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Business Segments (Tables) | 12 Months Ended
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Dec. 31, 2024
Segment Reporting [Abstract] |
Schedule of segment reporting by segment | Segment information for the years 2024, 2023 and 2022 is as follows:
(in millions) |  | Phosphates |  | Potash |  | Mosaic Fertilizantes |  | Corporate, Eliminations and Other (a) |  | Total
Year Ended December 31, 2024 |  |  |  |  |  |  |  |  |  |
Net sales to external customers |  | $ | 3,793.3 |  |  | $ | 2,371.0 |  |  | $ | 4,422.3 |  |  | $ | 536.2 |  |  | $ | 11,122.8 |
Intersegment net sales |  | 725.5 |  |  | 17.7 |  |  | — |  |  | (743.2) |  |  | — |
Net sales |  | 4,518.8 |  |  | 2,388.7 |  |  | 4,422.3 |  |  | (207.0) |  |  | 11,122.8 |
Cost of goods sold(b) |  | 3,924.8 |  |  | 1,745.5 |  |  | 4,015.7 |  |  | (75.1) |  |  | 9,610.9 |
Gross margin |  | 594.0 |  |  | 643.2 |  |  | 406.6 |  |  | (131.9) |  |  | 1,511.9 |
Canadian resource taxes |  | — |  |  | 232.2 |  |  | — |  |  | — |  |  | 232.2 |
Gross margin (excluding Canadian resource taxes) |  | 594.0 |  |  | 875.4 |  |  | 406.6 |  |  | (131.9) |  |  | 1,744.1 |
Selling, general and administrative(c) |  | 45.3 |  |  | 31.1 |  |  | 134.7 |  |  | 285.8 |  |  | 496.9 |
Other operating expenses(d) |  | 323.7 |  |  | 7.7 |  |  | 34.2 |  |  | 27.9 |  |  | 393.5 |
Operating earnings |  | 225.1 |  |  | 604.5 |  |  | 237.6 |  |  | (445.7) |  |  | 621.5 |
Gain on sale of equity method investment |  | 522.2 |  |  | — |  |  | — |  |  | — |  |  | 522.2 |
Capital expenditures |  | 660.7 |  |  | 297.5 |  |  | 242.8 |  |  | 50.8 |  |  | 1,251.8 |
Depreciation, depletion and amortization expense |  | 505.6 |  |  | 336.5 |  |  | 159.3 |  |  | 24.1 |  |  | 1,025.5 |
Equity in net earnings of nonconsolidated companies |  | 70.9 |  |  | — |  |  | — |  |  | 2.4 |  |  | 73.3 |
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 |
Cost of goods sold(b) |  | 4,022.2 |  |  | 2,018.6 |  |  | 5,473.1 |  |  | (28.4) |  |  | 11,485.5 |
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 |
Selling, general and administrative(c) |  | 42.0 |  |  | 30.0 |  |  | 110.1 |  |  | 318.4 |  |  | 500.5 |
Other operating expenses(d) |  | 284.3 |  |  | 33.5 |  |  | 27.0 |  |  | 27.2 |  |  | 372.0 |
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 |
Cost of goods sold(b) |  | 4,425.2 |  |  | 2,365.5 |  |  | 7,241.6 |  |  | (662.9) |  |  | 13,369.4 |
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 |
Selling, general and administrative(c) |  | 40.7 |  |  | 30.3 |  |  | 101.9 |  |  | 325.1 |  |  | 498.0 |
Other operating expenses(d) |  | 371.1 |  |  | 45.1 |  |  | 33.3 |  |  | 23.0 |  |  | 472.5 |
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 |
Total assets as of December 31, 2024 |  | $ | 12,806.2 |  |  | $ | 7,762.8 |  |  | $ | 4,266.9 |  |  | $ | (1,911.9) |  |  | $ | 22,924.0 |
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 |
______________________________ (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, 2024, 2023 and 2022, distribution operations in India and China had revenues of $519.6 million, $898.9 million and $1.1 billion, respectively, and gross margins of $39.7 million, $(16.8) million and $130.9 million, respectively. These operations do not meet the quantitative thresholds for determining reportable segments. (b)The primary components of cost of goods sold are raw material purchases, including sulfur and ammonia, conversion costs and transportation costs. (c)Selling, general and administrative expenses include nonmanufacturing payroll expense and professional services expense. (d)Other operating expenses typically relate to five major categories: (1) AROs, (2) environmental and legal reserves, (3) idle facility costs, (4) insurance reimbursements, and (5) gain/loss on sale or disposal of fixed assets.
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) | 2024 |  | 2023 |  | 2022
Net sales(a): |  |  |  |  |
Brazil | $ | 4,296.2 |  |  | $ | 5,480.9 |  |  | $ | 8,045.5 |
Canpotex(b) | 884.3 |  |  | 1,275.7 |  |  | 2,961.6 |
China | 536.9 |  |  | 556.1 |  |  | 648.2 |
Canada | 520.1 |  |  | 411.6 |  |  | 966.0 |
Paraguay | 178.5 |  |  | 222.8 |  |  | 227.1 |
Argentina | 141.8 |  |  | 75.2 |  |  | 224.6 |
Japan | 130.8 |  |  | 157.7 |  |  | 162.0 |
Colombia | 118.7 |  |  | 103.2 |  |  | 125.9 |
India | 72.8 |  |  | 350.8 |  |  | 512.5 |
Australia | 57.9 |  |  | 69.0 |  |  | 101.6 |
Peru | 49.2 |  |  | 77.5 |  |  | 70.2 |
Mexico | 42.2 |  |  | 125.5 |  |  | 165.5 |
Honduras | 25.7 |  |  | 30.0 |  |  | 31.2 |
Dominican Republic | 14.7 |  |  | 16.7 |  |  | 34.1 |
Thailand | 6.0 |  |  | 8.4 |  |  | 6.3 |
Other | 76.3 |  |  | 55.9 |  |  | 100.8 |
Total international countries | 7,152.1 |  |  | 9,017.0 |  |  | 14,383.1 |
United States | 3,970.7 |  |  | 4,679.1 |  |  | 4,742.1 |
Consolidated | $ | 11,122.8 |  |  | $ | 13,696.1 |  |  | $ | 19,125.2 |
______________________________ (a)Revenues are attributed to countries based on location of customer. (b)Canpotex sales to the ultimate third-party customers are made to customers in various countries. The countries with the largest portion of third-party customer sales are Brazil, China, India, and Indonesia.
Financial information relating to our operations by geographic area |
|  | December 31,
(in millions) |  | 2024 |  | 2023
Long-lived assets: |  |  |  |
Canada |  | $ | 5,390.5 |  |  | $ | 4,876.1 |
Brazil |  | 2,012.8 |  |  | 2,467.8 |
Other |  | 545.8 |  |  | 1,521.3 |
Total international countries |  | 7,949.1 |  |  | 8,865.2 |
United States |  | 8,457.2 |  |  | 7,204.8 |
Consolidated |  | $ | 16,406.3 |  |  | $ | 16,070.0 |
Excluded from the table above as of December 31, 2024 and 2023, are goodwill of $1,061.1 million and $1,138.6 million and deferred income tax assets of $958.3 million and $1,079.2 million, respectively.
Sales by product type | Net sales by product type for the years 2024, 2023 and 2022 are as follows:
| Years Ended December 31,
(in millions) | 2024 |  | 2023 |  | 2022
Sales by product type: |  |  |  |  |
Phosphate Crop Nutrients | $ | 2,978.7 |  |  | $ | 3,277.5 |  |  | $ | 4,465.0 |
Potash Crop Nutrients | 2,808.6 |  |  | 4,107.7 |  |  | 6,484.1 |
Crop Nutrient Blends | 1,253.4 |  |  | 2,107.4 |  |  | 2,970.0 |
Performance Products(a) | 2,264.2 |  |  | 2,453.3 |  |  | 3,025.8 |
Phosphate Rock | 217.2 |  |  | 125.9 |  |  | 125.9 |
Other(b) | 1,600.7 |  |  | 1,624.3 |  |  | 2,054.4 |
| $ | 11,122.8 |  |  | $ | 13,696.1 |  |  | $ | 19,125.2 |
______________________________ (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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