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Business Segments
 9 Months Ended
Sep. 30, 2024
Segment Reporting [Abstract]  
Segment Reporting Disclosure 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.
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 and the results of the China and India distribution businesses are included within Corporate, Eliminations and Other. For a description of our business segments, see Note 1 to the Condensed Consolidated Financial Statements.
Segment information for the three and nine months ended September 30, 2024 and 2023 was as follows:
PhosphatePotashMosaic Fertilizantes
Corporate, Eliminations and Other(a)
Total
Three months ended September 30, 2024
Net sales to external customers$776.7 $521.7 $1,399.2 $113.3 $2,810.9 
Intersegment net sales228.6 4.0 — (232.6)— 
Net sales1,005.3 525.7 1,399.2 (119.3)2,810.9 
Gross margin142.3 121.9 127.9 24.7 416.8 
Canadian resource taxes— 44.5 — — 44.5 
Gross margin (excluding Canadian resource taxes)142.3 166.4 127.9 24.7 461.3 
Operating earnings (loss)7.6 109.3 56.1 (57.6)115.4 
Capital expenditures126.5 61.2 51.6 1.5 240.8 
Depreciation, depletion and amortization expense117.7 68.4 39.9 11.9 237.9 
Three months ended September 30, 2023
Net sales to external customers$898.8 $713.4 $1,730.6 $205.5 $3,548.3 
Intersegment net sales87.6 6.5 — (94.1)— 
Net sales986.4 719.9 1,730.6 111.4 3,548.3 
Gross margin87.5 210.3 106.1 5.7 409.6 
Canadian resource taxes— 85.6 — — 85.6 
Gross margin (excluding Canadian resource taxes)87.5 295.9 106.1 5.7 495.2 
Operating earnings (loss)(57.5)200.0 77.3 (74.0)145.8 
Capital expenditures157.3 84.5 117.7 52.2 411.7 
Depreciation, depletion and amortization expense116.5 65.8 53.9 2.5 238.7 
Nine months ended September 30, 2024
Net sales to external customers$2,788.9 $1,811.5 $3,334.5 $372.0 $8,306.9 
Intersegment net sales564.6 20.4 — (585.0)— 
Net sales3,353.5 1,831.9 3,334.5 (213.0)8,306.9 
Gross margin455.4 520.0 304.9 (70.3)1,210.0 
Canadian resource taxes— 175.8 — — 175.8 
Gross margin (excluding Canadian resource taxes)455.4 695.8 304.9 (70.3)1,385.8 
Operating earnings (loss)180.8 481.7 159.3 (300.2)521.6 
Capital expenditures501.1 232.9 179.8 43.9 957.7 
Depreciation, depletion and amortization expense362.5 244.0 120.0 16.9 743.4 
Nine months ended September 30, 2023
Net sales to external customers$2,951.7 $2,449.7 $4,492.7 $652.5 $10,546.6 
Intersegment net sales702.5 25.5 — (728.0)— 
Net sales3,654.2 2,475.2 4,492.7 (75.5)10,546.6 
Gross margin563.0 959.7 117.8 10.6 1,651.1 
Canadian resource taxes— 301.4 — — 301.4 
Gross margin (excluding Canadian resource taxes)563.0 1,261.1 117.8 10.6 1,952.5 
Operating earnings (loss)354.9 929.3 25.1 (249.7)1,059.6 
Capital expenditures418.3 251.5 267.6 106.1 1,043.5 
Depreciation, depletion and amortization expense362.1 209.8 123.3 7.7 702.9 
Total Assets
As of September 30, 2024$11,214.4 $7,467.5 $5,202.6 $(592.8)$23,291.7 
As of December 31, 202310,295.9 8,971.9 5,256.3 (1,491.3)23,032.8 
______________________________
(a)The “Corporate, Eliminations and Other” category includes the results of our ancillary distribution operations in India and China. For the three and nine months ended September 30, 2024, distribution operations in India and China collectively had revenue of $111.1 million and $361.2 million, respectively, and gross margin of $15.9 million and $25.9 million, respectively. For the three and nine months ended September 30, 2023, distribution operations in India and China collectively had revenue of $204.1 million and $642.6 million, respectively, and gross margin of $12.4 million and $(42.7) million, respectively.
Financial information relating to our operations by geographic area is as follows:
 Three Months Ended 
 
September 30,		Nine Months Ended 
 
September 30,
(in millions)2024202320242023
Net sales(a):
Brazil$1,350.8 $1,659.3 $3,241.5 $4,327.2 
Canpotex(b)
217.3 209.9 660.1 942.0 
China149.7 123.8 386.5 358.6 
Canada68.2 58.8 357.4 274.7 
Paraguay58.1 80.2 140.0 177.0 
Japan33.7 33.1 103.1 131.1 
India31.3 80.3 50.5 291.2 
Argentina28.4 27.2 69.9 70.3 
Colombia23.8 16.8 82.4 79.2 
Australia21.1 20.4 38.0 47.8 
Peru20.2 30.2 39.2 52.2 
Mexico9.8 27.7 39.4 118.8 
Honduras7.7 4.9 21.4 25.2 
Dominican Republic6.2 2.0 10.2 13.1 
Other30.9 18.8 54.6 54.7 
Total international countries2,057.2 2,393.4 5,294.2 6,963.1 
United States753.7 1,154.9 3,012.7 3,583.5 
Consolidated$2,810.9 $3,548.3 $8,306.9 $10,546.6 
______________________________
(a)Revenues are attributed to countries based on location of customer.
(b)Canpotex is the export association of two Saskatchewan potash producers. Canpotex annualized sales to the ultimate third-party customers are approximately: 35% to customers based in Brazil, 12% to customers based in China, 9% to customers in Bangladesh, 7% to customers based in India, and 37% to customers based in the rest of the world.
Net sales by product type are as follows:
 Three Months Ended 
 
September 30,		Nine Months Ended 
 
September 30,
(in millions)2024202320242023
Sales by product type:
Phosphate Crop Nutrients$810.4 $876.3 $2,201.0 $2,601.2 
Potash Crop Nutrients656.8 1,087.1 2,171.2 3,107.4 
Crop Nutrient Blends361.9 556.4 1,022.0 1,633.0 
Performance Products(a)
620.5 624.5 1,602.0 1,855.4 
Phosphate Rock28.0 36.9 106.5 125.9 
Other(b)
333.3 367.1 1,204.2 1,223.7 
$2,810.9 $3,548.3 $8,306.9 $10,546.6 
____________________________________________
(a)Includes sales of MicroEssentials®, K-Mag® and Aspire®.
(b)Includes sales of industrial potash, feed products, nitrogen and other products.