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Business Segments (Tables)

12 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

Schedule of segment reporting by segment

Segment information for the years 2023, 2022 and 2021 is as follows:

(in millions)						Phosphates						Potash						Mosaic Fertilizantes						Corporate, Eliminations and Other (a)						Total
Year Ended December 31, 2023
Net sales to external customers						$	3,894.5					$	3,203.1					$	5,684.7					$	913.8					$	13,696.1
Intersegment net sales						829.8						30.5						—						(860.3)						—
Net sales						4,724.3						3,233.6						5,684.7						53.5						13,696.1
Gross margin						702.1						1,215.0						211.6						81.9						2,210.6
Canadian resource taxes						—						403.4						—						—						403.4
Gross margin (excluding Canadian resource taxes)						702.1						1,618.4						211.6						81.9						2,614.0
Operating earnings						375.7						1,151.5						74.5						(263.6)						1,338.1
Capital expenditures						625.9						357.4						336.3						82.8						1,402.4
Depreciation, depletion and amortization expense						485.7						299.0						165.5						10.4						960.6
Equity in net earnings of nonconsolidated companies						56.4						—						—						3.9						60.3
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 sales						1,637.8						85.7						—						(1,723.5)						—
Net sales						6,184.2						5,208.5						8,287.2						(554.7)						19,125.2
Gross margin						1,759.0						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 expenditures						631.8						281.6						306.4						27.5						1,247.3
Depreciation, depletion and amortization expense						485.1						307.3						125.5						16.0						933.9
Equity in net earnings of nonconsolidated companies						192.4						—						—						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 sales						1,033.2						38.9						—						(1,072.1)						—
Net sales						4,922.9						2,626.8						5,088.5						(280.8)						12,357.4
Gross margin						1,305.4						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 earnings						1,179.8						836.6						745.9						(293.8)						2,468.5
Capital expenditures						649.9						410.1						216.1						12.5						1,288.6
Depreciation, depletion and amortization expense						428.7						267.8						101.2						15.2						812.9
Equity in net earnings of nonconsolidated companies						5.4						—						—						2.4						7.8
Total assets as of December 31, 2023						$	10,295.9					$	8,971.9					$	5,256.3					$	(1,491.3)					$	23,032.8
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, 2021						8,776.4						8,312.8						4,908.2						39.0						22,036.4

______________________________

(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, 2023, 2022 and 2021, distribution operations in India and China had revenues of $898.9 million, $1.1 billion, and $730.1 million, respectively, and gross margins of $(16.8) million, $130.9 million, and $141.6 million, respectively.

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)			2023						2022						2021
Net sales(a):
Brazil			$	5,480.9					$	8,045.5					$	5,002.2
Canpotex(b)			1,275.7						2,961.6						1,089.6
China			556.1						648.2						396.0
Canada			411.6						966.0						794.9
India			350.8						512.5						340.3
Paraguay			222.8						227.1						113.8
Japan			157.7						162.0						112.4
Mexico			125.5						165.5						93.6
Colombia			103.2						125.9						135.1
Peru			77.5						70.2						40.0
Argentina			75.2						224.6						101.3
Australia			69.0						101.6						64.8
Honduras			30.0						31.2						22.3
Dominican Republic			16.7						34.1						29.8
Thailand			8.4						6.3						18.1
Other			55.9						100.8						73.9
Total international countries			9,017.0						14,383.1						8,428.1
United States			4,679.1						4,742.1						3,929.3
Consolidated			$	13,696.1					$	19,125.2					$	12,357.4

______________________________

(a)Revenues are attributed to countries based on location of customer.

(b)Canpotex sales to the ultimate third-party customers are approximately: 35% to customers based in Brazil, 12% to customers based in China, 9% to customers based in Bangladesh, 7% to customers based in India, and 37% to customers based in the rest of the world.

Financial information relating to our operations by geographic area

						December 31,
(in millions)						2023						2022
Long-lived assets:
Canada						$	4,876.1					$	4,716.2
Brazil						2,467.8						2,153.5
Other						1,521.3						1,432.5
Total international countries						8,865.2						8,302.2
United States						7,204.8						6,658.6
Consolidated						$	16,070.0					$	14,960.8

Excluded from the table above as of December 31, 2023 and 2022, are goodwill of $1,138.6 million and $1,116.3 million and deferred income tax assets of $1,079.2 million and $752.3 million, respectively.

Sales by product type

Net sales by product type for the years 2023, 2022 and 2021 are as follows:

			Years Ended December 31,
(in millions)			2023						2022						2021
Sales by product type:
Phosphate Crop Nutrients			$	3,277.5					$	4,465.0					$	3,552.7
Potash Crop Nutrients			4,107.7						6,484.1						3,367.9
Crop Nutrient Blends			2,107.4						2,970.0						1,800.0
Performance Products(a)			2,453.3						3,025.8						1,973.6
Phosphate Rock			125.9						125.9						75.5
Other(b)			1,624.3						2,054.4						1,587.7
			$	13,696.1					$	19,125.2					$	12,357.4

______________________________

(a)Includes sales of MicroEssentials®, K-Mag® and Aspire®.

(b)Includes sales of industrial potash, feed products, nitrogen and other products.

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