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Business Segments (Tables)

12 Months Ended

Dec. 31, 2020

Segment Reporting [Abstract]

Schedule of segment reporting by segment

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.

Revenue from external customers by geographic areas

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.

Financial information relating to our operations by geographic area

						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.

Sales by product type

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

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