$FMC

FMC CORP

CIK:0000037785|SEC Filings

CONSOLIDATED STATEMENTS OF INCOME (LOSS) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Revenue	$ 867.1	$ 1,050.5	$ 1,625.7	$ 1,841.9
Costs and Expenses
Costs of sales and services	525.0	644.2	1,037.0	1,118.9
Gross margin	342.1	406.3	588.7	723.0
Selling, general and administrative expenses	179.1	176.8	364.2	348.8
Research and development expenses	60.4	66.4	125.9	135.1
Restructuring and other charges (income)	222.3	36.7	299.3	54.5
Total costs and expenses	986.8	924.1	1,826.4	1,657.3
Income from continuing operations before non-operating pension, postretirement and other charges (income), interest expense, net and income taxes	(119.7)	126.4	(200.7)	184.6
Non-operating pension, postretirement and other charges (income)	3.3	6.6	6.7	9.8
Interest expense, net	71.3	61.0	136.1	111.1
Income (loss) from continuing operations before income taxes	(194.3)	58.8	(343.5)	63.7
Provision (benefit) for income taxes	(1.5)	14.4	110.6	27.9
Income (loss) from continuing operations	(192.8)	44.4	(454.1)	35.8
Discontinued operations, net of income taxes	6.5	23.4	(13.4)	16.4
Net income (loss)	(186.3)	67.8	(467.5)	52.2
Less: Net income (loss) attributable to noncontrolling interests	0.3	1.1	0.4	1.0
Net income (loss) attributable to FMC stockholders	(186.6)	66.7	(467.9)	51.2
Amounts attributable to FMC stockholders:
Continuing operations, net of income taxes	(193.1)	43.3	(454.5)	34.8
Discontinued operations, net of income taxes	6.5	23.4	(13.4)	16.4
Net income (loss) attributable to FMC stockholders	$ (186.6)	$ 66.7	$ (467.9)	$ 51.2
Basic earnings (loss) per common share attributable to FMC stockholders:
Continuing operations (in dollars per share)	$ (1.54)	$ 0.34	$ (3.62)	$ 0.28
Discontinued operations (in dollars per share)	0.05	0.19	(0.11)	0.13
Net income (loss) attributable to FMC stockholders (in dollars per share)	(1.49)	0.53	(3.73)	0.41
Diluted earnings (loss) per common share attributable to FMC stockholders:
Continuing operations (in dollars per share)	(1.54)	0.34	(3.62)	0.28
Discontinued operations (in dollars per share)	0.05	0.19	(0.11)	0.13
Net income (loss) attributable to FMC stockholders (in dollars per share)	$ (1.49)	$ 0.53	$ (3.73)	$ 0.41

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions

6 Months Ended

Jun. 30, 2026

Jun. 30, 2025

Cash provided (required) by operating activities of continuing operations:

Net income (loss)

$ (467.5)

$ 52.2

Discontinued operations, net of income taxes

13.4

(16.4)

Income (loss) from continuing operations

(454.1)

35.8

Adjustments from income from continuing operations to cash provided (required) by operating activities of continuing operations:

Depreciation and amortization

83.1

87.1

Restructuring and other charges (income)

299.3

54.5

Non-cash adjustments for India held for sale business

43.0

0.0

Deferred income taxes

86.2

22.4

Pension and other postretirement benefits

7.1

7.3

Share-based compensation

10.7

11.1

Changes in operating assets and liabilities, net of effect of acquisitions and divestitures:

Trade receivables, net

79.4

(146.3)

Guarantees of vendor financing

(6.1)

(24.0)

Advance payments from customers

(417.6)

(453.8)

Accrued customer rebates

220.8

304.5

Inventories

(71.2)

(165.5)

Accounts payable, trade and other

(111.7)

130.5

Income taxes

(14.3)

(122.2)

Pension and other postretirement benefit contributions

(4.9)

(2.0)

Environmental spending, continuing, net of recoveries

(19.1)

(16.2)

Restructuring and other spending

^[1]

(92.5)

(72.9)

Change in other operating assets and liabilities, net

^[2]

124.0

(129.4)

Cash provided (required) by operating activities of continuing operations

(237.9)

(479.1)

Cash provided (required) by operating activities of discontinued operations:

Environmental spending, discontinued, net of recoveries

(15.1)

(13.8)

Other discontinued spending

(19.2)

(15.9)

Cash provided (required) by operating activities of discontinued operations

(34.3)

(29.7)

Cash provided (required) by investing activities of continuing operations:

Capital expenditures

(21.9)

(46.6)

Acquisitions, including cost and equity method, net

(0.5)

(2.1)

Proceeds from (disbursements for) the sale of the GSS business

(0.2)

(2.1)

Other investing activities

12.6

(0.6)

Cash provided (required) by investing activities of continuing operations

(10.0)

(51.4)

Cash provided (required) by financing activities of continuing operations:

Increase (decrease) in short-term debt

(478.9)

548.7

Financing fees and premiums

^[3]

(17.8)

(14.6)

Repayments of long-term debt

(500.0)

(500.1)

Proceeds from borrowing of long-term debt

1,200.0

750.0

Acquisition of noncontrolling interest

0.0

(8.6)

Issuances of common stock, net

0.0

0.2

Distributions to minority partners

(3.0)

0.0

Dividends paid

^[4]

(20.2)

(145.5)

Other repurchases of common stock

(1.2)

(1.4)

Cash provided (required) by financing activities of continuing operations

178.9

628.7

Effect of exchange rate changes on cash and cash equivalents

(4.6)

12.4

Increase (decrease) in cash and cash equivalents

(107.9)

80.9

Cash and cash equivalents, beginning of period

584.5

357.3

Cash and cash equivalents, end of period

$ 476.6

$ 438.2

[1]	In addition to cash payments shown in our roll forward of restructuring reserves in Note 8 to our consolidated financial statements included within this Form 10-Q, the restructuring and other spending amount above for the six months ended June 30, 2026 includes spending of $13.7 million primarily in connection with the India held for sale business. For additional detail on restructuring and other charges activities, see Note 8.
[2]	Changes in all periods primarily represent timing of payments associated with all other operating assets and liabilities. The change during the six months ended June 30, 2026 includes $200.0 million of cash received as an initial prepurchase payment in connection with the licensing agreement for rimisoxafen entered into in June 2026. For more details on the transaction, refer to Note 3.
[3]	Includes the make-whole premium paid in connection with the early redemption of certain debt instruments during the six months ended June 30, 2025.
[4]	See Note 13 regarding the quarterly cash dividend.

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Current assets
Cash and cash equivalents	$ 476.6	$ 584.5
Trade receivables, net of allowance of $45.6 in 2026 and $43.3 in 2025	2,070.5	2,062.0
Inventories	1,209.3	1,219.6
Prepaid and other current assets	570.7	481.2
Assets held for sale	401.6	611.7
Total current assets	4,728.7	4,959.0
Investments	20.9	20.4
Property, plant and equipment, net	554.7	707.4
Other intangibles, net	2,307.9	2,361.8
Other assets including long-term receivables, net	398.3	423.0
Deferred income taxes	1,134.3	1,215.6
Total assets	9,144.8	9,687.2
Current liabilities
Short-term debt and current portion of long-term debt	326.3	1,305.1
Accounts payable, trade and other	657.8	771.0
Advance payments from customers	35.5	453.1
Accrued and other liabilities	606.8	574.0
Accrued customer rebates	632.4	417.4
Guarantees of vendor financing	39.6	45.7
Accrued pension and other postretirement benefits, current	3.3	3.3
Income taxes	43.1	24.0
Liabilities held for sale	34.6	161.7
Total current liabilities	2,379.4	3,755.3
Long-term debt, less current portion	3,954.3	2,769.8
Accrued pension and other postretirement benefits, long-term	16.6	21.0
Environmental liabilities, continuing and discontinued	562.9	600.4
Deferred income taxes	50.4	54.1
Other long-term liabilities	520.1	387.7
Commitments and contingent liabilities (Note 18)
Equity
Preferred stock, no par value, authorized $5,000,000 shares; no shares issued in 2026 or 2025	0.0	0.0
Common stock, $0.10 par value, authorized $260,000,000 shares in 2026 and 2025; $185,983,792 shares issued in 2026 and 2025	18.6	18.6
Capital in excess of par value of common stock	976.4	972.0
Retained earnings	3,682.0	4,170.1
Accumulated other comprehensive income (loss)	(324.7)	(368.7)
Treasury stock, common, at cost, $60,756,953 shares in 2026 and $61,049,736 shares in 2025	(2,715.5)	(2,720.5)
Total FMC stockholders’ equity	1,636.8	2,071.5
Noncontrolling interests	24.3	27.4
Total equity	1,661.1	2,098.9
Total liabilities and equity	$ 9,144.8	$ 9,687.2