AGCO (AGCO) 10-Q 8 Aug 23 2023 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2023	Aug. 04, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2023
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 (in shares)		74,879,744
Entity Central Index Key	0000880266
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Current Assets:
Cash, cash equivalents and restricted cash	$ 463.5	$ 789.5
Accounts and notes receivable, net	1,706.4	1,221.3
Inventories, net	3,829.9	3,189.7
Other current assets	747.2	538.8
Total current assets	6,747	5,739.3
Property, plant and equipment, net	1,738.6	1,591.2
Right-of-use lease assets	170.8	163.9
Investments in affiliates	507.2	436.9
Deferred tax assets	260.3	228.5
Other assets	302.1	268.7
Intangible assets, net	341	364.4
Goodwill	1,327	1,310.8
Total assets	11,394	10,103.7
Current Liabilities:
Current portion of long-term debt	191.1	187.1
Short-term borrowings	56	8.9
Accounts payable	1,391.1	1,385.3
Accrued expenses	2,445.4	2,271.3
Other current liabilities	218.9	235.4
Total current liabilities	4,302.5	4,088
Long-term debt, less current portion and debt issuance costs	2,014.2	1,264.8
Operating lease liabilities	130.8	125.4
Pension and postretirement health care benefits	161.2	158
Deferred tax liabilities	116.1	112
Other noncurrent liabilities	530.2	472.9
Total liabilities	7,255	6,221.1
Commitments and contingencies (Note 19)
AGCO Corporation stockholders’ equity:
Preferred stock; $0.01 par value, 1,000,000 shares authorized, no shares issued or outstanding in 2023 and 2022	0	0
Common stock; $0.01 par value, 150,000,000 shares authorized, 74,876,364 and 74,600,815 shares issued and outstanding at June 30, 2023 and December 31, 2022, respectively	0.7	0.7
Additional paid-in capital	36.1	30.2
Retained earnings	5,786.8	5,654.6
Accumulated other comprehensive loss	(1,684.8)	(1,803.1)
Total AGCO Corporation stockholders’ equity	4,138.8	3,882.4
Noncontrolling interests	0.2	0.2
Total stockholders’ equity	4,139	3,882.6
Total liabilities and stockholders’ equity	$ 11,394	$ 10,103.7

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2023	Dec. 31, 2022
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)	74,876,364	74,600,815
Common stock, shares outstanding (in shares)	74,876,364	74,600,815

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Statement [Abstract]
Net sales	$ 3,822.7	$ 2,945.2	$ 7,156.2	$ 5,630.9
Cost of goods sold	2,817	2,254.7	5,295.6	4,309.1
Gross profit	1,005.7	690.5	1,860.6	1,321.8
Operating expenses:
Selling, general and administrative expenses	349.3	302.5	679.6	573.6
Engineering expenses	138.8	107.1	258.4	207.4
Amortization of intangibles	14.1	15.4	28.9	30.7
Impairment charges			0	36
Restructuring expenses	6.1	0.4	7.5	3.4
Bad debt expense	1	1.6	2.5	3.2
Income from operations	496.4	263.5	883.7	467.5
Interest expense, net	5.8	5.9	6.3	6.3
Other expense, net	78	21.7	128.4	39.2
Income before income taxes and equity in net earnings of affiliates	412.6	235.9	749	422
Income tax provision	111	71.5	231.2	131.7
Income before equity in net earnings of affiliates	301.6	164.4	517.8	290.3
Equity in net earnings of affiliates	17.6	13.2	34	24.3
Net income	319.2	177.6	551.8	314.6
Net loss attributable to noncontrolling interests	0	0.1	0	14.9
Net loss attributable to noncontrolling interests	$ 319.2	$ 177.7	$ 551.8	$ 329.5
Net income per common share attributable to AGCO Corporation and subsidiaries:
Basic (in dollars per share)	$ 4.26	$ 2.38	$ 7.37	$ 4.41
Diluted (in dollars per share)	4.26	2.37	7.36	4.40
Cash dividends declared and paid per common share (in dollars per share)	$ 5.28	$ 4.72	$ 5.52	$ 4.92
Weighted average number of common and common equivalent shares outstanding:
Basic (in shares)	74.9	74.6	74.9	74.6
Diluted (in shares)	75	74.9	75	74.9

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Statement of Comprehensive Income [Abstract]
Net income	$ 319.2	$ 177.6	$ 551.8	$ 314.6
Other comprehensive income (loss), net of reclassification adjustments:
Foreign currency translation adjustments	74.2	(124.5)	118.6	13.8
Defined benefit pension plans, net of tax	1.9	1.7	3.7	3.4
Deferred gains and losses on derivatives, net of tax	(4.5)	(3.2)	(4)	(6.5)
Other comprehensive income (loss), net of reclassification adjustments	71.6	(126)	118.3	10.7
Comprehensive income	390.8	51.6	670.1	325.3
Comprehensive (income) loss attributable to noncontrolling interests	0	0	0	14
Comprehensive income attributable to AGCO Corporation and subsidiaries	$ 390.8	$ 51.6	$ 670.1	$ 339.3

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Cash flows from operating activities:
Net income	$ 551.8	$ 314.6
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation	110.1	106.5
Amortization of intangibles	28.9	30.7
Stock compensation expense	27.3	17.6
Impairment charges	0	36
Equity in net earnings of affiliates, net of cash received	(33.3)	(23.7)
Deferred income tax benefit	(22.6)	(0.6)
Other	13.7	2.7
Changes in operating assets and liabilities:
Accounts and notes receivable, net	(495.3)	(219.5)
Inventories, net	(555.1)	(888.1)
Other current and noncurrent assets	(241.1)	(91.9)
Accounts payable	1.2	191.1
Accrued expenses	128.7	(46.2)
Other current and noncurrent liabilities	120.7	4.6
Total adjustments	(916.8)	(880.8)
Net cash used in operating activities	(365)	(566.2)
Cash flows from investing activities:
Purchases of property, plant and equipment	(237)	(139.2)
Proceeds from sale of property, plant and equipment	0.4	2.1
Investments in unconsolidated affiliates	(26.2)	(1.5)
Purchase of businesses, net, and net of cash acquired	(0.9)	(111.3)
Other	(3.9)	0
Net cash used in investing activities	(267.6)	(249.9)
Cash flows from financing activities:
Proceeds from indebtedness	780.2	1,067
Repayments of indebtedness	(11.4)	(119.8)
Payment of dividends to stockholders	(414.1)	(368.5)
Payment of minimum tax withholdings on stock compensation	(20.2)	(20.8)
Distributions to noncontrolling interest	0	(11.6)
Payment of debt issuance costs	0	(0.2)
Net cash provided by financing activities	334.5	546.1
Effects of exchange rate changes on cash, cash equivalents and restricted cash	(27.9)	(38.5)
Decrease in cash, cash equivalents and restricted cash	(326)	(308.5)
Cash, cash equivalents and restricted cash, beginning of period	789.5	889.1
Cash, cash equivalents and restricted cash, end of period	$ 463.5	$ 580.6

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2023
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 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, 2022. Results for interim periods are not necessarily indicative of the results for the year. The Company has a wholly-owned subsidiary in Turkey that distributes agricultural equipment and replacement parts within Turkey. On the basis of currently 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. 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 the six months ended and as of June 30, 2023, the Company's wholly-owned subsidiary in Turkey had net sales of approximately $221.7 million and total assets of approximately 3.7 billion Turkish lira (or approximately $141.4 million). The monetary assets and liabilities denominated in the Turkish lira were approximately 3.0 billion Turkish lira (or approximately $117.0 million) and approximately 2.6 billion Turkish lira (or approximately $98.5 million), respectively, as of June 30, 2023. The monetary assets and liabilities were remeasured based on current published exchange rates. The Turkish lira significantly depreciated during the month of June 2023, and as a result, the Company experienced and recorded foreign exchange losses during the second quarter of 2023 associated with the devaluation. The Company is subject to the risk of the imposition of limitations by governments on international transfers of funds. For example, 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 implicitly from certain capital market operations, usually effected to obtain U.S. dollars, has broadened significantly. The Company has a wholly-owned subsidiary in Argentina that assembles and distributes agricultural equipment and replacement parts within Argentina. The Company determined that the Argentina economy was highly inflationary during the third quarter of 2018. For the six months ended and as of June 30, 2023, the Company's wholly-owned subsidiary in Argentina had net sales of approximately $93.6 million and total assets of approximately 44.4 billion pesos (or approximately $173.2 million). The monetary assets of the Company's operations in Argentina denominated in pesos at the official government rate were approximately 14.9 billion pesos (or approximately $58.0 million), inclusive of approximately 7.5 billion pesos (or approximately $29.2 million) in cash and cash equivalents, as of June 30, 2023. The monetary liabilities of the Company's operations in Argentina denominated in pesos at the official government rate were approximately 6.7 billion pesos (or approximately $28.4 million) as of June 30, 2023. In addition, the Company has an obligation to reimburse AGCO Capital Argentina S.A., one of its finance joint ventures with Rabobank, up to $10 million under a guarantee related to the ability of AGCO Capital Argentina S.A. to transfer funds out of Argentina. The finance joint venture in Argentina has net monetary assets denominated in pesos at the official government rate of approximately 24.0 billion (or approximately $6.2 million) as of June 30, 2023, of which a majority is cash and cash equivalents. Future impairments and charges are possible in connection with these exposures. Recent Accounting Pronouncements In June 2016, the FASB issued Accounting Standards Update (“ASU”) 2016-13 “Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments,” which requires measurement and recognition of expected versus incurred credit losses for financial assets. In November 2019, the FASB issued ASU 2019-10, “Financial Instruments - Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842): Effective Dates,” which delays the effective date of ASU 2016-13 for smaller reporting companies and other non-SEC reporting entities. This applies to the Company’s equity method finance joint ventures, which were required to adopt ASU 2016-13 for annual periods beginning after December 15, 2022 and interim periods within those annual periods. The standard, and its subsequent modification, impacts the results of operations and financial condition of the Company’s finance joint ventures. For the adoption of the standard by the Company’s finance joint ventures on January 1, 2023 under the modified retrospective approach, the Company recognized the cumulative effect of ASU 2016-13 as an adjustment to the opening balance of stockholders’ equity as of January 1, 2023 within “Retained earnings.” The cumulative effect was approximately $5.5 million. In September 2022, the FASB issued ASU 2022-04, “Liabilities-Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations.” The new standard requires that a buyer in a supplier finance program disclose sufficient information about the key terms of the program, the amount of outstanding confirmed obligations at period end, where the obligations are presented in the balance sheet, and a rollforward of the obligations during the annual period. This guidance was effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years, except for the rollforward, which is effective for fiscal years beginning after December 15, 2023. Early adoption was permitted. The adoption of ASU 2022-04 resulted in disclosure of the Company's supplier financing programs. Refer to Note 10 for further details.

Acquisitions

Acquisitions	6 Months Ended
	Jun. 30, 2023
Business Combination and Asset Acquisition [Abstract]
Acquisitions	ACQUISITIONS On May 2, 2022, the Company acquired JCA Industries, Inc. (“JCA”) for 63.0 million Canadian dollars (or approximately $49.2 million as of May 2, 2022). JCA is located in Winnipeg, Manitoba, Canada, and specializes in the design of electronic systems and software development to automate and control agricultural equipment. The Company allocated the purchase price to the assets acquired and liabilities assumed based on preliminary estimates of their fair values as of the acquisition date. The acquired net assets primarily consisted of accounts receivable, inventories, other current and noncurrent assets, accounts payable, accrued expenses, other current and noncurrent liabilities, property, plant and equipment, deferred tax liabilities as well as customer relationship, technology and trademark identifiable intangible assets. The Company recorded approximately 43.9 million Canadian dollars (or approximately $34.0 million) of goodwill associated with the acquisition. The results of operations of JCA have been included in the Company’s Condensed Consolidated Financial Statements as of and from the date of acquisition. The associated goodwill has been included in the Company’s North America geographical reportable segment. Proforma financial information related to the acquisition of JCA was not material to the Company’s results of operations. On January 1, 2022, the Company acquired Appareo Systems, LLC (“Appareo”) for approximately $62.1 million, net of approximately $0.5 million of cash. As a result of the acquisition of the remaining 50% interest in IAS, the Company's previous operating joint venture with Appareo, the Company recorded a gain of approximately $3.4 million on the remeasurement of the previously held equity interest within “Other expense, net” in the Company's Condensed Consolidated Statements of Operations. The fair value of the previously held 50% interest in the joint venture as of the acquisition date was approximately $11.2 million. Appareo is headquartered in Fargo, North Dakota and offers engineering, manufacturing, and technology for end-to-end product development. The Company allocated the purchase price to the assets acquired and liabilities assumed based on preliminary estimates of their fair values as of the acquisition date. The acquired net assets primarily consisted of accounts receivable, inventories, other current and noncurrent assets, assets held for sale, lease right-of-use assets and liabilities, accounts payable, accrued expenses, other current and noncurrent liabilities, property, plant and equipment, as well as customer relationship, technology, non-competition agreements and trademark identifiable intangible assets. The Company recorded approximately $25.8 million of goodwill associated with the acquisition. The results of operations of Appareo have been included in the Company’s Condensed Consolidated Financial Statements as of and from the date of acquisition. The associated goodwill has been included in the Company’s North America geographical reportable segment. Proforma financial information related to the acquisition of Appareo was not material to the Company’s results of operations. The acquired identifiable intangible assets of JCA and Appareo as of the date of their respective acquisitions during 2022 are summarized in the following table (in millions): Intangible Asset Amount Weighted-Average Useful Life Customer relationships $ 15.4 10 years Technology 15.4 8 years Trademarks 5.7 10 years Non-competition agreements 1.4 5 years $ 37.9

Restructuring Expenses and Impa

Restructuring Expenses and Impairment Charges	6 Months Ended
	Jun. 30, 2023
Restructuring and Related Activities [Abstract]
Restructuring Expenses and Impairment Charges	RESTRUCTURING EXPENSES AND IMPAIRMENT CHARGES Restructuring Expenses In recent years, the Company has 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 China as well as the rationalization of its grain and protein business, in order to reduce costs in response to fluctuating global market demand. Restructuring expenses activity during the three and six months ended June 30, 2023 is summarized as follows (in millions): Employee Severance Other Related Total Balance as of December 31, 2022 $ 6.8 $ — $ 6.8 First quarter 2023 provision 1.4 — 1.4 First quarter 2023 cash activity (1.0) — (1.0) Foreign currency translation — — — Balance as of March 31, 2023 $ 7.2 — $ 7.2 Second quarter 2023 provision 4.1 2.0 6.1 Second quarter 2023 cash activity (1.7) — (1.7) Foreign currency translation (0.4) — (0.4) Balance as of June 30, 2023 $ 9.2 2.0 $ 11.2 Impairment Charges As a consequence of the conflict between Russia and Ukraine, during the three months ended March 31, 2022, the Company assessed the fair value of its gross assets related to the joint ventures operating in Russia for potential impairment and recorded asset impairment charges of approximately $36.0 million, reflected as “Impairment charges” in its Condensed Consolidated Statements of Operations, with an offsetting benefit of approximately $12.2 million included within “Net income attributable to noncontrolling interests.” The Company sold its interest in its Russian distribution joint venture during the three months ended December 31, 2022. In addition, during the three months ended March 31, 2022, the Company recorded a write-down of its investment in its Russian finance joint venture of approximately $4.8 million, reflected within “Equity in net earnings of affiliates” in its Condensed Consolidated Statements of Operations. The Russian finance joint venture was sold during the three months ended December 31, 2022.

Stock Compensation Plans

Stock Compensation Plans	6 Months Ended
	Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]
Stock Compensation Plans	STOCK COMPENSATION PLANS The Company recorded stock compensation expense as follows for the three and six months ended June 30, 2023 and 2022 (in millions): Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Cost of goods sold $ 0.5 $ 0.3 $ 1.0 $ 0.6 Selling, general and administrative expenses 12.8 10.3 26.3 17.0 Total stock compensation expense $ 13.3 $ 10.6 $ 27.3 $ 17.6 Stock Incentive Plan Under the Company’s Long-Term Incentive Plan (the “Plan”), up to 10,000,000 shares of AGCO common stock may be issued. As of June 30, 2023, of the 10,000,000 shares reserved for issuance under the Plan, 3,591,131 shares were available for grant, assuming the maximum performance level, or 200%, and target, or 100%, total shareholder return are achieved related to the performance award grants discussed below. The Plan allows the Company, under the direction of the Board of Directors’ Talent and Compensation Committee, to make grants of performance shares, stock appreciation rights, restricted stock units (“RSUs”) and restricted stock awards to employees, officers and non-employee directors of the Company. Long-Term Incentive Plan and Related Performance Awards As of June 30, 2023, the Company had 806,222 performance shares outstanding with a weighted-average grant price of $128.93 per share, assuming the Company were to achieve its maximum level of performance, or 200%, and that the total shareholder return modifier related to the 2023, 2022 and 2021 performances awards are achieved at target, or 100%. The total compensation cost related to unearned performance awards not yet recognized, assuming the Company’s current projected assessment of the level of performance that will be achieved, was approximately $56.3 million, and the weighted average period over which it is expected to be recognized is approximately two years. Restricted Stock Unit Awards During the six months ended June 30, 2023, 16,191 shares were issued related to RSUs previously granted in 2020 to certain executives, net of 11,277 shares withheld for taxes. In addition, the shares issued included an adjustment of 25% additional shares based on a total margin improvement metric relative to the Company’s defined peer group that was applicable to executive RSU grants made in 2020. At June 30, 2023, 211,269 restricted stock units were outstanding with weighted-average grant price of $121.57 per share. The total compensation cost related to unearned restricted stock units not yet recognized was approximately $20.4 million, and the weighted average period over which it is expected to be recognized is approximately one and one-half years. Stock-Settled Appreciation Rights (“SSARs”) Certain executives and key managers were eligible to receive grants of SSARs through the year ended December 31, 2020. The Company did not grant any SSARs since the year ended December 31, 2020 and does not currently anticipate granting any SSARs in the future. There were 98,259 SSARs outstanding as of June 30, 2023. As of June 30, 2023, the total compensation cost related to the unvested SSARs not yet recognized was approximately $0.1 million, and the weighted average period over which it is expected to be recognized is approximately six months. Director Restricted Stock Grants The Plan provides for annual restricted stock grants of the Company’s common stock to all non-employee directors. The 2023 grant was made on April 27, 2023 and equated to 12,069 shares of common stock, of which 10,524 shares of common stock were issued after shares were withheld for taxes. The Company recorded stock compensation expense of approximately $1.5 million during the six months ended June 30, 2023 associated with these grants.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	6 Months Ended
	Jun. 30, 2023
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, 2023 are summarized as follows (in millions): North America South America Europe/Middle East Asia/Pacific/Africa Consolidated Balance as of December 31, 2022 $ 667.3 $ 86.0 $ 444.3 $ 113.2 $ 1,310.8 Foreign currency translation 0.9 8.2 8.8 (1.7) 16.2 Balance as of June 30, 2023 $ 668.2 $ 94.2 $ 453.1 $ 111.5 $ 1,327.0 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 1 each fiscal year. Changes in the carrying amount of acquired intangible assets during the six months ended June 30, 2023 are summarized as follows (in millions): Gross carrying amounts: Trademarks and Tradenames Customer Relationships Patents and Technology Land Use Rights Total Balance as of December 31, 2022 $ 191.8 $ 574.5 $ 150.6 $ 6.5 $ 923.4 Foreign currency translation 1.7 4.3 1.8 (0.3) 7.5 Balance as of June 30, 2023 $ 193.5 $ 578.8 $ 152.4 $ 6.2 $ 930.9 Accumulated amortization: Trademarks and Tradenames Customer Relationships Patents and Technology Land Use Rights Total Balance as of December 31, 2022 $ 103.3 $ 440.8 $ 101.5 $ 1.6 $ 647.2 Amortization expense 5.0 18.4 5.4 0.1 28.9 Foreign currency translation 0.8 4.1 1.1 (0.2) 5.8 Balance as of June 30, 2023 $ 109.1 $ 463.3 $ 108.0 $ 1.5 $ 681.9 Indefinite-lived intangible assets: Trademarks and Balance as of December 31, 2022 $ 84.8 Foreign currency translation 0.6 Balance as of June 30, 2023 $ 85.4 The Company amortizes certain acquired identifiable intangible assets primarily on a straight-line basis over their estimated useful lives, which range from four

Indebtedness

Indebtedness	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Indebtedness	INDEBTEDNESS Long-term debt consisted of the following at June 30, 2023 and December 31, 2022 (in millions): June 30, 2023 December 31, 2022 Credit facility, expires 2027 $ 927.9 $ 200.0 1.002% Senior term loan due 2025 272.9 267.3 Senior term loans due between 2023 and 2028 348.8 341.6 0.800% Senior notes due 2028 655.0 641.5 Other long-term debt 4.1 5.1 Debt issuance costs (3.4) (3.6) 2,205.3 1,451.9 Senior term loans due 2023, net of debt issuance costs (188.8) (184.9) Current portion of other long-term debt (2.3) (2.2) Total long-term indebtedness, less current portion $ 2,014.2 $ 1,264.8 Credit 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 U.S. dollar tranche and a $925.0 million multi-currency tranche for loans denominated in U.S. 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 U.S. 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, 2023, the Company had $927.9 million outstanding borrowings under the revolving credit facility and had the ability to borrow $322.1 million. 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 $109.2 million as of June 30, 2023). The credit facility expires on December 31, 2026. Any loans will bear interest at the EURIBOR plus a credit spread. As of June 30, 2023, the Company had no outstanding borrowings under the revolving credit facility. 0.800% Senior Notes Due 2028 On October 6, 2021, the Company issued €600.0 million (or approximately $655.0 million as of June 30, 2023) 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% Senior Term Loan Due 2025 On January 25, 2019, the Company borrowed €250.0 million (or approximately $272.9 million as of June 30, 2023) from the European Investment Bank. 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. Senior Term Loans Due Between 2023 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 €249.0 million in October 2019, October 2021 and April 2022. Of the 2018 senior term loans, the Company repaid an aggregate amount of €144.5 million in August 2021 and February 2022. In aggregate, as of June 30, 2023, the Company had indebtedness of €319.5 million (or approximately $348.8 million as of June 30, 2023) through a group of six remaining related term loan agreements. Two of the term loan agreements in the aggregate amount of €173.0 million (or approximately $188.8 million net of debt issuance costs, as of June 30, 2023) will mature in August and October 2023. The provisions of the term loan agreements are substantially identical, with the exception of interest rate terms and maturities. As of June 30, 2023, for the term loans with a fixed interest rate, interest is payable in arrears on an annual basis, with interest rates ranging from 1.20% to 2.26% and maturity dates between August 2023 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. On August 1, 2023, the Company repaid its 2018 senior term loan due August 2023 of €99.5 million (or approximately $109.2 million). Other Short-Term Borrowings As of June 30, 2023 and December 31, 2022, the Company had short-term borrowings due within one year of approximately $56.0 million and $8.9 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, 2023 and December 31, 2022, outstanding letters of credit totaled approximately $14.7 million and $14.4 million, respectively.

Recoverable Indirect Taxes

Recoverable Indirect Taxes	6 Months Ended
	Jun. 30, 2023
Recoverable Indirect Taxes [Abstract]
Recoverable Indirect Taxes	RECOVERABLE INDIRECT TAXES    The Company’s Brazilian operations incur value added taxes (“VAT”) on certain purchases of raw materials, components and services. These taxes are accumulated as tax credits and create assets that are reduced by the VAT collected from the Company’s sales in the Brazilian market. The Company regularly assesses the recoverability of these tax credits and establishes reserves when necessary against them, through analyses that include, amongst others, the history of realization, the transfer of tax credits to third parties as authorized by the government, anticipated changes in the supply chain and the future expectation of tax debits from the Company’s ongoing operations. The Company believes that these tax credits, net of established reserves, are realizable. The Company had recorded approximately $109.3 million and $94.6 million, respectively, of VAT tax credits, net of reserves, as of June 30, 2023 and December 31, 2022.

Inventories

Inventories	6 Months Ended
	Jun. 30, 2023
Inventory Disclosure [Abstract]
Inventories	INVENTORIES Inventories at June 30, 2023 and December 31, 2022 were as follows (in millions): June 30, 2023 December 31, 2022 Finished goods $ 1,458.0 $ 994.9 Repair and replacement parts 823.0 750.1 Work in process 448.8 369.8 Raw materials 1,100.1 1,074.9 Inventories, net $ 3,829.9 $ 3,189.7

Product Warranty

Product Warranty	6 Months Ended
	Jun. 30, 2023
Guarantees and Product Warranties [Abstract]
Product Warranty	PRODUCT WARRANTY The warranty reserve activity for the three and six months ended June 30, 2023 and 2022, 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, 2023 2022 2023 2022 Balance at beginning of period $ 677.0 $ 614.5 $ 640.0 $ 592.5 Accruals for warranties issued during the period 107.8 61.9 197.5 145.2 Settlements made (in cash or in kind) during the period (63.4) (50.0) (127.9) (107.7) Foreign currency translation 5.8 (36.9) 17.6 (40.5) Balance at June 30 $ 727.2 $ 589.5 $ 727.2 $ 589.5 The Company’s agricultural equipment products generally are warranted against defects in material and workmanship for a period of one The Company recognizes 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.” 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.”

Supplier Finance Programs

Supplier Finance Programs	6 Months Ended
	Jun. 30, 2023
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, 2023, 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, 2023, and December 31, 2022, the amount outstanding that remains unpaid to the banks or other intermediaries totaled $93.8 million and $121.5 million, respectively, and is reflected in “Accounts payable” in the Company’s Condensed Consolidated Balance Sheets.

Net Income Per Common Share

Net Income Per Common Share	6 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
Net Income Per Common Share	NET INCOME PER COMMON SHARE Basic net income per common share is computed by dividing net income by the weighted average number of common shares outstanding during each period. Diluted net income per common share assumes the exercise of outstanding SSARs and the vesting of performance share awards and RSUs, when applicable, 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. 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 per share for the three and six months ended June 30, 2023 and 2022 is as follows (in millions, except per share data): Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Basic net income per share: Net income attributable to AGCO Corporation and subsidiaries $ 319.2 $ 177.7 $ 551.8 $ 329.5 Weighted average number of common shares outstanding 74.9 74.6 74.9 74.6 Basic net income per share attributable to AGCO Corporation and subsidiaries $ 4.26 $ 2.38 $ 7.37 $ 4.41 Diluted net income per share: Net income attributable to AGCO Corporation and subsidiaries $ 319.2 $ 177.7 $ 551.8 $ 329.5 Weighted average number of common shares outstanding 74.9 74.6 74.9 74.6 Dilutive SSARs, performance share awards and RSUs 0.1 0.3 0.1 0.3 Weighted average number of common shares and common share equivalents outstanding for purposes of computing diluted net income per share 75.0 74.9 75.0 74.9 Diluted net income per share attributable to AGCO Corporation and subsidiaries $ 4.26 $ 2.37 $ 7.36 $ 4.40 There were no SSARs outstanding for the three and six months ended June 30, 2023 and 2022 that had an antidilutive impact.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES At June 30, 2023 and December 31, 2022, the Company had approximately $321.3 million and $281.7 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, 2023 and December 31, 2022 exclude certain indirect favorable effects that relate to other tax jurisdictions of approximately $89.2 million and $74.0 million, respectively. In addition, the gross unrecognized income tax benefits as of June 30, 2023 and December 31, 2022 exclude certain deposits made in a foreign jurisdiction of approximately $46.0 million and $45.1 million, respectively, associated with an ongoing audit. At June 30, 2023 and December 31, 2022, the Company had approximately $25.6 million and $10.4 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, 2023 and December 31, 2022, the Company had approximately $298.7 million and $274.1 million, respectively, of accrued taxes reflected in “Other noncurrent liabilities”, and approximately $3.0 million and $2.8 million, respectively, of deferred tax assets related to uncertain tax positions that it expects to settle or pay beyond 12 months, reflected in “Deferred tax assets” 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, 2023 and December 31, 2022, the Company had accrued interest and penalties related to unrecognized tax benefits of approximately $27.8 million and $25.8 million, respectively. Generally, tax years 2017 through 2022 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, 2023, a number of income tax examinations in foreign jurisdictions are ongoing. The Company maintains a valuation allowance to fully 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 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 June 30, 2023, not including interest and penalties, would have been approximately 131.5 million Brazilian reais (or approximately $27.3 million). The amount ultimately in dispute would have been significantly greater because of interest and penalties. The Company has been historically and currently advised by its legal and tax advisors that its position with respect to the deductions is allowable under the tax laws of Brazil. The Company has been contesting the disallowance and historically has maintained that it is not likely that the assessment, interest or penalties would be required to be paid. The ultimate outcome of the case would not have been determined until the Brazilian tax appeal process was completed and the Company’s legal advisors have indicated that would likely take several years. On January 12, 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 would not be considered an admission of guilt with respect to outstanding cases. The amnesty program allowed companies to settle outstanding contested cases at a significant monetary discount. After weighing various impacts involved with enrollment, including the avoidance of potential interest, penalties and legal costs, the Company concluded that it would enroll in the program prior to the quarter ended March 31, 2023. The Company recorded its best estimate of the ultimate settlement under the amnesty program of approximately 182.6 million Brazilian reais (or approximately $34.8 million) within “Income tax provision” for the six months ended June 30, 2023, net of associated U.S. income tax credits of approximately $8.4 million. The Company has paid installment payments of 102.7 million Brazilian reais (or approximately $20.3 million) during the six months ended June 30, 2023 related to the program and expects to pay the remaining balance totaling approximately $16.8 million, inclusive of approximately $2.3 million of positive currency translation, through October 2023.

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities	6 Months Ended
	Jun. 30, 2023
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. During 2023 and 2022, the Company designated 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 $392.9 million and $364.8 million as of June 30, 2023 and December 31, 2022, respectively. Steel Commodity Contracts During 2023 and 2022, the Company designated 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 $2.6 million and $0.9 million as of June 30, 2023 and December 31, 2022, respectively. 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 during the three and six months ended June 30, 2023 and 2022 (in millions): Recognized in Net Income Three Months Ended June 30, Loss Recognized in Accumulated Classification of Loss Loss Reclassified from Accumulated Total Amount of the Line Item in the Condensed Consolidated Statements of Operations Containing Hedge Losses 2023 Foreign currency contracts (1) $ (5.0) Cost of goods sold $ (0.8) $ 2,817.0 Commodity contracts (2) (0.7) Cost of goods sold (0.4) $ 2,817.0 Total $ (5.7) $ (1.2) 2022 Foreign currency contracts $ (2.7) Cost of goods sold $ (1.9) $ 2,254.7 Commodity contracts (4.5) Cost of goods sold (2.1) $ 2,254.7 Total $ (7.2) $ (4.0) Recognized in Net Income Six Months Ended June 30, Gain (Loss) Recognized in Accumulated Classification of Gain (Loss) Loss Reclassified from Accumulated Total Amount of the Line Item in the Condensed Consolidated Statements of Operations Containing Hedge Losses 2023 Foreign currency contracts (1) $ (6.9) Cost of goods sold $ (2.6) $ 5,295.6 Commodity contracts (2) 0.2 Cost of goods sold (0.1) $ 5,295.6 Total $ (6.7) $ (2.7) 2022 Foreign currency contracts $ (6.5) Cost of goods sold (2.0) $ 4,309.1 Commodity contracts (3.1) Cost of goods sold (1.1) $ 4,309.1 Total $ (9.6) $ (3.1) ____________________________________ (1) The outstanding contracts as of June 30, 2023 range in maturity through December 2023. (2) The outstanding contracts as of June 30, 2023 range in maturity through October 2023. 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, 2023 (in millions): Before-Tax Amount Income Tax After-Tax Amount Accumulated derivative net losses as of March 31, 2023 $ (0.6) $ (0.2) $ (0.4) Net changes in fair value of derivatives (7.9) (2.2) (5.7) Net losses reclassified from accumulated other comprehensive loss into income 1.8 0.6 1.2 Accumulated derivative net losses as of June 30, 2023 $ (6.7) $ (1.8) $ (4.9) 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, 2023 (in millions): Before-Tax Amount Income Tax After-Tax Amount Accumulated derivative net losses as of December 31, 2022 $ (1.0) $ (0.1) $ (0.9) Net changes in fair value of derivatives (9.3) (2.6) (6.7) Net losses reclassified from accumulated other comprehensive loss into income 3.6 0.9 2.7 Accumulated derivative net losses as of June 30, 2023 $ (6.7) $ (1.8) $ (4.9) As of June 30, 2023, approximately $1.3 million of derivative realized net losses and $0.4 million of derivative realized net gains, 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 new 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 $270.6 million as of June 30, 2023) 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 (or approximately $163.7 million as of June 30, 2023) 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. The following table summarizes the notional values of the instruments designated as a net investment hedge (in millions): Notional Amount as of June 30, 2023 December 31, 2022 Cross currency swap contract $ 300.0 $ 300.0 Foreign currency denominated debt 163.7 — 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, 2023 and 2022 (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 After-Tax Amount Before-Tax Amount Income Tax After-Tax Amount June 30, 2023 $ (5.7) $ 1.5 $ (4.2) $ (6.7) $ 1.7 $ (5.0) June 30, 2022 16.6 (4.3) 12.3 20.8 (5.4) 15.4 The following table summarizes the changes in the fair value of foreign currency denominated debt designated as a net investment hedge during the three and six months ended June 30, 2023 and 2022 (in millions): Gain Recognized in Accumulated Other Comprehensive Loss for the Three Months Ended Gain Recognized in Accumulated Other Comprehensive Loss for the Six Months Ended Before-Tax Amount Income Tax After-Tax Amount Before-Tax Amount Income Tax After-Tax Amount June 30, 2023 $ 0.4 $ (0.3) $ 0.1 $ 1.3 $ (0.3) $ 1.0 June 30, 2022 — — — — — — Derivative Transactions Not Designated as Hedging Instruments During 2023 and 2022, the Company entered into foreign currency contracts to economically hedge receivables and payables on the Company and its subsidiaries’ balance sheets that are denominated in foreign currencies other than the functional currency. These contracts were classified as non-designated derivative instruments. 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, 2023 and December 31, 2022, the Company had outstanding foreign currency contracts with a notional amount of approximately $4.1 billion and $3.7 billion, respectively. The following table summarizes the impact that changes in the fair value of derivatives not designated as hedging instruments had on net income (in millions): Gain 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, 2023 June 30, 2022 June 30, 2023 June 30, 2022 Foreign currency contracts Other expense, net $ 37.9 $ 0.4 $ 49.1 $ (13.4) The table below sets forth the fair value of derivative instruments as of June 30, 2023 (in millions): Asset Derivatives as of Liability Derivatives as of Balance Sheet Location Fair Value Balance Sheet Location Fair Value Derivative instruments designated as hedging instruments: Foreign currency contracts Other current assets $ 2.9 Other current liabilities $ 8.3 Commodity contracts Other current assets — Other current liabilities 0.4 Cross currency swap contract Other noncurrent assets 26.3 Other noncurrent liabilities — Derivative instruments not designated as hedging instruments: Foreign currency contracts (1) Other current assets 10.4 Other current liabilities 14.9 Total derivative instruments $ 39.6 $ 23.6 __________________________________ (1) The outstanding contracts as of June 30, 2023 range in maturity through September 2023. The table below sets forth the fair value of derivative instruments as of December 31, 2022 (in millions): Asset Derivatives as of Liability Derivatives as of 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 $ 1.3 Commodity contracts Other current assets — Other current liabilities — Cross currency swap contract Other noncurrent assets 33.0 Other noncurrent liabilities — Derivative instruments not designated as hedging instruments: Foreign currency contracts (1) Other current assets 6.6 Other current liabilities 39.1 Total derivative instruments $ 40.9 $ 40.4 ___________________________________ (1) The outstanding contracts as of December 31, 2022 range in maturity through March 2023.

Changes in Stockholders' Equity

Changes in Stockholders' Equity	6 Months Ended
	Jun. 30, 2023
Stockholders' Equity Note [Abstract]
Changes in Stockholders' Equity	CHANGES IN 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, 2023 and 2022 (in millions): Common Additional Retained Accumulated Other Noncontrolling Total Stockholders’ 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, net of reclassification adjustments: 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 Additional Retained Accumulated Other Noncontrolling Total Stockholders’ 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, net of reclassification adjustments: 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 Common Additional Retained Accumulated Other Noncontrolling Total Stockholders’ Balance, March 31, 2022 $ 0.7 $ 2.9 $ 5,306.2 $ (1,635.0) $ 0.1 $ 3,674.9 Stock compensation — 10.6 — — — 10.6 Issuance of stock awards — (0.2) — — — (0.2) Comprehensive income: Net income (loss) — — 177.7 — (0.1) 177.6 Other comprehensive loss, net of reclassification adjustments: Foreign currency translation adjustments — — — (124.6) 0.1 (124.5) Defined benefit pension plans, net of tax — — — 1.7 — 1.7 Deferred gains and losses on derivatives, net of tax — — — (3.2) — (3.2) Payment of dividends to stockholders — — (353.6) — — (353.6) Balance, June 30, 2022 $ 0.7 $ 13.3 $ 5,130.3 $ (1,761.1) $ 0.1 $ 3,383.3 Common Additional Retained Accumulated Other Noncontrolling Total Stockholders’ Balance, December 31, 2021 $ 0.7 $ 3.9 $ 5,182.2 $ (1,770.9) $ 27.9 $ 3,443.8 Stock compensation — 17.6 — — — 17.6 Issuance of stock awards — (7.2) (12.9) — — (20.1) SSARs exercised — (1.0) — — — (1.0) Comprehensive income: Net income (loss) — — 329.5 — (14.9) 314.6 Other comprehensive income, net of reclassification adjustments: Foreign currency translation adjustments — — — 12.9 0.9 13.8 Defined benefit pension plans, net of tax — — — 3.4 — 3.4 Deferred gains and losses on derivatives, net of tax — — — (6.5) — (6.5) Payment of dividends to stockholders — — (368.5) — — (368.5) Distributions to noncontrolling interest — — — — (13.8) (13.8) Balance, June 30, 2022 $ 0.7 $ 13.3 $ 5,130.3 $ (1,761.1) $ 0.1 $ 3,383.3 Total comprehensive income (loss) attributable to noncontrolling interests for the three and six months ended June 30, 2023 and 2022 was as follows (in millions): Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Net income (loss) $ — $ (0.1) $ — $ (14.9) Other comprehensive income: Foreign currency translation adjustments — 0.1 — 0.9 Total comprehensive income (loss) $ — $ — $ — $ (14.0) 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, 2023 (in millions): Defined Benefit Pension Plans Deferred Net (Losses) Gains on Derivatives Cumulative Translation Adjustment Total Accumulated other comprehensive loss, December 31, 2022 $ (231.2) $ (0.9) $ (1,571.0) $ (1,803.1) Other comprehensive (loss) income before reclassifications — (6.7) 118.6 111.9 Net losses reclassified from accumulated other comprehensive loss 3.7 2.7 — 6.4 Other comprehensive income (loss), net of reclassification adjustments 3.7 (4.0) 118.6 118.3 Accumulated other comprehensive loss, June 30, 2023 $ (227.5) $ (4.9) $ (1,452.4) $ (1,684.8) 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, 2023 and 2022 (in millions): Amount Reclassified from Accumulated Other Comprehensive Loss Affected Line Item within the Condensed Consolidated Details about Accumulated Other Comprehensive Loss Components Three Months Ended June 30, 2023 (1) Three Months Ended June 30, 2022 (1) Derivatives: Net losses on foreign currency contracts $ 1.3 $ 2.6 Cost of goods sold Net losses on commodity contracts 0.5 2.8 Cost of goods sold Reclassification before tax 1.8 5.4 (0.6) (1.4) Income tax provision Reclassification net of tax $ 1.2 $ 4.0 Defined benefit pension plans: Amortization of net actuarial losses $ 2.2 $ 2.2 Other expense, net (2) Amortization of prior service cost 0.4 — Other expense, net (2) Reclassification before tax 2.6 2.2 (0.7) (0.5) Income tax provision Reclassification net of tax $ 1.9 $ 1.7 Net losses reclassified from accumulated other comprehensive loss $ 3.1 $ 5.7 __________________________________ (1) Losses included within the Condensed Consolidated Statements of Operations for the three months ended June 30, 2023 and 2022, respectively. (2) These accumulated other comprehensive loss components are included in the computation of net periodic pension and postretirement benefit cost. See Note 16 for additional information on the Company’s defined benefit pension plans. Amount Reclassified from Accumulated Other Comprehensive Loss Affected Line Item within the Condensed Consolidated Details about Accumulated Other Comprehensive Loss Components Six Months Ended June 30, 2023 (1) Six Months Ended June 30, 2022 (1) Derivatives: Net losses on foreign currency contracts $ 3.5 $ 2.7 Cost of goods sold Net losses on commodity contracts 0.1 1.5 Cost of goods sold Reclassification before tax 3.6 4.2 (0.9) (1.1) Income tax provision Reclassification net of tax $ 2.7 $ 3.1 Defined benefit pension plans: Amortization of net actuarial losses $ 4.2 $ 4.4 Other expense, net (2) Amortization of prior service cost 0.8 0.2 Other expense, net (2) Reclassification before tax 5.0 4.6 (1.3) (1.2) Income tax provision Reclassification net of tax $ 3.7 $ 3.4 Net losses reclassified from accumulated other comprehensive loss $ 6.4 $ 6.5 __________________________________ (1) Losses included within the Condensed Consolidated Statements of Operations for the six months ended June 30, 2023 and 2022, respectively. (2) These accumulated other comprehensive loss components are included in the computation of net periodic pension and postretirement benefit cost. See Note 16 for additional information on the Company’s defined benefit pension plans. Share Repurchase Program In November 2021, the Company entered into an accelerated share repurchase (“ASR”) agreement with a financial institution to repurchase an aggregate of $60.0 million shares of its common stock. The Company received 393,733 shares in this transaction as of December 31, 2021. On January 19, 2022, the Company received an additional 113,824 shares upon final settlement of its November 2021 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, 2023, the Company did not purchase any shares directly or enter into any accelerated share repurchase agreements. As of June 30, 2023, the remaining amount authorized to be repurchased under board-approved share repurchase authorizations was approximately $110.0 million, which has no expiration date. Dividends On April 27, 2023, the Company's Board of Directors approved an increase to its quarterly dividend commencing in the second quarter of 2023 by 21% to $0.29 per common share and declared a special variable dividend of $5.00 per common share that was paid during the second quarter of 2023.

Accounts Receivable Sales Agree

Accounts Receivable Sales Agreements	6 Months Ended
	Jun. 30, 2023
Accounts Receivable Sales Agreements [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. As of June 30, 2023 and December 31, 2022, the cash received from receivables sold under the U.S., Canadian, European and Brazilian accounts receivable sales agreements was approximately $1.9 billion and $1.8 billion, respectively. Under the terms of the accounts receivable sales agreements in North America, 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 Consolidated Statements of Operations. The Company does not service the receivables after the sale occurs and does not maintain any direct retained interest in the receivables. The Company reviewed its accounting for the accounts receivable sales agreements and determined that these facilities should be accounted for as off-balance sheet transactions. In addition, the Company sells certain trade receivables under factoring arrangements to other financial institutions around the world. As of June 30, 2023 and December 31, 2022, the cash received from these arrangements was approximately $227.4 million and $226.0 million, 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 $30.3 million and $58.8 million during the three and six months ended June 30, 2023, respectively. Losses on sales of receivables associated with the accounts receivable financing facilities discussed above, reflected within “Other expense, net” in the Company’s Condensed Consolidated Statements of Operations, were approximately $10.2 million and $18.1 million, respectively, during the three and six ended June 30, 2022, respectively. The Company’s finance joint ventures in Europe, Brazil and Australia also provide wholesale financing directly to the Company’s dealers. The receivables associated with these arrangements are without recourse to the Company. The Company does not service the receivables after the sale occurs and does not maintain any direct retained interest in the receivables. As of June 30, 2023 and December 31, 2022, these finance joint ventures had approximately $130.0 million and $69.5 million, respectively, of outstanding accounts receivable associated with these arrangements. The Company accounts for these arrangements as off-balance sheet transactions. 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.

Pension and Postretirement Bene

Pension and Postretirement Benefit Plans	6 Months Ended
	Jun. 30, 2023
Retirement Benefits [Abstract]
Pension and Postretirement Benefit Plans	PENSION AND POSTRETIREMENT BENEFIT PLANS 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, 2023 and 2022 are set forth below (in millions): Three Months Ended June 30, Six Months Ended June 30, Pension benefits 2023 2022 2023 2022 Service cost $ 2.4 $ 3.3 $ 4.8 $ 6.6 Interest cost 7.3 3.8 14.5 7.8 Expected return on plan assets (7.4) (4.4) (14.6) (9.0) Amortization of net actuarial losses 2.2 2.2 4.2 4.4 Amortization of prior service cost 0.4 — 0.7 0.1 Net periodic pension cost $ 4.9 $ 4.9 $ 9.6 $ 9.9 Three Months Ended June 30, Six Months Ended June 30, Postretirement benefits 2023 2022 2023 2022 Service cost $ — $ — $ — $ 0.1 Interest cost 0.3 0.3 0.6 0.5 Amortization of prior service cost — — 0.1 0.1 Net periodic postretirement benefit cost $ 0.3 $ 0.3 $ 0.7 $ 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. The following table summarizes the activity in accumulated other comprehensive loss related to the Company's defined pension and postretirement benefit plans during the six months ended June 30, 2023 (in millions): Before-Tax Amount Income Tax After-Tax Amount Accumulated other comprehensive loss, December 31, 2022 $ (304.4) $ (73.2) $ (231.2) Amortization of prior service cost 0.8 0.2 0.6 Amortization of net actuarial losses 4.2 1.1 3.1 Accumulated other comprehensive loss as of June 30, 2023 $ (299.4) $ (71.9) $ (227.5) During the six months ended June 30, 2023, the Company made approximately $18.3 million of contributions to its defined pension benefit plans. The Company currently estimates its minimum contributions for 2023 to its defined pension benefit plans will aggregate approximately $34.3 million. During the six months ended June 30, 2023, 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 2023.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	6 Months Ended
	Jun. 30, 2023
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. 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 13 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, 2023 and December 31, 2022 are summarized below (in millions): As of June 30, 2023 Level 1 Level 2 Level 3 Total Derivative assets $ — $ 39.6 $ — $ 39.6 Derivative liabilities — 23.6 — 23.6 As of December 31, 2022 Level 1 Level 2 Level 3 Total Derivative assets $ — $ 40.9 $ — $ 40.9 Derivative liabilities — 40.4 — 40.4 The carrying amounts of long-term debt under the Company’s 1.002% senior term loan due 2025 and senior term loans due between 2023 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, 2023, the estimated fair value of the Company's 0.800% senior notes due 2028, based on listed market values, was approximately €500.6 million (or approximately $546.4 million as of June 30, 2023), compared to the carrying value of €600.0 million (or approximately $655.0 million as of June 30, 2023). See Note 6 for additional information on the Company’s long-term debt.

Segment Reporting

Segment Reporting	6 Months Ended
	Jun. 30, 2023
Segment Reporting [Abstract]
Segment Reporting	SEGMENT REPORTING The Company’s four reportable segments distribute a full range of agricultural equipment and related replacement parts. The Company evaluates segment performance primarily based on income from operations. Sales for each segment are based on the location of the third-party customer. The Company’s selling, general and administrative expenses and engineering expenses are 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, 2023 and 2022 and assets as of June 30, 2023 and December 31, 2022 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 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 2022 Net sales $ 739.9 $ 519.2 $ 1,467.6 $ 218.5 $ 2,945.2 Income from operations 50.7 85.5 161.2 30.7 328.1 Depreciation 15.0 7.6 25.3 3.9 51.8 Capital expenditures 15.2 11.2 42.5 4.0 72.9 Six Months Ended June 30, North America South America Europe/Middle East Asia/Pacific/Africa Total Segments 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 2022 Net sales $ 1,440.9 $ 875.6 $ 2,870.7 $ 443.7 $ 5,630.9 Income from operations 105.5 131.6 323.5 64.7 625.3 Depreciation 30.2 14.6 53.5 8.2 106.5 Capital expenditures 30.9 21.2 81.7 5.4 139.2 Assets As of June 30, 2023 $ 1,990.5 $ 1,577.4 $ 3,039.6 $ 847.1 $ 7,454.6 As of December 31, 2022 1,790.3 1,259.8 2,475.6 650.5 6,176.2 A reconciliation from the segment information to the consolidated balances for income from operations and total assets is set forth below (in millions): Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Segment income from operations $ 574.4 $ 328.1 $ 1,033.5 $ 625.3 Impairment charges — — — (36.0) Corporate expenses (45.0) (38.5) (87.1) (70.7) Amortization of intangibles (14.1) (15.4) (28.9) (30.7) Stock compensation expense (12.8) (10.3) (26.3) (17.0) Restructuring expenses (6.1) (0.4) (7.5) (3.4) Consolidated income from operations $ 496.4 $ 263.5 $ 883.7 $ 467.5 June 30, 2023 December 31, 2022 Segment assets $ 7,454.6 $ 6,176.2 Cash, cash equivalents and restricted cash 463.5 789.5 Investments in affiliates 507.2 436.9 Deferred tax assets, other current and noncurrent assets 1,300.7 1,025.9 Intangible assets, net 341.0 364.4 Goodwill 1,327.0 1,310.8 Consolidated total assets $ 11,394.0 $ 10,103.7

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES Leases Lease payment amounts for operating and finance leases with remaining terms greater than one year as of June 30, 2023 and December 31, 2022 were as follows (in millions): June 30, 2023 December 31, 2022 Operating Leases (1) Finance Leases Operating Leases (1) Finance Leases 2023 $ 26.7 $ 0.4 $ 47.8 $ 0.8 2024 44.2 0.6 36.6 0.6 2025 34.3 0.5 27.0 0.4 2026 24.9 0.3 19.1 0.2 2027 15.7 0.3 13.4 0.2 Thereafter 58.2 6.2 51.2 6.0 Total lease payments 204.0 8.3 195.1 8.2 Less: imputed interest (2) (29.4) (2.1) (27.5) (2.1) Present value of leased liabilities $ 174.6 $ 6.2 $ 167.6 $ 6.1 __________________________________ (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. Off-Balance Sheet Arrangements Guarantees The Company maintains a remarketing agreement with its U.S. finance joint venture, AGCO Finance LLC, whereby the Company is obligated to repurchase up to $6.0 million of repossessed equipment each calendar year. The Company believes that any losses that it might incur on the resale of this equipment will not be material, due to the fair value of the underlying equipment. At June 30, 2023, the Company had outstanding guarantees of indebtedness owed to related and third parties of approximately $33.1 million, primarily related to dealer and end-user financing of equipment. Such guarantees generally obligate the Company to repay outstanding finance obligations owed to financial institutions if dealers or end users default on such loans through 2028. Losses under such guarantees historically have been insignificant. In addition, the Company generally would expect to be able to recover a significant portion of the amounts paid under such guarantees from the sale of the underlying financed farm equipment, as the fair value of such equipment is expected to be sufficient to offset a substantial portion of the amounts paid. 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, 2023, the Company had accrued approximately $15.4 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 $187.0 million. Other At June 30, 2023, the Company had outstanding designated and non-designated foreign exchange contracts with a gross notional amount of approximately $4,474.4 million. The outstanding contracts as of June 30, 2023 range in maturity through December 2023. The Company also had outstanding designated steel commodity contracts with a gross notional amount of approximately $2.6 million that range in maturity through October 2023. 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. Contingencies 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. See Note 12 for the discussion of the Company's resolution of the disputed deductions under a tax amnesty program. 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 judgement in the Company’s favor, and in April 2023 Deere filed a Notice of Appeal with the U.S. Court of Appeals for the Federal Circuit. 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.

Revenue

Revenue	6 Months Ended
	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Revenue	REVENUE Contract Liabilities Contract liabilities relate to the following: (1) unrecognized revenues where advance 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 advance 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 advance payment of consideration precedes the Company’s performance with respect to 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, 2023 and 2022 were as follows (in millions): Three Months Ended June 30, 2023 2022 Balance at beginning of period $ 259.6 $ 232.4 Advance consideration received 58.0 31.5 Revenue recognized during the period for extended warranty contracts, maintenance services and technology services (26.8) (20.4) Revenue recognized during the period related to grain storage and protein production systems (17.9) (13.9) Foreign currency translation 1.7 (11.9) Balance at June 30 $ 274.6 $ 217.7 Six Months Ended June 30, 2023 2022 Balance at beginning of period $ 239.0 $ 226.2 Advance consideration received 116.5 74.5 Revenue recognized during the period for extended warranty contracts, maintenance services and technology services (51.7) (39.0) Revenue recognized during the period related to grain storage and protein production systems (33.9) (28.5) Foreign currency translation 4.7 (15.5) Balance at June 30 $ 274.6 $ 217.7 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, 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. During the three and six months ended June 30, 2022, the Company recognized approximately $28.3 million and $52.4 million of revenue that was recorded as a contract liability at the beginning of 2022. 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, 2023 are $85.2 million for the remainder of 2023, $83.3 million in 2024, $51.9 million in 2025, $25.5 million in 2026 and $14.2 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, 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 three months ended June 30, 2022 disaggregated by primary geographical markets and major products consisted of the following (in millions): North America South America Europe/Middle East (1) Asia/Pacific/Africa Consolidated (1) Primary geographical markets: United States $ 583.4 $ — $ — $ — $ 583.4 Canada 125.8 — — — 125.8 Brazil — 423.5 — — 423.5 Other South America — 92.0 — — 92.0 Germany — — 288.1 — 288.1 France — — 257.6 — 257.6 United Kingdom and Ireland — — 157.8 — 157.8 Finland and Scandinavia — — 196.1 — 196.1 Italy — — 103.7 — 103.7 Other Europe — — 417.6 — 417.6 Middle East and Algeria — — 46.6 — 46.6 Africa — — — 34.5 34.5 Asia — — — 97.3 97.3 Australia and New Zealand — — — 86.7 86.7 Mexico, Central America and Caribbean 30.7 3.7 — — 34.4 $ 739.9 $ 519.2 $ 1,467.6 $ 218.5 $ 2,945.2 Major products: Tractors $ 263.4 $ 291.3 $ 976.5 $ 112.4 $ 1,643.6 Replacement parts 119.5 36.6 270.8 23.1 450.0 Grain storage and protein production systems 155.5 41.6 45.7 43.6 286.4 Combines, application equipment and other machinery 201.5 149.7 174.5 39.4 565.1 $ 739.9 $ 519.2 $ 1,467.6 $ 218.5 $ 2,945.2 ____________________________________ (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 Net sales for the six months ended June 30, 2022 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 Consolidated Primary geographical markets: United States $ 1,153.7 $ — $ — $ — $ 1,153.7 Canada 226.9 — — — 226.9 Brazil — 697.1 — — 697.1 Other South America — 171.3 — — 171.3 Germany — — 605.3 — 605.3 France — — 529.2 — 529.2 United Kingdom and Ireland — — 303.2 — 303.2 Finland and Scandinavia — — 393.1 — 393.1 Italy — — 175.2 — 175.2 Other Europe — — 784.7 — 784.7 Middle East and Algeria — — 80.0 — 80.0 Africa — — — 70.5 70.5 Asia — — — 201.9 201.9 Australia and New Zealand — — — 171.3 171.3 Mexico, Central America and Caribbean 60.3 7.2 — — 67.5 $ 1,440.9 $ 875.6 $ 2,870.7 $ 443.7 $ 5,630.9 Major products: Tractors $ 515.3 $ 497.9 $ 1,891.6 $ 237.8 $ 3,142.6 Replacement parts 214.1 74.8 556.8 49.8 895.5 Grain storage and protein production systems 286.7 81.6 77.0 81.1 526.4 Combines, application equipment and other machinery 424.9 221.3 345.2 75.0 1,066.4 $ 1,440.9 $ 875.6 $ 2,870.7 $ 443.7 $ 5,630.9 ____________________________________ (1) Rounding may impact the summation of amounts.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Pay vs Performance Disclosure
Net income attributable to AGCO Corporation and subsidiaries	$ 319.2	$ 177.7	$ 551.8	$ 329.5

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jun. 30, 2023
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

Basis of Presentation (Policies

Basis of Presentation (Policies)	6 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements In June 2016, the FASB issued Accounting Standards Update (“ASU”) 2016-13 “Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments,” which requires measurement and recognition of expected versus incurred credit losses for financial assets. In November 2019, the FASB issued ASU 2019-10, “Financial Instruments - Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842): Effective Dates,” which delays the effective date of ASU 2016-13 for smaller reporting companies and other non-SEC reporting entities. This applies to the Company’s equity method finance joint ventures, which were required to adopt ASU 2016-13 for annual periods beginning after December 15, 2022 and interim periods within those annual periods. The standard, and its subsequent modification, impacts the results of operations and financial condition of the Company’s finance joint ventures. For the adoption of the standard by the Company’s finance joint ventures on January 1, 2023 under the modified retrospective approach, the Company recognized the cumulative effect of ASU 2016-13 as an adjustment to the opening balance of stockholders’ equity as of January 1, 2023 within “Retained earnings.” The cumulative effect was approximately $5.5 million. In September 2022, the FASB issued ASU 2022-04, “Liabilities-Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations.” The new standard requires that a buyer in a supplier finance program disclose sufficient information about the key terms of the program, the amount of outstanding confirmed obligations at period end, where the obligations are presented in the balance sheet, and a rollforward of the obligations during the annual period. This guidance was effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years, except for the rollforward, which is effective for fiscal years beginning after December 15, 2023. Early adoption was permitted. The adoption of ASU 2022-04 resulted in disclosure of the Company's supplier financing programs. Refer to Note 10 for further details.

Acquisitions (Tables)

Acquisitions (Tables)	6 Months Ended
	Jun. 30, 2023
Business Combination and Asset Acquisition [Abstract]
Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination	The acquired identifiable intangible assets of JCA and Appareo as of the date of their respective acquisitions during 2022 are summarized in the following table (in millions): Intangible Asset Amount Weighted-Average Useful Life Customer relationships $ 15.4 10 years Technology 15.4 8 years Trademarks 5.7 10 years Non-competition agreements 1.4 5 years $ 37.9

Restructuring Expenses and Im_2

Restructuring Expenses and Impairment Charges (Tables)	6 Months Ended
	Jun. 30, 2023
Restructuring and Related Activities [Abstract]
Schedule of Restructuring Reserve by Type of Cost	Restructuring expenses activity during the three and six months ended June 30, 2023 is summarized as follows (in millions): Employee Severance Other Related Total Balance as of December 31, 2022 $ 6.8 $ — $ 6.8 First quarter 2023 provision 1.4 — 1.4 First quarter 2023 cash activity (1.0) — (1.0) Foreign currency translation — — — Balance as of March 31, 2023 $ 7.2 — $ 7.2 Second quarter 2023 provision 4.1 2.0 6.1 Second quarter 2023 cash activity (1.7) — (1.7) Foreign currency translation (0.4) — (0.4) Balance as of June 30, 2023 $ 9.2 2.0 $ 11.2

Stock Compensation Plans (Table

Stock Compensation Plans (Tables)	6 Months Ended
	Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]
Schedule of Stock Compensation Expense	The Company recorded stock compensation expense as follows for the three and six months ended June 30, 2023 and 2022 (in millions): Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Cost of goods sold $ 0.5 $ 0.3 $ 1.0 $ 0.6 Selling, general and administrative expenses 12.8 10.3 26.3 17.0 Total stock compensation expense $ 13.3 $ 10.6 $ 27.3 $ 17.6

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	Changes in the carrying amount of goodwill during the six months ended June 30, 2023 are summarized as follows (in millions): North America South America Europe/Middle East Asia/Pacific/Africa Consolidated Balance as of December 31, 2022 $ 667.3 $ 86.0 $ 444.3 $ 113.2 $ 1,310.8 Foreign currency translation 0.9 8.2 8.8 (1.7) 16.2 Balance as of June 30, 2023 $ 668.2 $ 94.2 $ 453.1 $ 111.5 $ 1,327.0
Schedule of Finite-Lived Intangible Assets by Major Class	Changes in the carrying amount of acquired intangible assets during the six months ended June 30, 2023 are summarized as follows (in millions): Gross carrying amounts: Trademarks and Tradenames Customer Relationships Patents and Technology Land Use Rights Total Balance as of December 31, 2022 $ 191.8 $ 574.5 $ 150.6 $ 6.5 $ 923.4 Foreign currency translation 1.7 4.3 1.8 (0.3) 7.5 Balance as of June 30, 2023 $ 193.5 $ 578.8 $ 152.4 $ 6.2 $ 930.9 Accumulated amortization: Trademarks and Tradenames Customer Relationships Patents and Technology Land Use Rights Total Balance as of December 31, 2022 $ 103.3 $ 440.8 $ 101.5 $ 1.6 $ 647.2 Amortization expense 5.0 18.4 5.4 0.1 28.9 Foreign currency translation 0.8 4.1 1.1 (0.2) 5.8 Balance as of June 30, 2023 $ 109.1 $ 463.3 $ 108.0 $ 1.5 $ 681.9
Schedule of Indefinite-lived Intangible Assets by Major Class	Indefinite-lived intangible assets: Trademarks and Balance as of December 31, 2022 $ 84.8 Foreign currency translation 0.6 Balance as of June 30, 2023 $ 85.4

Indebtedness (Tables)

Indebtedness (Tables)	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Schedule of Debt	Long-term debt consisted of the following at June 30, 2023 and December 31, 2022 (in millions): June 30, 2023 December 31, 2022 Credit facility, expires 2027 $ 927.9 $ 200.0 1.002% Senior term loan due 2025 272.9 267.3 Senior term loans due between 2023 and 2028 348.8 341.6 0.800% Senior notes due 2028 655.0 641.5 Other long-term debt 4.1 5.1 Debt issuance costs (3.4) (3.6) 2,205.3 1,451.9 Senior term loans due 2023, net of debt issuance costs (188.8) (184.9) Current portion of other long-term debt (2.3) (2.2) Total long-term indebtedness, less current portion $ 2,014.2 $ 1,264.8

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2023
Inventory Disclosure [Abstract]
Schedule of Inventory	Inventories at June 30, 2023 and December 31, 2022 were as follows (in millions): June 30, 2023 December 31, 2022 Finished goods $ 1,458.0 $ 994.9 Repair and replacement parts 823.0 750.1 Work in process 448.8 369.8 Raw materials 1,100.1 1,074.9 Inventories, net $ 3,829.9 $ 3,189.7

Product Warranty (Tables)

Product Warranty (Tables)	6 Months Ended
	Jun. 30, 2023
Guarantees and Product Warranties [Abstract]
Schedule of Warranty Reserve Activity	The warranty reserve activity for the three and six months ended June 30, 2023 and 2022, 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, 2023 2022 2023 2022 Balance at beginning of period $ 677.0 $ 614.5 $ 640.0 $ 592.5 Accruals for warranties issued during the period 107.8 61.9 197.5 145.2 Settlements made (in cash or in kind) during the period (63.4) (50.0) (127.9) (107.7) Foreign currency translation 5.8 (36.9) 17.6 (40.5) Balance at June 30 $ 727.2 $ 589.5 $ 727.2 $ 589.5

Net Income Per Common Share (Ta

Net Income Per Common Share (Tables)	6 Months Ended
	Jun. 30, 2023
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 per share for the three and six months ended June 30, 2023 and 2022 is as follows (in millions, except per share data): Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Basic net income per share: Net income attributable to AGCO Corporation and subsidiaries $ 319.2 $ 177.7 $ 551.8 $ 329.5 Weighted average number of common shares outstanding 74.9 74.6 74.9 74.6 Basic net income per share attributable to AGCO Corporation and subsidiaries $ 4.26 $ 2.38 $ 7.37 $ 4.41 Diluted net income per share: Net income attributable to AGCO Corporation and subsidiaries $ 319.2 $ 177.7 $ 551.8 $ 329.5 Weighted average number of common shares outstanding 74.9 74.6 74.9 74.6 Dilutive SSARs, performance share awards and RSUs 0.1 0.3 0.1 0.3 Weighted average number of common shares and common share equivalents outstanding for purposes of computing diluted net income per share 75.0 74.9 75.0 74.9 Diluted net income per share attributable to AGCO Corporation and subsidiaries $ 4.26 $ 2.37 $ 7.36 $ 4.40

Derivative Instruments and He_2

Derivative Instruments and Hedging Activities (Tables)	6 Months Ended
	Jun. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Summary of Accumulated Other Comprehensive Loss and Net Income Related to Derivatives	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 during the three and six months ended June 30, 2023 and 2022 (in millions): Recognized in Net Income Three Months Ended June 30, Loss Recognized in Accumulated Classification of Loss Loss Reclassified from Accumulated Total Amount of the Line Item in the Condensed Consolidated Statements of Operations Containing Hedge Losses 2023 Foreign currency contracts (1) $ (5.0) Cost of goods sold $ (0.8) $ 2,817.0 Commodity contracts (2) (0.7) Cost of goods sold (0.4) $ 2,817.0 Total $ (5.7) $ (1.2) 2022 Foreign currency contracts $ (2.7) Cost of goods sold $ (1.9) $ 2,254.7 Commodity contracts (4.5) Cost of goods sold (2.1) $ 2,254.7 Total $ (7.2) $ (4.0) Recognized in Net Income Six Months Ended June 30, Gain (Loss) Recognized in Accumulated Classification of Gain (Loss) Loss Reclassified from Accumulated Total Amount of the Line Item in the Condensed Consolidated Statements of Operations Containing Hedge Losses 2023 Foreign currency contracts (1) $ (6.9) Cost of goods sold $ (2.6) $ 5,295.6 Commodity contracts (2) 0.2 Cost of goods sold (0.1) $ 5,295.6 Total $ (6.7) $ (2.7) 2022 Foreign currency contracts $ (6.5) Cost of goods sold (2.0) $ 4,309.1 Commodity contracts (3.1) Cost of goods sold (1.1) $ 4,309.1 Total $ (9.6) $ (3.1) ____________________________________ (1) The outstanding contracts as of June 30, 2023 range in maturity through December 2023. (2) The outstanding contracts as of June 30, 2023 range in maturity through October 2023. 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, 2023 (in millions): Before-Tax Amount Income Tax After-Tax Amount Accumulated derivative net losses as of March 31, 2023 $ (0.6) $ (0.2) $ (0.4) Net changes in fair value of derivatives (7.9) (2.2) (5.7) Net losses reclassified from accumulated other comprehensive loss into income 1.8 0.6 1.2 Accumulated derivative net losses as of June 30, 2023 $ (6.7) $ (1.8) $ (4.9) 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, 2023 (in millions): Before-Tax Amount Income Tax After-Tax Amount Accumulated derivative net losses as of December 31, 2022 $ (1.0) $ (0.1) $ (0.9) Net changes in fair value of derivatives (9.3) (2.6) (6.7) Net losses reclassified from accumulated other comprehensive loss into income 3.6 0.9 2.7 Accumulated derivative net losses as of June 30, 2023 $ (6.7) $ (1.8) $ (4.9)
Schedule of Derivative Instruments	The following table summarizes the notional values of the instruments designated as a net investment hedge (in millions): Notional Amount as of June 30, 2023 December 31, 2022 Cross currency swap contract $ 300.0 $ 300.0 Foreign currency denominated debt 163.7 — 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, 2023 and 2022 (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 After-Tax Amount Before-Tax Amount Income Tax After-Tax Amount June 30, 2023 $ (5.7) $ 1.5 $ (4.2) $ (6.7) $ 1.7 $ (5.0) June 30, 2022 16.6 (4.3) 12.3 20.8 (5.4) 15.4 The following table summarizes the changes in the fair value of foreign currency denominated debt designated as a net investment hedge during the three and six months ended June 30, 2023 and 2022 (in millions): Gain Recognized in Accumulated Other Comprehensive Loss for the Three Months Ended Gain Recognized in Accumulated Other Comprehensive Loss for the Six Months Ended Before-Tax Amount Income Tax After-Tax Amount Before-Tax Amount Income Tax After-Tax Amount June 30, 2023 $ 0.4 $ (0.3) $ 0.1 $ 1.3 $ (0.3) $ 1.0 June 30, 2022 — — — — — —
Schedule of Derivatives Not Designated as Hedging Instrument	The following table summarizes the impact that changes in the fair value of derivatives not designated as hedging instruments had on net income (in millions): Gain 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, 2023 June 30, 2022 June 30, 2023 June 30, 2022 Foreign currency contracts Other expense, net $ 37.9 $ 0.4 $ 49.1 $ (13.4)
Fair Value of Derivative Instruments	The table below sets forth the fair value of derivative instruments as of June 30, 2023 (in millions): Asset Derivatives as of Liability Derivatives as of Balance Sheet Location Fair Value Balance Sheet Location Fair Value Derivative instruments designated as hedging instruments: Foreign currency contracts Other current assets $ 2.9 Other current liabilities $ 8.3 Commodity contracts Other current assets — Other current liabilities 0.4 Cross currency swap contract Other noncurrent assets 26.3 Other noncurrent liabilities — Derivative instruments not designated as hedging instruments: Foreign currency contracts (1) Other current assets 10.4 Other current liabilities 14.9 Total derivative instruments $ 39.6 $ 23.6 __________________________________ (1) The outstanding contracts as of June 30, 2023 range in maturity through September 2023. The table below sets forth the fair value of derivative instruments as of December 31, 2022 (in millions): Asset Derivatives as of Liability Derivatives as of 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 $ 1.3 Commodity contracts Other current assets — Other current liabilities — Cross currency swap contract Other noncurrent assets 33.0 Other noncurrent liabilities — Derivative instruments not designated as hedging instruments: Foreign currency contracts (1) Other current assets 6.6 Other current liabilities 39.1 Total derivative instruments $ 40.9 $ 40.4 ___________________________________ (1) The outstanding contracts as of December 31, 2022 range in maturity through March 2023. As of June 30, 2023 Level 1 Level 2 Level 3 Total Derivative assets $ — $ 39.6 $ — $ 39.6 Derivative liabilities — 23.6 — 23.6 As of December 31, 2022 Level 1 Level 2 Level 3 Total Derivative assets $ — $ 40.9 $ — $ 40.9 Derivative liabilities — 40.4 — 40.4

Changes in Stockholders' Equi_2

Changes in Stockholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2023
Stockholders' Equity Note [Abstract]
Schedule of 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, 2023 and 2022 (in millions): Common Additional Retained Accumulated Other Noncontrolling Total Stockholders’ 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, net of reclassification adjustments: 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 Additional Retained Accumulated Other Noncontrolling Total Stockholders’ 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, net of reclassification adjustments: 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 Common Additional Retained Accumulated Other Noncontrolling Total Stockholders’ Balance, March 31, 2022 $ 0.7 $ 2.9 $ 5,306.2 $ (1,635.0) $ 0.1 $ 3,674.9 Stock compensation — 10.6 — — — 10.6 Issuance of stock awards — (0.2) — — — (0.2) Comprehensive income: Net income (loss) — — 177.7 — (0.1) 177.6 Other comprehensive loss, net of reclassification adjustments: Foreign currency translation adjustments — — — (124.6) 0.1 (124.5) Defined benefit pension plans, net of tax — — — 1.7 — 1.7 Deferred gains and losses on derivatives, net of tax — — — (3.2) — (3.2) Payment of dividends to stockholders — — (353.6) — — (353.6) Balance, June 30, 2022 $ 0.7 $ 13.3 $ 5,130.3 $ (1,761.1) $ 0.1 $ 3,383.3 Common Additional Retained Accumulated Other Noncontrolling Total Stockholders’ Balance, December 31, 2021 $ 0.7 $ 3.9 $ 5,182.2 $ (1,770.9) $ 27.9 $ 3,443.8 Stock compensation — 17.6 — — — 17.6 Issuance of stock awards — (7.2) (12.9) — — (20.1) SSARs exercised — (1.0) — — — (1.0) Comprehensive income: Net income (loss) — — 329.5 — (14.9) 314.6 Other comprehensive income, net of reclassification adjustments: Foreign currency translation adjustments — — — 12.9 0.9 13.8 Defined benefit pension plans, net of tax — — — 3.4 — 3.4 Deferred gains and losses on derivatives, net of tax — — — (6.5) — (6.5) Payment of dividends to stockholders — — (368.5) — — (368.5) Distributions to noncontrolling interest — — — — (13.8) (13.8) Balance, June 30, 2022 $ 0.7 $ 13.3 $ 5,130.3 $ (1,761.1) $ 0.1 $ 3,383.3
Schedule of Comprehensive Income (Loss) Attributable to Noncontrolling Interests	Total comprehensive income (loss) attributable to noncontrolling interests for the three and six months ended June 30, 2023 and 2022 was as follows (in millions): Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Net income (loss) $ — $ (0.1) $ — $ (14.9) Other comprehensive income: Foreign currency translation adjustments — 0.1 — 0.9 Total comprehensive income (loss) $ — $ — $ — $ (14.0)
Summary of Accumulated Other Comprehensive (Loss) 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 six months ended June 30, 2023 (in millions): Defined Benefit Pension Plans Deferred Net (Losses) Gains on Derivatives Cumulative Translation Adjustment Total Accumulated other comprehensive loss, December 31, 2022 $ (231.2) $ (0.9) $ (1,571.0) $ (1,803.1) Other comprehensive (loss) income before reclassifications — (6.7) 118.6 111.9 Net losses reclassified from accumulated other comprehensive loss 3.7 2.7 — 6.4 Other comprehensive income (loss), net of reclassification adjustments 3.7 (4.0) 118.6 118.3 Accumulated other comprehensive loss, June 30, 2023 $ (227.5) $ (4.9) $ (1,452.4) $ (1,684.8) Before-Tax Amount Income Tax After-Tax Amount Accumulated other comprehensive loss, December 31, 2022 $ (304.4) $ (73.2) $ (231.2) Amortization of prior service cost 0.8 0.2 0.6 Amortization of net actuarial losses 4.2 1.1 3.1 Accumulated other comprehensive loss as of June 30, 2023 $ (299.4) $ (71.9) $ (227.5)
Reclassification Out of Accumulated Other Comprehensive Loss	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, 2023 and 2022 (in millions): Amount Reclassified from Accumulated Other Comprehensive Loss Affected Line Item within the Condensed Consolidated Details about Accumulated Other Comprehensive Loss Components Three Months Ended June 30, 2023 (1) Three Months Ended June 30, 2022 (1) Derivatives: Net losses on foreign currency contracts $ 1.3 $ 2.6 Cost of goods sold Net losses on commodity contracts 0.5 2.8 Cost of goods sold Reclassification before tax 1.8 5.4 (0.6) (1.4) Income tax provision Reclassification net of tax $ 1.2 $ 4.0 Defined benefit pension plans: Amortization of net actuarial losses $ 2.2 $ 2.2 Other expense, net (2) Amortization of prior service cost 0.4 — Other expense, net (2) Reclassification before tax 2.6 2.2 (0.7) (0.5) Income tax provision Reclassification net of tax $ 1.9 $ 1.7 Net losses reclassified from accumulated other comprehensive loss $ 3.1 $ 5.7 __________________________________ (1) Losses included within the Condensed Consolidated Statements of Operations for the three months ended June 30, 2023 and 2022, respectively. (2) These accumulated other comprehensive loss components are included in the computation of net periodic pension and postretirement benefit cost. See Note 16 for additional information on the Company’s defined benefit pension plans. Amount Reclassified from Accumulated Other Comprehensive Loss Affected Line Item within the Condensed Consolidated Details about Accumulated Other Comprehensive Loss Components Six Months Ended June 30, 2023 (1) Six Months Ended June 30, 2022 (1) Derivatives: Net losses on foreign currency contracts $ 3.5 $ 2.7 Cost of goods sold Net losses on commodity contracts 0.1 1.5 Cost of goods sold Reclassification before tax 3.6 4.2 (0.9) (1.1) Income tax provision Reclassification net of tax $ 2.7 $ 3.1 Defined benefit pension plans: Amortization of net actuarial losses $ 4.2 $ 4.4 Other expense, net (2) Amortization of prior service cost 0.8 0.2 Other expense, net (2) Reclassification before tax 5.0 4.6 (1.3) (1.2) Income tax provision Reclassification net of tax $ 3.7 $ 3.4 Net losses reclassified from accumulated other comprehensive loss $ 6.4 $ 6.5 __________________________________ (1) Losses included within the Condensed Consolidated Statements of Operations for the six months ended June 30, 2023 and 2022, respectively. (2) These accumulated other comprehensive loss components are included in the computation of net periodic pension and postretirement benefit cost. See Note 16 for additional information on the Company’s defined benefit pension plans.

Pension and Postretirement Be_2

Pension and Postretirement Benefit Plans (Tables)	6 Months Ended
	Jun. 30, 2023
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, 2023 and 2022 are set forth below (in millions): Three Months Ended June 30, Six Months Ended June 30, Pension benefits 2023 2022 2023 2022 Service cost $ 2.4 $ 3.3 $ 4.8 $ 6.6 Interest cost 7.3 3.8 14.5 7.8 Expected return on plan assets (7.4) (4.4) (14.6) (9.0) Amortization of net actuarial losses 2.2 2.2 4.2 4.4 Amortization of prior service cost 0.4 — 0.7 0.1 Net periodic pension cost $ 4.9 $ 4.9 $ 9.6 $ 9.9 Three Months Ended June 30, Six Months Ended June 30, Postretirement benefits 2023 2022 2023 2022 Service cost $ — $ — $ — $ 0.1 Interest cost 0.3 0.3 0.6 0.5 Amortization of prior service cost — — 0.1 0.1 Net periodic postretirement benefit cost $ 0.3 $ 0.3 $ 0.7 $ 0.7
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 six months ended June 30, 2023 (in millions): Defined Benefit Pension Plans Deferred Net (Losses) Gains on Derivatives Cumulative Translation Adjustment Total Accumulated other comprehensive loss, December 31, 2022 $ (231.2) $ (0.9) $ (1,571.0) $ (1,803.1) Other comprehensive (loss) income before reclassifications — (6.7) 118.6 111.9 Net losses reclassified from accumulated other comprehensive loss 3.7 2.7 — 6.4 Other comprehensive income (loss), net of reclassification adjustments 3.7 (4.0) 118.6 118.3 Accumulated other comprehensive loss, June 30, 2023 $ (227.5) $ (4.9) $ (1,452.4) $ (1,684.8) Before-Tax Amount Income Tax After-Tax Amount Accumulated other comprehensive loss, December 31, 2022 $ (304.4) $ (73.2) $ (231.2) Amortization of prior service cost 0.8 0.2 0.6 Amortization of net actuarial losses 4.2 1.1 3.1 Accumulated other comprehensive loss as of June 30, 2023 $ (299.4) $ (71.9) $ (227.5)

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Assets and Liabilities Measured at Fair Value on a Recurring Basis	The table below sets forth the fair value of derivative instruments as of June 30, 2023 (in millions): Asset Derivatives as of Liability Derivatives as of Balance Sheet Location Fair Value Balance Sheet Location Fair Value Derivative instruments designated as hedging instruments: Foreign currency contracts Other current assets $ 2.9 Other current liabilities $ 8.3 Commodity contracts Other current assets — Other current liabilities 0.4 Cross currency swap contract Other noncurrent assets 26.3 Other noncurrent liabilities — Derivative instruments not designated as hedging instruments: Foreign currency contracts (1) Other current assets 10.4 Other current liabilities 14.9 Total derivative instruments $ 39.6 $ 23.6 __________________________________ (1) The outstanding contracts as of June 30, 2023 range in maturity through September 2023. The table below sets forth the fair value of derivative instruments as of December 31, 2022 (in millions): Asset Derivatives as of Liability Derivatives as of 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 $ 1.3 Commodity contracts Other current assets — Other current liabilities — Cross currency swap contract Other noncurrent assets 33.0 Other noncurrent liabilities — Derivative instruments not designated as hedging instruments: Foreign currency contracts (1) Other current assets 6.6 Other current liabilities 39.1 Total derivative instruments $ 40.9 $ 40.4 ___________________________________ (1) The outstanding contracts as of December 31, 2022 range in maturity through March 2023. As of June 30, 2023 Level 1 Level 2 Level 3 Total Derivative assets $ — $ 39.6 $ — $ 39.6 Derivative liabilities — 23.6 — 23.6 As of December 31, 2022 Level 1 Level 2 Level 3 Total Derivative assets $ — $ 40.9 $ — $ 40.9 Derivative liabilities — 40.4 — 40.4

Segment Reporting (Tables)

Segment Reporting (Tables)	6 Months Ended
	Jun. 30, 2023
Segment Reporting [Abstract]
Sales Information By Reportable Segments	Segment results for the three and six months ended June 30, 2023 and 2022 and assets as of June 30, 2023 and December 31, 2022 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 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 2022 Net sales $ 739.9 $ 519.2 $ 1,467.6 $ 218.5 $ 2,945.2 Income from operations 50.7 85.5 161.2 30.7 328.1 Depreciation 15.0 7.6 25.3 3.9 51.8 Capital expenditures 15.2 11.2 42.5 4.0 72.9 Six Months Ended June 30, North America South America Europe/Middle East Asia/Pacific/Africa Total Segments 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 2022 Net sales $ 1,440.9 $ 875.6 $ 2,870.7 $ 443.7 $ 5,630.9 Income from operations 105.5 131.6 323.5 64.7 625.3 Depreciation 30.2 14.6 53.5 8.2 106.5 Capital expenditures 30.9 21.2 81.7 5.4 139.2 Assets As of June 30, 2023 $ 1,990.5 $ 1,577.4 $ 3,039.6 $ 847.1 $ 7,454.6 As of December 31, 2022 1,790.3 1,259.8 2,475.6 650.5 6,176.2
Reconciliation of Income from Operations from Segment to Consolidated	A reconciliation from the segment information to the consolidated balances for income from operations and total assets is set forth below (in millions): Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Segment income from operations $ 574.4 $ 328.1 $ 1,033.5 $ 625.3 Impairment charges — — — (36.0) Corporate expenses (45.0) (38.5) (87.1) (70.7) Amortization of intangibles (14.1) (15.4) (28.9) (30.7) Stock compensation expense (12.8) (10.3) (26.3) (17.0) Restructuring expenses (6.1) (0.4) (7.5) (3.4) Consolidated income from operations $ 496.4 $ 263.5 $ 883.7 $ 467.5
Reconciliation of Assets from Segment to Consolidated	June 30, 2023 December 31, 2022 Segment assets $ 7,454.6 $ 6,176.2 Cash, cash equivalents and restricted cash 463.5 789.5 Investments in affiliates 507.2 436.9 Deferred tax assets, other current and noncurrent assets 1,300.7 1,025.9 Intangible assets, net 341.0 364.4 Goodwill 1,327.0 1,310.8 Consolidated total assets $ 11,394.0 $ 10,103.7

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 30, 2023
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 as of June 30, 2023 and December 31, 2022 were as follows (in millions): June 30, 2023 December 31, 2022 Operating Leases (1) Finance Leases Operating Leases (1) Finance Leases 2023 $ 26.7 $ 0.4 $ 47.8 $ 0.8 2024 44.2 0.6 36.6 0.6 2025 34.3 0.5 27.0 0.4 2026 24.9 0.3 19.1 0.2 2027 15.7 0.3 13.4 0.2 Thereafter 58.2 6.2 51.2 6.0 Total lease payments 204.0 8.3 195.1 8.2 Less: imputed interest (2) (29.4) (2.1) (27.5) (2.1) Present value of leased liabilities $ 174.6 $ 6.2 $ 167.6 $ 6.1 __________________________________ (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	Lease payment amounts for operating and finance leases with remaining terms greater than one year as of June 30, 2023 and December 31, 2022 were as follows (in millions): June 30, 2023 December 31, 2022 Operating Leases (1) Finance Leases Operating Leases (1) Finance Leases 2023 $ 26.7 $ 0.4 $ 47.8 $ 0.8 2024 44.2 0.6 36.6 0.6 2025 34.3 0.5 27.0 0.4 2026 24.9 0.3 19.1 0.2 2027 15.7 0.3 13.4 0.2 Thereafter 58.2 6.2 51.2 6.0 Total lease payments 204.0 8.3 195.1 8.2 Less: imputed interest (2) (29.4) (2.1) (27.5) (2.1) Present value of leased liabilities $ 174.6 $ 6.2 $ 167.6 $ 6.1 __________________________________ (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.

Revenue (Tables)

Revenue (Tables)	6 Months Ended
	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Contract with Customer, Asset and Liability	Significant changes in the balance of contract liabilities for the three and six months ended June 30, 2023 and 2022 were as follows (in millions): Three Months Ended June 30, 2023 2022 Balance at beginning of period $ 259.6 $ 232.4 Advance consideration received 58.0 31.5 Revenue recognized during the period for extended warranty contracts, maintenance services and technology services (26.8) (20.4) Revenue recognized during the period related to grain storage and protein production systems (17.9) (13.9) Foreign currency translation 1.7 (11.9) Balance at June 30 $ 274.6 $ 217.7 Six Months Ended June 30, 2023 2022 Balance at beginning of period $ 239.0 $ 226.2 Advance consideration received 116.5 74.5 Revenue recognized during the period for extended warranty contracts, maintenance services and technology services (51.7) (39.0) Revenue recognized during the period related to grain storage and protein production systems (33.9) (28.5) Foreign currency translation 4.7 (15.5) Balance at June 30 $ 274.6 $ 217.7
Disaggregation of Revenue	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 three months ended June 30, 2022 disaggregated by primary geographical markets and major products consisted of the following (in millions): North America South America Europe/Middle East (1) Asia/Pacific/Africa Consolidated (1) Primary geographical markets: United States $ 583.4 $ — $ — $ — $ 583.4 Canada 125.8 — — — 125.8 Brazil — 423.5 — — 423.5 Other South America — 92.0 — — 92.0 Germany — — 288.1 — 288.1 France — — 257.6 — 257.6 United Kingdom and Ireland — — 157.8 — 157.8 Finland and Scandinavia — — 196.1 — 196.1 Italy — — 103.7 — 103.7 Other Europe — — 417.6 — 417.6 Middle East and Algeria — — 46.6 — 46.6 Africa — — — 34.5 34.5 Asia — — — 97.3 97.3 Australia and New Zealand — — — 86.7 86.7 Mexico, Central America and Caribbean 30.7 3.7 — — 34.4 $ 739.9 $ 519.2 $ 1,467.6 $ 218.5 $ 2,945.2 Major products: Tractors $ 263.4 $ 291.3 $ 976.5 $ 112.4 $ 1,643.6 Replacement parts 119.5 36.6 270.8 23.1 450.0 Grain storage and protein production systems 155.5 41.6 45.7 43.6 286.4 Combines, application equipment and other machinery 201.5 149.7 174.5 39.4 565.1 $ 739.9 $ 519.2 $ 1,467.6 $ 218.5 $ 2,945.2 ____________________________________ (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 Net sales for the six months ended June 30, 2022 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 Consolidated Primary geographical markets: United States $ 1,153.7 $ — $ — $ — $ 1,153.7 Canada 226.9 — — — 226.9 Brazil — 697.1 — — 697.1 Other South America — 171.3 — — 171.3 Germany — — 605.3 — 605.3 France — — 529.2 — 529.2 United Kingdom and Ireland — — 303.2 — 303.2 Finland and Scandinavia — — 393.1 — 393.1 Italy — — 175.2 — 175.2 Other Europe — — 784.7 — 784.7 Middle East and Algeria — — 80.0 — 80.0 Africa — — — 70.5 70.5 Asia — — — 201.9 201.9 Australia and New Zealand — — — 171.3 171.3 Mexico, Central America and Caribbean 60.3 7.2 — — 67.5 $ 1,440.9 $ 875.6 $ 2,870.7 $ 443.7 $ 5,630.9 Major products: Tractors $ 515.3 $ 497.9 $ 1,891.6 $ 237.8 $ 3,142.6 Replacement parts 214.1 74.8 556.8 49.8 895.5 Grain storage and protein production systems 286.7 81.6 77.0 81.1 526.4 Combines, application equipment and other machinery 424.9 221.3 345.2 75.0 1,066.4 $ 1,440.9 $ 875.6 $ 2,870.7 $ 443.7 $ 5,630.9 ____________________________________ (1) Rounding may impact the summation of amounts.

Basis of Presentation (Details)

Basis of Presentation (Details) $ in Millions, ₺ in Billions, $ in Billions	3 Months Ended		6 Months Ended
	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2023 TRY (₺)	Jun. 30, 2023 ARS ($)	Mar. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Mar. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Basis Of Presentation [Line Items]
Net sales	$ 3,822.7	$ 2,945.2	$ 7,156.2	$ 5,630.9
Assets	11,394		11,394					$ 10,103.7
Cash and cash equivalents	463.5		463.5					789.5
Guarantor obligation maximum exposure	187		187
Cumulative effect to stockholders' equity	(4,139)	(3,383.3)	(4,139)	(3,383.3)			$ (4,132.9)	(3,882.6)	$ (3,674.9)	$ (3,443.8)
Retained Earnings
Basis Of Presentation [Line Items]
Cumulative effect to stockholders' equity	(5,786.8)	$ (5,130.3)	(5,786.8)	$ (5,130.3)			$ (5,863.7)	(5,654.6)	$ (5,306.2)	$ (5,182.2)
Cumulative Effect, Period of Adoption, Adjustment
Basis Of Presentation [Line Items]
Cumulative effect to stockholders' equity								5.5
Cumulative Effect, Period of Adoption, Adjustment | Retained Earnings
Basis Of Presentation [Line Items]
Cumulative effect to stockholders' equity								$ 5.5
AGCO Capital Argentina S.A
Basis Of Presentation [Line Items]
Guarantor obligation maximum exposure	10		10
Turkey | Subsidiaries
Basis Of Presentation [Line Items]
Net sales			221.7
Assets	141.4		141.4		₺ 3.7
Turkey | Turkish lira | Subsidiaries
Basis Of Presentation [Line Items]
Assets, reporting currency denominated value	117		117		3
Liabilities, reporting currency denominated value	98.5		98.5		₺ 2.6
Argentia | Finance Joint Ventures
Basis Of Presentation [Line Items]
Net monetary assets	6.2		6.2			$ 24
Argentia | Subsidiaries
Basis Of Presentation [Line Items]
Net sales			93.6
Assets	173.2		173.2			44.4
Argentia | Pesos
Basis Of Presentation [Line Items]
Assets, reporting currency denominated value	58		58			14.9
Liabilities, reporting currency denominated value	28.4		28.4			6.7
Cash and cash equivalents	$ 29.2		$ 29.2			$ 7.5

Acquisitions (Narrative) (Detai

Acquisitions (Narrative) (Details) $ in Millions, $ in Millions				6 Months Ended
	May 02, 2022 USD ($)	May 02, 2022 CAD ($)	Jan. 01, 2022 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Dec. 31, 2022 USD ($)	May 02, 2022 CAD ($)
Business Acquisition [Line Items]
Goodwill				$ 1,327		$ 1,310.8
Payments to acquire businesses, net of cash acquired				$ 0.9	$ 111.3
Appareo
Business Acquisition [Line Items]
Ownership percentage			50%
Fair value of equity method investment			$ 11.2
JCA
Business Acquisition [Line Items]
Payments to acquire business	$ 49.2	$ 63
Goodwill	$ 34						$ 43.9
Appareo
Business Acquisition [Line Items]
Goodwill			25.8
Payments to acquire businesses, net of cash acquired			62.1
Cash acquired			$ 0.5
Acquisition of remaining interest			50%
Gain related to acquisition of remaining interest			$ 3.4

Acquisitions (Finite-Live Intan

Acquisitions (Finite-Live Intangible Assets Acquired) (Details) - JCA and Appareo $ in Millions	Dec. 31, 2022 USD ($)
Business Acquisition [Line Items]
Amount	$ 37.9
Customer relationships
Business Acquisition [Line Items]
Amount	$ 15.4
Weighted-Average Useful Life	10 years
Technology
Business Acquisition [Line Items]
Amount	$ 15.4
Weighted-Average Useful Life	8 years
Trademarks
Business Acquisition [Line Items]
Amount	$ 5.7
Weighted-Average Useful Life	10 years
Non-competition agreements
Business Acquisition [Line Items]
Amount	$ 1.4
Weighted-Average Useful Life	5 years

Restructuring Expenses and Im_3

Restructuring Expenses and Impairment Charges (Restructuring Expense Activity) (Details) - USD ($) $ in Millions	3 Months Ended			6 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning of period	$ 7.2	$ 6.8		$ 6.8
Quarterly provision	6.1	1.4	$ 0.4	7.5	$ 3.4
Quarterly cash activity	(1.7)	(1)
Foreign currency translation	(0.4)	0
Restructuring reserve, end of period	11.2	7.2		11.2
Employee Severance
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning of period	7.2	6.8		6.8
Quarterly provision	4.1	1.4
Quarterly cash activity	(1.7)	(1)
Foreign currency translation	(0.4)	0
Restructuring reserve, end of period	9.2	7.2		9.2
Other Related Closure Costs
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning of period	0	0		0
Quarterly provision	2	0
Quarterly cash activity	0	0
Foreign currency translation	0	0
Restructuring reserve, end of period	$ 2	$ 0		$ 2

Restructuring Expenses and Im_4

Restructuring Expenses and Impairment Charges (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended			6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2023	Jun. 30, 2022
Restructuring Cost and Reserve [Line Items]
Impairment charges				$ 0	$ 36
Benefit recorded in Net loss (income) attributable to noncontrolling interests	$ 0	$ 0.1		0	14.9
Investment write-down included in Equity in net earnings of affiliates	$ (17.6)	$ (13.2)		$ (34)	$ (24.3)
Russian Finance Joint Venture
Restructuring Cost and Reserve [Line Items]
Investment write-down included in Equity in net earnings of affiliates			$ 4.8
Russian Finance Joint Venture | Entity under Time-Limited General License
Restructuring Cost and Reserve [Line Items]
Impairment charges			36
Benefit recorded in Net loss (income) attributable to noncontrolling interests			$ 12.2

Stock Compensation Plans (Sched

Stock Compensation Plans (Schedule of Stock Compensation Expense) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock compensation expense	$ 13.3	$ 10.6	$ 27.3	$ 17.6
Cost of goods sold
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock compensation expense	0.5	0.3	1	0.6
Selling, general and administrative expenses
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock compensation expense	$ 12.8	$ 10.3	$ 26.3	$ 17

Stock Compensation Plans (Narra

Stock Compensation Plans (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions		3 Months Ended		6 Months Ended
	Apr. 27, 2023	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, shares authorized (in shares)		150,000,000		150,000,000		150,000,000
Total stock compensation expense		$ 13.3	$ 10.6	$ 27.3	$ 17.6
Performance Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards outstanding (in shares)		806,222		806,222
Weighted-average grant price for awards outstanding (in dollars per share)		$ 128.93		$ 128.93
Share-based compensation cost not yet recognized		$ 56.3		$ 56.3
Share-based compensation cost not yet recognized, period for recognition				2 years
Restricted Stock Unit Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards outstanding (in shares)		211,269		211,269
Weighted-average grant price for awards outstanding (in dollars per share)		$ 121.57		$ 121.57
Share-based compensation cost not yet recognized		$ 20.4		$ 20.4
Share-based compensation cost not yet recognized, period for recognition				1 year 6 months
Shares awarded after shares with held for taxes (in shares)				16,191
Shares withheld for Taxes (in shares)				11,277
Share adjustment percentage based on a total margin improvement metric relative the defined peer group				25%
Stock-Settled Appreciation Rights
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation cost not yet recognized		$ 0.1		$ 0.1
Share-based compensation cost not yet recognized, period for recognition				6 months
Outstanding awards (in shares)		98,259		98,259
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares awarded after shares with held for taxes (in shares)	10,524
Shares awarded (in shares)	12,069
Total stock compensation expense				$ 1.5
2006 Long Term Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, shares authorized (in shares)		10,000,000		10,000,000
Shares available for grant (in shares)		3,591,131		3,591,131
Long-Term Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Target award percentage				100%
Long-Term Incentive Plan | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of target award				200%

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets (Schedule of Goodwill) (Details) $ in Millions	6 Months Ended
	Jun. 30, 2023 USD ($)
Goodwill [Roll Forward]
Goodwill at beginning of period	$ 1,310.8
Foreign currency translation	16.2
Goodwill at end of period	1,327
North America
Goodwill [Roll Forward]
Goodwill at beginning of period	667.3
Foreign currency translation	0.9
Goodwill at end of period	668.2
Other South America
Goodwill [Roll Forward]
Goodwill at beginning of period	86
Foreign currency translation	8.2
Goodwill at end of period	94.2
Europe/Middle East
Goodwill [Roll Forward]
Goodwill at beginning of period	444.3
Foreign currency translation	8.8
Goodwill at end of period	453.1
Asia/Pacific/Africa
Goodwill [Roll Forward]
Goodwill at beginning of period	113.2
Foreign currency translation	(1.7)
Goodwill at end of period	$ 111.5

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets (Schedule of Change in Carrying Amount of Intangible Assets) (Details) $ in Millions	6 Months Ended
	Jun. 30, 2023 USD ($)
Gross carrying amounts:
Balance at beginning of period	$ 923.4
Foreign currency translation	7.5
Balance at end of period	930.9
Accumulated amortization:
Balance at beginning of period	647.2
Amortization expense	28.9
Foreign currency translation	5.8
Balance at end of period	681.9
Trademarks and Tradenames
Gross carrying amounts:
Balance at beginning of period	191.8
Foreign currency translation	1.7
Balance at end of period	193.5
Accumulated amortization:
Balance at beginning of period	103.3
Amortization expense	5
Foreign currency translation	0.8
Balance at end of period	109.1
Customer Relationships
Gross carrying amounts:
Balance at beginning of period	574.5
Foreign currency translation	4.3
Balance at end of period	578.8
Accumulated amortization:
Balance at beginning of period	440.8
Amortization expense	18.4
Foreign currency translation	4.1
Balance at end of period	463.3
Patents and Technology
Gross carrying amounts:
Balance at beginning of period	150.6
Foreign currency translation	1.8
Balance at end of period	152.4
Accumulated amortization:
Balance at beginning of period	101.5
Amortization expense	5.4
Foreign currency translation	1.1
Balance at end of period	108
Land Use Rights
Gross carrying amounts:
Balance at beginning of period	6.5
Foreign currency translation	(0.3)
Balance at end of period	6.2
Accumulated amortization:
Balance at beginning of period	1.6
Amortization expense	0.1
Foreign currency translation	(0.2)
Balance at end of period	$ 1.5

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets (Indefinite-Lived Intangible Assets) (Details) - Trademarks and Tradenames $ in Millions	6 Months Ended
	Jun. 30, 2023 USD ($)
Indefinite-lived intangible assets:
Balance at beginning of period	$ 84.8
Foreign currency translation	0.6
Balance at end of period	$ 85.4

Goodwill and Other Intangible_6

Goodwill and Other Intangible Assets (Narrative) (Details) $ in Millions	6 Months Ended
	Jun. 30, 2023 USD ($)
Finite-Lived Intangible Assets [Line Items]
External-use software, net	$ 6.6
Amortization costs of external-use software	$ 1.1
Minimum
Finite-Lived Intangible Assets [Line Items]
Estimated useful life	4 years
Maximum
Finite-Lived Intangible Assets [Line Items]
Estimated useful life	50 years

Indebtedness (Components of Ind

Indebtedness (Components of Indebtedness) (Details) € in Millions, $ in Millions	Jun. 30, 2023 USD ($)	Jun. 30, 2023 EUR (€)	Dec. 31, 2022 USD ($)	Oct. 06, 2021	Jan. 25, 2019 EUR (€)
Debt Instrument [Line Items]
Other long-term debt	$ 4.1		$ 5.1
Debt issuance costs	(3.4)		(3.6)
Total long-term debt	2,205.3		1,451.9
Current portion of long-term debt	(191.1)		(187.1)
Total long-term indebtedness, less current portion	2,014.2		1,264.8
Credit facility, expires 2027
Debt Instrument [Line Items]
Credit facility	927.9		200
1.002% Senior term loan due 2025
Debt Instrument [Line Items]
Debt instrument, interest rate, percent					1.002%
1.002% Senior term loan due 2025
Debt Instrument [Line Items]
Senior notes	272.9		267.3		€ 250
Senior term loans due between 2023 and 2028
Debt Instrument [Line Items]
Senior notes	348.8		341.6
Current portion of long-term debt	(188.8)	€ (173)
0.800% Senior Notes Due 2028
Debt Instrument [Line Items]
Debt instrument, interest rate, percent				0.80%
Senior notes	655	€ 600	641.5
Senior term loans due 2023
Debt Instrument [Line Items]
Current portion of long-term debt	(188.8)		(184.9)
Other long term debt
Debt Instrument [Line Items]
Current portion of long-term debt	$ (2.3)		$ (2.2)

Indebtedness (Narrative) (Detai

Indebtedness (Narrative) (Details)

1 Months Ended

6 Months Ended

7 Months Ended

31 Months Ended

Aug. 01, 2023 USD ($)

Aug. 01, 2023 EUR (€)

Oct. 06, 2021 EUR (€)

Dec. 31, 2022 USD ($)

Jun. 30, 2023 USD ($) loan_agreement

Jun. 30, 2022 USD ($)

Feb. 28, 2022 EUR (€)

Apr. 30, 2022 EUR (€)

Jun. 30, 2023 EUR (€) loan_agreement

Jun. 30, 2022 EUR (€)

Jan. 25, 2019 EUR (€)

Oct. 31, 2018 USD ($)

Aug. 31, 2018 EUR (€) loan_agreement

Oct. 31, 2016 EUR (€) loan_agreement

Debt Instrument [Line Items]

Repayments of debt

$ 11,400,000

$ 119,800,000

Debt instrument, face amount, issue price percentage

99.993%

Number of loan agreements entered | loan_agreement

7

7

Current portion of long-term debt

$ 187,100,000

191,100,000

Short-term borrowings

8,900,000

56,000,000

Outstanding letters of credit

$ 14,400,000

14,700,000

Revolving Credit Facility | Uncommitted Revolving Credit Facility

Debt Instrument [Line Items]

Maximum borrowing capacity on line of credit facility

109,200,000

€ 100,000,000

Credit facility amount outstanding

$ 0

Line of Credit | Minimum

Debt Instrument [Line Items]

Margin on variable rate

1.20%

Line of Credit | Minimum | Euro Interbank Offered Rate (EURIBOR)

Debt Instrument [Line Items]

Margin on variable rate

1.10%

Line of Credit | Maximum

Debt Instrument [Line Items]

Margin on variable rate

2.26%

Line of Credit | Multi-Currency Revolving Credit Facility | Minimum | Euro Interbank Offered Rate (EURIBOR)

Debt Instrument [Line Items]

Margin on variable rate

0.875%

Line of Credit | Multi-Currency Revolving Credit Facility | Maximum | Euro Interbank Offered Rate (EURIBOR)

Debt Instrument [Line Items]

Margin on variable rate

1.875%

Line of Credit | Multi-Currency Revolving Credit Facility | Interest Accrual, Option One | Secured Overnight Financing Rate (SOFR)

Debt Instrument [Line Items]

Margin on variable rate

0.10%

Line of Credit | Multi-Currency Revolving Credit Facility | Interest Accrual, Option One | Minimum | Secured Overnight Financing Rate (SOFR)

Debt Instrument [Line Items]

Margin on variable rate

0.875%

Line of Credit | Multi-Currency Revolving Credit Facility | Interest Accrual, Option One | Maximum | Secured Overnight Financing Rate (SOFR)

Debt Instrument [Line Items]

Margin on variable rate

1.875%

Line of Credit | Multi-Currency Revolving Credit Facility | Interest Accrual, Option Two | Secured Overnight Financing Rate (SOFR)

Debt Instrument [Line Items]

Margin on variable rate

1%

Line of Credit | Multi-Currency Revolving Credit Facility | Interest Accrual, Option Two | Fed Funds Effective Rate

Debt Instrument [Line Items]

Margin on variable rate

0.50%

Line of Credit | Multi-Currency Revolving Credit Facility | Interest Accrual, Option Two | Minimum | Secured Overnight Financing Rate (SOFR)

Debt Instrument [Line Items]

Margin on variable rate

0%

Line of Credit | Multi-Currency Revolving Credit Facility | Interest Accrual, Option Two | Maximum | Secured Overnight Financing Rate (SOFR)

Debt Instrument [Line Items]

Margin on variable rate

0.875%

Line of Credit | Revolving Credit Facility

Debt Instrument [Line Items]

Maximum borrowing capacity on line of credit facility

$ 800,000,000

Additional borrowing capacity

$ 450,000,000

Line of Credit | Revolving Credit Facility | 1.25 Billion Multi-Currency Unsecured Credit Facility

Debt Instrument [Line Items]

Maximum borrowing capacity on line of credit facility

1,250,000,000

Remaining borrowing capacity on line of credit facility

$ 322,100,000

Line of Credit | Revolving Credit Facility | 1.25 Billion Multi-Currency Unsecured Credit Facility, US Dollar Tranche

Debt Instrument [Line Items]

Maximum borrowing capacity on line of credit facility

325,000,000

Line of Credit | Revolving Credit Facility | 1.25 Billion Multi-Currency Unsecured Credit Facility, Multi-Currency Tranche

Debt Instrument [Line Items]

Maximum borrowing capacity on line of credit facility

925,000,000

Line of Credit | Revolving Credit Facility | Bilateral Revolving Credit Facility

Debt Instrument [Line Items]

Repayments of debt

240,000,000

Term Loan Facility

Debt Instrument [Line Items]

Credit facility amount outstanding

927,900,000

Term Loan Facility | Senior term loans due between 2023 and 2028

Debt Instrument [Line Items]

Senior notes

$ 348,800,000

€ 319,500,000

Number of agreements remaining | loan_agreement

6

6

0.800% Senior Notes Due 2028

Debt Instrument [Line Items]

Debt instrument, interest rate, percent

0.80%

Debt instrument, face amount | €

€ 600,000,000

Senior notes

641,500,000

$ 655,000,000

€ 600,000,000

1.002% Senior term loan due 2025

Debt Instrument [Line Items]

Debt instrument, interest rate, percent

1.002%

1.002% Senior term loan due 2025

Debt Instrument [Line Items]

Senior notes

267,300,000

272,900,000

€ 250,000,000

Senior term loans due between 2023 and 2028

Debt Instrument [Line Items]

Repayments of debt | €

€ 144,500,000

€ 249,000,000

Debt instrument, face amount | €

€ 338,000,000

€ 375,000,000

Senior notes

$ 341,600,000

348,800,000

Current portion of long-term debt

$ 188,800,000

€ 173,000,000

Senior term loans due between 2023 and 2028 | Subsequent Event

Debt Instrument [Line Items]

Repayments of debt

$ 109,200,000

€ 99,500,000

Recoverable Indirect Taxes (Det

Recoverable Indirect Taxes (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Recoverable Indirect Taxes [Abstract]
Value added tax credit	$ 109.3	$ 94.6

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Inventory Disclosure [Abstract]
Finished goods	$ 1,458	$ 994.9
Repair and replacement parts	823	750.1
Work in process	448.8	369.8
Raw materials	1,100.1	1,074.9
Inventories, net	$ 3,829.9	$ 3,189.7

Product Warranty (Warranty Rese

Product Warranty (Warranty Reserve Activity) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Warranty reserve activity:
Balance at beginning of period	$ 677	$ 614.5	$ 640	$ 592.5
Accruals for warranties issued during the period	107.8	61.9	197.5	145.2
Settlements made (in cash or in kind) during the period	(63.4)	(50)	(127.9)	(107.7)
Foreign currency translation	5.8	(36.9)	17.6	(40.5)
Balance at end of period	$ 727.2	$ 589.5	$ 727.2	$ 589.5

Product Warranty (Narrative) (D

Product Warranty (Narrative) (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Dec. 31, 2022	Jun. 30, 2022
Guarantees and Product Warranties [Abstract]
Product warranty period, minimum, years	1 year
Product warranty period, maximum, years	4 years
Product warranty accrual, current	$ 613.6	$ 546	$ 499.8
Product warranty accrual, noncurrent	$ 113.6	$ 94	$ 89.7

Supplier Finance Programs (Deta

Supplier Finance Programs (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Supplier Finance Program [Line Items]
Amount outstanding reflected in Accounts Payable	$ 93.8	$ 121.5
Minimum
Supplier Finance Program [Line Items]
Payment terms period	30 days
Maximum
Supplier Finance Program [Line Items]
Payment terms period	180 days

Net Income Per Common Share (De

Net Income Per Common Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Basic net income per share:
Net income attributable to AGCO Corporation and subsidiaries	$ 319.2	$ 177.7	$ 551.8	$ 329.5
Weighted average number of common shares outstanding (in shares)	74.9	74.6	74.9	74.6
Basic net income per share attributable to AGCO Corporation and subsidiaries (in dollars per share)	$ 4.26	$ 2.38	$ 7.37	$ 4.41
Diluted net income per share:
Net income attributable to AGCO Corporation and subsidiaries	$ 319.2	$ 177.7	$ 551.8	$ 329.5
Weighted average number of common shares outstanding (in shares)	74.9	74.6	74.9	74.6
Dilutive SSARs, performance share awards and RSUs (in shares)	0.1	0.3	0.1	0.3
Weighted average number of common shares and common share equivalents outstanding for purposes of computing diluted net income per share (in shares)	75	74.9	75	74.9
Diluted net income per share attributable to AGCO Corporation and subsidiaries (in dollars per share)	$ 4.26	$ 2.37	$ 7.36	$ 4.40

Net Income Per Common Share (Na

Net Income Per Common Share (Narrative) (Details) - shares shares in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Stock-Settled Appreciation Rights
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
SSARs excluded from earnings per share computation (in shares)	0	0	0	0

Income Taxes (Details)

Income Taxes (Details) R$ in Millions, $ in Millions	6 Months Ended
	Jun. 30, 2023 USD ($)	Jun. 30, 2023 BRL (R$)	Jun. 30, 2023 BRL (R$)	Dec. 31, 2022 USD ($)
Income Tax Contingency [Line Items]
Unrecognized income tax benefits that would affect effective tax rate	$ 321.3			$ 281.7
Unrecognized tax benefits	89.2			74
Accrued or deferred taxes relating to uncertain income tax positions	25.6			10.4
Noncurrent liability for uncertain tax positions	298.7			274.1
Deferred tax assets related to uncertain tax positions	3			2.8
Accrued interest and penalties relating to unrecognized tax benefits	27.8			25.8
Tax disallowance not including interest and penalties	27.3		R$ 131.5
Amnesty program estimate recorded to income tax provision	34.8	R$ 182.6
U.S. tax credits associated with the Amnesty program estimate	8.4
Amnesty program payment	20.3	R$ 102.7
Remaining Amnesty Program balance expected to be paid	16.8
Positive foreign currency translation included in the remaining Amnesty Program balance expected to be paid	2.3
Foreign Tax Authority
Income Tax Contingency [Line Items]
Cash	$ 46			$ 45.1

Derivative Instruments and He_3

Derivative Instruments and Hedging Activities (Narrative) (Details) € in Millions, $ in Millions	Jan. 29, 2028 USD ($)	Jan. 29, 2028 EUR (€)	Jun. 30, 2023 USD ($)	Jun. 30, 2023 EUR (€)	Mar. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Deferred Net (Losses) Gains on Derivatives
Derivative Instruments, Gain (Loss) [Line Items]
Net realized gains (losses) in accumulated other comprehensive loss			$ (6.7)		$ (0.6)	$ (1)
Foreign currency contracts
Derivative Instruments, Gain (Loss) [Line Items]
Notional amount			4,474.4
Foreign currency contracts | Deferred Net (Losses) Gains on Derivatives
Derivative Instruments, Gain (Loss) [Line Items]
Net realized gains (losses) in accumulated other comprehensive loss			(1.3)
Foreign currency contracts | Not Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Notional amount			4,100			3,700
Foreign currency contracts | Cash Flow Hedging | Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Notional amount			392.9			364.8
Commodity contracts | Deferred Net (Losses) Gains on Derivatives
Derivative Instruments, Gain (Loss) [Line Items]
Net realized gains (losses) in accumulated other comprehensive loss			0.4
Commodity contracts | Cash Flow Hedging | Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Notional amount			2.6			0.9
Cross currency swap contract payment | Net Investment Hedging | Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Notional amount			270.6
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 | Net Investment Hedging | Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Notional amount			300			300
Cross swap contract receipt | Net Investment Hedging | Designated as Hedging Instrument | Forecast
Derivative Instruments, Gain (Loss) [Line Items]
Notional amount	$ 300
Foreign currency denominated debt | Net Investment Hedging | Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Notional amount			$ 163.7	€ 150		$ 0

Derivative Instruments and He_4

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, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Derivative [Line Items]
Cost of goods sold	$ 2,817	$ 2,254.7	$ 5,295.6	$ 4,309.1
Cash Flow Hedging | Designated as Hedging Instrument
Derivative [Line Items]
Gain (Loss) Recognized in Accumulated Other Comprehensive Loss	(5.7)	(7.2)	(6.7)	(9.6)
Cash Flow Hedging | Designated as Hedging Instrument | Cost of goods sold
Derivative [Line Items]
Loss Reclassified from Accumulated Other Comprehensive Loss into Income	(1.2)	(4)	(2.7)	(3.1)
Cash Flow Hedging | Designated as Hedging Instrument | Foreign currency contracts
Derivative [Line Items]
Gain (Loss) Recognized in Accumulated Other Comprehensive Loss	(5)	(2.7)	(6.9)	(6.5)
Cash Flow Hedging | Designated as Hedging Instrument | Foreign currency contracts | Cost of goods sold
Derivative [Line Items]
Loss Reclassified from Accumulated Other Comprehensive Loss into Income	(0.8)	(1.9)	(2.6)	(2)
Cash Flow Hedging | Designated as Hedging Instrument | Commodity contracts
Derivative [Line Items]
Gain (Loss) Recognized in Accumulated Other Comprehensive Loss	(0.7)	(4.5)	0.2	(3.1)
Cash Flow Hedging | Designated as Hedging Instrument | Commodity contracts | Cost of goods sold
Derivative [Line Items]
Loss Reclassified from Accumulated Other Comprehensive Loss into Income	$ (0.4)	$ (2.1)	$ (0.1)	$ (1.1)

Derivative Instruments and He_5

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, 2023	Jun. 30, 2023
After-Tax Amount
Balance beginning of period	$ 4,132.9	$ 3,882.6
Balance end of period	4,139	4,139
Deferred Net (Losses) Gains on Derivatives
Before-Tax Amount
Accumulated derivative net gains (losses) as the beginning of the period	(0.6)	(1)
Net changes in fair value of derivatives	(7.9)	(9.3)
Net losses reclassified from accumulated other comprehensive loss into income	1.8	3.6
Accumulated derivative net gains (losses) as of the end of the period	(6.7)	(6.7)
Income Tax
Accumulated derivative net gains (losses) as of the beginning of the period	(0.2)	(0.1)
Net changes in fair value of derivatives	(2.2)	(2.6)
Net losses reclassified from accumulated other comprehensive loss into income	0.6	0.9
Accumulated derivative net gains (losses) as of the end of the period	(1.8)	(1.8)
After-Tax Amount
Balance beginning of period	(0.4)	(0.9)
Other comprehensive loss before reclassifications	(5.7)	(6.7)
Net losses reclassified from accumulated other comprehensive loss into income	1.2	2.7
Balance end of period	$ (4.9)	$ (4.9)

Derivative Instruments and He_6

Derivative Instruments and Hedging Activities (Notional Value and Change in Fair Value of Net Investment Hedges) (Details) - Designated as Hedging Instrument € in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2023 EUR (€)	Dec. 31, 2022 USD ($)
Cross currency swap contract
Derivative [Line Items]
Gain (Loss) Recognized in Accumulated Other Comprehensive Loss, Before-Tax Amount	$ (5.7)	$ 16.6	$ (6.7)	$ 20.8
Gain (Loss) Recognized in Accumulated Other Comprehensive Loss, Income Tax	1.5	(4.3)	1.7	(5.4)
Gain (Loss) Recognized in Accumulated Other Comprehensive Loss, After-Tax Amount	(4.2)	12.3	(5)	15.4
Cross currency swap contract | Net Investment Hedging
Derivative [Line Items]
Notional amount	300		300			$ 300
Foreign currency denominated debt
Derivative [Line Items]
Gain (Loss) Recognized in Accumulated Other Comprehensive Loss, Before-Tax Amount	0.4	0	1.3	0
Gain (Loss) Recognized in Accumulated Other Comprehensive Loss, Income Tax	(0.3)	0	(0.3)	0
Gain (Loss) Recognized in Accumulated Other Comprehensive Loss, After-Tax Amount	0.1	$ 0	1	$ 0
Foreign currency denominated debt | Net Investment Hedging
Derivative [Line Items]
Notional amount	$ 163.7		$ 163.7		€ 150	$ 0

Derivative Instruments and He_7

Derivative Instruments and Hedging Activities (Derivatives not Designated as Hedging Instruments) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
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	$ 37.9	$ 0.4	$ 49.1	$ (13.4)

Derivative Instruments and He_8

Derivative Instruments and Hedging Activities (Fair Value Of Derivative Instruments) (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Derivative [Line Items]
Asset derivatives	$ 39.6	$ 40.9
Liability derivatives	23.6	40.4
Foreign currency contracts | Designated as Hedging Instrument
Derivative [Line Items]
Asset derivatives	2.9	1.3
Liability derivatives	8.3	1.3
Foreign currency contracts | Not Designated as Hedging Instrument
Derivative [Line Items]
Asset derivatives	10.4	6.6
Liability derivatives	14.9	39.1
Commodity contracts | Designated as Hedging Instrument
Derivative [Line Items]
Asset derivatives	0	0
Liability derivatives	0.4	0
Cross currency swap contract | Designated as Hedging Instrument
Derivative [Line Items]
Asset derivatives	26.3	33
Liability derivatives	$ 0	$ 0

Changes in Stockholders' Equi_3

Changes in Stockholders' Equity (Schedule of Stockholders' Equity) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance beginning of period	$ 4,132.9	$ 3,674.9	$ 3,882.6	$ 3,443.8	$ 3,443.8
Stock compensation	13.3	10.6	27.3	17.6
Issuance of stock awards	(1.8)	(0.2)	(20.2)	(20.1)
SSARs exercised	(0.1)		(1.2)	(1)
Comprehensive income:
Net income (loss)	319.2	177.6	551.8	314.6
Other comprehensive income (loss), net of reclassification adjustments:
Foreign currency translation adjustments	74.2	(124.5)	118.6	13.8
Defined benefit pension plans, net of tax	1.9	1.7	3.7	3.4
Deferred gains and losses on derivatives, net of tax	(4.5)	(3.2)	(4)	(6.5)
Payment of dividends to stockholders	(396.1)	(353.6)	(414.1)	(368.5)
Distributions to noncontrolling interest				(13.8)
Balance end of period	4,139	3,383.3	4,139	3,383.3	$ 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), net of reclassification adjustments:
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	0.7
Other comprehensive income (loss), net of reclassification adjustments:
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	24.7	2.9	30.2	3.9	3.9
Stock compensation	13.3	10.6	27.3	17.6
Issuance of stock awards	(1.8)	(0.2)	(20.2)	(7.2)
SSARs exercised	(0.1)		(1.2)	(1)
Other comprehensive income (loss), net of reclassification adjustments:
Balance end of period	36.1	13.3	36.1	13.3	30.2
Retained Earnings
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance beginning of period	5,863.7	5,306.2	5,654.6	5,182.2	5,182.2
Issuance of stock awards	0			(12.9)
Comprehensive income:
Net income (loss)	319.2	177.7	551.8	329.5
Other comprehensive income (loss), net of reclassification adjustments:
Payment of dividends to stockholders	(396.1)	(353.6)	(414.1)	(368.5)
Balance end of period	5,786.8	5,130.3	5,786.8	5,130.3	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), net of reclassification adjustments:
Balance end of period					(5.5)
Accumulated Other Comprehensive Loss
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance beginning of period	(1,756.4)	(1,635)	(1,803.1)	(1,770.9)	(1,770.9)
Other comprehensive income (loss), net of reclassification adjustments:
Foreign currency translation adjustments	74.2	(124.6)	118.6	12.9
Defined benefit pension plans, net of tax	1.9	1.7	3.7	3.4
Deferred gains and losses on derivatives, net of tax	(4.5)	(3.2)	(4)	(6.5)
Balance end of period	(1,684.8)	(1,761.1)	(1,684.8)	(1,761.1)	(1,803.1)
Noncontrolling Interests
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance beginning of period	0.2	0.1	0.2	27.9	27.9
Comprehensive income:
Net income (loss)		(0.1)		(14.9)
Other comprehensive income (loss), net of reclassification adjustments:
Foreign currency translation adjustments		0.1		0.9
Distributions to noncontrolling interest				(13.8)
Balance end of period	$ 0.2	$ 0.1	$ 0.2	$ 0.1	$ 0.2

Changes in Stockholders' Equi_4

Changes in Stockholders' Equity (Schedule of Comprehensive Income (Loss) attributable to Noncontrolling Interests) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Stockholders' Equity Note [Abstract]
Net income (loss)	$ 0	$ (0.1)	$ 0	$ (14.9)
Other comprehensive income:
Foreign currency translation adjustments	0	0.1	0	0.9
Total comprehensive income (loss)	$ 0	$ 0	$ 0	$ (14)

Changes in Stockholders' Equi_5

Changes in Stockholders' Equity (Changes in Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance beginning of period	$ 4,132.9	$ 3,674.9	$ 3,882.6	$ 3,443.8
Other comprehensive income (loss), net of reclassification adjustments	71.6	(126)	118.3	10.7
Balance end of period	4,139	3,383.3	4,139	3,383.3
Defined Benefit Pension Plans
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance beginning of period			(231.2)
Other comprehensive (loss) income before reclassifications			0
Net losses reclassified from accumulated other comprehensive loss			3.7
Other comprehensive income (loss), net of reclassification adjustments			3.7
Balance end of period	(227.5)		(227.5)
Deferred Net (Losses) Gains on Derivatives
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance beginning of period	(0.4)		(0.9)
Other comprehensive (loss) income before reclassifications	(5.7)		(6.7)
Net losses reclassified from accumulated other comprehensive loss	1.2		2.7
Other comprehensive income (loss), net of reclassification adjustments			(4)
Balance end of period	(4.9)		(4.9)
Cumulative Translation Adjustment
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance beginning of period			(1,571)
Other comprehensive (loss) income before reclassifications			118.6
Net losses reclassified from accumulated other comprehensive loss			0
Other comprehensive income (loss), net of reclassification adjustments			118.6
Balance end of period	(1,452.4)		(1,452.4)
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance beginning of period	(1,756.4)	(1,635)	(1,803.1)	(1,770.9)
Other comprehensive (loss) income before reclassifications			111.9
Net losses reclassified from accumulated other comprehensive loss			6.4
Other comprehensive income (loss), net of reclassification adjustments			118.3
Balance end of period	$ (1,684.8)	$ (1,761.1)	$ (1,684.8)	$ (1,761.1)

Changes in Stockholders' Equi_6

Changes in Stockholders' Equity (Reclassifications out of Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Cost of goods sold	$ 2,817	$ 2,254.7	$ 5,295.6	$ 4,309.1
Reclassification before tax	(412.6)	(235.9)	(749)	(422)
Income tax provision	111	71.5	231.2	131.7
Net losses reclassified from accumulated other comprehensive loss	(319.2)	(177.7)	(551.8)	(329.5)
Other expense, net	78	21.7	128.4	39.2
Reclassification out of Accumulated Other Comprehensive Income
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Net losses reclassified from accumulated other comprehensive loss	3.1	5.7	6.4	6.5
Reclassification out of Accumulated Other Comprehensive Income | Derivatives
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Reclassification before tax	1.8	5.4	3.6	4.2
Income tax provision	(0.6)	(1.4)	(0.9)	(1.1)
Net losses reclassified from accumulated other comprehensive loss	1.2	4	2.7	3.1
Reclassification out of Accumulated Other Comprehensive Income | Amortization of net actuarial losses
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Other expense, net	2.2	2.2	4.2	4.4
Reclassification out of Accumulated Other Comprehensive Income | Amortization of prior service cost
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Other expense, net	0.4	0	0.8	0.2
Reclassification out of Accumulated Other Comprehensive Income | Defined benefit plans
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Reclassification before tax	2.6	2.2	5	4.6
Income tax provision	(0.7)	(0.5)	(1.3)	(1.2)
Net losses reclassified from accumulated other comprehensive loss	1.9	1.7	3.7	3.4
Foreign currency contracts | Reclassification out of Accumulated Other Comprehensive Income | Derivatives
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Cost of goods sold	1.3	2.6	3.5	2.7
Commodity contracts | Reclassification out of Accumulated Other Comprehensive Income | Derivatives
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Cost of goods sold	$ 0.5	$ 2.8	$ 0.1	$ 1.5

Changes in Stockholders' Equi_7

Changes in Stockholders' Equity (Narrative) (Details) - USD ($)			1 Months Ended	2 Months Ended	3 Months Ended	6 Months Ended
	Apr. 27, 2023	Jan. 19, 2022	Nov. 30, 2021	Dec. 31, 2021	Jun. 30, 2023	Jun. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock repurchased and retired			$ 60,000,000		$ 0	$ 0
Stock repurchased and retired (in shares)				393,733
Stock repurchase program, outstanding balance authorized to be repurchased					$ 110,000,000	$ 110,000,000
Percentage increase in quarterly dividend	$ 0.21
Dividend rate (in dollars per share)	0.29
Dividends declared (in dollars per share)	$ 5
Accelerated Share Repurchase
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock repurchased and retired (in shares)		113,824

Accounts Receivable Sales Agr_2

Accounts Receivable Sales Agreements (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
Outstanding accounts receivable securitization	$ 130		$ 130		$ 69.5
Other expense, net
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loss on sales of receivables	30.3	$ 10.2	58.8	$ 18.1
Trade Accounts Receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Cash received from receivables sold	227.4		227.4		226
United States, Canada, Europe, and Brazil
Accounts, Notes, Loans and Financing Receivable [Line Items]
Cash received from receivables sold	$ 1,900		$ 1,900		$ 1,800

Pension and Postretirement Be_3

Pension and Postretirement Benefit Plans (Net Pension And Postretirement Cost) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Pension benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 2.4	$ 3.3	$ 4.8	$ 6.6
Interest cost	7.3	3.8	14.5	7.8
Expected return on plan assets	(7.4)	(4.4)	(14.6)	(9)
Amortization of net actuarial losses	2.2	2.2	4.2	4.4
Amortization of prior service cost	0.4	0	0.7	0.1
Net periodic cost	4.9	4.9	9.6	9.9
Postretirement benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost	0	0	0	0.1
Interest cost	0.3	0.3	0.6	0.5
Amortization of prior service cost	0	0	0.1	0.1
Net periodic cost	$ 0.3	$ 0.3	$ 0.7	$ 0.7

Pension and Postretirement Be_4

Pension and Postretirement Benefit Plans (Net Periodic Pension Costs Included in Accumulated Other Comprehensive Income (Loss)) (Details) $ in Millions	6 Months Ended
	Jun. 30, 2023 USD ($)
Defined benefit plans
Before-Tax Amount
Accumulated other comprehensive loss, beginning of period	$ (304.4)
Accumulated other comprehensive, end of period	(299.4)
Income Tax
Accumulated other comprehensive loss, beginning of period	(73.2)
Accumulated other comprehensive loss, end of period	(71.9)
After-Tax Amount
Accumulated other comprehensive loss, beginning of period	(231.2)
Amortization of net actuarial losses/prior service cost	3.7
Accumulated other comprehensive loss, end of period	(227.5)
Amortization of prior service cost
Before-Tax Amount
Amortization of net actuarial losses/prior service cost	0.8
Income Tax
Amortization of net actuarial losses/prior service cost	0.2
After-Tax Amount
Amortization of net actuarial losses/prior service cost	0.6
Amortization of net actuarial losses
Before-Tax Amount
Amortization of net actuarial losses/prior service cost	4.2
Income Tax
Amortization of net actuarial losses/prior service cost	1.1
After-Tax Amount
Amortization of net actuarial losses/prior service cost	$ 3.1

Pension and Postretirement Be_5

Pension and Postretirement Benefit Plans (Narrative) (Details) $ in Millions	6 Months Ended
	Jun. 30, 2023 USD ($)
Pension benefits
Defined Benefit Plan Disclosure [Line Items]
Employer contributions	$ 18.3
Estimated minimum contributions for current fiscal year	34.3
Postretirement Health Coverage
Defined Benefit Plan Disclosure [Line Items]
Employer contributions	0.8
Estimated minimum contributions for current fiscal year	$ 1.7

Fair Value of Financial Instr_3

Fair Value of Financial Instruments (Details) € in Millions, $ in Millions	Jun. 30, 2023 USD ($)	Jun. 30, 2023 EUR (€)	Dec. 31, 2022 USD ($)	Oct. 06, 2021	Jan. 25, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	$ 39.6		$ 40.9
Derivative liabilities	23.6		40.4
1.002% Senior term loan due 2025
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt instrument, interest rate, percent					1.002%
0.800% Senior Notes Due 2028
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt instrument, interest rate, percent				0.80%
Debt fair value	546.4	€ 500.6
Debt carrying amount	655	€ 600	641.5
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	0		0
Derivative liabilities	0		0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets			40.9
Derivative liabilities			40.4
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	0		0
Derivative liabilities	$ 0		$ 0

Segment Reporting (Segment Resu

Segment Reporting (Segment Results By Reportable Segments) (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($) reportable_segment	Jun. 30, 2022 USD ($)	Dec. 31, 2022 USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments | reportable_segment			4
Net sales	$ 3,822.7	$ 2,945.2	$ 7,156.2	$ 5,630.9
Income from operations	496.4	263.5	883.7	467.5
Depreciation			110.1	106.5
Capital expenditures			237	139.2
Assets	11,394		11,394		$ 10,103.7
Operating Segments
Segment Reporting Information [Line Items]
Net sales	3,822.7	2,945.2	7,156.2	5,630.9
Income from operations	574.4	328.1	1,033.5	625.3
Depreciation	56.5	51.8	110.1	106.5
Capital expenditures	111.7	72.9	237	139.2
Assets	7,454.6		7,454.6		6,176.2
North America
Segment Reporting Information [Line Items]
Net sales	996.8	739.9	1,919.9	1,440.9
North America | Operating Segments
Segment Reporting Information [Line Items]
Net sales	996.8	739.9	1,919.9	1,440.9
Income from operations	136.9	50.7	239	105.5
Depreciation	15.2	15	30.1	30.2
Capital expenditures	34.4	15.2	71.7	30.9
Assets	1,990.5		1,990.5		1,790.3
South America
Segment Reporting Information [Line Items]
Net sales	598.6	519.2	1,102.4	875.6
South America | Operating Segments
Segment Reporting Information [Line Items]
Net sales	598.6	519.2	1,102.4	875.6
Income from operations	121.4	85.5	220.9	131.6
Depreciation	8.9	7.6	16.7	14.6
Capital expenditures	13.5	11.2	33.8	21.2
Assets	1,577.4		1,577.4		1,259.8
Europe/Middle East
Segment Reporting Information [Line Items]
Net sales	1,990.8	1,467.6	3,694.6	2,870.7
Europe/Middle East | Operating Segments
Segment Reporting Information [Line Items]
Net sales	1,990.8	1,467.6	3,694.6	2,870.7
Income from operations	295.2	161.2	534.6	323.5
Depreciation	27.7	25.3	54.5	53.5
Capital expenditures	62.8	42.5	129.8	81.7
Assets	3,039.6		3,039.6		2,475.6
Asia/Pacific/Africa
Segment Reporting Information [Line Items]
Net sales	236.5	218.5	439.3	443.7
Asia/Pacific/Africa | Operating Segments
Segment Reporting Information [Line Items]
Net sales	236.5	218.5	439.3	443.7
Income from operations	20.9	30.7	39	64.7
Depreciation	4.7	3.9	8.8	8.2
Capital expenditures	1	$ 4	1.7	$ 5.4
Assets	$ 847.1		$ 847.1		$ 650.5

Segment Reporting (Income From

Segment Reporting (Income From Operations and Total Assets) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Reconciliation of Income From Operations from Segments to Consolidated
Income from operations	$ 496.4	$ 263.5	$ 883.7	$ 467.5
Impairment charges			0	36
Amortization of intangibles	(14.1)	(15.4)	(28.9)	(30.7)
Reconciliation of Assets from Segment to Consolidated
Assets	11,394		11,394		$ 10,103.7
Cash, cash equivalents and restricted cash	463.5		463.5		789.5
Investments in affiliates	507.2		507.2		436.9
Intangible assets, net	341		341		364.4
Goodwill	1,327		1,327		1,310.8
Operating Segments
Reconciliation of Income From Operations from Segments to Consolidated
Income from operations	574.4	328.1	1,033.5	625.3
Reconciliation of Assets from Segment to Consolidated
Assets	7,454.6		7,454.6		6,176.2
Segment Reconciling Items
Reconciliation of Income From Operations from Segments to Consolidated
Impairment charges	0	0	0	(36)
Corporate expenses	(45)	(38.5)	(87.1)	(70.7)
Amortization of intangibles	(14.1)	(15.4)	(28.9)	(30.7)
Stock compensation expense	(12.8)	(10.3)	(26.3)	(17)
Restructuring expenses	(6.1)	$ (0.4)	(7.5)	$ (3.4)
Reconciliation of Assets from Segment to Consolidated
Cash, cash equivalents and restricted cash	463.5		463.5		789.5
Investments in affiliates	507.2		507.2		436.9
Deferred tax assets, other current and noncurrent assets	1,300.7		1,300.7		1,025.9
Intangible assets, net	341		341		364.4
Goodwill	$ 1,327		$ 1,327		$ 1,310.8

Commitments and Contingencies_2

Commitments and Contingencies (Lease Payment Amounts for Operating and Finance Leases) (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Operating Leases
2023	$ 26.7	$ 47.8
2024	44.2	36.6
2025	34.3	27
2026	24.9	19.1
2027	15.7	13.4
Thereafter	58.2	51.2
Total lease payments	204	195.1
Less: imputed interest	(29.4)	(27.5)
Present value of leased liabilities	174.6	167.6
Finance Leases
2023	0.4	0.8
2024	0.6	0.6
2025	0.5	0.4
2026	0.3	0.2
2027	0.3	0.2
Thereafter	6.2	6
Total lease payments	8.3	8.2
Less: imputed interest	(2.1)	(2.1)
Present value of leased liabilities	$ 6.2	$ 6.1

Commitments and Contingencies_3

Commitments and Contingencies (Narrative) (Details) - USD ($)	6 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Guarantor Obligations [Line Items]
Guarantor obligations, current carrying value	$ 33,100,000
Guarantor obligation maximum exposure	187,000,000
Foreign currency contracts
Guarantor Obligations [Line Items]
Notional amount	4,474,400,000
Foreign currency contracts | Cash Flow Hedging | Designated as Hedging Instrument
Guarantor Obligations [Line Items]
Notional amount	392,900,000	$ 364,800,000
Commodity contracts | Cash Flow Hedging | Designated as Hedging Instrument
Guarantor Obligations [Line Items]
Notional amount	2,600,000	$ 900,000
Other Joint Ventures
Guarantor Obligations [Line Items]
Guarantor obligations, current carrying value	15,400,000
Retail Finance Joint Venture
Guarantor Obligations [Line Items]
Guarantor obligations, maximum inventory exposure per calendar year, undiscounted	$ 6,000,000

Revenue (Contract Assets and Li

Revenue (Contract Assets and Liabilities) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Change in Contract with Customer, Liability [Roll Forward]
Balance at beginning of period	$ 259.6	$ 232.4	$ 239	$ 226.2
Advance consideration received	58	31.5	116.5	74.5
Foreign currency translation	1.7	(11.9)	4.7	(15.5)
Balance at end of period	274.6	217.7	274.6	217.7
Revenue recognized that was recorded as a contract liability at the beginning of the period	34.3	28.3	70	52.4
Extended warranty contracts, maintenance services, technology services
Change in Contract with Customer, Liability [Roll Forward]
Revenue recognized during the period for extended warranty contracts	(26.8)	(20.4)	(51.7)	(39)
Grain storage and protein production systems
Change in Contract with Customer, Liability [Roll Forward]
Revenue recognized during the period for extended warranty contracts	$ (17.9)	$ (13.9)	$ (33.9)	$ (28.5)

Revenue (Remaining Performance

Revenue (Remaining Performance Obligations) (Details) $ in Millions	Jun. 30, 2023 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2023-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 85.2
Remaining performance obligation, expected timing of satisfaction, period	6 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2024-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 83.3
Remaining performance obligation, expected timing of satisfaction, period	1 year
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	$ 51.9
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	$ 25.5
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	$ 14.2
Remaining performance obligation, expected timing of satisfaction, period

Revenue (Disaggregated Revenue)

Revenue (Disaggregated Revenue) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Disaggregation of Revenue [Line Items]
Net sales	$ 3,822.7	$ 2,945.2	$ 7,156.2	$ 5,630.9
Tractors
Disaggregation of Revenue [Line Items]
Net sales	2,232.3	1,643.6	4,140.2	3,142.6
Replacement parts
Disaggregation of Revenue [Line Items]
Net sales	491.7	450	947.4	895.5
Grain storage and protein production systems
Disaggregation of Revenue [Line Items]
Net sales	313	286.4	568.9	526.4
Combines, application equipment and other machinery
Disaggregation of Revenue [Line Items]
Net sales	785.7	565.1	1,499.7	1,066.4
United States
Disaggregation of Revenue [Line Items]
Net sales	771.7	583.4	1,531.8	1,153.7
Canada
Disaggregation of Revenue [Line Items]
Net sales	184.7	125.8	312.6	226.9
Brazil
Disaggregation of Revenue [Line Items]
Net sales	512	423.5	937.5	697.1
Other South America
Disaggregation of Revenue [Line Items]
Net sales	83.4	92	157.1	171.3
Germany
Disaggregation of Revenue [Line Items]
Net sales	453.2	288.1	848.6	605.3
France
Disaggregation of Revenue [Line Items]
Net sales	373.7	257.6	675.1	529.2
United Kingdom and Ireland
Disaggregation of Revenue [Line Items]
Net sales	172.9	157.8	347.8	303.2
Finland and Scandinavia
Disaggregation of Revenue [Line Items]
Net sales	225.9	196.1	405.9	393.1
Italy
Disaggregation of Revenue [Line Items]
Net sales	141.6	103.7	233.8	175.2
Other Europe
Disaggregation of Revenue [Line Items]
Net sales	512.7	417.6	957	784.7
Middle East and Algeria
Disaggregation of Revenue [Line Items]
Net sales	110.8	46.6	226.4	80
Africa
Disaggregation of Revenue [Line Items]
Net sales	35.1	34.5	65.5	70.5
Asia
Disaggregation of Revenue [Line Items]
Net sales	102.1	97.3	188.8	201.9
Australia and New Zealand
Disaggregation of Revenue [Line Items]
Net sales	99.3	86.7	185	171.3
Mexico, Central America and Caribbean
Disaggregation of Revenue [Line Items]
Net sales	43.5	34.4	83.3	67.5
North America
Disaggregation of Revenue [Line Items]
Net sales	996.8	739.9	1,919.9	1,440.9
North America | Tractors
Disaggregation of Revenue [Line Items]
Net sales	335.4	263.4	647.5	515.3
North America | Replacement parts
Disaggregation of Revenue [Line Items]
Net sales	130.2	119.5	232	214.1
North America | Grain storage and protein production systems
Disaggregation of Revenue [Line Items]
Net sales	189.2	155.5	336.3	286.7
North America | Combines, application equipment and other machinery
Disaggregation of Revenue [Line Items]
Net sales	342	201.5	704.1	424.9
North America | United States
Disaggregation of Revenue [Line Items]
Net sales	771.7	583.4	1,531.8	1,153.7
North America | Canada
Disaggregation of Revenue [Line Items]
Net sales	184.7	125.8	312.6	226.9
North America | Brazil
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
North America | Other South America
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
North America | Germany
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
North America | France
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
North America | United Kingdom and Ireland
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
North America | Finland and Scandinavia
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
North America | Italy
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
North America | Other Europe
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
North America | Middle East and Algeria
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
North America | Africa
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
North America | Asia
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
North America | Australia and New Zealand
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
North America | Mexico, Central America and Caribbean
Disaggregation of Revenue [Line Items]
Net sales	40.4	30.7	75.5	60.3
South America
Disaggregation of Revenue [Line Items]
Net sales	598.6	519.2	1,102.4	875.6
South America | Tractors
Disaggregation of Revenue [Line Items]
Net sales	371.7	291.3	654.6	497.9
South America | Replacement parts
Disaggregation of Revenue [Line Items]
Net sales	38.9	36.6	82.3	74.8
South America | Grain storage and protein production systems
Disaggregation of Revenue [Line Items]
Net sales	38.9	41.6	79.6	81.6
South America | Combines, application equipment and other machinery
Disaggregation of Revenue [Line Items]
Net sales	149.1	149.7	285.9	221.3
South America | United States
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
South America | Canada
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
South America | Brazil
Disaggregation of Revenue [Line Items]
Net sales	512	423.5	937.5	697.1
South America | Other South America
Disaggregation of Revenue [Line Items]
Net sales	83.4	92	157.1	171.3
South America | Germany
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
South America | France
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
South America | United Kingdom and Ireland
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
South America | Finland and Scandinavia
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
South America | Italy
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
South America | Other Europe
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
South America | Middle East and Algeria
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
South America | Africa
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
South America | Asia
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
South America | Australia and New Zealand
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
South America | Mexico, Central America and Caribbean
Disaggregation of Revenue [Line Items]
Net sales	3.1	3.7	7.8	7.2
Europe/Middle East
Disaggregation of Revenue [Line Items]
Net sales	1,990.8	1,467.6	3,694.6	2,870.7
Europe/Middle East | Tractors
Disaggregation of Revenue [Line Items]
Net sales	1,393.3	976.5	2,599	1,891.6
Europe/Middle East | Replacement parts
Disaggregation of Revenue [Line Items]
Net sales	299.1	270.8	582.3	556.8
Europe/Middle East | Grain storage and protein production systems
Disaggregation of Revenue [Line Items]
Net sales	49.7	45.7	83.8	77
Europe/Middle East | Combines, application equipment and other machinery
Disaggregation of Revenue [Line Items]
Net sales	248.7	174.5	429.5	345.2
Europe/Middle East | United States
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
Europe/Middle East | Canada
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
Europe/Middle East | Brazil
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
Europe/Middle East | Other South America
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
Europe/Middle East | Germany
Disaggregation of Revenue [Line Items]
Net sales	453.2	288.1	848.6	605.3
Europe/Middle East | France
Disaggregation of Revenue [Line Items]
Net sales	373.7	257.6	675.1	529.2
Europe/Middle East | United Kingdom and Ireland
Disaggregation of Revenue [Line Items]
Net sales	172.9	157.8	347.8	303.2
Europe/Middle East | Finland and Scandinavia
Disaggregation of Revenue [Line Items]
Net sales	225.9	196.1	405.9	393.1
Europe/Middle East | Italy
Disaggregation of Revenue [Line Items]
Net sales	141.6	103.7	233.8	175.2
Europe/Middle East | Other Europe
Disaggregation of Revenue [Line Items]
Net sales	512.7	417.6	957	784.7
Europe/Middle East | Middle East and Algeria
Disaggregation of Revenue [Line Items]
Net sales	110.8	46.6	226.4	80
Europe/Middle East | Africa
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
Europe/Middle East | Asia
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
Europe/Middle East | Australia and New Zealand
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
Europe/Middle East | Mexico, Central America and Caribbean
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
Asia/Pacific/Africa
Disaggregation of Revenue [Line Items]
Net sales	236.5	218.5	439.3	443.7
Asia/Pacific/Africa | Tractors
Disaggregation of Revenue [Line Items]
Net sales	131.9	112.4	239.1	237.8
Asia/Pacific/Africa | Replacement parts
Disaggregation of Revenue [Line Items]
Net sales	23.5	23.1	50.8	49.8
Asia/Pacific/Africa | Grain storage and protein production systems
Disaggregation of Revenue [Line Items]
Net sales	35.2	43.6	69.2	81.1
Asia/Pacific/Africa | Combines, application equipment and other machinery
Disaggregation of Revenue [Line Items]
Net sales	45.9	39.4	80.2	75
Asia/Pacific/Africa | United States
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
Asia/Pacific/Africa | Canada
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
Asia/Pacific/Africa | Brazil
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
Asia/Pacific/Africa | Other South America
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
Asia/Pacific/Africa | Germany
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
Asia/Pacific/Africa | France
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
Asia/Pacific/Africa | United Kingdom and Ireland
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
Asia/Pacific/Africa | Finland and Scandinavia
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
Asia/Pacific/Africa | Italy
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
Asia/Pacific/Africa | Other Europe
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
Asia/Pacific/Africa | Middle East and Algeria
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
Asia/Pacific/Africa | Africa
Disaggregation of Revenue [Line Items]
Net sales	35.1	34.5	65.5	70.5
Asia/Pacific/Africa | Asia
Disaggregation of Revenue [Line Items]
Net sales	102.1	97.3	188.8	201.9
Asia/Pacific/Africa | Australia and New Zealand
Disaggregation of Revenue [Line Items]
Net sales	99.3	86.7	185	171.3
Asia/Pacific/Africa | Mexico, Central America and Caribbean
Disaggregation of Revenue [Line Items]
Net sales	$ 0	$ 0	$ 0	$ 0