AGCO (AGCO) 10-Q 7 Nov 24 2024 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2024	Nov. 01, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
Document Transition Report	false
Entity File Number	001-12930
Entity Registrant Name	AGCO CORP /DE
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	58-1960019
Entity Address, Address Line One	4205 River Green Parkway
Entity Address, City or Town	Duluth,
Entity Address, State or Province	GA
Entity Address, Postal Zip Code	30096
City Area Code	(770)
Local Phone Number	813-9200
Title of 12(b) Security	Common stock
Trading Symbol	AGCO
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		74,645,281
Entity Central Index Key	0000880266
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Current Assets:
Cash and cash equivalents	$ 622.6	$ 595.5
Accounts and notes receivable, net	1,448.4	1,605.3
Inventories, net	3,443.2	3,440.7
Other current assets	607.7	699.3
Current assets held for sale	417	0
Total current assets	6,538.9	6,340.8
Property, plant and equipment, net	1,880.6	1,920.9
Right-of-use lease assets	171.8	176.2
Investments in affiliates	551.5	512.7
Deferred tax assets	507.3	481.6
Other assets	450.5	346.8
Noncurrent assets held for sale	459	0
Intangible assets, net	588.8	308.8
Goodwill	2,358.4	1,333.4
Total assets	13,506.8	11,421.2
Current Liabilities:
Borrowings due within one year	412.3	15
Accounts payable	961.1	1,207.3
Accrued expenses	2,508.8	2,903.8
Other current liabilities	138.3	217.5
Current liabilities held for sale	259.6	0
Total current liabilities	4,280.1	4,343.6
Long-term debt, less current portion and debt issuance costs	3,610	1,377.2
Operating lease liabilities	129	134.4
Pension and postretirement health care benefits	167.9	170.5
Deferred tax liabilities	120.4	122.6
Other noncurrent liabilities	686.2	616.1
Noncurrent liabilities held for sale	26.9	0
Total liabilities	9,020.5	6,764.4
Commitments and contingencies (Note 17)
Redeemable noncontrolling interests	337.5	0
AGCO Corporation stockholders’ equity:
Preferred stock; $0.01 par value, 1,000,000 shares authorized, no shares issued or outstanding in 2024 and 2023	0	0
Common stock; $0.01 par value, 150,000,000 shares authorized, 74,644,933 and 74,517,973 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively	0.7	0.7
Additional paid-in capital	12.4	4.1
Retained earnings	5,938.9	6,360
Accumulated other comprehensive loss	(1,803.2)	(1,708.1)
Total AGCO Corporation stockholders’ equity	4,148.8	4,656.7
Noncontrolling interests	0	0.1
Total stockholders’ equity	4,148.8	4,656.8
Total liabilities, redeemable noncontrolling interests and stockholders’ equity	$ 13,506.8	$ 11,421.2

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	1,000,000	1,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	150,000,000	150,000,000
Common stock, shares issued (in shares)	74,644,933	74,517,973
Common stock, shares outstanding (in shares)	74,644,933	74,517,973

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Statement [Abstract]
Net sales	$ 2,599.3	$ 3,455.5	$ 8,774.6	$ 10,611.7
Cost of goods sold	1,996.2	2,521.5	6,564.2	7,817.1
Gross profit	603.1	934	2,210.4	2,794.6
Operating expenses:
Selling, general and administrative expenses	344.3	355.6	1,074.5	1,037.7
Engineering expenses	121.3	139.6	390	398
Amortization expense	8.8	14.4	54.4	43.3
Impairment charges	0.2	0	5.3	0
Restructuring and business optimization expenses	10.5	0.8	41.7	8.3
Loss on business held for sale	3.2	0	497.8	0
Income from operations	114.8	423.6	146.7	1,307.3
Interest expense, net	33.9	5.5	65.7	11.8
Other expense, net	52.3	84.2	168.4	212.6
Income before income taxes and equity in net earnings of affiliates	28.6	333.9	(87.4)	1,082.9
Income tax provision	11.9	75.3	122.6	306.5
Income before equity in net earnings of affiliates	16.7	258.6	(210)	776.4
Equity in net earnings of affiliates	12.2	21.9	38	55.9
Net income	28.9	280.5	(172)	832.3
Net loss attributable to noncontrolling interests	1.1	0.1	2.9	0.1
Net income attributable to AGCO Corporation and subsidiaries	$ 30	$ 280.6	$ (169.1)	$ 832.4
Net income per common share attributable to AGCO Corporation and subsidiaries:
Basic (in dollars per share)	$ 0.40	$ 3.75	$ (2.27)	$ 11.11
Diluted (in dollars per share)	0.40	3.74	(2.27)	11.10
Cash dividends declared per common share (in dollars per share)	0.29	0.29	3.37	5.81
Cash dividends paid per common share (in dollars per share)	$ 0.29	$ 0.29	$ 3.37	$ 5.81
Weighted average number of common and common equivalent shares outstanding:
Basic (in shares)	74.6	74.9	74.6	74.9
Diluted (in shares)	74.7	75	74.7	75

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 28.9	$ 280.5	$ (172)	$ 832.3
Other comprehensive income (loss):
Foreign currency translation adjustments	81	(54.5)	(107.1)	64.1
Defined pension and postretirement benefit plans, net of tax	2	1.9	5.6	5.6
Deferred gains and losses on derivatives, net of tax	1.6	0.5	6.5	(3.5)
Other comprehensive income (loss)	84.6	(52.1)	(95)	66.2
Comprehensive income	113.5	228.4	(267)	898.5
Comprehensive loss attributable to noncontrolling interests	0	0.1	2.8	0.1
Comprehensive income attributable to AGCO Corporation and subsidiaries	$ 113.5	$ 228.5	$ (264.2)	$ 898.6

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions		9 Months Ended
		Sep. 30, 2024	Sep. 30, 2023
Cash flows from operating activities:
Net income		$ (172)	$ 832.3
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation		189.4	168.9
Amortization of intangibles		54.4	43.3
Stock compensation expense		21.3	37.5
Impairment charges		5.3	0
Loss on business held for sale		497.8	0
Equity in net earnings of affiliates, net of cash received		(37.3)	(53)
Deferred income tax benefit		(30.7)	(55.2)
Other		24.9	17.1
Changes in operating assets and liabilities:
Accounts and notes receivable, net		(102.4)	(481.6)
Inventories, net		(221.1)	(542.9)
Other current and noncurrent assets		(79.7)	(140.6)
Accounts payable		(77.4)	(56.1)
Accrued expenses		(286.2)	251.8
Other current and noncurrent liabilities		105.7	181.2
Total adjustments		64	(629.6)
Net cash provided by (used in) operating activities		(108)	202.7
Cash flows from investing activities:
Purchases of property, plant and equipment		(279.3)	(357.7)
Proceeds from sale of property, plant and equipment		1.8	5.2
Purchase of businesses, net of cash acquired		(1,902.2)	(0.9)
Investments in unconsolidated affiliates, net		(1.6)	(21.3)
Other		(0.2)	(4)
Net cash used in investing activities		(2,181.5)	(378.7)
Cash flows from financing activities:
Proceeds from indebtedness		2,624.6	725.5
Repayments of indebtedness		(2.3)	(148.5)
Payment of dividends to stockholders		(251.5)	(435.8)
Payment of minimum tax withholdings on stock compensation		(11.9)	(20.5)
Payment of debt issuance costs		(15.7)	(9.5)
Investments by noncontrolling interests, net		8.1	0
Net cash provided by financing activities		2,351.3	111.2
Effects of exchange rate changes on cash, cash equivalents and restricted cash		(14.7)	(44)
Increase (decrease) in cash, cash equivalents and restricted cash		47.1	(108.8)
Cash, cash equivalents and restricted cash, beginning of period		595.5	789.5
Cash, cash equivalents and restricted cash, end of period	[1]	$ 642.6	$ 680.7
[1]Includes $20.0 million of cash and cash equivalents classified as held for sale as of September 30, 2024.

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Parenthetical) $ in Millions	Sep. 30, 2024 USD ($)
Statement of Cash Flows [Abstract]
Cash and cash equivalents classified as held for sale	$ 20

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	BASIS OF PRESENTATION The condensed consolidated financial statements of AGCO Corporation and its subsidiaries (the “Company” or “AGCO”) included herein have been prepared in accordance with United States generally accepted accounting principles (“U.S. GAAP”) for interim financial information and the rules and regulations of the Securities and Exchange Commission. In the opinion of management, the accompanying unaudited condensed consolidated financial statements reflect all adjustments, which are of a normal recurring nature, necessary to present fairly the Company’s financial position, results of operations, comprehensive income (loss) and cash flows at the dates and for the periods presented. These condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and the notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023. Results for interim periods are not necessarily indicative of the results for the year. Certain prior-period amounts have been reclassified in the accompanying condensed consolidated financial statements and notes thereto in order to conform to the current period presentation. The Company has a wholly-owned subsidiary in Turkey that distributes agricultural equipment and replacement parts. On the basis of available data related to inflation indices and as a result of the devaluation of the Turkish lira relative to the United States dollar, the Turkish economy was determined to be highly inflationary during 2022. A highly inflationary economy is one where the cumulative inflation rate for the three years preceding the beginning of the reporting period, including interim reporting periods, is in excess of 100 percent. For subsidiaries operating in highly inflationary economies, the United States dollar is the functional currency. Remeasurement adjustments for financial statements in highly inflationary economies and other transactional exchange gains and losses are reported in "Other expense, net" within the Company's Condensed Consolidated Statements of Operations. For the nine months ended and as of September 30, 2024, the Company's wholly-owned subsidiary in Turkey had net sales of approximately $317.9 million and total assets of approximately 5.9 billion Turkish lira (or approximately $173.1 million). The monetary assets and liabilities denominated in the Turkish lira were approximately 4.6 billion Turkish lira (or approximately $134.0 million) and approximately 2.5 billion Turkish lira (or approximately $72.0 million), respectively, as of September 30, 2024. The monetary assets and liabilities were remeasured into United States dollar based on exchange rates as of September 30, 2024. The Company has a wholly-owned subsidiary in Argentina that assembles and distributes agricultural equipment and replacement parts. In recent years, the Argentine government has substantially limited the ability of companies to transfer funds out of Argentina. As a consequence of these limitations, the spread between the official government exchange rate and the exchange rates resulting from certain capital market operations, usually effected to obtain United States dollars, has broadened significantly. Argentina's economy was determined to be highly inflationary during 2018. In December 2023, the central bank of Argentina adjusted the official foreign currency exchange rate for the Argentine peso, significantly devaluing the currency relative to the United States dollar. For the nine months ended and as of September 30, 2024, the Company's wholly-owned subsidiary in Argentina had net sales of approximately $167.3 million and total assets of approximately 254.7 billion pesos (or approximately $262.3 million). The monetary assets of the Company's operations in Argentina denominated in pesos at the official government rate were approximately 104.4 billion pesos (or approximately $107.5 million), inclusive of approximately 59.8 billion pesos (or approximately $61.6 million) in cash and cash equivalents, as of September 30, 2024. The monetary liabilities of the Company's operations in Argentina denominated in pesos at the official government rate were approximately 15.3 billion pesos (or approximately $15.8 million) as of September 30, 2024. The monetary assets and liabilities were remeasured into United States dollar based on exchange rates as of September 30, 2024. The Company's finance joint venture in Argentina, AGCO Capital Argentina S.A. ("AGCO Capital"), had net monetary assets denominated in pesos at the official government rate of approximately 9.0 billion pesos (or approximately $9.3 million) as of September 30, 2024. All gains and losses resulting from AGCO Capital's remeasurement of its monetary assets and liabilities are reported as part of AGCO Capital's net income, our share of which is included in “Equity in net earnings of affiliates” within our Condensed Consolidated Statements of Operations. New Accounting Pronouncements to be Adopted In November 2023, the FASB issued ASU 2023-07, "Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures," which expands annual and interim disclosure requirements and requires entities to disclose its significant segment expense categories and amounts for each reportable segment. The ASU is effective for public entities for fiscal years beginning after December 15, 2023, and interim periods in fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the potential effect that the updated standard will have on its financial statement disclosures. In December 2023, the FASB issued ASU 2023-09, "Income Taxes (Topic 740): Improvements to Income Tax Disclosures". The standard requires disaggregated information about a reporting entity’s effective tax rate reconciliation as well as information on income taxes paid. The requirements will be effective for annual periods beginning after December 15, 2024. The guidance will be applied on a prospective basis with the option to apply the standard retrospectively. Early adoption is permitted. The Company is currently evaluating the potential effect that the updated standard will have on its financial statement disclosures.

Acquisitions

Acquisitions	9 Months Ended
	Sep. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Acquisitions	ACQUISITIONS On September 28, 2023, the Company entered into a Sale and Contribution Agreement among AGCO, Trimble Inc. (“Trimble”) and PTx Trimble, LLC (“PTx Trimble” or the "Joint Venture"), formerly known as Trimble Solutions, LLC, which was subsequently amended and restated on March 31, 2024. On April 1, 2024, pursuant to the terms of an Amended and Restated Sale and Contribution Agreement (the “Agreement”), AGCO and Trimble completed (i) the contribution by Trimble to the Joint Venture of Trimble’s OneAg business (“OneAg”), which is Trimble’s agricultural business, excluding certain Global Navigation Satellite System and guidance technologies, and $8.1 million of cash, (ii) the contribution by AGCO to the Joint Venture of its interest in JCA Industries, LLC d/b/a JCA Technologies and $46.0 million of cash, and (iii) the purchase by AGCO from Trimble of membership interests in the Joint Venture in exchange for the payment by AGCO to Trimble of $1,954.0 million in cash, subject to customary working capital and other adjustments. Immediately following the closing and as a result of the transaction, AGCO directly and indirectly owns an 85% interest in the Joint Venture and Trimble owns a 15% interest in the Joint Venture. The purchase price was funded using net proceeds from the issuance of Senior Notes due 2027 and 2034, a term loan facility and the remainder through other borrowings and cash on hand. Refer to Note 9 for further information. AGCO began consolidating PTx Trimble within its consolidated financial statements on April 1, 2024. The Company is accounting for the Joint Venture transaction as a business combination using the acquisition method of accounting which requires assets acquired and liabilities assumed to be recorded at their acquisition date fair value. The Company preliminarily allocated the purchase price of the acquisition to identified assets acquired, liabilities assumed, and noncontrolling interests based on their estimated fair values as of the acquisition date. The excess of the purchase price over the aggregate fair values was recorded as goodwill. The Company calculated the fair value of the assets acquired using the income, market or cost approach (or a combination thereof). Fair values of certain assets were determined based on Level 3 inputs, including estimated future cash flows, discount rates, royalty rates, growth rates and sales projections, all of which require significant management judgment and are susceptible to change. The purchase price allocation was based upon preliminary information and is subject to change if additional information about the facts and circumstances that existed at the acquisition date becomes available. Measurement period adjustments to the previously disclosed preliminary fair values of developed technologies, tradename, favorable contracts, customer relationships and redeemable noncontrolling interests as a result of updated valuations were recorded resulting in a decrease of intangible assets of $94.9 million, redeemable noncontrolling interests of $167.2 million and goodwill of $72.0 million during the three months ended September 30, 2024. The adjustment to intangible assets resulted in a reduction of amortization expense of approximately $5.9 million being recorded during the three months ended September 30, 2024. The Company continues to evaluate the valuation of the assets acquired and liabilities assumed related to the acquisition, including inventories, developed technologies, tradename, favorable contracts, customer relationships, deferred taxes and redeemable noncontrolling interests. The final fair value of the net assets acquired may result in adjustments to these assets and liabilities, including goodwill. Any subsequent measurement period adjustments are not expected to have a material impact on the Company's results of operations. The goodwill consists of expected future economic benefits that will arise from expected future product sales, operating efficiencies and sales channel synergies that may result from the Joint Venture. The Company expects that the portion of the goodwill balance allocated to the US business will be deductible for tax purposes, and the goodwill allocated to the Joint Venture’s investments in foreign subsidiaries, primarily in Germany and France, will not be deductible for tax purposes. At this time, the assignment of goodwill to reporting units has not yet been completed. The estimated purchase consideration transferred consisted of the following (in millions): Purchase Consideration Total cash consideration for OneAg $ 1,954.0 Estimated working capital and other adjustments (45.6) Equity transaction associated with JCA noncontrolling interest (a) 3.1 Total purchase consideration $ 1,911.5 (a) Equity transaction associated with JCA noncontrolling interest The transfer of the 15% interest in AGCO's JCA business is accounted for as an equity transaction. The adjustment to additional paid-in-capital represents the excess of the fair value of the JCA business transferred over its historical carrying amount. The fair value of the JCA business was determined using a discounted cash flow model. The preliminary fair values of the assets acquired, liabilities assumed and noncontrolling interests as of the acquisition date are presented in the following table (in millions): As of April 1, 2024 Cash $ 6.3 Accounts receivable 12.3 Inventories 58.9 Other current assets 3.2 Property, plant and equipment 21.6 Deferred tax assets 0.1 Right-of-use lease assets 2.4 Other assets (non-current) 0.1 Intangible assets 450.1 Goodwill 1,731.3 Total assets acquired $ 2,286.3 Accounts payable $ 2.1 Accrued expenses 11.3 Other current liabilities 14.0 Operating lease liabilities 1.6 Deferred tax liabilities 4.0 Other noncurrent liabilities 9.6 Total liabilities assumed $ 42.6 Redeemable noncontrolling interests (b) $ 332.2 Net assets acquired $ 1,911.5 (b) Redeemable noncontrolling interests Trimble has a put option to sell its noncontrolling interests to the Company, and the Company has a call option to redeem Trimble's noncontrolling interests. The first exercisable date of both the put and call options is April 1, 2027. The put and call options prices are based on multiples of EBITDA, subject to the terms of the Agreement. We estimated the preliminary fair value of the put and call options using a Monte Carlo simulation along with a Black Scholes model assuming an exercise date of three years from the close of the transaction, the first allowable exercise date. We evaluated the put and call options for the redeemable noncontrolling interests under ASC 480, Distinguishing Liabilities from Equity, and classified the redeemable noncontrolling interests as mezzanine equity based on its redemption features. The amount of the net income or loss attributable to the redeemable noncontrolling interests is recorded in “Net loss attributable to noncontrolling interests” within the Company's Condensed Consolidated Statements of Operations. To the extent the redemption value exceeds the initial fair value recorded, the Company will recognize the entire change in the redemption amount each reporting period in retained earnings. The acquired identifiable intangible assets of OneAg as of the date of the acquisition are summarized in the following table (in millions): Fair Value Useful Life (1) Developed Technology $ 359.3 7 -15 years Customer Relationships 39.9 20 years Tradename 6.1 5 years Favorable contracts 44.8 2 - 7 years $ 450.1 ____________________________________ (1) Based on available information and certain assumptions that we believe are reasonable. The following unaudited pro forma financial information presents the consolidated results of operations as if the OneAg acquisition had occurred on January 1, 2023. OneAg's pre-acquisition results have been added to the Company's historical results. The pro forma results (in millions) contained in the table below include adjustments for (i) the elimination of sales between the Company and OneAg, (ii) amortization of acquired intangible assets (iii) interest expense and amortization of debt issuance costs related to borrowings under the Senior Notes due 2027 and 2034 and term loan facility and (iv) transaction-related costs as if these had been incurred on January 1, 2023 for the periods ending September 30, 2023 and 2024, respectively. Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Unaudited Consolidated Pro Forma Results Net sales $ 2,599.3 $ 3,568.1 $ 8,858.0 $ 10,987.6 Net income (loss) attributable to AGCO Corporation and subsidiaries 30.6 277.8 (165.5) 799.5 These pro forma results have been prepared for comparative purposes only and are not necessarily indicative of the results of operations as they would have been had the acquisitions occurred on the assumed dates, nor are they necessarily an indication of future operating results. The amounts of PTx Trimble's net sales and net loss attributable to AGCO Corporation and subsidiaries consolidated by the Company since the acquisition date were $122.1 million and $21.3 million, respectively. During the nine months ended September 30, 2024, transaction-related costs of approximately $24.1 million were expensed as incurred to “Selling, general and administrative expenses” in the Company's Condensed Consolidated Statements of Operations.

Business Held for Sale

Business Held for Sale	9 Months Ended
	Sep. 30, 2024
Discontinued Operations and Disposal Groups [Abstract]
Business Held for Sale	BUSINESS HELD FOR SALE On July 25, 2024, the Company entered into a Stock and Asset Purchase Agreement to sell the majority of its Grain & Protein (“G&P”) business, which includes the GSI®, Automated Production® (AP), Cumberland®, Cimbria® and Tecno® brands for a purchase price of $700.0 million, subject to customary working capital and other adjustments. As of June 30, 2024, the business met the criteria to be classified as held for sale. The Company recognizes assets and liabilities held for sale at the lower of carrying value or fair market value less costs to sell. The fair market value less costs to sell of the disposal group is evaluated at each reporting period to determine if it has changed, and any subsequent changes are recognized as a gain or loss with a corresponding adjustment to the carrying amount of the disposal group. The loss on business held for sale will be finalized in the fourth quarter upon the closing of the transaction based on the carrying value of the disposal group at the date of sale. The Company determined the intended sale of the G&P business does not represent a strategic shift that will have a major effect on the consolidated results of operations, and therefore results of this business were not classified as discontinued operations. The results of the G&P business are included within our North America, South America, Europe/Middle East and Asia/Pacific/Africa segments. As of September 30, 2024, the Company recognized a loss on business held for sale of $497.8 million, which represents the estimated loss on the business held for sale, and is included within “Loss on business held for sale” in the Company's Condensed Consolidated Statements of Operations. The estimated loss includes $71.6 million of cumulative translation adjustment losses related to the assets expected to be divested and an estimate of costs to sell the business. On November 1, 2024, the Company completed the previously announced sale of the Company’s G&P business to A-AG Holdco Limited, an affiliate of American Industrial Partners. Additionally, on November 1, 2024, the Company repaid the $500.0 million outstanding under the Term Loan Facility and $150.0 million outstanding under the Credit Facility utilizing proceeds from the sale of the Company’s G&P business. Refer to Note 9 for further information. The major categories of assets and liabilities of the business classified as held for sale as of September 30, 2024 were as follows: September 30, 2024 Current assets held for sale: Cash and cash equivalents $ 20.0 Accounts and notes receivable, net 191.6 Inventories, net 180.2 Other current assets 25.2 Total current assets held for sale 417.0 Property, plant and equipment, net 101.9 Right-of-use lease assets 14.8 Other assets 9.7 Intangible assets, net 114.6 Goodwill 218.0 Total assets held for sale $ 876.0 Current liabilities held for sale: Accounts payable $ 92.5 Accrued expenses 111.2 Other current liabilities 55.9 Total current liabilities held for sale 259.6 Deferred tax liabilities 11.1 Operating lease liabilities 10.5 Other noncurrent liabilities 5.3 Total liabilities held for sale $ 286.5 Disposal group, net $ 589.5

Accounts Receivable Sales Agree

Accounts Receivable Sales Agreements	9 Months Ended
	Sep. 30, 2024
Transfers and Servicing [Abstract]
Accounts Receivable Sales Agreements	ACCOUNTS RECEIVABLE SALES AGREEMENTS The Company has accounts receivable sales agreements that permit the sale, on an ongoing basis, of a majority of its wholesale receivables in North America, Europe and Brazil to its U.S., Canadian, European and Brazilian finance joint ventures. The cash received from receivables sold under the U.S., Canadian, European and Brazilian accounts receivable sales agreements that remain outstanding as of September 30, 2024 and December 31, 2023 was approximately $2.2 billion and $2.5 billion, respectively. Under the terms of the accounts receivable sales agreements in the U.S., Canada, Europe and Brazil, the Company pays an annual fee related to the servicing of the receivables sold. The Company also pays the respective AGCO Finance entities a subsidized interest payment with respect to the accounts receivable sales agreements, calculated based upon the interest rate charged by Rabobank to its affiliate, and such affiliate then lends to the AGCO Finance entities plus an agreed-upon margin. These fees are reflected within losses on the sales of receivables included within “Other expense, net” in the Company’s Condensed Consolidated Statements of Operations. The Company does not service the receivables after the sale occurs and does not maintain any direct retained interest in the receivables. The Company reviewed its accounting for the accounts receivable sales agreements and determined that receivables sold under these agreements should be accounted for as off-balance sheet transactions. In addition, the Company sells certain trade receivables under factoring arrangements to other financial institutions around the world. The cash received from trade receivables sold under factoring arrangements that remain outstanding as of September 30, 2024 and December 31, 2023 was approximately $205.4 million and $254.1 million, respectively. Under these arrangements, the Company is required to continue to service the sold receivables at market rates. The Company does not maintain any direct retained interest in the receivables. The Company reviewed its accounting for the accounts receivable sales agreements and determined that receivables sold under these agreements should be accounted for as off-balance sheet transactions. Losses on sales of receivables associated with the accounts receivable sales agreements discussed above, reflected within “Other expense, net” in the Company’s Condensed Consolidated Statements of Operations, were approximately $28.4 million and $92.2 million during the three and nine months ended September 30, 2024, respectively. Losses on sales of receivables associated with the accounts receivable sales agreements discussed above, reflected within “Other expense, net” in the Company’s Condensed Consolidated Statements of Operations, were approximately and $40.5 million and $99.3 million during the three and nine months ended September 30, 2023, respectively. The Company’s finance joint ventures in Europe, Brazil and Australia also provide wholesale financing directly to the Company’s dealers. As of September 30, 2024 and December 31, 2023, these finance joint ventures had approximately $203.2 million and $211.3 million, respectively, of outstanding accounts receivable associated with these arrangements. In certain foreign countries, the Company invoices its finance joint ventures directly and the finance joint ventures retain a form of title to the goods delivered to dealers until the dealer makes payment so that the finance joint ventures can recover the goods in the event of dealer or end customer default on payment. This occurs as the laws of some foreign countries do not provide for a seller’s retention of a security interest in goods in the same manner as established in the United States Uniform Commercial Code. The only right the finance joint ventures retain with respect to the title are those enabling recovery of the goods in the event of customer default on payment. The dealer or distributor may not return equipment or replacement parts to the Company while its contract with the finance joint venture is in force, and can only return the equipment to the retail finance joint venture with penalties that would generally not make it economically beneficial to do so.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	9 Months Ended
	Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	GOODWILL AND OTHER INTANGIBLE ASSETS Changes in the carrying amount of goodwill during the nine months ended September 30, 2024 are summarized as follows (in millions): North America South America Europe/Middle East Asia/Pacific/Africa Unallocated (1) Consolidated Balance as of December 31, 2023 $ 668.2 $ 93.5 $ 458.5 $ 113.2 $ — $ 1,333.4 Acquisitions — — 8.7 — 1,731.3 1,740.0 Reclassified to held for sale (2) (524.1) (13.1) (62.1) (116.5) — (715.8) Foreign currency translation (0.8) (10.2) 5.0 3.3 3.5 0.8 Balance as of September 30, 2024 $ 143.3 $ 70.2 $ 410.1 $ — $ 1,734.8 $ 2,358.4 ____________________________________ (1) Unallocated goodwill relates to the PTx Trimble joint venture transaction. Refer to Note 2 for additional information. (2) Reclassification resulting from the Company's classification of the G&P business as held for sale, $497.8 million is included within “Loss on business held for sale” in the Company’s Condensed Consolidated Statements of Operations and $218.0 million is included within “Assets held for sale” in the Company’s Condensed Consolidated Balance Sheets. Refer to Note 3 for additional information. Goodwill is tested for impairment on an annual basis and more often if indications of impairment exist. The Company conducts its annual impairment analyses as of October 1 st each year. Changes in the carrying amount of acquired intangible assets during the nine months ended September 30, 2024 are summarized as follows (in millions): Gross carrying amounts: Trademarks and Trade Names Customer Relationships Patents and Technology Other Total Balance as of December 31, 2023 $ 194.3 $ 580.7 $ 148.2 $ 6.3 $ 929.5 Acquisitions 6.1 39.9 359.3 44.8 450.1 Reclassified to held for sale (1) (124.6) (420.6) (60.0) — (605.2) Foreign currency translation (0.4) (3.6) (2.2) 0.1 (6.1) Balance as of September 30, 2024 $ 75.4 $ 196.4 $ 445.3 $ 51.2 $ 768.3 Accumulated amortization: Trademarks and Trade Names Customer Relationships Patents and Technology Other Total Balance as of December 31, 2023 $ 114.5 $ 483.4 $ 113.3 $ 1.7 $ 712.9 Amortization expense 6.4 20.8 19.9 7.3 54.4 Reclassified to held for sale (1) (75.0) (370.2) (50.0) — (495.2) Foreign currency translation (0.8) (3.2) (1.7) — (5.7) Balance as of September 30, 2024 $ 45.1 $ 130.8 $ 81.5 $ 9.0 $ 266.4 Indefinite-lived intangible assets: Trademarks and Trade Names Balance as of December 31, 2023 $ 85.9 Foreign currency translation 0.3 Balance as of September 30, 2024 $ 86.2 ____________________________________ (1) Reclassification resulting from the Company's classification of the G&P business as held for sale. Refer to Note 3 for additional information. The Company amortizes certain acquired identifiable intangible assets primarily on a straight-line basis over their estimated useful lives, which range from one

Inventories

Inventories	9 Months Ended
	Sep. 30, 2024
Inventory Disclosure [Abstract]
Inventories	INVENTORIES Inventories, net at September 30, 2024 and December 31, 2023, excluding amounts classified as held for sale, were as follows (in millions): September 30, 2024 December 31, 2023 Finished goods $ 1,604.6 $ 1,460.7 Repair and replacement parts 813.5 823.1 Work in process 260.3 255.2 Raw materials 764.8 901.7 Inventories, net $ 3,443.2 $ 3,440.7 At September 30, 2024 and December 31, 2023, the Company had recorded $285.9 million and $238.9 million respectively, as a reserve for surplus and obsolete inventories. These reserves are reflected within "Inventories, net" within the Company's Condensed Consolidated Balance Sheets.

Product Warranty

Product Warranty	9 Months Ended
	Sep. 30, 2024
Guarantees and Product Warranties [Abstract]
Product Warranty	PRODUCT WARRANTY The warranty reserve activity for the three and nine months ended September 30, 2024 and 2023, including deferred revenue associated with the Company's extended warranties that have been sold, was as follows (in millions): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Balance at beginning of period $ 774.6 $ 727.2 $ 800.8 $ 640.0 Acquisitions — — 4.1 — Accruals for warranties issued 106.8 123.9 292.7 321.4 Settlements made and deferred revenue recognized (116.2) (94.8) (291.8) (222.7) Reclassified to held for sale (1) (0.3) — (11.9) — Foreign currency translation 27.9 (21.1) (1.1) (3.5) Balance at September 30 $ 792.8 $ 735.2 $ 792.8 $ 735.2 ____________________________________ (1) Reclassification resulting from the Company's classification of the G&P business as held for sale. Refer to Note 3 for additional information. The Company’s agricultural equipment products generally are warranted against defects in material and workmanship for a period of one three The Company recognizes potential recoveries of the costs associated with warranties it provides when the collection is probable. When specifics of the recovery have been agreed upon with the Company’s suppliers through the confirmation of liability for the recovery, the Company records the recovery within “Accounts and notes receivable, net” in the Company's Condensed Consolidated Balance Sheets. Estimates of the amount of warranty claim recoveries to be received from the Company’s suppliers based upon contractual supplier arrangements are recorded within “Other current assets” in the Company's Condensed Consolidated Balance Sheets.

Supplier Finance Programs

Supplier Finance Programs	9 Months Ended
	Sep. 30, 2024
Payables and Accruals [Abstract]
Supplier Finance Programs	SUPPLIER FINANCE PROGRAMS The Company has supplier financing arrangements with certain banks or other intermediaries whereby a bank or intermediary purchases receivables held by the Company’s suppliers. Under the program, suppliers have the option to be paid by the bank or intermediary earlier than the payment due date. When the supplier receives an early payment, they receive discounted amounts, and the Company pays the bank or intermediary the face amount of the invoice on the payment due date. The Company does not reimburse suppliers for any costs incurred for participation in the program. The Company and its suppliers agree on the contractual terms, including prices, quantities and payment terms, regardless of whether the supplier elects to participate in the supplier finance programs. The suppliers’ voluntary inclusion in the supplier financing programs has no bearing on the Company’s payment terms. The Company has no economic interest in a supplier’s decision to participate in the programs, and the Company has no direct financial relationship with the banks or other intermediaries as it relates to the supplier finance programs. As of September 30, 2024, payment terms with the majority of the Company’s suppliers are generally 30 to 180 days, which correspond to the contractual terms, with rates that are based on market rates (such as SOFR) plus a credit spread. There are no assets pledged as security under the programs. As of September 30, 2024 and December 31, 2023, the amounts outstanding that remain unpaid to the banks or other intermediaries totaled $77.7 million and $82.7 million, respectively, and are reflected in “Accounts payable” in the Company’s Condensed Consolidated Balance Sheets.

Indebtedness

Indebtedness	9 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
Indebtedness	INDEBTEDNESS Long-term debt, excluding amounts classified as held for sale, consisted of the following at September 30, 2024 and December 31, 2023 (in millions): September 30, 2024 December 31, 2023 Credit facility, expires 2027 $ 790.0 $ — Term Loan Facility borrowings 500.0 — 5.450% Senior notes due 2027 400.0 — 5.800% Senior notes due 2034 700.0 — 0.800% Senior notes due 2028 670.2 664.0 1.002% EIB Senior term loan due 2025 279.3 276.7 EIB Senior term loan due 2029 279.3 276.7 EIB Senior term loan due 2030 189.9 — Senior term loans due between 2025 and 2028 163.7 162.1 Other long-term debt 1.1 3.1 Debt issuance costs (12.8) (3.1) 3,960.7 1,379.5 Less: Current portion of other long-term debt (1.1) (2.3) 1.002% EIB Senior term loan due 2025 (279.3) — Senior term loans due 2025, net of debt issuance costs (70.3) — Total long-term indebtedness $ 3,610.0 $ 1,377.2 Credit Facility and Term Loan Facility In December 2022, the Company, certain of its subsidiaries and Rabobank, and other named lenders entered into an amendment to its credit facility providing for a $1.25 billion multi-currency unsecured revolving credit facility (“Credit Facility”), which replaced the Company’s former $800.0 million multi-currency unsecured revolving credit facility. The amendment provided an additional $450.0 million in borrowing capacity. An initial borrowing under the credit facility was used to repay and retire a $240.0 million short-term multi-currency revolving credit facility with Rabobank that matured on March 31, 2023. The Credit Facility consists of a $325.0 million United States dollar tranche and a $925.0 million multi-currency tranche for loans denominated in United States dollars, Euros or other currencies to be agreed upon. The Credit Facility matures on December 19, 2027. Interest accrues on amounts outstanding for any borrowings denominated in United States dollars, at the Company’s option, at either (1) the Secured Overnight Financing Rate (“SOFR”) plus 0.1% plus a margin ranging from 0.875% to 1.875% based on the Company’s credit rating, or (2) the base rate, which is the highest of (i) the Prime Rate, (ii) the Federal Funds Effective Rate plus 0.5%, and (iii) Term SOFR for a one-month tenor plus 1.0%, plus a margin ranging from 0.000% to 0.875% based on the Company’s credit rating. Interest accrues on amounts outstanding for any borrowings denominated in Euros at the Euro Interbank Offered Rate (“EURIBOR”) plus a margin ranging from 0.875% to 1.875% based on the Company’s credit rating. As of September 30, 2024, the Company had $790.0 million in outstanding borrowings under the revolving credit facility and had the ability to borrow $459.9 million. Subsequent to the end of the quarter, on November 1, 2024, the Company repaid $150.0 million outstanding under the Credit Facility utilizing proceeds from the sale of the Company’s G&P business. In December 2023, the Company amended the Credit Facility to allow for incremental borrowings in the form of a delayed draw term loan facility in an aggregate principal amount of $250.0 million. In March 2024, the Company further amended the Credit Facility to increase this amount by $250.0 million, for an aggregate amount of $500.0 million (“Term Loan Facility”). The Company drew down the Term Loan Facility on March 28, 2024. Borrowings under the Term Loan Facility bear interest at the same rate and margin as the Credit Facility. The Term Loan Facility matures on December 19, 2027. As of September 30, 2024, the Company had $500.0 million outstanding under the Term Loan Facility. Subsequent to the end of the quarter, on November 1, 2024, the Company repaid the $500.0 million outstanding under the Term Loan Facility utilizing proceeds from the sale of the Company’s G&P business. Refer to Note 3 for further information on the sale of the Company's G&P business. 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 $111.7 million as of September 30, 2024). The credit facility expires on December 31, 2026. Any loans will bear interest at the EURIBOR plus a credit spread. As of September 30, 2024 and December 31, 2023, the Company had no outstanding borrowings under the revolving credit facility and had the ability to borrow €100.0 million (or approximately $111.7 million). 5.450% Senior Notes due 2027 and 5.800% Senior Notes due 2034 On March 21, 2024, the Company issued (i) $400.0 million aggregate principal amount of 5.450% Senior Notes due 2027 (the “2027 Notes”) and (ii) $700.0 million aggregate principal amount of 5.800% Senior Notes due 2034 (the “2034 Notes”, and together with the 2027 Notes, the “Notes”). The Notes are unsecured and guaranteed on a senior unsecured basis by AGCO International Holdings B.V., AGCO International GmbH, Massey Ferguson Corp. and The GSI Group, LLC, direct and indirect subsidiaries of the Company (collectively, the “Guarantors”). The 2027 Notes mature on March 21, 2027, and interest is payable semi-annually, in arrears, at 5.450%. The 2034 Notes mature on March 21, 2034, and interest is payable semi-annually, in arrears, at 5.800%. The Notes contain covenants restricting among other things, the incurrence of certain secured indebtedness. Prior to February 21, 2027, in the case of the 2027 Notes, and December 21, 2033, in the case of the 2034 Notes, the Company may redeem the 2027 Notes and/or the 2034 Notes at its option, in whole or in part, at any time and from time to time, at the applicable “make-whole” redemption price (calculated as set forth in the the Senior Note Indenture and First Supplemental Indenture and applicable series of the Notes). On or after February 21, 2027, in the case of the 2027 Notes, and December 21, 2033, in the case of the 2034 Notes, the Company may redeem the 2027 Notes or the 2034 Notes, as the case may be, in whole or in part, at any time and from time to time, at a redemption price equal to 100% of the principal amount of the Notes being redeemed plus accrued and unpaid interest thereon to, but not including, the redemption date. 0.800% Senior Notes due 2028 On October 6, 2021, the Company issued €600.0 million (or approximately $670.2 million as of September 30, 2024) of senior notes at an issue price of 99.993%. The notes mature on October 6, 2028, and interest is payable annually, in arrears, at 0.800%. The notes contain covenants restricting, among other things, the incurrence of certain secured indebtedness. The senior notes are subject to both optional and mandatory redemption in certain events. 1.002% European Investment Bank ("EIB") Senior Term Loan due 2025 On January 25, 2019, the Company borrowed €250.0 million (or approximately $279.3 million as of September 30, 2024) from the EIB. The loan matures on January 24, 2025. The Company is permitted to prepay the loan before its maturity date. Interest is payable on the loan at 1.002% per annum, payable semi-annually in arrears. EIB Senior Term Loans due 2029 and 2030 On September 29, 2023, the Company entered into a multi-currency Finance Contract with the EIB permitting the Company to borrow up to €250.0 million to fund up to 50% of certain investments in research, development and innovation primarily in Germany, France and Finland during the period from 2023 through 2026. On October 26, 2023, the Company borrowed €250.0 million (or approximately $279.3 million as of September 30, 2024) under the arrangement. The loan matures on October 26, 2029. The loan generally can be prepaid at any time upon the election of the Company and must be prepaid upon the occurrence of certain events. Interest is payable on the term loan at 3.980% per annum, payable semi-annually in arrears. The Company also has to fulfill financial covenants with respect to a net leverage ratio and an interest coverage ratio. On January 25, 2024, the Company entered into an additional multi-currency Finance Contract with the EIB permitting the Company to borrow up to €170.0 million, for which the proceeds will be used in a similar manner as described for the EIB Senior Term Loan due 2029 above. On February 15, 2024, the Company borrowed €170.0 million (or approximately $189.9 million as of September 30, 2024) under the arrangement. The loan matures on February 15, 2030. The loan generally can be prepaid at any time upon the election of the Company and must be prepaid upon the occurrence of certain events. Interest is payable on the term loan at 3.416% per annum, payable semi-annually in arrears. The Company also has to fulfill financial covenants with respect to a net leverage ratio and an interest coverage ratio. Senior Term Loans Due Between 2025 and 2028 In October 2016, the Company borrowed an aggregate amount of €375.0 million through a group of seven related term loan agreements, and in August 2018, the Company borrowed an additional aggregate amount of €338.0 million through a group of another seven related term loan agreements. Of the 2016 term loans, the Company repaid an aggregate amount of €322.5 million in October 2019, October 2021, April 2022 and October 2023. Of the 2018 senior term loans, the Company repaid an aggregate amount of €244.0 million in August 2021, February 2022 and August 2023. In aggregate, as of September 30, 2024, the Company had indebtedness of €146.5 million (or approximately $163.7 million as of September 30, 2024) through a group of four remaining related term loan agreements. The provisions of the term loan agreements are substantially identical, with the exception of interest rate terms and maturities. As of September 30, 2024, for the term loans with a fixed interest rate, interest is payable in arrears on an annual basis, with interest rates ranging from 1.67% to 2.26% and maturity dates between August 2025 and August 2028. For the term loan with a floating interest rate, interest is payable in arrears on a semi-annual basis, with an interest rate based on the EURIBOR plus a margin of 1.10% and a maturity date of August 2025. Bridge Facility On September 28, 2023, the Company entered into a bridge facility commitment letter with Morgan Stanley pursuant to which Morgan Stanley committed to provide a $2.0 billion senior unsecured 364-day bridge facility (the "Bridge Facility"). The availability under the Bridge Facility was reduced to zero by certain permanent financing transactions including the net proceeds from the issuance of the Notes, the Company's entry into the Term Loan Facility and by amounts based on the Company's cash flow, and the Company terminated the Bridge Facility on March 25, 2024. Other Short-Term Borrowings As of September 30, 2024 and December 31, 2023, the Company had short-term borrowings due within one year, excluding the current portion of long-term debt, of approximately $61.6 million and $12.7 million, respectively. Standby Letters of Credit and Similar Instruments The Company has arrangements with various banks to issue standby letters of credit or similar instruments, which guarantee the Company’s obligations for the purchase or sale of certain inventories and for potential claims exposure for insurance coverage. At September 30, 2024 and December 31, 2023, outstanding letters of credit totaled approximately $14.7 million and $14.7 million, respectively.

Restructuring and Business Opti

Restructuring and Business Optimization Expenses	9 Months Ended
	Sep. 30, 2024
Restructuring and Related Activities [Abstract]
Restructuring and Business Optimization Expenses	RESTRUCTURING AND BUSINESS OPTIMIZATION EXPENSES On June 24, 2024, the Company announced a restructuring program (the “Program”) in response to increased weakening demand in the agriculture industry. The initial phase of the Program is focused on further reducing structural costs, streamlining the Company’s workforce and enhancing global efficiencies related to changing the Company’s operating model for certain corporate and back-office functions and better leveraging technology and global centers of excellence. The Company estimates that it will incur charges for one-time termination benefits of approximately $150.0 million to $200.0 million in connection with this phase of the Program, primarily consisting of cash charges related to severance payments, employees benefits and related costs. The Company expects the majority of these cash charges will be incurred in 2024 and the first half of 2025. Additionally, in recent years, the Company announced and initiated several actions to rationalize employee headcount in various manufacturing facilities and administrative offices located in the U.S., Europe, South America, Africa and Asia, in order to reduce costs in response to fluctuating global market demand. Restructuring expenses activity, which relates to severance and other related costs, during the three and nine months ended September 30, 2024 is summarized as follows (in millions): Balance as of December 31, 2023 $ 7.8 First quarter 2024 provision 1.1 First quarter 2024 cash activity (3.4) Foreign currency translation (0.2) Balance as of March 31, 2024 $ 5.3 Second quarter 2024 provision, net of reversals 30.1 Second quarter 2024 cash activity (2.1) Reclassified to held for sale (1) (0.4) Foreign currency translation (0.3) Balance as of June 30, 2024 $ 32.6 Third quarter 2024 provision, net of reversals 5.2 Reclassified to held for sale (1) 0.4 Third quarter 2024 cash activity (8.9) Foreign currency translation 0.6 Balance as of September 30, 2024 $ 29.9 ____________________________________ (1) Reclassification resulting from the Company's classification of the G&P business as held for sale. Refer to Note 3 for additional information. Business optimization expenses primarily related to professional services costs incurred as part of the restructuring program aimed to reduce structural costs, enhance global efficiencies by changing the Company’s operating model for certain corporate and back-office functions. During the three and nine months ended September 30, 2024, the Company recognized approximately $5.3 million of business optimization expenses.

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities	9 Months Ended
	Sep. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activities	DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES Derivative Transactions Designated as Hedging Instruments Cash Flow Hedges Foreign Currency Contracts The Company uses cash flow hedges to minimize the variability in cash flows of assets or liabilities or forecasted transactions caused by fluctuations in foreign currency exchange rates. The changes in the fair values of these cash flow hedges are recorded in accumulated other comprehensive loss and are subsequently reclassified into “Cost of goods sold” during the period the sales and purchases are recognized. These amounts offset the effect of the changes in foreign currency rates on the related sale and purchase transactions. The Company designates certain foreign currency contracts as cash flow hedges of expected future sales and purchases. The total notional value of derivatives that were designated as cash flow hedges was approximately $234.7 million and $262.2 million as of September 30, 2024 and December 31, 2023, respectively. Steel Commodity Contracts The Company designates certain steel commodity contracts as cash flow hedges of expected future purchases of steel. The total notional value of derivatives that were designated as cash flow hedges was approximately $0.0 million and $2.5 million as of September 30, 2024 and December 31, 2023, respectively. Interest Rate Risk The Company entered into treasury rate locks in early March 2024 to fix the interest rate for the 2034 Notes issued on March 21, 2024. The derivative position settled on March 28, 2024 with a cash settlement that offset changes in the benchmark treasury rate between the execution of the treasury rate lock and the debt pricing date for the 2034 Notes. This treasury rate lock was designated as a cash flow hedge and the gain at termination of $8.2 million was recognized in accumulated other comprehensive loss. The amount recognized in accumulated other comprehensive loss is reclassified to interest expense as interest payments are made on the 2034 Notes through the maturity date. The following tables summarize the after-tax impact that changes in the fair value of derivatives designated as cash flow hedges had on accumulated other comprehensive loss and net income (loss) during the three and nine months ended September 30, 2024 and 2023 (in millions): Recognized in Net Income (Loss) Three Months Ended September 30, Gain (Loss) Recognized in Accumulated Other Comprehensive Loss Classification of Gain (Loss) Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Income Total Amount of the Line Item in the Condensed Consolidated Statements of Operations Containing Hedge Gains (Losses) 2024 Foreign currency contracts (1) $ (0.3) Cost of goods sold $ (1.9) $ 1,996.2 Commodity contracts (2) — Cost of goods sold (0.1) $ 1,996.2 Treasury rate locks — Interest expense, net 0.1 $ 33.9 Total $ (0.3) $ (1.9) 2023 Foreign currency contracts $ (1.7) Cost of goods sold $ (2.5) $ 2,521.5 Commodity contracts (0.1) Cost of goods sold 0.2 $ 2,521.5 Total $ (1.8) $ (2.3) Recognized in Net Income (Loss) Nine Months Ended September 30, Gain (Loss) Recognized in Accumulated Classification of Gain (Loss) Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Income Total Amount of the Line Item in the Condensed Consolidated Statements of Operations Containing Hedge Gains (Losses) 2024 Foreign currency contracts (1) $ (5.0) Cost of goods sold $ (5.7) $ 6,564.2 Commodity contracts (2) (0.3) Cost of goods sold (0.3) $ 6,564.2 Treasury rate locks 6.1 Interest expense, net 0.3 $ 65.7 Total $ 0.8 $ (5.7) 2023 Foreign currency contracts $ (8.6) Cost of goods sold $ (5.1) $ 7,817.1 Commodity contracts 0.1 Cost of goods sold 0.1 $ 7,817.1 Total $ (8.5) $ (5.0) ____________________________________ (1) The outstanding contracts as of September 30, 2024 range in maturity through December 2024. (2) As of September 30, 2024, there were no outstanding contracts with future maturity dates. The following table summarizes the activity in accumulated other comprehensive loss related to the derivatives held by the Company during the three months ended September 30, 2024 (in millions): Before-Tax Amount Income Tax Expense (Benefit) After-Tax Amount Accumulated derivative net gains as of June 30, 2024 $ 6.8 $ 2.7 $ 4.1 Net changes in fair value of derivatives (0.1) 0.2 (0.3) Net losses reclassified from accumulated other comprehensive loss into income 2.1 0.2 1.9 Accumulated derivative net gains as of September 30, 2024 $ 8.8 $ 3.1 $ 5.7 The following table summarizes the activity in accumulated other comprehensive loss related to the derivatives held by the Company during the nine months ended September 30, 2024 (in millions): Before-Tax Amount Income Tax Expense (Benefit) After-Tax Amount Accumulated derivative net losses as of December 31, 2023 $ (1.3) $ (0.5) $ (0.8) Net changes in fair value of derivatives 3.9 3.1 0.8 Net losses reclassified from accumulated other comprehensive loss into income 6.2 0.5 5.7 Accumulated derivative net gains as of September 30, 2024 $ 8.8 $ 3.1 $ 5.7 As of September 30, 2024, approximately $3.5 million loss of realized derivatives, before taxes, remain in accumulated other comprehensive loss related to foreign currency contracts associated with inventory that had not yet been sold. Net Investment Hedges The Company uses non-derivative and derivative instruments to hedge a portion of its net investment in foreign operations against adverse movements in exchange rates. For instruments that are designated as hedges of net investments in foreign operations, changes in the fair value of the derivative instruments are recorded in foreign currency translation adjustments, a component of accumulated other comprehensive loss, to offset changes in the value of the net investments being hedged. When the net investment in foreign operations is sold or substantially liquidates, the amounts recorded in accumulated other comprehensive loss are reclassified to earnings. To the extent foreign currency denominated debt is de-designated from a net investment hedge relationship, changes in the value of the foreign currency denominated debt are recorded in earnings through the maturity date. On January 29, 2021, the Company entered into a cross currency swap contract as a hedge of its net investment in foreign operations to offset foreign currency translation gains or losses on the net investment. The cross currency swap has an expiration date of January 29, 2028. At maturity of the cross currency swap contract, the Company was expected to deliver the notional amount of approximately €247.9 million (or approximately $277.0 million as of September 30, 2024) and receive $300.0 million from the counterparties. The Company receives quarterly interest payments from the counterparties based on a fixed interest rate until the maturity of the cross currency swap. On November 4, 2024, the Company's existing cross currency swap contract was terminated and the Company delivered the notional amount of approximately $277.4 million and received $300.0 million from the counterparties. In addition, the Company executed new $600.0 million cross currency swap contracts comprising of $200.0 million tranche for 3 years tenor, $200 million tranche for 5 years tenor and $200.0 million tranche for 7 years tenor. During the nine months ended September 30, 2023, the Company designated €150.0 million of its multi-currency revolving credit facility maturing December 2027 as a hedge of its net investment in foreign operations to offset foreign currency translation gains or losses on the net investment. This portion of the multi-currency revolving credit facility was repaid in December 2023. The Company recognized the change in fair value of the foreign currency denominated debt designated as a net investment hedge, a gain of $1.7 million and $2.7 million, net of tax, in accumulated other comprehensive loss during the three and nine months ended September 30, 2023, respectively. The following table summarizes the notional values of the instrument designated as a net investment hedge (in millions): Notional Amount as of September 30, 2024 December 31, 2023 Cross currency swap contract $ 300.0 $ 300.0 The following table summarizes the changes in the fair value of the cross currency swap contract designated as a net investment hedge during the three and nine months ended September 30, 2024 and 2023 (in millions): Gain (Loss) Recognized in Accumulated Other Comprehensive Loss for the Gain (Loss) Recognized in Accumulated Other Comprehensive Loss for the Nine Months Ended Before-Tax Amount Income Tax Expense (Benefit) After-Tax Amount Before-Tax Amount Income Tax Expense (Benefit) After-Tax Amount September 30, 2024 $ (7.1) $ (1.8) $ (5.3) $ 1.0 $ 0.2 $ 0.8 September 30, 2023 4.1 1.0 3.1 (2.6) (0.7) (1.9) Derivative Transactions Not Designated as Hedging Instruments The Company enters into foreign currency contracts to economically hedge a portion of its receivables and payables on the Company and its subsidiaries’ balance sheets that are denominated in foreign currencies other than the functional currency. These contracts are classified as non-designated derivative instruments. Gains and losses on such contracts are substantially offset by losses and gains on the remeasurement of the underlying asset or liability being hedged and are immediately recognized into earnings. As of September 30, 2024 and December 31, 2023, the Company had outstanding foreign currency contracts with a notional amount of approximately $2,710.6 million and $3,125.1 million, respectively. The following table summarizes the results on net income of derivatives not designated as hedging instruments (in millions): Gain (Loss) Recognized in Net Income for the Three Months Ended Gain (Loss) Recognized in Net Income for the Nine Months Ended Classification of Gain (Loss) September 30, 2024 September 30, 2023 September 30, 2024 September 30, 2023 Foreign currency contracts Other expense, net $ 17.1 $ (9.9) $ (24.7) $ 39.2 The table below sets forth the fair value of derivative instruments as of September 30, 2024 (in millions): Asset Derivatives as of September 30, 2024 Liability Derivatives as of September 30, 2024 Balance Sheet Location Fair Value Balance Sheet Location Fair Value Derivative instruments designated as hedging instruments: Foreign currency contracts Other current assets $ 2.1 Other current liabilities $ 4.6 Cross currency swap contract Other noncurrent assets 21.3 Other noncurrent liabilities — Derivative instruments not designated as hedging instruments: Foreign currency contracts (1) Other current assets 2.4 Other current liabilities 5.9 Total derivative instruments $ 25.8 $ 10.5 __________________________________ (1) The outstanding contracts as of September 30, 2024 range in maturity through November 2024. The table below sets forth the fair value of derivative instruments as of December 31, 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 $ 1.3 Other current liabilities $ 1.2 Cross currency swap contract Other noncurrent assets 20.3 Other noncurrent liabilities — Derivative instruments not designated as hedging instruments: Foreign currency contracts (1) Other current assets 17.1 Other current liabilities 12.8 Total derivative instruments $ 38.7 $ 14.0 ___________________________________ (1) The outstanding contracts as of December 31, 2023 range in maturity through February 2024.

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2024
Equity [Abstract]
Stockholders' Equity	STOCKHOLDERS’ EQUITY The following tables set forth changes in redeemable noncontrolling interests and stockholders’ equity attributed to AGCO Corporation and its subsidiaries and to noncontrolling interests for the three and nine months ended September 30, 2024 and 2023 (in millions): Redeemable Noncontrolling Interests Common Additional Retained Accumulated Other Noncontrolling Total Stockholders’ Balance, June 30, 2024 $ 504.7 $ 0.7 $ 9.2 $ 5,930.6 $ (1,886.7) $ 0.1 $ 4,053.9 Stock compensation — — 3.8 — — — 3.8 Issuance of stock awards — — (0.6) (0.1) — — (0.7) Sale of minority interest — — — — — (0.1) (0.1) Comprehensive income: Net income (loss) (1.1) — — 30.0 — — 30.0 Other comprehensive income: Foreign currency translation adjustments 1.1 — — — 79.9 — 79.9 Defined pension and postretirement benefit plans, net of tax — — — — 2.0 — 2.0 Deferred gains and losses on derivatives, net of tax — — — — 1.6 — 1.6 Payment of dividends to stockholders — — — (21.6) — — (21.6) Redeemable noncontrolling interests measurement period adjustment (Note 2) (167.2) — — — — — — Balance, September 30, 2024 $ 337.5 $ 0.7 $ 12.4 $ 5,938.9 $ (1,803.2) $ — $ 4,148.8 Redeemable Noncontrolling Interests Common Additional Retained Accumulated Other Noncontrolling Total Stockholders’ Balance, December 31, 2023 $ — $ 0.7 $ 4.1 $ 6,360.0 $ (1,708.1) $ 0.1 $ 4,656.8 Stock compensation — — 18.6 — — — 18.6 Issuance of stock awards — — (13.3) (0.5) — — (13.8) SSARs exercised — — (0.1) — — — (0.1) Sale of minority interest — — — — — (0.1) (0.1) Comprehensive income: Net loss (2.9) — — (169.1) — — (169.1) Other comprehensive income (loss): Foreign currency translation adjustments 0.1 — — — (107.2) — (107.2) Defined pension and postretirement benefit plans, net of tax — — — — 5.6 — 5.6 Deferred gains and losses on derivatives, net of tax — — — — 6.5 — 6.5 Payment of dividends to stockholders — — — (251.5) — — (251.5) Equity transaction associated with JCA noncontrolling interest (Note 2) — — 3.1 — — — 3.1 Initial fair value of redeemable noncontrolling interests (Note 2) 332.2 — — — — — — Investment by redeemable noncontrolling interest (Note 2) 8.1 — — — — — — Balance, September 30, 2024 $ 337.5 $ 0.7 $ 12.4 $ 5,938.9 $ (1,803.2) $ — $ 4,148.8 Common Additional Retained Accumulated Other Noncontrolling Total Stockholders’ Balance, June 30, 2023 $ 0.7 $ 36.1 $ 5,786.8 $ (1,684.8) $ 0.2 $ 4,139.0 Stock compensation — 10.2 — — — 10.2 Issuance of stock awards — (0.3) — — — (0.3) SSARs exercised — — — — — — Comprehensive income: Net income — — 280.6 — (0.1) 280.5 Other comprehensive income (loss): Foreign currency translation adjustments — — — (54.5) — (54.5) Defined pension and postretirement benefit plans, net of tax — — — 1.9 — 1.9 Deferred gains and losses on derivatives, net of tax — — — 0.5 — 0.5 Payment of dividends to stockholders — — (21.7) — — (21.7) Balance, September 30, 2023 $ 0.7 $ 46.0 $ 6,045.7 $ (1,736.9) $ 0.1 $ 4,355.6 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 — 37.5 — — — 37.5 Issuance of stock awards — (20.5) — — — (20.5) SSARs exercised — (1.2) — — — (1.2) Comprehensive income: Net income — — 832.4 — (0.1) 832.3 Other comprehensive income (loss): Foreign currency translation adjustments — — — 64.1 — 64.1 Defined pension and postretirement benefit plans, net of tax — — — 5.6 — 5.6 Deferred gains and losses on derivatives, net of tax — — — (3.5) — (3.5) Payment of dividends to stockholders — — (435.8) — — (435.8) Adoption of ASU 2016-13 by finance joint ventures — — (5.5) — — (5.5) Balance, September 30, 2023 $ 0.7 $ 46.0 $ 6,045.7 $ (1,736.9) $ 0.1 $ 4,355.6 The following table sets forth changes in accumulated other comprehensive loss by component, net of tax, attributed to AGCO Corporation and its subsidiaries for the nine months ended September 30, 2024 (in millions): Defined Pension and Postretirement Benefit Plans Deferred Gains and Losses on Derivatives Cumulative Translation Adjustment Total Accumulated other comprehensive loss, December 31, 2023 $ (238.6) $ (0.8) $ (1,468.7) $ (1,708.1) Other comprehensive income (loss) before reclassifications — 0.8 (107.2) (106.4) Net losses reclassified from accumulated other comprehensive loss 5.6 5.7 — 11.3 Other comprehensive income (loss) 5.6 6.5 (107.2) (95.1) Accumulated other comprehensive income (loss), September 30, 2024 $ (233.0) $ 5.7 $ (1,575.9) $ (1,803.2) The following table sets forth reclassification adjustments out of accumulated other comprehensive loss by component attributed to AGCO Corporation and its subsidiaries for the three and nine months ended September 30, 2024 and 2023 (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 September 30, 2024 (1) Three Months Ended September 30, 2023 (1) Derivatives: Net losses on foreign currency contracts $ 2.2 $ 3.0 Cost of goods sold Net losses (gains) on commodity contracts 0.1 (0.2) Cost of goods sold Net gains on treasury rate locks (0.2) — Interest expense, net Reclassification before tax 2.1 2.8 Income tax benefit (0.2) (0.5) Income tax provision Reclassification net of tax $ 1.9 $ 2.3 Defined pension and postretirement benefit plans: Amortization of net actuarial losses $ 2.3 $ 2.2 Other expense, net (2) Amortization of prior service cost 0.4 0.3 Other expense, net (2) Reclassification before tax 2.7 2.5 Income tax benefit (0.7) (0.6) Income tax provision Reclassification net of tax $ 2.0 $ 1.9 Net losses reclassified from accumulated other comprehensive loss $ 3.9 $ 4.2 __________________________________ (1) Losses (Gains) included within the Condensed Consolidated Statements of Operations for the three months ended September 30, 2024 and 2023, respectively. (2) These accumulated other comprehensive loss components are included in the computation of net periodic pension and postretirement benefit cost. See Note 15 for additional information. Amount Reclassified from Accumulated Other Comprehensive Loss Affected Line Item within the Condensed Consolidated Details about Accumulated Other Comprehensive Loss Components Nine Months Ended September 30, 2024 (1) Nine Months Ended September 30, 2023 (1) Derivatives: Net losses on foreign currency contracts $ 6.4 $ 6.5 Cost of goods sold Net losses (gains) on commodity contracts 0.3 (0.1) Cost of goods sold Net gains on treasury rate locks (0.5) — Interest expense, net Reclassification before tax 6.2 6.4 Income tax benefit (0.5) (1.4) Income tax provision Reclassification net of tax $ 5.7 $ 5.0 Defined pension and postretirement benefit plans: Amortization of net actuarial losses $ 6.7 $ 6.4 Other expense, net (2) Amortization of prior service cost 1.2 1.1 Other expense, net (2) Reclassification before tax 7.9 7.5 Income tax benefit (2.3) (1.9) Income tax provision Reclassification net of tax $ 5.6 $ 5.6 Net losses reclassified from accumulated other comprehensive loss $ 11.3 $ 10.6 __________________________________ (1) Losses (Gains) included within the Condensed Consolidated Statements of Operations for the nine months ended September 30, 2024 and 2023, respectively. (2) These accumulated other comprehensive loss components are included in the computation of net periodic pension and postretirement benefit cost. See Note 15 for additional information. Share Repurchase Program In November 2023, the Company entered into an accelerated share repurchase (“ASR”) agreement with a financial institution to repurchase $53.0 million of shares of its common stock. The Company received approximately 371,669 shares associated with this transaction as of December 31, 2023. In January 2024, the Company received an additional 82,883 shares upon final settlement of its November 2023 ASR agreement. All shares received under the ASR agreement were retired upon receipt, and the excess of the purchase price over par value per share was recorded to a combination of “Additional paid-in capital” and “Retained earnings” within the Company’s Condensed Consolidated Balance Sheets. During the three and nine months ended September 30, 2024, the Company did not purchase any shares directly or enter into any accelerated share repurchase agreements. As of September 30, 2024, the remaining amount authorized to be repurchased under board-approved share repurchase authorizations was approximately $57.0 million, which has no expiration date. Dividends On April 25, 2024, the Company's Board of Directors declared a special variable dividend of $2.50 per common share that was paid during the second quarter of 2024. During the three months ended September 30, 2024 and September 30, 2023, the Company declared and paid cash dividends of $0.29 and $0.29 per common share, respectively. During the nine months ended September 30, 2024 and September 30, 2023, the Company declared and paid cash dividends of $3.37 and $5.81 per common share, respectively. On October 24, 2024, the Company's Board of Directors declared a regular quarterly dividend of $0.29 per common share to be paid on December 16, 2024, to all stockholders of record as of the close of business on November 15, 2024.

Net Income (Loss) Per Common Sh

Net Income (Loss) Per Common Share	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
Net Income (Loss) Per Common Share	NET INCOME (LOSS) PER COMMON SHARE Basic net income (loss) per common share is computed by dividing net income (loss) by the weighted average number of common shares outstanding during each period. Diluted net income (loss) per common share assumes the exercise of outstanding stock-settled stock appreciation rights ("SSARs") and the vesting of restricted stock unit awards ("RSUs") using the treasury stock method when there is no other circumstance other than the passage of time under which they would not be issued, and the effects of such assumptions are dilutive. A reconciliation of net income (loss) attributable to AGCO Corporation and subsidiaries and weighted average common shares outstanding for purposes of calculating basic and diluted net income (loss) per share for the three and nine months ended September 30, 2024 and 2023 is as follows (in millions, except per share data): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Basic net income (loss) per share: Net income (loss) attributable to AGCO Corporation and subsidiaries $ 30.0 $ 280.6 $ (169.1) $ 832.4 Weighted average number of common shares outstanding 74.6 74.9 74.6 74.9 Basic net income (loss) per share attributable to AGCO Corporation and subsidiaries $ 0.40 $ 3.75 $ (2.27) $ 11.11 Diluted net income (loss) per share: Net income (loss) attributable to AGCO Corporation and subsidiaries $ 30.0 $ 280.6 $ (169.1) $ 832.4 Weighted average number of common shares outstanding 74.6 74.9 74.6 74.9 Dilutive SSARs and RSUs 0.1 0.1 0.1 0.1 Weighted average number of common shares and common share equivalents outstanding for purposes of computing diluted net income per share 74.7 75.0 74.7 75.0 Diluted net income (loss) per share attributable to AGCO Corporation and subsidiaries $ 0.40 $ 3.74 $ (2.27) $ 11.10

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES At September 30, 2024 and December 31, 2023, the Company had approximately $398.5 million and $351.2 million, respectively, of gross unrecognized income tax benefits, all of which would affect the Company’s effective tax rate if recognized. Gross unrecognized income tax benefits as of September 30, 2024 and December 31, 2023 exclude certain indirect favorable effects that relate to other tax jurisdictions of approximately $125.6 million and $103.9 million, respectively. In addition, the gross unrecognized income tax benefits as of September 30, 2024 and December 31, 2023 exclude certain deposits made in a foreign jurisdiction of approximately $27.1 million, net of $20.0 million refunds received, and $26.9 million, net of $19.7 million refunds received, respectively, associated with an ongoing audit. At September 30, 2024 and December 31, 2023, the Company had approximately $11.7 million and $9.9 million, respectively, of accrued or deferred taxes related to uncertain income tax positions connected with ongoing income tax audits in various jurisdictions that it expects to settle or pay in the next 12 months, reflected in “Other current liabilities” in the Company’s Condensed Consolidated Balance Sheets. At September 30, 2024 and December 31, 2023, the Company had approximately $389.4 million and $344.2 million, respectively, of accrued taxes reflected in “Other noncurrent liabilities” in the Company’s Condensed Consolidated Balance Sheets. The Company accrues interest and penalties related to unrecognized tax benefits in its provision for income taxes. At September 30, 2024 and December 31, 2023, the Company had accrued interest and penalties related to unrecognized tax benefits of approximately $32.8 million and $27.9 million, respectively. Generally, tax years 2019 through 2023 remain open to examination by taxing authorities in the United States and certain other foreign tax jurisdictions. The Company and its subsidiaries are routinely examined by tax authorities in the United States and in various state, local and foreign jurisdictions. As of September 30, 2024, a number of income tax examinations in foreign jurisdictions are ongoing. The Company maintains a valuation allowance to reserve against its net deferred tax assets in certain foreign jurisdictions. A valuation allowance is established when it is more likely than not that some portion or all of the deferred tax assets will not be realized. The Company regularly assesses the likelihood that its deferred tax assets will be recovered from estimated future taxable income and available tax planning strategies and has determined that all adjustments to the valuation allowances have been appropriate. In making this assessment, all available evidence was considered including the current economic climate, as well as reasonable tax planning strategies. The Company believes it is more likely than not that the Company will realize its remaining net deferred tax assets, net of the valuation allowance, in future years. In recent decisions, the Brazilian courts have confirmed a favorable tax ruling regarding the taxability of certain state value added tax incentive benefits, which allowed the Company to record a $31.7 million reduction in the provision for income taxes during the nine months ended September 30, 2024. In 2008 and 2012, as part of routine audits, the Brazilian taxing authorities disallowed deductions relating to the amortization of certain goodwill recognized in connection with a reorganization of the Company’s Brazilian operations and the related transfer of certain assets to the Company’s Brazilian subsidiaries. The amount of the tax disallowance through December 31, 2023 would have been approximately 131.5 million Brazilian reais (or approximately $27.1 million) and subject to significant interest and penalties. In the first quarter of 2023, the Brazilian government issued a “Litigation Zero” tax amnesty program, whereby cases being disputed at the administrative court level of review for a period of more than ten years could be considered for amnesty. Enrollment in the amnesty program was not considered an admission of guilt and allowed for outstanding contested cases to be settled at a significant monetary discount. The Company contested the disallowance and had been historically advised by its legal and tax advisors that its position was allowable under the tax laws of Brazil. After weighing various impacts involved with enrollment, including the avoidance of potential interest, penalties and legal costs, the Company enrolled in the program in the quarter ended March 31, 2023. The Company recorded approximately 182.6 million Brazilian reais (or approximately $34.8 million) within “Income tax provision” net of associated U.S. income tax credits of approximately $8.4 million and completed its installment payments related to its enrollment in the program during the year ended December 31, 2023.

Pension and Postretirement Bene

Pension and Postretirement Benefit Plans	9 Months Ended
	Sep. 30, 2024
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 nine months ended September 30, 2024 and 2023 are set forth below (in millions): Three Months Ended September 30, Nine Months Ended September 30, Pension benefits 2024 2023 2024 2023 Service cost $ 2.0 $ 2.4 $ 6.2 $ 7.2 Interest cost 7.0 7.5 20.9 22.0 Expected return on plan assets (7.7) (7.5) (23.1) (22.1) Amortization of net actuarial losses 2.3 2.2 6.7 6.4 Amortization of prior service cost 0.4 0.3 1.1 1.0 Net periodic pension cost $ 4.0 $ 4.9 $ 11.8 $ 14.5 Three Months Ended September 30, Nine Months Ended September 30, Postretirement benefits 2024 2023 2024 2023 Service cost $ — $ — $ 0.1 $ — Interest cost 0.4 0.4 1.2 1.0 Amortization of prior service cost — — 0.1 0.1 Net periodic postretirement benefit cost $ 0.4 $ 0.4 $ 1.4 $ 1.1 The components of net periodic pension and postretirement benefits cost, other than the service cost component, are included in “Other expense, net” in the Company’s Condensed Consolidated Statements of Operations. During the nine months ended September 30, 2024, the Company made approximately $22.0 million of contributions to its defined pension benefit plans. The Company currently estimates its minimum contributions for 2024 to its defined pension benefit plans will aggregate to approximately $25.4 million. During the nine months ended September 30, 2024, the Company made approximately $1.2 million of contributions to its postretirement health care and life insurance benefit plans. The Company currently estimates that it will make approximately $1.7 million of contributions to its postretirement health care and life insurance benefit plans during 2024.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	9 Months Ended
	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	FAIR VALUE OF FINANCIAL INSTRUMENTS The Company categorizes its assets and liabilities into one of three levels based on the assumptions used in valuing the asset or liability. Estimates of fair value for financial assets and liabilities are based on a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. Observable inputs (highest level) reflect market data obtained from independent sources, while unobservable inputs (lowest level) reflect internally developed market assumptions. In accordance with this guidance, fair value measurements are classified under the following hierarchy: • Level 1 - Quoted prices in active markets for identical assets or liabilities. • Level 2 - Quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; and model-derived valuations in which all significant inputs are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. • Level 3 - Model-derived valuations in which one or more significant inputs are unobservable. The Company categorizes its pension plan assets into one of the three levels of the fair value hierarchy, except for those measured using the net asset value per share (or its equivalent) practical expedient. The Company enters into foreign currency, commodity and interest rate swap contracts. The fair values of the Company’s derivative instruments are determined using discounted cash flow valuation models. The significant inputs used in these models are readily available in public markets, or can be derived from observable market transactions, and therefore have been classified as Level 2. Inputs used in these discounted cash flow valuation models for derivative instruments include the applicable exchange rates, forward rates or interest rates. Such models used for option contracts also use implied volatility. See Note 11 for additional information on the Company’s derivative instruments and hedging activities. Assets and liabilities measured at fair value on a recurring basis as of September 30, 2024 and December 31, 2023 are summarized below (in millions): As of September 30, 2024 Level 1 Level 2 Level 3 Total Derivative assets $ — $ 25.8 $ — $ 25.8 Derivative liabilities — 10.5 — 10.5 As of December 31, 2023 Level 1 Level 2 Level 3 Total Derivative assets $ — $ 38.7 $ — $ 38.7 Derivative liabilities — 14.0 — 14.0 The carrying amounts of long-term debt under the Company’s 1.002% EIB senior term loan due 2025, EIB senior term loans due 2029 and 2030 and senior term loans due between 2025 and 2028 approximate fair value based on the borrowing rates currently available to the Company for loans with similar terms and average maturities. At September 30, 2024, the estimated fair value of the Company's 0.800% senior notes due 2028, based on listed market values, was approximately €544.5 million (or approximately $608.2 million), compared to the carrying value of €600.0 million (or approximately $670.2 million). At September 30, 2024, the estimated fair value of the Company's 5.450% senior notes due 2027, based on listed market values, was approximately $408.2 million, compared to the carrying value of $400.0 million. At September 30, 2024, the estimated fair value of the Company's 5.800% senior notes due 2034, based on listed market values, was approximately $732.1 million, compared to the carrying value of $700.0 million. See Note 9 for additional information on the Company’s long-term debt.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2024
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, including leases classified as held for sale, as of September 30, 2024 and December 31, 2023 were as follows (in millions): September 30, 2024 December 31, 2023 Operating Leases (1) Finance Leases Operating Leases (1) Finance Leases 2024 $ 15.3 $ 0.2 $ 52.8 $ 0.7 2025 55.5 0.7 43.0 0.6 2026 44.4 0.5 32.6 0.4 2027 29.0 0.5 19.7 0.3 2028 21.5 0.3 14.7 0.1 Thereafter 50.1 5.8 46.5 5.8 Total lease payments 215.8 8.0 209.3 7.9 Less: imputed interest (2) (25.3) (2.0) (29.5) (2.0) Present value of leased liabilities $ 190.5 $ 6.0 $ 179.8 $ 5.9 __________________________________ (1) Operating lease payments include options to extend or terminate at the Company's sole discretion, which are included in the determination of lease term when they are reasonably certain to be exercised. (2) Calculated for each lease using either the implicit interest rate or the incremental borrowing rate when the implicit interest rate is not readily available. Off-Balance Sheet Arrangements Guarantees At September 30, 2024, the Company had outstanding guarantees issued to its Argentine finance joint venture, AGCO Capital Argentina S.A. (“AGCO Capital”), of approximately $60.5 million. Such guarantees generally obligate the Company to repay outstanding finance obligations owed to AGCO Capital if end users default on such loans to the extent that, due to non-credit risk, the end users are not able, or not required, to pay their loans, or are required to pay in a different currency than the one agreed in their loan. The Company also has obligations to guarantee indebtedness owed to certain of its finance joint ventures if dealers or end users default on loans. Losses under such guarantees historically have been insignificant, and the guarantees are not material. The Company believes the credit risk associated with these guarantees is not material. In addition, at September 30, 2024, the Company had accrued approximately $13.0 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 $193.1 million. Other The Company sells a majority of its wholesale receivables in North America, Europe and Brazil to its U.S., Canadian, European and Brazilian finance joint ventures. The Company also sells certain accounts receivable under factoring arrangements to financial institutions around the world. The Company accounts for the sale of such receivables as off-balance sheet transactions. Refer to Note 4 for discussion of the Company’s accounts receivable sales agreements. Contingencies During 2017, the Company purchased Precision Planting, which provides precision agricultural technology solutions. In 2018, Deere & Company (“Deere”) filed separate complaints in the U.S. District Court of Delaware against the Company and Precision Planting alleging that certain products of those entities infringed certain patents of Deere. The two complaints subsequently were consolidated into a single case, Case No. 1:18-cv-00827-CFC. In July 2022, the case was tried before a jury, which determined that the Company and Precision Planting had not infringed the Deere patents. Following customary post-trial procedures, the Court entered a judgment in the Company’s favor, and Deere appealed the judgment to the U.S. Court of Appeals for the Federal Circuit. The appeal is fully briefed and is awaiting oral arguments before the court. The Company has an indemnity right under the purchase agreement related to the acquisition of Precision Planting from its previous owner. Pursuant to that right, the previous owner of Precision Planting currently is responsible for the litigation costs associated with the complaint and is obligated to reimburse AGCO for some or all of the damages in the event of an adverse outcome in the litigation. The Company is a party to various other legal claims and actions incidental to its business. The Company believes that none of these claims or actions, either individually or in the aggregate, are material to its business or financial statements as a whole, including its results of operations and financial condition.

Revenue

Revenue	9 Months Ended
	Sep. 30, 2024
Revenue from Contract with Customer [Abstract]
Revenue	REVENUE Contract Liabilities Contract liabilities relate to the following: (1) unrecognized revenues where payment of consideration precedes the Company’s performance with respect to extended warranty and maintenance contracts and where the performance obligation is satisfied over time, (2) unrecognized revenues where payment of consideration precedes the Company’s performance with respect to certain grain storage and protein production systems and where the performance obligation is satisfied over time and (3) unrecognized revenues where payment of consideration precedes the Company’s performance with respect to precision agriculture technology services and where the performance obligation is satisfied over time. Significant changes in the balance of contract liabilities for the three and nine months ended September 30, 2024 and 2023 were as follows (in millions): Three Months Ended September 30, 2024 2023 Balance at beginning of period $ 331.7 $ 274.6 Advance consideration received 50.4 47.7 Revenue recognized during the period for extended warranty contracts, maintenance services and technology services (40.0) (25.1) Revenue recognized during the period related to grain storage and protein production systems (4.0) (6.8) Reclassified to held for sale (1) (0.4) — Foreign currency translation 8.9 (5.8) Balance at September 30 $ 346.6 $ 284.6 Nine Months Ended September 30, 2024 2023 Balance at beginning of period $ 310.7 $ 239.0 Acquisitions 21.0 — Advance consideration received 156.4 164.2 Revenue recognized during the period for extended warranty contracts, maintenance services and technology services (117.2) (76.8) Revenue recognized during the period related to grain storage and protein production systems (16.2) (40.7) Reclassified to held for sale (1) (10.9) — Foreign currency translation 2.8 (1.1) Balance at September 30 $ 346.6 $ 284.6 ____________________________________ (1) Reclassification resulting from the Company's classification of the G&P business as held for sale. Refer to Note 3 for additional information. The contract liabilities are classified as either “Accrued expenses” or “Other current liabilities” and “Other noncurrent liabilities” in the Company’s Condensed Consolidated Balance Sheets. During the three and nine months ended September 30, 2024, the Company recognized approximately $35.7 million and $106.9 million of revenue that was recorded as a contract liability at the beg inning of 2024. During the three and nine months ended September 30, 2023, the Company recognized approximately $26.9 million and $96.9 million of revenue that was recorded as a contract liability at the beginning of 2023. Remaining Performance Obligations The estimated revenues expected to be recognized in the future related to performance obligations that are unsatisfied (or partially unsatisfied) as of September 30, 2024 are $47.3 million for the remainder of 2024, $117.4 million in 2025, $94.0 million in 2026, $49.7 million in 2027 and $28.6 million ther eafter, 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 September 30, 2024 disaggregated by primary geographical markets and major products consisted of the following (in millions): North America (1) South America Europe/Middle East (1) Asia/Pacific/Africa (1) Consolidated Primary geographical markets: United States $ 580.7 $ — $ — $ — $ 580.7 Canada 123.2 — — — 123.2 Brazil — 270.6 — — 270.6 Other South America — 106.7 — — 106.7 Germany — — 294.5 — 294.5 France — — 257.4 — 257.4 United Kingdom and Ireland — — 126.5 — 126.5 Finland and Scandinavia — — 168.1 — 168.1 Italy — — 74.3 — 74.3 Other Europe — — 315.4 — 315.4 Middle East and Algeria — — 61.9 — 61.9 Africa — — — 28.9 28.9 Asia — — — 64.8 64.8 Australia and New Zealand — — — 89.7 89.7 Mexico, Central America and Caribbean 32.3 4.3 — — 36.6 $ 736.1 $ 381.6 $ 1,298.2 $ 183.4 $ 2,599.3 Major products: Tractors $ 238.4 $ 224.0 $ 842.8 $ 99.3 $ 1,404.5 Replacement parts 109.6 40.6 311.1 27.0 488.3 Grain storage and protein production systems 171.7 30.8 32.2 20.8 255.5 Combines, application equipment and other machinery 216.4 86.2 112.0 36.4 451.0 $ 736.1 $ 381.6 $ 1,298.2 $ 183.4 $ 2,599.3 ____________________________________ (1) Rounding may impact the summation of amounts. Net sales for the three months ended September 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 $ 744.6 $ — $ — $ — $ 744.6 Canada 157.3 — — — 157.3 Brazil — 600.3 — — 600.3 Other South America — 115.9 — — 115.9 Germany — — 342.3 — 342.3 France — — 339.2 — 339.2 United Kingdom and Ireland — — 134.3 — 134.3 Finland and Scandinavia — — 181.5 — 181.5 Italy — — 103.4 — 103.4 Other Europe — — 398.2 — 398.2 Middle East and Algeria — — 88.0 — 88.0 Africa — — — 40.9 40.9 Asia — — — 72.7 72.7 Australia and New Zealand — — — 94.1 94.1 Mexico, Central America and Caribbean 39.2 3.6 — — 42.8 $ 941.1 $ 719.8 $ 1,586.9 $ 207.7 $ 3,455.5 Major products: Tractors $ 347.5 $ 418.3 $ 1,126.4 $ 116.9 $ 2,009.1 Replacement parts 107.1 41.8 292.6 26.0 467.5 Grain storage and protein production systems 169.8 33.0 32.9 25.5 261.2 Combines, application equipment and other machinery 316.7 226.7 135.0 39.3 717.7 $ 941.1 $ 719.8 $ 1,586.9 $ 207.7 $ 3,455.5 Net sales for the nine months ended September 30, 2024 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 $ 1,828.7 $ — $ — $ — $ 1,828.7 Canada 375.0 — — — 375.0 Brazil — 756.4 — — 756.4 Other South America — 266.5 — — 266.5 Germany — — 1,355.1 — 1,355.1 France — — 975.6 — 975.6 United Kingdom and Ireland — — 395.2 — 395.2 Finland and Scandinavia — — 532.9 — 532.9 Italy — — 246.4 — 246.4 Other Europe — — 1,089.8 — 1,089.8 Middle East and Algeria — — 335.1 — 335.1 Africa — — — 75.0 75.0 Asia — — — 201.7 201.7 Australia and New Zealand — — — 230.4 230.4 Mexico, Central America and Caribbean 99.8 11.0 — — 110.8 $ 2,303.5 $ 1,033.9 $ 4,930.1 $ 507.1 $ 8,774.6 Major products: Tractors $ 718.0 $ 604.1 $ 3,468.5 $ 274.0 $ 5,064.6 Replacement parts 321.3 119.3 896.0 73.4 1,410.0 Grain storage and protein production systems 510.8 94.2 87.7 64.1 756.8 Combines, application equipment and other machinery 753.4 216.3 477.9 95.6 1,543.2 $ 2,303.5 $ 1,033.9 $ 4,930.1 $ 507.1 $ 8,774.6 Net sales for the nine months ended September 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 $ 2,276.4 $ — $ — $ — $ 2,276.4 Canada 469.9 — — — 469.9 Brazil — 1,537.8 — — 1,537.8 Other South America — 273.0 — — 273.0 Germany — — 1,190.9 — 1,190.9 France — — 1,014.3 — 1,014.3 United Kingdom and Ireland — — 482.1 — 482.1 Finland and Scandinavia — — 587.4 — 587.4 Italy — — 337.2 — 337.2 Other Europe — — 1,355.2 — 1,355.2 Middle East and Algeria — — 314.4 — 314.4 Africa — — — 106.4 106.4 Asia — — — 261.5 261.5 Australia and New Zealand — — — 279.1 279.1 Mexico, Central America and Caribbean 114.7 11.4 — — 126.1 $ 2,861.0 $ 1,822.2 $ 5,281.5 $ 647.0 $ 10,611.7 Major products: Tractors $ 995.0 $ 1,072.9 $ 3,725.4 $ 356.0 $ 6,149.3 Replacement parts 339.1 124.1 874.9 76.8 1,414.9 Grain storage and protein production systems 506.1 112.6 116.7 94.7 830.1 Combines, application equipment and other machinery 1,020.8 512.6 564.5 119.5 2,217.4 $ 2,861.0 $ 1,822.2 $ 5,281.5 $ 647.0 $ 10,611.7

Segment Reporting

Segment Reporting	9 Months Ended
	Sep. 30, 2024
Segment Reporting [Abstract]
Segment Reporting	SEGMENT REPORTING The Company has four operating segments that are also its reportable segments, which consist of the North America, South America, Europe/Middle East and Asia/Pacific/Africa regions. The Company’s reportable segments are geography based and distribute a full range of agricultural machinery and precision agriculture technology. The Company evaluates segment performance primarily based on income from operations. Sales for each segment are based on the location of the third-party customer. The Company’s selling, general and administrative expenses and engineering expenses are generally charged to each segment based on the region and division where the expenses are incurred. As a result, the components of income from operations for one segment may not be comparable to another segment. Segment results for the three and nine months ended September 30, 2024 and 2023 and assets as of September 30, 2024 and December 31, 2023 based on the Company’s reportable segments are as follows (in millions): Three Months Ended September 30, North America South America Europe/Middle East Asia/Pacific/Africa Total Segments 2024 Net sales $ 736.1 $ 381.6 $ 1,298.2 $ 183.4 $ 2,599.3 Income from operations 52.7 45.1 83.0 7.0 187.8 Depreciation 15.6 8.5 33.2 3.6 60.9 Capital expenditures 10.6 9.5 65.3 0.9 86.3 2023 Net sales $ 941.1 $ 719.8 $ 1,586.9 $ 207.7 $ 3,455.5 Income from operations 139.8 149.8 199.3 19.2 508.1 Depreciation 16.2 9.6 28.5 4.5 58.8 Capital expenditures 25.0 15.4 79.5 0.8 120.7 Nine Months Ended September 30, North America South America Europe/Middle East Asia/Pacific/Africa Total Segments 2024 Net sales $ 2,303.5 $ 1,033.9 $ 4,930.1 $ 507.1 $ 8,774.6 Income from operations 171.8 73.9 654.4 27.4 927.5 Depreciation 50.2 27.5 99.3 12.4 189.4 Capital expenditures 46.5 33.0 196.9 2.9 279.3 2023 Net sales $ 2,861.0 $ 1,822.2 $ 5,281.5 $ 647.0 $ 10,611.7 Income from operations 378.8 370.7 733.9 58.2 1,541.6 Depreciation 46.3 26.3 83.0 13.3 168.9 Capital expenditures 96.7 49.2 209.3 2.5 357.7 Assets As of September 30, 2024 $ 1,958.5 $ 1,261.5 $ 3,336.7 $ 894.0 $ 7,450.7 As of December 31, 2023 1,883.2 1,394.9 3,017.4 875.2 7,170.7 A reconciliation from the segment information to the consolidated balances for income from operations and total assets is set forth below (in millions): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Segment income from operations $ 187.8 $ 508.1 $ 927.5 $ 1,541.6 Impairment charges (0.2) — (5.3) — Loss on business held for sale (3.2) — (497.8) — Corporate expenses (45.3) (59.5) (161.2) (146.6) Amortization of intangibles (8.8) (14.4) (54.4) (43.3) Stock compensation expense (5.0) (9.8) (20.4) (36.1) Restructuring and business optimization expenses (10.5) (0.8) (41.7) (8.3) Consolidated income from operations $ 114.8 $ 423.6 $ 146.7 $ 1,307.3 September 30, 2024 December 31, 2023 Segment assets $ 7,450.7 $ 7,170.7 Cash and cash equivalents 622.6 595.5 Investments in affiliates 551.5 512.7 Deferred tax assets, other current and noncurrent assets 1,547.3 1,500.1 Assets held for sale (1) 387.5 — Intangible assets, net 588.8 308.8 Goodwill 2,358.4 1,333.4 Consolidated total assets $ 13,506.8 $ 11,421.2 ____________________________________ (1) Represents non-segment assets related to the Company's G&P business, which the Company has classified as held for sale since June 30, 2024. Segment assets include the G&P assets held for sale. Refer to Note 3 for additional information.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Net income (loss) attributable to AGCO Corporation and subsidiaries	$ 30	$ 280.6	$ (169.1)	$ 832.4

Insider Trading Arrangements

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

Basis of Presentation (Policies

Basis of Presentation (Policies)	9 Months Ended
	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
New Accounting Pronouncements to be Adopted	New Accounting Pronouncements to be Adopted In November 2023, the FASB issued ASU 2023-07, "Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures," which expands annual and interim disclosure requirements and requires entities to disclose its significant segment expense categories and amounts for each reportable segment. The ASU is effective for public entities for fiscal years beginning after December 15, 2023, and interim periods in fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the potential effect that the updated standard will have on its financial statement disclosures. In December 2023, the FASB issued ASU 2023-09, "Income Taxes (Topic 740): Improvements to Income Tax Disclosures". The standard requires disaggregated information about a reporting entity’s effective tax rate reconciliation as well as information on income taxes paid. The requirements will be effective for annual periods beginning after December 15, 2024. The guidance will be applied on a prospective basis with the option to apply the standard retrospectively. Early adoption is permitted. The Company is currently evaluating the potential effect that the updated standard will have on its financial statement disclosures.

Acquisitions (Tables)

Acquisitions (Tables)	9 Months Ended
	Sep. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Schedule of Purchase Consideration	The estimated purchase consideration transferred consisted of the following (in millions): Purchase Consideration Total cash consideration for OneAg $ 1,954.0 Estimated working capital and other adjustments (45.6) Equity transaction associated with JCA noncontrolling interest (a) 3.1 Total purchase consideration $ 1,911.5 (a) Equity transaction associated with JCA noncontrolling interest The transfer of the 15% interest in AGCO's JCA business is accounted for as an equity transaction. The adjustment to additional paid-in-capital represents the excess of the fair value of the JCA business transferred over its historical carrying amount. The fair value of the JCA business was determined using a discounted cash flow model.
Schedule of Assets Acquired, Liabilities Assumed and Noncontrolling interests	The preliminary fair values of the assets acquired, liabilities assumed and noncontrolling interests as of the acquisition date are presented in the following table (in millions): As of April 1, 2024 Cash $ 6.3 Accounts receivable 12.3 Inventories 58.9 Other current assets 3.2 Property, plant and equipment 21.6 Deferred tax assets 0.1 Right-of-use lease assets 2.4 Other assets (non-current) 0.1 Intangible assets 450.1 Goodwill 1,731.3 Total assets acquired $ 2,286.3 Accounts payable $ 2.1 Accrued expenses 11.3 Other current liabilities 14.0 Operating lease liabilities 1.6 Deferred tax liabilities 4.0 Other noncurrent liabilities 9.6 Total liabilities assumed $ 42.6 Redeemable noncontrolling interests (b) $ 332.2 Net assets acquired $ 1,911.5 (b) Redeemable noncontrolling interests Trimble has a put option to sell its noncontrolling interests to the Company, and the Company has a call option to redeem Trimble's noncontrolling interests. The first exercisable date of both the put and call options is April 1, 2027. The put and call options prices are based on multiples of EBITDA, subject to the terms of the Agreement. We estimated the preliminary fair value of the put and call options using a Monte Carlo simulation along with a Black Scholes model assuming an exercise date of three years from the close of the transaction, the first allowable exercise date. We evaluated the put and call options for the redeemable noncontrolling interests under ASC 480, Distinguishing Liabilities from Equity, and classified the redeemable noncontrolling interests as mezzanine equity based on its redemption features. The amount of the net income or loss attributable to the redeemable noncontrolling interests is recorded in “Net loss attributable to noncontrolling interests” within the Company's Condensed Consolidated Statements of Operations. To the extent the redemption value exceeds the initial fair value recorded, the Company will recognize the entire change in the redemption amount each reporting period in retained earnings.
Schedule of Acquired Intangible Assets	The acquired identifiable intangible assets of OneAg as of the date of the acquisition are summarized in the following table (in millions): Fair Value Useful Life (1) Developed Technology $ 359.3 7 -15 years Customer Relationships 39.9 20 years Tradename 6.1 5 years Favorable contracts 44.8 2 - 7 years $ 450.1 ____________________________________ (1) Based on available information and certain assumptions that we believe are reasonable.
Schedule of Pro Forma Information	The following unaudited pro forma financial information presents the consolidated results of operations as if the OneAg acquisition had occurred on January 1, 2023. OneAg's pre-acquisition results have been added to the Company's historical results. The pro forma results (in millions) contained in the table below include adjustments for (i) the elimination of sales between the Company and OneAg, (ii) amortization of acquired intangible assets (iii) interest expense and amortization of debt issuance costs related to borrowings under the Senior Notes due 2027 and 2034 and term loan facility and (iv) transaction-related costs as if these had been incurred on January 1, 2023 for the periods ending September 30, 2023 and 2024, respectively. Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Unaudited Consolidated Pro Forma Results Net sales $ 2,599.3 $ 3,568.1 $ 8,858.0 $ 10,987.6 Net income (loss) attributable to AGCO Corporation and subsidiaries 30.6 277.8 (165.5) 799.5

Business Held for Sale (Tables)

Business Held for Sale (Tables)	9 Months Ended
	Sep. 30, 2024
Discontinued Operations and Disposal Groups [Abstract]
Schedule of Assets and Liabilities Classified as Held for Sale	The major categories of assets and liabilities of the business classified as held for sale as of September 30, 2024 were as follows: September 30, 2024 Current assets held for sale: Cash and cash equivalents $ 20.0 Accounts and notes receivable, net 191.6 Inventories, net 180.2 Other current assets 25.2 Total current assets held for sale 417.0 Property, plant and equipment, net 101.9 Right-of-use lease assets 14.8 Other assets 9.7 Intangible assets, net 114.6 Goodwill 218.0 Total assets held for sale $ 876.0 Current liabilities held for sale: Accounts payable $ 92.5 Accrued expenses 111.2 Other current liabilities 55.9 Total current liabilities held for sale 259.6 Deferred tax liabilities 11.1 Operating lease liabilities 10.5 Other noncurrent liabilities 5.3 Total liabilities held for sale $ 286.5 Disposal group, net $ 589.5

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	Changes in the carrying amount of goodwill during the nine months ended September 30, 2024 are summarized as follows (in millions): North America South America Europe/Middle East Asia/Pacific/Africa Unallocated (1) Consolidated Balance as of December 31, 2023 $ 668.2 $ 93.5 $ 458.5 $ 113.2 $ — $ 1,333.4 Acquisitions — — 8.7 — 1,731.3 1,740.0 Reclassified to held for sale (2) (524.1) (13.1) (62.1) (116.5) — (715.8) Foreign currency translation (0.8) (10.2) 5.0 3.3 3.5 0.8 Balance as of September 30, 2024 $ 143.3 $ 70.2 $ 410.1 $ — $ 1,734.8 $ 2,358.4 ____________________________________ (1) Unallocated goodwill relates to the PTx Trimble joint venture transaction. Refer to Note 2 for additional information. (2) Reclassification resulting from the Company's classification of the G&P business as held for sale, $497.8 million is included within “Loss on business held for sale” in the Company’s Condensed Consolidated Statements of Operations and $218.0 million is included within “Assets held for sale” in the Company’s Condensed Consolidated Balance Sheets. Refer to Note 3 for additional information.
Schedule of Acquired Finite-Lived Intangible Assets	Changes in the carrying amount of acquired intangible assets during the nine months ended September 30, 2024 are summarized as follows (in millions): Gross carrying amounts: Trademarks and Trade Names Customer Relationships Patents and Technology Other Total Balance as of December 31, 2023 $ 194.3 $ 580.7 $ 148.2 $ 6.3 $ 929.5 Acquisitions 6.1 39.9 359.3 44.8 450.1 Reclassified to held for sale (1) (124.6) (420.6) (60.0) — (605.2) Foreign currency translation (0.4) (3.6) (2.2) 0.1 (6.1) Balance as of September 30, 2024 $ 75.4 $ 196.4 $ 445.3 $ 51.2 $ 768.3 Accumulated amortization: Trademarks and Trade Names Customer Relationships Patents and Technology Other Total Balance as of December 31, 2023 $ 114.5 $ 483.4 $ 113.3 $ 1.7 $ 712.9 Amortization expense 6.4 20.8 19.9 7.3 54.4 Reclassified to held for sale (1) (75.0) (370.2) (50.0) — (495.2) Foreign currency translation (0.8) (3.2) (1.7) — (5.7) Balance as of September 30, 2024 $ 45.1 $ 130.8 $ 81.5 $ 9.0 $ 266.4 (1) Reclassification resulting from the Company's classification of the G&P business as held for sale. Refer to Note 3 for additional information.
Schedule of Acquired Indefinite-Lived Intangible Assets	Indefinite-lived intangible assets: Trademarks and Trade Names Balance as of December 31, 2023 $ 85.9 Foreign currency translation 0.3 Balance as of September 30, 2024 $ 86.2

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 30, 2024
Inventory Disclosure [Abstract]
Schedule of Inventory	Inventories, net at September 30, 2024 and December 31, 2023, excluding amounts classified as held for sale, were as follows (in millions): September 30, 2024 December 31, 2023 Finished goods $ 1,604.6 $ 1,460.7 Repair and replacement parts 813.5 823.1 Work in process 260.3 255.2 Raw materials 764.8 901.7 Inventories, net $ 3,443.2 $ 3,440.7

Product Warranty (Tables)

Product Warranty (Tables)	9 Months Ended
	Sep. 30, 2024
Guarantees and Product Warranties [Abstract]
Schedule of Warranty Reserve Activity	The warranty reserve activity for the three and nine months ended September 30, 2024 and 2023, including deferred revenue associated with the Company's extended warranties that have been sold, was as follows (in millions): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Balance at beginning of period $ 774.6 $ 727.2 $ 800.8 $ 640.0 Acquisitions — — 4.1 — Accruals for warranties issued 106.8 123.9 292.7 321.4 Settlements made and deferred revenue recognized (116.2) (94.8) (291.8) (222.7) Reclassified to held for sale (1) (0.3) — (11.9) — Foreign currency translation 27.9 (21.1) (1.1) (3.5) Balance at September 30 $ 792.8 $ 735.2 $ 792.8 $ 735.2 ____________________________________ (1) Reclassification resulting from the Company's classification of the G&P business as held for sale. Refer to Note 3 for additional information.

Indebtedness (Tables)

Indebtedness (Tables)	9 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
Schedule of Debt	Long-term debt, excluding amounts classified as held for sale, consisted of the following at September 30, 2024 and December 31, 2023 (in millions): September 30, 2024 December 31, 2023 Credit facility, expires 2027 $ 790.0 $ — Term Loan Facility borrowings 500.0 — 5.450% Senior notes due 2027 400.0 — 5.800% Senior notes due 2034 700.0 — 0.800% Senior notes due 2028 670.2 664.0 1.002% EIB Senior term loan due 2025 279.3 276.7 EIB Senior term loan due 2029 279.3 276.7 EIB Senior term loan due 2030 189.9 — Senior term loans due between 2025 and 2028 163.7 162.1 Other long-term debt 1.1 3.1 Debt issuance costs (12.8) (3.1) 3,960.7 1,379.5 Less: Current portion of other long-term debt (1.1) (2.3) 1.002% EIB Senior term loan due 2025 (279.3) — Senior term loans due 2025, net of debt issuance costs (70.3) — Total long-term indebtedness $ 3,610.0 $ 1,377.2

Restructuring and Business Op_2

Restructuring and Business Optimization Expenses (Tables)	9 Months Ended
	Sep. 30, 2024
Restructuring and Related Activities [Abstract]
Schedule of Restructuring Reserve	Restructuring expenses activity, which relates to severance and other related costs, during the three and nine months ended September 30, 2024 is summarized as follows (in millions): Balance as of December 31, 2023 $ 7.8 First quarter 2024 provision 1.1 First quarter 2024 cash activity (3.4) Foreign currency translation (0.2) Balance as of March 31, 2024 $ 5.3 Second quarter 2024 provision, net of reversals 30.1 Second quarter 2024 cash activity (2.1) Reclassified to held for sale (1) (0.4) Foreign currency translation (0.3) Balance as of June 30, 2024 $ 32.6 Third quarter 2024 provision, net of reversals 5.2 Reclassified to held for sale (1) 0.4 Third quarter 2024 cash activity (8.9) Foreign currency translation 0.6 Balance as of September 30, 2024 $ 29.9 ____________________________________ (1) Reclassification resulting from the Company's classification of the G&P business as held for sale. Refer to Note 3 for additional information.

Derivative Instruments and He_2

Derivative Instruments and Hedging Activities (Tables)	9 Months Ended
	Sep. 30, 2024
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 (loss) during the three and nine months ended September 30, 2024 and 2023 (in millions): Recognized in Net Income (Loss) Three Months Ended September 30, Gain (Loss) Recognized in Accumulated Other Comprehensive Loss Classification of Gain (Loss) Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Income Total Amount of the Line Item in the Condensed Consolidated Statements of Operations Containing Hedge Gains (Losses) 2024 Foreign currency contracts (1) $ (0.3) Cost of goods sold $ (1.9) $ 1,996.2 Commodity contracts (2) — Cost of goods sold (0.1) $ 1,996.2 Treasury rate locks — Interest expense, net 0.1 $ 33.9 Total $ (0.3) $ (1.9) 2023 Foreign currency contracts $ (1.7) Cost of goods sold $ (2.5) $ 2,521.5 Commodity contracts (0.1) Cost of goods sold 0.2 $ 2,521.5 Total $ (1.8) $ (2.3) Recognized in Net Income (Loss) Nine Months Ended September 30, Gain (Loss) Recognized in Accumulated Classification of Gain (Loss) Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Income Total Amount of the Line Item in the Condensed Consolidated Statements of Operations Containing Hedge Gains (Losses) 2024 Foreign currency contracts (1) $ (5.0) Cost of goods sold $ (5.7) $ 6,564.2 Commodity contracts (2) (0.3) Cost of goods sold (0.3) $ 6,564.2 Treasury rate locks 6.1 Interest expense, net 0.3 $ 65.7 Total $ 0.8 $ (5.7) 2023 Foreign currency contracts $ (8.6) Cost of goods sold $ (5.1) $ 7,817.1 Commodity contracts 0.1 Cost of goods sold 0.1 $ 7,817.1 Total $ (8.5) $ (5.0) ____________________________________ (1) The outstanding contracts as of September 30, 2024 range in maturity through December 2024. (2) As of September 30, 2024, there were no outstanding contracts with future maturity dates. The following table summarizes the activity in accumulated other comprehensive loss related to the derivatives held by the Company during the three months ended September 30, 2024 (in millions): Before-Tax Amount Income Tax Expense (Benefit) After-Tax Amount Accumulated derivative net gains as of June 30, 2024 $ 6.8 $ 2.7 $ 4.1 Net changes in fair value of derivatives (0.1) 0.2 (0.3) Net losses reclassified from accumulated other comprehensive loss into income 2.1 0.2 1.9 Accumulated derivative net gains as of September 30, 2024 $ 8.8 $ 3.1 $ 5.7 The following table summarizes the activity in accumulated other comprehensive loss related to the derivatives held by the Company during the nine months ended September 30, 2024 (in millions): Before-Tax Amount Income Tax Expense (Benefit) After-Tax Amount Accumulated derivative net losses as of December 31, 2023 $ (1.3) $ (0.5) $ (0.8) Net changes in fair value of derivatives 3.9 3.1 0.8 Net losses reclassified from accumulated other comprehensive loss into income 6.2 0.5 5.7 Accumulated derivative net gains as of September 30, 2024 $ 8.8 $ 3.1 $ 5.7
Schedule of Derivative Instruments	The following table summarizes the notional values of the instrument designated as a net investment hedge (in millions): Notional Amount as of September 30, 2024 December 31, 2023 Cross currency swap contract $ 300.0 $ 300.0 The following table summarizes the changes in the fair value of the cross currency swap contract designated as a net investment hedge during the three and nine months ended September 30, 2024 and 2023 (in millions): Gain (Loss) Recognized in Accumulated Other Comprehensive Loss for the Gain (Loss) Recognized in Accumulated Other Comprehensive Loss for the Nine Months Ended Before-Tax Amount Income Tax Expense (Benefit) After-Tax Amount Before-Tax Amount Income Tax Expense (Benefit) After-Tax Amount September 30, 2024 $ (7.1) $ (1.8) $ (5.3) $ 1.0 $ 0.2 $ 0.8 September 30, 2023 4.1 1.0 3.1 (2.6) (0.7) (1.9)
Schedule of Derivatives Not Designated as Hedging Instrument	The following table summarizes the results on net income of derivatives not designated as hedging instruments (in millions): Gain (Loss) Recognized in Net Income for the Three Months Ended Gain (Loss) Recognized in Net Income for the Nine Months Ended Classification of Gain (Loss) September 30, 2024 September 30, 2023 September 30, 2024 September 30, 2023 Foreign currency contracts Other expense, net $ 17.1 $ (9.9) $ (24.7) $ 39.2
Fair Value of Derivative Instruments	The table below sets forth the fair value of derivative instruments as of September 30, 2024 (in millions): Asset Derivatives as of September 30, 2024 Liability Derivatives as of September 30, 2024 Balance Sheet Location Fair Value Balance Sheet Location Fair Value Derivative instruments designated as hedging instruments: Foreign currency contracts Other current assets $ 2.1 Other current liabilities $ 4.6 Cross currency swap contract Other noncurrent assets 21.3 Other noncurrent liabilities — Derivative instruments not designated as hedging instruments: Foreign currency contracts (1) Other current assets 2.4 Other current liabilities 5.9 Total derivative instruments $ 25.8 $ 10.5 __________________________________ (1) The outstanding contracts as of September 30, 2024 range in maturity through November 2024. The table below sets forth the fair value of derivative instruments as of December 31, 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 $ 1.3 Other current liabilities $ 1.2 Cross currency swap contract Other noncurrent assets 20.3 Other noncurrent liabilities — Derivative instruments not designated as hedging instruments: Foreign currency contracts (1) Other current assets 17.1 Other current liabilities 12.8 Total derivative instruments $ 38.7 $ 14.0 ___________________________________ (1) The outstanding contracts as of December 31, 2023 range in maturity through February 2024.

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2024
Equity [Abstract]
Schedule of Stockholders Equity	The following tables set forth changes in redeemable noncontrolling interests and stockholders’ equity attributed to AGCO Corporation and its subsidiaries and to noncontrolling interests for the three and nine months ended September 30, 2024 and 2023 (in millions): Redeemable Noncontrolling Interests Common Additional Retained Accumulated Other Noncontrolling Total Stockholders’ Balance, June 30, 2024 $ 504.7 $ 0.7 $ 9.2 $ 5,930.6 $ (1,886.7) $ 0.1 $ 4,053.9 Stock compensation — — 3.8 — — — 3.8 Issuance of stock awards — — (0.6) (0.1) — — (0.7) Sale of minority interest — — — — — (0.1) (0.1) Comprehensive income: Net income (loss) (1.1) — — 30.0 — — 30.0 Other comprehensive income: Foreign currency translation adjustments 1.1 — — — 79.9 — 79.9 Defined pension and postretirement benefit plans, net of tax — — — — 2.0 — 2.0 Deferred gains and losses on derivatives, net of tax — — — — 1.6 — 1.6 Payment of dividends to stockholders — — — (21.6) — — (21.6) Redeemable noncontrolling interests measurement period adjustment (Note 2) (167.2) — — — — — — Balance, September 30, 2024 $ 337.5 $ 0.7 $ 12.4 $ 5,938.9 $ (1,803.2) $ — $ 4,148.8 Redeemable Noncontrolling Interests Common Additional Retained Accumulated Other Noncontrolling Total Stockholders’ Balance, December 31, 2023 $ — $ 0.7 $ 4.1 $ 6,360.0 $ (1,708.1) $ 0.1 $ 4,656.8 Stock compensation — — 18.6 — — — 18.6 Issuance of stock awards — — (13.3) (0.5) — — (13.8) SSARs exercised — — (0.1) — — — (0.1) Sale of minority interest — — — — — (0.1) (0.1) Comprehensive income: Net loss (2.9) — — (169.1) — — (169.1) Other comprehensive income (loss): Foreign currency translation adjustments 0.1 — — — (107.2) — (107.2) Defined pension and postretirement benefit plans, net of tax — — — — 5.6 — 5.6 Deferred gains and losses on derivatives, net of tax — — — — 6.5 — 6.5 Payment of dividends to stockholders — — — (251.5) — — (251.5) Equity transaction associated with JCA noncontrolling interest (Note 2) — — 3.1 — — — 3.1 Initial fair value of redeemable noncontrolling interests (Note 2) 332.2 — — — — — — Investment by redeemable noncontrolling interest (Note 2) 8.1 — — — — — — Balance, September 30, 2024 $ 337.5 $ 0.7 $ 12.4 $ 5,938.9 $ (1,803.2) $ — $ 4,148.8 Common Additional Retained Accumulated Other Noncontrolling Total Stockholders’ Balance, June 30, 2023 $ 0.7 $ 36.1 $ 5,786.8 $ (1,684.8) $ 0.2 $ 4,139.0 Stock compensation — 10.2 — — — 10.2 Issuance of stock awards — (0.3) — — — (0.3) SSARs exercised — — — — — — Comprehensive income: Net income — — 280.6 — (0.1) 280.5 Other comprehensive income (loss): Foreign currency translation adjustments — — — (54.5) — (54.5) Defined pension and postretirement benefit plans, net of tax — — — 1.9 — 1.9 Deferred gains and losses on derivatives, net of tax — — — 0.5 — 0.5 Payment of dividends to stockholders — — (21.7) — — (21.7) Balance, September 30, 2023 $ 0.7 $ 46.0 $ 6,045.7 $ (1,736.9) $ 0.1 $ 4,355.6 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 — 37.5 — — — 37.5 Issuance of stock awards — (20.5) — — — (20.5) SSARs exercised — (1.2) — — — (1.2) Comprehensive income: Net income — — 832.4 — (0.1) 832.3 Other comprehensive income (loss): Foreign currency translation adjustments — — — 64.1 — 64.1 Defined pension and postretirement benefit plans, net of tax — — — 5.6 — 5.6 Deferred gains and losses on derivatives, net of tax — — — (3.5) — (3.5) Payment of dividends to stockholders — — (435.8) — — (435.8) Adoption of ASU 2016-13 by finance joint ventures — — (5.5) — — (5.5) Balance, September 30, 2023 $ 0.7 $ 46.0 $ 6,045.7 $ (1,736.9) $ 0.1 $ 4,355.6
Summary of Accumulated Other Comprehensive Income (Loss)	The following table sets forth changes in accumulated other comprehensive loss by component, net of tax, attributed to AGCO Corporation and its subsidiaries for the nine months ended September 30, 2024 (in millions): Defined Pension and Postretirement Benefit Plans Deferred Gains and Losses on Derivatives Cumulative Translation Adjustment Total Accumulated other comprehensive loss, December 31, 2023 $ (238.6) $ (0.8) $ (1,468.7) $ (1,708.1) Other comprehensive income (loss) before reclassifications — 0.8 (107.2) (106.4) Net losses reclassified from accumulated other comprehensive loss 5.6 5.7 — 11.3 Other comprehensive income (loss) 5.6 6.5 (107.2) (95.1) Accumulated other comprehensive income (loss), September 30, 2024 $ (233.0) $ 5.7 $ (1,575.9) $ (1,803.2)
Reclassifications Out of Accumulated Other Comprehensive Income (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 nine months ended September 30, 2024 and 2023 (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 September 30, 2024 (1) Three Months Ended September 30, 2023 (1) Derivatives: Net losses on foreign currency contracts $ 2.2 $ 3.0 Cost of goods sold Net losses (gains) on commodity contracts 0.1 (0.2) Cost of goods sold Net gains on treasury rate locks (0.2) — Interest expense, net Reclassification before tax 2.1 2.8 Income tax benefit (0.2) (0.5) Income tax provision Reclassification net of tax $ 1.9 $ 2.3 Defined pension and postretirement benefit plans: Amortization of net actuarial losses $ 2.3 $ 2.2 Other expense, net (2) Amortization of prior service cost 0.4 0.3 Other expense, net (2) Reclassification before tax 2.7 2.5 Income tax benefit (0.7) (0.6) Income tax provision Reclassification net of tax $ 2.0 $ 1.9 Net losses reclassified from accumulated other comprehensive loss $ 3.9 $ 4.2 __________________________________ (1) Losses (Gains) included within the Condensed Consolidated Statements of Operations for the three months ended September 30, 2024 and 2023, respectively. (2) These accumulated other comprehensive loss components are included in the computation of net periodic pension and postretirement benefit cost. See Note 15 for additional information. Amount Reclassified from Accumulated Other Comprehensive Loss Affected Line Item within the Condensed Consolidated Details about Accumulated Other Comprehensive Loss Components Nine Months Ended September 30, 2024 (1) Nine Months Ended September 30, 2023 (1) Derivatives: Net losses on foreign currency contracts $ 6.4 $ 6.5 Cost of goods sold Net losses (gains) on commodity contracts 0.3 (0.1) Cost of goods sold Net gains on treasury rate locks (0.5) — Interest expense, net Reclassification before tax 6.2 6.4 Income tax benefit (0.5) (1.4) Income tax provision Reclassification net of tax $ 5.7 $ 5.0 Defined pension and postretirement benefit plans: Amortization of net actuarial losses $ 6.7 $ 6.4 Other expense, net (2) Amortization of prior service cost 1.2 1.1 Other expense, net (2) Reclassification before tax 7.9 7.5 Income tax benefit (2.3) (1.9) Income tax provision Reclassification net of tax $ 5.6 $ 5.6 Net losses reclassified from accumulated other comprehensive loss $ 11.3 $ 10.6 __________________________________ (1) Losses (Gains) included within the Condensed Consolidated Statements of Operations for the nine months ended September 30, 2024 and 2023, respectively. (2) These accumulated other comprehensive loss components are included in the computation of net periodic pension and postretirement benefit cost. See Note 15 for additional information.

Net Income (Loss) Per Common _2

Net Income (Loss) Per Common Share (Tables)	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
Calculation of Basic and Diluted Earnings Per Share	A reconciliation of net income (loss) attributable to AGCO Corporation and subsidiaries and weighted average common shares outstanding for purposes of calculating basic and diluted net income (loss) per share for the three and nine months ended September 30, 2024 and 2023 is as follows (in millions, except per share data): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Basic net income (loss) per share: Net income (loss) attributable to AGCO Corporation and subsidiaries $ 30.0 $ 280.6 $ (169.1) $ 832.4 Weighted average number of common shares outstanding 74.6 74.9 74.6 74.9 Basic net income (loss) per share attributable to AGCO Corporation and subsidiaries $ 0.40 $ 3.75 $ (2.27) $ 11.11 Diluted net income (loss) per share: Net income (loss) attributable to AGCO Corporation and subsidiaries $ 30.0 $ 280.6 $ (169.1) $ 832.4 Weighted average number of common shares outstanding 74.6 74.9 74.6 74.9 Dilutive SSARs and RSUs 0.1 0.1 0.1 0.1 Weighted average number of common shares and common share equivalents outstanding for purposes of computing diluted net income per share 74.7 75.0 74.7 75.0 Diluted net income (loss) per share attributable to AGCO Corporation and subsidiaries $ 0.40 $ 3.74 $ (2.27) $ 11.10

Pension and Postretirement Be_2

Pension and Postretirement Benefit Plans (Tables)	9 Months Ended
	Sep. 30, 2024
Retirement Benefits [Abstract]
Net Pension and Postretirement Cost	Net periodic pension and postretirement benefit cost for the Company’s defined pension and postretirement benefit plans for the three and nine months ended September 30, 2024 and 2023 are set forth below (in millions): Three Months Ended September 30, Nine Months Ended September 30, Pension benefits 2024 2023 2024 2023 Service cost $ 2.0 $ 2.4 $ 6.2 $ 7.2 Interest cost 7.0 7.5 20.9 22.0 Expected return on plan assets (7.7) (7.5) (23.1) (22.1) Amortization of net actuarial losses 2.3 2.2 6.7 6.4 Amortization of prior service cost 0.4 0.3 1.1 1.0 Net periodic pension cost $ 4.0 $ 4.9 $ 11.8 $ 14.5 Three Months Ended September 30, Nine Months Ended September 30, Postretirement benefits 2024 2023 2024 2023 Service cost $ — $ — $ 0.1 $ — Interest cost 0.4 0.4 1.2 1.0 Amortization of prior service cost — — 0.1 0.1 Net periodic postretirement benefit cost $ 0.4 $ 0.4 $ 1.4 $ 1.1

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Schedule of Assets and Liabilities Measured at Fair Value	Assets and liabilities measured at fair value on a recurring basis as of September 30, 2024 and December 31, 2023 are summarized below (in millions): As of September 30, 2024 Level 1 Level 2 Level 3 Total Derivative assets $ — $ 25.8 $ — $ 25.8 Derivative liabilities — 10.5 — 10.5 As of December 31, 2023 Level 1 Level 2 Level 3 Total Derivative assets $ — $ 38.7 $ — $ 38.7 Derivative liabilities — 14.0 — 14.0

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Summary of Operating Lease Maturity	Lease payment amounts for operating and finance leases with remaining terms greater than one year, including leases classified as held for sale, as of September 30, 2024 and December 31, 2023 were as follows (in millions): September 30, 2024 December 31, 2023 Operating Leases (1) Finance Leases Operating Leases (1) Finance Leases 2024 $ 15.3 $ 0.2 $ 52.8 $ 0.7 2025 55.5 0.7 43.0 0.6 2026 44.4 0.5 32.6 0.4 2027 29.0 0.5 19.7 0.3 2028 21.5 0.3 14.7 0.1 Thereafter 50.1 5.8 46.5 5.8 Total lease payments 215.8 8.0 209.3 7.9 Less: imputed interest (2) (25.3) (2.0) (29.5) (2.0) Present value of leased liabilities $ 190.5 $ 6.0 $ 179.8 $ 5.9 __________________________________ (1) Operating lease payments include options to extend or terminate at the Company's sole discretion, which are included in the determination of lease term when they are reasonably certain to be exercised. (2) Calculated for each lease using either the implicit interest rate or the incremental borrowing rate when the implicit interest rate is not readily available.
Summary of Finance Lease Maturity	Lease payment amounts for operating and finance leases with remaining terms greater than one year, including leases classified as held for sale, as of September 30, 2024 and December 31, 2023 were as follows (in millions): September 30, 2024 December 31, 2023 Operating Leases (1) Finance Leases Operating Leases (1) Finance Leases 2024 $ 15.3 $ 0.2 $ 52.8 $ 0.7 2025 55.5 0.7 43.0 0.6 2026 44.4 0.5 32.6 0.4 2027 29.0 0.5 19.7 0.3 2028 21.5 0.3 14.7 0.1 Thereafter 50.1 5.8 46.5 5.8 Total lease payments 215.8 8.0 209.3 7.9 Less: imputed interest (2) (25.3) (2.0) (29.5) (2.0) Present value of leased liabilities $ 190.5 $ 6.0 $ 179.8 $ 5.9 __________________________________ (1) Operating lease payments include options to extend or terminate at the Company's sole discretion, which are included in the determination of lease term when they are reasonably certain to be exercised. (2) Calculated for each lease using either the implicit interest rate or the incremental borrowing rate when the implicit interest rate is not readily available.

Revenue (Tables)

Revenue (Tables)	9 Months Ended
	Sep. 30, 2024
Revenue from Contract with Customer [Abstract]
Changes in Contract Liabilities	Significant changes in the balance of contract liabilities for the three and nine months ended September 30, 2024 and 2023 were as follows (in millions): Three Months Ended September 30, 2024 2023 Balance at beginning of period $ 331.7 $ 274.6 Advance consideration received 50.4 47.7 Revenue recognized during the period for extended warranty contracts, maintenance services and technology services (40.0) (25.1) Revenue recognized during the period related to grain storage and protein production systems (4.0) (6.8) Reclassified to held for sale (1) (0.4) — Foreign currency translation 8.9 (5.8) Balance at September 30 $ 346.6 $ 284.6 Nine Months Ended September 30, 2024 2023 Balance at beginning of period $ 310.7 $ 239.0 Acquisitions 21.0 — Advance consideration received 156.4 164.2 Revenue recognized during the period for extended warranty contracts, maintenance services and technology services (117.2) (76.8) Revenue recognized during the period related to grain storage and protein production systems (16.2) (40.7) Reclassified to held for sale (1) (10.9) — Foreign currency translation 2.8 (1.1) Balance at September 30 $ 346.6 $ 284.6 ____________________________________ (1) Reclassification resulting from the Company's classification of the G&P business as held for sale. Refer to Note 3 for additional information.
Disaggregation of Revenue	Net sales for the three months ended September 30, 2024 disaggregated by primary geographical markets and major products consisted of the following (in millions): North America (1) South America Europe/Middle East (1) Asia/Pacific/Africa (1) Consolidated Primary geographical markets: United States $ 580.7 $ — $ — $ — $ 580.7 Canada 123.2 — — — 123.2 Brazil — 270.6 — — 270.6 Other South America — 106.7 — — 106.7 Germany — — 294.5 — 294.5 France — — 257.4 — 257.4 United Kingdom and Ireland — — 126.5 — 126.5 Finland and Scandinavia — — 168.1 — 168.1 Italy — — 74.3 — 74.3 Other Europe — — 315.4 — 315.4 Middle East and Algeria — — 61.9 — 61.9 Africa — — — 28.9 28.9 Asia — — — 64.8 64.8 Australia and New Zealand — — — 89.7 89.7 Mexico, Central America and Caribbean 32.3 4.3 — — 36.6 $ 736.1 $ 381.6 $ 1,298.2 $ 183.4 $ 2,599.3 Major products: Tractors $ 238.4 $ 224.0 $ 842.8 $ 99.3 $ 1,404.5 Replacement parts 109.6 40.6 311.1 27.0 488.3 Grain storage and protein production systems 171.7 30.8 32.2 20.8 255.5 Combines, application equipment and other machinery 216.4 86.2 112.0 36.4 451.0 $ 736.1 $ 381.6 $ 1,298.2 $ 183.4 $ 2,599.3 ____________________________________ (1) Rounding may impact the summation of amounts. Net sales for the three months ended September 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 $ 744.6 $ — $ — $ — $ 744.6 Canada 157.3 — — — 157.3 Brazil — 600.3 — — 600.3 Other South America — 115.9 — — 115.9 Germany — — 342.3 — 342.3 France — — 339.2 — 339.2 United Kingdom and Ireland — — 134.3 — 134.3 Finland and Scandinavia — — 181.5 — 181.5 Italy — — 103.4 — 103.4 Other Europe — — 398.2 — 398.2 Middle East and Algeria — — 88.0 — 88.0 Africa — — — 40.9 40.9 Asia — — — 72.7 72.7 Australia and New Zealand — — — 94.1 94.1 Mexico, Central America and Caribbean 39.2 3.6 — — 42.8 $ 941.1 $ 719.8 $ 1,586.9 $ 207.7 $ 3,455.5 Major products: Tractors $ 347.5 $ 418.3 $ 1,126.4 $ 116.9 $ 2,009.1 Replacement parts 107.1 41.8 292.6 26.0 467.5 Grain storage and protein production systems 169.8 33.0 32.9 25.5 261.2 Combines, application equipment and other machinery 316.7 226.7 135.0 39.3 717.7 $ 941.1 $ 719.8 $ 1,586.9 $ 207.7 $ 3,455.5 Net sales for the nine months ended September 30, 2024 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 $ 1,828.7 $ — $ — $ — $ 1,828.7 Canada 375.0 — — — 375.0 Brazil — 756.4 — — 756.4 Other South America — 266.5 — — 266.5 Germany — — 1,355.1 — 1,355.1 France — — 975.6 — 975.6 United Kingdom and Ireland — — 395.2 — 395.2 Finland and Scandinavia — — 532.9 — 532.9 Italy — — 246.4 — 246.4 Other Europe — — 1,089.8 — 1,089.8 Middle East and Algeria — — 335.1 — 335.1 Africa — — — 75.0 75.0 Asia — — — 201.7 201.7 Australia and New Zealand — — — 230.4 230.4 Mexico, Central America and Caribbean 99.8 11.0 — — 110.8 $ 2,303.5 $ 1,033.9 $ 4,930.1 $ 507.1 $ 8,774.6 Major products: Tractors $ 718.0 $ 604.1 $ 3,468.5 $ 274.0 $ 5,064.6 Replacement parts 321.3 119.3 896.0 73.4 1,410.0 Grain storage and protein production systems 510.8 94.2 87.7 64.1 756.8 Combines, application equipment and other machinery 753.4 216.3 477.9 95.6 1,543.2 $ 2,303.5 $ 1,033.9 $ 4,930.1 $ 507.1 $ 8,774.6 Net sales for the nine months ended September 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 $ 2,276.4 $ — $ — $ — $ 2,276.4 Canada 469.9 — — — 469.9 Brazil — 1,537.8 — — 1,537.8 Other South America — 273.0 — — 273.0 Germany — — 1,190.9 — 1,190.9 France — — 1,014.3 — 1,014.3 United Kingdom and Ireland — — 482.1 — 482.1 Finland and Scandinavia — — 587.4 — 587.4 Italy — — 337.2 — 337.2 Other Europe — — 1,355.2 — 1,355.2 Middle East and Algeria — — 314.4 — 314.4 Africa — — — 106.4 106.4 Asia — — — 261.5 261.5 Australia and New Zealand — — — 279.1 279.1 Mexico, Central America and Caribbean 114.7 11.4 — — 126.1 $ 2,861.0 $ 1,822.2 $ 5,281.5 $ 647.0 $ 10,611.7 Major products: Tractors $ 995.0 $ 1,072.9 $ 3,725.4 $ 356.0 $ 6,149.3 Replacement parts 339.1 124.1 874.9 76.8 1,414.9 Grain storage and protein production systems 506.1 112.6 116.7 94.7 830.1 Combines, application equipment and other machinery 1,020.8 512.6 564.5 119.5 2,217.4 $ 2,861.0 $ 1,822.2 $ 5,281.5 $ 647.0 $ 10,611.7

Segment Reporting (Tables)

Segment Reporting (Tables)	9 Months Ended
	Sep. 30, 2024
Segment Reporting [Abstract]
Sales Information By Reportable Segments	Segment results for the three and nine months ended September 30, 2024 and 2023 and assets as of September 30, 2024 and December 31, 2023 based on the Company’s reportable segments are as follows (in millions): Three Months Ended September 30, North America South America Europe/Middle East Asia/Pacific/Africa Total Segments 2024 Net sales $ 736.1 $ 381.6 $ 1,298.2 $ 183.4 $ 2,599.3 Income from operations 52.7 45.1 83.0 7.0 187.8 Depreciation 15.6 8.5 33.2 3.6 60.9 Capital expenditures 10.6 9.5 65.3 0.9 86.3 2023 Net sales $ 941.1 $ 719.8 $ 1,586.9 $ 207.7 $ 3,455.5 Income from operations 139.8 149.8 199.3 19.2 508.1 Depreciation 16.2 9.6 28.5 4.5 58.8 Capital expenditures 25.0 15.4 79.5 0.8 120.7 Nine Months Ended September 30, North America South America Europe/Middle East Asia/Pacific/Africa Total Segments 2024 Net sales $ 2,303.5 $ 1,033.9 $ 4,930.1 $ 507.1 $ 8,774.6 Income from operations 171.8 73.9 654.4 27.4 927.5 Depreciation 50.2 27.5 99.3 12.4 189.4 Capital expenditures 46.5 33.0 196.9 2.9 279.3 2023 Net sales $ 2,861.0 $ 1,822.2 $ 5,281.5 $ 647.0 $ 10,611.7 Income from operations 378.8 370.7 733.9 58.2 1,541.6 Depreciation 46.3 26.3 83.0 13.3 168.9 Capital expenditures 96.7 49.2 209.3 2.5 357.7 Assets As of September 30, 2024 $ 1,958.5 $ 1,261.5 $ 3,336.7 $ 894.0 $ 7,450.7 As of December 31, 2023 1,883.2 1,394.9 3,017.4 875.2 7,170.7
Reconciliation of Income from Operations from Segment to Consolidated	A reconciliation from the segment information to the consolidated balances for income from operations and total assets is set forth below (in millions): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Segment income from operations $ 187.8 $ 508.1 $ 927.5 $ 1,541.6 Impairment charges (0.2) — (5.3) — Loss on business held for sale (3.2) — (497.8) — Corporate expenses (45.3) (59.5) (161.2) (146.6) Amortization of intangibles (8.8) (14.4) (54.4) (43.3) Stock compensation expense (5.0) (9.8) (20.4) (36.1) Restructuring and business optimization expenses (10.5) (0.8) (41.7) (8.3) Consolidated income from operations $ 114.8 $ 423.6 $ 146.7 $ 1,307.3
Reconciliation of Assets from Segment to Consolidated	September 30, 2024 December 31, 2023 Segment assets $ 7,450.7 $ 7,170.7 Cash and cash equivalents 622.6 595.5 Investments in affiliates 551.5 512.7 Deferred tax assets, other current and noncurrent assets 1,547.3 1,500.1 Assets held for sale (1) 387.5 — Intangible assets, net 588.8 308.8 Goodwill 2,358.4 1,333.4 Consolidated total assets $ 13,506.8 $ 11,421.2 ____________________________________ (1) Represents non-segment assets related to the Company's G&P business, which the Company has classified as held for sale since June 30, 2024. Segment assets include the G&P assets held for sale. Refer to Note 3 for additional information.

Basis of Presentation (Details)

Basis of Presentation (Details) $ in Millions, ₺ in Billions, $ in Billions	3 Months Ended		9 Months Ended
	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2024 TRY (₺)	Sep. 30, 2024 ARS ($)	Dec. 31, 2023 USD ($)
Basis Of Presentation [Line Items]
Net sales	$ 2,599.3	$ 3,455.5	$ 8,774.6	$ 10,611.7
Assets	13,506.8		13,506.8				$ 11,421.2
Cash and cash equivalents	622.6		622.6				$ 595.5
Turkey | Subsidiaries
Basis Of Presentation [Line Items]
Net sales			317.9
Assets	173.1		173.1		₺ 5.9
Turkey | Turkish lira | Subsidiaries
Basis Of Presentation [Line Items]
Assets, reporting currency denominated value	134		134		4.6
Liabilities, reporting currency denominated value	72		72		₺ 2.5
Argentia | AGCO Capital
Basis Of Presentation [Line Items]
Net monetary assets	9.3		9.3			$ 9
Argentia | Subsidiaries
Basis Of Presentation [Line Items]
Net sales			167.3
Assets	262.3		262.3			254.7
Argentia | Pesos
Basis Of Presentation [Line Items]
Assets, reporting currency denominated value	107.5		107.5			104.4
Liabilities, reporting currency denominated value	15.8		15.8			15.3
Cash and cash equivalents	$ 61.6		$ 61.6			$ 59.8

Acquisitions (Narrative) (Detai

Acquisitions (Narrative) (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended	9 Months Ended
	Apr. 01, 2024	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2024	Sep. 30, 2023
Business Acquisition [Line Items]
Investments in joint venture by noncontrolling interest holder					$ 8.1	$ 0
Amortization of intangibles		$ (8.8)	$ (14.4)		(54.4)	(43.3)
Net sales		2,599.3	3,455.5		8,774.6	10,611.7
Net loss attributable to AGCO Corporation and subsidiaries		(30)	$ (280.6)		169.1	$ (832.4)
PTx Trimble, LLC
Business Acquisition [Line Items]
Percentage of noncontrolling interest owned by parent	85%
Percentage of noncontrolling interest owned by noncontrolling owner	15%
Subsidiaries, PTx Trimble, LLC
Business Acquisition [Line Items]
Investments in joint venture by noncontrolling interest holder	$ 8.1
Payments to acquire interest in joint venture	46
Net sales				$ 122.1
Net loss attributable to AGCO Corporation and subsidiaries				$ 21.3
OneAg
Business Acquisition [Line Items]
Total cash consideration for OneAg	$ 1,954
Decrease to intangible assets for measurement period adjustments		94.9
Decrease to redeemable noncontrolling interest for measurement period adjustments		167.2
Decrease in goodwill for measurement period adjustments		72
Amortization of intangibles		$ 5.9
Transaction-related costs					$ 24.1

Acquisitions (Purchase Consider

Acquisitions (Purchase Consideration Transferred) (Details) - OneAg $ in Millions	Apr. 01, 2024 USD ($)
Business Acquisition [Line Items]
Total cash consideration for OneAg	$ 1,954
Estimated working capital and other adjustments	(45.6)
Equity transaction associated with JCA noncontrolling interest	3.1
Total purchase consideration	$ 1,911.5
Transfer of percentage interest	15%

Acquisitions (Fair Values of th

Acquisitions (Fair Values of the Assets Acquired, Liabilities Assumed and Noncontrolling Interests) (Details) - USD ($) $ in Millions	Sep. 30, 2024	Apr. 01, 2024	Dec. 31, 2023
Business Acquisition [Line Items]
Goodwill	$ 2,358.4		$ 1,333.4
OneAg
Business Acquisition [Line Items]
Cash		$ 6.3
Accounts receivable		12.3
Inventories		58.9
Other current assets		3.2
Property, plant and equipment		21.6
Deferred tax assets		0.1
Right-of-use lease assets		2.4
Other assets (non-current)		0.1
Intangible assets		450.1
Goodwill		1,731.3
Total assets acquired		2,286.3
Accounts payable		2.1
Accrued expenses		11.3
Other current liabilities		14
Operating lease liabilities		1.6
Deferred tax liabilities		4
Other noncurrent liabilities		9.6
Total liabilities assumed		42.6
Redeemable noncontrolling interests (b)		332.2
Net assets acquired		$ 1,911.5
OneAg | Measurement Input, Exercise Date (in years)
Business Acquisition [Line Items]
Put and call options measurement input		3 years

Acquisitions (Acquired Identifi

Acquisitions (Acquired Identifiable Intangible Assets) (Details) - USD ($) $ in Millions		9 Months Ended
	Apr. 01, 2024	Sep. 30, 2024
Business Acquisition [Line Items]
Fair Value		$ 450.1
Customer Relationships
Business Acquisition [Line Items]
Fair Value		$ 39.9
Minimum
Business Acquisition [Line Items]
Useful Life		1 year
Maximum
Business Acquisition [Line Items]
Useful Life		50 years
OneAg
Business Acquisition [Line Items]
Fair Value	$ 450.1
OneAg | Developed Technology
Business Acquisition [Line Items]
Fair Value	359.3
OneAg | Customer Relationships
Business Acquisition [Line Items]
Fair Value	$ 39.9
Useful Life	20 years
OneAg | Tradename
Business Acquisition [Line Items]
Fair Value	$ 6.1
Useful Life	5 years
OneAg | Favorable contracts
Business Acquisition [Line Items]
Fair Value	$ 44.8
OneAg | Minimum | Developed Technology
Business Acquisition [Line Items]
Useful Life	7 years
OneAg | Minimum | Favorable contracts
Business Acquisition [Line Items]
Useful Life	2 years
OneAg | Maximum | Developed Technology
Business Acquisition [Line Items]
Useful Life	15 years
OneAg | Maximum | Favorable contracts
Business Acquisition [Line Items]
Useful Life	7 years

Acquisitions (Pro Forma Financi

Acquisitions (Pro Forma Financial Information) (Details) - OneAg - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Business Acquisition [Line Items]
Net sales	$ 2,599.3	$ 3,568.1	$ 8,858	$ 10,987.6
Net income (loss) attributable to AGCO Corporation and subsidiaries	$ 30.6	$ 277.8	$ (165.5)	$ 799.5

Business Held for Sale (Narrati

Business Held for Sale (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Nov. 01, 2024
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss on business held for sale	$ 3.2	$ 0	$ 497.8	$ 0
Repayments of debt			2.3	$ 148.5
Grain & Protein (G&P) | Disposal Group, Disposed of by Sale, Not Discontinued Operations | Subsequent Event
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Purchase price for sale					$ 700
Grain & Protein (G&P) | Disposal Group, Held-for-Sale, Not Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss on business held for sale			497.8
Cumulative translation adjustment losses on business held for sale			$ 71.6

Business Held for Sale (Assets

Business Held for Sale (Assets and Liabilities Classified as Held for Sale) (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Current assets held for sale:
Cash and cash equivalents	$ 20
Total current assets held for sale	417	$ 0
Current liabilities held for sale:
Total current liabilities held for sale	259.6	$ 0
Disposal Group, Held-for-Sale, Not Discontinued Operations | Grain & Protein (G&P)
Current assets held for sale:
Cash and cash equivalents	20
Accounts and notes receivable, net	191.6
Inventories, net	180.2
Other current assets	25.2
Total current assets held for sale	417
Property, plant and equipment, net	101.9
Right-of-use lease assets	14.8
Other assets	9.7
Intangible assets, net	114.6
Goodwill	218
Total assets held for sale	876
Current liabilities held for sale:
Accounts payable	92.5
Accrued expenses	111.2
Other current liabilities	55.9
Total current liabilities held for sale	259.6
Deferred tax liabilities	11.1
Operating lease liabilities	10.5
Other noncurrent liabilities	5.3
Total liabilities held for sale	286.5
Disposal group, net	$ 589.5

Accounts Receivable Sales Agr_2

Accounts Receivable Sales Agreements (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]
Outstanding accounts receivable securitization	$ 203.2		$ 203.2		$ 211.3
Other expense, net
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loss on sales of receivables	28.4	$ 40.5	92.2	$ 99.3
Trade Accounts Receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Cash received from receivables sold	205.4		205.4		254.1
United States, Canada, Europe, and Brazil
Accounts, Notes, Loans and Financing Receivable [Line Items]
Cash received from receivables sold	$ 2,200		$ 2,200		$ 2,500

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets (Schedule of Goodwill) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Goodwill [Roll Forward]
Goodwill at beginning of period			$ 1,333.4
Acquisitions			1,740
Reclassified to held for sale			(715.8)
Foreign currency translation			0.8
Goodwill at end of period	$ 2,358.4		2,358.4
Loss on business held for sale	3.2	$ 0	497.8	$ 0
Disposal Group, Held-for-Sale, Not Discontinued Operations | Grain & Protein (G&P)
Goodwill [Roll Forward]
Loss on business held for sale			497.8
Goodwill included in held for sale	218		218
North America
Goodwill [Roll Forward]
Goodwill at beginning of period			668.2
Acquisitions			0
Reclassified to held for sale			(524.1)
Foreign currency translation			(0.8)
Goodwill at end of period	143.3		143.3
South America
Goodwill [Roll Forward]
Goodwill at beginning of period			93.5
Acquisitions			0
Reclassified to held for sale			(13.1)
Foreign currency translation			(10.2)
Goodwill at end of period	70.2		70.2
Europe/Middle East
Goodwill [Roll Forward]
Goodwill at beginning of period			458.5
Acquisitions			8.7
Reclassified to held for sale			(62.1)
Foreign currency translation			5
Goodwill at end of period	410.1		410.1
Asia/Pacific/Africa
Goodwill [Roll Forward]
Goodwill at beginning of period			113.2
Acquisitions			0
Reclassified to held for sale			(116.5)
Foreign currency translation			3.3
Goodwill at end of period	0		0
Unallocated
Goodwill [Roll Forward]
Goodwill at beginning of period			0
Acquisitions			1,731.3
Reclassified to held for sale			0
Foreign currency translation			3.5
Goodwill at end of period	$ 1,734.8		$ 1,734.8

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets (Schedule of Change in Carrying Amount of Intangible Assets) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Gross carrying amounts:
Balance at beginning of period			$ 929.5
Acquisitions			450.1
Reclassified to held for sale			(605.2)
Foreign currency translation			(6.1)
Balance at end of period	$ 768.3		768.3
Accumulated amortization:
Balance at beginning of period			712.9
Amortization expense	8.8	$ 14.4	54.4	$ 43.3
Reclassified to held for sale			(495.2)
Foreign currency translation			(5.7)
Balance at end of period	266.4		266.4
Trademarks and Trade Names
Gross carrying amounts:
Balance at beginning of period			194.3
Acquisitions			6.1
Reclassified to held for sale			(124.6)
Foreign currency translation			(0.4)
Balance at end of period	75.4		75.4
Accumulated amortization:
Balance at beginning of period			114.5
Amortization expense			6.4
Reclassified to held for sale			(75)
Foreign currency translation			(0.8)
Balance at end of period	45.1		45.1
Customer Relationships
Gross carrying amounts:
Balance at beginning of period			580.7
Acquisitions			39.9
Reclassified to held for sale			(420.6)
Foreign currency translation			(3.6)
Balance at end of period	196.4		196.4
Accumulated amortization:
Balance at beginning of period			483.4
Amortization expense			20.8
Reclassified to held for sale			(370.2)
Foreign currency translation			(3.2)
Balance at end of period	130.8		130.8
Patents and Technology
Gross carrying amounts:
Balance at beginning of period			148.2
Acquisitions			359.3
Reclassified to held for sale			(60)
Foreign currency translation			(2.2)
Balance at end of period	445.3		445.3
Accumulated amortization:
Balance at beginning of period			113.3
Amortization expense			19.9
Reclassified to held for sale			(50)
Foreign currency translation			(1.7)
Balance at end of period	81.5		81.5
Other
Gross carrying amounts:
Balance at beginning of period			6.3
Acquisitions			44.8
Reclassified to held for sale			0
Foreign currency translation			0.1
Balance at end of period	51.2		51.2
Accumulated amortization:
Balance at beginning of period			1.7
Amortization expense			7.3
Reclassified to held for sale			0
Foreign currency translation			0
Balance at end of period	$ 9		$ 9

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets (Indefinite-Lived Intangible Assets) (Details) - Trademarks and Trade Names $ in Millions	9 Months Ended
	Sep. 30, 2024 USD ($)
Indefinite-lived intangible assets:
Balance at beginning of period	$ 85.9
Foreign currency translation	0.3
Balance at end of period	$ 86.2

Goodwill and Other Intangible_6

Goodwill and Other Intangible Assets (Narrative) (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
External-use software, net	$ 0.7	$ 6.3
Disposal Group, Held-for-Sale, Not Discontinued Operations | Grain & Protein (G&P)
Finite-Lived Intangible Assets [Line Items]
Intangible assets included in held for sale	114.6
Disposal Group, Held-for-Sale, Not Discontinued Operations | Grain & Protein (G&P) | External use software
Finite-Lived Intangible Assets [Line Items]
Intangible assets included in held for sale	$ 4.6
Minimum
Finite-Lived Intangible Assets [Line Items]
Estimated useful life	1 year
Maximum
Finite-Lived Intangible Assets [Line Items]
Estimated useful life	50 years

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Finished goods	$ 1,604.6	$ 1,460.7
Repair and replacement parts	813.5	823.1
Work in process	260.3	255.2
Raw materials	764.8	901.7
Inventories, net	3,443.2	3,440.7
Reserve for surplus and obsolete inventories	$ 285.9	$ 238.9

Product Warranty (Warranty Rese

Product Warranty (Warranty Reserve Activity) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Warranty reserve activity:
Balance at beginning of period	$ 774.6	$ 727.2	$ 800.8	$ 640
Acquisitions	0	0	4.1	0
Accruals for warranties issued	106.8	123.9	292.7	321.4
Settlements made and deferred revenue recognized	(116.2)	(94.8)	(291.8)	(222.7)
Reclassified to held for sale	(0.3)	0	(11.9)	0
Foreign currency translation	27.9	(21.1)	(1.1)	(3.5)
Balance at end of period	$ 792.8	$ 735.2	$ 792.8	$ 735.2

Product Warranty (Narrative) (D

Product Warranty (Narrative) (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023
Product Warranty Liability [Line Items]
Product warranty period, minimum, years	1 year
Product warranty period, maximum, years	4 years
Product warranty accrual, current	$ 645.2	$ 679.9	$ 625.6
Product warranty accrual, noncurrent	$ 147.6	$ 120.9	$ 109.6
Minimum
Product Warranty Liability [Line Items]
Extended product warranty, period	3 years
Maximum
Product Warranty Liability [Line Items]
Extended product warranty, period	5 years

Supplier Finance Programs (Deta

Supplier Finance Programs (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Supplier Finance Program [Line Items]
Amount outstanding reflected in Accounts payable	$ 77.7	$ 82.7
Minimum
Supplier Finance Program [Line Items]
Payment terms period	30 days
Maximum
Supplier Finance Program [Line Items]
Payment terms period	180 days

Indebtedness (Components of Ind

Indebtedness (Components of Indebtedness) (Details) € in Millions, $ in Millions	Sep. 30, 2024 USD ($)	Sep. 30, 2024 EUR (€)	Mar. 21, 2024	Jan. 25, 2024	Dec. 31, 2023 USD ($)	Sep. 29, 2023	Oct. 06, 2021	Jan. 25, 2019 EUR (€)
Debt Instrument [Line Items]
Debt issuance costs	$ (12.8)				$ (3.1)
Total long-term debt	3,960.7				1,379.5
Total long-term indebtedness	3,610				1,377.2
Senior Notes | 5.450% Senior notes due 2027
Debt Instrument [Line Items]
Interest rate percentage			5.45%
Long-term debt, gross	400				0
Senior Notes | 5.800% Senior notes due 2034
Debt Instrument [Line Items]
Interest rate percentage			5.80%
Long-term debt, gross	700				0
Senior Notes | 0.800% Senior notes due 2028
Debt Instrument [Line Items]
Interest rate percentage							0.80%
Long-term debt, gross	670.2	€ 600			664
Senior Notes | 1.002% EIB Senior term loan due 2025
Debt Instrument [Line Items]
Interest rate percentage								1.002%
Long-term debt, gross	279.3				276.7			€ 250
Less current portion of long-term debt	(279.3)				0
Senior Notes | Senior term loans due between 2025 and 2028
Debt Instrument [Line Items]
Long-term debt, gross	163.7	€ 146.5			162.1
Less current portion of long-term debt	(70.3)				0
Other long term debt
Debt Instrument [Line Items]
Long-term debt, gross	1.1				3.1
Less current portion of long-term debt	(1.1)				(2.3)
Revolving Credit Facility | Line of Credit | Credit facility, expires 2027
Debt Instrument [Line Items]
Long-term debt, gross	790				0
Term Loan
Debt Instrument [Line Items]
Long-term debt, gross	500				0
Multi-Currency Finance Contract | EIB Senior term loan due 2029
Debt Instrument [Line Items]
Interest rate percentage						3.98%
Long-term debt, gross	279.3				276.7
Multi-Currency Finance Contract | EIB Senior term loan due 2030
Debt Instrument [Line Items]
Interest rate percentage				3.416%
Long-term debt, gross	$ 189.9				$ 0

Indebtedness (Narrative) (Detai

Indebtedness (Narrative) (Details) € in Millions

1 Months Ended

3 Months Ended

9 Months Ended

25 Months Ended

49 Months Ended

Nov. 01, 2024 USD ($)

Sep. 28, 2023 USD ($)

Oct. 06, 2021 EUR (€)

Mar. 21, 2027

Mar. 31, 2024 USD ($)

Dec. 31, 2022 USD ($)

Mar. 21, 2034

Sep. 30, 2024 USD ($) agreement

Sep. 30, 2023 USD ($)

Aug. 31, 2023 EUR (€)

Oct. 31, 2023 EUR (€)

Sep. 30, 2024 EUR (€) agreement

Mar. 25, 2024 USD ($)

Mar. 21, 2024 USD ($)

Feb. 15, 2024 EUR (€)

Jan. 25, 2024 EUR (€)

Dec. 31, 2023 USD ($)

Dec. 31, 2023 EUR (€)

Oct. 26, 2023 EUR (€)

Sep. 29, 2023 EUR (€)

Nov. 30, 2022 USD ($)

Jun. 30, 2022 EUR (€)

Jan. 25, 2019 EUR (€)

Aug. 31, 2018 EUR (€) agreement

Oct. 31, 2016 EUR (€) agreement

Debt Instrument [Line Items]

Repayments of debt

$ 2,300,000

$ 148,500,000

Letters of credit outstanding

14,700,000

$ 14,700,000

Bridge Loan

Debt Instrument [Line Items]

Maximum borrowing capacity

$ 2,000,000,000

Remaining borrowing capacity

$ 0

Debt instrument term

364 days

Other Short-Term Borrowings

Debt Instrument [Line Items]

Short-term debt outstanding

61,600,000

12,700,000

Multi-Currency Revolving Credit Facility | Line of Credit | EURIBOR | Minimum

Debt Instrument [Line Items]

Margin on variable rate

0.875%

Multi-Currency Revolving Credit Facility | Line of Credit | EURIBOR | Maximum

Debt Instrument [Line Items]

Margin on variable rate

1.875%

Multi-Currency Revolving Credit Facility | Line of Credit | Interest Accrual, Option One | SOFR

Debt Instrument [Line Items]

Margin on variable rate

0.10%

Multi-Currency Revolving Credit Facility | Line of Credit | Interest Accrual, Option One | SOFR | Minimum

Debt Instrument [Line Items]

Margin on variable rate

0.875%

Multi-Currency Revolving Credit Facility | Line of Credit | Interest Accrual, Option One | SOFR | Maximum

Debt Instrument [Line Items]

Margin on variable rate

1.875%

Multi-Currency Revolving Credit Facility | Line of Credit | Interest Accrual, Option Two | SOFR

Debt Instrument [Line Items]

Margin on variable rate

1%

Multi-Currency Revolving Credit Facility | Line of Credit | Interest Accrual, Option Two | SOFR | Minimum

Debt Instrument [Line Items]

Margin on variable rate

0%

Multi-Currency Revolving Credit Facility | Line of Credit | Interest Accrual, Option Two | SOFR | Maximum

Debt Instrument [Line Items]

Margin on variable rate

0.875%

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

Debt Instrument [Line Items]

Margin on variable rate

0.50%

5.450% Senior notes due 2027 | Senior Notes

Debt Instrument [Line Items]

Interest rate percentage

5.45%

Face amount

$ 400,000,000

Long-term debt, gross

400,000,000

0

5.450% Senior notes due 2027 | Senior Notes | Forecast

Debt Instrument [Line Items]

Redemption price, percentage

100%

5.800% Senior notes due 2034 | Senior Notes

Debt Instrument [Line Items]

Interest rate percentage

5.80%

Face amount

$ 700,000,000

Long-term debt, gross

700,000,000

0

5.800% Senior notes due 2034 | Senior Notes | Forecast

Debt Instrument [Line Items]

Redemption price, percentage

100%

0.800% Senior notes due 2028 | Senior Notes

Debt Instrument [Line Items]

Interest rate percentage

0.80%

Face amount | €

€ 600

Long-term debt, gross

670,200,000

€ 600

664,000,000

Face amount, issue price percentage

99.993%

1.002% EIB Senior term loan due 2025 | Senior Notes

Debt Instrument [Line Items]

Interest rate percentage

1.002%

Long-term debt, gross

$ 279,300,000

276,700,000

€ 250

Senior Term Loans due Between 2023 and 2028 | Senior Notes

Debt Instrument [Line Items]

Repayments of debt | €

€ 244

€ 322.5

Face amount | €

€ 338

€ 375

Number of loan agreements entered | agreement

7

7

Senior term loans due between 2025 and 2028 | Line of Credit | Minimum

Debt Instrument [Line Items]

Margin on variable rate

1.67%

Senior term loans due between 2025 and 2028 | Line of Credit | Maximum

Debt Instrument [Line Items]

Margin on variable rate

2.26%

Senior term loans due between 2025 and 2028 | Line of Credit | EURIBOR | Minimum

Debt Instrument [Line Items]

Margin on variable rate

1.10%

Senior term loans due between 2025 and 2028 | Senior Notes

Debt Instrument [Line Items]

Long-term debt, gross

$ 163,700,000

€ 146.5

162,100,000

Number of agreements remaining | agreement

4

4

Revolving Credit Facility | Subsequent Event

Debt Instrument [Line Items]

Repayments of debt

$ 150,000,000

Revolving Credit Facility | Line of Credit

Debt Instrument [Line Items]

Maximum borrowing capacity

$ 800,000,000

Increase to maximum borrowing capacity

$ 450,000,000

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

Debt Instrument [Line Items]

Maximum borrowing capacity

1,250,000,000

Line of credit amount outstanding

$ 790,000,000

Remaining borrowing capacity

459,900,000

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

Debt Instrument [Line Items]

Maximum borrowing capacity

325,000,000

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

Debt Instrument [Line Items]

Maximum borrowing capacity

925,000,000

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

Debt Instrument [Line Items]

Repayments of debt

$ 240,000,000

Revolving Credit Facility | Uncommitted Revolving Credit Facility

Debt Instrument [Line Items]

Maximum borrowing capacity

111,700,000

€ 100

Line of credit amount outstanding

0

0

Remaining borrowing capacity

111,700,000

€ 100

111,700,000

€ 100

Term Loan

Debt Instrument [Line Items]

Maximum borrowing capacity

$ 500,000,000

250,000,000

Increase to maximum borrowing capacity

$ 250,000,000

Line of credit amount outstanding

500,000,000

Long-term debt, gross

500,000,000

0

Term Loan | Subsequent Event

Debt Instrument [Line Items]

Repayments of debt

500,000,000

Term Loan | Line of Credit | Subsequent Event

Debt Instrument [Line Items]

Repayments of debt

$ 500,000,000

Multi-Currency Finance Contract | EIB Senior term loan due 2029

Debt Instrument [Line Items]

Maximum borrowing capacity | €

€ 250

Line of credit amount outstanding

279,300,000

€ 250

Interest rate percentage

3.98%

Long-term debt, gross

279,300,000

276,700,000

Percentage of specified investments

50%

Multi-Currency Finance Contract | EIB Senior term loan due 2030

Debt Instrument [Line Items]

Maximum borrowing capacity | €

€ 170

Line of credit amount outstanding

189,900,000

€ 170

Interest rate percentage

3.416%

Long-term debt, gross

$ 189,900,000

$ 0

Restructuring and Business Op_3

Restructuring and Business Optimization Expenses (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Jun. 24, 2024
Restructuring Cost and Reserve [Line Items]
Restructuring and business optimization expenses	$ 10.5	$ 0.8	$ 41.7	$ 8.3
Business Optimization
Restructuring Cost and Reserve [Line Items]
Restructuring and business optimization expenses	$ 5.3		$ 5.3
2024 Restructuring Program | One-time Termination Benefits | Minimum
Restructuring Cost and Reserve [Line Items]
Expected charges to be incurred					$ 150
2024 Restructuring Program | One-time Termination Benefits | Maximum
Restructuring Cost and Reserve [Line Items]
Expected charges to be incurred					$ 200

Restructuring and Business Op_4

Restructuring and Business Optimization Expenses (Restructuring Expense Activity) (Details) - USD ($) $ in Millions	3 Months Ended				9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Restructuring Reserve [Roll Forward]
Restructuring reserve, end of period	$ 29.9				$ 29.9
Restructuring and business optimization expenses	10.5			$ 0.8	41.7	$ 8.3
Employee Severance [Member]
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning of period	32.6	$ 5.3	$ 7.8		7.8
Quarterly cash activity	(8.9)	(2.1)	(3.4)
Reclassified to held for sale	0.4	(0.4)
Foreign currency translation	0.6	(0.3)	(0.2)
Restructuring reserve, end of period		32.6	5.3
Restructuring and business optimization expenses	5.2	$ 30.1	$ 1.1
Business Optimization
Restructuring Reserve [Roll Forward]
Restructuring and business optimization expenses	$ 5.3				$ 5.3

Derivative Instruments and He_3

Derivative Instruments and Hedging Activities (Narrative) (Details) € in Millions, $ in Millions			3 Months Ended	9 Months Ended
	Nov. 04, 2024 USD ($)	Mar. 28, 2024 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2023 USD ($)	Jan. 29, 2028 USD ($)	Jan. 29, 2028 EUR (€)	Sep. 30, 2024 USD ($)	Jun. 30, 2024 USD ($)	Dec. 31, 2023 USD ($)	Sep. 30, 2023 EUR (€)
Deferred Gains and Losses on Derivatives
Derivative [Line Items]
AOCI Including Portion Attributable to Noncontrolling Interest, before Tax							$ (8.8)	$ (6.8)	$ 1.3
Foreign currency contracts | Deferred Gains and Losses on Derivatives
Derivative [Line Items]
AOCI Including Portion Attributable to Noncontrolling Interest, before Tax							3.5
Foreign currency contracts | Not Designated as Hedging Instrument
Derivative [Line Items]
Notional amount							2,710.6		3,125.1
Foreign currency contracts | Cash Flow Hedging | Designated as Hedging Instrument
Derivative [Line Items]
Notional amount							234.7		262.2
Commodity contracts | Cash Flow Hedging | Designated as Hedging Instrument
Derivative [Line Items]
Notional amount							0		$ 2.5
Treasury rate locks | Cash Flow Hedging | Designated as Hedging Instrument
Derivative [Line Items]
Gain recognized in accumulated other comprehensive loss		$ 8.2
Cross currency swap contract payment | Net Investment Hedging | Designated as Hedging Instrument
Derivative [Line Items]
Notional amount							$ 277
Cross currency swap contract payment | Net Investment Hedging | Designated as Hedging Instrument | Subsequent Event
Derivative [Line Items]
Notional amount	$ 277.4
Cross currency swap contract payment | Net Investment Hedging | Designated as Hedging Instrument | Forecast
Derivative [Line Items]
Notional amount | €						€ 247.9
Cross currency swap contract receipt | Net Investment Hedging | Designated as Hedging Instrument | Subsequent Event
Derivative [Line Items]
Notional amount	300
Cross currency swap contract receipt | Net Investment Hedging | Designated as Hedging Instrument | Forecast
Derivative [Line Items]
Notional amount					$ 300
Cross currency swap contract | Net Investment Hedging | Designated as Hedging Instrument | Subsequent Event
Derivative [Line Items]
Notional amount	600
Cross Currency Interest Rate Contract One | Net Investment Hedging | Designated as Hedging Instrument | Subsequent Event
Derivative [Line Items]
Notional amount	$ 200
Term of the contract	3 years
Cross Currency Interest Rate Contract Two | Net Investment Hedging | Designated as Hedging Instrument | Subsequent Event
Derivative [Line Items]
Notional amount	$ 200
Term of the contract	5 years
Cross Currency Interest Rate Contract Three | Net Investment Hedging | Designated as Hedging Instrument | Subsequent Event
Derivative [Line Items]
Notional amount	$ 200
Term of the contract	7 years
Foreign currency denominated debt | Designated as Hedging Instrument
Derivative [Line Items]
Gain on net investment hedge, net of tax, recognized in other comprehensive loss			$ 1.7	$ 2.7
Foreign currency denominated debt | Net Investment Hedging | Designated as Hedging Instrument
Derivative [Line Items]
Notional amount | €										€ 150

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		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Cost of goods sold	$ 1,996.2	$ 2,521.5	$ 6,564.2	$ 7,817.1
Interest expense, net	33.9	5.5	65.7	11.8
Cash Flow Hedging | Designated as Hedging Instrument
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gain (Loss) Recognized in Accumulated Other Comprehensive Loss	(0.3)	(1.8)	0.8	(8.5)
Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Income	(1.9)	(2.3)	(5.7)	(5)
Cash Flow Hedging | Designated as Hedging Instrument | Foreign currency contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gain (Loss) Recognized in Accumulated Other Comprehensive Loss	(0.3)	(1.7)	(5)	(8.6)
Cash Flow Hedging | Designated as Hedging Instrument | Foreign currency contracts | Cost of goods sold
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Income	(1.9)	(2.5)	(5.7)	(5.1)
Cash Flow Hedging | Designated as Hedging Instrument | Commodity contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gain (Loss) Recognized in Accumulated Other Comprehensive Loss	0	(0.1)	(0.3)	0.1
Cash Flow Hedging | Designated as Hedging Instrument | Commodity contracts | Cost of goods sold
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Income	(0.1)	$ 0.2	(0.3)	$ 0.1
Cash Flow Hedging | Designated as Hedging Instrument | Treasury rate locks
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gain (Loss) Recognized in Accumulated Other Comprehensive Loss	0		6.1
Cash Flow Hedging | Designated as Hedging Instrument | Treasury rate locks | Interest expense, net
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Income	$ 0.1		$ 0.3

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	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2024	Sep. 30, 2023	Jun. 30, 2023	Dec. 31, 2022
After-Tax Amount
Balance beginning of period	$ 4,053.9	$ 4,656.8
Balance end of period	4,148.8	4,148.8
Equity, Including Portion Attributable to Noncontrolling Interest	(4,148.8)	(4,148.8)	$ (4,355.6)	$ (4,139)	$ (3,882.6)
Deferred Gains and Losses on Derivatives
Before-Tax Amount
Accumulated derivative net gains (losses) as the beginning of the period	6.8	(1.3)
Net changes in fair value of derivatives	(0.1)	3.9
Net losses reclassified from accumulated other comprehensive loss into income	2.1	6.2
Accumulated derivative net gains (losses) as of the end of the period	8.8	8.8
Income Tax Expense (Benefit)
Accumulated derivative net gains (losses) as of the beginning of the period	2.7	(0.5)
Net changes in fair value of derivatives	0.2	3.1
Net losses reclassified from accumulated other comprehensive loss into income	0.2	0.5
Accumulated derivative net gains (losses) as of the end of the period	3.1	3.1
After-Tax Amount
Balance beginning of period	4.1	(0.8)
Other comprehensive loss before reclassifications	(0.3)	0.8
Net losses reclassified from accumulated other comprehensive loss into income	1.9	5.7
Balance end of period	5.7	5.7
Equity, Including Portion Attributable to Noncontrolling Interest	$ (5.7)	$ (5.7)

Derivative Instruments and He_6

Derivative Instruments and Hedging Activities (Notional Value and Change in Fair Value of Net Investment Hedges) (Details) - Cross currency swap contract - Designated as Hedging Instrument - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Derivative [Line Items]
Gain (Loss) Recognized in Accumulated Other Comprehensive Loss, Before-Tax Amount	$ (7.1)	$ 4.1	$ 1	$ (2.6)
Gain (Loss) Recognized in Accumulated Other Comprehensive Loss, Income Tax Expense (Benefit)	(1.8)	1	0.2	(0.7)
Gain (Loss) Recognized in Accumulated Other Comprehensive Loss, After-Tax Amount	(5.3)	$ 3.1	0.8	$ (1.9)
Net Investment Hedging
Derivative [Line Items]
Notional amount	$ 300		$ 300		$ 300

Derivative Instruments and He_7

Derivative Instruments and Hedging Activities (Derivatives not Designated as Hedging Instruments) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Foreign currency contracts | Not Designated as Hedging Instrument | Other expense, net
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gain (loss) recognized in net income	$ 17.1	$ (9.9)	$ (24.7)	$ 39.2

Derivative Instruments and He_8

Derivative Instruments and Hedging Activities (Fair Value Of Derivative Instruments) (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Derivatives, Fair Value [Line Items]
Asset derivatives	$ 25.8	$ 38.7
Liability derivatives	10.5	14
Foreign currency contracts | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Asset derivatives	2.1	1.3
Liability derivatives	4.6	1.2
Foreign currency contracts | Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Asset derivatives	2.4	17.1
Liability derivatives	5.9	12.8
Cross currency swap contract | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Asset derivatives	21.3	20.3
Liability derivatives	$ 0	$ 0

Stockholders' Equity (Schedule

Stockholders' Equity (Schedule of Stockholders' Equity) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2022
Increase (Decrease) in Temporary Equity [Roll Forward]
Balance beginning of period	$ 504.7		$ 0
Net income (loss)	(1.1)		(2.9)
Foreign currency translation adjustments	1.1		0.1
Initial fair value of redeemable noncontrolling interests (Note 2)			332.2
Redeemable noncontrolling interests measurement period adjustment (Note 2)	(167.2)
Investment by redeemable noncontrolling interest (Note 2)			8.1
Balance end of period	337.5		337.5
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance beginning of period	4,053.9	$ 4,139	4,656.8	$ 3,882.6
Stock compensation	3.8	10.2	18.6	37.5
Issuance of stock awards	(0.7)	(0.3)	(13.8)	(20.5)
SSARs exercised			(0.1)	(1.2)
Sale of minority interest	(0.1)		0.1
Comprehensive income:
Net income (loss)	30		(169.1)
Net income	28.9	280.5	(172)	832.3
Other comprehensive income (loss):
Foreign currency translation adjustments	79.9		(107.2)
Foreign currency translation adjustments	81	(54.5)	(107.1)	64.1
Defined pension and postretirement benefit plans, net of tax	2	1.9	5.6	5.6
Deferred gains and losses on derivatives, net of tax	1.6	0.5	6.5	(3.5)
Payment of dividends to stockholders	(21.6)	(21.7)	(251.5)	(435.8)
Equity transaction associated with JCA noncontrolling interest (Note 2)			3.1
Balance end of period	4,148.8	4,355.6	4,148.8	4,355.6	$ 3,882.6
Accounting Standards Update [Extensible Enumeration]					Accounting Standards Update 2016-13 [Member]
Cumulative Effect, Period of Adoption, Adjustment
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance beginning of period				(5.5)
Other comprehensive income (loss):
Balance end of period					$ (5.5)
Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance beginning of period	0.7	0.7	0.7	0.7
Other comprehensive income (loss):
Balance end of period	0.7	0.7	0.7	0.7	0.7
Additional Paid-in Capital
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance beginning of period	9.2	36.1	4.1	30.2
Stock compensation	3.8	10.2	18.6	37.5
Issuance of stock awards	(0.6)	(0.3)	(13.3)	(20.5)
SSARs exercised			(0.1)	(1.2)
Other comprehensive income (loss):
Equity transaction associated with JCA noncontrolling interest (Note 2)			3.1
Balance end of period	12.4	46	12.4	46	30.2
Retained Earnings
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance beginning of period	5,930.6	5,786.8	6,360	5,654.6
Issuance of stock awards	(0.1)		(0.5)
Comprehensive income:
Net income (loss)	30		(169.1)
Net income		280.6		832.4
Other comprehensive income (loss):
Payment of dividends to stockholders	(21.6)	(21.7)	(251.5)	(435.8)
Balance end of period	5,938.9	6,045.7	5,938.9	6,045.7	5,654.6
Retained Earnings | Cumulative Effect, Period of Adoption, Adjustment
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance beginning of period				(5.5)
Other comprehensive income (loss):
Balance end of period					(5.5)
Accumulated Other Comprehensive Loss
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance beginning of period	(1,886.7)	(1,684.8)	(1,708.1)	(1,803.1)
Other comprehensive income (loss):
Foreign currency translation adjustments	79.9		(107.2)
Foreign currency translation adjustments		(54.5)		64.1
Defined pension and postretirement benefit plans, net of tax	2	1.9	5.6	5.6
Deferred gains and losses on derivatives, net of tax	1.6	0.5	6.5	(3.5)
Balance end of period	(1,803.2)	(1,736.9)	(1,803.2)	(1,736.9)	(1,803.1)
Noncontrolling Interests
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance beginning of period	0.1	0.2	0.1	0.2
Sale of minority interest	(0.1)		0.1
Comprehensive income:
Net income		(0.1)		(0.1)
Other comprehensive income (loss):
Balance end of period	$ 0	$ 0.1	$ 0	$ 0.1	$ 0.2

Stockholders' Equity (Changes i

Stockholders' Equity (Changes in Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance beginning of period	$ 4,053.9	$ 4,139	$ 4,656.8	$ 3,882.6
Other comprehensive income (loss)	84.6	(52.1)	(95)	66.2
Balance end of period	4,148.8	4,355.6	4,148.8	4,355.6
Defined Pension and Postretirement Benefit Plans
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance beginning of period			(238.6)
Other comprehensive income (loss) before reclassifications			0
Net losses reclassified from accumulated other comprehensive loss			5.6
Other comprehensive income (loss)			5.6
Balance end of period	(233)		(233)
Deferred Gains and Losses on Derivatives
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance beginning of period	4.1		(0.8)
Other comprehensive income (loss) before reclassifications	(0.3)		0.8
Net losses reclassified from accumulated other comprehensive loss	1.9		5.7
Other comprehensive income (loss)			6.5
Balance end of period	5.7		5.7
Cumulative Translation Adjustment
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance beginning of period			(1,468.7)
Other comprehensive income (loss) before reclassifications			(107.2)
Net losses reclassified from accumulated other comprehensive loss			0
Other comprehensive income (loss)			(107.2)
Balance end of period	(1,575.9)		(1,575.9)
Accumulated Other Comprehensive Loss
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance beginning of period	(1,886.7)	(1,684.8)	(1,708.1)	(1,803.1)
Other comprehensive income (loss) before reclassifications			(106.4)
Net losses reclassified from accumulated other comprehensive loss			11.3
Other comprehensive income (loss)			(95.1)
Balance end of period	$ (1,803.2)	$ (1,736.9)	$ (1,803.2)	$ (1,736.9)

Stockholders' Equity (Reclassif

Stockholders' Equity (Reclassifications out of Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Cost of goods sold	$ 1,996.2	$ 2,521.5	$ 6,564.2	$ 7,817.1
Interest expense, net	33.9	5.5	65.7	11.8
Reclassification before tax	(28.6)	(333.9)	87.4	(1,082.9)
Income tax provision	11.9	75.3	122.6	306.5
Other expense, net	52.3	84.2	168.4	212.6
Net losses reclassified from accumulated other comprehensive loss	(30)	(280.6)	169.1	(832.4)
Amount Reclassified from Accumulated Other Comprehensive Loss
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Net losses reclassified from accumulated other comprehensive loss	3.9	4.2	11.3	10.6
Amount Reclassified from Accumulated Other Comprehensive Loss | Derivatives
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Reclassification before tax	2.1	2.8	6.2	6.4
Income tax provision	(0.2)	(0.5)	(0.5)	(1.4)
Net losses reclassified from accumulated other comprehensive loss	1.9	2.3	5.7	5
Amount Reclassified from Accumulated Other Comprehensive Loss | Amortization of net actuarial losses
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Other expense, net	2.3	2.2	6.7	6.4
Amount Reclassified from Accumulated Other Comprehensive Loss | Amortization of prior service cost
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Other expense, net	0.4	0.3	1.2	1.1
Amount Reclassified from Accumulated Other Comprehensive Loss | Defined benefit plans
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Reclassification before tax	2.7	2.5	7.9	7.5
Income tax provision	(0.7)	(0.6)	(2.3)	(1.9)
Net losses reclassified from accumulated other comprehensive loss	2	1.9	5.6	5.6
Foreign currency contracts | Amount Reclassified from Accumulated Other Comprehensive Loss | Derivatives
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Cost of goods sold	2.2	3	6.4	6.5
Commodity contracts | Amount Reclassified from Accumulated Other Comprehensive Loss | Derivatives
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Cost of goods sold	0.1	(0.2)	0.3	(0.1)
Treasury rate locks | Amount Reclassified from Accumulated Other Comprehensive Loss | Derivatives
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Interest expense, net	$ (0.2)	$ 0	$ (0.5)	$ 0

Stockholders' Equity (Narrative

Stockholders' Equity (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions		1 Months Ended	2 Months Ended	3 Months Ended			9 Months Ended
	Oct. 24, 2024	Jan. 31, 2024	Dec. 31, 2023	Sep. 30, 2024	Jun. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Nov. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Remaining authorized repurchase amount				$ 57			$ 57
Dividends declared (in dollars per share)				$ 0.29		$ 0.29	$ 3.37	$ 5.81
Subsequent Event
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividends declared (in dollars per share)	$ 0.29
Special Dividends
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividends declared (in dollars per share)					$ 2.50
Accelerated Share Repurchase
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock repurchase program, authorized amount									$ 53
Stock repurchased and retired (in shares)		82,883	371,669
Share Repurchase Program
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock repurchased and retired (in shares)				0			0

Net Income (Loss) Per Common _3

Net Income (Loss) Per Common Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Basic net income (loss) per share:
Net income (loss) attributable to AGCO Corporation and subsidiaries	$ 30	$ 280.6	$ (169.1)	$ 832.4
Weighted average number of common shares outstanding (in shares)	74.6	74.9	74.6	74.9
Basic net income (loss) per share attributable to AGCO Corporation and subsidiaries (in dollars per share)	$ 0.40	$ 3.75	$ (2.27)	$ 11.11
Diluted net income (loss) per share:
Net income (loss) attributable to AGCO Corporation and subsidiaries	$ 30	$ 280.6	$ (169.1)	$ 832.4
Weighted average number of common shares outstanding (in shares)	74.6	74.9	74.6	74.9
Dilutive SSARs, performance share awards and RSUs (in shares)	0.1	0.1	0.1	0.1
Weighted average number of common shares and common share equivalents outstanding for purposes of computing diluted net income per share (in shares)	74.7	75	74.7	75
Diluted net income (loss) per share attributable to AGCO Corporation and subsidiaries (in dollars per share)	$ 0.40	$ 3.74	$ (2.27)	$ 11.10

Income Taxes (Details)

Income Taxes (Details) R$ in Millions, $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2023 BRL (R$)	Dec. 31, 2023 BRL (R$)
Income Tax Contingency [Line Items]
Unrecognized income tax benefits that would affect effective tax rate	$ 398.5	$ 351.2
Indirect favorable effects relating to other tax jurisdictions	125.6	103.9
Accrued or deferred taxes relating to uncertain income tax positions	11.7	9.9
Noncurrent liability for uncertain tax positions	389.4	344.2
Accrued interest and penalties relating to unrecognized tax benefits	32.8	27.9
Reduction to income tax provision for value added tax incentive benefits	31.7
Tax disallowance not including interest and penalties		27.1		R$ 131.5
Amnesty program gross estimate recorded to income tax provision		34.8	R$ 182.6
U.S. tax credits associated with the Amnesty program estimate		8.4
Foreign Tax Authority
Income Tax Contingency [Line Items]
Deposits	27.1	26.9
Refunds received	$ 20	$ 19.7

Pension and Postretirement Be_3

Pension and Postretirement Benefit Plans (Net Pension And Postretirement Cost) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Pension benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 2	$ 2.4	$ 6.2	$ 7.2
Interest cost	7	7.5	20.9	22
Expected return on plan assets	(7.7)	(7.5)	(23.1)	(22.1)
Amortization of net actuarial losses	2.3	2.2	6.7	6.4
Amortization of prior service cost	0.4	0.3	1.1	1
Net periodic cost	4	4.9	11.8	14.5
Postretirement benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost	0	0	0.1	0
Interest cost	0.4	0.4	1.2	1
Amortization of prior service cost	0	0	0.1	0.1
Net periodic cost	$ 0.4	$ 0.4	$ 1.4	$ 1.1

Pension and Postretirement Be_4

Pension and Postretirement Benefit Plans (Narrative) (Details) $ in Millions	9 Months Ended
	Sep. 30, 2024 USD ($)
Pension benefits
Defined Benefit Plan Disclosure [Line Items]
Employer contributions	$ 22
Estimated contributions for current fiscal year	25.4
Postretirement Benefits
Defined Benefit Plan Disclosure [Line Items]
Employer contributions	1.2
Estimated contributions for current fiscal year	$ 1.7

Fair Value of Financial Instr_3

Fair Value of Financial Instruments (Details) € in Millions, $ in Millions	Sep. 30, 2024 USD ($)	Sep. 30, 2024 EUR (€)	Mar. 21, 2024	Dec. 31, 2023 USD ($)	Oct. 06, 2021	Jan. 25, 2019 EUR (€)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	$ 25.8			$ 38.7
Derivative liabilities	10.5			14
Senior Notes | 1.002% EIB Senior term loan due 2025
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate percentage						1.002%
Debt carrying amount	279.3			276.7		€ 250
Senior Notes | 0.800% Senior notes due 2028
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate percentage					0.80%
Debt fair value	608.2	€ 544.5
Debt carrying amount	670.2	€ 600		664
Senior Notes | 5.450% Senior notes due 2027
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate percentage			5.45%
Debt fair value	408.2
Debt carrying amount	400			0
Senior Notes | 5.800% Senior notes due 2034
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate percentage			5.80%
Debt fair value	732.1
Debt carrying amount	700			0
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	25.8			38.7
Derivative liabilities	10.5			14
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	0			0
Derivative liabilities	$ 0			$ 0

Commitments and Contingencies_2

Commitments and Contingencies (Lease Payment Amounts for Operating and Finance Leases) (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Operating Leases
2024	$ 15.3
2024/2025	55.5	$ 52.8
2025/2026	44.4	43
2026/2027	29	32.6
2027/2028	21.5	19.7
2028		14.7
Thereafter		46.5
Thereafter	50.1
Total lease payments	215.8	209.3
Less: imputed interest	(25.3)	(29.5)
Present value of leased liabilities	190.5	179.8
Finance Leases
2024	0.2
2024/2025	0.7	0.7
2025/2026	0.5	0.6
2026/2027	0.5	0.4
2027/2028	0.3	0.3
2028		0.1
Thereafter		5.8
Thereafter	5.8
Total lease payments	8	7.9
Less: imputed interest	(2)	(2)
Present value of leased liabilities	$ 6	$ 5.9

Commitments and Contingencies_3

Commitments and Contingencies (Narrative) (Details) $ in Millions	Sep. 30, 2024 USD ($)
AGCO Capital
Guarantor Obligations [Line Items]
Guarantor obligations, current carrying value	$ 60.5
US and Canada Finance Joint Ventures
Guarantor Obligations [Line Items]
Guarantor obligations, current carrying value	13
Guarantor obligation maximum exposure	$ 193.1

Revenue (Contract Liabilities)

Revenue (Contract Liabilities) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Change in Contract with Customer, Liability [Roll Forward]
Balance at beginning of period	$ 331.7	$ 274.6	$ 310.7	$ 239
Acquisitions			21	0
Advance consideration received	50.4	47.7	156.4	164.2
Reclassified to assets held for sale	(0.4)	0	(10.9)	0
Foreign currency translation	8.9	(5.8)	2.8	(1.1)
Balance at end of period	346.6	284.6	346.6	284.6
Revenue recognized that was recorded as a contract liability at the beginning of the period	35.7	26.9	106.9	96.9
Extended warranty contracts, maintenance services, technology services
Change in Contract with Customer, Liability [Roll Forward]
Revenue recognized during the period for extended warranty contracts	(40)	(25.1)	(117.2)	(76.8)
Grain storage and protein production systems
Change in Contract with Customer, Liability [Roll Forward]
Revenue recognized during the period for extended warranty contracts	$ (4)	$ (6.8)	$ (16.2)	$ (40.7)

Revenue (Remaining Performance

Revenue (Remaining Performance Obligations) (Details) $ in Millions	Sep. 30, 2024 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2024-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 47.3
Remaining performance obligation, expected timing of satisfaction, period	3 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2025-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 117.4
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	$ 94
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	$ 49.7
Remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2028-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 28.6
Remaining performance obligation, expected timing of satisfaction, period

Revenue (Disaggregated Revenue)

Revenue (Disaggregated Revenue) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Disaggregation of Revenue [Line Items]
Net sales	$ 2,599.3	$ 3,455.5	$ 8,774.6	$ 10,611.7
Tractors
Disaggregation of Revenue [Line Items]
Net sales	1,404.5	2,009.1	5,064.6	6,149.3
Replacement parts
Disaggregation of Revenue [Line Items]
Net sales	488.3	467.5	1,410	1,414.9
Grain storage and protein production systems
Disaggregation of Revenue [Line Items]
Net sales	255.5	261.2	756.8	830.1
Combines, application equipment and other machinery
Disaggregation of Revenue [Line Items]
Net sales	451	717.7	1,543.2	2,217.4
United States
Disaggregation of Revenue [Line Items]
Net sales	580.7	744.6	1,828.7	2,276.4
Canada
Disaggregation of Revenue [Line Items]
Net sales	123.2	157.3	375	469.9
Brazil
Disaggregation of Revenue [Line Items]
Net sales	270.6	600.3	756.4	1,537.8
Other South America
Disaggregation of Revenue [Line Items]
Net sales	106.7	115.9	266.5	273
Germany
Disaggregation of Revenue [Line Items]
Net sales	294.5	342.3	1,355.1	1,190.9
France
Disaggregation of Revenue [Line Items]
Net sales	257.4	339.2	975.6	1,014.3
United Kingdom and Ireland
Disaggregation of Revenue [Line Items]
Net sales	126.5	134.3	395.2	482.1
Finland and Scandinavia
Disaggregation of Revenue [Line Items]
Net sales	168.1	181.5	532.9	587.4
Italy
Disaggregation of Revenue [Line Items]
Net sales	74.3	103.4	246.4	337.2
Other Europe
Disaggregation of Revenue [Line Items]
Net sales	315.4	398.2	1,089.8	1,355.2
Middle East and Algeria
Disaggregation of Revenue [Line Items]
Net sales	61.9	88	335.1	314.4
Africa
Disaggregation of Revenue [Line Items]
Net sales	28.9	40.9	75	106.4
Asia
Disaggregation of Revenue [Line Items]
Net sales	64.8	72.7	201.7	261.5
Australia and New Zealand
Disaggregation of Revenue [Line Items]
Net sales	89.7	94.1	230.4	279.1
Mexico, Central America and Caribbean
Disaggregation of Revenue [Line Items]
Net sales	36.6	42.8	110.8	126.1
North America
Disaggregation of Revenue [Line Items]
Net sales	736.1	941.1	2,303.5	2,861
North America | Tractors
Disaggregation of Revenue [Line Items]
Net sales	238.4	347.5	718	995
North America | Replacement parts
Disaggregation of Revenue [Line Items]
Net sales	109.6	107.1	321.3	339.1
North America | Grain storage and protein production systems
Disaggregation of Revenue [Line Items]
Net sales	171.7	169.8	510.8	506.1
North America | Combines, application equipment and other machinery
Disaggregation of Revenue [Line Items]
Net sales	216.4	316.7	753.4	1,020.8
North America | United States
Disaggregation of Revenue [Line Items]
Net sales	580.7	744.6	1,828.7	2,276.4
North America | Canada
Disaggregation of Revenue [Line Items]
Net sales	123.2	157.3	375	469.9
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	32.3	39.2	99.8	114.7
South America
Disaggregation of Revenue [Line Items]
Net sales	381.6	719.8	1,033.9	1,822.2
South America | Tractors
Disaggregation of Revenue [Line Items]
Net sales	224	418.3	604.1	1,072.9
South America | Replacement parts
Disaggregation of Revenue [Line Items]
Net sales	40.6	41.8	119.3	124.1
South America | Grain storage and protein production systems
Disaggregation of Revenue [Line Items]
Net sales	30.8	33	94.2	112.6
South America | Combines, application equipment and other machinery
Disaggregation of Revenue [Line Items]
Net sales	86.2	226.7	216.3	512.6
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	270.6	600.3	756.4	1,537.8
South America | Other South America
Disaggregation of Revenue [Line Items]
Net sales	106.7	115.9	266.5	273
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	4.3	3.6	11	11.4
Europe/Middle East
Disaggregation of Revenue [Line Items]
Net sales	1,298.2	1,586.9	4,930.1	5,281.5
Europe/Middle East | Tractors
Disaggregation of Revenue [Line Items]
Net sales	842.8	1,126.4	3,468.5	3,725.4
Europe/Middle East | Replacement parts
Disaggregation of Revenue [Line Items]
Net sales	311.1	292.6	896	874.9
Europe/Middle East | Grain storage and protein production systems
Disaggregation of Revenue [Line Items]
Net sales	32.2	32.9	87.7	116.7
Europe/Middle East | Combines, application equipment and other machinery
Disaggregation of Revenue [Line Items]
Net sales	112	135	477.9	564.5
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	294.5	342.3	1,355.1	1,190.9
Europe/Middle East | France
Disaggregation of Revenue [Line Items]
Net sales	257.4	339.2	975.6	1,014.3
Europe/Middle East | United Kingdom and Ireland
Disaggregation of Revenue [Line Items]
Net sales	126.5	134.3	395.2	482.1
Europe/Middle East | Finland and Scandinavia
Disaggregation of Revenue [Line Items]
Net sales	168.1	181.5	532.9	587.4
Europe/Middle East | Italy
Disaggregation of Revenue [Line Items]
Net sales	74.3	103.4	246.4	337.2
Europe/Middle East | Other Europe
Disaggregation of Revenue [Line Items]
Net sales	315.4	398.2	1,089.8	1,355.2
Europe/Middle East | Middle East and Algeria
Disaggregation of Revenue [Line Items]
Net sales	61.9	88	335.1	314.4
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	183.4	207.7	507.1	647
Asia/Pacific/Africa | Tractors
Disaggregation of Revenue [Line Items]
Net sales	99.3	116.9	274	356
Asia/Pacific/Africa | Replacement parts
Disaggregation of Revenue [Line Items]
Net sales	27	26	73.4	76.8
Asia/Pacific/Africa | Grain storage and protein production systems
Disaggregation of Revenue [Line Items]
Net sales	20.8	25.5	64.1	94.7
Asia/Pacific/Africa | Combines, application equipment and other machinery
Disaggregation of Revenue [Line Items]
Net sales	36.4	39.3	95.6	119.5
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	28.9	40.9	75	106.4
Asia/Pacific/Africa | Asia
Disaggregation of Revenue [Line Items]
Net sales	64.8	72.7	201.7	261.5
Asia/Pacific/Africa | Australia and New Zealand
Disaggregation of Revenue [Line Items]
Net sales	89.7	94.1	230.4	279.1
Asia/Pacific/Africa | Mexico, Central America and Caribbean
Disaggregation of Revenue [Line Items]
Net sales	$ 0	$ 0	$ 0	$ 0

Segment Reporting (Segment Resu

Segment Reporting (Segment Results By Reportable Segments) (Details) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($) segment	Sep. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)
Segment Reporting Information [Line Items]
Number of operating segments | segment			4
Number of reportable segments | segment			4
Net sales	$ 2,599.3	$ 3,455.5	$ 8,774.6	$ 10,611.7
Income from operations	114.8	423.6	146.7	1,307.3
Depreciation			189.4	168.9
Assets	13,506.8		13,506.8		$ 11,421.2
North America
Segment Reporting Information [Line Items]
Net sales	736.1	941.1	2,303.5	2,861
South America
Segment Reporting Information [Line Items]
Net sales	381.6	719.8	1,033.9	1,822.2
Europe/Middle East
Segment Reporting Information [Line Items]
Net sales	1,298.2	1,586.9	4,930.1	5,281.5
Asia/Pacific/Africa
Segment Reporting Information [Line Items]
Net sales	183.4	207.7	507.1	647
Operating Segments
Segment Reporting Information [Line Items]
Net sales	2,599.3	3,455.5	8,774.6	10,611.7
Income from operations	187.8	508.1	927.5	1,541.6
Depreciation	60.9	58.8	189.4	168.9
Capital expenditures	86.3	120.7	279.3	357.7
Assets	7,450.7		7,450.7		7,170.7
Operating Segments | North America
Segment Reporting Information [Line Items]
Net sales	736.1	941.1	2,303.5	2,861
Income from operations	52.7	139.8	171.8	378.8
Depreciation	15.6	16.2	50.2	46.3
Capital expenditures	10.6	25	46.5	96.7
Assets	1,958.5		1,958.5		1,883.2
Operating Segments | South America
Segment Reporting Information [Line Items]
Net sales	381.6	719.8	1,033.9	1,822.2
Income from operations	45.1	149.8	73.9	370.7
Depreciation	8.5	9.6	27.5	26.3
Capital expenditures	9.5	15.4	33	49.2
Assets	1,261.5		1,261.5		1,394.9
Operating Segments | Europe/Middle East
Segment Reporting Information [Line Items]
Net sales	1,298.2	1,586.9	4,930.1	5,281.5
Income from operations	83	199.3	654.4	733.9
Depreciation	33.2	28.5	99.3	83
Capital expenditures	65.3	79.5	196.9	209.3
Assets	3,336.7		3,336.7		3,017.4
Operating Segments | Asia/Pacific/Africa
Segment Reporting Information [Line Items]
Net sales	183.4	207.7	507.1	647
Income from operations	7	19.2	27.4	58.2
Depreciation	3.6	4.5	12.4	13.3
Capital expenditures	0.9	$ 0.8	2.9	$ 2.5
Assets	$ 894		$ 894		$ 875.2

Segment Reporting (Income From

Segment Reporting (Income From Operations and Total Assets) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Reconciliation of Income From Operations from Segments to Consolidated
Income from operations	$ 114.8	$ 423.6	$ 146.7	$ 1,307.3
Impairment charges	(0.2)	0	(5.3)	0
Loss on business held for sale	(3.2)	0	(497.8)	0
Amortization of intangibles	(8.8)	(14.4)	(54.4)	(43.3)
Restructuring and business optimization expenses	(10.5)	(0.8)	(41.7)	(8.3)
Consolidated income from operations	114.8	423.6	146.7	1,307.3
Reconciliation of Assets from Segment to Consolidated
Assets	13,506.8		13,506.8		$ 11,421.2
Cash and cash equivalents	622.6		622.6		595.5
Investments in affiliates	551.5		551.5		512.7
Intangible assets, net	588.8		588.8		308.8
Goodwill	2,358.4		2,358.4		1,333.4
Operating Segments
Reconciliation of Income From Operations from Segments to Consolidated
Income from operations	187.8	508.1	927.5	1,541.6
Consolidated income from operations	187.8	508.1	927.5	1,541.6
Reconciliation of Assets from Segment to Consolidated
Assets	7,450.7		7,450.7		7,170.7
Segment Reconciling Items
Reconciliation of Income From Operations from Segments to Consolidated
Impairment charges	(0.2)	0	(5.3)	0
Loss on business held for sale	(3.2)	0	(497.8)	0
Corporate expenses	(45.3)	(59.5)	(161.2)	(146.6)
Amortization of intangibles	(8.8)	(14.4)	(54.4)	(43.3)
Stock compensation expense	(5)	(9.8)	(20.4)	(36.1)
Restructuring and business optimization expenses	(10.5)	$ (0.8)	(41.7)	$ (8.3)
Reconciliation of Assets from Segment to Consolidated
Cash and cash equivalents	622.6		622.6		595.5
Investments in affiliates	551.5		551.5		512.7
Deferred tax assets, other current and noncurrent assets	1,547.3		1,547.3		1,500.1
Assets held for sale	387.5		387.5		0
Intangible assets, net	588.8		588.8		308.8
Goodwill	$ 2,358.4		$ 2,358.4		$ 1,333.4