FMC Corp. Files 2023 Annual Report on Form 10-K
Ticker: FMC · Form: 10-K · Filed: Feb 27, 2024 · CIK: 37785
Sentiment: neutral
Topics: FMC Corp, 10-K, Annual Report, Financials, Agriculture
TL;DR
<b>FMC Corporation has submitted its 2023 annual report on Form 10-K, detailing its financial performance and business operations for the fiscal year ending December 31, 2023.</b>
AI Summary
FMC CORP (FMC) filed a Annual Report (10-K) with the SEC on February 27, 2024. FMC Corporation filed its annual report for the fiscal year ending December 31, 2023. The report details financial performance and business operations for the period. Key financial data and disclosures are included as per SEC regulations. The filing covers the period from January 1, 2023, to December 31, 2023. FMC Corporation is headquartered in Philadelphia, PA.
Why It Matters
For investors and stakeholders tracking FMC CORP, this filing contains several important signals. This 10-K filing provides investors and stakeholders with a comprehensive overview of FMC's financial health, strategic initiatives, and risk factors for the past fiscal year. The detailed financial statements and disclosures within the report are crucial for understanding the company's performance, market position, and future outlook in the agricultural sciences sector.
Risk Assessment
Risk Level: medium — FMC CORP shows moderate risk based on this filing. The company's financial performance and future prospects are subject to market, operational, and regulatory risks inherent in the agricultural sciences industry, as detailed in the extensive risk factors section of the 10-K.
Analyst Insight
Review the detailed financial statements and risk factors in the 10-K to assess FMC's performance and potential challenges in the upcoming fiscal year.
Key Numbers
- 2023-12-31 — Fiscal Year End (Reporting period end date)
- 2024-02-27 — Filing Date (Date the report was filed)
- 2023-01-01 — Reporting Period Start (Start date of the reporting period)
- 2022-12-31 — Prior Year End (End date of the prior fiscal year)
Key Players & Entities
- FMC CORP (company) — Filer name
- 2023 (date) — Fiscal year end
- 2024-02-27 (date) — Filing date
- Philadelphia, PA (location) — Business address city and state
- 215-299-6668 (phone) — Business phone number
FAQ
When did FMC CORP file this 10-K?
FMC CORP filed this Annual Report (10-K) with the SEC on February 27, 2024.
What is a 10-K filing?
A 10-K is a comprehensive annual financial report required by the SEC, covering audited financials, business operations, risk factors, and management discussion. This particular 10-K was filed by FMC CORP (FMC).
Where can I read the original 10-K filing from FMC CORP?
You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by FMC CORP.
What are the key takeaways from FMC CORP's 10-K?
FMC CORP filed this 10-K on February 27, 2024. Key takeaways: FMC Corporation filed its annual report for the fiscal year ending December 31, 2023.. The report details financial performance and business operations for the period.. Key financial data and disclosures are included as per SEC regulations..
Is FMC CORP a risky investment based on this filing?
Based on this 10-K, FMC CORP presents a moderate-risk profile. The company's financial performance and future prospects are subject to market, operational, and regulatory risks inherent in the agricultural sciences industry, as detailed in the extensive risk factors section of the 10-K.
What should investors do after reading FMC CORP's 10-K?
Review the detailed financial statements and risk factors in the 10-K to assess FMC's performance and potential challenges in the upcoming fiscal year. The overall sentiment from this filing is neutral.
Risk Factors
- Market Risks [medium — market]: The company faces risks related to market demand, competition, and economic conditions affecting the agricultural sector.
- Operational Risks [medium — operational]: Operational risks include supply chain disruptions, manufacturing issues, and the successful integration of new technologies or products.
- Regulatory Risks [high — regulatory]: FMC operates in a highly regulated industry, facing risks associated with product approvals, environmental regulations, and international trade policies.
- Financial Risks [medium — financial]: Financial risks encompass currency fluctuations, interest rate changes, and the ability to manage debt and capital expenditures effectively.
Key Dates
- 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the 2023 annual financial statements.
- 2024-02-27: 10-K Filing Date — The date FMC Corporation officially submitted its annual report to the SEC.
Filing Stats: 4,297 words · 17 min read · ~14 pages · Grade level 16 · Accepted 2024-02-27 14:51:18
Key Financial Figures
- $0.10 — ich registered Common Stock, par value $0.10 per share FMC New York Stock Exchange
- $590 million — lience of these products. Approximately $590 million in 2023 sales came from products launch
- $146 million — hed in 2023 accounted for approximately $146 million in sales. Our diamides, Rynaxypyr and C
- $1.8 billion — r portfolio, representing approximately $1.8 billion in combined sales and approximately 39
Filing Documents
- fmc-20231231.htm (10-K) — 3387KB
- fmcex1021a123123.htm (EX-10.21A) — 51KB
- fmcex1021b123123.htm (EX-10.21B) — 44KB
- fmcex1021c123123.htm (EX-10.21C) — 42KB
- fmcex1021d123123.htm (EX-10.21D) — 43KB
- fmcex1021e123123.htm (EX-10.21E) — 57KB
- fmcex1021f123123.htm (EX-10.21F) — 80KB
- fmcex1021g123123.htm (EX-10.21G) — 51KB
- fmcex1022123123.htm (EX-10.21H) — 49KB
- fmcex21123123ng.htm (EX-21) — 21KB
- fmcex231123123ng.htm (EX-23.1) — 2KB
- fmcex311123123ng.htm (EX-31.1) — 9KB
- fmcex312123123ng.htm (EX-31.2) — 10KB
- fmcex321123123.htm (EX-32.1) — 4KB
- fmcex322123123.htm (EX-32.2) — 4KB
- fmcex97123123ng.htm (EX-97) — 34KB
- fmc-20231231_g1.jpg (GRAPHIC) — 159KB
- fmc-20231231_g2.jpg (GRAPHIC) — 161KB
- fmc-20231231_g3.jpg (GRAPHIC) — 342KB
- fmc-20231231_g4.jpg (GRAPHIC) — 251KB
- fmc-20231231_g5.jpg (GRAPHIC) — 174KB
- 0000037785-24-000033.txt ( ) — 22786KB
- fmc-20231231.xsd (EX-101.SCH) — 108KB
- fmc-20231231_cal.xml (EX-101.CAL) — 191KB
- fmc-20231231_def.xml (EX-101.DEF) — 553KB
- fmc-20231231_lab.xml (EX-101.LAB) — 1475KB
- fmc-20231231_pre.xml (EX-101.PRE) — 1012KB
- fmc-20231231_htm.xml (XML) — 3895KB
Risk Factors
Item 1A. Risk Factors 12
Unresolved Staff Comments
Item 1B. Unresolved Staff Comments 18
Cybersecurity
Item 1C. Cybersecurity 18
Properties
Item 2. Properties 20
Legal Proceedings
Item 3. Legal Proceedings 20
Mine Safety Disclosures
Item 4. Mine Safety Disclosures 20
Information about our Executive Officers
Item 4A. Information about our Executive Officers 21 PART II Item 5. Market for the Registrant's Common Equity, Related Stockholders Matters and Issuer Purchases of Equity Securities 22
[Reserved]
Item 6. [Reserved] 23
Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 24
Quantitative and Qualitative Disclosures about Market Risk
Item 7A. Quantitative and Qualitative Disclosures about Market Risk 47
Financial Statements and Supplementary Data
Item 8. Financial Statements and Supplementary Data 48
Changes in and Disagreements with Accountants on Accounting and Financial Disclosure
Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 112
Controls and Procedures
Item 9A. Controls and Procedures 112
Other Information
Item 9B. Other Information 112
Disclosure Regarding Foreign Jurisdictions that Prevent Inspections
Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 113 PART III
Directors, Executive Officers and Corporate Governance
Item 10. Directors, Executive Officers and Corporate Governance 114
Executive Compensation
Item 11. Executive Compensation 114
Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters
Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 114
Certain Relationships and Related Transactions, and Director Independence
Item 13. Certain Relationships and Related Transactions, and Director Independence 114
Principal Accountant Fees and Services
Item 14. Principal Accountant Fees and Services 114 PART IV
Exhibits and Financial Statement Schedules
Item 15. Exhibits and Financial Statement Schedules 115
Form 10-K Summary
Item 16. Form 10-K Summary 118
Signatures
Signatures 119 3 Table of Contents PART I FMC Corporation was incorporated in 1928 under Delaware law and has its principal executive offices at 2929 Walnut Street, Philadelphia, Pennsylvania 19104. Throughout this annual report on Form 10-K, except where otherwise stated or indicated by the context, "FMC", the "Company", "We," "Us," or "Our" means FMC Corporation and its consolidated subsidiaries and their predecessors. Copies of the annual, quarterly and current reports we file with the Securities and Exchange Commission ("SEC"), and any amendments to those reports, are available on our website at www.fmc.com as soon as practicable after we furnish such materials to the SEC.
BUSINESS
ITEM 1. BUSINESS General FMC Corporation is a global agricultural sciences company dedicated to helping growers produce food, feed, fiber and fuel for an expanding world population while adapting to a changing environment. FMC's innovative crop protection solutions enable growers, crop advisers and turf and pest management professionals to address their toughest challenges economically without compromising safety or the environment. FMC is committed to discovering new insecticide, herbicide and fungicide active ingredients, product formulations and pioneering technologies that are consistently better for the planet. FMC Strategy We are a tier-one leader and the fifth largest global innovator in the agrochemicals/crop protection market. Our strong competitive position is driven by our technology and innovation, as well as our geographic balance and crop diversity. Our leading conventional and biological technologies that farmers rely on to protect their crops from disease and pests were produced at five active ingredient plants, 16 formulation and packaging sites and sold in approximately 110 countries. Helping farmers grow more food sustainably on less arable land requires a continual stream of new products and technologies. We are investing in one of the agricultural industry's most productive crop protection pipeline, featuring over 20 new active areas in discovery and 18 new active ingredients in development. More than 25 of these molecules feature new modes of action. In addition, we are focused on strengthening our relationship to the grower as a trusted advisor in order to increase awareness of our products and educate growers on the value these products can provide. In response to improved security of supply and increased carrying cost of inventory, distributors, retailers and growers rapidly reduced purchases across all four regions beginning in the latter half of the second quarter of 2023 and persisting through the remainder of the year. This invento