XML 71 R49.htm IDEA: XBRL DOCUMENT
v3.20.4

Business Segments | 12 Months Ended
--- | ---
Dec. 31, 2020
Segment Reporting [Abstract] |
Business Segments | BUSINESS SEGMENTS The reportable segments are determined by management based upon factors such as products and services, production processes, technologies, market dynamics, and for which segment financial information is available for our chief operating decision maker. For a description of our business segments see Note 1 of our Notes to Consolidated Financial Statements. We evaluate performance based on the operating earnings of the respective business segments, which includes certain allocations of corporate selling, general and administrative expenses. The segment results may not represent the actual results that would be expected if they were independent, stand-alone businesses. Intersegment eliminations, including profit on intersegment sales, mark-to-market gains/losses on derivatives, debt expenses, Streamsong Resort® results of operations and the results of the China and India distribution business are included within Corporate, Eliminations and Other. As of January 1, 2019, certain selling, general and administrative costs that are not controllable by the business segments are no longer allocated to segments and are included within Corporate, Eliminations and Other. Our operating results for the year ended December 31, 2018 were recast to reflect this change. Segment information for the years 2020, 2019 and 2018 is as follows:
(in millions) |  | Phosphates |  | Potash |  | Mosaic Fertilizantes |  | Corporate, Eliminations and Other (a) |  | Total
Year Ended December 31, 2020 |  |  |  |  |  |  |  |  |  |
Net sales to external customers |  | $ | 2,543.5 |  |  | $ | 1,988.6 |  |  | $ | 3,481.6 |  |  | $ | 668.0 |  |  | $ | 8,681.7 |
Intersegment net sales |  | 572.9 |  |  | 30.7 |  |  | — |  |  | (603.6) |  |  | — |
Net sales |  | 3,116.4 |  |  | 2,019.3 |  |  | 3,481.6 |  |  | 64.4 |  |  | 8,681.7 |
Gross margin |  | 125.5 |  |  | 468.3 |  |  | 419.6 |  |  | 51.5 |  |  | 1,064.9 |
Canadian resource taxes |  | — |  |  | 146.1 |  |  | — |  |  | — |  |  | 146.1 |
Gross margin (excluding Canadian resource taxes) |  | 125.5 |  |  | 614.4 |  |  | 419.6 |  |  | 51.5 |  |  | 1,211.0 |
Operating earnings |  | (147.1) |  |  | 401.5 |  |  | 346.5 |  |  | (188.0) |  |  | 412.9 |
Capital expenditures |  | 538.1 |  |  | 478.2 |  |  | 144.9 |  |  | 9.4 |  |  | 1,170.6 |
Depreciation, depletion and amortization expense |  | 443.4 |  |  | 282.4 |  |  | 105.7 |  |  | 16.1 |  |  | 847.6 |
Equity in net (loss) earnings of nonconsolidated companies |  | (94.1) |  |  | — |  |  | — |  |  | 0.3 |  |  | (93.8) |
Year Ended December 31, 2019 |  |  |  |  |  |  |  |  |  |
Net sales to external customers |  | $ | 2,416.6 |  |  | $ | 2,081.7 |  |  | $ | 3,782.8 |  |  | $ | 625.2 |  |  | $ | 8,906.3 |
Intersegment net sales |  | 824.7 |  |  | 32.1 |  |  | — |  |  | (856.8) |  |  | — |
Net sales |  | 3,241.3 |  |  | 2,113.8 |  |  | 3,782.8 |  |  | (231.6) |  |  | 8,906.3 |
Gross margin |  | (82.3) |  |  | 616.8 |  |  | 290.1 |  |  | 72.7 |  |  | 897.3 |
Canadian resource taxes |  | — |  |  | 174.6 |  |  | — |  |  | — |  |  | 174.6 |
Gross margin (excluding Canadian resource taxes) |  | (82.3) |  |  | 791.4 |  |  | 290.1 |  |  | 72.7 |  |  | 1,071.9 |
Impairment, restructuring and other expenses |  | 931.6 |  |  | 530.5 |  |  | — |  |  | — |  |  | 1,462.1 |
Operating earnings |  | (1,131.1) |  |  | 45.8 |  |  | 132.5 |  |  | (142.1) |  |  | (1,094.9) |
Capital expenditures |  | 545.2 |  |  | 540.1 |  |  | 182.3 |  |  | 4.6 |  |  | 1,272.2 |
Depreciation, depletion and amortization expense |  | 430.1 |  |  | 296.3 |  |  | 135.8 |  |  | 20.5 |  |  | 882.7 |
Equity in net (loss) earnings of nonconsolidated companies |  | (60.1) |  |  | — |  |  | — |  |  | 0.7 |  |  | (59.4) |
Year Ended December 31, 2018 |  |  |  |  |  |  |  |  |  |
Net sales to external customers |  | $ | 3,106.3 |  |  | $ | 2,154.8 |  |  | $ | 3,747.1 |  |  | $ | 579.1 |  |  | $ | 9,587.3 |
Intersegment net sales |  | 780.0 |  |  | 19.1 |  |  | — |  |  | (799.1) |  |  | — |
Net sales |  | 3,886.3 |  |  | 2,173.9 |  |  | 3,747.1 |  |  | (220.0) |  |  | 9,587.3 |
Gross margin |  | 581.5 |  |  | 597.2 |  |  | 382.9 |  |  | (63.2) |  |  | 1,498.4 |
Canadian resource taxes |  | — |  |  | 159.4 |  |  | — |  |  | — |  |  | 159.4 |
Gross margin (excluding Canadian resource taxes) |  | 581.5 |  |  | 756.6 |  |  | 382.9 |  |  | (63.2) |  |  | 1,657.8 |
Operating earnings |  | 471.4 |  |  | 510.8 |  |  | 240.6 |  |  | (294.5) |  |  | 928.3 |
Capital expenditures |  | 393.9 |  |  | 410.5 |  |  | 148.2 |  |  | 1.9 |  |  | 954.5 |
Depreciation, depletion and amortization expense |  | 403.7 |  |  | 301.5 |  |  | 158.5 |  |  | 20.2 |  |  | 883.9 |
Equity in net (loss) earnings of nonconsolidated companies |  | (4.6) |  |  | — |  |  | — |  |  | 0.1 |  |  | (4.5) |
Total assets as of December 31, 2020 |  | $ | 7,022.1 |  |  | $ | 7,614.8 |  |  | $ | 4,127.7 |  |  | $ | 1,025.2 |  |  | $ | 19,789.8 |
Total assets as of December 31, 2019(b) |  | 7,183.5 |  |  | 7,219.2 |  |  | 3,974.9 |  |  | 920.9 |  |  | 19,298.5 |
Total assets as of December 31, 2018 |  | 7,877.3 |  |  | 7,763.1 |  |  | 3,952.4 |  |  | 526.4 |  |  | 20,119.2 |
______________________________ (a)The "Corporate, Eliminations and Other" category includes the results of our ancillary distribution operations in India and China. For the years ended December 31, 2020, 2019 and 2018, distribution operations in India and China had revenues of $639.4 million, $575.6 million, and $533.9 million, respectively and gross margins of $58.7 million, $27.3 million, and $42.8 million, respectively. (b)In 2019, we recorded an impairment of goodwill in Phosphates of $588.6 million, which reduced the total asset balance. Financial information relating to our operations by geographic area is as follows:
| Years Ended December 31,
(in millions) | 2020 |  | 2019 |  | 2018
Net sales(a): |  |  |  |  |
Brazil | $ | 3,377.1 |  |  | $ | 3,675.1 |  |  | $ | 3,727.7 |
Canpotex(b) | 795.2 |  |  | 952.5 |  |  | 820.2 |
Canada | 547.5 |  |  | 602.0 |  |  | 639.0 |
China | 334.2 |  |  | 225.3 |  |  | 231.7 |
India | 318.4 |  |  | 347.1 |  |  | 304.4 |
Argentina | 121.0 |  |  | 116.3 |  |  | 70.5 |
Paraguay | 94.3 |  |  | 102.9 |  |  | 100.7 |
Colombia | 93.4 |  |  | 82.8 |  |  | 101.5 |
Australia | 85.1 |  |  | 91.3 |  |  | 136.0 |
Mexico | 77.1 |  |  | 117.8 |  |  | 133.9 |
Peru | 62.0 |  |  | 89.3 |  |  | 82.6 |
Japan | 58.8 |  |  | 33.0 |  |  | 92.2 |
Honduras | 31.0 |  |  | 11.7 |  |  | 28.7 |
Thailand | 21.2 |  |  | 24.8 |  |  | 28.1 |
Other | 92.1 |  |  | 101.6 |  |  | 118.4 |
Total international countries | 6,108.4 |  |  | 6,573.5 |  |  | 6,615.6 |
United States | 2,573.3 |  |  | 2,332.8 |  |  | 2,971.7 |
Consolidated | $ | 8,681.7 |  |  | $ | 8,906.3 |  |  | $ | 9,587.3 |
______________________________ (a)Revenues are attributed to countries based on location of customer. (b)Canpotex is the export association of two Saskatchewan potash producers. The net sales of potash from Mosaic to Canpotex included in our consolidated financial statements in the Net Sales line represent Mosaic’s sales of potash to Canpotex, and are recognized upon delivery to the unrelated third-party customer. Canpotex sales to the ultimate third-party customers are approximately; 25% to customers based in Brazil, 22% to customers based in China, 14% to customers based in India, 8% to customers based in Indonesia and 31% to customers based in the rest of the world.
|  | December 31,
(in millions) |  | 2020 |  | 2019
Long-lived assets: |  |  |  |
Canada |  | $ | 4,998.5 |  |  | $ | 4,553.7 |
Brazil |  | 1,904.1 |  |  | 1,934.6 |
Other |  | 1,324.8 |  |  | 1,476.1 |
Total international countries |  | 8,227.4 |  |  | 7,964.4 |
United States |  | 5,688.8 |  |  | 5,943.6 |
Consolidated |  | $ | 13,916.2 |  |  | $ | 13,908.0 |
Excluded from the table above as of December 31, 2020 and 2019, are goodwill of $1,173.0 million and $1,156.9 million and deferred income taxes of $1,179.4 million and $515.4 million, respectively. Net sales by product type for the years 2020, 2019 and 2018 are as follows:
| Years Ended December 31,
(in millions) | 2020 |  | 2019 |  | 2018
Sales by product type: |  |  |  |  |
Phosphate Crop Nutrients | $ | 2,477.0 |  |  | $ | 2,541.3 |  |  | $ | 2,956.8 |
Potash Crop Nutrients | 2,566.7 |  |  | 2,716.8 |  |  | 2,755.9 |
Crop Nutrient Blends | 1,232.7 |  |  | 1,415.7 |  |  | 1,418.9 |
Performance Products(a) | 1,370.8 |  |  | 1,193.6 |  |  | 1,438.8 |
Phosphate Rock | 42.0 |  |  | 53.6 |  |  | 53.0 |
Other(b) | 992.5 |  |  | 985.3 |  |  | 963.9 |
| $ | 8,681.7 |  |  | $ | 8,906.3 |  |  | $ | 9,587.3 |
______________________________ (a)Includes sales of MicroEssentials®, K-Mag®, and Aspire®. (b)Includes sales of industrial potash

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration