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Business Segments
 12 Months Ended
Dec. 31, 2022
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. Certain selling, general and administrative costs that are not controllable by the business segments are included within Corporate, Eliminations and Other.
Segment information for the years 2022, 2021 and 2020 is as follows:
(in millions)PhosphatesPotashMosaic Fertilizantes
Corporate,
Eliminations
and Other (a)
Total
Year Ended December 31, 2022
Net sales to external customers$4,546.4 $5,122.8 $8,287.2 $1,168.8 $19,125.2 
Intersegment net sales1,637.8 85.7 — (1,723.5)— 
Net sales6,184.2 5,208.5 8,287.2 (554.7)19,125.2 
Gross margin1,759.0 2,843.0 1,045.6 108.2 5,755.8 
Canadian resource taxes— 927.9 — — 927.9 
Gross margin (excluding Canadian resource taxes)1,759.0 3,770.9 1,045.6 108.2 6,683.7 
Operating earnings 1,347.2 2,767.7 910.4 (240.0)4,785.3 
Capital expenditures631.8 281.6 306.4 27.5 1,247.3 
Depreciation, depletion and amortization expense485.1 307.3 125.5 16.0 933.9 
Equity in net earnings of nonconsolidated companies192.4 — — 3.6 196.0 
Year Ended December 31, 2021
Net sales to external customers$3,889.7 $2,587.9 $5,088.5 $791.3 $12,357.4 
Intersegment net sales1,033.2 38.9 — (1,072.1)— 
Net sales4,922.9 2,626.8 5,088.5 (280.8)12,357.4 
Gross margin1,305.4 1,057.5 842.7 (5.3)3,200.3 
Canadian resource taxes— 259.5 — — 259.5 
Gross margin (excluding Canadian resource taxes)1,305.4 1,317.0 842.7 (5.3)3,459.8 
Impairment, restructuring and other expenses— 158.1 — — 158.1 
Operating earnings1,179.8 836.6 745.9 (293.8)2,468.5 
Capital expenditures649.9 410.1 216.1 12.5 1,288.6 
Depreciation, depletion and amortization expense428.7 267.8 101.2 15.2 812.9 
Equity in net earnings of nonconsolidated companies5.4 — — 2.4 7.8 
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 sales572.9 30.7 — (603.6)— 
Net sales3,116.4 2,019.3 3,481.6 64.4 8,681.7 
Gross margin125.5 468.3 419.6 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 expenditures538.1 478.2 144.9 9.4 1,170.6 
Depreciation, depletion and amortization expense443.4 282.4 105.7 16.1 847.6 
Equity in net (loss) earnings of nonconsolidated companies(94.1)— — 0.3 (93.8)
Total assets as of December 31, 2022$9,570.5 $9,582.2 $5,562.7 $(1,329.4)$23,386.0 
Total assets as of December 31, 20218,776.4 8,312.8 4,908.2 39.0 22,036.4 
Total assets as of December 31, 20207,022.1 7,614.8 4,127.7 1,025.2 19,789.8 
______________________________
(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, 2022, 2021 and 2020, distribution operations in India and China had revenues of $1.1 billion, $730.1 million, and $639.4 million, respectively and gross margins of $130.9 million, $141.6 million, and $58.7 million, respectively.
Financial information relating to our operations by geographic area is as follows:
Years Ended December 31,
(in millions)202220212020
Net sales(a):
Brazil$8,045.5 $5,002.2 $3,377.1 
Canpotex(b)
2,961.6 1,089.6 795.2 
Canada966.0 794.9 547.5 
China648.2 396.0 334.2 
India512.5 340.3 318.4 
Paraguay227.1 113.8 94.3 
Argentina224.6 101.3 121.0 
Mexico165.5 93.6 77.1 
Japan162.0 112.4 58.8 
Colombia125.9 135.1 93.4 
Australia101.6 64.8 85.1 
Peru70.2 40.0 62.0 
Dominican Republic34.1 29.8 17.1 
Honduras31.2 22.3 31.0 
Thailand6.3 18.1 21.2 
Other100.8 73.9 75.0 
Total international countries14,383.1 8,428.1 6,108.4 
United States4,742.1 3,929.3 2,573.3 
Consolidated$19,125.2 $12,357.4 $8,681.7 
______________________________
(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: 28% to customers based in Brazil, 14% to customers based in China, 12% to customers based in Indonesia, 8% to customers based in India, and 38% to customers based in the rest of the world.
December 31,
(in millions)20222021
Long-lived assets:
Canada$4,716.2 $5,012.2 
Brazil2,153.5 2,011.0 
Other1,432.5 1,285.0 
Total international countries8,302.2 8,308.2 
United States6,658.6 6,233.6 
Consolidated$14,960.8 $14,541.8 
Excluded from the table above as of December 31, 2022 and 2021, are goodwill of $1,116.3 million and $1,172.2 million and deferred income tax assets of $752.3 million and $997.1 million, respectively.
Net sales by product type for the years 2022, 2021 and 2020 are as follows:
Years Ended December 31,
(in millions)202220212020
Sales by product type:
Phosphate Crop Nutrients$4,465.0 $3,552.7 $2,477.0 
Potash Crop Nutrients6,484.1 3,367.9 2,566.7 
Crop Nutrient Blends2,970.0 1,800.0 1,232.7 
Performance Products(a)
3,025.8 1,973.6 1,370.8 
Phosphate Rock125.9 75.5 42.0 
Other(b)
2,054.4 1,587.7 992.5 
$19,125.2 $12,357.4 $8,681.7 
______________________________
(a)Includes sales of MicroEssentials®, K-Mag®, Aspire® and Sus-Terra™
(b)Includes sales of industrial potash, feed products, nitrogen and other products.