Investor Presentaiton
14
Free Cash Flow ($M) 1
Normalized FCF Shows Growth,
On Track to Deliver 5-Year Plan
Normalized FCF Trend (2018 – 2023)
FMC
An Agricultural
Sciences Company
$1,000
90%
80%
65%
70%
$750
62%
60%
~$600
50%
~$500
$500
38%
40%
30%
$250
18%
20%
10%
0%
2018
2019
2020T* 2021GT** 2022
2023²
(1) Denotes non-GAAP financial term. Refer to non-GAAP financial terms at the beginning of this presentation.
Λ Recast 2018 excludes the former Lithium segment.
*
2020T accounts for certain timing factors that increased FCF by ~$44 million.
**
2021GT starts with the midpoint of guidance and accounts for certain timing factors that decrease FCF by ~$25 million.
(2) Implied 2023 FCF at targeted 7% -9% CAGR for EBITDA through 2023.
FCF Conversion
Normalization Factors
Real estate asset sale in 2020 will
not repeat ($24 million, net of tax)
Lump sum payment for
environmental liability was
expected to occur in Q4 2020 and
was delayed to Q1 2021 ($21
million shift)
Other 2020-21 Factors
Transformation spending
expected to decline substantially
in 2021 with completion of SAP
implementation
Capital additions abnormally low
in 2020, returning to more normal
levels in 2021View entire presentation