$MOS

MOSAIC CO

CIK:0001285785|SEC Filings

Condensed Consolidated Statements of Earnings (Unaudited) - USD ($)
shares in Millions, $ in Millions

3 Months Ended

6 Months Ended

Jun. 30, 2026

Jun. 30, 2025

Jun. 30, 2026

Jun. 30, 2025

Net sales

^[1]

$ 2,824.1

$ 3,005.7

$ 5,822.1

$ 5,626.6

Cost of goods sold

^[2]

2,609.4

2,487.1

5,371.8

4,619.6

Gross margin

214.7

518.6

450.3

1,007.0

Selling, general and administrative expenses

^[3]

131.6

167.2

267.5

289.8

Loss on assets sold and to be sold

6.2

0.0

238.8

0.0

Other operating expense

^[4]

112.4

107.0

352.4

134.3

Operating earnings (loss)

(35.5)

244.4

(408.4)

582.9

Interest expense, net

(62.8)

(53.0)

(118.1)

(93.7)

Foreign currency transaction gain (loss)

(39.4)

169.4

(1.8)

302.5

Other income (expense)

(163.2)

203.5

(58.5)

85.4

Earnings (loss) from consolidated companies before income taxes

(300.9)

564.3

(586.8)

877.1

(Benefit) provision for income taxes

(33.8)

146.0

(64.8)

209.3

Earnings (loss) from consolidated companies

(267.1)

418.3

(522.0)

667.8

Equity in net earnings of nonconsolidated companies

1.6

1.4

2.0

1.9

Net earnings (loss) including noncontrolling interests

265.5

(419.7)

520.0

(669.7)

Less: Net earnings attributable to noncontrolling interests

7.3

9.0

10.4

20.9

Net earnings (loss) attributable to Mosaic

$ (272.8)

$ 410.7

$ (530.4)

$ 648.8

Basic net earnings (loss) per share attributable to Mosaic

$ (0.86)

$ 1.29

$ (1.67)

$ 2.05

Basic weighted average number of shares outstanding

317.9

317.3

317.7

317.1

Diluted net earnings (loss) per share attributable to Mosaic

$ (0.86)

$ 1.29

$ (1.67)

$ 2.04

Diluted weighted average number of shares outstanding

317.9

319.0

317.7

318.5

[1]	Revenues are attributed to countries based on location of customer.
[2]	The primary components of cost of goods sold are raw material purchases, including sulfur and ammonia, conversion costs and transportation costs.
[3]	Selling, general and administrative expenses include nonmanufacturing payroll expense and professional services expense.
[4]	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. For the three and six months ended June 30, 2026, this includes the write-off of $69 million recorded in the Phosphate segment related to engineering and equipment costs for a project that we decided not to move forward with. For the six months ended June 30, 2026, this also includes expenses such as contract terminations, the write-off of property, plant and equipment and inventory, and severance costs as a result of the decision to divest of the Araxá mining and chemical complex and idle the related mining activities at the Patrocínio complex in Brazil that are recorded in the Mosaic Fertilizantes segment.

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	3 Months Ended		6 Months Ended		9 Months Ended	12 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025	Sep. 30, 2025	Dec. 31, 2025
Cash Flows from Operating Activities
Net earnings including noncontrolling interest	$ (265.5)	$ 419.7	$ (520.0)	$ 669.7
Adjustments to reconcile net earnings including noncontrolling interests to net cash provided by operating activities:
Depreciation, depletion and amortization	292.1	261.7	608.7	504.7
Deferred and other income taxes			(139.1)	24.6
Equity in net (earnings) of nonconsolidated companies, net of dividends			(2.8)	(1.0)
Accretion expense for asset retirement obligations			66.7	64.8	$ 129.7
Share-based compensation expense			18.1	17.7
Unrealized (gain) loss on derivatives			(1.1)	(112.3)
Foreign Currency Transaction Loss, before Tax			79.5
Foreign Currency Transaction Gain, before Tax				351.0
Impairment of Long-Lived Assets to be Disposed of			238.8	0.0
Amortization of Debt Discount (Premium)			20.1	23.1
Other			141.2	79.7
Changes in assets and liabilities, excluding effects of acquisition:
Receivables, net			222.3	14.6
Inventories			(245.6)	(378.1)
Other current and noncurrent assets			(92.9)	23.9
Accounts payable and accrued liabilities			(90.4)	273.5
Other noncurrent liabilities			17.0	41.8
Net cash provided by operating activities			271.6	652.4
Cash Flows from Investing Activities
Capital expenditures			677.1	645.4
Purchases of available-for-sale securities - restricted			(654.5)	(497.6)
Proceeds from sale of available-for-sale securities - restricted			633.8	477.4
Proceeds from Sale of Property, Plant, and Equipment			34.6	5.8
Other			(3.9)	0.5
Net cash used in investing activities			(667.1)	(659.3)
Cash Flows from Financing Activities
Repayments of Other Short-term Debt			(6,746.8)	(7,050.0)
Proceeds from Other Short-term Debt			6,807.1	7,041.5
Repayments of inventory financing arrangement			(701.5)	(801.7)
Proceeds From Inventory Financing Arrangements			903.3	1,004.6
Payments of structured accounts payable arrangements			(501.6)	(468.6)
Proceeds from structured accounts payable arrangements			366.7	457.9
Proceeds from Issuance of Long-Term Debt			502.9	4.7
Collections from Factoring Receivables			388.2	104.0
Payments of Factoring Receivables			(388.2)	(100.8)
Payments of long-term debt			(60.1)	(39.6)
Cash dividends paid			(140.7)	(141.0)
Payments of Ordinary Dividends, Noncontrolling Interest			(7.1)	(6.4)
Proceeds from (Payments to) Noncontrolling Interests			8.5	0.0
Proceeds from (Payment for) Other Financing Activity			(20.2)	(17.8)
Net cash provided by (used in) financing activities			410.5	(13.2)
Net change in cash, cash equivalents and restricted cash			7.2	(2.6)
Cash, cash equivalents and restricted cash-beginning of period			298.6	305.0	$ 305.0	$ 305.0
Cash, cash equivalents and restricted cash-end of period	305.8	302.4	305.8	302.4		298.6
Effect of Exchange Rate on Cash, Cash Equivalent, Restricted Cash, and Restricted Cash Equivalent, Continuing Operation			(7.8)	17.5
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Abstract]
Cash and cash equivalents	294.0	286.2	294.0	286.2		276.6
Restricted cash in other current assets	3.0	8.3	3.0	8.3
Restricted cash in other assets	8.8	7.9	8.8	7.9
Cash, cash equivalents and restricted cash-end of period	$ 305.8	$ 302.4	305.8	302.4		$ 298.6
Supplemental Disclosure of Cash Flow Information:
Interest (net of amount capitalized)			108.1	93.8
Capitalized interest costs			10.9	16.2
Income taxes (net of refunds)			108.8	150.6
Gain (Loss) on Disposition of Stock in Subsidiary or Equity Method Investee			49.2	(99.7)
Increase (Decrease) in Asset Retirement Obligations			$ (98.1)	$ (143.6)

Condensed Consolidated Balance Sheet - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 294.0	$ 276.6
Receivables, Net, Current	860.1	1,078.6
Inventories	3,668.0	3,363.0
Assets held for sale	96.6	73.5
Other current assets	511.5	445.8
Total current assets	5,430.2	5,237.5
Property, plant and equipment, net of accumulated depreciation	13,617.1	13,982.6
Equity securities and investments in nonconsolidated companies	1,805.5	1,848.2
Goodwill	969.2	1,005.1
Deferred income taxes	1,205.6	811.6
Other assets	1,613.1	1,595.1
Total assets	24,640.7	24,480.1
Current liabilities:
Short-term debt	1,021.3	759.9
Current maturities of long-term debt	66.7	43.1
Structured accounts payable arrangements	353.1	480.1
Accounts Payable, Current	1,177.4	1,171.9
Accrued liabilities	1,367.4	1,472.5
Liabilities held for sale	76.6	55.3
Total current liabilities	4,062.5	3,982.8
Long-term debt, less current maturities	4,767.7	4,250.9
Deferred income taxes	1,194.7	1,000.8
Other noncurrent liabilities	2,980.9	3,011.4
Equity:
Common stock, par value	$ 3.2	$ 3.2
Common stock, par value	$ 0.01	$ 0.01
Common stock, authorized	1,000,000,000	1,000,000,000
Common stock, issued	395,563,251	395,125,254
Common stock, outstanding	317,895,646	317,408,647
Capital in excess of par value	$ 42.9	$ 29.2
Retained earnings	13,584.5	14,184.4
Accumulated other comprehensive loss	(2,166.7)	(2,131.9)
Total Mosaic stockholders' equity	11,463.9	12,084.9
Noncontrolling interests	171.0	149.3
Total equity	11,634.9	12,234.2
Total liabilities and equity	24,640.7	24,480.1
Affiliated Entity
Current assets:
Receivables, Net, Current	85.1	126.3
Current liabilities:
Accounts Payable, Current	$ 216.0	$ 115.2