v3.26.1
Environmental Obligations
 6 Months Ended
Jun. 30, 2026
Environmental Remediation Obligations [Abstract]  
Environmental Obligations Environmental Obligations
We have reserves for potential environmental obligations which we consider probable and which we can reasonably estimate. The following table is a roll forward of our total environmental reserves, continuing and discontinued:
(in Millions)Gross
Recoveries (3)
Net
Total environmental reserves at December 31, 2025$705.7 $(13.0)$692.7 
Provision (Benefit)15.6 (0.3)15.3 
(Spending) Recoveries(34.7)— (34.7)
Foreign currency translation adjustments(3.4)— (3.4)
Net change(22.5)(0.3)(22.8)
Total environmental reserves at June 30, 2026$683.2 $(13.3)$669.9 
Environmental reserves, current (1)
$108.2 $(1.2)$107.0 
Environmental reserves, long-term (2)
575.0 (12.1)562.9 
Total environmental reserves at June 30, 2026$683.2 $(13.3)$669.9 
____________________
(1)These amounts are included within Accrued and other liabilities on the consolidated balance sheets.
(2)These amounts are included in Environmental liabilities, continuing and discontinued on the consolidated balance sheets.
(3)These recorded recoveries represent probable realization of claims against U.S. government agencies and are recorded as an offset to our environmental reserves in the consolidated balance sheets.
The estimated reasonably possible environmental loss contingencies, net of expected recoveries, exceed amounts accrued by approximately $273 million at June 30, 2026. This reasonably possible estimate is based upon information available as of the date of the filing, but the actual future losses may be higher given the uncertainties regarding the status of laws, regulations, enforcement policies, the impact of potentially responsible parties, technology and information related to individual sites. Potential environmental obligations that have not been reserved may be material to any one quarter's or year's results of operations in the future. However, we believe any such liability arising from such potential environmental obligations is not likely to have a material adverse effect on our liquidity or financial condition as it may be satisfied over many years.
The table below provides a roll forward of our environmental recoveries representing probable realization of claims against insurance carriers and other third parties. These recoveries are recorded as Prepaid and other current assets and Other assets including long-term receivables, net in the consolidated balance sheets.
(in Millions)December 31, 2025Increase (Decrease) in recoveriesCash receivedJune 30, 2026
Environmental recoveries$6.6 $0.5 $(0.5)$6.6 
Our net environmental provisions relate to costs for the continued cleanup of both continuing and discontinued manufacturing operations from previous years. The net provisions are comprised as follows:
Three Months Ended June 30,Six Months Ended June 30,
(in Millions)2026202520262025
Environmental provisions, net - recorded to liabilities (1)
$8.4 $11.7 $15.3 $17.8 
Environmental provisions, net - recorded to assets (2)
(0.3)(0.2)(0.5)(0.3)
Environmental provision, net$8.1 $11.5 $14.8 $17.5 
Continuing operations (3)
$5.4 $7.4 $9.3 $10.9 
Discontinued operations (4)
2.7 4.1 5.5 6.6 
Environmental provision, net$8.1 $11.5 $14.8 $17.5 
____________________
(1)See above roll forward of our total environmental reserves as presented on the consolidated balance sheets.
(2)See above roll forward of our total environmental recoveries as presented on the consolidated balance sheets.
(3)Recorded as a component of Restructuring and other charges (income) on the consolidated statements of income (loss). See Note 8. Environmental obligations for continuing operations primarily represent obligations at shut down or abandoned facilities within businesses that do not meet the criteria for presentation as discontinued operations.
(4)Recorded as a component of Discontinued operations, net of income taxes on the consolidated statements of income (loss).
A more complete description of our environmental contingencies and the nature of our potential obligations are included in Notes 1 and 10 to our consolidated financial statements in our 2025 Form 10-K. See Note 10 to our consolidated financial statements in our 2025 Form 10-K for a description of significant updates to material environmental sites. Other than as stated below, there have been no significant updates since the information included in our 2025 Form 10-K.
Portland Harbor
FMC is listed as a potentially responsible party ("PRP") in the Portland Harbor Superfund Site ("Portland Harbor"), that consists of the river sediment and upland area of a 10-mile section of the Lower Willamette River in Portland, Oregon that runs through an industrialized area. FMC formerly owned and operated a manufacturing site adjacent to this section of the river and has since sold its interest in this discontinued business. In connection with Portland Harbor, FMC and approximately 100 other parties are involved in a non-judicial allocation process to determine each party’s respective share percentage of the cleanup costs. The allocation process has been ongoing since November 2021 and, in June 2026, a draft allocation report was issued, which included an allocation that was in line with our expectations. A revised allocation report, which may result in different draft allocations for the involved PRPs, is expected to be issued in late 2026 under the current schedule. Because of the uncertainty related to the total cost of the remedy and the ongoing review process of the current allocation report, we are unable to reasonably estimate an amount for our potential exposure of loss at this time. As part of the Administrative Settlement Agreement and Order of Consent entered between FMC and Environmental Protection Agency ("EPA") for the remedial design for the area at and around FMC’s former operations, FMC plans to submit a design report later in 2026 to the EPA, which will include the proposed remedy for this area. This may result in FMC recording a charge for a probable and reasonably estimable amount, which could have a material adverse effect on our consolidated financial position, results of operations in any one reporting period, or liquidity.