Exhibit 99.2

The Mosaic Company

Selected Calendar Quarter Financial Information

(Unaudited)

			Q2 2019			Q3 2019			Q4 2019			Q1 2020			Q2 2020			Q3 2020			Q4 2020			Q1 2021
Consolidated data (in millions, except per share)
Diluted net earnings (loss) per share			$	(0.60)		$	(0.11)		$	(2.43)		$	(0.54)		$	0.12		$	(0.02)		$	2.17		$	0.41
Notable items impact on earnings per share(a)			(0.72)			(0.19)			(2.14)			(0.48)			0.01			(0.25)			1.60			(0.16)
Adjusted diluted net earnings per share(a)			$	0.12		$	0.08		$	(0.29)		$	(0.06)		$	0.11		$	0.23		$	0.57		$	0.57
Diluted weighted average # of shares outstanding			385.8			385.0			378.8			378.8			381.3			379.1			382.3			382.8
Total Net Sales			$	2,177		$	2,753		$	2,076		$	1,798		$	2,045		$	2,382		$	2,458		$	2,297
Cost of goods sold			1,950			2,473			1,996			1,757			1,788			2,027			2,046			1,862
Gross Margin			$	227		$	280		$	80		$	41		$	257		$	355		$	412		$	435
SG&A			78			78			105			68			95			98			111			102
Other operating (income) expense(p) (r)			391			62			1,170			39			76			159			6			20
Operating earnings			$	(242)		$	140		$	(1,195)		$	(66)		$	86		$	98		$	295		$	313
Interest expense, net			(46)			(43)			(47)			(41)			(49)			(43)			(47)			(45)
Consolidated foreign currency gain/(loss)			21			(54)			31			(214)			34			6			110			(46)
Earnings from consolidated companies before income taxes			(271)			52			(1,214)			(317)			73			66			359			225
Provision for (benefit from) income taxes			(52)			69			(289)			(133)			(3)			38			(480)			60
Earnings (loss) from consolidated companies			$	(219)		$	(17)		$	(925)		$	(184)		$	76		$	28		$	839		$	165
Equity in net earnings (loss) of nonconsolidated companies			(11)			(23)			(25)			(20)			(30)			(32)			(11)			(7)
Less: Net earnings (loss) attributable to noncontrolling interests			3			4			(29)			(1)			(1)			2			—			1
Net earnings (loss) attributable to Mosaic			$	(233)		$	(44)		$	(921)		$	(203)		$	47		$	(6)		$	828		$	157
After tax Notable items included in earnings			$	(277)		$	(72)		$	(810)		$	(182)		$	6		$	(93)		$	610		$	(63)
Gross Margin Rate			10		%	10		%	4		%	2		%	13		%	15		%	17		%	19		%
Effective Tax Rate (including discrete tax)			19		%	133		%	24		%	42		%	(4)		%	58		%	(134)		%	27		%
Discrete Tax benefit (expense)			$	(10)		$	(16)		$	(41)		$	28		$	3		$	(2)		$	580		$	(4)
Depreciation, Depletion and Amortization			$	221		$	211		$	233		$	217		$	215		$	206		$	208		$	209
Accretion Expense			$	13		$	16		$	17		$	18		$	17		$	17		$	17		$	17
Share-Based Compensation Expense			$	7		$	2		$	5		$	(10)		$	8		$	7		$	12		$	15
Notable Items			$	347		$	69		$	1,113		$	285		$	20		$	101		$	(134)		$	50
Adjusted EBITDA(b)			$	360		$	389		$	227		$	234		$	383		$	438		$	508		$	560
Net cash provided by (used in) operating activities			$	507		$	486		$	278		$	190		$	809		$	341		$	238		$	319
Cash paid for interest (net of amount capitalized)			92			14			86			14			88			8			90			1
Cash paid for income taxes (net of refunds)			10			11			(70)			67			(93)			11			21			83
Net cash used in investing activities			$	(359)		$	(327)		$	(347)		$	(270)		$	(258)		$	(267)		$	(395)		$	(309)
Capital expenditures			(295)			(322)			(340)			(264)			(258)			(265)			(385)			(289)
Net cash (used in) provided by financing activities			$	(143)		$	105		$	(66)		$	698		$	(530)		$	(219)		$	(233)		$	122
Cash dividends paid			(19)			(19)			(19)			(19)			(19)			(19)			(19)			87
Effect of exchange rate changes on cash			$	11		$	(24)		$	9		$	(69)		$	(11)		$	(2)		$	39		$	(20)
Net change in cash and cash equivalents			$	16		$	240		$	(126)		$	549		$	10		$	(147)		$	(351)		$	112
Short-term debt			$	94		$	88		$	42		$	1,008		$	610		$	216		$	—		$	15
Long-term debt (including current portion)			4,585			4,576			4,572			4,572			4,587			4,578			4,578			4,470
Cash & cash equivalents			402			641			519			1,069			1,073			923			574			692
Net debt			$	4,277		$	4,023		$	4,095		$	4,511		$	4,124		$	3,871		$	4,004		$	3,793
Segment Contributions (in millions)
Phosphates			$	917		$	820		$	698		$	619		$	763		$	745		$	990		$	1,001
Potash			599			616			395			442			555			464			559			477
Mosaic Fertilizantes			833			1,388			864			731			787			1,140			823			764
Corporate and Other(c)			(172)			(71)			119			6			(60)			33			86			55
Total net sales			$	2,177		$	2,753		$	2,076		$	1,798		$	2,045		$	2,382		$	2,458		$	2,297
Phosphates			$	(393)		$	(70)		$	(712)		$	(107)		$	(59)		$	(115)		$	134		$	153
Potash			174			148			(452)			94			124			87			95			125
Mosaic Fertilizantes			2			98			5			29			77			144			97			90
Corporate and Other(c)			(25)			(36)			(36)			(82)			(56)			(18)			(31)			(55)
Consolidated operating earnings			$	(242)		$	140		$	(1,195)		$	(66)		$	86		$	98		$	295		$	313

Phosphates(d)			2,184			2,194			2,011			1,919			2,235			2,064			2,316			2,062
Potash(d)			2,163			2,321			1,499			1,899			2,559			2,264			2,675			1,980
Mosaic Fertilizantes			2,101			3,424			2,192			2,077			2,558			3,588			2,341			2,064
Corporate and Other			333			348			538			223			501			648			629			475
Total finished product tonnes sold ('000 tonnes)			6,781			8,287			6,240			6,118			7,853			8,564			7,961			6,581
Sales of Performance Products ('000 tonnes)(e)			785			1,138			1,003			704			985			1,094			1,267			1,023

The Mosaic Company - Phosphates Segment

Selected Calendar Quarter Financial Information

(Unaudited)

			Q2 2019			Q3 2019			Q4 2019			Q1 2020			Q2 2020			Q3 2020			Q4 2020			Q1 2021
Net Sales and Gross Margin (in millions, except per tonne)
Segment income statement
Net Sales			$	917		$	820		$	698		$	619		$	763		$	745		$	990		$	1,001
Cost of Goods Sold			929			839			804			702			745			723			821			828
Gross Margin			$	(12)		$	(19)		$	(106)		$	(83)		$	18		$	22		$	169		$	173
Notable Items Included in Gross Margin			(5)			(7)			(16)			(5)			(8)			—			—			—
Adjusted Gross Margin(b)			$	(7)		$	(12)		$	(90)		$	(78)		$	26		$	22		$	169		$	173
SG&A			7			9			11			9			10			12			7			10
Other operating (income) expense(r)			374			42			595			15			67			125			28			10
Operating Earnings			$	(393)		$	(70)		$	(712)		$	(107)		$	(59)		$	(115)		$	134		$	153
Plus: Depreciation, Depletion and Amortization			105			109			113			114			113			108			107			102
Plus: Accretion Expense			10			12			12			13			11			12			12			12
Plus: Foreign Exchange Gain (Loss)			(2)			4			(2)			14			2			1			(1)			6
Plus: Other Income (Expense)			—			12			—			5			—			4			2			5
Less: Earnings (loss) from Consolidated Noncontrolling Interests			5			5			(29)			—			—			2			2			3
Plus: Notables Items			371			6			593			(11)			57			110			14			(4)
Adjusted EBITDA(b)			$	86		$	68		$	33		$	28		$	124		$	118		$	266		$	271
Capital expenditures			$	122		$	124		$	179		$	138		$	122		$	115		$	163		$	153
Gross Margin $ / tonne of finished product			$	(7)		$	(10)		$	(52)		$	(43)		$	7		$	11		$	73		$	84
Adjusted Gross Margin $ / tonne of finished product			$	(5)		$	(6)		$	(45)		$	(41)		$	12		$	11		$	73		$	84
Gross margin as a percent of sales			(1)		%	(2)		%	(15)		%	(13)		%	2		%	3		%	17		%	17		%
Freight included in finished goods (in millions)			$	91		$	86		$	94		$	76		$	86		$	85		$	109		$	97
Idle/Turnaround costs (excluding notable items)			$	43		$	18		$	39		$	35		$	13		$	25		$	15		$	41
Operating Data
Sales volumes ('000 tonnes)(d)
DAP/MAP			1,275			1,310			1,276			1,332			1,166			1,134			1,304			1,210
Performance & other products(f)			766			769			608			486			957			822			877			724
Other products(i)			144			114			127			101			112			108			135			128
Total Finished Product(d)			2,184			2,194			2,011			1,919			2,235			2,064			2,316			2,062
DAP selling price (fob plant)(t)			$	345		$	310		$	266		$	274		$	287		$	307		$	363		$	426
Average finished product selling price (destination)(g)			$	398		$	355		$	329		$	317		$	338		$	354		$	422		$	477
Production Volumes ('000 tonnes)
Total tonnes produced(h)			2,050			2,111			1,924			1,861			2,117			2,038			2,144			1,911
Operating Rate			85		%	87		%	79		%	75		%	85		%	82		%	86		%	77		%
Raw Materials
Ammonia used in production			$	300		$	308		$	272		$	276		$	309		$	311		$	319		$	281
% manufactured ammonia used in production			20		%	15		%	4		%	17		%	19		%	23		%	31		%	23		%
Sulfur used in production			$	951		$	985		$	886		$	816		$	966		$	907		$	946		$	841
% prilled sulfur used in production			17		%	16		%	14		%	13		%	17		%	14		%	19		%	27		%
Realized costs ($/tonne)
Ammonia (tonne)(j)			$	337		$	306		$	305		$	309		$	289		$	273		$	277		$	316
Sulfur (long ton)(k)			$	138		$	119		$	104		$	78		$	76		$	86		$	93		$	119
Blended rock			$	63		$	65		$	61		$	62		$	61		$	60		$	61		$	61
Phosphate cash conversion costs, production / tonne(w)			$	65		$	63		$	62		$	65		$	58		$	63		$	63		$	63
Cash costs of U.S. mined rock/production tonne(x)			$	39		$	39		$	38		$	35		$	35		$	39		$	40		$	36
ARO cash spending (in millions)			$	26		$	29		$	24		$	21		$	26		$	28		$	29		$	32

MWSPC equity earnings (loss)			$	(12)		$	(23)		$	(26)		$	(21)		$	(31)		$	(34)		$	(11)		$	(8)
MWSPC total sales tonnes (DAP/MAP/NPK)			482			505			623			546			540			487			565			612

The Mosaic Company - Potash Segment

Selected Calendar Quarter Financial Information

(Unaudited)

			Q2 2019			Q3 2019			Q4 2019			Q1 2020			Q2 2020			Q3 2020			Q4 2020			Q1 2021
Net Sales and Gross Margin (in millions, except per tonne)
Segment income statement
Net Sales			$	599		$	616		$	395		$	442		$	555		$	464		$	559		$	477
Cost of Goods Sold			418			458			303			333			424			356			439			337
Gross Margin			$	181		$	158		$	92		$	109		$	131		$	108		$	120		$	140
Notable Items Included in Gross Margin			—			(12)			(22)			(22)			(22)			(19)			(16)			(22)
Adjusted Gross Margin(b)			$	181		$	170		$	114		$	131		$	153		$	127		$	136		$	162
SG&A			5			6			6			5			6			6			8			7
Other operating (income) expense(p)			2			4			538			10			1			15			17			8
Operating Earnings			$	174		$	148		$	(452)		$	94		$	124		$	87		$	95		$	125
Plus: Depreciation, Depletion and Amortization			79			63			76			70			70			69			72			80
Plus: Accretion Expense			1			3			2			2			3			2			2			2
Plus: Foreign Exchange Gain (Loss)			26			(20)			27			(150)			66			34			77			15
Plus: Other Income (Expense)			—			1			—			1			2			1			—			—
Plus: Notable Items			(26)			20			506			158			(66)			(24)			(67)			(10)
Adjusted EBITDA(b)			$	254		$	215		$	159		$	175		$	199		$	169		$	179		$	212
Capital expenditures			$	130		$	153		$	117		$	98		$	111		$	119		$	149		$	97
Gross Margin $ / tonne of finished product			$	84		$	68		$	61		$	57		$	51		$	48		$	45		$	71
Adjusted Gross Margin $ / tonne of finished product			$	84		$	73		$	76		$	69		$	60		$	56		$	51		$	82
Gross margin as a percent of sales			30		%	26		%	23		%	25		%	24		%	23		%	21		%	29		%
Supplemental Cost Information
Canadian resource taxes			$	56		$	58		$	13		$	32		$	52		$	26		$	36		$	35
Royalties			$	11		$	9		$	7		$	10		$	9		$	8		$	9		$	9
Brine inflow expenses(s)			$	36		$	32		$	33		$	33		$	26		$	28		$	24		$	23
Freight(l)			$	68		$	79		$	62		$	74		$	85		$	73		$	81		$	78
Idle/Turnaround costs (excluding notable items)			$	25		$	49		$	40		$	3		$	—		$	15		$	27		$	2
Operating Data
Sales volumes ('000 tonnes)(d)
MOP			1,919			2,099			1,313			1,709			2,282			2,030			2,435			1,747
Performance & other products(m)			231			210			173			177			264			223			228			221
Other products(i)			14			11			13			13			12			11			12			12
Total Finished Product(d)			2,163			2,321			1,499			1,899			2,559			2,264			2,675			1,980
Crop Nutrients North America			761			906			625			832			977			837			942			876
Crop Nutrients International			1,277			1,283			745			947			1,447			1,327			1,612			967
Non-Agricultural			125			132			129			120			135			100			121			137
Total Finished Product(d)			2,163			2,321			1,499			1,899			2,559			2,264			2,675			1,980
MOP selling price (fob mine)(u)			$	246		$	235		$	224		$	200		$	180		$	170		$	176		$	200
Average finished product selling price (destination)(g)			$	277		$	266		$	264		$	233		$	217		$	205		$	209		$	241
Production Volumes ('000 tonnes)
Production Volume			2,180			1,771			1,663			2,068			2,198			2,111			2,056			2,285
Operating Rate			83		%	67		%	63		%	85		%	91		%	87		%	85		%	94		%
MOP cash costs of production including brine / production tonne(n)			$	60		$	61		$	56		$	57		$	56		$	52		$	59		$	64

MOP cash costs of brine management / production tonne			$	28		$	24		$	21		$	21		$	15		$	16		$	21		$	15
ARO cash spending (in millions)			$	2		$	1		$	3		$	1		$	2		$	2		$	3		$	1
Average CAD / USD			$	1.338		$	1.320		$	1.320		$	1.390		$	1.387		$	1.333		$	1.304		$	1.266

The Mosaic Company - Mosaic Fertilizantes Segment

Selected Calendar Quarter Financial Information

(Unaudited)

			Q2 2019			Q3 2019			Q4 2019			Q1 2020			Q2 2020			Q3 2020			Q4 2020			Q1 2021
Net Sales and Gross Margin (in millions, except per tonne)
Segment income statement
Net Sales			$	833		$	1,388		$	864		$	731		$	787		$	1,140		$	823		$	764
Cost of Goods Sold			798			1,256			794			665			686			963			747			661
Gross Margin			$	35		$	132		$	70		$	66		$	101		$	177		$	76		$	103
Notable Items Included in Gross Margin			—			—			—			—			—			—			—			—
Adjusted Gross Margin(b)			$	35		$	132		$	70		$	66		$	101		$	177		$	76		$	103
SG&A			22			23			34			24			19			17			21			18
Other operating (income) expense			11			11			31			13			5			16			(42)			(5)
Operating Earnings			$	2		$	98		$	5		$	29		$	77		$	144		$	97		$	90
Plus: Depreciation, Depletion and Amortization			32			34			38			28			27			25			25			23
Plus: Accretion Expense			2			1			3			3			3			3			3			3
Plus: Foreign Exchange Gain (Loss)			(3)			(39)			7			(81)			(27)			(3)			9			(33)
Plus: Other Income (Expense)			(2)			(2)			(2)			(1)			(2)			(1)			(1)			(1)
Less: Earnings from Consolidated Noncontrolling Interests			—			1			1			—			—			1			1			—
Plus: Notable Items			7			35			28			90			31			14			(17)			22
Adjusted EBITDA(b)			$	38		$	126		$	78		$	68		$	109		$	181		$	115		$	104
Capital expenditures			$	41		$	43		$	46		$	25		$	20		$	28		$	72		$	39
Gross Margin $ / tonne of finished product			$	17		$	39		$	32		$	32		$	39		$	49		$	32		$	50
Adjusted Gross Margin $ / tonne of finished product			$	17		$	39		$	32		$	32		$	39		$	49		$	32		$	50
Gross margin as a percent of sales			4		%	10		%	8		%	9		%	13		%	16		%	9		%	13		%
Idle/Turnaround costs (excluding notable items)			$	36		$	28		$	16		$	4		$	36		$	7		$	16		5
Operating Data
Sales volumes ('000 tonnes)
Phosphate produced in Brazil			763			846			584			699			1,161			1,343			610			536
Potash produced in Brazil			81			88			87			75			71			85			74			63
Purchased nutrients for distribution(q)			1,257			2,490			1,521			1,303			1,326			2,160			1,657			1,465
Total Finished Product			2,101			3,424			2,192			2,077			2,558			3,588			2,341			2,064
Sales of Performance Products ('000 tonnes)(e)			220			490			340			150			301			518			357			172
Brazil MAP price (Brazil production delivered price to third party)			$	446		$	406		$	365		$	330		$	314		$	366		$	384		$	421
Average finished product selling price (destination)(g)			$	396		$	405		$	394		$	352		$	308		$	318		$	352		$	370
Production Volumes ('000 tonnes)
MAP			73			198			275			289			306			284			219			235
TSP			132			45			102			107			126			135			99			107
SSP			280			263			341			279			331			335			274			301
DCP			86			113			105			128			140			125			126			106
NPK			8			41			29			45			61			37			34			54
Total phosphate tonnes produced			579			660			852			848			964			916			752			803
MOP			108			105			134			106			113			109			110			82
Phosphate operating rate			56		%	62		%	79		%	77		%	88		%	83		%	67		%	73		%
Potash operating rate			64		%	62		%	79		%	77		%	67		%	64		%	65		%	49		%
Realized Costs ($/tonne)
Ammonia/tonne			$	378		$	375		$	332		$	352		$	327		$	329		$	338		$	381

Sulfur (long ton)			$	196		$	178		$	150		$	117		$	100		$	107		$	113		$	124
Blended rock			$	106		$	103		$	94		$	75		$	67		$	65		$	71		$	73
Purchases ('000 tonnes)
DAP/MAP from Mosaic			301			201			176			154			193			82			109			64
MicroEssentials® from Mosaic			356			294			83			117			407			373			189			203
Potash from Mosaic/Canpotex			558			868			192			293			708			622			383			489
Phosphate cash conversion costs in BRL, production / tonne(w)			R$379			R$351			R$289			R$309			R$265			R$302			R$376			R$353
Potash cash conversion costs in BRL, production / tonne			R$613			R$665			R$552			R$589			R$661			R$810			R$835			R$879
Mined rock costs in BRL, cash produced / tonne			R$336			R$299			R$342			R$312			R$314			R$324			R$375			R$392
ARO cash spending (in millions)			$	2		$	2		$	3		$	1		$	3		$	4.4		$	6		$	5
Average BRL / USD			$	3.920		$	3.969		$	4.115		$	4.451		$	5.376		$	5.373		$	5.403		$	5.470

The Mosaic Company - Corporate and Other Segment

Selected Calendar Quarter Financial Information

(Unaudited)

			Q2 2019			Q3 2019			Q4 2019			Q1 2020			Q2 2020			Q3 2020			Q4 2020			Q1 2021
Net Sales and Gross Margin (in millions)
Segment income statement
Net Sales			$	(172)		$	(71)		$	119		$	6		$	(60)		$	33		$	86		$	55
Cost of Goods Sold			(195)			(80)			95			57			(67)			(15)			39			36
Gross Margin (Loss)			$	23		$	9		$	24		$	(51)		$	7		$	48		$	47		$	19
Notable items Included in Gross Margin			7			(7)			15			(51)			9			25			39			(8)
Adjusted Gross Margin (Loss)(b)			$	16		$	16		$	9		$	—		$	(2)		$	23		$	8		$	27
SG&A			44			40			54			30			60			63			75			67
Other operating (income) expense			4			5			6			1			3			3			3			7
Operating Earnings (Loss)			$	(25)		$	(36)		$	(36)		$	(82)		$	(56)		$	(18)		$	(31)		$	(55)
Plus: Depreciation, Depletion and Amortization			5			5			6			5			5			4			4			4
Plus: Share-Based Compensation Expense			7			2			5			(10)			8			7			12			15
Plus: Foreign Exchange Gain (Loss)			—			1			(1)			3			(7)			(26)			25			(34)
Plus: Other Income (Expense)			(2)			(2)			(1)			—			4			—			—			—
Less: Earnings (Loss) from Consolidated Noncontrolling Interests			(2)			(2)			(2)			(1)			(1)			(2)			(2)			(1)
Plus: Notable Items			(5)			8			(14)			48			(2)			1			(64)			42
Adjusted EBITDA(b)			$	(18)		$	(20)		$	(43)		$	(37)		$	(49)		$	(30)		$	(52)		$	(27)
Elimination of profit in inventory income (loss) included in COGS			$	13		$	28		$	9		$	2		$	(13)		$	14		$	(2)		$	(3)
Unrealized gain (loss) on derivatives included in COGS			$	7		$	(6)		$	15		$	(51)		$	9		$	24		$	39		$	(8)
Operating Data
Sales volumes ('000 tonnes)			333			348			538			223			501			648			629			475
Sales of Performance Products ('000 tonnes)			36			20			36			27			32			21			30			29
Average finished product selling price (destination)(g)			$	399		$	385		$	398		$	343		$	321		$	310		$	317		$	336
Purchases ('000 tonnes)
DAP/MAP from Mosaic			52			89			50			—			—			—			—			—
MicroEssentials® from Mosaic			15			—			22			—			—			11			12			—
Potash from Mosaic/Canpotex			253			180			153			367			404			253			363			400

The Mosaic Company

Selected Calendar Quarter Financial Information

(Unaudited)

Notable Items

Q1 2021
Description			Segment			Line Item						Amount (in millions)						Tax Effect(v) (in millions)						EPS Impact (per basic share)
Foreign currency transaction gain (loss)			Consolidated			Foreign currency transaction gain (loss)						$	(46)					$	10					$	(0.09)
Unrealized gain (loss) on derivatives			Corporate and Other			Cost of goods sold						(8)						2						(0.02)
Closed and indefinitely idled facility costs			Phosphates			Other operating income (expense)						(10)						3						(0.02)
Closed and indefinitely idled facility costs			Potash			Other operating income (expense)						(5)						2						(0.01)
Accelerated depreciation			Potash			Cost of goods sold						(22)						5						(0.04)
Pre-acquisition reserve adjustment			Mosaic Fertilizantes			Other operating income (expense)						11						(3)						0.02
Realized gain on RCRA Trust Securities			Phosphates			Other non-operating income (expense)						3						(1)						0.01
Discrete tax items			Consolidated			(Provision for) benefit from income taxes						—						(4)						(0.01)
Total Notable Items												$	(77)					$	14					$	(0.16)

Q4 2020
Description			Segment			Line Item						Amount (in millions)						Tax Effect(v) (in millions)						EPS Impact (per basic share)
Foreign currency transaction gain (loss)			Consolidated			Foreign currency transaction gain (loss)						$	110					$	(26)					$	0.22
Unrealized gain (loss) on derivatives			Corporate and Other			Cost of goods sold						39						(9)						0.08
Pre-acquisition contingencies			Mosaic Fertilizantes			Other operating income (expense)						8						(2)						0.02
Accelerated depreciation			Potash			Cost of goods sold						(16)						4						(0.03)
Closed and indefinitely idled facility costs			Phosphates			Other operating income (expense)						(10)						2						(0.03)
Closed and indefinitely idled facility costs			Potash			Other operating income (expense)						(7)						2						(0.01)
Discrete tax items			Consolidated			(Provision for) benefit from income taxes						—						580						1.52
ARO adjustment			Phosphates			Other operating income (expense)						(5)						1						(0.01)
Tax Rate Adjustment			Consolidated			(Provision for) benefit from income taxes						—						(59)						(0.15)
ARO Adjustment			Potash			Other operating income (expense)						(3)						1						(0.01)
Total Notable Items												$	116					$	494					$	1.60

Q3 2020
Description			Segment			Line Item						Amount (in millions)						Tax Effect(v) (in millions)						EPS Impact (per basic share)
Foreign currency transaction gain (loss)			Consolidated			Foreign currency transaction gain (loss)						$	6					$	(2)					$	0.01
Unrealized gain (loss) on derivatives			Corporate and Other			Cost of goods sold						25						(10)						0.03
Legal contingencies			Mosaic Fertilizantes			Other operating income (expense)						(8)						3						(0.01)
Accelerated depreciation			Potash			Cost of goods sold						(19)						7						(0.03)
Closed and indefinitely idled facility costs			Phosphates			Other operating income (expense)						(11)						4						(0.02)
Closed and indefinitely idled facility costs			Potash			Other operating income (expense)						(6)						2						(0.01)
Realized gain on RCRA Trust Securities			Phosphates			Other non-operating income (expense)						6						(2)						0.01
Discrete tax items			Consolidated			(Provision for) benefit from income taxes						—						(2)						(0.01)
ARO adjustment			Phosphates			Other operating income (expense)						(73)						28						(0.12)
Tax Rate Adjustment			Consolidated			(Provision for) benefit from income taxes						—						(14)						(0.04)
ARO adjustment			Mosaic Fertilizantes			Other operating income (expense)						(3)						1						—
New Wales environmental reserve			Phosphates			Other operating income (expense)						(35)						14						(0.05)
Integration costs			Consolidated			Other operating income (expense)						(7)						3						(0.01)
Total Notable Items												$	(125)					$	32					$	(0.25)

Q2 2020
Description			Segment			Line Item						Amount (in millions)						Tax Effect(v) (in millions)						EPS Impact (per basic share)
Foreign currency transaction gain (loss)			Consolidated			Foreign currency transaction gain (loss)						$	34					$	(15)					$	0.05
Unrealized gain (loss) on derivatives			Corporate and Other			Cost of goods sold						9						(4)						0.01
Accelerated depreciation			Potash			Cost of goods sold						(22)						9						(0.03)
Closed and indefinitely idled facility costs			Phosphates			Other operating income (expense)						(12)						5						(0.02)
Closed and indefinitely idled facility costs			Potash			Other operating income (expense)						(7)						3						(0.01)
Realized gain on RCRA Trust Securities			Phosphates			Other non-operating income (expense)						3						(1)						—
Discrete tax items			Consolidated			(Provision for) benefit from income taxes						—						3						0.01
Government mandated mine shutdown			Phosphates			Cost of goods sold						(8)						3						(0.01)
Legal settlement			Potash			Other operating income (expense)						7						(3)						0.01
Write-down of assets			Mosaic Fertilizantes			Other operating income (expense)						(4)						2						(0.01)
ARO adjustment - closed facilities			Phosphates			Other operating income (expense)						(50)						22						(0.07)
Tax Rate Change			Consolidated			(Provision for) benefit from income taxes						—						32						0.08
Total Notable Items												$	(50)					$	56					$	0.01

Q1 2020
Description			Segment			Line Item						Amount (in millions)						Tax Effect(v) (in millions)						EPS Impact (per basic share)
Foreign currency transaction gain (loss)			Consolidated			Foreign currency transaction gain (loss)						$	(214)					$	70					$	(0.38)
Unrealized gain (loss) on derivatives			Corporate and Other			Cost of goods sold						(51)						17						(0.09)
Legal contingencies			Mosaic Fertilizantes			Other operating income (expense)						(9)						3						(0.02)
Accelerated depreciation			Potash			Cost of goods sold						(22)						7						(0.03)
Closed and indefinitely idled facility costs			Phosphates			Other operating income (expense)						(8)						2						(0.02)
Closed and indefinitely idled facility costs			Potash			Other operating income (expense)						(8)						3						(0.02)
Realized gain on RCRA Trust Securities			Phosphates			Other non-operating income (expense)						5						(2)						0.01
Discrete tax items			Consolidated			(Provision for) benefit from income taxes						—						28						0.08
Government mandated mine shutdown			Phosphates			Cost of goods sold						(5)						2						(0.01)
Total Notable Items												$	(312)					$	130					$	(0.48)

Q4 2019
Description			Segment			Line Item						Amount (in millions)						Tax Effect(v) (in millions)						EPS Impact (per basic share)
Foreign currency transaction gain (loss)			Consolidated			Foreign currency transaction gain (loss)						$	31					$	(18)					$	0.03
Unrealized gain (loss) on derivatives			Corporate and Other			Cost of goods sold						15						(9)						0.01
Louisiana gypstack costs			Phosphates			Cost of goods sold						(2)						1						—
Plant City closure costs			Phosphates			Other operating income (expense)						13						—						0.03
ARO adjustment			Phosphates			Other operating income (expense)						1						(1)						—
Discrete tax items			Consolidated			(Provision for) benefit from income taxes						—						(41)						(0.11)
Accelerated depreciation			Potash			Cost of goods sold						(22)						17						(0.01)
ARO adjustment			Potash			Other operating income (expense)						(3)						2						—
Asset write-off			Mosaic Fertilizantes			Other operating income (expense)						(4)						3						—
Goodwill impairment			Phosphates			Other operating income (expense)						(589)						80						(1.34)
Inventory lower of cost or market			Phosphates			Cost of goods sold						(14)						9						(0.01)
Legal contingencies			Mosaic Fertilizantes			Other operating income (expense)						(31)						19						(0.03)
Colonsay write-off			Potash			Restructuring and other (expense)						(530)						263						(0.71)
Total Notable Items												$	(1,135)					$	325					$	(2.14)

Note: The tax effect of Plant City closure costs includes an income tax component of 23.7%, the goodwill impairment includes an income tax componenet of 13.5% and the Colonsay write-off includes an income tax component of 49.7% which are calculated at the rate specific to those earnings.

Q3 2019
Description			Segment			Line Item						Amount (in millions)						Tax Effect(v) (in millions)						EPS Impact (per basic share)
Foreign currency transaction gain (loss)			Consolidated			Foreign currency transaction gain (loss)						$	(54)					$	16					$	(0.10)
Unrealized gain (loss) on derivatives			Corporate and Other			Cost of goods sold						(7)						2						(0.01)
Louisiana gypstack costs			Phosphates			Cost of goods sold						(7)						2						(0.01)
Integration costs			Corporate and Other			Other operating income (expense)						(2)						1						—
Plant City closure costs			Phosphates			Other operating income (expense)						15						(4)						0.03
ARO adjustment			Phosphates			Other operating income (expense)						(31)						9						(0.06)
Discrete tax items			Consolidated			(Provision for) benefit from income taxes						—						(16)						(0.05)
ARO adjustment			Mosaic Fertilizantes			Other operating income (expense)						4						(1)						0.01
Realized gain on RCRA Trust Securities			Phosphates			Other non-operating income (expense)						13						(4)						0.02
Accelerated depreciation			Potash			Cost of goods sold						(12)						4						(0.02)
Total Notable Items												$	(81)					$	9					$	(0.19)

Note: The tax effect of Plant City closure costs includes an income tax component of 22.9%, which is calculated at the rate specific to those earnings.

Q2 2019
Description			Segment			Line Item						Amount (in millions)						Tax Effect(v) (in millions)						EPS Impact (per diluted share)
Foreign currency transaction gain (loss)			Consolidated			Foreign currency transaction gain (loss)						$	21					$	(5)					$	0.04
Unrealized gain (loss) on derivatives			Corporate and Other			Cost of goods sold						7						(2)						0.01
Louisiana gypstack costs			Phosphates			Cost of goods sold						(5)						1						(0.01)
Integration costs			Corporate and Other			Other operating income (expense)						(3)						1						(0.01)
Costs to capture synergies			Mosaic Fertilizantes			Other operating income (expense)						(4)						1						(0.01)
Earn-out obligation			Corporate and Other			Other operating income (expense)						1						—						—
Plant City closure costs			Phosphates			Other operating income (expense)						(369)						85						(0.73)
ARO adjustment			Phosphates			Other operating income (expense)						(3)						1						(0.01)
Miski Mayo flood insurance proceeds			Phosphates			Other operating income (expense)						8						(2)						0.02
Discrete tax items			Consolidated			(Provision for) benefit from income taxes						—						(10)						(0.02)
Total Notable Items												$	(347)					$	70					$	(0.72)

Footnotes

(a)Notable items impact on Earnings Per Share is calculated as notable item amount plus income tax effect, based on expected annual effective tax rate, divided by diluted weighted average shares. Adjusted Diluted Net Earnings per Share is defined as diluted net earnings (loss) per share excluding the impact of notable items. See "Non-GAAP Reconciliations".

(b)See definitions of Adjusted EBITDA and Adjusted Gross Margin under “Non-GAAP Reconciliations”.

(c)Includes elimination of intersegment sales.

(d)Finished product sales volumes include intersegment sales.

(e)Includes MicroEssentials, K-Mag, Aspire and Sus-Terra sales tonnes.

(f)Includes MicroEssentials and performance products.

(g)Average price of all finished products sold by Potash, Phosphates, Mosaic Fertilizantes and India/China.

(h)Includes crop nutrient dry concentrates and animal feed ingredients.

(i)Includes finished goods sales of feed and other products.

(j)Amounts are representative of our average ammonia costs in cost of goods sold.

(k)Amounts are representative of our average sulfur costs in cost of goods sold.

(l)Includes inbound freight, outbound freight and warehousing costs on K-Mag, animal feed and domestic MOP sales.

(m)Includes K-Mag, and Aspire finished performance products.

(n)MOP cash costs of production are reflective of actual costs during the period excluding brine management costs, depreciation, depletion, accretion, carbon-based and Canadian resource tax, idle and turnaround costs. Total Production costs for MOP production excludes K-Mag costs, Aspire raw material costs and incremental Aspire operating costs.

(o)Includes industrial and feed sales.

(p)Includes $530 million related to the Colonsay write-off in Q4 of 2019.

(q)Includes sales volumes of phosphate and potash nutrients purchased from other Mosaic segments and Canpotex.

(r)Inlcudes a loss of $369 million related to costs for the permanent closure of Plant City in Q2 2019 and $589 million related to the goodwill impairment in Q4 of 2019.

(s)Starting in Q3 2019, includes approximately $6 million per quarter of accelerated depreciation included as a notable item.

(t)Includes intercompany sales.

(u)Total production costs less depreciation, ARO costs including accretion and idle and turnaround costs divided by metric tonnes of finished phosphate production in the period. 

(v)Tax impact is based on our expected annual effective tax rate.

(w)Total production cost less depreciation/depletion, ARO costs including accretion and idle and turnaround costs divided by metric tonnes of rock produced in the period.

The Mosaic Company

Selected Calendar Quarter Financial Information

(Unaudited)

Non-GAAP Financial Measures

In addition to financial measures prepared in accordance with U.S. generally accepted accounting principles (“GAAP”), Mosaic has presented in this Selected Calendar Quarter Financial Information certain non-GAAP financial measures, or measures calculated based on non-GAAP financial measures, including: Adjusted Diluted Net Earnings Per Share, Consolidated Adjusted EBITDA, Segment Adjusted EBITDA, and Adjusted Gross Margin. Generally, a non-GAAP financial measure is a supplemental numerical measure of a company's performance, financial position or cash flows that either excludes or includes amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with GAAP. Each of the non-GAAP financial measures we present is determined as described below.

The non-GAAP financial measures we present should not be considered as substitutes for, or superior to, measures of financial performance prepared in accordance with GAAP. In addition, because these non-GAAP measures, as presented, are not determined in accordance with GAAP, they are thus susceptible to varying interpretations and calculations and may not be comparable to other similarly titled measures of other companies.

Adjusted Diluted Net Earnings Per Share

Adjusted diluted net earnings per share is defined as diluted net earnings per share, excluding the impact of notable items. Notable items impact on diluted net earnings per share is calculated as notable item amount plus income tax effect, based on expected annual effective tax rate, divided by diluted weighted average shares. Management believes that adjusted diluted net earnings per share provides securities analysts, investors and others, in addition to management, with useful supplemental information regarding our performance by excluding certain items that may not be indicative of or are unrelated to our core operating results. Management utilizes adjusted diluted net earnings per share in analyzing and assessing Mosaic’s overall performance, for financial and operating decision-making, and to forecast and plan for the future periods. Adjusted diluted net earnings per share also assists our management in comparing our and our competitors' operating results. Reconciliations of adjusted diluted net earnings per share to diluted net earnings per share for the periods presented are provided under “Consolidated Data” on the first page of this Selected Calendar Quarter Financial Information.

Consolidated Adjusted EBITDA

Consolidated Adjusted EBITDA is defined as consolidated Net Income (Loss) before net interest expense, depreciation, depletion and amortization, asset retirement obligation accretion, share-based compensation expense and provision for/(benefit from) income taxes less equity in net earnings (loss) of nonconsolidated companies, net of dividends. Consolidated Adjusted EBITDA is also adjusted for notable items that management excludes in analyzing our performance. Consolidated Adjusted EBITDA is a non-GAAP financial measure that we provide to assist securities analysts, investors, lenders and others in their comparisons of operational performance, valuation and debt capacity across companies with differing capital, tax and legal structures. Consolidated Adjusted EBITDA should not be considered as an alternative to, or more meaningful than, consolidated Net Income (Loss) as a measure of operating performance. A reconciliation of Consolidated Net Income (Loss) to Consolidated Adjusted EBITDA is provided below.

(in millions)			Q2 2019			Q3 2019			Q4 2019			Q1 2020			Q2 2020			Q3 2020			Q4 2020			Q1 2021
Consolidated Net Income (Loss)			$	(233)		$	(44)		$	(921)		$	(203)		$	47		$	(6)		$	828		$	157
Less: Consolidated Interest Expense, Net			(46)			(43)			(47)			(41)			(49)			(43)			(47)			(45)
Plus: Consolidated Depreciation, Depletion & Amortization			221			211			233			217			215			206			208			209
Plus: Accretion Expense			13			16			17			17			17			17			15			17
Plus: Share-Based Compensation Expense (Benefit)			7			2			5			(10)			8			7			12			15
Plus: Consolidated Provision for (Benefit from) Income Taxes			(52)			69			(289)			(133)			(3)			38			(480)			60
Less: Equity in net earnings (loss) of nonconsolidated companies, net of dividends			(11)			(23)			(25)			(20)			(30)			(32)			(12)			(7)
Plus: Notable Items			347			69			1,113			285			20			101			(134)			50
Consolidated Adjusted EBITDA			$	360		$	389		$	227		$	234		$	383		$	438		$	508		$	560

Segment Adjusted EBITDA

Adjusted EBITDA presented at the segment level is defined as the related segment's operating earnings (loss) plus depreciation, depletion and amortization plus asset retirement obligation accretion plus foreign exchange gain (loss) plus other income (expense) less equity earnings (loss) from noncontrolling interests. Adjusted EBITDA is also adjusted for notable items that management excludes in analyzing our performance. We provide these non-GAAP financial measures because we believe they are relevant and useful to securities analysts, investors and others because they are part of our internal management reporting and planning process, and our management uses these measures to evaluate the operational performance and valuation of our segments. Management also uses these measures as a method of comparing segment, performance with that of its competitors. Segment Adjusted EBITDA should not be considered as alternatives to, or more meaningful than, segment Operating Earnings (Loss) and segment Operating Earnings (Loss)/sales tonne, respectively, as measures of operating performance. Management believes Operating Earnings (Loss) and segment Operating Earnings (Loss)/sales tonne, respectively, are the most directly comparable GAAP measures because we do not allocate taxes on a segment basis. Reconciliations of Segment Adjusted EBITDA to segment Operating Earnings (Loss) and segment Operating (Loss) Earnings/sales tonne, respectively, are provided as part of each segment's Selected Calendar Quarter Financial Information.

Adjusted Gross Margin

Adjusted gross margin is defined as gross margin excluding the impact of notable items. Management believes the adjusted measures provides security analysts, investors, management & others with useful supplemental information regarding our performance by excluding certain items that may not be indicative of, or are unrelated to, our core operating results. Management utilizes adjusted gross margin in analyzing and assessing Mosaic's overall performance for financial and operating decision-making and to forecast and plan for future periods.