v3.26.1
Revenue Recognition
 6 Months Ended
Jun. 30, 2026
Revenue from Contract with Customer [Abstract]  
Revenue Recognition Revenue Recognition
Disaggregation of revenue
We disaggregate revenue from contracts with customers by geographical areas and major product categories. We have three major agricultural product categories: insecticides, herbicides, and fungicides. Plant health, which includes biological products, is also included in the below table.
The following table provides information about disaggregated revenue by major geographical region:
Three Months Ended June 30,Six Months Ended June 30,
(in Millions)2026202520262025
North America$248.8 $320.9 $446.4 $507.3 
Latin America277.9 310.4 454.9 517.2 
Europe, Middle East & Africa (EMEA)214.1 260.4 521.0 533.2 
Asia126.3 158.8 203.4 284.2 
Total Revenue$867.1 $1,050.5 $1,625.7 $1,841.9 
The following table provides information about disaggregated revenue by major product category:
Three Months Ended June 30,Six Months Ended June 30,
(in Millions)2026202520262025
Insecticides$423.5 $525.3 $764.1 $928.0 
Herbicides318.2 376.0 631.9 648.2 
Fungicides88.4 80.4 144.2 133.1 
Plant Health36.3 44.9 84.1 90.1 
Other0.7 23.9 1.4 42.5 
Total Revenue$867.1 $1,050.5 $1,625.7 $1,841.9 
We earn revenue from the sale of a wide range of products to a diversified base of customers around the world. We develop, market and sell all three major classes of crop protection chemicals (insecticides, herbicides and fungicides) as well as biologicals, crop nutrition, and seed treatment products, which we group as plant health. These products are used in agriculture to enhance crop yield and quality by controlling a broad spectrum of insects, weeds and disease. The majority of our product lines consist of insecticides and herbicides, with a smaller portfolio of fungicides mainly used in high value crop segments. We are investing in plant health which includes our growing biological products. Our insecticides are used to control a wide spectrum of pests, while our herbicide portfolio primarily targets a large variety of difficult-to-control weeds. Products in the other category include various agricultural products such as smaller classes of pesticides, growth promoters, and other miscellaneous revenue sources.
For additional detail on revenue recognition policies and procedures, see Note 3 to our consolidated financial statements included within our 2025 Form 10-K.
Contract Asset and Contract Liability Balances
We satisfy our obligations by transferring goods and services in exchange for consideration from customers. The timing of performance sometimes differs from the timing the associated consideration is received from the customer, thus resulting in the recognition of a contract asset or contract liability. We recognize a contract liability if the customer's payment of consideration is received prior to completion of our related performance obligation.
The following table presents the opening and closing balances of our receivables, net of allowances and contract liabilities from contracts with customers:
(in Millions)Balance as of June 30, 2026Balance as of December 31, 2025Increase (Decrease)
Receivables from contracts with customers, net of allowances (1)
$2,121.4 $2,137.1 $(15.7)
Contract liabilities: Advance payments from customers (2)
235.5 453.1 (217.6)
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(1)Amount includes $2,070.5 million of trade receivables and $50.9 million of net long-term customer receivables as of June 30, 2026. See Note 5 for more information.
(2)Amount includes $35.5 million of short-term advance payments from customers and $200.0 million of long-term advance payments from customers as of June 30, 2026. The long-term advance payments from customers includes the deferred revenue recognized in connection with the licensing agreement discussed further below and recorded in Other long-term liabilities on the consolidated balance sheet. The amount of revenue recognized in the six months ended June 30, 2026 that was included in the opening contract liability balance is $417.6 million.
The balance of receivables from contracts with customers listed in the table above include both current trade receivables and long-term receivables, net of allowance for doubtful accounts. The change in allowance for doubtful accounts for both current trade receivables and long-term receivables for any period is representative of the impairment or the write-off of receivables. Refer to Note 5 for further information.
In June 2026, we entered into a co-exclusive strategic supply and license agreement with Corteva, Inc. Under the terms of the agreement, which extends through the next decade, FMC retains all rights of ownership to rimisoxafen and will supply Corteva, Inc. with the active ingredient. Both companies will develop and commercialize their own exclusive premix formulations for the corn and soybean markets across North and South America, while FMC will continue to develop additional rimisoxafen-based products for other crops and geographies globally. In connection with the closing of the transaction, Corteva made an initial prepurchase cash payment of $200.0 million for rimisoxafen to be supplied by FMC, which was recognized as deferred revenue and was included in Other long-term liabilities on the consolidated balance sheet as of June 30, 2026.
We periodically enter into prepayment arrangements with customers and receive advance payments for product to be delivered in future periods. We recognize these prepayments as a liability under Advance payments from customers on the consolidated balance sheets when they are received. Revenue associated with advance payments is recognized as shipments are made and transfer of control to the customer takes place.