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AGCO Reports Fourth Quarter Results

Stocks in this article: AGCO


The Company recorded stock compensation expense as follows:


Three Months EndedDecember 31,


Years EndedDecember 31,

  2012         2011   2012         2011
Cost of goods sold $ 0.5 $ 0.5 $ 2.4 $ 1.6
Selling, general and administrative expenses   7.5   6.0   34.6   23.0
Total stock compensation expense $ 8.0 $ 6.5 $ 37.0 $ 24.6


Indebtedness at December 31, 2012 and 2011 consisted of the following:


December 31,2012


December 31,2011

1¼% Convertible senior subordinated notes due 2036 $ 192.1 $ 183.4
4½% Senior term loan due 2016 264.2 259.4
5⅞% Senior notes due 2021 300.0 300.0
Credit Facility 465.0 665.0
Other long-term debt   65.5     62.0  
1,286.8 1,469.8
Less: Current portion of long-term debt   (59.1 )   (60.1 )
Total indebtedness, less current portion $ 1,227.7   $ 1,409.7  

As of December 31, 2012 and 2011, the closing sales price of the Company’s common stock had not exceeded 120% of the conversion price of the 1¼% convertible senior subordinated notes for at least 20 trading days in the 30 consecutive trading days ending December 31, 2012 and 2011, and, therefore, the Company classified the notes as long-term debt. Future classification of the notes between current and long-term debt is dependent on the closing sales price of the Company’s common stock during future quarters.

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