$
(379.8
)
 
$
(97.4
)
 
$
(282.4
)
Amortization of net actuarial losses
 
9.0

 
1.4

 
7.6

Amortization of prior service cost
 
1.3

 
0.1

 
1.2

Accumulated other comprehensive loss as of September 30, 2019
 
$
(369.5
)
 
$
(95.9
)
 
$
(273.6
)