MOSAIC CO, 10-K filed on 2/27/2026
Annual Report
v3.25.4
Cover Page - USD ($)
$ in Billions
12 Months Ended
Dec. 31, 2025
Feb. 20, 2026
Jun. 30, 2025
Cover [Abstract]      
Document type 10-K    
Document Annual Report true    
Document period end date Dec. 31, 2025    
Document Transition Report false    
Entity File Number 001-32327    
Entity registrant name Mosaic Co    
Entity Incorporation, State or Country Code DE    
Entity Tax Identification Number 20-1026454    
Entity Address, Address Line One 101 East Kennedy Blvd    
Entity Address, Address Line Two Suite 2500    
Entity Address, City or Town Tampa    
Entity Address, State or Province FL    
Entity Address, Postal Zip Code 33602    
City Area Code 800    
Local Phone Number 918-8270    
Title of 12(b) Security Common Stock, par value $0.01 per share    
Trading Symbol MOS    
Security Exchange Name NYSE    
Entity well known seasoned issuer Yes    
Entity voluntary filers No    
Entity current reporting status Yes    
Entity Interactive Data Current Yes    
Entity filer category Large Accelerated Filer    
Entity Small Business false    
Entity Emerging Growth Company false    
Entity Shell Company false    
Entity public float     $ 11.5
Entity common stock shares outstanding   317,505,258  
Entity central index key 0001285785    
Amendment flag false    
Document Fiscal Year Focus 2025    
Document Fiscal Period Focus FY    
Current Fiscal Year End Date --12-31    
ICFR Auditor Attestation Flag true    
Auditor Firm ID 185    
Auditor Location Tampa, FL    
Auditor Name KPMG LLP    
Document Financial Statement Error Correction [Flag] false    
v3.25.4
Consolidated Statements of Earnings - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Net sales to external customers $ 12,052.4 $ 11,122.8 $ 13,696.1
Cost of goods sold [1] 10,150.5 9,610.9 11,485.5
Gross margin 1,901.9 1,511.9 2,210.6
Selling, general and administrative expenses [2] 533.9 496.9 500.5
Loss (gain) on assets sold and to be sold 157.3 0.0 (56.5)
Impairment of goodwill 99.9 0.0 0.0
Other operating expenses [3] 289.3 393.5 428.5
Operating earnings 821.5 621.5 [3] 1,338.1
Interest expense, net (187.7) (182.8) (129.4)
Foreign currency transaction gain (loss) 271.7 (685.8) 194.0
Gain on sale of equity investment 0.0 522.2 0.0
Other income (expense) 307.4 40.3 (76.8)
Earnings from consolidated companies before income taxes 1,212.9 315.4 1,325.9
Provision for income taxes 639.8 186.7 177.0
Earnings from consolidated companies 573.1 128.7 1,148.9
Equity in net earnings of nonconsolidated companies 2.3 73.3 60.3
Net earnings including noncontrolling interests 575.4 202.0 1,209.2
Less: Net earnings attributable to noncontrolling interests 34.7 27.1 44.3
Net earnings attributable to Mosaic $ 540.7 $ 174.9 $ 1,164.9
Basic net earnings per share attributable to Mosaic $ 1.70 $ 0.55 $ 3.52
Basic weighted average number of shares outstanding (in shares) 317.3 319.8 331.3
Diluted net earnings per share attributable to Mosaic $ 1.70 $ 0.55 $ 3.50
Diluted weighted average number of shares outstanding (in shares) 318.9 320.7 333.2
[1] The primary components of cost of goods sold are raw material purchases, including sulfur and ammonia, conversion costs and transportation costs.
[2] Selling, general and administrative expenses include nonmanufacturing payroll expense and professional services expense.
[3] 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
v3.25.4
Consolidated Statements of Comprehensive Income - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Statement of Comprehensive Income [Abstract]      
Net earnings including noncontrolling interest $ 575.4 $ 202.0 $ 1,209.2
Other comprehensive income (loss), net of tax      
Foreign currency translation gain (loss), net of tax (expense) benefit 307.1 (495.6) 154.1
Net actuarial gain (loss) and prior service cost, net of tax (expense) benefit (2.7) 10.9 20.1
Net Gain (Loss) on Interest Rate Swaps Qualifying as Hedge, After Reclassification, Before Tax (0.1) (0.1) 1.4
Net Gain (Loss) on Marketable Securities Held in Trust, After Reclassification and Tax 15.3 (14.8) 23.7
Other comprehensive income (loss) 319.6 (499.6) 199.3
Comprehensive income (loss) 895.0 (297.6) 1,408.5
Less: Comprehensive income attributable to noncontrolling interest 37.2 21.6 46.3
Comprehensive income (loss) attributable to Mosaic $ 857.8 $ (319.2) $ 1,362.2
v3.25.4
Consolidated Balance Sheets - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 276.6 $ 272.8
Receivables, net 1,078.6 1,113.3
Inventories 3,363.0 2,548.4
Assets held for sale 73.5 0.0
Other current assets 445.8 563.8
Total current assets 5,237.5 4,498.3
Property, plant and equipment, net 13,982.6 13,352.6
Equity securities 1,848.2 1,533.4
Goodwill 1,005.1 1,061.1
Deferred income taxes 811.6 958.3
Other assets 1,595.1 1,520.3
Total assets 24,480.1 22,924.0
Current liabilities:    
Short-term debt 759.9 847.1
Current maturities of long-term debt 43.1 45.3
Structured accounts payable arrangements 480.1 402.3
Accounts payable 1,171.9 1,156.5
Accrued liabilities 1,472.5 1,720.1
Liabilities held for sale 55.3 0.0
Total current liabilities 3,982.8 4,171.3
Long-term debt, less current maturities 4,250.9 3,332.3
Deferred income taxes 1,000.8 942.8
Other noncurrent liabilities $ 3,011.4 2,862.9
Preferred Stock, Shares Outstanding 0  
Preferred Stock, Shares Issued 0  
Equity:    
Preferred stock, par value $ 0.0 0.0
Common stock, value 3.2 3.2
Capital in excess of par value 29.2 2.1
Retained earnings 14,184.4 13,926.1
Accumulated other comprehensive loss (2,131.9) (2,449.0)
Total Mosaic stockholders’ equity 12,084.9 11,482.4
Non-controlling interests 149.3 132.3
Total equity 12,234.2 11,614.7
Total liabilities and equity $ 24,480.1 $ 22,924.0
Preferred stock, par value (in usd per share) $ 0.01  
Preferred stock, authorized (in shares) 15,000,000  
Common Stock, Par or Stated Value Per Share $ 0.01  
Common stock, authorized (in shares) 1,000,000,000  
Common stock, issued (in shares) 395,125,254 394,648,654
Common stock, outstanding (in shares) 317,408,647 316,932,047
v3.25.4
Consolidated Balance Sheets (Parentheticals) - $ / shares
Dec. 31, 2025
Dec. 31, 2024
Statement of Financial Position [Abstract]    
Preferred stock, par value (in usd per share) $ 0.01  
Preferred stock, authorized (in shares) 15,000,000  
Common stock, par value (in usd per share) $ 0.01  
Common stock, authorized (in shares) 1,000,000,000  
Common stock, issued (in shares) 395,125,254 394,648,654
Common stock, outstanding (in shares) 317,408,647 316,932,047
v3.25.4
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash Flows from Operating Activities      
Net earnings including noncontrolling interest $ 575.4 $ 202.0 $ 1,209.2
Adjustment to Reconcile Net Income to Cash Provided by (Used in) Operating Activity [Abstract]      
Depreciation, depletion and amortization 1,049.9 1,025.5 960.6
Deferred and other income taxes 251.8 (142.9) (261.2)
Equity in net (earnings) of nonconsolidated companies, net of dividends 0.6 (55.7) (31.8)
Accretion expense for asset retirement obligations 129.7 111.2 96.1
Debt Financing Fees, Amortization 43.0 36.5 21.4
Share-based compensation expense 30.7 31.8 33.0
Impairment of goodwill 99.9 0.0 0.0
Unrealized (gain) loss on derivatives (85.7) 104.1 (29.0)
Foreign Currency Transaction Loss, before Tax   462.7  
Foreign Currency Transaction Gain (Loss), before Tax (267.1)   (94.0)
Loss (gain) on assets sold and to be sold 157.3 0.0 (56.5)
Pension Settlement 0.0 0.0 42.4
Equity Method Investment, Realized Gain on Disposal   538.2  
Gain (Loss) on Disposition of Stock in Subsidiary or Equity Method Investee (317.4) (28.3)  
Other 118.0 69.4 115.3
Changes in assets and liabilities:      
Receivables, net 75.7 59.2 526.3
Inventories, net (761.5) (275.6) 1,061.4
Other current assets and noncurrent assets 8.1 (79.2) (239.2)
Accounts payable and accrued liabilities (359.6) 96.4 (1,055.1)
Other noncurrent liabilities 76.0 220.3 108.3
Net cash provided by operating activities 824.8 1,299.2 2,407.2
Cash Flows from Investing Activities      
Capital expenditures (1,359.4) (1,251.8) (1,402.4)
Purchases of available-for-sale securities - restricted (975.6) (1,529.7) (1,240.8)
Proceeds from sale of available-for-sale securities - restricted 949.1 1,501.1 1,209.1
Proceeds from Sales of Business, Affiliate and Productive Assets 0.0 0.0 158.4
Payments to acquire businesses, gross 0.0 0.0 (41.0)
Proceeds from Sale of Property, Plant, and Equipment 79.0 16.8 4.8
Other (2.6) 2.6 (5.3)
Net cash used in investing activities (1,309.5) (1,261.0) (1,317.2)
Cash Flows from Financing Activities      
Repayments of Other Short-term Debt 16,471.4 16,779.6 9,832.0
Proceeds from Other Short-term Debt 16,282.6 17,032.8 10,007.1
Repayments of inventory financing arrangement (2,005.8) (1,805.0) (601.4)
Proceeds From Inventory Financing Arrangements 2,106.5 2,004.5 601.4
Payments of structured accounts payable arrangements (906.1) (755.0) (1,432.9)
Proceeds from structured accounts payable arrangements 961.8 737.3 1,048.2
Collections of transferred receivables 572.5 425.5 1,468.6
Payments of transferred receivables (572.5) (425.5) (1,468.6)
Payments of long-term debt (73.4) (67.2) (995.3)
Proceeds from Issuance of Long-term Debt 904.7 70.3 900.0
Repurchases of stock 0.0 (235.4) (756.0)
Cash dividends paid (280.4) (270.7) (351.6)
Payments of Ordinary Dividends, Noncontrolling Interest (20.2) (31.9) (41.5)
Other (46.3) (32.0) (26.5)
Net cash provided by (used in) financing activities 452.0 (131.9) (1,480.5)
Effect of Exchange Rate on Cash, Cash Equivalent, Restricted Cash, and Restricted Cash Equivalent, Continuing Operation 26.3 37.9 (2.8)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect (6.4) (55.8) (393.3)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents - Beginning of Period 305.0 360.8 754.1
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents - End of Period 298.6 305.0 360.8
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Abstract]      
Cash and cash equivalents 276.6 272.8 348.8
Restricted cash in other current assets 7.8 14.9 8.6
Restricted cash in other assets 14.2 17.3 3.4
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents - End of Period $ 298.6 $ 305.0 $ 360.8
v3.25.4
Consolidated Statements of Shareholders Equity - USD ($)
$ in Millions
Total
Common Stock
Capital in Excess of Par Value
Retained Earnings
Accumulated Other Comprehensive Income (Loss)
Non- Controlling Interests
Beginning balance at Dec. 31, 2022 $ 12,194.2 $ 3.4 $ 0.0 $ 14,203.4 $ (2,152.2) $ 139.6
Common stock shares outstanding, beginning balance (in shares) at Dec. 31, 2022   339,100,000        
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Total comprehensive income (loss) 1,408.5     1,164.9 197.3 46.3
Stock Issued During Period, Shares, Restricted Stock Award, Gross   1,900,000        
APIC, Share-based Payment Arrangement, Restricted Stock Unit, Increase for Cost Recognition (54.2)   (0.8) (53.4)    
Stock based compensation 33.0   33.0      
Stock Repurchased During Period, Shares   (16,900,000)        
Stock Repurchased During Period, Value (754.4) $ (0.2) (32.2)      
Dividends, Common Stock, Cash (351.0)     (351.0)    
Dividends for noncontrolling interests           (43.3)
Noncontrolling Interest, Increase from Subsidiary Equity Issuance (43.3)   0.0      
Ending balance at Dec. 31, 2023 $ 12,432.8 $ 3.2 0.0 14,241.9 (1,954.9) 142.6
Common stock shares outstanding, ending balance (in shares) at Dec. 31, 2023   324,100,000        
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Stock Repurchased and Retired During Period, Value       (722.0)    
Dividends per share (in usd per share) $ 0.85          
Excised Tax on Share Repurchases $ 6.4          
Total comprehensive income (loss) (297.6)     174.9 (494.1) 21.6
Stock Issued During Period, Shares, Restricted Stock Award, Gross   700,000        
APIC, Share-based Payment Arrangement, Restricted Stock Unit, Increase for Cost Recognition $ (10.5)   0.0 (10.5)    
Stock based compensation     31.8      
The total intrinsic value of options exercised during the fiscal year 31,800,000          
Stock Repurchased During Period, Shares (7,944,507) (7,900,000)        
Stock Repurchased During Period, Value $ (237.5) $ 0.0 (29.7)      
Dividends, Common Stock, Cash (272.4)     (272.4)    
Dividends for noncontrolling interests (31.9)         (31.9)
Ending balance at Dec. 31, 2024 $ 11,614.7 $ 3.2 2.1 13,926.1 (2,449.0) 132.3
Common stock shares outstanding, ending balance (in shares) at Dec. 31, 2024 316,932,047 316,900,000        
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Stock Repurchased and Retired During Period, Value       (207.8)    
Dividends per share (in usd per share) $ 0.85          
Excised Tax on Share Repurchases $ 2.1          
Total comprehensive income (loss) 895.0     540.7 317.1 37.2
Stock Issued During Period, Shares, Restricted Stock Award, Gross   500,000        
APIC, Share-based Payment Arrangement, Restricted Stock Unit, Increase for Cost Recognition $ (3.6)   (3.6) 0.0    
Stock based compensation     30.7      
The total intrinsic value of options exercised during the fiscal year 30,700,000          
Stock Repurchased During Period, Shares 0          
Dividends, Common Stock, Cash $ (282.4)     (282.4)    
Dividends for noncontrolling interests (20.2)         (20.2)
Ending balance at Dec. 31, 2025 $ 12,234.2 $ 3.2 $ 29.2 $ 14,184.4 $ (2,131.9) $ 149.3
Common stock shares outstanding, ending balance (in shares) at Dec. 31, 2025 317,408,647 317,400,000        
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Dividends per share (in usd per share) $ 0.88          
v3.25.4
Consolidated Statements of Shareholders Equity (Parentheticals) - $ / shares
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Statement of Stockholders' Equity [Abstract]      
Dividends per share (in usd per share) $ 0.88 $ 0.85 $ 0.85
v3.25.4
Organization and Nature of Business
12 Months Ended
Dec. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Organization and Nature of Business ORGANIZATION AND NATURE OF BUSINESS
The Mosaic Company (“Mosaic,” and, with its consolidated subsidiaries, “we,” “us,” “our” or the “Company”) produces and markets concentrated phosphate and potash crop nutrients. We conduct our business through wholly- and majority-owned subsidiaries and businesses in which we own less than a majority or a noncontrolling interest, including consolidated variable interest entities and investments accounted for by the equity method.
We are organized into the following business segments:
Our Phosphate business segment owns and operates mines and production facilities in Florida which produce concentrated phosphate crop nutrients and phosphate-based animal feed ingredients, and processing plants in Louisiana which produce concentrated phosphate crop nutrients. We have a 75% economic interest in the Miski Mayo Phosphate Mine in Peru. These results are consolidated in the Phosphate segment. Through December 24, 2024, the Phosphate segment included our prior 25% interest in the Ma’aden Wa’ad Al Shamal Phosphate Company (“MWSPC”), a joint venture to develop, own and operate integrated phosphate production facilities in the Kingdom of Saudi Arabia. On December 24, 2024, we exchanged our ownership of MWSPC for shares of Ma’aden. Our equity in the net earnings or losses relating to MWSPC were recognized on a one-quarter lag in our Consolidated Statements of Earnings.
Our Potash business segment owns and operates potash mines and production facilities in Canada and the U.S. which produce potash-based crop nutrients, animal feed ingredients and industrial products. Potash sales include domestic and international sales. We are a member of Canpotex, Limited (“Canpotex”), an export association of Canadian potash producers through which we sell our Canadian potash outside the U.S. and Canada.
Our Mosaic Fertilizantes business segment includes five Brazilian phosphate rock mines and four phosphate chemical plants in Brazil. The segment also includes our distribution business in South America, which consists of sales offices, crop nutrient blending and bagging facilities, port terminals and warehouses in Brazil and Paraguay. We also have a majority interest in Fospar S.A., which owns and operates a single superphosphate granulation plant and a deep-water port and throughput warehouse terminal facility in Brazil. It also includes the results of Mosaic Biosciences sales in Brazil.
Intersegment eliminations, unrealized mark-to-market gains/losses on derivatives and investment in equity securities of Ma’aden, debt expenses, the results of the China and India distribution businesses and Mosaic Biosciences sales in China, India and North America are included within Corporate, Eliminations and Other.
v3.25.4
Significant Accounting Policies
12 Months Ended
Dec. 31, 2025
Accounting Policies [Abstract]  
Significant Accounting Policies SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Statement Presentation and Basis of Consolidation
The accompanying Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). Throughout the Notes to Consolidated Financial Statements, amounts in tables are in millions of dollars except for per share data and as otherwise designated.
The accompanying Consolidated Financial Statements include the accounts of Mosaic and its majority-owned subsidiaries. Certain investments in companies in which we do not have control but have the ability to exercise significant influence are accounted for by the equity method. All significant intercompany balances and transactions have been eliminated in consolidation.
Accounting Estimates
Preparation of the Consolidated Financial Statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of net sales and expenses during the reporting periods. The most significant estimates made by management relate to the recoverability of non-current assets including goodwill, the useful lives and net realizable values of long-lived assets, environmental and reclamation liabilities, including asset retirement
obligations (“ARO”), and income tax-related accounts, including the valuation allowance against deferred income tax assets. Actual results could differ from these estimates.
Revenue Recognition
We generate revenues primarily by producing and marketing phosphate and potash crop nutrients. Revenue is recognized when control of the product is transferred to the customer, which is generally upon transfer of title to the customer based on the contractual terms of each arrangement. Title is typically transferred to the customer upon shipment of the product. In certain circumstances, which are referred to as final price deferred arrangements, we ship product prior to the establishment of a valid sales contract. In such cases, we retain control of the product and do not recognize revenue until a sales contract has been agreed to with the customer.
Revenue is measured as the amount of consideration we expect to receive in exchange for the transfer of our goods. Our products are generally sold based on market prices prevailing at the time the sales contract is signed or through contracts which are priced at the time of shipment, except for the final priced deferred arrangements discussed above. Sales incentives are volumetric based annual programs and recorded as a reduction of revenue at the time of sale. We estimate the variable consideration related to our sales incentive programs based on the sales terms with customers and historical experience. Historically, sales incentives have represented 1% or less of total revenue and there have not been significant adjustments to such estimates in the financial statements.
We sell Canadian-sourced potash outside Canada and the U.S. exclusively through Canpotex distribution. Canpotex sells potash to buyers in export markets pursuant to term and spot contracts at agreed upon prices. For sales through this channel, our revenue is recognized at the amount received from Canpotex representing proceeds from their sale of potash, less net costs of Canpotex. Sales are recognized when control is transferred to Canpotex, typically upon shipment of the product to Canpotex, and adjusted at the end of each reporting period based upon the updated estimated pricing or final pricing from Canpotex. Prior to final pricing, revenue is recognized only to the extent that it is probable a significant reversal of revenue will not occur. The constraint is estimated each period based on historical experience, market trends and industry data. The estimated constraint is not material to the Company’s financial statements.
Due to our membership in Canpotex, we eliminate the intra-entity profit with Canpotex at the end of each reporting period and present that profit elimination by reversing revenue and cost of goods sold for the inventory remaining at Canpotex. For more information regarding our relationship with Canpotex and accounting considerations, see Note 9 of our Notes to Consolidated Financial Statements. For information regarding sales by product type and by geographic area, see Note 25 of our Notes to Consolidated Financial Statements.
The timing of recognition of revenue related to our performance obligations may be different than the timing of collection of cash related to those performance obligations. Payment terms vary by contract. Specifically, we collect prepayments from certain customers in Brazil. In addition, cash collection from Canpotex may occur prior to delivery of product to the end customer. We generally satisfy our contractual liabilities within one quarter of incurring the liability. To the extent prepayments are not collected from customers, payment terms are established based on the type of product, distributor capabilities and competitive market conditions, and do not exceed one year.
Other key revenue recognition accounting policies include:
Trade accounts receivable are recorded at the invoiced amount. Taxes collected from customers relating to product sales and remitted to governmental authorities are excluded from revenue.
We generally expense sales commissions when incurred because the amortization period would have been one year or less. These costs are recorded within sales and marketing expenses.
We have elected to recognize the cost for freight and shipping as an expense in cost of sales, when control over the product has passed to the customer.
Non-Income Taxes
We pay Canadian resource taxes consisting of the Potash Production Tax and resource surcharge. The Potash Production Tax is a Saskatchewan provincial tax on potash production and consists of a base payment and a profits tax. In addition to the Canadian resource taxes, royalties are payable to the mineral owners with respect to potash reserves or production of potash. These resource taxes and royalties are recorded in our cost of goods sold. Our Canadian resource tax and royalty expenses were $315.6 million, $272.7 million and $457.0 million during 2025, 2024 and 2023, respectively.
We have approximately $60.8 million of assets recorded as of December 31, 2025 related to PIS and Cofins, which is a Brazilian federal value-added tax. This amount was mostly earned in 2008 through 2022; we believe that it will be realized through offsetting income tax payments or other federal taxes or receiving cash refunds. As of December 31, 2024 we had approximately $96.2 million of assets recorded for these matters. Should the Brazilian government determine that these are not valid credits upon audit, this could impact our results in such period. We have recorded the PIS and Cofins credits at amounts which we believe are probable of collection. Information regarding PIS and Cofins taxes already audited is included in Note 23 of our Notes to Consolidated Financial Statements.
Foreign Currency Translation
The Company’s reporting currency is the U.S. dollar; however, for operations located in Canada and Brazil, the functional currency is the local currency. Assets and liabilities of these foreign operations are translated to U.S. dollars at exchange rates in effect at the balance sheet date, while income statement accounts and cash flows are translated to U.S. dollars at the average exchange rates for the period. For these operations, translation gains and losses are recorded as a component of accumulated other comprehensive income in equity until the foreign entity is sold or liquidated. Transaction gains and losses result from transactions that are denominated in a currency other than the functional currency of the operation, primarily accounts receivable and intercompany loans in our Canadian entities denominated in U.S. dollars, intercompany loans receivable in our U.S. entities denominated in Brazilian real, and accounts payable in Brazil denominated in U.S. dollars. These foreign currency transaction gains and losses are presented separately in the Consolidated Statement of Earnings.
Cash and Cash Equivalents
Cash and cash equivalents include short-term, highly liquid investments with original maturities of 90 days or less and other highly liquid investments that are payable on demand such as money market accounts, certain certificates of deposit and repurchase agreements. The carrying amount of such cash equivalents approximates their fair value due to the short-term and highly liquid nature of these instruments.
Concentration of Credit Risk
In the U.S., we sell our products to manufacturers, distributors and retailers primarily in the Midwest and Southeast. We generally sell our principal products to a large number of customers. At December 31, 2025 and 2024, one customer accounted for approximately 12% and 11%, respectively, of our trade accounts receivable. We continually monitor the creditworthiness of our customers and general economic conditions to manage our credit risk exposure. As such, we do not believe there is any significant collection risk.
Internationally, our potash products are sold primarily through Canpotex, an export association. A concentration of credit risk arises from our sales and accounts receivable associated with the international sales of potash product through Canpotex. We consider our concentration risk related to the Canpotex receivable to be mitigated by their credit policy, which requires the underlying receivables to be substantially insured or secured by letters of credit. As of December 31, 2025 and 2024, there were $73.0 million and $65.1 million, respectively, of trade accounts receivable due from Canpotex. During 2025, 2024 and 2023, sales to Canpotex were $1.2 billion, $884.3 million and $1.3 billion, respectively.
Inventories
Inventories of raw materials, work-in-process products, finished goods and operating materials and supplies are stated at the lower of cost or net realizable value. Costs for substantially all inventories are determined using the weighted average cost basis. To determine the cost of inventory, we allocate fixed expense to the costs of production based on the normal capacity, which refers to a range of production levels and is considered the production expected to be achieved over a number of periods or seasons under normal circumstances, taking into account the loss of capacity resulting from planned maintenance. Fixed overhead costs allocated to each unit of production should not increase due to abnormally low production. Those excess costs are recognized as a current period expense. When a production facility is completely shut down temporarily, it is considered “idle”, and all related expenses are charged to cost of goods sold.
Net realizable value of our inventory is defined as forecasted selling prices less reasonably predictable selling costs. Significant management judgment is involved in estimating forecasted selling prices including various demand and supply variables. Examples of demand variables include grain and oilseed prices, stock-to-use ratios and changes in inventories in the crop nutrients distribution channels. Examples of supply variables include forecasted prices of raw materials, such as phosphate rock, sulfur, ammonia and natural gas, estimated operating rates and industry crop nutrient inventory levels. Results could differ materially if actual selling prices differ materially from forecasted selling prices. Charges for lower of
cost or market are recognized in our Consolidated Statements of Earnings in the period when there is evidence of a decline of market value below cost.
Property, Plant and Equipment and Recoverability of Long-Lived Assets
Property, plant and equipment are stated at cost. Costs of significant assets include capitalized interest incurred during the construction and development period. Repairs and maintenance, including planned major maintenance and plant turnaround costs, are expensed when incurred.
Currently, we do not have any material exploration or development stage mining projects. When we transition to new mining areas within our current properties, we incur minimal pre-mining costs related to the permitting process and land preparation activities, such as water management control and construction of roads and access points. These costs are capitalized as part of our mineral properties and rights. Mineral properties and rights at our operations include mineral reserves and mineral resources. Mineral resources have not yet been scheduled in formal mine plans and therefore are not subject to depletion. Depletion expenses for mining operations, including mineral reserves, are generally determined using the units-of-production method based on estimates of proven and probable reserves. Depreciation is computed principally using the straight-line method and units-of-production method over the following useful lives: machinery and equipment: three to 25 years; and buildings and leasehold improvements: three to 40 years.
We estimate initial useful lives based on experience and current technology. These estimates may be extended through sustaining capital programs. Factors affecting the fair value of our assets or periods of expected use may also affect the estimated useful lives of our assets and these factors can change. Therefore, we periodically review the estimated remaining lives of our facilities and other significant assets and adjust our depreciation rates prospectively where appropriate.
Long-lived assets, including fixed assets and right-of-use assets, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. An impairment assessment involves management judgment and estimates of factors such as industry and market conditions, the economic life of the asset, sales volume and prices, inflation, raw materials costs, cost of capital, tax rates and capital spending. The carrying amount of a long-lived asset group is not recoverable if it exceeds the sum of the undiscounted cash flows expected to result from the use and eventual disposition of the asset group. If it is determined that an impairment loss has occurred, the loss is measured as the amount by which the carrying amount of the long-lived asset group exceeds its fair value.
Leases
Right of use (“ROU”) assets represent our right to use an underlying asset for the lease term. Lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at the commencement date of the lease, based on the present value of lease payments over the lease term. As most of our leases do not provide an implicit rate, we use our incremental borrowing rate based on the information available at the commencement date in determining the present value of lease payments. The Company’s incremental borrowing rate for a lease is the rate of interest it would have to pay on a collateralized basis to borrow an amount equal to the lease payments under similar terms. For both operating and finance leases, the initial ROU asset equals the lease liability, plus initial direct costs, less lease incentives received. Our lease agreements may include options to extend or terminate the lease, which are included in the lease term at the commencement date when it is reasonably certain that we will exercise that option. In general, we do not consider optional periods included in our lease agreements as reasonably certain of exercise at inception.
At inception, we determine whether an arrangement is a lease and the appropriate lease classification. Operating leases with terms greater than twelve months are included as operating lease ROU assets within other assets and the associated lease liabilities within accrued liabilities and other noncurrent liabilities on our consolidated balance sheets. Finance leases with terms greater than twelve months are included as finance ROU assets within property and equipment and the associated finance lease liabilities within current maturities of long-term debt and long-term debt on our consolidated balance sheets.
Leases with terms of less than twelve months, referred to as short-term leases, do not create a ROU asset or lease liability on the balance sheet.
We have lease agreements with lease and non-lease components, which are generally accounted for separately. For full-service railcar leases, we account for the lease and non-lease components as a single lease component. Additionally, for certain equipment leases, we apply assumptions using a portfolio approach, given the generally consistent terms of the agreements. Lease payments based on usage (for example, per-mile or per-hour charges), referred to as variable lease costs, are recorded separately from the determination of the ROU asset and lease liability.
Contingencies
Accruals for environmental remediation efforts are recorded when costs are probable and can be reasonably estimated. In determining these accruals, we use the most current information available, including similar past experiences, available technology, consultant evaluations, regulations in effect, the timing of remediation and cost-sharing arrangements. Adjustments to accruals, recorded as needed in our Consolidated Statement of Earnings each quarter, are made to reflect changes in and current status of these factors.
We are involved from time to time in claims and legal actions incidental to our operations, both as plaintiff and defendant. We have established what we currently believe to be adequate accruals for pending legal matters. These accruals are established as part of an ongoing worldwide assessment of claims and legal actions that takes into consideration such items as advice of legal counsel, individual developments in court proceedings, changes in the law, changes in business focus, changes in the litigation environment, changes in opponent strategy and tactics, new developments as a result of ongoing discovery and our experience in defending and settling similar claims. The litigation accruals at any time reflect updated assessments of the then-existing claims and legal actions. The final outcome or potential settlement of litigation matters could differ materially from the accruals which we have established. Legal costs are expensed as incurred.
Pension and Other Postretirement Benefits
Mosaic offers a number of benefit plans that provide pension and other benefits to qualified employees. These plans include defined benefit pension plans, supplemental pension plans, defined contribution plans and other postretirement benefit plans.
We accrue the funded status of our plans, which is representative of our obligations under employee benefit plans and the related costs, net of plan assets measured at fair value. The cost of pensions and other retirement benefits earned by employees is generally determined with the assistance of an actuary using the projected benefit method prorated on service and management’s best estimate of expected plan investment performance, salary escalation, retirement ages of employees and expected healthcare costs.
Additional Accounting Policies
To facilitate a better understanding of our consolidated financial statements we have disclosed the following significant accounting policies (with the exception of those identified above) throughout the following notes, with the related financial disclosures by major caption:
NoteTopicPage
9
F-51
10
F-52
11
F-52
12
F-55
13
F-57
14
F-64
15
F-66
16
F-67
v3.25.4
Recently Issued Accounting Guidance
12 Months Ended
Dec. 31, 2025
Accounting Standards Update and Change in Accounting Principle [Abstract]  
Recently Issued Accounting Guidance RECENTLY ISSUED ACCOUNTING GUIDANCE
In December 2023, the Financial Accounting Standards Board (“FASB”) issued guidance to provide more disaggregation of income tax disclosures mainly related to the reconciliations of the income tax rate and income taxes paid by jurisdiction. We adopted this standard for the year ended December 31, 2025, and applied the new disclosure requirements prospectively to the current annual period. Prior period disclosures have not been adjusted to reflect the new disclosure requirements. While adoption of this standard resulted in enhanced disclosures, it did not have any impact to our results of operations, cash flows or financial condition.
In November 2024, the FASB issued guidance which requires more detailed disclosure about specified categories of expenses (purchases of inventory, employee compensation, depreciation, intangible asset amortization and depletion) included in certain expense captions on the face of the income statement. Additionally, the amendments require disclosure of the total amount of selling expenses and an annual disclosure of the definition of selling expenses. These amendments are effective for
fiscal years beginning after December 15, 2026, and for interim periods within fiscal years beginning after December 15, 2027, with early adoption permitted. The disclosures may be applied either prospectively or retrospectively to any or all prior periods presented in the financial statements. We intend to apply this standard on a prospective basis and continue to evaluate the impact this new guidance will have on our disclosures.
v3.25.4
Leases
12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Operating and Finance Leases [Text Block] LEASES
Leasing Activity
We have operating and finance leases for heavy mobile equipment, railcars, fleet vehicles, field and plant equipment, river and cross-gulf vessels, corporate offices, land and computer equipment. Our leases have remaining lease terms of one year to 37 years, some of which include options to extend the lease for up to 20 years and some of which include options to terminate the lease within one year.
Supplemental balance sheet information related to leases as of December 31, 2025 and December 31, 2024 is as follows:
December 31,
Type of Lease Asset or Liability20252024Balance Sheet Classification
(in millions)
Operating Leases
Right-of-use assets$223.6 $220.0 Other assets
Lease liabilities:
Short-term59.6 43.9 Accrued liabilities
Long-term166.0 181.2 Other noncurrent liabilities
Total$225.6 $225.1 
Finance Leases
Right-of-use assets:
Gross assets$532.6 $452.0 
Less: accumulated depreciation249.3 205.3 
Net assets$283.3 $246.7 Property, plant and equipment, net
Lease liabilities:
Short-term$32.1 $30.6 Current maturities of long-term debt
Long-term143.9 114.2 Long-term debt, less current maturities
Total$176.0 $144.8 
Lease expense is generally included within cost of goods sold and selling, general and administrative expenses, except for interest on lease liabilities, which is recorded within net interest. The components of lease expense were as follows:
December 31,
(in millions)202520242023
Operating lease cost$101.9 $87.2 $86.9 
Finance lease cost:
Amortization of right-of-use assets52.0 45.5 45.8 
Interest on lease liabilities14.5 6.1 7.1 
Short-term lease cost— 0.2 0.1 
Variable lease cost21.1 19.5 19.8 
Total lease cost$189.5 $158.5 $159.7 
Rental expense for 2025, 2024 and 2023 was $269.7 million, $269.4 million and $252.1 million, respectively.
Supplemental cash flow information related to leases was as follows:
December 31,
(In millions)202520242023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$89.3 $90.4 $89.2 
Operating cash flows from finance leases14.6 6.1 7.1 
Financing cash flows from finance leases39.6 42.9 78.8 
 
Right-of-use assets obtained in exchange for lease obligations:
Operating leases$66.9 $70.4 $54.5 
Finance leases86.2 9.0 35.8 
Other information related to leases was as follows:
December 31, 2025
Weighted Average Remaining Lease Term
Operating leases5.9 years
Finance leases4.2 years
Weighted Average Discount Rate
Operating leases7.2 %
Finance leases7.9 %
Future lease payments under non-cancellable leases recorded as of December 31, 2025, were as follows:
Operating LeasesFinance Leases
(in millions)
2026$71.9 $44.6 
202755.2 38.6 
202836.9 36.9 
202932.0 72.8 
203013.6 6.7 
Thereafter58.3 10.4 
Total future lease payments$267.9 $210.0 
Less imputed interest(42.3)(34.0)
Total$225.6 $176.0 
v3.25.4
Other Financial Statement Data
12 Months Ended
Dec. 31, 2025
Balance Sheet Related Disclosures [Abstract]  
Other Financial Statement Data OTHER FINANCIAL STATEMENT DATA
The following provides additional information concerning selected balance sheet accounts:
 December 31,
(in millions)20252024
Receivables
Trade - External$887.8 $969.1 
Trade - Affiliate82.2 67.1 
Non-trade109.6 78.1 
1,079.6 1,114.3 
Less allowance for doubtful accounts1.0 1.0 
$1,078.6 $1,113.3 
Inventories
Raw materials$285.7 $148.6 
Work in process1,150.2 941.1 
Finished goods1,587.6 1,239.8 
Final price deferred (a)
133.8 53.5 
Operating materials and supplies205.7 165.4 
$3,363.0 $2,548.4 
Other current assets
Income and other taxes receivable$230.6 $234.9 
Prepaid expenses194.6 299.8 
Other20.6 29.1 
$445.8 $563.8 
Other assets
Restricted cash$14.2 $17.3 
MRO inventory141.9 169.0 
Marketable securities held in trust - restricted758.4 708.7 
Operating lease right-of-use assets223.6 220.0 
Indemnification asset26.9 18.4 
Long-term receivable14.7 12.9 
Cloud computing cost (b)
140.7 166.3 
Other274.7 207.7 
$1,595.1 $1,520.3 
 December 31,
(in millions)20252024
Accrued liabilities
Accrued dividends$75.9 $74.1 
Payroll and employee benefits168.8 161.8 
Asset retirement obligations271.3 352.8 
Customer prepayments297.3 270.7 
Accrued income and other taxes34.3 204.7 
Operating lease obligation59.6 43.9 
Other565.3 612.1 
$1,472.5 $1,720.1 
Other noncurrent liabilities
Asset retirement obligations$2,330.6 $2,219.4 
Operating lease obligation 166.0 181.2 
Accrued pension and postretirement benefits102.8 91.6 
Unrecognized tax benefits23.1 17.7 
Other388.9 353.0 
$3,011.4 $2,862.9 
______________________________
(a)Final price deferred is product that has shipped to customers, but we retain control and do not recognize revenue until a sales contract has been agreed to with the customer.
(b)Implementation costs eligible for capitalization related to cloud computing arrangements that are a service contract are recorded within Prepaid expenses and Other assets in the Consolidated Balance Sheets and amortized over the reasonably certain term of the associated hosting arrangement.
Interest expense, net was comprised of the following in 2025, 2024 and 2023:
 Years Ended December 31,
(in millions)202520242023
Interest income$53.8 $47.2 $59.6 
Less interest expense241.5 230.0 189.0 
Interest expense, net$(187.7)$(182.8)$(129.4)
v3.25.4
Property, Plant and Equipment
12 Months Ended
Dec. 31, 2025
Property, Plant and Equipment [Abstract]  
Property Plant And Equipment PROPERTY, PLANT AND EQUIPMENT
Property, plant and equipment consist of the following:
 December 31,
(in millions)20252024
Land$364.7 $352.5 
Mineral properties and rights7,254.0 6,831.3 
Buildings and leasehold improvements4,079.4 3,836.4 
Machinery and equipment12,406.3 11,684.0 
Construction in-progress1,004.2 1,148.1 
25,108.6 23,852.3 
Less: accumulated depreciation and depletion11,126.0 10,499.7 
$13,982.6 $13,352.6 
Depreciation and depletion expense was $1,022.1 million, $1,012.5 million, and $958.9 million for 2025, 2024 and 2023, respectively. Interest capitalized on major construction projects was $31.7 million, $42.3 million, and $35.2 million for 2025, 2024 and 2023, respectively.
v3.25.4
Earnings Per Share
12 Months Ended
Dec. 31, 2025
Earnings Per Share [Abstract]  
Earnings per share EARNINGS PER SHARE
The numerator for basic and diluted earnings per share (“EPS”) is net earnings attributable to Mosaic. The denominator for basic EPS is the weighted average number of shares outstanding during the period. The denominator for diluted EPS also includes the weighted average number of additional common shares that would have been outstanding if the dilutive potential common shares had been issued, unless the shares are anti-dilutive.
The following is a reconciliation of the numerator and denominator for the basic and diluted EPS computations:
 Years Ended December 31,
(in millions)202520242023
Net earnings attributable to Mosaic$540.7 $174.9 $1,164.9 
Basic weighted average number of shares outstanding attributable to common stockholders317.3 319.8 331.3 
Dilutive impact of share-based awards1.6 0.9 1.9 
Diluted weighted average number of shares outstanding318.9 320.7 333.2 
Basic net earnings per share$1.70 $0.55 $3.52 
Diluted net earnings per share$1.70 $0.55 $3.50 
A total of 0.2 million shares for 2025, 1.0 million shares for 2024 and 0.5 million shares for 2023 of common stock subject to issuance related to share-based awards have been excluded from the calculation of diluted EPS because the effect would have been anti-dilutive.
v3.25.4
Cash Flow Information
12 Months Ended
Dec. 31, 2025
Supplemental Cash Flow Elements [Abstract]  
Cash Flow Information CASH FLOW INFORMATION
Supplemental disclosures of cash paid for interest and income taxes and non-cash investing and financing information is as follows:
Years Ended December 31,
(in millions)202520242023
Cash paid during the period for:
Interest$223.9 $228.7 $204.7 
Less amount capitalized31.7 42.3 35.2 
Cash interest, net$192.2 $186.4 $169.5 
Income taxes$321.3 $337.0 $385.6 
Acquiring or constructing property, plant and equipment by incurring a liability does not result in a cash outflow for us until the liability is paid. In the period the liability is incurred, the change in operating accounts payable on the Consolidated Statements of Cash Flows is adjusted by such amount. In the period the liability is paid, the amount is reflected as a cash outflow from investing activities. The applicable net change in operating accounts payable that was classified to investing activities on the Consolidated Statements of Cash Flows was $8.4 million, $(20.3) million, and $(19.5) million for 2025, 2024 and 2023, respectively.
We accrued $75.9 million related to the dividends declared in 2025 that will be paid in 2026. At December 31, 2024 and 2023, we had accrued dividends of $74.1 million and $72.3 million which were paid in 2025 and 2024, respectively.
Included in proceeds from issuance of short-term debt and payments of short-term debt were $16.1 billion and ($16.2) billion and $16.8 billion and ($16.6) billion for 2025 and 2024, respectively, related to our commercial paper arrangement.
We had non-cash investing and financing transactions related to right-of-use assets obtained in exchange for lease obligations assets under finance leases in 2025 of $86.2 million. Non-cash investing and financing transactions related to assets acquired under capital leases were $9.0 million and $35.8 million for 2024 and 2023, respectively.
In 2024,we had a non-cash transaction related to the exchange of our 25% ownership MWSPC for 111,012,433 shares of Ma’aden at a value of approximately $1.5 billion, resulting in a gain before transaction expenses of $538.2 million.
Depreciation, depletion and amortization includes $1,022.1 million, $1,012.5 million and $958.9 million related to depreciation and depletion of property, plant and equipment and $27.8 million, $13.0 million and $1.7 million related to the amortization of intangible assets and cloud computing costs for 2025, 2024 and 2023, respectively.
v3.25.4
Investments in Non-consolidated Companies
12 Months Ended
Dec. 31, 2025
Equity Method Investments and Joint Ventures [Abstract]  
Investments in non-consolidated companies INVESTMENTS IN NON-CONSOLIDATED COMPANIES
We have investments in various international and domestic entities and ventures. The equity method of accounting is applied to such investments when the ownership structure prevents us from exercising a controlling influence over operating and financial policies of the businesses but still allow us to have significant influence. Under this method, our equity in the net earnings or losses of the investments is reflected as equity in net earnings of non-consolidated companies on our Consolidated Statements of Earnings. The effects of material intercompany transactions with these equity method investments are eliminated, including the the Company's economic interest in the gross profit on sales to and purchases from our equity-method investments which is deferred until the time of sale to the final third-party customer. The cash flow presentation of dividends received from equity method investees is determined by evaluation of the facts, circumstances and nature of the distribution.
A summary of our equity-method investments, which were in operation as of December 31, 2025, is as follows:
EntityEconomic Interest
River Bend Ag, LLC50.0 %
IFC S.A.45.0 %
Canpotex36.2 %
The summarized financial information shown below includes all non-consolidated companies carried on the equity method.
Years Ended December 31,
(in millions)202520242023
Net sales$4,256.1 $3,601.9 $7,055.1 
Net earnings5.8 6.2 317.9 
Mosaic’s share of equity in net earnings2.9 3.1 60.3 
Total assets2,328.4 1,883.8 9,900.6 
Total liabilities2,308.9 1,865.1 7,014.1 
Mosaic’s share of equity in net assets9.8 9.4 725.9 
MWSPC owns and operates a mine and two chemical complexes that produce phosphate fertilizers and other downstream phosphate products in the Kingdom of Saudi Arabia. As of December 31, 2023, our cash investment was $770.0 million and we marketed approximately 25% of the phosphate production of this joint venture. As of December 31, 2023, MWSPC represented 77% of the total assets and 68% of the total liabilities in the table above. In 2024 and 2023 our share of equity in net earnings of MWSPC was $70.8 million, and $57.6 million, respectively. On April 29, 2024, Saudi Arabian Mining Company (“Ma’aden”) and Mosaic entered into a Share Purchase and Subscription Agreement to exchange our 25% ownership of the Ma’aden Wa’ad al Shamal Phosphate Company for 111,012,433 shares of Ma’aden. This transaction closed on December 24, 2024, at a value of approximately $1.5 billion, resulting in a gain of $522.2 million, net of transaction costs. The shares received by Mosaic are subject to transfer and sale restrictions, which will be released over a five-year period. The shares are included in equity securities and investments in nonconsolidated companies on our Consolidated Balance Sheets. They are carried at fair value based on the unadjusted quoted price on the Saudi Exchange (Tadawul), with the changes in fair value reported in non-operating income (expense). During 2025 and 2024, we had unrealized gains on the Ma’aden shares of $317.4 million and $28.3 million, respectively.
Canpotex is a Saskatchewan export association used by two Canadian potash producers to market, sell and distribute Canadian potash products outside of Canada and the U.S. It operates as a break-even entity and therefore has insignificant equity earnings or loss. We have concluded that the sales to Canpotex are not at arm’s-length, due to the unique pricing and payment structure and financial obligations of the stockholders. Therefore, the Company's economic interest in the profit on sales to Canpotex is eliminated until Canpotex no longer has control of the related inventory and has sold it to an unrelated third-party customer. We eliminate the intra-entity profit with Canpotex at the end of each reporting period and present that profit elimination by reversing revenue and cost of goods sold for the inventory remaining at Canpotex.
v3.25.4
Goodwill
12 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill GOODWILL
Goodwill is carried at cost, not amortized, and represents the excess of the purchase price and related costs over the fair value assigned to the net identifiable assets of a business acquired. We test goodwill for impairment on a quantitative basis at the reporting unit level on an annual basis or upon the occurrence of events that may indicate possible impairment. Impairment is measured as the excess carrying value over the fair value of goodwill.
The changes in the carrying amount of goodwill, by reporting unit, as of December 31, 2025 and 2024, are as follows:
(in millions)PotashMosaic FertilizantesCorporate, Eliminations and OtherTotal
Balance as of December 31, 2023$1,026.9 $99.6 $12.1 $1,138.6 
Foreign currency translation(71.5)(6.0)— (77.5)
Balance as of December 31, 2024$955.4 $93.6 $12.1 $1,061.1 
Foreign currency translation41.2 2.7 — 43.9 
Impairment(3.6)(96.3)— (99.9)
Balance as of December 31, 2025$993.0 $— $12.1 $1,005.1 
As of October 31, 2025, we performed our annual quantitative assessment. In performing our assessment, we estimated the fair value of each of our reporting units using the income approach, also known as the discounted cash flow (“DCF”) method. Our reporting unit fair value measurements are classified as Level 3 in the fair value hierarchy because they involve significant unobservable inputs and internal projections. The future cash flows for our reporting units were projected based on our estimates, at that time, for revenue, operating income and other factors (such as working capital and capital expenditures for each reporting unit). To determine if the fair value of each of our reporting units with goodwill exceeded its carrying value, we assumed sales volume growth rates based on our long-term expectations, our internal selling prices and projected raw material prices for years one through five, which were anchored in projections from CRU International Limited (“CRU”), an independent third party data source. Selling prices and raw material prices for years six and beyond were based on anticipated market growth and long-term CRU outlooks. The discount rates used in our DCF method were based on a weighted-average cost of capital (“WACC”), determined from relevant market comparisons. A terminal value growth rate of 2% was applied to all years thereafter for the projected period and reflected our estimate of stable growth. We then calculated a present value of the respective cash flows for each reporting unit to arrive at an estimate of fair value under the income approach. Finally, we compared our estimates of fair values for our reporting units, to our October 31, 2025 total public market capitalization, based on our common stock price at that date.
In making this assessment, we considered, among other things, expectations of projected net sales and cash flows, assumptions impacting WACC, changes in our stock price and changes in the carrying values of our reporting units with goodwill. We also considered overall business conditions. As a result of our test, we concluded that the carrying value of our Mosaic Fertilizantes reporting unit was in excess of its fair value due to a combination of an increase in carrying value and a reduction in our long-term forecast due to recent market forecasts. Therefore, we recognized a goodwill impairment charge of $96.3 million. We also recognized an impairment of $3.6 million in our Potash reporting unit related to classifying our Carlsbad, New Mexico facility as held for sale.
The Potash and Corporate, Eliminations and Other reporting units were evaluated and not considered at risk of goodwill impairment at October 31, 2025.
As of December 31, 2025, $15.6 million of goodwill was deductible for tax purposes.
v3.25.4
Financing Arrangements
12 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
Financing Arrangements FINANCING ARRANGEMENTS
Mosaic Credit Facility
On May 16, 2025, we amended our committed, unsecured five-year revolving credit facility of up to $2.5 billion (the “Amended and Restated Mosaic Credit Facility”), extending the maturity date to May 16, 2030, from August 19, 2026. This facility is intended to serve as our primary unsecured bank credit facility. The Amended and Restated Mosaic Credit Facility also reduces the rates applicable to the unused commitment fees and provides us with additional flexibility under other restrictive covenants, compared to the facility prior to this amendment.
The Amended and Restated Mosaic Credit Facility has cross-default provisions that, in general, provide that a failure to pay principal or interest under, or any other amount payable under, any indebtedness with outstanding principal amount of $100 million or more, or breach or default under such indebtedness that permits the holders thereof to accelerate the maturity thereof, will result in a cross-default.
The Amended and Restated Mosaic Credit Facility requires Mosaic to maintain certain financial ratios, including a ratio of Consolidated Indebtedness (as defined), which has been redefined to exclude unrestricted cash and cash equivalents, to Consolidated Capitalization Ratio (as defined) of no greater than 0.65 to 1.0, as well as a minimum Interest Coverage Ratio (as defined) of not less than 3.0 to 1.0. We were in compliance with these ratios as of December 31, 2025.
The Amended and Restated Mosaic Credit Facility also contains other events of default and covenants that limit various matters. These provisions include limitations on indebtedness, liens, investments and acquisitions (other than capital expenditures), certain mergers, certain sales of assets and other matters customary for credit facilities of this nature.
As of December 31, 2025 and 2024, we had no outstanding letters of credit that reduced the availability of revolving loans under the Amended and Restated Mosaic Credit Facility. The net availability for revolving borrowings under this facility was approximately $2.50 billion as of both December 31, 2025 and December 31, 2024. In 2025, unused commitment fees accrued at a rate of 0.15% through May 16, 2025, the date the credit facility was amended, and at a rate of 0.125% thereafter, resulting in total expense of $3.4 million for the year. For the years ended December 31, 2024 and 2023 unused commitment fees accrued at an average rate of 0.15%, resulting in expenses of $3.8 million in each period.
Short-Term Debt
Short-term debt consists of the revolving credit facility under the Amended and Restated Mosaic Credit Facility, under which there were no borrowings as of December 31, 2025, working capital financing arrangements and various other short-term borrowings related to our international operations in India, China and Brazil. These other short-term borrowings outstanding were $759.9 million and $847.1 million as of December 31, 2025 and 2024, respectively.
We have an inventory financing arrangement whereby we can sell up to $625 million of certain inventory for cash and subsequently repurchase the inventory at an agreed upon price and time in the future, not to exceed 180 days. Under the terms of the agreement, we may borrow up to 90% of the value of the inventory. It is later repurchased by Mosaic at the original sale price plus interest and any transaction costs. As of December 31, 2025 and 2024, we had financed inventory of $300.2 million and $199.5 million, respectively, under this arrangement, which is included in short-term debt on the Consolidated Balance Sheet.
We have Receivable Purchasing Agreements (“RPAs”), with banks whereby, from time-to-time, we sell certain receivables. The net face value of the purchased receivables may not exceed $500 million at any point in time. The purchase price of the receivable sold under the RPA is the face value of the receivable less an agreed upon discount. The receivables sold under the RPAs are accounted for as true sales. Upon sale, these receivables are removed from the Consolidated Balance Sheets. Cash received is presented as cash provided by operating activities in the Consolidated Statements of Cash Flows.
The Company sold approximately $668.9 million and $430.7 million during 2025 and 2024, respectively, of accounts receivable under these arrangements. Discounts on sold receivables were not material for any period presented. Following the sale to the banks, we continue to service the collection of the receivables on behalf of the banks without further consideration. As of December 31, 2025 and 2024, there was no amount outstanding to be remitted to the bank. Any outstanding amount would be classified in accrued liabilities on the Consolidated Balance Sheets. Cash collected and remitted is presented as cash used in financing activities in the Consolidated Statements of Cash Flows.
We have a commercial paper program which allows us to issue unsecured commercial paper notes with maturities that vary, but do not exceed 397 days from the date of issue, up to a maximum aggregate face or principal amount outstanding at any time of $2.5 billion. We plan to use the revolving credit facility as a liquidity backstop for borrowings under the commercial paper program. As of December 31, 2025, we had $459.5 million outstanding under this program, with a weighted average interest rate of 3.99% and a remaining average term of 10 days. As of December 31, 2024, we had $609.2 million outstanding under this program, with a weighted average interest rate of 4.74% and a remaining average term of 10 days.
We had additional outstanding bilateral letters of credit of $64.6 million as of December 31, 2025, which includes $50.0 million as required by the 2015 Consent Decrees as described further in Note 14 of our Consolidated Financial Statements.
Long-Term Debt, including Current Maturities
On, November 10, 2025, we issued new senior notes consisting of $500 million aggregate principal amount of 4.350% due 2029 and $400 million aggregate principal amount of 4.60% due 2030 (the “Senior Notes of 2025”). We have the following additional senior notes outstanding: $700 million aggregate principal amount of 4.050% senior notes due 2027 (the “Senior Notes of 2017”), $400 million aggregate principal amount of 5.375% due 2028 (the “Senior Notes of 2023”); and $500 million aggregate principal amount of 5.45% senior notes due 2033 and $600 million aggregate principal amount of 5.625% senior notes due 2043 (collectively, the “Senior Notes of 2013”); and $300 million aggregate principal amount of 4.875% senior notes due 2041 (the “Senior Notes of 2011”).
The Senior Notes of 2011, the Senior Notes of 2013, the Senior Notes of 2017, the Senior Notes of 2023 and the Senior Notes of 2025 are Mosaic’s senior unsecured obligations and rank equally in right of payment with Mosaic’s existing and future senior unsecured indebtedness. The indenture governing these notes contains restrictive covenants limiting debt secured by liens, sale and leaseback transactions and mergers, consolidations and sales of substantially all assets, as well as other events of default.
In May 2023, we entered into a ten year senior unsecured term loan facility pursuant to which we can draw up to $700 million. The term loan matures on May 18, 2033. We may voluntarily prepay the outstanding principal without premium or penalty. As of December 31, 2025 and 2024, $570 million has been drawn under this facility. Interest rates for the term loan are variable and are based on the Secured Overnight Financing Rate (“SOFR”) plus credit spread adjustments.
A debenture issued by Mosaic Global Holdings, Inc., one of our consolidated subsidiaries, due in 2028 (the “2028 Debenture”), is outstanding as of December 31, 2025, with a balance of $147.1 million. The indenture governing the 2028 Debenture also contains restrictive covenants limiting debt secured by liens, sale and leaseback transactions and mergers, consolidations and sales of substantially all assets, as well as events of default. The obligations under the 2028 Debenture are guaranteed by the Company and several of its subsidiaries.
Long-term debt primarily consists of unsecured notes, unsecured debentures, our term loan, finance leases, and secured notes. Long-term debt as of December 31, 2025 and 2024, respectively, consisted of the following:
20252024
(in millions)
Stated Interest Rate

Effective Interest Rate
Maturity Date
Stated Value
Combination Fair
Market
Value Adjustment
Discount on Notes Issuance
Carrying Value

Stated Value
Combination Fair
Market
Value Adjustment
Discount on Notes Issuance
Carrying Value
Unsecured notes
4.05% -
5.63%
5.26%2027-
2043
$3,400.0 $— $(5.6)$3,394.4 $2,500.0 $— $(5.1)$2,494.9 
Unsecured debentures
7.30%
7.19%2028147.1 0.2 — 147.3 147.1 0.3 — 147.4 
Term Loan30 Day SOFR6.27%2033570.0 — — 570.0 570.0 — — 570.0 
Finance leases
0.77% -
13.02%
7.82%2026-
2034
176.0 — — 176.0 144.8 — — 144.8 
Other(a)
6.53% -
8.00%
5.00%2026-
2027
3.3 3.0 — 6.3 17.1 3.4 — 20.5 
Total long-term debt
4,296.4 3.2 (5.6)4,294.0 3,379.0 3.7 (5.1)3,377.6 
Less current portion
43.0 0.8 (0.7)43.1 45.4 0.4 (0.5)45.3 
Total long-term debt, less current maturities
$4,253.4 $2.4 $(4.9)$4,250.9 $3,333.6 $3.3 $(4.6)$3,332.3 
______________________________
(a) Includes deferred financing fees related to our long-term debt.
Scheduled maturities of long-term debt are as follows for the periods ending December 31:
(in millions) 
2026$43.1 
2027727.4 
2028575.2 
2029569.1 
2030404.3 
Thereafter1,974.9 
Total$4,294.0 
Structured Accounts Payable Arrangements
In Brazil, we finance some of our potash-based fertilizer, sulfur, ammonia and other raw material product purchases through third-party contractual arrangements. These arrangements provide that the third-party intermediary advance the amount of the scheduled payment to the vendor, less an appropriate discount, at a scheduled payment date and Mosaic makes payment to the third-party intermediary at dates ranging from 119 to 193 days from date of shipment. At December 31, 2025 and 2024, these structured accounts payable arrangements were $480.1 million and $402.3 million, respectively. Payments and proceeds rollforward information on structured payable arrangements are provided on the Consolidated Statements of Cash Flows. During 2025 and 2024, the interest expense component of such programs were $21.9 million and $22.9 million, respectively.
v3.25.4
Marketable Securities Held in Trusts
12 Months Ended
Dec. 31, 2025
Investments, Debt and Equity Securities [Abstract]  
Marketable Securities Held in Trusts MARKETABLE SECURITIES HELD IN TRUSTS
In August 2016, Mosaic deposited $630 million into two trust funds (together, the “RCRA Trusts”) created to provide additional financial assurance in the form of cash for the estimated costs (“Gypstack Closure Costs”) of closure and long-term care of our Florida and Louisiana phosphogypsum management systems (“Gypstacks”), as described further in Note 14 of our Notes to Consolidated Financial Statements. Our actual Gypstack Closure Costs are generally expected to be paid by us in the normal course of our Phosphate business; however, funds held in each of the RCRA Trusts can be drawn by the applicable governmental authority in the event we cannot perform our closure and long-term care obligations. When our estimated Gypstack Closure Costs with respect to the facilities associated with a RCRA Trust are sufficiently lower than the amount on deposit in that RCRA Trust, we have the right to request that the excess funds be released to us. The same is true for the RCRA Trust balance remaining after the completion of our obligations, which will be performed over a period that may not end until three decades or more after a Gypstack has been closed. The investments held by the RCRA Trusts are managed by independent investment managers with discretion to buy, sell and invest pursuant to the objectives and standards set forth in the related trust agreements. Amounts reserved to be held or held in the RCRA Trusts (including losses or reinvested earnings) are included in other assets on our Consolidated Balance Sheets.
The RCRA Trusts hold investments, which are restricted from our general use, in marketable debt securities classified as available-for-sale and are carried at fair value. As a result, unrealized gains and losses are included in other comprehensive income until realized, unless it is determined that the entire unamortized cost basis of the investment is not expected to be recovered. A credit loss would then be recognized in operations for the amount of the expected credit loss. As of December 31, 2025, we expect to recover our amortized cost on all available-for-sale securities and have not established an allowance for credit loss.
We review the fair value hierarchy classification on a quarterly basis. Changes in the ability to observe valuation inputs may result in a reclassification of levels for certain securities within the fair value hierarchy. We determine the fair market values of our available-for-sale securities and certain other assets based on the fair value hierarchy described below:
Level 1: Values based on unadjusted quoted prices in active markets that are accessible at the measurement date for identical assets or liabilities.
Level 2: Values based on quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, or model-based valuation techniques for which all significant assumptions are observable in the market.
Level 3: Values generated from model-based techniques that use significant assumptions not observable in the market. These unobservable assumptions reflect our own estimates of assumptions that market participants would use in pricing the asset or liability. Valuation techniques include use of option pricing models, discounted cash flow models and similar techniques.
The estimated fair value of the investments in the RCRA Trusts as of December 31, 2025 and December 31, 2024 are as follows:
December 31, 2025
(in millions)Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair
Value
Level 1
    Cash and cash equivalents $4.8 $— $— $4.8 
Level 2
    Corporate debt securities218.8 3.4 (2.8)219.4 
    Municipal bonds208.3 3.9 (1.3)210.9 
    U.S. government bonds308.7 — (0.5)308.2 
Total$740.6 $7.3 $(4.6)$743.3 
December 31, 2024
(in millions)Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair
Value
Level 1
    Cash and cash equivalents $3.1 $— $— $3.1 
Level 2
    Corporate debt securities203.3 0.8 (6.8)197.3 
    Municipal bonds210.8 0.7 (4.0)207.5 
    U.S. government bonds295.1 — (7.8)287.3 
Total$712.3 $1.5 $(18.6)$695.2 
The following tables show gross unrealized losses and fair values of the RCRA Trusts’ available-for-sale securities that have been in a continuous unrealized loss position for which an allowance for credit losses has not been recorded as of December 31, 2025 and December 31, 2024.
December 31, 2025December 31, 2024
Securities that have been in a continuous loss position for less than 12 months (in millions):
Fair
Value
Gross
Unrealized
Losses
Fair
Value
Gross
Unrealized
Losses
Corporate debt securities$17.0 $(0.2)$53.4 $(0.7)
Municipal bonds14.0 — 102.4 (1.7)
U.S. government bonds306.2 (0.5)280.9 (7.8)
Total$337.2 $(0.7)$436.7 $(10.2)
December 31, 2025December 31, 2024
Securities that have been in a continuous loss position for more than 12 months (in millions):
Fair
Value
Gross
Unrealized
Losses
Fair
Value
Gross
Unrealized
Losses
Corporate debt securities$48.3 $(2.7)$81.3 $(6.1)
Municipal bonds40.2 (1.2)55.6 (2.3)
U.S. government bonds— — — — 
Total$88.5 $(3.9)$136.9 $(8.4)
The following table summarizes the balance by contractual maturity of the available-for-sale debt securities invested by the RCRA Trusts as of December 31, 2025. Actual maturities may differ from contractual maturities because the issuers of the securities may have the right to prepay obligations before the underlying contracts mature.
(in millions)December 31, 2025
Due in one year or less$13.1 
Due after one year through five years308.6 
Due after five years through ten years373.8 
Due after ten years43.0 
Total debt securities$738.5 
For the year ended December 31, 2025, realized gains and (losses) were $10.4 million and $(8.9) million, respectively. For the year ended December 31, 2024, realized gains and (losses) were $17.5 million and $(15.1) million, respectively and for the year ended December 31, 2023, realized gains and (losses) were $9.5 million and $(28.9) million, respectively.
v3.25.4
Income Taxes
12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
Income Taxes INCOME TAXES
In preparing our Consolidated Financial Statements, we utilize the asset and liability approach in accounting for income taxes. We recognize income taxes in each of the jurisdictions in which we have a presence. For each jurisdiction, we estimate the actual amount of income taxes currently payable or receivable, as well as deferred income tax assets and liabilities attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred income tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which these temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date.
Income (loss) before income taxes for 2025, 2024 and 2023 consisted of the following:
Years Ended December 31,
(in millions)202520242023
Domestic earnings$159.5 $(557.8)$121.6 
Foreign earnings1,053.4 873.21,204.3 
Earnings (loss) from consolidated companies before income taxes$1,212.9 $315.4 $1,325.9 
The provision for income taxes for 2025, 2024 and 2023 consisted of the following:
 Years Ended December 31,
(in millions)202520242023
Current:
Federal$42.1 $(11.7)$86.4 
State3.3 10.7 1.5 
Non-U.S.331.5 339.2 357.4 
Total current376.9 338.2 445.3 
Noncurrent:
Federal$(1.9)$(0.1)$0.3 
State9.4 — — 
Non-U.S.(1.8)(10.8)(3.0)
Total noncurrent5.7 (10.9)(2.7)
Deferred:
Federal$(1.4)$(41.7)$(35.4)
State7.5 (29.0)(4.2)
Non-U.S.251.1 (69.9)(226.0)
Total deferred257.2 (140.6)(265.6)
Total:
Federal$38.8 $(53.5)$51.3 
State20.2 (18.3)(2.7)
Non-U.S.580.8 258.5 128.4 
Provision for income taxes$639.8 $186.7 $177.0 
The table below provides the updated requirements of ASU 2023-09 for 2025. The effects of significant adjustments to tax computed at the federal statutory rate were as follows:
Years Ended December 31, 2025
(in millions)AmountPercent
Computed tax at the U.S. federal statutory rate$254.7 21.0 %
State and local income taxes, net of federal income tax effect(1)
14.5 1.2 %
Effect of changes in tax laws or rates enacted in the current period— — %
Effect of cross-border tax laws
    U.S. tax on Canadian branches, net of credits(95.5)(7.9)%
    Global Intangible Low-Taxed Income, net of credits42.3 3.5 %
    Other23.1 1.9 %
Tax credits
    U.S. general basket foreign tax credits(45.4)(3.7)%
    Other(7.3)(0.6)%
Changes in valuation allowances101.8 8.4 %
Nontaxable or nondeductible items                              
    Percentage depletion in excess of basis(20.5)(1.7)%
    Corporate expenses paid on behalf of foreign subsidiaries15.5 1.3 %
    Other10.7 0.9 %
Foreign tax effects
  Brazil
    Book loss on sale of the Taquari mine22.3 1.8 %
    Changes in valuation allowances207.3 17.1 %
    Other53.7 4.4 %
    Withholding tax on interest18.7 1.5 %
  Canada
    Statutory tax rate difference between Canada and U.S.(40.1)(3.3)%
    Provincial taxes68.1 5.6 %
    Other(14.7)(1.2)%
    Withholding tax on dividends14.1 1.2 %
  Peru
    Statutory tax rate difference between Peru and U.S.14.3 1.2 %
    Other15.4 1.3 %
  Other foreign jurisdictions7.7 0.6 %
Worldwide changes in unrecognized tax benefits(3.1)(0.3)%
Other Adjustments
  Domestic federal
    Estimated loss on sale of Carlsbad(24.3)(2.0)%
    Other6.5 0.5 %
Effective tax rate$639.8 52.7 %
(1)State taxes in Minnesota made up the majority (greater than 50 percent) of the tax effect in this category.
As previously disclosed for the years ended December 31, 2024 and 2023, prior to the adoption of ASU 2023-09, the effects of significant adjustments to tax computed at the federal statutory rate, were as follows:
 Years Ended December 31,
(in millions)20242023
Computed tax at the U.S. federal statutory rate21.0 %21.0 %
State and local income taxes, net of federal income tax benefit(5.7)%0.4 %
Percentage depletion in excess of basis(13.8)%(4.9)%
Impact of non-U.S. earnings23.8 %8.7 %
Change in valuation allowance13.0 %(1.7)%
Non-U.S. incentives(42.6)%(11.5)%
Withholding tax13.6 %6.3 %
U.S. general basket foreign tax credits(12.6)%(4.0)%
Tax legislation change impacts(5.7)%(1.6)%
Undistributed earnings33.0 %2.2 %
Tax on dividends, deemed dividends, and GILTI16.2 %0.7 %
Nondeductible expenses20.0 %0.2 %
Other items (none in excess of 5% of computed tax)(1.0)%(2.5)%
Effective tax rate59.2 %13.3 %
2025 Effective Tax Rate
In the year ended December 31, 2025, there were two items impacting the effective tax rate: 1) items attributable to ordinary business operations during the year, and 2) other items specific to the period.
The tax impact of our ordinary business operations is affected by the mix of earnings across jurisdictions in which we operate, by a benefit associated with depletion, changes in valuation allowances and by the impact of certain entities being taxed in both their foreign jurisdiction and the U.S., including foreign tax credits for various taxes incurred.
For the year ended December 31, 2025, tax expense specific to the period included a net expense of $189.3 million. The net expense relates to the following: $212.1 million primarily related to changes to valuation allowances in Brazil, $6.4 million related to share-based excess benefit, $23.3 million related to adjustments to accrued foreign tax credits, and $4.0 million related to other miscellaneous expenses. The tax expenses are partially offset by a net tax benefit related to the tax effects of one-time notable items booked as discrete of $54.2 million, and the true-up of estimates from our U.S. and non-U.S. tax return provisions of $2.3 million.
2024 Effective Tax Rate
In the year ended December 31, 2024, there were two items impacting the effective tax rate: 1) items attributable to ordinary business operations during the year, and 2) other items specific to the period.
The tax impact of our ordinary business operations is affected by the mix of earnings across jurisdictions in which we operate, by a benefit associated with depletion, changes in valuation allowances and by the impact of certain entities being taxed in both their foreign jurisdiction and the U.S., including foreign tax credits for various taxes incurred.
For the year ended December 31, 2024, tax expense specific to the period included a net expense of $125.9 million. The net expense relates to the following: $99.9 million related to the impact of accruing withholding tax expense on expected foreign distributions associated with changes in management’s indefinite reinvestment assertion on select foreign earnings under ASC 740-30 (formerly APB 23), $7.1 million related to true-up of estimates from our U.S. and non-U.S. tax return provisions, $24.2 million related to changes to valuation allowances in Brazil, the Netherlands and the U.S., $4.0 million related to share-based excess benefit, $2.5 million related to changes in tax rates and $6.2 million related to other miscellaneous expenses. The tax expenses are partially offset by a net tax benefit related to changes in U.S. state tax law of $18.1 million.
2023 Effective Tax Rate
In the year ended December 31, 2023, there were two items impacting the effective tax rate: 1) items attributable to ordinary business operations during the year, and 2) other items specific to the period.
The tax impact of our ordinary business operations is affected by the mix of earnings across jurisdictions in which we operate, by a benefit associated with depletion, by a benefit associated with non-U.S. incentives, changes in valuation allowances, and by the impact of certain entities being taxed in both their foreign jurisdiction and the U.S., including foreign tax credits for various taxes incurred.
Tax expense specific to the period included a net benefit of $43.4 million. The net benefit relates to the following: $38.1 million related to true-up of estimates primarily related to our U.S. tax return, $24.4 million related to changes to valuation allowances in Brazil, and $11.6 million related to an increase in a U.S. deferred tax asset. The tax benefits are partially offset by a net tax cost of $29.3 million related to income tax expense on undistributed earnings and $1.4 million of other miscellaneous costs.
Net cash paid (refunds received) for income taxes consisted of the following:
Years Ended December 31,
(in millions)
202520242023
U.S. federal
$(10.8)$— $— 
U.S. state and local
7.0 — — 
Foreign
Canada federal148.7 — — 
Saskatchewan80.5 — — 
Canada other provincial
4.3 — — 
Peru
53.7 — — 
Brazil
19.5 — — 
Other
18.4 — — 
Cash paid (refunds received) for income taxes (prior to ASU 2023-09)
— 337.0 385.6 
Net cash paid (refunds received) for income taxes
$321.3 $337.0 $385.6 
Deferred Tax Liabilities and Assets
Significant components of our deferred tax liabilities and assets were as follows as of December 31:
 December 31,
(in millions)20252024
Deferred tax liabilities:
Depreciation and amortization$601.9 $614.5 
Depletion593.5 573.4 
Partnership tax basis differences63.5 80.6 
Undistributed earnings of non-U.S. subsidiaries47.4 84.4 
Other liabilities61.8 78.6 
Total deferred tax liabilities$1,368.1 $1,431.5 
Deferred tax assets:
Capital loss carryforwards12.3 15.0 
Foreign tax credit carryforwards1,553.2 1,431.8 
Net operating loss carryforwards479.8 450.6 
Pension plans and other benefits17.7 13.9 
Asset retirement obligations538.2 547.4 
Disallowed interest expense under §163(j)24.7 20.3 
Other assets418.9 497.3 
Subtotal3,044.8 2,976.3 
Valuation allowance1,866.0 1,529.3 
Net deferred tax assets1,178.8 1,447.0 
Net deferred tax assets/(liabilities)$(189.3)$15.5 
We have certain non-U.S. entities that are taxed in both their local jurisdiction and the U.S. As a result, we have deferred tax balances for both jurisdictions. As of December 31, 2025 and 2024, these non-U.S. deferred taxes are offset by approximately $202.5 million and $199.6 million, respectively, of anticipated foreign tax credits included within our depreciation and depletion components of deferred tax liabilities above. We have recorded a valuation allowance against the anticipated foreign tax credits of $202.5 million and $199.6 million for December 31, 2025 and 2024, respectively.
Tax Carryforwards
As of December 31, 2025, we had estimated carryforwards for tax purposes as follows: net operating losses of $1.8 billion, capital losses of $51.9 million, foreign tax credits of $1.6 billion and $3.6 million of non-U.S. business credits. These carryforward benefits may be subject to limitations imposed by the Internal Revenue Code, and in certain cases, provisions of foreign law. Approximately $1.2 billion of our net operating loss carryforwards relate to Brazil and can be carried forward indefinitely but are limited to 30 percent of taxable income each year. The Company established a valuation allowance against a portion of Brazil’s net operating loss carryforwards and other deferred tax assets of $261 million as of December 31, 2025 based on the likelihood that the net operating losses will not be used in the future. The majority of the remaining net operating loss carryforwards relate to U.S. federal and certain U.S. states and can be carried forward indefinitely. Of the $1.6 billion of foreign tax credits, approximately $320.8 million relates to general basket foreign tax credits of which $228.1 million have an expiration date of 2026, approximately $16.2 million have an expiration date of 2029, approximately $14.7 million have an expiration date of 2030, approximately $31.1 million have an expiration date of 2034, and approximately $30.7 million have an expiration date of 2035. The realization of our foreign tax credit carryforwards is dependent on market conditions, tax law changes and other business outcomes including our ability to generate certain types of taxable income in the future. Due to current business operations and future forecasts, the Company has determined that no valuation allowance is required on its general basket foreign tax credits. As a result of changes in U.S. tax law due to the Tax Cuts and Jobs Act, the Company recorded valuation allowances against its branch basket foreign tax credits of $1.2 billion as of December 31, 2025.
As of December 31, 2025, we have not recognized a deferred tax liability for un-remitted earnings from certain foreign operations because we believe our subsidiaries have invested the undistributed earnings indefinitely, or the earnings will be remitted in a tax-neutral transaction. It is not practicable for us to determine the amount of unrecognized deferred tax liability on these reinvested earnings. As part of the accounting for the Tax Cuts and Jobs Act, we recorded local country withholding taxes related to certain entities from which we began repatriating undistributed earnings and will continue to record local country withholding taxes, including foreign exchange impacts, on all future earnings.
Valuation Allowance
In assessing the need for a valuation allowance, we consider whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. We evaluate our ability to realize the tax benefits associated with deferred tax assets by analyzing the relative impact of all the available positive and negative evidence regarding our forecasted taxable income using both historical and projected future operating results, the reversal of existing taxable temporary differences, taxable income in prior carry-back years (if permitted) and the availability of tax planning strategies. The ultimate realization of deferred tax assets is dependent upon the generation of certain types of future taxable income during the periods in which those temporary differences become deductible. In making this assessment, we consider the scheduled reversal of deferred tax liabilities, our ability to carry back the deferred tax asset, projected future taxable income, and tax planning strategies. A valuation allowance will be recorded in each jurisdiction in which a deferred income tax asset is recorded when it is more likely than not that the deferred income tax asset will not be realized. Changes in deferred tax asset valuation allowances typically impact income tax expense.
For the year ended December 31, 2025, the valuation allowance increased by $336.7 million, of which a $110.8 million increase related to changes in the valuation allowance to U.S. branch foreign tax credits, $229.6 million related to changes in valuation allowances and currency translation in Brazil and a $5.3 million increase related to changes in valuation allowances in Peru. These increases to the valuation allowance were partially offset by a decrease of $1.5 million related to changes in the valuation allowance to U.S. state net operating losses and tax credits, $6.0 million related to changes in valuation allowances in Canada and $1.5 million related to changes in valuation allowances in other foreign jurisdictions.
For the year ended December 31, 2024, the valuation allowance increased by $107.4 million, of which a $105.4 million increase related to changes in the valuation allowance to U.S. branch foreign tax credits, $11.3 million related to changes in the valuation allowance to U.S. state net operating losses and tax credits and a $2.8 million increase related to changes in valuation allowances in Canada. These increases to the valuation allowance were partially offset by a decrease of $9.0 million related to changes in valuation allowances and currency translation in Brazil and $3.1 million changes in valuation allowances in other foreign jurisdictions.
For the year ended December 31, 2023, the valuation allowance increased by $512.0 million, of which a $531.0 million increase related to changes in the valuation allowance to U.S. branch foreign tax credits, and a $0.2 million increase related to changes in valuation allowances in other foreign jurisdictions. These increases to the valuation allowance were partially offset by a decrease of $12.7 million related to changes in valuation allowances and currency translation in Brazil and $6.5 million changes in valuation allowances in other foreign jurisdictions.
Changes to our income tax valuation allowance were as follows:
Years Ended December 31,
(in millions)202520242023
Income tax valuation allowance, related to deferred income taxes
Balance at beginning of period$1,529.3 $1,421.9 $909.9 
Charges or (reductions) to costs and expenses336.7 107.4 512.0 
Balance at end of period$1,866.0 $1,529.3 $1,421.9 
Uncertain Tax Positions
Accounting for uncertain income tax positions is determined by prescribing a minimum probability threshold that a tax position must meet before a financial statement benefit is recognized. This minimum threshold is that a tax position is more likely than not to be sustained upon examination by the applicable taxing authority, including resolution of any related
appeals or litigation processes, based on the technical merits of the position. The tax benefit to be recognized is measured as the largest amount of benefit that is greater than a fifty percent likelihood of being realized upon ultimate settlement.
During 2025, gross unrecognized tax benefits increased to $1.4 billion. The increase is primarily related to establishing an unrecognized tax benefit on a potential tax loss in the U.S. associated with the expected divestiture of the Taquari mine that was acquired as part of the Vale acquisition. In December, the Company applied to the Internal Revenue Services’ Pre-Filing Agreement Program to evaluate the amount and nature of the loss. If recognized, approximately $1.4 billion in unrecognized tax benefits would affect our effective tax rate, other deferred tax assets, and net earnings in future periods.
A summary of gross unrecognized tax benefit activity is as follows:
 Years Ended December 31,
(in millions)202520242023
Gross unrecognized tax benefits, beginning of period$14.2 $25.8 $25.2 
Gross increases:
Prior period tax positions— — 0.9 
Current period tax positions1,401.1 1.6 3.0 
Gross decreases:
Prior period tax positions(2.3)(11.5)(3.8)
Currency translation0.5 (1.7)0.5 
Gross unrecognized tax benefits, end of period$1,413.5 $14.2 $25.8 
We recognize interest and penalties related to unrecognized tax benefits as a component of our income tax expense. Interest and penalties accrued in our Consolidated Balance Sheets as of December 31, 2025 and 2024 were $6.0 million and $5.4 million, respectively, and are included in other noncurrent liabilities in the Consolidated Balance Sheets.

Open Tax Periods
We operate in multiple tax jurisdictions, both within the U.S. and outside the U.S., and face audits from various tax authorities regarding transfer pricing, deductibility of certain expenses and intercompany transactions, as well as other matters. With few exceptions, we are no longer subject to examination for tax years prior to 2022.
Mosaic is continually under audit by various tax authorities in the normal course of business. Such tax authorities may raise issues contrary to positions taken by the Company. If such positions are ultimately not sustained by the Company, this could result in material assessments to the Company. The costs related to defending, if needed, such positions on appeal or in court may be material. The Company believes that any issues considered are properly accounted for.
We are currently under audit by the Internal Revenue Service for the tax years ended December 31, 2022 and December 31, 2023. Based on the information available, we do not anticipate significant changes to our unrecognized tax benefits as a result of these examinations other than the amounts discussed above.
v3.25.4
Asset Retirement Obligations
12 Months Ended
Dec. 31, 2025
Asset Retirement Obligation Disclosure [Abstract]  
Accounting for Asset Retirement Obligations ASSET RETIREMENT OBLIGATIONS
We recognize our estimated AROs in the period in which we have an existing legal obligation associated with the retirement of a tangible long-lived asset and the amount of the liability can be reasonably estimated. The ARO is recognized at fair value when the liability is incurred with a corresponding increase in the carrying amount of the related long lived asset. We depreciate the tangible asset over its estimated useful life. The liability is adjusted in subsequent periods through accretion expense which represents the increase in the present value of the liability due to the passage of time. Such depreciation and accretion expenses are included in cost of goods sold for operating facilities and other operating expense for indefinitely closed facilities.
Our legal obligations related to asset retirement require us to: (i) reclaim lands disturbed by mining as a condition to receive permits to mine phosphate ore reserves; (ii) treat low pH process water in Gypstacks to neutralize acidity; (iii) close and monitor Gypstacks at our Florida and Louisiana facilities at the end of their useful lives; (iv) remediate certain other conditional obligations; (v) remove all surface structures and equipment, plug and abandon mine shafts, contour and revegetate, as necessary, and monitor for five years after closing our Carlsbad, New Mexico facility; (vi) decommission
facilities, manage tailings and execute site reclamation at our Saskatchewan potash mines at the end of their useful lives; (vii) decommission mines in Brazil and Peru; and (viii) decommission plant sites and closed Gypstacks in Brazil. The estimated liability for these legal obligations is based on the estimated cost to satisfy the above obligations which is discounted using a credit-adjusted risk-free rate.
A reconciliation of our AROs is as follows:
 Years Ended December 31,
(in millions)20252024
AROs, beginning of period$2,572.2 $2,213.4 
Liabilities incurred22.7 29.8 
Liabilities settled(288.9)(253.8)
Accretion expense129.7 111.2 
Revisions in estimated cash flows190.5 541.4 
Foreign currency translation37.8 (69.8)
Held for sale/disposed(62.1)— 
AROs, end of period2,601.9 2,572.2 
Less current portion271.3 352.8 
Non-current portion of AROs$2,330.6 $2,219.4 
North America Gypstack Closure Costs
A majority of our ARO relates to Gypstack Closure Costs in Florida and Louisiana. For financial reporting purposes, we recognize our estimated Gypstack Closure Costs at their present value. This present value determined for financial reporting purposes is reflected on our Consolidated Balance Sheets in accrued liabilities and other non-current liabilities. As of December 31, 2025 and 2024, the present value of our North American Gypstack Closure Costs ARO reflected in our Consolidated Balance Sheet was approximately $1.5 billion, respectively.
As discussed below, we have arrangements to provide financial assurance for the estimated Gypstack Closure Costs associated with our facilities in Florida and Louisiana.
EPA RCRA Initiative. On September 30, 2015, we and our subsidiary, Mosaic Fertilizer, LLC (“Mosaic Fertilizer”), reached agreements with the U.S. Environmental Protection Agency (“EPA”), the U.S. Department of Justice (“DOJ”), the Florida Department of Environmental Protection (“FDEP”) and the Louisiana Department of Environmental Quality on the terms of two consent decrees (collectively, the “2015 Consent Decrees”) to resolve claims relating to our management of certain waste materials onsite at our Riverview, New Wales, Green Bay, South Pierce and Bartow fertilizer manufacturing facilities in Florida and our Faustina and Uncle Sam facilities in Louisiana. This followed a 2003 announcement by the EPA Office of Enforcement and Compliance Assurance that it would be targeting facilities in mineral processing industries, including phosphoric acid producers, for a thorough review under the U.S. Resource Conservation and Recovery Act (“RCRA”) and related state laws. As discussed below, a separate consent decree was previously entered into with the EPA and the FDEP with respect to RCRA compliance at the Plant City Facility that we acquired as part of our acquisition of the Florida phosphate assets and assumption of certain related liabilities of CF Industries, Inc. (“CF”).
The remaining monetary obligations under the 2015 Consent Decrees include a provision of additional financial assurance for the estimated Gypstack Closure Costs for Gypstacks at the covered facilities. The RCRA Trusts are discussed in Note 12 to our Consolidated Financial Statements. In addition, we have agreed to guarantee the difference between the amounts held in each RCRA Trust (including any earnings) and the estimated closure and long-term care costs.
As of December 31, 2025 the undiscounted amount of our Gypstack Closure Costs ARO associated with the facilities covered by the 2015 Consent Decrees, determined using the assumptions used for financial reporting purposes, was approximately $2.3 billion, and the present value of our Gypstack Closure Costs ARO reflected in our Consolidated Balance Sheet for those facilities was approximately $1.1 billion.
Plant City and Bonnie Facilities. As part of the CF Phosphate Assets Acquisition, we assumed certain AROs related to Gypstack Closure Costs at both the Plant City Facility and a closed Florida phosphate concentrates facility in Bartow, Florida (the “Bonnie Facility”) that we acquired. Associated with these assets are two related financial assurance arrangements for
which we became responsible and that provided sources of funds for the estimated Gypstack Closure Costs for these facilities. Pursuant to federal or state laws, the applicable government entities are permitted to draw against such amounts in the event we cannot perform such closure activities. One of the financial assurance arrangements was initially a trust (the “Plant City Trust”) established to meet the requirements under a consent decree with the EPA and the FDEP with respect to RCRA compliance at the Plant City Facility. The Plant City Trust also satisfied Florida financial assurance requirements at that site. Beginning in September 2016, as a substitute for the financial assurance provided through the Plant City Trust, we have provided financial assurance for the Plant City Facility in the form of a surety bond (the “Plant City Bond”). The amount of the Plant City Bond is $337.6 million, which reflects our closure cost estimates as of December 31, 2025. The other financial assurance arrangement was also a trust fund (the “Bonnie Facility Trust”) established to meet the requirements under Florida financial assurance regulations that apply to the Bonnie Facility. In July 2018, we received $21.0 million from the Bonnie Facility Trust by substituting for the trust fund a financial test mechanism (“Bonnie Financial Test”) supported by a corporate guarantee as allowed by state regulations. Both financial assurance funding obligations require estimates of future expenditures that could be impacted by refinements in scope, technological developments, new information, cost inflation, changes in regulations, discount rates and the timing of activities. Under our current approach to satisfying applicable requirements, additional financial assurance would be required in the future if increases in cost estimates exceed the face amount of the Plant City Bond or the amount supported by the Bonnie Financial Test.
As of December 31, 2025 and 2024, the aggregate amounts of AROs associated with the combined Plant City Facility and Bonnie Facility Gypstack Closure Costs included in our consolidated balance sheet were $387.9 million and $368.7 million, respectively. The aggregate amount represented by the Plant City Bond exceeds the present value of the aggregate amount of ARO associated with that facility. This is because the amount of financial assurance we are required to provide represents the aggregate undiscounted estimated amount to be paid by us in the normal course of our Phosphate business over a period that may not end until three decades or more after the Gypstack has been closed, whereas the ARO included in our Consolidated Balance Sheet reflects the discounted present value of those estimated amounts.
v3.25.4
Derivative Instruments and Hedging Activities
12 Months Ended
Dec. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Accounting for Derivative Instruments and Hedging Activities DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES
We periodically enter into derivatives to mitigate our exposure to foreign currency risks, interest rate movements and the effects of changing commodity prices. We record all derivatives on the Consolidated Balance Sheets at fair value. The fair value of these instruments is determined by using quoted market prices, third-party comparables or internal estimates. We net our derivative asset and liability positions when we have a master netting arrangement in place. Changes in the fair value of the foreign currency, commodity and freight derivatives are immediately recognized in earnings. As of December 31, 2025 and 2024, the gross asset position of our derivative instruments was $3.3 million and $3.1 million, respectively, and the gross liability position of our liability instruments was $2.7 million and $87.8 million, respectively.
We do not apply hedge accounting treatments to our foreign currency exchange contracts, commodities contracts or freight contracts. Unrealized gains and (losses) on foreign currency exchange contracts used to hedge cash flows related to the production of our products are included in cost of goods sold in the Consolidated Statements of Earnings. Unrealized gains and (losses) on commodities contracts and certain forward freight agreements are also recorded in cost of goods sold in the Consolidated Statements of Earnings. Unrealized gains or (losses) on foreign currency exchange contracts used to hedge cash flows that are not related to the production of our products are included in the foreign currency transaction gain/(loss) caption in the Consolidated Statements of Earnings.
From time to time, we enter into fixed-to-floating interest rate contracts. We apply fair value hedge accounting treatment to these contracts. Under these arrangements we agree to exchange, at specified intervals, the difference between fixed and floating interest amounts calculated by reference to an agreed-upon notional principal amount. The mark-to-market of these fair value hedges is recorded as gains or (losses) in interest expense. We had no fixed-to-floating interest rate swap agreements in effect as of December 31, 2025 and 2024.
The following is the total absolute notional volume associated with our outstanding derivative instruments:
(in millions of Units)
InstrumentDerivative CategoryUnit of MeasureDecember 31,
2025
December 31,
2024
Foreign currency derivativesForeign CurrencyU.S. Dollars433.3 1,377.3 
Natural gas derivativesCommodityMM BTU0.9 2.5 
Credit-Risk-Related Contingent Features
Certain of our derivative instruments contain provisions that are governed by International Swap and Derivatives Association agreements with the counterparties. These agreements contain provisions that allow us to settle for the net amount between payments and receipts, and also state that if our debt were to be rated below investment grade, certain counterparties to the derivative instruments could request full collateralization on derivative instruments in net liability positions. The aggregate fair value of all derivative instruments with credit-risk-related contingent features that were in a liability position as of December 31, 2025 and 2024 was $0.6 million and $58.1 million, respectively. We have no cash collateral posted in association with these contracts. If the credit-risk-related contingent features underlying these agreements were triggered on December 31, 2025 we would have been required to post an additional $0.5 million of collateral assets, which are either cash or U.S. Treasury instruments, to the counterparties.
Counterparty Credit Risk
Financial instruments that may subject us to concentrations of credit risk consist primarily of derivatives, cash and cash equivalents and accounts receivable. We enter into foreign exchange, certain commodity and interest rate derivatives, and place our cash and cash equivalents with a diversified group of highly rated counterparties. We have a diverse base of customers to which we grant credit terms in the normal course of business which are designed to mitigate concentrations of credit risk. We continually monitor our positions and the credit ratings of the counterparties involved and limit the amount of credit exposure to any one party. We manage our exposure to counterparty credit risk through specific minimum credit standards, establishing credit limits, diversification of counterparties, monitoring procedures and utilization of credit insurance or cash collateral in certain circumstances. While we may be exposed to potential losses due to the credit risk of non-performance by these counterparties, material losses are not anticipated. We closely monitor the credit risk associated with our counterparties and customers and to date have not experienced material losses.
v3.25.4
Fair Value Measurements
12 Months Ended
Dec. 31, 2025
Fair Value Disclosures [Abstract]  
Fair Value Measurements FAIR VALUE MEASUREMENTS
Following is a summary of the valuation techniques for assets and liabilities recorded in our Consolidated Balance Sheets at fair value on a recurring basis:
Foreign Currency DerivativesThe foreign currency derivative instruments that we currently use are forward contracts and zero-cost collars, which typically expire within 18 months. Most of the valuations are adjusted by a forward yield curve or interest rates. In such cases, these derivative contracts are classified within Level 2. Some valuations are based on exchange-quoted prices, which are classified as Level 1. As of December 31, 2025, our foreign currency contracts were Level 2. Changes in the fair market values of these contracts are recognized in the Consolidated Financial Statements as a component of cost of goods sold in our Corporate, Eliminations and Other segment or foreign currency transaction gain (loss). As of December 31, 2025 and 2024, the gross asset position of our foreign currency derivative instruments was $3.3 million and $3.1 million, respectively, and the gross liability position of our foreign currency derivative instruments was $2.3 million and $86.1 million, respectively and is included in Accrued Liabilities in the Consolidated Balance Sheets.
Commodity DerivativesThe commodity contracts primarily relate to natural gas. The commodity derivative instruments that we currently use are forward purchase contracts, swaps and three-way collars. The natural gas contracts settle using NYMEX futures or AECO price indexes, which represent fair value at any given time. The contracts’ maturities and settlements are scheduled for future months and settlements are scheduled to coincide with anticipated gas purchases during those future periods. Quoted market prices from NYMEX and AECO are used to determine the fair value of these instruments. These market prices are adjusted by a forward yield curve and are classified within Level 2. Changes in the fair market values of these contracts are recognized in the Consolidated Financial Statements as a component of cost of goods sold in our Corporate, Eliminations and Other segment. As of December 31, 2025 and 2024, the gross asset position of our commodity
derivative instruments was zero, and the gross liability position of our commodity derivative instruments was $0.4 million and $1.7 million, respectively.
Interest Rate DerivativesWe manage interest expense through interest rate contracts to convert a portion of our fixed-rate debt into floating-rate debt. From time to time, we also enter into interest rate swap agreements to hedge our exposure to changes in future interest rates related to anticipated debt issuances. Valuations are based on external pricing sources and are classified as Level 2. Changes in the fair market values of these contracts are recognized in the Consolidated Financial Statements as a component of interest expense. We did not hold any interest rate derivative positions as of December 31, 2025 or 2024.
Financial Instruments
The carrying amounts and estimated fair values of our financial instruments are as follows:
 December 31,
 20252024
 CarryingFairCarryingFair
(in millions)AmountValueAmountValue
Cash and cash equivalents$276.6 $276.6 $272.8 $272.8 
Accounts receivable1,078.6 1,078.6 1,113.3 1,113.3 
Equity securities1,804.2 1,804.2 1,486.8 1,486.8 
Accounts payable1,171.9 1,171.9 1,156.5 1,156.5 
Structured accounts payable arrangements480.1 480.1 402.3 402.3 
Short-term debt759.9 759.9 847.1 847.1 
Long-term debt, including current portion4,294.0 4,311.0 3,377.6 3,324.1 
For cash and cash equivalents, accounts receivable, net, accounts payable, structured accounts payable arrangements and short-term debt, the carrying amount approximates fair value because of the short-term maturity of those instruments. Equity securities represent our Maaden shares and are carried at fair value based on the unadjusted quoted price on the Saudi Exchange (Tadawul), which results in a Level 1 classification. For more information on the Maaden shares, see Note 9 of our Notes to Consolidated Financial Statements. Included in long-term debt is floating rate debt of $570 million. Our floating rate debt is non-public and bears a variable SOFR based rate and consists of our borrowings under our term loan facility. The fair value of our floating rate debt approximates the carrying value and is estimated based on market-based inputs including interest rates and credit spreads, which results in a Level 2 classification. The fair value of fixed rate long-term debt, including the current portion, is estimated using quoted market prices for the publicly registered notes and debentures, classified as Level 1 and Level 2, respectively, within the fair value hierarchy, depending on the market liquidity of the debt. For information regarding the fair value of our marketable securities held in trusts, see Note 12 of our Notes to Consolidated Financial Statements.
v3.25.4
Guarantees and Indemnities
12 Months Ended
Dec. 31, 2025
Guarantees [Abstract]  
Guarantees and Indemnities GUARANTEES AND INDEMNITIES
We enter into various contracts that include indemnification and guarantee provisions as a routine part of our business activities. Examples of these contracts include asset purchase and sale agreements, surety bonds, financial assurances to regulatory agencies in connection with reclamation and closure obligations, commodity sale and purchase agreements and other types of contractual agreements with vendors and other third parties. These agreements indemnify counterparties for matters such as reclamation and closure obligations, tax liabilities, environmental liabilities, litigation and other matters, as well as breaches by Mosaic of representations, warranties and covenants set forth in these agreements. In many cases, we are essentially guaranteeing our own performance, in which case the guarantees do not fall within the scope of the accounting and disclosures requirements under U.S. GAAP. Our maximum potential exposure under our indemnification arrangements can range from a specified dollar amount to an unlimited amount, depending on the nature of the transaction. Many of the guarantees and indemnities we issue to third parties do not limit the amount or duration of our obligations to perform under them. For these guarantees and indemnities, we may not be able to estimate what our liability would be until a claim is made for payment or performance due to the contingent nature of these arrangements. Based on our current understanding of the relevant facts, we do not believe that we will be required to make any material payments under these indemnity provisions.
v3.25.4
Pension Plans and Other Benefits
12 Months Ended
Dec. 31, 2025
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]  
Pension Plans And Other Benefits PENSION PLANS AND OTHER BENEFITS
We sponsor pension and postretirement benefits through a variety of plans, including defined benefit plans, defined contribution plans and postretirement benefit plans in North America and certain of our international locations. We reserve the right to amend, modify or terminate the Mosaic sponsored plans at any time, subject to provisions of the Employee Retirement Income Security Act of 1974 (“ERISA”), prior agreements and our collective bargaining agreements.
Defined Benefit
We sponsor various defined benefit pension plans in Canada, which are closed to new participants. Benefits are based on different combinations of years of service and compensation levels, depending on the plan. Generally, contributions to Canadian plans are made in accordance with the Pension Benefits Act instituted by the province of Saskatchewan. Certain employees in Canada, whose pension benefits exceed Canada Revenue Agency limitations, are covered by supplementary non-qualified, unfunded pension plans. During 2023, we terminated certain defined pension plans in Canada by transferring remaining benefit obligations for participants to a third-party insurance company under a group annuity contract. As a result of these actions, we recognized a non-cash pre-tax settlement charge of $42.4 million in our 2023 Consolidated Statements of Earnings in Other income (expense).
We sponsor various defined benefit pension plans in Brazil, and we acquired multi-employer pension plans for certain of our Brazil associates. All our pension plans are governed by the Brazilian pension plans regulatory agency, National Superintendence of Supplementary Pensions. Our Brazil plans are not individually significant to the Company’s consolidated financial statements after factoring in the multi-employer pension plan indemnification that we acquired through an acquisition. We made contributions to these plans, net of indemnification, of $0.3 million and $0.4 million for the years ended December 31, 2025 and 2024, respectively.
Accounting for Pension Plans
The year-end status of the North American pension plans was as follows:
 Pension Plans
 Years Ended December 31,
(in millions)20252024
Change in projected benefit obligation:
Benefit obligation at beginning of period$114.6 $119.6 
Service cost2.7 3.0 
Interest cost5.2 5.5 
Actuarial loss(3.7)0.2 
Currency fluctuations5.5 (9.4)
Benefits paid and transfers(3.2)(4.3)
Plan amendments1.5 — 
Projected benefit obligation at end of period$122.6 $114.6 
Change in plan assets:
Fair value at beginning of period$146.3 $157.1 
Currency fluctuations6.9 (12.2)
Actual return1.1 12.8 
Company contribution0.4 (7.1)
Benefits paid and transfers(3.3)(4.3)
Fair value at end of period$151.4 $146.3 
Funded status of the plans as of the end of period$28.8 $31.7 
Amounts recognized in the consolidated balance sheets:
Noncurrent assets$34.6 $37.4 
Current liabilities(0.4)(0.4)
Noncurrent liabilities(5.4)(5.3)
Amounts recognized in accumulated other comprehensive (income) loss
Prior service cost$12.2 $11.9 
Actuarial loss17.3 14.8 
The accumulated benefit obligation for the defined benefit pension plans was $122.6 million and $114.6 million as of December 31, 2025 and 2024, respectively. In 2026, we expect the related plans to pay benefit payments of approximately $4.7 million and to contribute cash of at least $1.0 million to the pension plans to meet minimum funding requirements.
Plan Assets and Investment Strategies
The Company’s overall investment strategy is to obtain sufficient return and provide adequate liquidity to meet the benefit obligations of our pension plans. The primary investment objective is to secure the promised pension benefits through capital preservation and appreciation to better manage the asset/liability gap and interest rate risk. A secondary investment objective is to most effectively manage investment volatility to reduce the variability of the Company’s required contributions. A significant amount of the assets are invested in funds that are managed by Mosaic’s investment advisor and reviewed by Mosaic management. Plan assets are primarily valued based on external pricing sources and are classified as Level 2. We do not have significant concentrations of credit risk or industry sectors within the plan assets. Fair value measurements of plan assets was $151.4 million at December 31, 2025 and was invested approximately 85% in fixed income securities, 10% in equity securities, and 5% in other investment funds and cash.
Defined Contribution Plans
Eligible salaried and non-union hourly employees in the U.S. participate in a defined contribution investment plan which permits employees to defer a portion of their compensation through payroll deductions and provides matching contributions. We match 100% of the first 3% of the participant’s contributed pay plus 50% of the next 3% of the participant’s contributed pay, subject to Internal Revenue Service limits. Participant contributions, matching contributions and the related earnings immediately vest. Mosaic also provides an annual non-elective employer contribution feature for eligible salaried and non-union hourly employees based on the employee’s age and eligible pay. Participants are generally vested in the non-elective employer contributions after three years of service. In addition, a discretionary feature of the plan allows the Company to make additional contributions to employees. Certain union employees participate in a defined contribution retirement plan based on collective bargaining agreements.
Canadian salaried and non-union hourly employees participate in an employer funded plan with employer contributions similar to the U.S. plan. The plan provides a profit sharing component which is paid each year. We also sponsor one mandatory union plan in Canada. Benefits in these plans vest after two years of consecutive service.
The expense attributable to defined contribution plans in the U.S. and Canada was $63.9 million, $60.8 million and $61.7 million for 2025, 2024 and 2023, respectively.
Postretirement Medical Benefit Plans
We provide certain health care benefit plans for certain retired employees (“Retiree Health Plans”) which may be either contributory or non-contributory and contain certain other cost-sharing features such as deductibles and coinsurance.
The North American Retiree Health Plans are unfunded and the projected benefit obligation was $20.3 million and $20.6 million as of December 31, 2025 and 2024, respectively. This liability should continue to decrease due to our limited exposure. The related income statement effects of the Retiree Health Plans are not material to the Company. We anticipate contributing cash of at least $1.9 million in 2026 to the postretirement medical benefit plans to fund anticipated benefit payments.
The year-end status of the Brazil postretirement medical benefit plans with a discount rate of 11.70% and 9.95% on each of December 31, 2025 and 2024, respectively was as follows:
Postretirement Medical Benefits
Years Ended December 31,
(in millions)20252024
Change in accumulated postretirement benefit obligation (“APBO”):
APBO at beginning of year$54.3 $74.4 
Interest cost6.6 7.4 
Actuarial (gain) loss(1.8)(11.2)
Currency fluctuations7.2 (15.2)
Benefits paid(1.4)(1.1)
Net increase (decrease) in liability from acquisitions/disposals0.3 — 
APBO at end of year$65.2 $54.3 
Change in plan assets:
Company contribution$1.4 $1.1 
Benefits paid(1.4)(1.1)
Unfunded status of the plans as of the end of the year$(65.2)$(54.3)
Amounts recognized in the consolidated balance sheets:
Current liabilities$(1.4)$(1.4)
Noncurrent liabilities(63.8)(52.9)
Amounts recognized in accumulated other comprehensive income
Prior service credit$(8.2)$(8.8)
Actuarial (gain) loss$(2.5)$(0.6)
v3.25.4
Accumulated Other Comprehensive Income
12 Months Ended
Dec. 31, 2025
Accumulated Other Comprehensive Income [Abstract]  
Accumulated Other Comprehensive Income (Loss) Note ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (AOCI)
The following table sets forth the changes in AOCI by component during the years ended December 31, 2025, 2024 and 2023:
(in millions)Foreign Currency Translation Gain (Loss)Net Actuarial Gain and Prior Service CostAmortization of Gain on Interest Rate SwapNet Gain (Loss) on Marketable Securities Held in TrustTotal
Balance at December 31, 2022$(2,082.3)$(53.1)$6.7 $(23.5)(2,152.2)
Other comprehensive income (loss)152.0 31.1 1.8 30.6 215.5 
Tax (expense) or benefit2.1 (11.0)(0.4)(6.9)(16.2)
Other comprehensive income (loss), net of tax154.1 20.1 1.4 23.7 199.3 
Less: (Gain) Loss attributable to noncontrolling interest(2.0)— — — (2.0)
Balance at December 31, 2023$(1,930.2)$(33.0)$8.1 $0.2 $(1,954.9)
Other comprehensive income (loss)(478.6)16.8 (0.1)(19.6)(481.5)
Tax (expense) or benefit(17.0)(5.9)— 4.8 (18.1)
Other comprehensive income (loss), net of tax(495.6)10.9 (0.1)(14.8)(499.6)
Less: (Gain) Loss attributable to noncontrolling interest5.5 — — — 5.5 
Balance at December 31, 2024$(2,420.3)$(22.1)$8.0 $(14.6)$(2,449.0)
Other comprehensive income (loss)307.4 (4.6)(0.1)19.8 322.5 
Tax (expense) or benefit(0.3)1.9 — (4.5)(2.9)
Other comprehensive income (loss), net of tax307.1 (2.7)(0.1)15.3 319.6 
Less: (Gain) Loss attributable to noncontrolling interest(2.5)— — — (2.5)
Balance at December 31, 2025$(2,115.7)$(24.8)$7.9 $0.7 $(2,131.9)
v3.25.4
Share Repurchases
12 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Share Repurchases [Text Block] SHARE REPURCHASES
In 2022, our Board of Directors approved two share repurchase programs for a total of $3.0 billion. Our repurchase programs allow the Company to repurchase shares of our Common Stock through open market purchases, accelerated share repurchase arrangements, privately negotiated transactions or otherwise and have no set expiration date.
During the year ended December 31, 2025, we made no share repurchases. During the year ended December 31, 2024, we repurchased 7,944,507 shares of Common Stock in the open market for approximately $235.4 million, at an average purchase price per share of $29.63.
The extent to which we repurchase our shares and the timing of any such repurchases depend on a number of factors, including market and business conditions, the price of our shares, our ability to access capital resources, our liquidity and corporate, regulatory and other considerations.
v3.25.4
Share-based Payments
12 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Share-Based Payments SHARE-BASED PAYMENTS
The Mosaic Company 2023 Stock and Incentive Plan (the “2023 Stock and Incentive Plan”) was approved by our stockholders and became effective on May 25, 2023. It permits up to 18 million shares of common stock to be issued under share-based awards granted under this plan. The 2023 Stock and Incentive Plan provides for grants of stock options, restricted stock, restricted stock units, performance units and a variety of other share-based and non-share-based awards. Our employees, officers, directors, consultants, agents, advisors and independent contractors, as well as other designated individuals, are eligible to participate in the 2023 Stock and Incentive Plan.
The Mosaic Company 2014 Stock and Incentive Plan (the “2014 Stock and Incentive Plan”) was approved by our stockholders and became effective on May 15, 2014. It permits up to 25 million shares of common stock to be issued under share-based awards granted under this plan. The 2014 Stock and Incentive Plan provides for grants of stock options, restricted stock, restricted stock units, performance units and a variety of other share-based and non-share-based awards. Our employees, officers, directors, consultants, agents, advisors and independent contractors, as well as other designated individuals, are eligible to participate in the 2014 Stock and Incentive Plan.
Mosaic settles stock option exercises, restricted stock units and certain performance units and performance shares with newly issued common shares. The Compensation Committee of the Board of Directors administers these plans subject to their respective provisions and applicable law.
Stock Options
Stock options are granted with an exercise price equal to the market price of our stock at the date of grant and have a ten-year contractual term. The fair value of each option award is estimated on the date of the grant using the Black-Scholes option valuation model. Stock options generally vest in equal annual installments in the first three years following the date of grant (graded vesting). Stock options are expensed on a straight-line basis over the required service period, based on the estimated fair value of the award on the date of grant, net of estimated forfeitures.
Valuation Assumptions
Assumptions used to calculate the fair value of stock options awarded in 2017 are noted in the following table. Expected volatility is based on the simple average of implied and historical volatility using the daily closing prices of the Company’s stock for a period equal to the expected term of the option. The risk-free interest rate is based on the U.S. Treasury rate at the time of the grant for instruments of comparable life.
 Year Ended December 31, 2017
Weighted average assumptions used in option valuations:
Expected volatility35.35 %
Expected dividend yield1.97 %
Expected term (in years)7
Risk-free interest rate2.34 %
A summary of the status of our stock options as of December 31, 2025, and activity during 2025, is as follows:
Shares
(in millions)
Weighted
Average
Exercise
Price
Weighted Average Remaining Contractual Term (Years)Aggregate
Intrinsic
Value
Outstanding as of December 31, 20240.5 $32.68 
Granted— — 
Exercised(0.1)$28.49 
Cancelled or forfeited(0.1)$50.43 
Outstanding as of December 31, 20250.3 $29.80 0.85$— 
Exercisable as of December 31, 20250.3 $29.80 0.85$— 
There were no stock options granted or issued in 2024 or 2023.
Restricted Stock Units
Restricted stock units are issued to various employees, officers and directors at a value equal to the market price of our stock at the date of grant. The fair value of restricted stock units is equal to the market price of our stock at the date of grant. Restricted stock units generally cliff vest after three years of continuous service and are expensed on a straight-line basis over the required service period, based on the estimated grant date fair value, net of estimated forfeitures.
A summary of the status of our restricted stock units as of December 31, 2025, and activity during 2025, is as follows:
Shares
(in millions)
Weighted Average
Grant Date Fair
Value Per Share
Restricted stock units as of December 31, 20241.6 $41.61 
Granted1.0 23.87 
Issued and cancelled or forfeited(0.4)$49.48 
Restricted stock units as of December 31, 20252.2 $31.74 
Performance Units
During the years ended December 31, 2025, 2024 and 2023, 818,382, 496,367 and 1,206,263 total stockholder return (“TSR”) performance units were granted, respectively. Final performance units are awarded based on the increase or decrease, subject to certain limitations, in Mosaic’s share price from the grant date to the third anniversary of the award, plus dividends (a measure of total stockholder return or TSR). The beginning and ending stock prices are based on a 30 trading-day average stock price. Holders of the awards must be employed at the end of the performance period in order for any units to vest, except in the event of death, disability or retirement at or after age 60, certain changes in control or the exercise of Committee or Board discretion as provided in the related award agreements.
The fair value of each TSR performance unit is determined using a Monte Carlo simulation. This valuation methodology utilizes assumptions consistent with those of our other share-based awards and a range of ending stock prices; however, the expected term of the awards is three years, which impacts the assumptions used to calculate the fair value of performance units as shown in the table below. 193,384, 241,189 and 354,500 of the TSR performance awards issued in 2025, 2024 and 2023, respectively, are to be settled in cash, and are therefore accounted for as a liability with changes in value recorded through earnings during the service period. The remaining TSR performance units issued in 2025, 2024 and 2023 are considered equity-classified fixed awards measured at grant-date fair value and not subsequently re-measured. All of the TSR performance units cliff vest after three years of continuous service and are expensed on a straight-line basis over the required service period, based on the estimated grant date fair value of the award net of estimated forfeitures.
A summary of the assumptions used to estimate the fair value of TSR performance units is as follows:
Years Ended December 31,
202520242023
Performance units granted818,382 496,367 1,206,283 
Average fair value of performance units on grant date$21.3 $31.02 $50.56 
Weighted average assumptions used in performance unit valuations:
Expected volatility39.71 %40.95 %48.33 %
Expected dividend yield3.64 %2.59 %1.52 %
Expected term (in years)333
Risk-free interest rate3.90 %4.48 %4.52 %
A summary of our performance unit activity during 2025 is as follows:
Shares
(in millions)
Weighted Average
Grant Date Fair
Value Per Share
Outstanding as of December 31, 20241.1 $44.15 
Granted0.8 21.30 
Issued and cancelled or forfeited(0.2)$54.16 
Outstanding as of December 31, 20251.7 $31.26 
The outstanding performance units as of December 31, 2025 and 2024 include 593,968 and 463,410 cash-settled performance units, respectively.
Share-Based Compensation Expense
We recorded share-based compensation expense of $33.7 million, $20.2 million and $37.8 million for 2025, 2024 and 2023, respectively. The tax benefit related to share exercises and lapses in the year was $5.1 million, $1.0 million and $9.0 million for 2025, 2024 and 2023, respectively.
As of December 31, 2025, there was $1.5 million of total unrecognized compensation cost related to options, restricted stock units and performance units and shares granted under the 2014 Stock and Incentive Plan and the Omnibus Plan. The unrecognized compensation cost is expected to be recognized over a weighted-average period of one year.
There was $0.6 million in cash received from exercises of share-based payment arrangements for 2025. There was no cash received from exercises of share-based payment arrangements for 2024 and 2023. We incurred a tax benefit for tax deductions from options of $6.9 million, $4.1 million and $7.9 million in 2025, 2024 and 2023, respectively.
v3.25.4
Commitments
12 Months Ended
Dec. 31, 2025
Commitments and Contingencies Disclosure [Abstract]  
Commitments COMMITMENTS
We lease certain plants, warehouses, terminals, office facilities, railcars and various types of equipment under operating leases, some of which include rent payment escalation clauses, with lease terms ranging from one to 43 years. In addition to minimum lease payments, some of our office facility leases require payment of our proportionate share of real estate taxes and building operating expenses. Our future obligations under these leases are included in Note 4 of our Notes to Consolidated Financial Statements.
We also have purchase obligations to purchase goods and services, primarily for raw materials used in products sold to customers. We have long-term agreements for the purchase of sulfur, which is used in the production of phosphoric acid, and natural gas, which is a significant raw material used primarily in the solution mining process in our Potash segment as well as in our phosphate concentrates plants.
A schedule of future minimum long-term purchase commitments, based on expected market prices as of December 31, 2025 is as follows:
(in millions)Purchase
Commitments
2026$4,887.8 
20272,245.4 
2028769.5 
2029449.8 
2030234.6 
Subsequent years24.8 
$8,611.9 
Purchases made under long-term commitments were $2.7 billion in 2025, $2.1 billion in 2024 and $3.0 billion in 2023.
Most of our export sales of potash crop nutrients are marketed through a North American export association, Canpotex, which may fund its operations in part through third-party financing facilities. As a member, Mosaic or our subsidiaries are contractually obligated to reimburse Canpotex for their pro rata share of any operating expenses or other liabilities incurred. The reimbursements are made through reductions to members’ cash receipts from Canpotex.
We incur liabilities for reclamation activities and Gypstack closures in our Florida and Louisiana operations where, in order to obtain necessary permits, we must either pass a test of financial strength or provide credit support, typically in the form of cash deposits, surety bonds or letters of credit. The surety bonds generally expire within one year or less but a substantial portion of these instruments provide financial assurance for continuing obligations and therefore, in most cases, must be renewed on an annual basis. As of December 31, 2025 we had $829.9 million in surety bonds outstanding, of which $428.2 million is for reclamation obligations primarily related to mining in Florida. In addition, included in the total amount is $337.6 million, reflecting our updated closure cost estimates, delivered to the EPA as a substitute for the financial assurance provided through the Plant City Trust. The remaining balance in surety bonds outstanding of $64.1 million is for other matters.
v3.25.4
Contingencies
12 Months Ended
Dec. 31, 2025
Commitments and Contingencies Disclosure [Abstract]  
Contingencies CONTINGENCIES
We have described below the material judicial and administrative proceedings to which we are subject.
Environmental Matters
We have contingent environmental liabilities that arise principally from three sources: (i) facilities currently or formerly owned by our subsidiaries or their predecessors; (ii) facilities adjacent to currently or formerly owned facilities; and (iii) third-party Superfund or state equivalent sites. At facilities currently or formerly owned by our subsidiaries or their predecessors, the historical use and handling of regulated chemical substances, crop and animal nutrients and additives and by-product or process tailings have resulted in soil, surface water or groundwater impacts. Spills or other releases of regulated substances, subsidence at our facilities and other incidents arising out of operations, including accidents, have occurred previously at these facilities, and potentially could occur in the future, possibly requiring us to undertake or fund cleanup or result in monetary damage awards, fines, penalties, other liabilities, injunctions or other court or administrative rulings. In some instances, pursuant to consent orders or agreements with governmental agencies, we are undertaking certain remedial actions or investigations to determine whether remedial action may be required to address contamination. At other locations, we have entered into consent orders or agreements with appropriate governmental agencies to perform required remedial activities that will address identified site conditions. Taking into consideration established reserves of approximately $192.2 million and $197.5 million as of December 31, 2025 and 2024, respectively, of which $87.9 million and $90.8 million are included in Accrued Liabilities and $104.3 million and $106.7 million in Other Non Current Liabilities in the Consolidated Balance Sheets as of December 31, 2025 and 2024, respectively, expenditures for these known conditions currently are not expected, individually or in the aggregate, to have a material effect on our business or financial condition. However, material expenditures could be required in the future to remediate the impacts at known sites or at other current or former sites or as a result of other environmental, health and safety matters. Below is a discussion of the more significant environmental matters.
New Wales Phase II East Stack. In April 2022 we confirmed the presence of a cavity in and liner tear beneath the southern part of the active phosphogypsum stack at the Company’s New Wales facility in Florida. This resulted in process water
draining beneath the stack. The circumstances were reported to the FDEP and EPA. Phase I of the repairs, consisting of stabilizing the cavity by depositing low pressure grout into it, began in July 2022 and now is complete. Phase II work, which consists of injecting high pressure grout beneath the stack to restore the geological confining layer beneath it, began in early in 2023 and the work is now complete.
As of December 31, 2025 we have a reserve of $3.4 million, for estimated water management and other costs associated with this event. We are unable to estimate at this time potential future additional financial impacts or a range of loss, if any.
New Wales Phase II West Stack. In October 2023, we observed a series of seismic acoustic emissions and changes to piezometric water levels in a part of the Phase II West phosphogypsum stack at the New Wales, Florida facility. These observations may be an indication of a breach in the stack liner system and were reported to the FDEP and EPA. We have begun repairs; stabilization grouting is complete and high-pressure grouting, which began in October 2024, is expected to conclude in the first half of 2026. The area of the stack is not in use for either process water storage or additional gypsum placement. It lies within a zone of capture of a recovery groundwater well, which is operating as intended. No offsite impacts are known or expected.
As of December 31, 2025 we have a reserve of $65.1 million, for estimated repairs. We are unable to estimate at this time potential future additional financial impacts or a range of loss.
EPA RCRA Initiative. We have certain financial assurance and other obligations under consent decrees and a separate financial assurance arrangement relating to our facilities in Florida and Louisiana. These obligations are discussed in Note 14 of our Notes to Consolidated Financial Statements in this Form 10-K.
Other Environmental Matters. Superfund and equivalent state statutes impose liability without regard to fault or to the legality of a party’s conduct on certain categories of persons who are considered to have contributed to the release of “hazardous substances” into the environment. Under Superfund, or its various state analogues, one party may, under certain circumstances, be required to bear more than its proportionate share of cleanup costs at a site where it has liability if payments cannot be obtained from other responsible parties. Currently, certain of our subsidiaries are involved or concluding involvement at several Superfund or equivalent state sites. Our remedial liability from these sites, alone or in the aggregate, currently is not expected to have a material effect on our business or financial condition. As more information is obtained regarding these sites and the potentially responsible parties involved, this expectation could change.
We believe that, pursuant to several indemnification agreements, our subsidiaries are entitled to at least partial, and in many instances complete, indemnification for the costs that may be expended by us or our subsidiaries to remedy environmental issues at certain facilities. These agreements address issues that resulted from activities occurring prior to our acquisition of facilities or businesses from parties including, but not limited to: ARCO (BP); Beatrice Fund for Environmental Liabilities; Conoco; Conserv; Estech, Inc.; Kaiser Aluminum & Chemical Corporation; Kerr-McGee Inc.; PPG Industries, Inc.; The Williams Companies; CF; and certain other private parties. Our subsidiaries have already received and anticipate receiving amounts pursuant to the indemnification agreements for certain of their expenses incurred to date as well as future anticipated expenditures. We record potential indemnifications as an offset to the established accruals when they are realizable or realized. The failure of an indemnitor to fulfill its obligations could result in future costs that could be material.
Brazil Legal Contingencies
Our Brazilian subsidiaries are engaged in a number of judicial and administrative proceedings regarding labor, environmental, mining and civil claims that allege aggregate damages or fines of approximately $531.8 million. We estimate that our probable aggregate loss with respect to these claims is approximately $69.4 million, which is included in our accrued liabilities in our Consolidated Balance Sheets at December 31, 2025. Approximately $387.6 million of the maximum potential loss above relates to labor claims, of which approximately $50.3 million is included in accrued liabilities in our Consolidated Balance Sheets at December 31, 2025.
Based on Brazil legislation and the current status of similar labor cases involving unrelated companies, we believe we have recorded adequate loss contingency reserves sufficient to cover our estimate of probable losses. If the status of similar cases involving unrelated companies were to adversely change in the future, our maximum exposure could increase and additional accruals could be required.
Brazil Tax Contingencies
Our Brazilian subsidiaries are engaged in a number of judicial and administrative proceedings relating to various non-income tax matters. We estimate that our maximum potential liability with respect to these matters is approximately $751.9 million, of which $200.1 million is subject to an indemnification agreement entered into with Vale S.A in connection with the acquisition of certain mining assets and facilities.
Approximately $431.4 million of the maximum potential liability relates to a Brazilian federal value added tax, PIS and COFINS, and tax credit cases, while the majority of the remaining amount relates to various other non-income tax cases. The maximum potential liability can increase with new audits from Brazilian tax authorities. Based on Brazil tax legislation and the current status of similar tax cases involving unrelated taxpayers, we believe we have recorded adequate loss contingency reserves sufficient to cover our estimate of probable losses, which are immaterial. If the status of similar tax cases involving unrelated taxpayer changes in the future, additional accruals could be required.
Other Claims
We also have certain other contingent liabilities with respect to judicial, administrative and arbitration proceedings and claims of third parties, including tax matters, arising in the ordinary course of business. We do not believe that any of these contingent liabilities will have a material adverse impact on our business or financial condition, results of operations, and cash flows.
v3.25.4
Related Party
12 Months Ended
Dec. 31, 2025
Related Party Transactions [Abstract]  
Related Party Transactions Disclosure [Text Block] RELATED PARTY TRANSACTIONS
We enter into transactions and agreements with certain of our non-consolidated companies and other related parties from time to time. As of December 31, 2025, we had amounts included in Accounts Receivable and Accounts Payable on our Consolidated Balances due from our non-consolidated companies of which the net amount totaled $10.0 million. As of December 31, 2024, the net amount due to our non-consolidated companies totaled $46.5 million.
The Consolidated Statements of Earnings included the following transactions with our non-consolidated companies:
 Years Ended December 31,
(in millions)202520242023
Transactions with non-consolidated companies included in net sales$1,274.9 $931.0 $1,321.0 
Transactions with non-consolidated companies included in cost of goods sold$1,015.6 $1,082.7 $1,465.2 
______________________________
(a) Amounts included in net sales primarily relate to sales from our Potash segment to Canpotex.
(b) Amounts included in cost of goods sold primarily relate to purchases from Canpotex by our Mosaic Fertilizantes segment and India and China distribution businesses. Prior year amounts also includes purchases from MWSPC.
v3.25.4
Business Segments
12 Months Ended
Dec. 31, 2025
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. Our chief operating decision maker is our chief executive officer.
For a description of our business segments, see Note 1 of our Notes to Consolidated Financial Statements. The accounting policies of the segments are the same as those described in the summary of significant accounting policies. We evaluate performance based on the gross margin and 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 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.
For the Phosphate, Potash and Mosaic Fertilizantes segments, the chief operating decision maker uses both segment gross margin and operating earnings to allocate resources to each segment, predominantly in the annual budget and forecasting process. The chief operating decision maker considers forecast-to-actual variances on a monthly basis for both profit measures when making decisions about allocating capital and personnel to the segments. The chief operating decision maker
also uses segment gross margin for evaluating product pricing and segment profit or loss from operations to assess the performance for each segment by comparing the results and return on assets of each segment with one another.
Segment information for the years 2025, 2024 and 2023 is as follows:
(in millions)PhosphatePotashMosaic Fertilizantes
Corporate,
Eliminations
and Other (a)
Total
Year Ended December 31, 2025
Net sales to external customers$3,877.8 $2,658.7 $4,847.3 $668.6 $12,052.4 
Intersegment net sales698.7 3.0 — (701.7)— 
Net sales4,576.5 2,661.7 4,847.3 (33.1)12,052.4 
Cost of goods sold(b)
4,139.2 1,791.7 4,355.3 (135.7)10,150.5 
Gross margin437.3 870.0 492.0 102.6 1,901.9 
Canadian resource taxes— 272.8 — — 272.8 
Gross margin (excluding Canadian resource taxes)437.3 1,142.8 492.0 102.6 2,174.7 
Selling, general and administrative(c)
45.8 30.1 147.9 310.1 533.9 
Loss (gain) on assets sold and to be sold— 185.0 (27.7)— 157.3 
Impairment of goodwill— 3.6 96.3 — 99.9 
Other operating expenses(d)
256.0 13.6 (1.4)21.1 289.3 
Operating earnings 135.4 637.7 277.0 (228.6)821.5 
Capital expenditures848.9 243.5 260.5 6.5 1,359.4 
Depreciation, depletion and amortization expense500.7 336.5 174.2 38.5 1,049.9 
Equity in net earnings of nonconsolidated companies— — — 2.3 2.3 
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 sales725.5 17.7 — (743.2)— 
Net sales4,518.8 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 margin594.0 643.2 406.6 (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 earnings225.1 604.5 237.6 (445.7)621.5 
Gain on sale of equity method investment522.2 — — — 522.2 
Capital expenditures660.7 297.5 242.8 50.8 1,251.8 
Depreciation, depletion and amortization expense505.6 336.5 159.3 24.1 1,025.5 
Equity in net earnings of nonconsolidated companies70.9 — — 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 sales829.8 30.5 — (860.3)— 
Net sales4,724.3 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 margin702.1 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 
Loss (gain) on assets sold and to be sold— — — (56.5)(56.5)
Other operating expenses(d)
284.3 33.5 27.0 83.7 428.5 
Operating earnings375.7 1,151.5 74.5 (263.6)1,338.1 
Capital expenditures625.9 357.4 336.3 82.8 1,402.4 
Depreciation, depletion and amortization expense485.7 299.0 165.5 10.4 960.6 
Equity in net earnings of nonconsolidated companies56.4 — — 3.9 60.3 
Total assets as of December 31, 2025$10,239.0 $6,610.6 $4,618.5 $3,012.0 $24,480.1 
Total assets as of December 31, 2024(e)
9,419.5 6,480.6 4,372.0 2,651.9 22,924.0 
Total assets as of December 31, 2023(e)
9,494.9 6,914.7 5,205.7 1,417.5 23,032.8 
______________________________
(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, 2025, 2024 and 2023, distribution operations in India and China had revenues of $640.0 million, $519.6 million and $898.9 million, respectively, and gross margins of $88.0 million, $39.7 million and $(16.8) 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.
(e)In 2025, the information about segment assets regularly provided to and reviewed by our CODM was revised to no longer include intercompany assets and segment cash, and to include an allocation of certain fixed assets from Corprate to the Phosphate and Potash segments. As a result, the December 31, 2024 and 2023 balances have been recast to reflect these changes.
Financial information relating to our operations by geographic area is as follows:
Years Ended December 31,
(in millions)202520242023
Net sales(a):
Brazil$4,678.5 $4,296.2 $5,480.9 
Canpotex(b)
1,247.8 884.3 1,275.7 
China551.3 536.9 556.1 
Canada387.6 520.1 411.6 
Paraguay148.0 178.5 222.8 
Argentina133.4 141.8 75.2 
Japan122.5 130.8 157.7 
Colombia89.1 118.7 103.2 
India70.9 72.8 350.8 
Australia65.6 57.9 69.0 
Peru62.1 49.2 77.5 
Mexico29.0 42.2 125.5 
Honduras32.4 25.7 30.0 
Dominican Republic22.3 14.7 16.7 
Other89.0 82.3 64.3 
Total international countries7,729.5 7,152.1 9,017.0 
United States4,322.9 3,970.7 4,679.1 
Consolidated$12,052.4 $11,122.8 $13,696.1 
______________________________
(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.
December 31,
(in millions)20252024
Long-lived assets:
Canada$5,837.8 $5,390.5 
Brazil2,372.9 2,012.8 
Other630.5 545.8 
Total international countries8,841.2 7,949.1 
United States8,584.7 8,457.2 
Consolidated$17,425.9 $16,406.3 
Excluded from the table above as of December 31, 2025 and 2024, are goodwill of $1,005.1 million and $1,061.1 million and deferred income tax assets of $811.6 million and $958.3 million, respectively.
Net sales by product type for the years 2025, 2024 and 2023 are as follows:
Years Ended December 31,
(in millions)202520242023
Sales by product type:
Phosphate Crop Nutrients$3,273.4 $2,978.7 $3,277.5 
Potash Crop Nutrients2,920.4 2,808.6 4,107.7 
Crop Nutrient Blends1,380.6 1,253.4 2,107.4 
Performance Products(a)
2,635.1 2,264.2 2,453.3 
Phosphate Rock132.1 217.2 125.9 
Other(b)
1,710.8 1,600.7 1,624.3 
$12,052.4 $11,122.8 $13,696.1 
______________________________
(a)Includes sales of MicroEssentials®, K-Mag® and Aspire®.
(b)Includes sales of industrial potash, feed products, nitrogen and other products.
v3.25.4
Assets Sold and Held for Sale
12 Months Ended
Dec. 31, 2025
Property, Plant and Equipment Assets Held-for-Sale Disclosure [Abstract]  
Assets Sold and Held for Sale Assets Sold and Held for Sale
On October 3, 2025, we completed the sale of our idled Patos de Minas phosphate mining unit in Brazil. Under terms of the agreement, we expect to receive a total of $111 million, with $51 million received at closing and the balance of the purchase price to be paid in installments over the next four years. We recorded a gain of approximately $94 million at closing
On November 3, 2025, we completed the sale of our interest in the Taquari potash mine in Brazil for proceeds of up to $27 million with $12 million received at closing and an additional $10 million due in one year. The remaining $5 million is contingent upon future potash pricing benchmarks. We recorded a loss of approximately $66 million related to the transaction.
On December 19, 2025, we entered into an agreement to sell our Carlsbad potash mine in New Mexico for $20.0 million, subject to adjustment, along with a deferred payment of $10.0 million payable in three installments from 2029 to 2031. Consequently, Carlsbad was reclassified as held for sale, and an impairment loss of approximately $185.0 million was recorded as of December 31, 2025. The fair value of Carlsbad was determined based on the terms of the sale, working capital adjustments and discounted deferred payments, and is classified as Level 3 within the fair value hierarchy due to reliance on unobservable inputs. Any subsequent changes to net assets or significant assumptions may result in further adjustments to the recognized impairment prior to closing. The transaction is expected to close in the first half of 2026, subject to customary closing conditions.
The carrying amounts of the major classes of assets and liabilities of the Carlsbad disposal group classified as held for sale as of December 31, 2025 are as follows:
(in millions)
Assets
Accounts receivable, net$15.7 
Inventories, net44.5 
Other assets14.2 
Property, plant and equipment, net184.1 
Valuation allowance on assets held for sale(185.0)
Current assets held for sale$73.5 
Liabilities
Accounts payable and accrued expenses$14.3 
Deferred tax liability20.2 
Asset retirement obligations 20.8 
Current liabilities held for sale$55.3 
v3.25.4
Insider Trading Arrangements
3 Months Ended
Dec. 31, 2025
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.25.4
Cybersecurity Risk Management and Strategy Disclosure
12 Months Ended
Dec. 31, 2025
Cybersecurity Risk Management, Strategy, and Governance [Line Items]  
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]
Risk Management and Strategy
As a global company, we utilize and rely upon information technology systems in many aspects of our business, including internal and external communications and the management of our accounting, financial, production and supply chain functions. As we become more dependent on information technologies to conduct our operations, and as the number of cyberattacks increase and their sophistication evolves, the risks associated with cybersecurity also increase and evolve. Failure to effectively anticipate, prevent, detect and recover from the increasing number and sophistication of cyberattacks could have a material adverse effect on our results of operations or financial condition. To our knowledge, we have not experienced any material cybersecurity incidents of our technology systems.
Mosaic’s cybersecurity program is comprised of people, processes and technology that are designed to adequately protect the confidentiality, integrity and availability of information technology systems and data. Mosaic has strategically integrated cybersecurity risk management into our broader risk management framework to promote a company-wide culture of cybersecurity risk awareness. This integration ensures that cybersecurity considerations are an integral part of our decision-making processes at every level. We have a Governance Risk and Compliance team which is a dedicated team within the cybersecurity department that focuses on identifying and mitigating cybersecurity and compliance risk. The team works closely with the Operations Technology and Information Technology department to continuously evaluate and address cybersecurity risks in alignment with our business objectives and operational needs. As part of our third-party risk management program, we review risk ratings and control assessments of pertinent vendors and other third-parties. Our Enterprise Risk Management committee, which is comprised of members of our executive leadership team, reviews and evaluates key risks identified through cybersecurity risk management processes. Mosaic develops and continues to refine mitigation plans that adhere to industry best practices.
Regularly, Mosaic regularly engages external vendors to provide independent insight to overall cybersecurity program effectiveness and to assist with evaluating response preparedness.
Cybersecurity Risk Management Processes Integrated [Flag] true
Cybersecurity Risk Management Processes Integrated [Text Block]
Mosaic’s cybersecurity program is comprised of people, processes and technology that are designed to adequately protect the confidentiality, integrity and availability of information technology systems and data. Mosaic has strategically integrated cybersecurity risk management into our broader risk management framework to promote a company-wide culture of cybersecurity risk awareness. This integration ensures that cybersecurity considerations are an integral part of our decision-making processes at every level. We have a Governance Risk and Compliance team which is a dedicated team within the cybersecurity department that focuses on identifying and mitigating cybersecurity and compliance risk. The team works closely with the Operations Technology and Information Technology department to continuously evaluate and address cybersecurity risks in alignment with our business objectives and operational needs. As part of our third-party risk management program, we review risk ratings and control assessments of pertinent vendors and other third-parties. Our Enterprise Risk Management committee, which is comprised of members of our executive leadership team, reviews and evaluates key risks identified through cybersecurity risk management processes. Mosaic develops and continues to refine mitigation plans that adhere to industry best practices.
Regularly, Mosaic regularly engages external vendors to provide independent insight to overall cybersecurity program effectiveness and to assist with evaluating response preparedness.
Cybersecurity Risk Management Third Party Engaged [Flag] true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag] true
Cybersecurity Risk Board of Directors Oversight [Text Block]
Governance
Board of Director Oversight
The Board of Directors oversees Mosaic’s Enterprise Risk Management program, and the Audit Committee is tasked with oversight of risk from cybersecurity threats. The Board receives an annual cybersecurity update while the Audit Committee regularly receives reports from the Chief Information Security Officer (CISO”) and Chief Information Officer (CIO”). The reports to the Audit Committee include updates on key performance indicators and key risk indicators, including short-term, intermediate-term and emerging risks. The Audit Committee then briefs the Board on these matters. Ad hoc updates occur as needed.
Managements Role in Managing Risk
The Information Technology organization is led by the CIO who is responsible for cybersecurity and risk management, with oversight by the Audit Committee. The cybersecurity program is overseen by the Mosaic’s CISO and supporting cybersecurity leadership, who lead teams to protect and preserve the confidentiality, integrity and continued availability of all information owned by, or in the care of, Mosaic. The CISO, along with the leadership team, possess many years of relevant information technology, cybersecurity and risk management experience in the manufacturing, electric, defense, financial and
retail sectors. Educational backgrounds include advanced degrees and certifications, such as Certified Information Systems Security Professional. During the course of leadership team’s careers, they have built and sustained programs protecting other Fortune 500 companies, critical national infrastructure and military defense systems.
The CIO and CISO regularly update the Board and/or the Audit Committee on cybersecurity matters and the effectiveness of the cybersecurity program. The Board and Audit Committee also engage directly with senior leaders from the Information Technology department.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block] The Board of Directors oversees Mosaic’s Enterprise Risk Management program, and the Audit Committee is tasked with oversight of risk from cybersecurity threats. The Board receives an annual cybersecurity update while the Audit Committee regularly receives reports from the Chief Information Security Officer (CISO”) and Chief Information Officer (CIO”). The reports to the Audit Committee include updates on key performance indicators and key risk indicators, including short-term, intermediate-term and emerging risks. The Audit Committee then briefs the Board on these matters. Ad hoc updates occur as needed
Cybersecurity Risk Role of Management [Text Block]
The Information Technology organization is led by the CIO who is responsible for cybersecurity and risk management, with oversight by the Audit Committee. The cybersecurity program is overseen by the Mosaic’s CISO and supporting cybersecurity leadership, who lead teams to protect and preserve the confidentiality, integrity and continued availability of all information owned by, or in the care of, Mosaic. The CISO, along with the leadership team, possess many years of relevant information technology, cybersecurity and risk management experience in the manufacturing, electric, defense, financial and
retail sectors. Educational backgrounds include advanced degrees and certifications, such as Certified Information Systems Security Professional. During the course of leadership team’s careers, they have built and sustained programs protecting other Fortune 500 companies, critical national infrastructure and military defense systems.
Cybersecurity Risk Management Positions or Committees Responsible [Flag] true
Cybersecurity Risk Management Expertise of Management Responsible [Text Block] The CISO, along with the leadership team, possess many years of relevant information technology, cybersecurity and risk management experience in the manufacturing, electric, defense, financial and retail sectors. Educational backgrounds include advanced degrees and certifications, such as Certified Information Systems Security Professional.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]
The CIO and CISO regularly update the Board and/or the Audit Committee on cybersecurity matters and the effectiveness of the cybersecurity program. The Board and Audit Committee also engage directly with senior leaders from the Information Technology department.
v3.25.4
Significant Accounting Policies
12 Months Ended
Dec. 31, 2025
Accounting Policies [Abstract]  
Statement of Presentation and Basis of Consolidation
Statement Presentation and Basis of Consolidation
The accompanying Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). Throughout the Notes to Consolidated Financial Statements, amounts in tables are in millions of dollars except for per share data and as otherwise designated.
The accompanying Consolidated Financial Statements include the accounts of Mosaic and its majority-owned subsidiaries. Certain investments in companies in which we do not have control but have the ability to exercise significant influence are accounted for by the equity method. All significant intercompany balances and transactions have been eliminated in consolidation.
Accounting Estimates
Accounting Estimates
Preparation of the Consolidated Financial Statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of net sales and expenses during the reporting periods. The most significant estimates made by management relate to the recoverability of non-current assets including goodwill, the useful lives and net realizable values of long-lived assets, environmental and reclamation liabilities, including asset retirement
obligations (“ARO”), and income tax-related accounts, including the valuation allowance against deferred income tax assets. Actual results could differ from these estimates
Revenue Recognition
Revenue Recognition
We generate revenues primarily by producing and marketing phosphate and potash crop nutrients. Revenue is recognized when control of the product is transferred to the customer, which is generally upon transfer of title to the customer based on the contractual terms of each arrangement. Title is typically transferred to the customer upon shipment of the product. In certain circumstances, which are referred to as final price deferred arrangements, we ship product prior to the establishment of a valid sales contract. In such cases, we retain control of the product and do not recognize revenue until a sales contract has been agreed to with the customer.
Revenue is measured as the amount of consideration we expect to receive in exchange for the transfer of our goods. Our products are generally sold based on market prices prevailing at the time the sales contract is signed or through contracts which are priced at the time of shipment, except for the final priced deferred arrangements discussed above. Sales incentives are volumetric based annual programs and recorded as a reduction of revenue at the time of sale. We estimate the variable consideration related to our sales incentive programs based on the sales terms with customers and historical experience. Historically, sales incentives have represented 1% or less of total revenue and there have not been significant adjustments to such estimates in the financial statements.
We sell Canadian-sourced potash outside Canada and the U.S. exclusively through Canpotex distribution. Canpotex sells potash to buyers in export markets pursuant to term and spot contracts at agreed upon prices. For sales through this channel, our revenue is recognized at the amount received from Canpotex representing proceeds from their sale of potash, less net costs of Canpotex. Sales are recognized when control is transferred to Canpotex, typically upon shipment of the product to Canpotex, and adjusted at the end of each reporting period based upon the updated estimated pricing or final pricing from Canpotex. Prior to final pricing, revenue is recognized only to the extent that it is probable a significant reversal of revenue will not occur. The constraint is estimated each period based on historical experience, market trends and industry data. The estimated constraint is not material to the Company’s financial statements.
Due to our membership in Canpotex, we eliminate the intra-entity profit with Canpotex at the end of each reporting period and present that profit elimination by reversing revenue and cost of goods sold for the inventory remaining at Canpotex. For more information regarding our relationship with Canpotex and accounting considerations, see Note 9 of our Notes to Consolidated Financial Statements. For information regarding sales by product type and by geographic area, see Note 25 of our Notes to Consolidated Financial Statements.
The timing of recognition of revenue related to our performance obligations may be different than the timing of collection of cash related to those performance obligations. Payment terms vary by contract. Specifically, we collect prepayments from certain customers in Brazil. In addition, cash collection from Canpotex may occur prior to delivery of product to the end customer. We generally satisfy our contractual liabilities within one quarter of incurring the liability. To the extent prepayments are not collected from customers, payment terms are established based on the type of product, distributor capabilities and competitive market conditions, and do not exceed one year.
Other key revenue recognition accounting policies include:
Trade accounts receivable are recorded at the invoiced amount. Taxes collected from customers relating to product sales and remitted to governmental authorities are excluded from revenue.
We generally expense sales commissions when incurred because the amortization period would have been one year or less. These costs are recorded within sales and marketing expenses.
We have elected to recognize the cost for freight and shipping as an expense in cost of sales, when control over the product has passed to the customer.
Non-Income Taxes
Non-Income Taxes
We pay Canadian resource taxes consisting of the Potash Production Tax and resource surcharge. The Potash Production Tax is a Saskatchewan provincial tax on potash production and consists of a base payment and a profits tax. In addition to the Canadian resource taxes, royalties are payable to the mineral owners with respect to potash reserves or production of potash. These resource taxes and royalties are recorded in our cost of goods sold. Our Canadian resource tax and royalty expenses were $315.6 million, $272.7 million and $457.0 million during 2025, 2024 and 2023, respectively.
We have approximately $60.8 million of assets recorded as of December 31, 2025 related to PIS and Cofins, which is a Brazilian federal value-added tax. This amount was mostly earned in 2008 through 2022; we believe that it will be realized through offsetting income tax payments or other federal taxes or receiving cash refunds. As of December 31, 2024 we had approximately $96.2 million of assets recorded for these matters. Should the Brazilian government determine that these are not valid credits upon audit, this could impact our results in such period. We have recorded the PIS and Cofins credits at amounts which we believe are probable of collection. Information regarding PIS and Cofins taxes already audited is included in Note 23 of our Notes to Consolidated Financial Statements.
Foreign Currency Translation
Foreign Currency Translation
The Company’s reporting currency is the U.S. dollar; however, for operations located in Canada and Brazil, the functional currency is the local currency. Assets and liabilities of these foreign operations are translated to U.S. dollars at exchange rates in effect at the balance sheet date, while income statement accounts and cash flows are translated to U.S. dollars at the average exchange rates for the period. For these operations, translation gains and losses are recorded as a component of accumulated other comprehensive income in equity until the foreign entity is sold or liquidated. Transaction gains and losses result from transactions that are denominated in a currency other than the functional currency of the operation, primarily accounts receivable and intercompany loans in our Canadian entities denominated in U.S. dollars, intercompany loans receivable in our U.S. entities denominated in Brazilian real, and accounts payable in Brazil denominated in U.S. dollars. These foreign currency transaction gains and losses are presented separately in the Consolidated Statement of Earnings.
Cash and Cash Equivalents
Cash and Cash Equivalents
Cash and cash equivalents include short-term, highly liquid investments with original maturities of 90 days or less and other highly liquid investments that are payable on demand such as money market accounts, certain certificates of deposit and repurchase agreements. The carrying amount of such cash equivalents approximates their fair value due to the short-term and highly liquid nature of these instruments.
Concentration Risk, Credit Risk, Policy
Concentration of Credit Risk
In the U.S., we sell our products to manufacturers, distributors and retailers primarily in the Midwest and Southeast. We generally sell our principal products to a large number of customers. At December 31, 2025 and 2024, one customer accounted for approximately 12% and 11%, respectively, of our trade accounts receivable. We continually monitor the creditworthiness of our customers and general economic conditions to manage our credit risk exposure. As such, we do not believe there is any significant collection risk.
Internationally, our potash products are sold primarily through Canpotex, an export association. A concentration of credit risk arises from our sales and accounts receivable associated with the international sales of potash product through Canpotex. We consider our concentration risk related to the Canpotex receivable to be mitigated by their credit policy, which requires the underlying receivables to be substantially insured or secured by letters of credit. As of December 31, 2025 and 2024, there were $73.0 million and $65.1 million, respectively, of trade accounts receivable due from Canpotex. During 2025, 2024 and 2023, sales to Canpotex were $1.2 billion, $884.3 million and $1.3 billion, respectively.
Inventories
Inventories
Inventories of raw materials, work-in-process products, finished goods and operating materials and supplies are stated at the lower of cost or net realizable value. Costs for substantially all inventories are determined using the weighted average cost basis. To determine the cost of inventory, we allocate fixed expense to the costs of production based on the normal capacity, which refers to a range of production levels and is considered the production expected to be achieved over a number of periods or seasons under normal circumstances, taking into account the loss of capacity resulting from planned maintenance. Fixed overhead costs allocated to each unit of production should not increase due to abnormally low production. Those excess costs are recognized as a current period expense. When a production facility is completely shut down temporarily, it is considered “idle”, and all related expenses are charged to cost of goods sold.
Net realizable value of our inventory is defined as forecasted selling prices less reasonably predictable selling costs. Significant management judgment is involved in estimating forecasted selling prices including various demand and supply variables. Examples of demand variables include grain and oilseed prices, stock-to-use ratios and changes in inventories in the crop nutrients distribution channels. Examples of supply variables include forecasted prices of raw materials, such as phosphate rock, sulfur, ammonia and natural gas, estimated operating rates and industry crop nutrient inventory levels. Results could differ materially if actual selling prices differ materially from forecasted selling prices. Charges for lower of
cost or market are recognized in our Consolidated Statements of Earnings in the period when there is evidence of a decline of market value below cost.
Property, Plant and Equipment and Recoverability of Long-Lived Assets
Property, Plant and Equipment and Recoverability of Long-Lived Assets
Property, plant and equipment are stated at cost. Costs of significant assets include capitalized interest incurred during the construction and development period. Repairs and maintenance, including planned major maintenance and plant turnaround costs, are expensed when incurred.
Currently, we do not have any material exploration or development stage mining projects. When we transition to new mining areas within our current properties, we incur minimal pre-mining costs related to the permitting process and land preparation activities, such as water management control and construction of roads and access points. These costs are capitalized as part of our mineral properties and rights. Mineral properties and rights at our operations include mineral reserves and mineral resources. Mineral resources have not yet been scheduled in formal mine plans and therefore are not subject to depletion. Depletion expenses for mining operations, including mineral reserves, are generally determined using the units-of-production method based on estimates of proven and probable reserves. Depreciation is computed principally using the straight-line method and units-of-production method over the following useful lives: machinery and equipment: three to 25 years; and buildings and leasehold improvements: three to 40 years.
We estimate initial useful lives based on experience and current technology. These estimates may be extended through sustaining capital programs. Factors affecting the fair value of our assets or periods of expected use may also affect the estimated useful lives of our assets and these factors can change. Therefore, we periodically review the estimated remaining lives of our facilities and other significant assets and adjust our depreciation rates prospectively where appropriate.
Long-lived assets, including fixed assets and right-of-use assets, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. An impairment assessment involves management judgment and estimates of factors such as industry and market conditions, the economic life of the asset, sales volume and prices, inflation, raw materials costs, cost of capital, tax rates and capital spending. The carrying amount of a long-lived asset group is not recoverable if it exceeds the sum of the undiscounted cash flows expected to result from the use and eventual disposition of the asset group. If it is determined that an impairment loss has occurred, the loss is measured as the amount by which the carrying amount of the long-lived asset group exceeds its fair value.
Lease, Policy
Leases
Right of use (“ROU”) assets represent our right to use an underlying asset for the lease term. Lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at the commencement date of the lease, based on the present value of lease payments over the lease term. As most of our leases do not provide an implicit rate, we use our incremental borrowing rate based on the information available at the commencement date in determining the present value of lease payments. The Company’s incremental borrowing rate for a lease is the rate of interest it would have to pay on a collateralized basis to borrow an amount equal to the lease payments under similar terms. For both operating and finance leases, the initial ROU asset equals the lease liability, plus initial direct costs, less lease incentives received. Our lease agreements may include options to extend or terminate the lease, which are included in the lease term at the commencement date when it is reasonably certain that we will exercise that option. In general, we do not consider optional periods included in our lease agreements as reasonably certain of exercise at inception.
At inception, we determine whether an arrangement is a lease and the appropriate lease classification. Operating leases with terms greater than twelve months are included as operating lease ROU assets within other assets and the associated lease liabilities within accrued liabilities and other noncurrent liabilities on our consolidated balance sheets. Finance leases with terms greater than twelve months are included as finance ROU assets within property and equipment and the associated finance lease liabilities within current maturities of long-term debt and long-term debt on our consolidated balance sheets.
Leases with terms of less than twelve months, referred to as short-term leases, do not create a ROU asset or lease liability on the balance sheet.
We have lease agreements with lease and non-lease components, which are generally accounted for separately. For full-service railcar leases, we account for the lease and non-lease components as a single lease component. Additionally, for certain equipment leases, we apply assumptions using a portfolio approach, given the generally consistent terms of the agreements. Lease payments based on usage (for example, per-mile or per-hour charges), referred to as variable lease costs, are recorded separately from the determination of the ROU asset and lease liability.
Contingencies
Contingencies
Accruals for environmental remediation efforts are recorded when costs are probable and can be reasonably estimated. In determining these accruals, we use the most current information available, including similar past experiences, available technology, consultant evaluations, regulations in effect, the timing of remediation and cost-sharing arrangements. Adjustments to accruals, recorded as needed in our Consolidated Statement of Earnings each quarter, are made to reflect changes in and current status of these factors.
We are involved from time to time in claims and legal actions incidental to our operations, both as plaintiff and defendant. We have established what we currently believe to be adequate accruals for pending legal matters. These accruals are established as part of an ongoing worldwide assessment of claims and legal actions that takes into consideration such items as advice of legal counsel, individual developments in court proceedings, changes in the law, changes in business focus, changes in the litigation environment, changes in opponent strategy and tactics, new developments as a result of ongoing discovery and our experience in defending and settling similar claims. The litigation accruals at any time reflect updated assessments of the then-existing claims and legal actions. The final outcome or potential settlement of litigation matters could differ materially from the accruals which we have established. Legal costs are expensed as incurred.
Pension and Other Postretirement Benefits
Pension and Other Postretirement Benefits
Mosaic offers a number of benefit plans that provide pension and other benefits to qualified employees. These plans include defined benefit pension plans, supplemental pension plans, defined contribution plans and other postretirement benefit plans.
We accrue the funded status of our plans, which is representative of our obligations under employee benefit plans and the related costs, net of plan assets measured at fair value. The cost of pensions and other retirement benefits earned by employees is generally determined with the assistance of an actuary using the projected benefit method prorated on service and management’s best estimate of expected plan investment performance, salary escalation, retirement ages of employees and expected healthcare costs.
v3.25.4
Investments, All Other Investments (Policies)
12 Months Ended
Dec. 31, 2025
Equity Method Investments and Joint Ventures [Abstract]  
Investments in Non-consolidated Companies
We have investments in various international and domestic entities and ventures. The equity method of accounting is applied to such investments when the ownership structure prevents us from exercising a controlling influence over operating and financial policies of the businesses but still allow us to have significant influence. Under this method, our equity in the net earnings or losses of the investments is reflected as equity in net earnings of non-consolidated companies on our Consolidated Statements of Earnings. The effects of material intercompany transactions with these equity method investments are eliminated, including the the Company's economic interest in the gross profit on sales to and purchases from our equity-method investments which is deferred until the time of sale to the final third-party customer. The cash flow presentation of dividends received from equity method investees is determined by evaluation of the facts, circumstances and nature of the distribution.
v3.25.4
Goodwill (Policies)
12 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill
Goodwill is carried at cost, not amortized, and represents the excess of the purchase price and related costs over the fair value assigned to the net identifiable assets of a business acquired. We test goodwill for impairment on a quantitative basis at the reporting unit level on an annual basis or upon the occurrence of events that may indicate possible impairment. Impairment is measured as the excess carrying value over the fair value of goodwill.
v3.25.4
Debt (Policies)
12 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
Structured Accounts Payable Arrangements
In Brazil, we finance some of our potash-based fertilizer, sulfur, ammonia and other raw material product purchases through third-party contractual arrangements. These arrangements provide that the third-party intermediary advance the amount of the scheduled payment to the vendor, less an appropriate discount, at a scheduled payment date and Mosaic makes payment to the third-party intermediary at dates ranging from 119 to 193 days from date of shipment. At December 31, 2025 and 2024, these structured accounts payable arrangements were $480.1 million and $402.3 million, respectively. Payments and proceeds rollforward information on structured payable arrangements are provided on the Consolidated Statements of Cash Flows. During 2025 and 2024, the interest expense component of such programs were $21.9 million and $22.9 million, respectively.
Intercompany Loans
A portion of our debt is denominated in Brazilian reals. We manage the net foreign currency exposure created by this debt through various means, including the designation of certain intercompany loans as permanent loans because they are not expected to be repaid in the foreseeable future. Foreign currency transaction gains and losses on intercompany loans that are not designated as permanent loans are recorded in earnings. Foreign currency transaction gains and losses on intercompany loans that are designated as permanent loans are recorded in other comprehensive income (loss).
v3.25.4
Income Taxes (Policies)
12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
Income Taxes .
v3.25.4
Leases (Tables)
12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Schedule of Lease Assets and Liabilities [Table Text Block] Our leases have remaining lease terms of one year to 37 years, some of which include options to extend the lease for up to 20 years and some of which include options to terminate the lease within one year.
Supplemental balance sheet information related to leases as of December 31, 2025 and December 31, 2024 is as follows:
December 31,
Type of Lease Asset or Liability20252024Balance Sheet Classification
(in millions)
Operating Leases
Right-of-use assets$223.6 $220.0 Other assets
Lease liabilities:
Short-term59.6 43.9 Accrued liabilities
Long-term166.0 181.2 Other noncurrent liabilities
Total$225.6 $225.1 
Finance Leases
Right-of-use assets:
Gross assets$532.6 $452.0 
Less: accumulated depreciation249.3 205.3 
Net assets$283.3 $246.7 Property, plant and equipment, net
Lease liabilities:
Short-term$32.1 $30.6 Current maturities of long-term debt
Long-term143.9 114.2 Long-term debt, less current maturities
Total$176.0 $144.8 
Lease, Cost [Table Text Block] The components of lease expense were as follows:
December 31,
(in millions)202520242023
Operating lease cost$101.9 $87.2 $86.9 
Finance lease cost:
Amortization of right-of-use assets52.0 45.5 45.8 
Interest on lease liabilities14.5 6.1 7.1 
Short-term lease cost— 0.2 0.1 
Variable lease cost21.1 19.5 19.8 
Total lease cost$189.5 $158.5 $159.7 
Rental expense for 2025, 2024 and 2023 was $269.7 million, $269.4 million and $252.1 million, respectively.
Supplemental cash flow information related to leases was as follows:
December 31,
(In millions)202520242023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$89.3 $90.4 $89.2 
Operating cash flows from finance leases14.6 6.1 7.1 
Financing cash flows from finance leases39.6 42.9 78.8 
 
Right-of-use assets obtained in exchange for lease obligations:
Operating leases$66.9 $70.4 $54.5 
Finance leases86.2 9.0 35.8 
Other information related to leases was as follows:
Schedule of Future Minimum Lease Payments for Operating and Finance Leases [Table Text Block]
Future lease payments under non-cancellable leases recorded as of December 31, 2025, were as follows:
Operating LeasesFinance Leases
(in millions)
2026$71.9 $44.6 
202755.2 38.6 
202836.9 36.9 
202932.0 72.8 
203013.6 6.7 
Thereafter58.3 10.4 
Total future lease payments$267.9 $210.0 
Less imputed interest(42.3)(34.0)
Total$225.6 $176.0 
v3.25.4
Other Financial Statement Data (Tables)
12 Months Ended
Dec. 31, 2025
Balance Sheet Related Disclosures [Abstract]  
Schedule of Other Assets and Other Liabilities
The following provides additional information concerning selected balance sheet accounts:
 December 31,
(in millions)20252024
Receivables
Trade - External$887.8 $969.1 
Trade - Affiliate82.2 67.1 
Non-trade109.6 78.1 
1,079.6 1,114.3 
Less allowance for doubtful accounts1.0 1.0 
$1,078.6 $1,113.3 
Inventories
Raw materials$285.7 $148.6 
Work in process1,150.2 941.1 
Finished goods1,587.6 1,239.8 
Final price deferred (a)
133.8 53.5 
Operating materials and supplies205.7 165.4 
$3,363.0 $2,548.4 
Other current assets
Income and other taxes receivable$230.6 $234.9 
Prepaid expenses194.6 299.8 
Other20.6 29.1 
$445.8 $563.8 
Other assets
Restricted cash$14.2 $17.3 
MRO inventory141.9 169.0 
Marketable securities held in trust - restricted758.4 708.7 
Operating lease right-of-use assets223.6 220.0 
Indemnification asset26.9 18.4 
Long-term receivable14.7 12.9 
Cloud computing cost (b)
140.7 166.3 
Other274.7 207.7 
$1,595.1 $1,520.3 
 December 31,
(in millions)20252024
Accrued liabilities
Accrued dividends$75.9 $74.1 
Payroll and employee benefits168.8 161.8 
Asset retirement obligations271.3 352.8 
Customer prepayments297.3 270.7 
Accrued income and other taxes34.3 204.7 
Operating lease obligation59.6 43.9 
Other565.3 612.1 
$1,472.5 $1,720.1 
Other noncurrent liabilities
Asset retirement obligations$2,330.6 $2,219.4 
Operating lease obligation 166.0 181.2 
Accrued pension and postretirement benefits102.8 91.6 
Unrecognized tax benefits23.1 17.7 
Other388.9 353.0 
$3,011.4 $2,862.9 
______________________________
(a)Final price deferred is product that has shipped to customers, but we retain control and do not recognize revenue until a sales contract has been agreed to with the customer.
(b)Implementation costs eligible for capitalization related to cloud computing arrangements that are a service contract are recorded within Prepaid expenses and Other assets in the Consolidated Balance Sheets and amortized over the reasonably certain term of the associated hosting arrangement.
Schedule of Other Nonoperating Income (Expense)
Interest expense, net was comprised of the following in 2025, 2024 and 2023:
 Years Ended December 31,
(in millions)202520242023
Interest income$53.8 $47.2 $59.6 
Less interest expense241.5 230.0 189.0 
Interest expense, net$(187.7)$(182.8)$(129.4)
v3.25.4
Property, Plant and Equipment (Tables)
12 Months Ended
Dec. 31, 2025
Property, Plant and Equipment [Abstract]  
Property Plant And Equipment
Property, plant and equipment consist of the following:
 December 31,
(in millions)20252024
Land$364.7 $352.5 
Mineral properties and rights7,254.0 6,831.3 
Buildings and leasehold improvements4,079.4 3,836.4 
Machinery and equipment12,406.3 11,684.0 
Construction in-progress1,004.2 1,148.1 
25,108.6 23,852.3 
Less: accumulated depreciation and depletion11,126.0 10,499.7 
$13,982.6 $13,352.6 
v3.25.4
Earnings Per Share (Tables)
12 Months Ended
Dec. 31, 2025
Earnings Per Share [Abstract]  
Schedule of earnings per share
The following is a reconciliation of the numerator and denominator for the basic and diluted EPS computations:
 Years Ended December 31,
(in millions)202520242023
Net earnings attributable to Mosaic$540.7 $174.9 $1,164.9 
Basic weighted average number of shares outstanding attributable to common stockholders317.3 319.8 331.3 
Dilutive impact of share-based awards1.6 0.9 1.9 
Diluted weighted average number of shares outstanding318.9 320.7 333.2 
Basic net earnings per share$1.70 $0.55 $3.52 
Diluted net earnings per share$1.70 $0.55 $3.50 
v3.25.4
Cash Flow Information (Tables)
12 Months Ended
Dec. 31, 2025
Supplemental Cash Flow Elements [Abstract]  
Schedule Of Cash Flow Supplemental Disclosures Table
Supplemental disclosures of cash paid for interest and income taxes and non-cash investing and financing information is as follows:
Years Ended December 31,
(in millions)202520242023
Cash paid during the period for:
Interest$223.9 $228.7 $204.7 
Less amount capitalized31.7 42.3 35.2 
Cash interest, net$192.2 $186.4 $169.5 
Income taxes$321.3 $337.0 $385.6 
v3.25.4
Investments in Non-Consolidated Companies (Tables)
12 Months Ended
Dec. 31, 2025
Equity Method Investments and Joint Ventures [Abstract]  
Schedule of Equity Method Investments
A summary of our equity-method investments, which were in operation as of December 31, 2025, is as follows:
EntityEconomic Interest
River Bend Ag, LLC50.0 %
IFC S.A.45.0 %
Canpotex36.2 %
The summarized financial information shown below includes all non-consolidated companies carried on the equity method.
Years Ended December 31,
(in millions)202520242023
Net sales$4,256.1 $3,601.9 $7,055.1 
Net earnings5.8 6.2 317.9 
Mosaic’s share of equity in net earnings2.9 3.1 60.3 
Total assets2,328.4 1,883.8 9,900.6 
Total liabilities2,308.9 1,865.1 7,014.1 
Mosaic’s share of equity in net assets9.8 9.4 725.9 
v3.25.4
Goodwill (Tables)
12 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill
The changes in the carrying amount of goodwill, by reporting unit, as of December 31, 2025 and 2024, are as follows:
(in millions)PotashMosaic FertilizantesCorporate, Eliminations and OtherTotal
Balance as of December 31, 2023$1,026.9 $99.6 $12.1 $1,138.6 
Foreign currency translation(71.5)(6.0)— (77.5)
Balance as of December 31, 2024$955.4 $93.6 $12.1 $1,061.1 
Foreign currency translation41.2 2.7 — 43.9 
Impairment(3.6)(96.3)— (99.9)
Balance as of December 31, 2025$993.0 $— $12.1 $1,005.1 
v3.25.4
Financing Arrangements (Tables)
12 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
Schedule of long-term debt, including current maturites Long-term debt as of December 31, 2025 and 2024, respectively, consisted of the following:
20252024
(in millions)
Stated Interest Rate

Effective Interest Rate
Maturity Date
Stated Value
Combination Fair
Market
Value Adjustment
Discount on Notes Issuance
Carrying Value

Stated Value
Combination Fair
Market
Value Adjustment
Discount on Notes Issuance
Carrying Value
Unsecured notes
4.05% -
5.63%
5.26%2027-
2043
$3,400.0 $— $(5.6)$3,394.4 $2,500.0 $— $(5.1)$2,494.9 
Unsecured debentures
7.30%
7.19%2028147.1 0.2 — 147.3 147.1 0.3 — 147.4 
Term Loan30 Day SOFR6.27%2033570.0 — — 570.0 570.0 — — 570.0 
Finance leases
0.77% -
13.02%
7.82%2026-
2034
176.0 — — 176.0 144.8 — — 144.8 
Other(a)
6.53% -
8.00%
5.00%2026-
2027
3.3 3.0 — 6.3 17.1 3.4 — 20.5 
Total long-term debt
4,296.4 3.2 (5.6)4,294.0 3,379.0 3.7 (5.1)3,377.6 
Less current portion
43.0 0.8 (0.7)43.1 45.4 0.4 (0.5)45.3 
Total long-term debt, less current maturities
$4,253.4 $2.4 $(4.9)$4,250.9 $3,333.6 $3.3 $(4.6)$3,332.3 
______________________________
(a) Includes deferred financing fees related to our long-term debt.
Scheduled maturities of long-term debt
Scheduled maturities of long-term debt are as follows for the periods ending December 31:
(in millions) 
2026$43.1 
2027727.4 
2028575.2 
2029569.1 
2030404.3 
Thereafter1,974.9 
Total$4,294.0 
v3.25.4
Marketable Securities Held in Trusts (Tables)
12 Months Ended
Dec. 31, 2025
Investments, Debt and Equity Securities [Abstract]  
Debt Securities, Available-for-sale
The estimated fair value of the investments in the RCRA Trusts as of December 31, 2025 and December 31, 2024 are as follows:
December 31, 2025
(in millions)Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair
Value
Level 1
    Cash and cash equivalents $4.8 $— $— $4.8 
Level 2
    Corporate debt securities218.8 3.4 (2.8)219.4 
    Municipal bonds208.3 3.9 (1.3)210.9 
    U.S. government bonds308.7 — (0.5)308.2 
Total$740.6 $7.3 $(4.6)$743.3 
December 31, 2024
(in millions)Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair
Value
Level 1
    Cash and cash equivalents $3.1 $— $— $3.1 
Level 2
    Corporate debt securities203.3 0.8 (6.8)197.3 
    Municipal bonds210.8 0.7 (4.0)207.5 
    U.S. government bonds295.1 — (7.8)287.3 
Total$712.3 $1.5 $(18.6)$695.2 
Debt Securities, Available-for-sale, Unrealized Loss Position, Fair Value
The following tables show gross unrealized losses and fair values of the RCRA Trusts’ available-for-sale securities that have been in a continuous unrealized loss position for which an allowance for credit losses has not been recorded as of December 31, 2025 and December 31, 2024.
December 31, 2025December 31, 2024
Securities that have been in a continuous loss position for less than 12 months (in millions):
Fair
Value
Gross
Unrealized
Losses
Fair
Value
Gross
Unrealized
Losses
Corporate debt securities$17.0 $(0.2)$53.4 $(0.7)
Municipal bonds14.0 — 102.4 (1.7)
U.S. government bonds306.2 (0.5)280.9 (7.8)
Total$337.2 $(0.7)$436.7 $(10.2)
December 31, 2025December 31, 2024
Securities that have been in a continuous loss position for more than 12 months (in millions):
Fair
Value
Gross
Unrealized
Losses
Fair
Value
Gross
Unrealized
Losses
Corporate debt securities$48.3 $(2.7)$81.3 $(6.1)
Municipal bonds40.2 (1.2)55.6 (2.3)
U.S. government bonds— — — — 
Total$88.5 $(3.9)$136.9 $(8.4)
Schedule of maturity dates for debt securities
The following table summarizes the balance by contractual maturity of the available-for-sale debt securities invested by the RCRA Trusts as of December 31, 2025. Actual maturities may differ from contractual maturities because the issuers of the securities may have the right to prepay obligations before the underlying contracts mature.
(in millions)December 31, 2025
Due in one year or less$13.1 
Due after one year through five years308.6 
Due after five years through ten years373.8 
Due after ten years43.0 
Total debt securities$738.5 
v3.25.4
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Income Tax Disclosure [Abstract]    
Provision For Income Taxes
The provision for income taxes for 2025, 2024 and 2023 consisted of the following:
 Years Ended December 31,
(in millions)202520242023
Current:
Federal$42.1 $(11.7)$86.4 
State3.3 10.7 1.5 
Non-U.S.331.5 339.2 357.4 
Total current376.9 338.2 445.3 
Noncurrent:
Federal$(1.9)$(0.1)$0.3 
State9.4 — — 
Non-U.S.(1.8)(10.8)(3.0)
Total noncurrent5.7 (10.9)(2.7)
Deferred:
Federal$(1.4)$(41.7)$(35.4)
State7.5 (29.0)(4.2)
Non-U.S.251.1 (69.9)(226.0)
Total deferred257.2 (140.6)(265.6)
Total:
Federal$38.8 $(53.5)$51.3 
State20.2 (18.3)(2.7)
Non-U.S.580.8 258.5 128.4 
Provision for income taxes$639.8 $186.7 $177.0 
 
Schedule Of Effective Income Tax Rate
The table below provides the updated requirements of ASU 2023-09 for 2025. The effects of significant adjustments to tax computed at the federal statutory rate were as follows:
Years Ended December 31, 2025
(in millions)AmountPercent
Computed tax at the U.S. federal statutory rate$254.7 21.0 %
State and local income taxes, net of federal income tax effect(1)
14.5 1.2 %
Effect of changes in tax laws or rates enacted in the current period— — %
Effect of cross-border tax laws
    U.S. tax on Canadian branches, net of credits(95.5)(7.9)%
    Global Intangible Low-Taxed Income, net of credits42.3 3.5 %
    Other23.1 1.9 %
Tax credits
    U.S. general basket foreign tax credits(45.4)(3.7)%
    Other(7.3)(0.6)%
Changes in valuation allowances101.8 8.4 %
Nontaxable or nondeductible items                              
    Percentage depletion in excess of basis(20.5)(1.7)%
    Corporate expenses paid on behalf of foreign subsidiaries15.5 1.3 %
    Other10.7 0.9 %
Foreign tax effects
  Brazil
    Book loss on sale of the Taquari mine22.3 1.8 %
    Changes in valuation allowances207.3 17.1 %
    Other53.7 4.4 %
    Withholding tax on interest18.7 1.5 %
  Canada
    Statutory tax rate difference between Canada and U.S.(40.1)(3.3)%
    Provincial taxes68.1 5.6 %
    Other(14.7)(1.2)%
    Withholding tax on dividends14.1 1.2 %
  Peru
    Statutory tax rate difference between Peru and U.S.14.3 1.2 %
    Other15.4 1.3 %
  Other foreign jurisdictions7.7 0.6 %
Worldwide changes in unrecognized tax benefits(3.1)(0.3)%
Other Adjustments
  Domestic federal
    Estimated loss on sale of Carlsbad(24.3)(2.0)%
    Other6.5 0.5 %
Effective tax rate$639.8 52.7 %
(1)State taxes in Minnesota made up the majority (greater than 50 percent) of the tax effect in this category.
 Years Ended December 31,
(in millions)20242023
Computed tax at the U.S. federal statutory rate21.0 %21.0 %
State and local income taxes, net of federal income tax benefit(5.7)%0.4 %
Percentage depletion in excess of basis(13.8)%(4.9)%
Impact of non-U.S. earnings23.8 %8.7 %
Change in valuation allowance13.0 %(1.7)%
Non-U.S. incentives(42.6)%(11.5)%
Withholding tax13.6 %6.3 %
U.S. general basket foreign tax credits(12.6)%(4.0)%
Tax legislation change impacts(5.7)%(1.6)%
Undistributed earnings33.0 %2.2 %
Tax on dividends, deemed dividends, and GILTI16.2 %0.7 %
Nondeductible expenses20.0 %0.2 %
Other items (none in excess of 5% of computed tax)(1.0)%(2.5)%
Effective tax rate59.2 %13.3 %
Schedule of Net Cash Paid For Income Taxes
Net cash paid (refunds received) for income taxes consisted of the following:
Years Ended December 31,
(in millions)
202520242023
U.S. federal
$(10.8)$— $— 
U.S. state and local
7.0 — — 
Foreign
Canada federal148.7 — — 
Saskatchewan80.5 — — 
Canada other provincial
4.3 — — 
Peru
53.7 — — 
Brazil
19.5 — — 
Other
18.4 — — 
Cash paid (refunds received) for income taxes (prior to ASU 2023-09)
— 337.0 385.6 
Net cash paid (refunds received) for income taxes
$321.3 $337.0 $385.6 
 
Schedule Of Deferred Tax Assets And Liabilities
Significant components of our deferred tax liabilities and assets were as follows as of December 31:
 December 31,
(in millions)20252024
Deferred tax liabilities:
Depreciation and amortization$601.9 $614.5 
Depletion593.5 573.4 
Partnership tax basis differences63.5 80.6 
Undistributed earnings of non-U.S. subsidiaries47.4 84.4 
Other liabilities61.8 78.6 
Total deferred tax liabilities$1,368.1 $1,431.5 
Deferred tax assets:
Capital loss carryforwards12.3 15.0 
Foreign tax credit carryforwards1,553.2 1,431.8 
Net operating loss carryforwards479.8 450.6 
Pension plans and other benefits17.7 13.9 
Asset retirement obligations538.2 547.4 
Disallowed interest expense under §163(j)24.7 20.3 
Other assets418.9 497.3 
Subtotal3,044.8 2,976.3 
Valuation allowance1,866.0 1,529.3 
Net deferred tax assets1,178.8 1,447.0 
Net deferred tax assets/(liabilities)$(189.3)$15.5 
 
Summary Of Income Tax Uncertainties
A summary of gross unrecognized tax benefit activity is as follows:
 Years Ended December 31,
(in millions)202520242023
Gross unrecognized tax benefits, beginning of period$14.2 $25.8 $25.2 
Gross increases:
Prior period tax positions— — 0.9 
Current period tax positions1,401.1 1.6 3.0 
Gross decreases:
Prior period tax positions(2.3)(11.5)(3.8)
Currency translation0.5 (1.7)0.5 
Gross unrecognized tax benefits, end of period$1,413.5 $14.2 $25.8 
 
Summary of Valuation Allowance
Changes to our income tax valuation allowance were as follows:
Years Ended December 31,
(in millions)202520242023
Income tax valuation allowance, related to deferred income taxes
Balance at beginning of period$1,529.3 $1,421.9 $909.9 
Charges or (reductions) to costs and expenses336.7 107.4 512.0 
Balance at end of period$1,866.0 $1,529.3 $1,421.9 
 
Schedule of Income before Income Tax, Domestic and Foreign
Income (loss) before income taxes for 2025, 2024 and 2023 consisted of the following:
Years Ended December 31,
(in millions)202520242023
Domestic earnings$159.5 $(557.8)$121.6 
Foreign earnings1,053.4 873.21,204.3 
Earnings (loss) from consolidated companies before income taxes$1,212.9 $315.4 $1,325.9 
 
Schedule Of Cash Flow Supplemental Disclosures Table
Supplemental disclosures of cash paid for interest and income taxes and non-cash investing and financing information is as follows:
Years Ended December 31,
(in millions)202520242023
Cash paid during the period for:
Interest$223.9 $228.7 $204.7 
Less amount capitalized31.7 42.3 35.2 
Cash interest, net$192.2 $186.4 $169.5 
Income taxes$321.3 $337.0 $385.6 
 
v3.25.4
Asset Retirement Obligations (Tables)
12 Months Ended
Dec. 31, 2025
Asset Retirement Obligation Disclosure [Abstract]  
Schedule of Asset Retirement Obligations
A reconciliation of our AROs is as follows:
 Years Ended December 31,
(in millions)20252024
AROs, beginning of period$2,572.2 $2,213.4 
Liabilities incurred22.7 29.8 
Liabilities settled(288.9)(253.8)
Accretion expense129.7 111.2 
Revisions in estimated cash flows190.5 541.4 
Foreign currency translation37.8 (69.8)
Held for sale/disposed(62.1)— 
AROs, end of period2,601.9 2,572.2 
Less current portion271.3 352.8 
Non-current portion of AROs$2,330.6 $2,219.4 
v3.25.4
Derivative Instruments and Hedging Activities (Tables)
12 Months Ended
Dec. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule Of Derivative Instruments Notional Amounts
The following is the total absolute notional volume associated with our outstanding derivative instruments:
(in millions of Units)
InstrumentDerivative CategoryUnit of MeasureDecember 31,
2025
December 31,
2024
Foreign currency derivativesForeign CurrencyU.S. Dollars433.3 1,377.3 
Natural gas derivativesCommodityMM BTU0.9 2.5 
v3.25.4
Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2025
Fair Value Disclosures [Abstract]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis
The carrying amounts and estimated fair values of our financial instruments are as follows:
 December 31,
 20252024
 CarryingFairCarryingFair
(in millions)AmountValueAmountValue
Cash and cash equivalents$276.6 $276.6 $272.8 $272.8 
Accounts receivable1,078.6 1,078.6 1,113.3 1,113.3 
Equity securities1,804.2 1,804.2 1,486.8 1,486.8 
Accounts payable1,171.9 1,171.9 1,156.5 1,156.5 
Structured accounts payable arrangements480.1 480.1 402.3 402.3 
Short-term debt759.9 759.9 847.1 847.1 
Long-term debt, including current portion4,294.0 4,311.0 3,377.6 3,324.1 
v3.25.4
Pension Plans and Other Benefits (Tables)
12 Months Ended
Dec. 31, 2025
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]  
Schedule Of Defined Benefit Plans Disclosures
 Pension Plans
 Years Ended December 31,
(in millions)20252024
Change in projected benefit obligation:
Benefit obligation at beginning of period$114.6 $119.6 
Service cost2.7 3.0 
Interest cost5.2 5.5 
Actuarial loss(3.7)0.2 
Currency fluctuations5.5 (9.4)
Benefits paid and transfers(3.2)(4.3)
Plan amendments1.5 — 
Projected benefit obligation at end of period$122.6 $114.6 
Change in plan assets:
Fair value at beginning of period$146.3 $157.1 
Currency fluctuations6.9 (12.2)
Actual return1.1 12.8 
Company contribution0.4 (7.1)
Benefits paid and transfers(3.3)(4.3)
Fair value at end of period$151.4 $146.3 
Funded status of the plans as of the end of period$28.8 $31.7 
Amounts recognized in the consolidated balance sheets:
Noncurrent assets$34.6 $37.4 
Current liabilities(0.4)(0.4)
Noncurrent liabilities(5.4)(5.3)
Amounts recognized in accumulated other comprehensive (income) loss
Prior service cost$12.2 $11.9 
Actuarial loss17.3 14.8 
Schedule of Changes in Accumulated Postemployment Benefit Obligations
The year-end status of the Brazil postretirement medical benefit plans with a discount rate of 11.70% and 9.95% on each of December 31, 2025 and 2024, respectively was as follows:
Postretirement Medical Benefits
Years Ended December 31,
(in millions)20252024
Change in accumulated postretirement benefit obligation (“APBO”):
APBO at beginning of year$54.3 $74.4 
Interest cost6.6 7.4 
Actuarial (gain) loss(1.8)(11.2)
Currency fluctuations7.2 (15.2)
Benefits paid(1.4)(1.1)
Net increase (decrease) in liability from acquisitions/disposals0.3 — 
APBO at end of year$65.2 $54.3 
Change in plan assets:
Company contribution$1.4 $1.1 
Benefits paid(1.4)(1.1)
Unfunded status of the plans as of the end of the year$(65.2)$(54.3)
Amounts recognized in the consolidated balance sheets:
Current liabilities$(1.4)$(1.4)
Noncurrent liabilities(63.8)(52.9)
Amounts recognized in accumulated other comprehensive income
Prior service credit$(8.2)$(8.8)
Actuarial (gain) loss$(2.5)$(0.6)
v3.25.4
Accumulated other Comprehensive Income (Tables)
12 Months Ended
Dec. 31, 2025
Accumulated Other Comprehensive Income [Abstract]  
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]
The following table sets forth the changes in AOCI by component during the years ended December 31, 2025, 2024 and 2023:
(in millions)Foreign Currency Translation Gain (Loss)Net Actuarial Gain and Prior Service CostAmortization of Gain on Interest Rate SwapNet Gain (Loss) on Marketable Securities Held in TrustTotal
Balance at December 31, 2022$(2,082.3)$(53.1)$6.7 $(23.5)(2,152.2)
Other comprehensive income (loss)152.0 31.1 1.8 30.6 215.5 
Tax (expense) or benefit2.1 (11.0)(0.4)(6.9)(16.2)
Other comprehensive income (loss), net of tax154.1 20.1 1.4 23.7 199.3 
Less: (Gain) Loss attributable to noncontrolling interest(2.0)— — — (2.0)
Balance at December 31, 2023$(1,930.2)$(33.0)$8.1 $0.2 $(1,954.9)
Other comprehensive income (loss)(478.6)16.8 (0.1)(19.6)(481.5)
Tax (expense) or benefit(17.0)(5.9)— 4.8 (18.1)
Other comprehensive income (loss), net of tax(495.6)10.9 (0.1)(14.8)(499.6)
Less: (Gain) Loss attributable to noncontrolling interest5.5 — — — 5.5 
Balance at December 31, 2024$(2,420.3)$(22.1)$8.0 $(14.6)$(2,449.0)
Other comprehensive income (loss)307.4 (4.6)(0.1)19.8 322.5 
Tax (expense) or benefit(0.3)1.9 — (4.5)(2.9)
Other comprehensive income (loss), net of tax307.1 (2.7)(0.1)15.3 319.6 
Less: (Gain) Loss attributable to noncontrolling interest(2.5)— — — (2.5)
Balance at December 31, 2025$(2,115.7)$(24.8)$7.9 $0.7 $(2,131.9)
v3.25.4
Share-based Payments (Tables)
12 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions
Assumptions used to calculate the fair value of stock options awarded in 2017 are noted in the following table. Expected volatility is based on the simple average of implied and historical volatility using the daily closing prices of the Company’s stock for a period equal to the expected term of the option. The risk-free interest rate is based on the U.S. Treasury rate at the time of the grant for instruments of comparable life.
 Year Ended December 31, 2017
Weighted average assumptions used in option valuations:
Expected volatility35.35 %
Expected dividend yield1.97 %
Expected term (in years)7
Risk-free interest rate2.34 %
Schedule of Share-based Compensation, Stock Options, Activity
A summary of the status of our stock options as of December 31, 2025, and activity during 2025, is as follows:
Shares
(in millions)
Weighted
Average
Exercise
Price
Weighted Average Remaining Contractual Term (Years)Aggregate
Intrinsic
Value
Outstanding as of December 31, 20240.5 $32.68 
Granted— — 
Exercised(0.1)$28.49 
Cancelled or forfeited(0.1)$50.43 
Outstanding as of December 31, 20250.3 $29.80 0.85$— 
Exercisable as of December 31, 20250.3 $29.80 0.85$— 
There were no stock options granted or issued in 2024 or 2023.
Schedule of Share-based Compensation, Restricted Stock Units Award Activity
A summary of the status of our restricted stock units as of December 31, 2025, and activity during 2025, is as follows:
Shares
(in millions)
Weighted Average
Grant Date Fair
Value Per Share
Restricted stock units as of December 31, 20241.6 $41.61 
Granted1.0 23.87 
Issued and cancelled or forfeited(0.4)$49.48 
Restricted stock units as of December 31, 20252.2 $31.74 
Schedule Of Nonvested Performance Based Units Valuation Assumptions
A summary of the assumptions used to estimate the fair value of TSR performance units is as follows:
Years Ended December 31,
202520242023
Performance units granted818,382 496,367 1,206,283 
Average fair value of performance units on grant date$21.3 $31.02 $50.56 
Weighted average assumptions used in performance unit valuations:
Expected volatility39.71 %40.95 %48.33 %
Expected dividend yield3.64 %2.59 %1.52 %
Expected term (in years)333
Risk-free interest rate3.90 %4.48 %4.52 %
Schedule of Nonvested Performance-based Units Activity
A summary of our performance unit activity during 2025 is as follows:
Shares
(in millions)
Weighted Average
Grant Date Fair
Value Per Share
Outstanding as of December 31, 20241.1 $44.15 
Granted0.8 21.30 
Issued and cancelled or forfeited(0.2)$54.16 
Outstanding as of December 31, 20251.7 $31.26 
The outstanding performance units as of December 31, 2025 and 2024 include 593,968 and 463,410 cash-settled performance units, respectively.
v3.25.4
Commitments (Tables)
12 Months Ended
Dec. 31, 2025
Commitments and Contingencies Disclosure [Abstract]  
Schedule of commitments and contingencies
A schedule of future minimum long-term purchase commitments, based on expected market prices as of December 31, 2025 is as follows:
(in millions)Purchase
Commitments
2026$4,887.8 
20272,245.4 
2028769.5 
2029449.8 
2030234.6 
Subsequent years24.8 
$8,611.9 
v3.25.4
Related Party (Tables)
12 Months Ended
Dec. 31, 2025
Related Party Transactions [Abstract]  
Schedule of Related Party Transactions [Table Text Block] The Consolidated Statements of Earnings included the following transactions with our non-consolidated companies:
 Years Ended December 31,
(in millions)202520242023
Transactions with non-consolidated companies included in net sales$1,274.9 $931.0 $1,321.0 
Transactions with non-consolidated companies included in cost of goods sold$1,015.6 $1,082.7 $1,465.2 
v3.25.4
Business Segments (Tables)
12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Schedule of segment reporting by segment
Segment information for the years 2025, 2024 and 2023 is as follows:
(in millions)PhosphatePotashMosaic Fertilizantes
Corporate,
Eliminations
and Other (a)
Total
Year Ended December 31, 2025
Net sales to external customers$3,877.8 $2,658.7 $4,847.3 $668.6 $12,052.4 
Intersegment net sales698.7 3.0 — (701.7)— 
Net sales4,576.5 2,661.7 4,847.3 (33.1)12,052.4 
Cost of goods sold(b)
4,139.2 1,791.7 4,355.3 (135.7)10,150.5 
Gross margin437.3 870.0 492.0 102.6 1,901.9 
Canadian resource taxes— 272.8 — — 272.8 
Gross margin (excluding Canadian resource taxes)437.3 1,142.8 492.0 102.6 2,174.7 
Selling, general and administrative(c)
45.8 30.1 147.9 310.1 533.9 
Loss (gain) on assets sold and to be sold— 185.0 (27.7)— 157.3 
Impairment of goodwill— 3.6 96.3 — 99.9 
Other operating expenses(d)
256.0 13.6 (1.4)21.1 289.3 
Operating earnings 135.4 637.7 277.0 (228.6)821.5 
Capital expenditures848.9 243.5 260.5 6.5 1,359.4 
Depreciation, depletion and amortization expense500.7 336.5 174.2 38.5 1,049.9 
Equity in net earnings of nonconsolidated companies— — — 2.3 2.3 
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 sales725.5 17.7 — (743.2)— 
Net sales4,518.8 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 margin594.0 643.2 406.6 (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 earnings225.1 604.5 237.6 (445.7)621.5 
Gain on sale of equity method investment522.2 — — — 522.2 
Capital expenditures660.7 297.5 242.8 50.8 1,251.8 
Depreciation, depletion and amortization expense505.6 336.5 159.3 24.1 1,025.5 
Equity in net earnings of nonconsolidated companies70.9 — — 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 sales829.8 30.5 — (860.3)— 
Net sales4,724.3 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 margin702.1 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 
Loss (gain) on assets sold and to be sold— — — (56.5)(56.5)
Other operating expenses(d)
284.3 33.5 27.0 83.7 428.5 
Operating earnings375.7 1,151.5 74.5 (263.6)1,338.1 
Capital expenditures625.9 357.4 336.3 82.8 1,402.4 
Depreciation, depletion and amortization expense485.7 299.0 165.5 10.4 960.6 
Equity in net earnings of nonconsolidated companies56.4 — — 3.9 60.3 
Total assets as of December 31, 2025$10,239.0 $6,610.6 $4,618.5 $3,012.0 $24,480.1 
Total assets as of December 31, 2024(e)
9,419.5 6,480.6 4,372.0 2,651.9 22,924.0 
Total assets as of December 31, 2023(e)
9,494.9 6,914.7 5,205.7 1,417.5 23,032.8 
______________________________
(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, 2025, 2024 and 2023, distribution operations in India and China had revenues of $640.0 million, $519.6 million and $898.9 million, respectively, and gross margins of $88.0 million, $39.7 million and $(16.8) 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.
(e)In 2025, the information about segment assets regularly provided to and reviewed by our CODM was revised to no longer include intercompany assets and segment cash, and to include an allocation of certain fixed assets from Corprate to the Phosphate and Potash segments. As a result, the December 31, 2024 and 2023 balances have been recast to reflect these changes.
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)202520242023
Net sales(a):
Brazil$4,678.5 $4,296.2 $5,480.9 
Canpotex(b)
1,247.8 884.3 1,275.7 
China551.3 536.9 556.1 
Canada387.6 520.1 411.6 
Paraguay148.0 178.5 222.8 
Argentina133.4 141.8 75.2 
Japan122.5 130.8 157.7 
Colombia89.1 118.7 103.2 
India70.9 72.8 350.8 
Australia65.6 57.9 69.0 
Peru62.1 49.2 77.5 
Mexico29.0 42.2 125.5 
Honduras32.4 25.7 30.0 
Dominican Republic22.3 14.7 16.7 
Other89.0 82.3 64.3 
Total international countries7,729.5 7,152.1 9,017.0 
United States4,322.9 3,970.7 4,679.1 
Consolidated$12,052.4 $11,122.8 $13,696.1 
______________________________
(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)20252024
Long-lived assets:
Canada$5,837.8 $5,390.5 
Brazil2,372.9 2,012.8 
Other630.5 545.8 
Total international countries8,841.2 7,949.1 
United States8,584.7 8,457.2 
Consolidated$17,425.9 $16,406.3 
Excluded from the table above as of December 31, 2025 and 2024, are goodwill of $1,005.1 million and $1,061.1 million and deferred income tax assets of $811.6 million and $958.3 million, respectively.
Sales by product type
Net sales by product type for the years 2025, 2024 and 2023 are as follows:
Years Ended December 31,
(in millions)202520242023
Sales by product type:
Phosphate Crop Nutrients$3,273.4 $2,978.7 $3,277.5 
Potash Crop Nutrients2,920.4 2,808.6 4,107.7 
Crop Nutrient Blends1,380.6 1,253.4 2,107.4 
Performance Products(a)
2,635.1 2,264.2 2,453.3 
Phosphate Rock132.1 217.2 125.9 
Other(b)
1,710.8 1,600.7 1,624.3 
$12,052.4 $11,122.8 $13,696.1 
______________________________
(a)Includes sales of MicroEssentials®, K-Mag® and Aspire®.
(b)Includes sales of industrial potash, feed products, nitrogen and other products.
v3.25.4
Assets Sold and Held for Sale (Tables)
12 Months Ended
Dec. 31, 2025
Property, Plant and Equipment Assets Held-for-Sale Disclosure [Abstract]  
Disclosure of Long-Lived Assets Held-for-Sale
The carrying amounts of the major classes of assets and liabilities of the Carlsbad disposal group classified as held for sale as of December 31, 2025 are as follows:
(in millions)
Assets
Accounts receivable, net$15.7 
Inventories, net44.5 
Other assets14.2 
Property, plant and equipment, net184.1 
Valuation allowance on assets held for sale(185.0)
Current assets held for sale$73.5 
Liabilities
Accounts payable and accrued expenses$14.3 
Deferred tax liability20.2 
Asset retirement obligations 20.8 
Current liabilities held for sale$55.3 
v3.25.4
Organization and Nature of Business (Details)
Dec. 31, 2025
Dec. 31, 2024
Jan. 08, 2018
MWSPC      
Schedule of Equity Method Investments      
Equity method investment, ownership percentage 25.00% 25.00%  
Miski Mayo Joint Venture      
Schedule of Equity Method Investments      
Business Combination, Achieved in Stages, Preacquisition and Acquired Equity Interests in Acquiree, Percentage     75.00%
MWSPC | MWSPC      
Schedule of Equity Method Investments      
Equity method investment, ownership percentage 25.00%    
v3.25.4
Significant Accounting Policies (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Accounting Policies [Abstract]      
Net sales to external customers $ 12,052.4 $ 11,122.8 $ 13,696.1
Sales And Receivables [Line Items]      
Canadian resources taxes and royalties included in cost of goods sold 315.6 272.7 457.0
Assets related to PIS and Cofins and income tax credits in Brazil 60.8 96.2  
Net sales to external customers $ 12,052.4 $ 11,122.8 13,696.1
Revenue Recognition, Sale Incentives Percent of Total Revenue 100.00%    
Credit Concentration Risk | Accounts Receivable | Customer Concentration Risk      
Sales And Receivables [Line Items]      
Concentration Risk, Percentage 12.00% 11.00%  
Minimum | Machinery and equipment      
Sales And Receivables [Line Items]      
Useful life 3 years    
Minimum | Buildings and Leashold Improvements      
Sales And Receivables [Line Items]      
Useful life 3 years    
Maximum      
Sales And Receivables [Line Items]      
Duration of short term investments in number of days 90 days    
Maximum | Machinery and equipment      
Sales And Receivables [Line Items]      
Useful life 25 years    
Maximum | Buildings and Leashold Improvements      
Sales And Receivables [Line Items]      
Useful life 40 years    
Canpotex      
Sales And Receivables [Line Items]      
Accounts Receivable, Related Parties, Current $ 73.0 $ 65.1  
Canpotex      
Accounting Policies [Abstract]      
Net sales to external customers 1,200.0 884.3 [1],[2] 1,300.0 [1],[2]
Sales And Receivables [Line Items]      
Net sales to external customers $ 1,200.0 $ 884.3 [1],[2] $ 1,300.0 [1],[2]
[1] 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.
[2] Revenues are attributed to countries based on location of customer.
v3.25.4
Leases Operating and Finance Lease Assets and Liabilities (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Leases [Abstract]    
Lessee, Operating and Finance Lease, Maximum Term of Lease Contract 37 years  
Finance and Operating Leases, Maximum Lease Extension Term 20 years  
Operating Lease, Right-of-Use Asset $ 223.6 $ 220.0
Operating Lease, Liability, Current 59.6 43.9
Operating Lease, Liability, Noncurrent 166.0 181.2
Operating Lease, Liability 225.6 225.1
Finance Lease, Right-of-Use Asset 532.6 452.0
Less: accumulated depreciation 249.3 205.3
Finance Lease, Right-of-Use Asset, Net 283.3 246.7
Finance Lease, Liability, Current 32.1 30.6
Finance Lease, Liability, Noncurrent 143.9 114.2
Finance Lease, Liability $ 176.0 $ 144.8
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration] Other assets Other assets
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration] Accrued liabilities Accrued liabilities
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration] Other noncurrent liabilities Other noncurrent liabilities
Operating Lease, Liability, Statement of Financial Position [Extensible List] Liabilities, Total [Member] Liabilities, Total [Member]
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration] Property, plant and equipment, net Property, plant and equipment, net
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration] Current maturities of long-term debt Current maturities of long-term debt
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration] Long-Term Debt and Lease Obligation Long-Term Debt and Lease Obligation
Finance Lease, Liability, Statement of Financial Position [Extensible Enumeration] Liabilities, Total [Member] Liabilities, Total [Member]
v3.25.4
Leases Components of Lease Expense (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Leases [Abstract]      
Operating Lease Cost $ 101.9 $ 87.2 $ 86.9
Finance Lease, Right-of-Use Asset, Amortization 52.0 45.5 45.8
Finance Lease, Interest Expense 14.5 6.1 7.1
Short-term Lease Cost 0.0 0.2 0.1
Variable Lease Cost 21.1 19.5 19.8
Total Lease Cost 189.5 158.5 159.7
Operating Lease, Payments 89.3 90.4 89.2
Finance Lease, Interest Payment on Liability 14.6 6.1 7.1
Finance Lease, Principal Payments 39.6 42.9 78.8
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability 66.9 70.4 54.5
Right-of-Use Asset Obtained in Exchange for Finance Lease Liability $ 86.2 9.0 35.8
Operating Lease, Weighted Average Remaining Lease Term 5 years 10 months 24 days    
Finance Lease, Weighted Average Remaining Lease Term 4 years 2 months 12 days    
Operating Lease, Weighted Average Discount Rate, Percent 7.20%    
Finance Lease, Weighted Average Discount Rate, Percent 7.90%    
Direct Costs of Leased and Rented Property or Equipment $ 269.7 $ 269.4 $ 252.1
v3.25.4
Leases Future Minimum Lease Payments (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Leases [Abstract]    
Operating Leases, Future Minimum Payments Due, Next Twelve Months $ 71.9  
Capital Leases, Future Minimum Payments Due, Next Twelve Months 44.6  
Operating Leases, Future Minimum Payments, Due in Two Years 55.2  
Capital Leases, Future Minimum Payments Due in Two Years 38.6  
Finance Lease, Liability, to be Paid, Year Three 36.9  
Operating Leases, Future Minimum Payments, Due in Three Years 36.9  
Operating Leases, Future Minimum Payments, Due in Four Years 32.0  
Capital Leases, Future Minimum Payments Due in Four Years 72.8  
Operating Leases, Future Minimum Payments, Due in Five Years 13.6  
Capital Leases, Future Minimum Payments Due in Five Years 6.7  
Operating Leases, Future Minimum Payments, Due Thereafter 58.3  
Capital Leases, Future Minimum Payments Due Thereafter 10.4  
Operating Leases, Future Minimum Payments Due 267.9  
Finance Lease, Liability, Payment, Due 210.0  
Operating Leases, Imputed Interest (42.3)  
Finance Leases, Imputed Interest (34.0)  
Operating Lease, Liability 225.6 $ 225.1
Finance Lease, Liability $ 176.0 $ 144.8
v3.25.4
Other Financial Statement Data (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Receivables, Net, Current [Abstract]      
Trade $ 887.8 $ 969.1  
Accounts Receivable, before Allowance for Credit Loss, Related Party, Current 82.2 67.1  
Non-trade 109.6 78.1  
Accounts Receivable, before Allowance for Credit Loss 1,079.6 1,114.3  
Less: Allowance for doubtful accounts 1.0 1.0  
Current receivables, net 1,078.6 1,113.3  
Inventories      
Raw materials 285.7 148.6  
Work in process 1,150.2 941.1  
Finished goods 1,587.6 1,239.8  
Deferred Costs [1] 133.8 53.5  
Operating materials and supplies 205.7 165.4  
Inventory, net 3,363.0 2,548.4  
Other current assets      
Income and other taxes receivable 230.6 234.9  
Prepaid expenses 194.6 299.8  
Other 20.6 29.1  
Total other current assets 445.8 563.8  
Other Assets      
Restricted cash 14.2 17.3 $ 3.4
MRO inventory 141.9 169.0  
Debt Securities, Available-for-sale, Restricted 758.4 708.7  
Operating Lease, Right-of-Use Asset $ 223.6 $ 220.0  
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration] Other Assets, Noncurrent Other Assets, Noncurrent  
Indemnification asset $ 26.9 $ 18.4  
Long-term receivable 14.7 12.9  
Cloud computing asset [2] 140.7 166.3  
Other 274.7 207.7  
Other Assets, Noncurrent 1,595.1 1,520.3  
Accrued liabilities      
Accrued dividends 75.9 74.1  
Payroll and employee benefits 168.8 161.8  
Asset retirement obligations 271.3 352.8  
Customer prepayments 297.3 270.7  
Accrued Income Taxes 34.3 204.7  
Operating Lease, Liability, Current 59.6 43.9  
Other 565.3 612.1  
Total accrued liabilities, current 1,472.5 1,720.1  
Other noncurrent liabilities      
Asset retirement obligations 2,330.6 2,219.4  
Operating Lease, Liability, Noncurrent 166.0 181.2  
Accrued pension and postretirement benefits 102.8 91.6  
Unrecognized tax benefits 23.1 17.7  
Other 388.9 353.0  
Total other noncurrent liabilities 3,011.4 2,862.9  
Interest expense, net was comprised of the following:      
Interest income 53.8 47.2 59.6
Less interest expense 241.5 230.0 189.0
Interest expense, net $ (187.7) $ (182.8) $ (129.4)
[1] Final price deferred is product that has shipped to customers, but we retain control and do not recognize revenue until a sales contract has been agreed to with the customer.
[2]
(b)Implementation costs eligible for capitalization related to cloud computing arrangements that are a service contract are recorded within Prepaid expenses and Other assets in the Consolidated Balance Sheets and amortized over the reasonably certain term of the associated hosting arrangement.
v3.25.4
Property, Plant and Equipment (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Property, Plant and Equipment [Line Items]      
Property, plant and equipment, at cost $ 25,108.6 $ 23,852.3  
Less: accumulated depreciation and depletion 11,126.0 10,499.7  
Property, plant and equipment, net 13,982.6 13,352.6  
Depreciation 1,022.1 1,012.5 $ 958.9
Capitalized interest on major construction projects 31.7 42.3 $ 35.2
Land      
Property, Plant and Equipment [Line Items]      
Property, plant and equipment, at cost 364.7 352.5  
Mining properties and rights      
Property, Plant and Equipment [Line Items]      
Property, plant and equipment, at cost 7,254.0 6,831.3  
Buildings and leasehold improvements      
Property, Plant and Equipment [Line Items]      
Property, plant and equipment, at cost 4,079.4 3,836.4  
Machinery and equipment      
Property, Plant and Equipment [Line Items]      
Property, plant and equipment, at cost 12,406.3 11,684.0  
Construction in-progress      
Property, Plant and Equipment [Line Items]      
Property, plant and equipment, at cost $ 1,004.2 $ 1,148.1  
v3.25.4
Earnings Per Share (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Earnings Per Share [Abstract]      
Net earnings attributable to Mosaic $ 540.7 $ 174.9 $ 1,164.9
Basic weighted average number of shares outstanding (in shares) 317.3 319.8 331.3
Dilutive impact of share-based awards (in shares) 1.6 0.9 1.9
Diluted weighted average number of shares outstanding (in shares) 318.9 320.7 333.2
Basic net (loss) earnings per share (in usd per share) $ 1.70 $ 0.55 $ 3.52
Diluted net (loss) earnings per share (in usd per share) $ 1.70 $ 0.55 $ 3.50
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount 0.2 1.0 0.5
v3.25.4
Cash Flow Information (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash paid (received) during the period for:      
Interest Paid, Including Capitalized Interest, Operating and Investing Activities $ 223.9 $ 228.7 $ 204.7
Interest Paid, Capitalized, Investing Activity 31.7 42.3 35.2
Interest Paid, Excluding Capitalized Interest, Operating Activity 192.2 186.4 169.5
Income taxes 321.3 337.0 385.6
Increase Decrease in Capital Expenditures Incurred But Not Yet Paid 8.4 (20.3) (19.5)
Accrued dividends 75.9 74.1  
Dividends payable   74.1 72.3
Right-of-Use Asset Obtained in Exchange for Finance Lease Liability 86.2 9.0 35.8
Depreciation 1,022.1 1,012.5 958.9
Amortization of Intangible Assets 27.8 $ 13.0 1.7
Share Repurchase and Subscription Agreement, Authorized, Number of Shares   111,012,433  
Equity Method Investment, Realized Gain on Disposal   $ 538.2  
Fair Value of Shares   1,500.0  
Proceeds from Issuance of Commercial Paper 16,100.0 16,800.0  
Repayments of Commercial Paper 16,200.0 16,600.0  
Gain on sale of equity investment $ 0.0 $ 522.2 $ 0.0
v3.25.4
Investments in Non-Consolidated Companies (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Schedule of Equity Method Investments      
Net sales $ 12,052.4 $ 11,122.8 $ 13,696.1
Net earnings including noncontrolling interest 575.4 202.0 1,209.2
Equity in net earnings of nonconsolidated companies 2.3 73.3 60.3
Assets 24,480.1 22,924.0 23,032.8
Equity Method Investment, Underlying Equity in Net Assets $ 9.8 9.4 725.9
River Bend Ag      
Schedule of Equity Method Investments      
Equity method investment, ownership percentage 50.00%    
I F C      
Schedule of Equity Method Investments      
Equity method investment, ownership percentage 45.00%    
Canpotex      
Schedule of Equity Method Investments      
Equity method investment, ownership percentage 36.20%    
River Bend Ag, LLC, IFC S.A., Canpotex      
Schedule of Equity Method Investments      
Equity in net earnings of nonconsolidated companies $ 2.9 3.1  
Equity Method Investments [Member]      
Schedule of Equity Method Investments      
Net sales 4,256.1 3,601.9 7,055.1
Net earnings including noncontrolling interest 5.8 6.2 317.9
Assets 2,328.4 1,883.8 9,900.6
Liabilities $ 2,308.9 $ 1,865.1 $ 7,014.1
v3.25.4
Investments in Non-Consolidated Companies - MWSPC Joint Venture (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Schedule of Equity Method Investments      
Equity in net earnings of nonconsolidated companies $ 2.3 $ 73.3 $ 60.3
Equity securities 1,848.2 $ 1,533.4  
Percentage Of Total Production Expected To Market     25.00%
Share Repurchase and Subscription Agreement, Authorized, Number of Shares   111,012,433  
Gain on sale of equity investment 0.0 $ 522.2 $ 0.0
Gain (Loss) on Disposition of Stock in Subsidiary or Equity Method Investee $ 317.4 28.3  
Fair Value of Shares   1,500.0  
Equity Method Investment, Realized Gain on Disposal   $ 538.2  
MWSPC      
Schedule of Equity Method Investments      
Equity method investment, ownership percentage 25.00% 25.00%  
River Bend Ag      
Schedule of Equity Method Investments      
Equity method investment, ownership percentage 50.00%    
Equity Method Investee | MWSPC      
Schedule of Equity Method Investments      
Proportion of assets represented by MWSPC     77.00%
Proportion of liabilities represented by MWSPC     68.00%
Equity in net earnings of nonconsolidated companies   $ 70.8 $ 57.6
Equity securities     $ 770.0
v3.25.4
Goodwill (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Goodwill [Line Items]      
Beginning balance $ 1,061.1 $ 1,138.6  
Goodwill, Foreign Currency Translation, Gain (Loss) 43.9 (77.5)  
Impairment of goodwill (99.9) 0.0 $ 0.0
Ending balance 1,005.1 1,061.1 1,138.6
Goodwill determined to be tax deductible 15.6    
Potash Segment      
Goodwill [Line Items]      
Beginning balance 955.4 1,026.9  
Goodwill, Foreign Currency Translation, Gain (Loss) 41.2 (71.5)  
Impairment of goodwill (3.6)    
Ending balance 993.0 955.4 1,026.9
Mosaic Fertilizantes      
Goodwill [Line Items]      
Beginning balance 93.6 99.6  
Goodwill, Foreign Currency Translation, Gain (Loss) 2.7 (6.0)  
Impairment of goodwill (96.3)    
Ending balance 0.0 93.6 99.6
Corporate Eliminations And Other Segment      
Goodwill [Line Items]      
Beginning balance 12.1 12.1  
Goodwill, Foreign Currency Translation, Gain (Loss) 0.0 0.0  
Impairment of goodwill 0.0    
Ending balance $ 12.1 $ 12.1 $ 12.1
Minimum      
Goodwill [Line Items]      
Terminal Value Growth Rate 2.00%    
v3.25.4
Financing Arrangements - Mosaic Credit Facility (Details)
5 Months Ended 7 Months Ended 12 Months Ended
May 16, 2025
USD ($)
Dec. 31, 2025
USD ($)
Dec. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Debt Instrument          
The Mosaic Credit Facility amount of revolving credit loans $ 2,500,000,000        
A failure to pay principal or interest under any one item of other indebtedness in excess of $100 million, or breach or default under such indebtedness that permits the holders thereof to accelerate the maturity thereof, will result in a cross-default in the Mosaic Credit Line   $ 100,000,000 $ 100,000,000    
Debt Instrument, Covenant, Consolidated Capitalization Ratio, Minimum     0.65    
Debt Instrument, Covenant, Consolidated Capitalization Ratio, Maximum     1.0    
Debt Instrument, Covenant, Interest Coverage Ratio, Maximum     $ 3.0    
Credit facility, interest coverage ratio, minimum     1.0    
Letters of Credit Outstanding, Amount   $ 50,000,000.0 50,000,000.0    
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage 0.15% 0.125%   0.15% 0.15%
Short-term Debt          
Debt Instrument          
Letters of Credit Outstanding, Amount   $ 64,600,000 64,600,000    
Mosaic Credit Facility          
Debt Instrument          
Letters of Credit Outstanding, Amount   0 0 $ 0  
Net available borrowings for revolving loans under the Mosaic Credit Facility   $ 2,500,000,000 2,500,000,000    
Line of Credit Facility, Commitment Fee Amount     $ 3,400,000 $ 3,800,000 $ 3,800,000
v3.25.4
Financing Arrangements - Short-term Debt (Details)
$ in Millions
5 Months Ended 7 Months Ended 12 Months Ended
May 16, 2025
Dec. 31, 2025
USD ($)
Dec. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Jan. 07, 2020
USD ($)
Short-term Debt [Line Items]            
Short-term debt   $ 759.9 $ 759.9 $ 847.1    
Inventory Financing Arrangement, Maximum Amount           $ 625.0
Inventory Financing Arrangement, Maximum Borrowing Capacity, Percentage   0.90 0.90      
Proceeds From Inventory Financing Arrangements     $ 2,106.5 2,004.5 $ 601.4  
Structured accounts payable arrangements   $ 480.1 480.1 402.3    
Servicing Liability   $ 0.0 0.0 $ 0.0    
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage 0.15% 0.125%   0.15% 0.15%  
Mosaic Credit Facility            
Short-term Debt [Line Items]            
Line of Credit Facility, Commitment Fee Amount     $ 3.4 $ 3.8 $ 3.8  
Maximum            
Short-term Debt [Line Items]            
Duration Commercial Paper Note Program, Number Of Days     397 days      
Duration Inventory Financing Arrangement, Number Of Days     180 days      
Duration, Number of Days     193 days      
Minimum            
Short-term Debt [Line Items]            
Duration, Number of Days     119 days      
Receivable Purchasing Agreement [Member]            
Short-term Debt [Line Items]            
Receivable Purchasing Arrangements Sold     $ 668.9 430.7    
Inventory Financing Arrangement            
Short-term Debt [Line Items]            
Proceeds From Inventory Financing Arrangements     300.2 199.5    
Receivable Purchasing Agreement [Domain]            
Short-term Debt [Line Items]            
Short-term Debt, Maximum Amount Outstanding During Period     500.0      
Commercial Paper            
Short-term Debt [Line Items]            
Commerical Paper Note Program, Maximum Amount   $ 2,500.0 2,500.0      
Commercial Paper   $ 459.5 $ 459.5 $ 609.2    
Debt, Weighted Average Interest Rate   3.99% 3.99% 4.74%    
Remaining Average Term, Number of Days     10 days 10 days    
Mosaic Credit Facility            
Short-term Debt [Line Items]            
Short-term debt   $ 0.0 $ 0.0      
Structured Accounts Payable Arrangement            
Short-term Debt [Line Items]            
Financing Interest Expense     $ 21.9 $ 22.9    
v3.25.4
Financing Arrangements - Long-term debt - Stated value (Details 3) - USD ($)
5 Months Ended 7 Months Ended 12 Months Ended
May 16, 2025
Dec. 31, 2025
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Long-term Debt, Excluding Current Maturities          
Stated value of issued debt   $ 4,296,400,000 $ 4,296,400,000 $ 3,379,000,000  
Fair value adjustment of debt   3,200,000 3,200,000 3,700,000  
Debt Instrument, Unamortized Discount   5,600,000 5,600,000 5,100,000  
Total long term debt   4,294,000,000 4,294,000,000 3,377,600,000  
Stated value of current portion of issued debt   43,000,000.0 43,000,000.0 45,400,000  
Fair value adjustment of current portion of long-term debt   800,000 800,000 400,000  
Debt Instrument, Unamortized Discount, Current   700,000 700,000 500,000  
Carrying Value, current portion   43,100,000 43,100,000 45,300,000  
Stated value of noncurrent portion of issued debt   4,253,400,000 4,253,400,000 3,333,600,000  
Fair Market Value Adjustment, Total long term debt noncurrent   2,400,000 2,400,000 3,300,000  
Debt Instrument, Unamortized Discount, Noncurrent   4,900,000 4,900,000 4,600,000  
Total long-term debt, less current maturities   4,250,900,000 4,250,900,000 $ 3,332,300,000  
Letters of Credit Outstanding, Amount   $ 50,000,000.0 50,000,000.0    
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage 0.15% 0.125%   0.15% 0.15%
Servicing Liability   $ 0 0 $ 0  
The Mosaic Credit Facility amount of revolving credit loans $ 2,500,000,000        
Maturities of Long-term Debt          
2026   43,100,000 43,100,000    
2027   727,400,000 727,400,000    
2028   575,200,000 575,200,000    
2029   569,100,000 569,100,000    
2030   404,300,000 404,300,000    
Thereafter   1,974,900,000 1,974,900,000    
Total long term debt   4,294,000,000 4,294,000,000 3,377,600,000  
Structured Accounts Payable Arrangement          
Long-term Debt, Excluding Current Maturities          
Financing Interest Expense     21,900,000 22,900,000  
Mosaic Credit Facility          
Long-term Debt, Excluding Current Maturities          
Letters of Credit Outstanding, Amount   $ 0 0 0  
Line of Credit Facility, Commitment Fee Amount     $ 3,400,000 3,800,000 $ 3,800,000
Senior Notes | Senior Notes Due 2027 [Member]          
Stated interest rates:          
Stated interest rate   4.05% 4.05%    
Long term debt including current maturities   $ 700,000,000 $ 700,000,000    
Senior Notes | Senior Notes Due 2033          
Stated interest rates:          
Stated interest rate   5.45% 5.45%    
Long term debt including current maturities   $ 500,000,000 $ 500,000,000    
Senior Notes | Senior Notes Due 2043          
Stated interest rates:          
Stated interest rate   5.625% 5.625%    
Long term debt including current maturities   $ 600,000,000 $ 600,000,000    
Senior Notes | Senior Notes Due 2041          
Stated interest rates:          
Stated interest rate   4.875% 4.875%    
Long term debt including current maturities   $ 300,000,000 $ 300,000,000    
Senior Notes | Senior Notes Due 2028          
Stated interest rates:          
Stated interest rate   5.375% 5.375%    
Long term debt including current maturities   $ 400,000,000 $ 400,000,000    
Senior Notes | Senior Notes Due 2029          
Stated interest rates:          
Stated interest rate   4.35% 4.35%    
Long term debt including current maturities   $ 500,000,000 $ 500,000,000    
Senior Notes | Senior Notes Due 2030          
Stated interest rates:          
Stated interest rate   4.60% 4.60%    
Long term debt including current maturities   $ 400,000,000 $ 400,000,000    
Debentures | Debentures Due 2028          
Stated interest rates:          
Long term debt including current maturities   $ 147,100,000 $ 147,100,000    
Unsecured Notes          
Stated interest rates:          
Effective interest rate   5.26% 5.26%    
Long-term Debt, Excluding Current Maturities          
Stated value of issued debt   $ 3,400,000,000 $ 3,400,000,000 2,500,000,000  
Fair value adjustment of debt   0 0 0  
Debt Instrument, Unamortized Discount   5,600,000 5,600,000 5,100,000  
Total long term debt   3,394,400,000 3,394,400,000 2,494,900,000  
Maturities of Long-term Debt          
Total long term debt   $ 3,394,400,000 $ 3,394,400,000 2,494,900,000  
Unsecured Notes | Minimum          
Stated interest rates:          
Stated interest rate   4.05% 4.05%    
Unsecured Notes | Maximum          
Stated interest rates:          
Stated interest rate   5.63% 5.63%    
Unsecured Debentures          
Stated interest rates:          
Effective interest rate   7.19% 7.19%    
Long-term Debt, Excluding Current Maturities          
Stated value of issued debt   $ 147,100,000 $ 147,100,000 147,100,000  
Fair value adjustment of debt   200,000 200,000 300,000  
Debt Instrument, Unamortized Discount   0 0 0  
Total long term debt   147,300,000 147,300,000 147,400,000  
Maturities of Long-term Debt          
Total long term debt   $ 147,300,000 $ 147,300,000 147,400,000  
Unsecured Debentures | Maximum          
Stated interest rates:          
Stated interest rate   7.30% 7.30%    
Finance Leases          
Stated interest rates:          
Effective interest rate   7.82% 7.82%    
Long-term Debt, Excluding Current Maturities          
Stated value of issued debt   $ 176,000,000.0 $ 176,000,000.0 144,800,000  
Fair value adjustment of debt   0 0 0  
Debt Instrument, Unamortized Discount   0 0 0  
Total long term debt   176,000,000.0 176,000,000.0 144,800,000  
Maturities of Long-term Debt          
Total long term debt   $ 176,000,000.0 $ 176,000,000.0 144,800,000  
Finance Leases | Minimum          
Stated interest rates:          
Stated interest rate   0.77% 0.77%    
Finance Leases | Maximum          
Stated interest rates:          
Stated interest rate   13.02% 13.02%    
Other          
Stated interest rates:          
Effective interest rate   5.00% 5.00%    
Long-term Debt, Excluding Current Maturities          
Stated value of issued debt   $ 3,300,000 [1] $ 3,300,000 [1] 17,100,000  
Fair value adjustment of debt   3,000,000.0 3,000,000.0 3,400,000  
Debt Instrument, Unamortized Discount   0 0 0  
Total long term debt   6,300,000 [1] 6,300,000 [1] 20,500,000  
Maturities of Long-term Debt          
Total long term debt   $ 6,300,000 [1] $ 6,300,000 [1] 20,500,000  
Other | Minimum          
Stated interest rates:          
Stated interest rate   6.53% 6.53%    
Other | Maximum          
Stated interest rates:          
Stated interest rate   8.00% 8.00%    
Term Loan          
Stated interest rates:          
Effective interest rate   6.27% 6.27%    
Senior Loans | Senior Unsecured Term Loan Facility          
Long-term Debt, Excluding Current Maturities          
The Mosaic Credit Facility amount of revolving credit loans   $ 700,000,000 $ 700,000,000    
Long-Term Line of Credit   570,000,000 570,000,000    
Senior Unsecured Term Loan Facility          
Long-term Debt, Excluding Current Maturities          
Stated value of issued debt   570,000,000.0 570,000,000.0 570,000,000.0  
Fair value adjustment of debt   0 0 0  
Debt Instrument, Unamortized Discount   0 0 0  
Total long term debt   570,000,000.0 570,000,000.0 570,000,000.0  
Maturities of Long-term Debt          
Total long term debt   $ 570,000,000.0 $ 570,000,000.0 $ 570,000,000.0  
[1] Includes deferred financing fees related to our long-term debt.
v3.25.4
Marketable Securities Held in Trusts (Details)
$ in Millions
Dec. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
Aug. 31, 2016
USD ($)
Investments, Debt and Equity Securities [Abstract]      
Amount deposited by Mosaic into the RCRA Trusts     $ 630.0
Number Of Decades Remaining For Trust     3
Debt Securities, Available-for-sale, Fair Value to Amortized Cost [Abstract]      
Amortized Cost $ 740.6 $ 712.3  
Gross Unrealized Gains 7.3 1.5  
Gross Unrealized Losses (4.6) (18.6)  
Total debt securities 743.3 695.2  
Cash And Cash Equivalents | Fair Value Inputs Level 1      
Debt Securities, Available-for-sale, Fair Value to Amortized Cost [Abstract]      
Amortized Cost 4.8 3.1  
Gross Unrealized Gains 0.0 0.0  
Gross Unrealized Losses 0.0 0.0  
Total debt securities 4.8 3.1  
Corporate Debt Securities | Fair Value Inputs Level 2      
Debt Securities, Available-for-sale, Fair Value to Amortized Cost [Abstract]      
Amortized Cost 218.8 203.3  
Gross Unrealized Gains 3.4 0.8  
Gross Unrealized Losses (2.8) (6.8)  
Total debt securities 219.4 197.3  
Municipal Bonds | Fair Value Inputs Level 2      
Debt Securities, Available-for-sale, Fair Value to Amortized Cost [Abstract]      
Amortized Cost 208.3 210.8  
Gross Unrealized Gains 3.9 0.7  
Gross Unrealized Losses (1.3) (4.0)  
Total debt securities 210.9 207.5  
U.S. Government Bonds | Fair Value Inputs Level 2      
Debt Securities, Available-for-sale, Fair Value to Amortized Cost [Abstract]      
Amortized Cost 308.7 295.1  
Gross Unrealized Gains 0.0 0.0  
Gross Unrealized Losses (0.5) (7.8)  
Total debt securities $ 308.2 $ 287.3  
v3.25.4
Marketable Securities Held in Trusts - Continuous Loss Position (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]    
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months $ 337.2 $ 436.7
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss 0.7 10.2
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer 88.5 136.9
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss 3.9 8.4
Corporate Debt Securities    
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]    
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months 17.0 53.4
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss 0.2 0.7
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer 48.3 81.3
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss 2.7 6.1
Municipal Bonds    
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]    
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months 14.0 102.4
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss 0.0 1.7
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer 40.2 55.6
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss 1.2 2.3
U.S. Government Bonds    
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]    
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months 306.2 280.9
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss 0.5 7.8
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer 0.0 0.0
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss $ 0.0 $ 0.0
v3.25.4
Marketable Securities Held in Trusts - Maturity Dates and Realized Gain and Loss (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Debt Securities, Available-for-sale [Line Items]      
Debt Securities, Available-for-sale, Realized Gain $ 10.4 $ 17.5 $ 9.5
Debt Securities, Available-for-sale, Realized Loss (8.9) (15.1) $ (28.9)
Debt Securities, Available-for-sale, Fair Value, Fiscal Year Maturity [Abstract]      
Total debt securities 743.3 $ 695.2  
Debt Securities [Member]      
Debt Securities, Available-for-sale, Fair Value, Fiscal Year Maturity [Abstract]      
Due in one year or less 13.1    
Due after one year through five years 308.6    
Due after five years through ten years 373.8    
Due after ten years 43.0    
Total debt securities $ 738.5    
v3.25.4
Income Taxes Provision for Taxes (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Current:      
Federal $ 42.1 $ (11.7) $ 86.4
State 3.3 10.7 1.5
Non-U.S. 331.5 339.2 357.4
Total current 376.9 338.2 445.3
Noncurrent:      
Federal (1.9) (0.1) 0.3
State 9.4    
Non-U.S. (1.8) (10.8) (3.0)
Total noncurrent 5.7 (10.9) (2.7)
Deferred:      
Federal (1.4) (41.7) (35.4)
State 7.5 (29.0) (4.2)
Non-U.S. 251.1 (69.9) (226.0)
Total deferred 257.2 (140.6) (265.6)
Federal Tax Expense (Benefit) 38.8 (53.5) 51.3
State and Local Income Tax Expense (Benefit) 20.2 (18.3) (2.7)
Foreign Income Tax Expense (Benefit) 580.8 258.5 128.4
Provision for income taxes 639.8 186.7 177.0
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest 1,212.9 315.4 1,325.9
Income (Loss) from Continuing Operations before Income Taxes, Foreign $ 1,053.4 $ 873.2 $ 1,204.3
v3.25.4
Income Taxes Effective Tax Rate (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Income Tax [Line Items]        
Income (Loss) from Continuing Operations before Income Taxes, Domestic $ 159.5 $ (557.8) $ 121.6  
Income (Loss) from Continuing Operations before Income Taxes, Foreign 1,053.4 873.2 1,204.3  
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest $ 1,212.9 $ 315.4 $ 1,325.9  
Effective Income Tax Rate Continuing Operations Tax Rate Reconciliation        
Computed tax at the U.S. federal statutory rate 21.00% 21.00% 21.00%  
State and local income taxes, net of federal income tax benefit 1.20% (5.70%) 0.40%  
Percentage depletion in excess of basis (1.70%) (13.80%) (4.90%)  
Impact of non-U.S. earnings   23.80% 8.70%  
Change in valuation allowance 8.40% 13.00% (1.70%)  
Tax on dividends, deemed dividends, and GILTI   (1.00%) (2.50%)  
Effective tax rate 52.70% 59.20% 13.30%  
Deferred Tax Assets, Gross [Abstract]        
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount $ (336.7) $ (107.4) $ (512.0)  
Valuation allowance 1,866.0 1,529.3 1,421.9 $ 909.9
Effective Income Tax Rate Reconciliation, Amounts        
Effective Income Tax Rate Reconciliation, Other Adjustments, Amount   6.2 1.4  
Provision for income taxes $ 639.8 $ 186.7 $ 177.0  
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Other, Percent 0.90% (42.60%) (11.50%)  
Effective Income Tax Rate Reconciliation at Federal Statutory Income Tax Rate, Amount $ 254.7      
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Amount $ 14.5      
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Percent 0.00%      
Effective Income Tax Reconciliation, Nondeductible Expense, Withholding, Percent   0.136 0.063  
Effective Income Tax Rate Reconciliation, Tax Expense (Benefit), Share-Based Payment Arrangement, Amount   $ 4.0    
Effective Income Tax Reconciliation, Nondeductible Expense, Foreign Tax Credits, Percent   (0.126) (0.040)  
Effective Income Tax Reconciliation, Nondeductible Expense, Legislation Impacts, Percent   (0.057) (0.016)  
Effective Income Tax Reconciliation, Nondeductible Expense, Undistributed Earnings, Percent   0.330 0.022  
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount $ 101.8      
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Depletion, Amount (20.5)      
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Corporate expenses paid on behalf of foreign subsidiaries, Amount 15.5      
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Other, Amount 10.7      
Effective Income Tax Reconciliation, Nondeductible Expense, Tax on dividends, deemed dividends, and GILTI   0.162 0.007  
Effective Income Tax Reconciliation, Nondeductible expenses, Percent   0.200 0.002  
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount 0.0 $ 2.5    
Effective Income Tax Rate Reconciliation, Cross-Border, U.S Tax on Canadian Branches, Amount $ (95.5)      
Effective Income Tax Rate Reconciliation, GILTI, Percent 3.50%      
Effective Income Tax Rate Reconciliation, Tax Credit, Foreign, Amount $ (45.4)      
Effective Income Tax Rate Reconciliation, Cross-Border, Other, Amount $ 23.1      
Effective Income Tax Rate Reconciliation, Cross-Border, Other, Percent 1.90%      
Effective Income Tax Rate Reconciliation, Tax Credit, Other, Amount $ (7.3)      
Effective Income Tax Rate Reconciliation, Tax Credit, Other, Percent (0.60%)      
Effective Income Tax Rate Reconciliation, Tax Credit, Foreign, Percent (3.70%)      
Effective Income Tax Rate Reconciliation, GILTI, Amount $ 42.3      
Effective Income Tax Rate Reconciliation, Cross-Border, U.S Tax on Canadian Branches, Percent (7.90%)      
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Corporate expenses paid on behalf of foreign subsidiaries, Percent 1.30%      
Effective Income Tax Rate Reconciliation, Income Tax Expense on Undistributed Earnings, Amount     $ 29.3  
Effective Income Tax Rate Reconciliation, Net Expense Specific to Period, Amount $ 189.3 125.9 43.4  
Effective Income Tax Rate Reconciliation, Other Miscellaneous Expenses, Amount 4.0      
Effective Income Tax Rate Reconciliation, Tax Benefit, Share-Based Payment Arrangements, Amount 6.4      
Effective Income Tax Rate Reconciliation, Discrete Adjustment, Amount 54.2      
Brazil        
Deferred Tax Assets, Gross [Abstract]        
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount (229.6) (9.0) (12.7)  
Foreign Tax Jurisdiction        
Deferred Tax Assets, Gross [Abstract]        
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount   (3.1) (6.5)  
Effective Income Tax Rate Reconciliation, Amounts        
Effective Income Tax Rate Reconciliation, Other Reconciling Items, Amount $ 23.3 99.9    
Foreign Tax Jurisdiction | Brazil        
Effective Income Tax Rate Continuing Operations Tax Rate Reconciliation        
Change in valuation allowance 17.10%      
Effective Income Tax Rate Reconciliation, Amounts        
Effective Income Tax Rate Reconciliation, Other Adjustments, Amount $ 53.7      
Effective Income Tax Rate Reconciliation, Withholding Tax on Interest, Amount 18.7      
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount $ 207.3      
Effective Income Tax Rate Reconciliation, Other Adjustments, Percent 4.40%      
Effective Income Tax Rate Reconciliation, Withholding Tax on Interest, Percent 1.50%      
Effective Income Tax Rate Reconciliation, Disposition of Asset, Percent 1.80%      
Effective Income Tax Rate Reconciliation, Disposition of Asset, Amount $ 22.3      
Foreign Tax Jurisdiction | Canada        
Effective Income Tax Rate Continuing Operations Tax Rate Reconciliation        
State and local income taxes, net of federal income tax benefit 5.60%      
Effective Income Tax Rate Reconciliation, Amounts        
Effective Income Tax Rate Reconciliation, Other Adjustments, Amount $ (14.7)      
Effective Income Tax Rate Reconciliation, Withholding Tax on Dividends, Amount $ 14.1      
Effective Income Tax Rate Reconciliation, Statutory Tax Rate Differential, Percent (3.30%)      
Effective Income Tax Rate Reconciliation, Statutory Tax Rate Differential, Amount $ (40.1)      
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Amount $ 68.1      
Effective Income Tax Rate Reconciliation, Other Adjustments, Percent (1.20%)      
Effective Income Tax Rate Reconciliation, Withholding Tax on Dividends, Percent 1.20%      
Foreign Tax Jurisdiction | Peru        
Effective Income Tax Rate Continuing Operations Tax Rate Reconciliation        
Impact of non-U.S. earnings 0.60%      
Effective Income Tax Rate Reconciliation, Amounts        
Effective Income Tax Rate Reconciliation, Other Adjustments, Amount $ 15.4      
Effective Income Tax Rate Reconciliation, Statutory Tax Rate Differential, Percent 1.20%      
Effective Income Tax Rate Reconciliation, Statutory Tax Rate Differential, Amount $ 14.3      
Effective Income Tax Rate Reconciliation, Other Adjustments, Percent 1.30%      
Effective Income Tax Rate Reconciliation, Foreign Income Tax Rate Differential, Amount $ 7.7      
Effective Income Tax Rate Reconciliation, Tax Contingency, Percent (0.30%)      
Effective Income Tax Rate Reconciliation, Tax Contingency, Amount $ (3.1)      
Domestic Tax Jurisdiction        
Effective Income Tax Rate Reconciliation, Amounts        
Effective Income Tax Rate Reconciliation, Other Reconciling Items, Amount     38.1  
Effective Income Tax Rate Reconciliation, Other Adjustments, Amount $ 6.5 18.1    
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount     11.6  
Effective Income Tax Rate Reconciliation, Other Adjustments, Percent 0.50%      
Domestic Tax Jurisdiction | Carlsbad        
Effective Income Tax Rate Reconciliation, Amounts        
Effective Income Tax Rate Reconciliation, Other Adjustments, Amount $ (24.3)      
Effective Income Tax Rate Reconciliation, Other Adjustments, Percent (2.00%)      
US and non-US [Domain]        
Effective Income Tax Rate Reconciliation, Amounts        
Effective Income Tax Rate Reconciliation, Other Reconciling Items, Amount $ 2.3 7.1    
Brazil        
Effective Income Tax Rate Reconciliation, Amounts        
Effective Income Tax Rate Reconciliation, Other Adjustments, Amount 212.1 24.2 $ 24.4  
Foreign Tax Credit Carryforward        
Deferred Tax Assets, Gross [Abstract]        
Valuation allowance 1,200.0      
Tax Credit Carryforward, Amount 1,600.0      
Foreign Tax Credit Carryforward | Foreign Tax Jurisdiction        
Deferred Tax Assets, Gross [Abstract]        
Tax Credit Carryforward, Amount 320.8      
Anticipatory Foreign Tax Credit Carryforward        
Deferred Tax Assets, Gross [Abstract]        
Valuation allowance $ 202.5 $ 199.6    
v3.25.4
Income Taxes Paid (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income Tax Paid, by Individual Jurisdiction [Line Items]      
Income Tax Paid, Federal, after Refund Received $ (10.8) $ 0.0 $ 0.0
Income Tax Paid, State and Local, after Refund Received 7.0 0.0 0.0
Income taxes 321.3 337.0 385.6
Accounting Standards Update 2023-09      
Income Tax Paid, by Individual Jurisdiction [Line Items]      
Income Taxes Paid 0.0 337.0 385.6
Canada Federal      
Income Tax Paid, by Individual Jurisdiction [Line Items]      
Income Tax Paid, Foreign, after Refund Received 148.7 0.0 0.0
SASKATCHEWAN      
Income Tax Paid, by Individual Jurisdiction [Line Items]      
Income Tax Paid, Foreign, after Refund Received 80.5 0.0 0.0
Canada Other Provincial      
Income Tax Paid, by Individual Jurisdiction [Line Items]      
Income Tax Paid, Foreign, after Refund Received 4.3 0.0 0.0
Peru      
Income Tax Paid, by Individual Jurisdiction [Line Items]      
Income Tax Paid, Foreign, after Refund Received 53.7 0.0 0.0
Brazil      
Income Tax Paid, by Individual Jurisdiction [Line Items]      
Income Tax Paid, Foreign, after Refund Received 19.5 0.0 0.0
Foreign Tax Jurisdiction, Other      
Income Tax Paid, by Individual Jurisdiction [Line Items]      
Income Tax Paid, Foreign, after Refund Received $ 18.4 $ 0.0 $ 0.0
v3.25.4
Income Taxes Deferred Tax (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Deferred Tax Liabilities, Gross [Abstract]        
Depreciation and amortization $ 601.9 $ 614.5    
Depletion 593.5 573.4    
Partnership tax basis differences 63.5 80.6    
Undistributed earnings of non-U.S. subsidiaries 47.4 84.4    
Other liabilities 61.8 78.6    
Total deferred tax liabilities 1,368.1 1,431.5    
Deferred Tax Assets, Gross [Abstract]        
Capital loss carryforwards 12.3 15.0    
Foreign tax credit carryforwards 1,553.2 1,431.8    
Net operating loss carryforwards 479.8 450.6    
Pension plans and other benefits 17.7 13.9    
Asset retirement obligations 538.2 547.4    
Disallowed interest expense under 163(j) 24.7 20.3    
Other assets 418.9 497.3    
Subtotal 3,044.8 2,976.3    
Net of valuation allowance        
Valuation allowance 1,866.0 1,529.3 $ 1,421.9 $ 909.9
Deferred Tax Assets, Net of Valuation Allowance 1,178.8 1,447.0    
Deferred Tax Liabilities and Assets [Line Items]        
Deferred Tax Assets, Net, Total   (15.5)    
Deferred income taxes 189.3      
Anticipatory Foreign Tax Credit Carryforward        
Net of valuation allowance        
Valuation allowance 202.5 199.6    
Deferred Tax Liabilities and Assets [Line Items]        
Deferred Tax Assets Foreign Tax Credits Netted Against Related Deferred Tax Liabilities $ 202.5 $ 199.6    
v3.25.4
Income Taxes Carryforwards (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Tax Credit Carryforward [Line Items]        
Valuation allowance $ 1,866.0 $ 1,529.3 $ 1,421.9 $ 909.9
Net Operating Loss Carryforward        
Tax Credit Carryforward [Line Items]        
Net operating loss 1,800.0      
Foreign Tax Credit Carryforward        
Tax Credit Carryforward [Line Items]        
Tax Credit Carryforward, Amount 1,600.0      
Valuation allowance 1,200.0      
Deferred Tax Assets, Tax Credit Carryforwards 261.0      
Foreign Tax Credit Carryforward | Tax Year 2026 Or Earlier        
Tax Credit Carryforward [Line Items]        
Tax Credit Carryforward, Amount 228.1      
Foreign Tax Credit Carryforward | Tax Year 2029 Or Earlier        
Tax Credit Carryforward [Line Items]        
Tax Credit Carryforward, Amount 16.2      
Foreign Tax Credit Carryforward | Tax Year 2030 Or Earlier        
Tax Credit Carryforward [Line Items]        
Tax Credit Carryforward, Amount 14.7      
Foreign Tax Credit Carryforward | Tax Year 2033 or Earlier        
Tax Credit Carryforward [Line Items]        
Tax Credit Carryforward, Amount 31.1      
Foreign Tax Credit Carryforward | Tax Year 2035 or Earlier        
Tax Credit Carryforward [Line Items]        
Tax Credit Carryforward, Amount 30.7      
Capital Loss Carryforward        
Tax Credit Carryforward [Line Items]        
Net operating loss $ 51.9      
Foreign Tax Jurisdiction        
Tax Credit Carryforward [Line Items]        
Tax Credit Carryforward, Limitations on Use 30 percent      
Foreign Tax Jurisdiction | Net Operating Loss Carryforward        
Tax Credit Carryforward [Line Items]        
Net operating loss $ 1,200.0      
Non-US        
Tax Credit Carryforward [Line Items]        
General Business Deferred Tax Assets 3.6      
Foreign Tax Jurisdiction | Foreign Tax Credit Carryforward        
Tax Credit Carryforward [Line Items]        
Tax Credit Carryforward, Amount $ 320.8      
v3.25.4
Income Taxes Income Tax Valuation Allowance (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Valuation Allowance [Line Items]      
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount $ 336.7 $ 107.4 $ 512.0
Deferred Tax Assets, Valuation Allowance, Net 1,866.0 1,529.3 1,421.9
Tax Credit Carryforward, Valuation Allowance 110.8 105.4 531.0
Brazil      
Valuation Allowance [Line Items]      
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount $ 229.6 9.0 12.7
Foreign Tax Jurisdiction      
Valuation Allowance [Line Items]      
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount   $ 3.1 $ 6.5
Valuation Allowance, Deferred Tax Asset, Explanation of Change 1.5 million 2.8 million 0.2 million
Foreign Tax Jurisdiction | Peru      
Valuation Allowance [Line Items]      
Valuation Allowance, Deferred Tax Asset, Explanation of Change 5.3 million    
Foreign Tax Jurisdiction | Canada      
Valuation Allowance [Line Items]      
Valuation Allowance, Deferred Tax Asset, Explanation of Change 6.0 million    
Domestic Tax Jurisdiction      
Valuation Allowance [Line Items]      
Operating Loss Carryforwards, Valuation Allowance $ 1.5 $ 11.3  
v3.25.4
Income Taxes Uncertain Tax Provisions (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Changes in unrecognized tax benefits for all jurisdictions were as follows:      
Gross unrecognized tax benefits, beginning of period $ 14.2 $ 25.8 $ 25.2
Unrecognized Tax Benefits, Increase Resulting from Prior Period Tax Positions 0.0 0.0 0.9
Current year tax positions 1,401.1 1.6 3.0
Prior year tax positions - decreases (2.3) (11.5) (3.8)
Unrecognized Tax Benefits, Increase Resulting from Foreign Currency Translation   (1.7)  
Unrecognized Tax Benefits, Decrease Resulting from Foreign Currency Translation 0.5   0.5
Gross unrecognized tax benefits, end of period 1,413.5 14.2 $ 25.8
Income Tax Contingency [Line Items]      
The amount of unrecognized tax benefits that, if recognized, would affect our effective tax rate in future periods 1,400.0    
Accrued interest and penalties related to unrecognized tax benefits, which are reflected in other noncurrent liabilities 6.0 $ 5.4  
Non-US      
Income Tax Contingency [Line Items]      
Prior year tax positions - increases $ 1,400.0    
v3.25.4
Asset Retirement Obligations (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Asset Retirement Obligation Disclosure [Abstract]      
Asset retirement obligations, beginning of period $ 2,572.2 $ 2,213.4  
Liabilities incurred 22.7 29.8  
Liabilities settled (288.9) (253.8)  
Accretion expense 129.7 111.2 $ 96.1
Revisions in estimated cash flows 190.5 541.4  
Foreign currency translation 37.8 (69.8)  
AROs acquired in Vale S.A. acquisition (62.1) 0.0  
Asset retirement obligations, end of period 2,601.9 2,572.2 $ 2,213.4
Less current portion 271.3 352.8  
Asset retirement obligations $ 2,330.6 $ 2,219.4  
v3.25.4
Asset Retirement Obligations Contingencies - Gypstack (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Loss Contingencies [Line Items]      
Discounted asset retirement obligation $ 2,601.9 $ 2,572.2 $ 2,213.4
Surety Bonds Outstanding Delivered To EPA 337.6    
Unfavorable Regulatory Action      
Loss Contingencies [Line Items]      
Discounted asset retirement obligation 1,500.0    
2015 Consent Decrees With EPA | Unfavorable Regulatory Action      
Loss Contingencies [Line Items]      
Asset retirement obligations, undiscounted 2,300.0    
Discounted asset retirement obligation $ 1,100.0    
v3.25.4
Asset Retirement Obligations Other Commitments (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Jul. 27, 2018
Other Commitments [Line Items]        
Surety Bonds Outstanding Delivered To EPA $ 337.6      
Assets held-in-trust, current 2,601.9 $ 2,572.2 $ 2,213.4  
Asset retirement obligations 2,330.6 2,219.4    
Bonnie Facility Trust        
Other Commitments [Line Items]        
Asset retirement obligations       $ 21.0
Plant City and Bonnie Facilities [Member]        
Other Commitments [Line Items]        
Asset retirement obligations $ 387.9 $ 368.7    
v3.25.4
Derivative Instruments and Hedging Activities - Gross Assets and Liabilities Positions (Details)
MMBTU in Millions, $ in Millions
Dec. 31, 2025
USD ($)
MMBTU
Dec. 31, 2024
USD ($)
MMBTU
Derivative Instruments and Hedging Activities Disclosure [Abstract]    
Gross asset position $ 3.3 $ 3.1
Gross liability position $ 2.7 $ 87.8
Interest Rate Swap Contract    
Derivative    
Number of Interest Rate Derivatives Held 0 0
Foreign Exchange Contract    
Derivative    
Derivative, notional amount $ 433.3 $ 1,377.3
Commodity Contract (MMbtu)    
Derivative    
Derivative, nonmonetary notional amount | MMBTU 0.9 2.5
v3.25.4
Derivative Instruments and Hedging Activities - Credit Risk Related Contingent Features (Details) - USD ($)
Dec. 31, 2025
Dec. 31, 2024
Derivative, Credit Risk Related Contingent Features    
The aggregate fair value of all derivative instruments with credit-risk-related contingent features that were in a liability position $ 600,000 $ 58,100,000
Required collateral assets to be posted if the credit-risk contingent features of these underlying agreements were triggered. 500,000  
Collateral Already Posted, Aggregate Fair Value $ 0  
v3.25.4
Fair Value Measurements (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Fair Value, Assets, Liabilities and Stockholders' Equity Measured on Recurring Basis    
Gross asset position $ 3.3 $ 3.1
Gross liability position $ 2.7 87.8
Fair Value, Measurements, Recurring | Foreign Exchange Contract    
Fair Value, Assets, Liabilities and Stockholders' Equity Measured on Recurring Basis    
Average maturity of foreign currency derivative instruments 18 months  
Gross asset position $ 3.3 3.1
Gross liability position 2.3 86.1
Fair Value, Measurements, Recurring | Commodity Contract    
Fair Value, Assets, Liabilities and Stockholders' Equity Measured on Recurring Basis    
Gross asset position 0.0 0.0
Gross liability position $ 0.4 $ 1.7
v3.25.4
Fair Value Measurements (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Fair Value, Balance Sheet Grouping, Financial Statement Captions    
Equity securities $ 1,848.2 $ 1,533.4
Carrying amount    
Fair Value, Balance Sheet Grouping, Financial Statement Captions    
Cash and cash equivalents 276.6 272.8
Accounts receivable 1,078.6 1,113.3
Equity securities 1,804.2 1,486.8
Accounts payable 1,171.9 1,156.5
Structured accounts payable arrangements 480.1 402.3
Short-term debt 759.9 847.1
Long-term debt, including current portion 4,294.0 3,377.6
Fair value    
Fair Value, Balance Sheet Grouping, Financial Statement Captions    
Cash and cash equivalents 276.6 272.8
Accounts receivable 1,078.6 1,113.3
Equity securities 1,804.2 1,486.8
Accounts payable 1,171.9 1,156.5
Structured accounts payable arrangements 480.1 402.3
Short-term debt 759.9 847.1
Long-term debt, including current portion $ 4,311.0 $ 3,324.1
v3.25.4
Fair Value Measurements (Details)
$ in Millions
Dec. 31, 2025
USD ($)
Senior Unsecured Term Loan Facility | Senior Loans  
Debt Instrument  
Long-Term Line of Credit $ 570.0
v3.25.4
Pension Plans and Other Benefits - Changes in Defined Benefit Obligations and Plan Assets (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Change in projected benefit obligation:      
Benefit obligation at beginning of period $ 114.6    
Projected benefit obligation at end of period   $ 114.6  
Change in plan assets:      
Fair value at beginning of period 146.3    
Company contribution (0.3) (0.4)  
Fair value at end of period 151.4 146.3  
Amounts recognized in the consolidated balance sheets:      
Noncurrent liabilities (102.8) (91.6)  
Amounts recognized in accumulated other comprehensive (income) loss      
Prior service cost (8.2) (8.8)  
Accumulated benefit obligation for the defined benefit pension plans 122.6 114.6  
Pension Settlement $ 0.0 0.0 $ (42.4)
Fixed Income Securities      
Amounts recognized in accumulated other comprehensive (income) loss      
Allocation percentage 85.00%    
Equity Securities      
Amounts recognized in accumulated other comprehensive (income) loss      
Allocation percentage 10.00%    
Cash      
Amounts recognized in accumulated other comprehensive (income) loss      
Allocation percentage 5.00%    
North American Pension Plan      
Change in projected benefit obligation:      
Benefit obligation at beginning of period $ 114.6 119.6  
Defined Benefit Plan, Service Cost 2.7 3.0  
Defined Benefit Plan, Interest Cost 5.2 5.5  
Defined Benefit Plan, Benefit Obligation, Actuarial Gain (Loss) (3.7) 0.2  
Defined Benefit Plan, Benefit Obligation, Foreign Currency Translation Gain (Loss) 5.5 (9.4)  
Benefits paid and transfers (3.2) (4.3)  
Defined Benefit Plan, Benefit Obligation, Increase (Decrease) for Plan Amendment 1.5 0.0  
Projected benefit obligation at end of period 122.6 114.6 119.6
Change in plan assets:      
Fair value at beginning of period 146.3 157.1  
Currency fluctuations 6.9 (12.2)  
Actual return 1.1 12.8  
Company contribution (0.4) (7.1)  
Benefits paid and transfers (3.3) (4.3)  
Fair value at end of period 151.4 146.3 $ 157.1
Funded status of the plans as of the end of period 28.8 31.7  
Amounts recognized in the consolidated balance sheets:      
Noncurrent assets 34.6 37.4  
Current liabilities (0.4) (0.4)  
Noncurrent liabilities (5.4) (5.3)  
Amounts recognized in accumulated other comprehensive (income) loss      
Prior service cost 12.2 11.9  
Actuarial loss 17.3 $ 14.8  
Pension Settlement (42.4)    
2020 4.7    
The amount of estimated cash contribution to the defined benefit pension plans needed next fiscal year to meet minimum funding requirements $ 1.0    
v3.25.4
Pension Plans and Other Benefits - Defined Contribution Plans (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]      
Mosaic's matching rate of first tier of employee's compensation deferrals under the "Investment Plan" 100.00%    
Maximum rate of first tier of deferred compensation elected by employees under the Company's "Investment Plan" 3.00%    
Mosaic's matching rate of second tier of employee's compensation deferrals under the "Investment Plan" 50.00%    
Maximum rate of second tier of deferred compensation elected by employees under the Company's "Investment Plan" 3.00%    
Expense attributable to the Company's Investment Plan and Savings Plan $ 63.9 $ 60.8 $ 61.7
v3.25.4
Pension Plans and Other Benefits - Postretirement Medical Benefits (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Defined Benefit Plan, Benefit Obligation   $ 114.6  
Company contribution $ 0.3 0.4  
Liability, Defined Benefit Plan, Noncurrent (102.8) (91.6)  
Prior service cost (8.2) (8.8)  
North American Other Postretirement Benefits Plan      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Defined Benefit Plan, Benefit Obligation 20.3 20.6  
Brazil Other Postretirement Benefit Plans      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Defined Benefit Plan, Interest Cost 6.6 7.4  
Defined Benefit Plan, Benefit Obligation, Actuarial Gain (Loss) (1.8) (11.2)  
Defined Benefit Plan, Benefit Obligation, Foreign Currency Translation Gain (Loss) 7.2 (15.2)  
Defined Benefit Plan, Benefit Obligation, Benefits Paid (1.4) (1.1)  
Defined Benefit Plan, Benefit Obligation 65.2 54.3 $ 74.4
Company contribution 1.4 1.1  
Defined Benefit Plan, Plan Assets, Benefits Paid (1.4) (1.1)  
Funded status of the plans as of the end of period (65.2) (54.3)  
Liability, Defined Benefit Plan, Current (1.4) (1.4)  
Liability, Defined Benefit Plan, Noncurrent (63.8) (52.9)  
Actuarial loss $ (2.5) $ (0.6)  
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate 11.70% 9.95%  
Defined Benefit Plan, Benefit Obligation, Period Increase (Decrease) $ 0.3 $ 0.0  
Minimum | North American Other Postretirement Benefits Plan      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Defined Benefit Plan, Expected Future Employer Contributions, Next Fiscal Year $ 1.9    
v3.25.4
Accumulated Other Comprehensive Income (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Accumulated Other Comprehensive Income (Loss) [Line Items]        
Net Gain (Loss) on Interest Rate Swaps Qualifying as Hedge, After Reclassification, Before Tax $ (0.1) $ (0.1) $ 1.4  
Other Comprehensive Income (Loss), Before Tax 322.5 (481.5) 215.5  
Other Comprehensive Income (Loss), Tax (2.9) (18.1) (16.2)  
Net Gain (Loss) on Marketable Securities Held in Trust, After Reclassification and Tax 15.3 (14.8) 23.7  
Other Comprehensive Income (Loss), Net of Tax 319.6 (499.6) 199.3  
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Noncontrolling Interest (2.5) 5.5 (2.0)  
Stockholders' Equity Attributable to Parent 12,084.9 11,482.4    
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent        
Accumulated Other Comprehensive Income (Loss) [Line Items]        
Net Unrealized Holding Gain (Loss) on Marketable Securities Held in Trust, Before Tax 19.8 (19.6) 30.6  
Net Gain (Loss) on Marketable Securities Held in Trust, Tax (4.5) 4.8 (6.9)  
Net Gain (Loss) on Marketable Securities Held in Trust, After Reclassification and Tax 15.3 (14.8) 23.7  
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Noncontrolling Interest 0.0 0.0 0.0  
Stockholders' Equity Attributable to Parent 0.7 (14.6) 0.2 $ (23.5)
AOCI, Derivative Qualifying as Hedge, Excluded Component, Parent        
Accumulated Other Comprehensive Income (Loss) [Line Items]        
Net Gain (Loss) on Interest Rate Swaps Qualifying as Hedge, After Reclassification, Before Tax (0.1) (0.1) 1.8  
Other Comprehensive Income (Loss), Derivative, Excluded Component, Increase (Decrease), after Adjustments, Tax 0.0 0.0 0.4  
Net Gain (Loss) on Interest Rate Swaps Qualifying as Hedge, After Reclassification and Tax (0.1) (0.1) 1.4  
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Noncontrolling Interest 0.0 0.0 0.0  
Stockholders' Equity Attributable to Parent 7.9 8.0 8.1 6.7
Accumulated Defined Benefit Plans Adjustment Attributable to Parent        
Accumulated Other Comprehensive Income (Loss) [Line Items]        
Net Actuarial Gain (Loss), After Reclassification, Before Tax (4.6) 16.8 31.1  
Other Comprehensive Income (Loss), Tax 1.9 (5.9) (11.0)  
Net Actuarial Gain (Loss), After Reclassification and Tax (2.7) 10.9 20.1  
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Noncontrolling Interest 0.0 0.0 0.0  
Stockholders' Equity Attributable to Parent (24.8) (22.1) (33.0) (53.1)
Accumulated Foreign Currency Adjustment Attributable to Parent        
Accumulated Other Comprehensive Income (Loss) [Line Items]        
Foreign Currency Translation Gain (Loss), Before Tax 307.4 (478.6) 152.0  
Foreign Currency Translation Adjustment, Tax (Expense) Benefit (0.3) (17.0) 2.1  
Foreign Currency Translation Gain (Loss), Net of Tax 307.1 (495.6) 154.1  
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Noncontrolling Interest (2.5) 5.5 (2.0)  
Stockholders' Equity Attributable to Parent (2,115.7) (2,420.3) (1,930.2) (2,082.3)
Accumulated Other Comprehensive Income (Loss)        
Accumulated Other Comprehensive Income (Loss) [Line Items]        
Stockholders' Equity Attributable to Parent $ (2,131.9) $ (2,449.0) $ (1,954.9) $ (2,152.2)
v3.25.4
Share Repurchases (Details) - USD ($)
$ / shares in Units, $ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Equity, Class of Treasury Stock [Line Items]      
Stock Repurchased During Period, Value   $ 237.5 $ 754.4
Stock Repurchased During Period, Shares 0 7,944,507  
Shares Acquired, Average Cost Per Share   $ 29.63  
Share Repurchase Program 2022      
Equity, Class of Treasury Stock [Line Items]      
Share Repurchase Program, Authorized, Amount $ 3,000.0    
Stock Repurchased During Period, Value   $ 235.4  
v3.25.4
Share-based Payments (Details)
shares in Millions
Dec. 31, 2025
shares
2023 Stock and Incentive Plan  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Number of shares and share options authorized under plan 18
2014 Mosaic Stock and Incentive Plan  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Number of shares and share options authorized under plan 25
v3.25.4
Share-based Payments, Stock Options (Details 2) - USD ($)
$ / shares in Units, $ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Shares (in millions)        
Granted (in shares)     0  
Exercised (in shares) (30,700,000) (31,800,000)    
Stock Options        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Number of years the employee stock options vest in equal annual installments 3 years      
Assumptions used to calculate the fair value of stock options in each period are noted in the following table. A summary of the assumptions used to estimate the fair value of stock option awards is as follows:        
Expected volatility (percent)       35.35%
Expected dividend yield (percent)       1.97%
Expected term (in years)       7 years
Risk-free interest rate (percent)       2.34%
Shares (in millions)        
Number of option shares outstanding at beginning of period (in shares) 500,000      
Granted (in shares) 0 0    
Exercised (in shares) (100,000)      
Cancelled (in shares) (100,000)      
Number of option shares outstanding at end of period (in shares) 300,000 500,000    
Number of shares issuable under options exercisable at end of period (in shares) 300,000      
Weighted Average Exercise Price        
Weighted average exercise price- options outstanding at beginning of period (in usd per share) $ 32.68      
Granted (in usd per share) 0      
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price 28.49      
Cancelled (in usd per share) 50.43      
Weighted Average Exercise Price- options outstanding at end of period (in usd per share) 29.80 $ 32.68    
Weighted Average Exercise Price- options exercisable at end of period (in usd per share) $ 29.80      
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]        
Weighted Average Remaining Contractual Term (Years) - options outstanding at end of fiscal year 10 months 6 days      
Weighted Average Remaining Contractual Term (Years) - options exercisable as of the end of the fiscal year 10 months 6 days      
Aggregate Intrinsic Value - options outstanding at end of fiscal year $ 0.0      
Aggregate Intrinsic Value - options exercisable as of the end of the fiscal year $ 0.0      
v3.25.4
Share-based Payments, RSU's (Details 3) - $ / shares
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Shares (in millions)      
Granted (in shares) 818,382 496,367 1,206,263
Restricted Stock Units (RSUs)      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period 3 years    
Shares (in millions)      
Number of stock units outstanding at beginning of period (shares) 1,600,000    
Granted (in shares) 1,000,000.0    
Issued and canceled (shares) (400,000)    
Number of stock units outstanding at end of period (shares) 2,200,000 1,600,000  
Weighted Average Grant Date Fair Value      
Weighted-average grant date fair value per share - stock unit awards outstanding, beginning of period (in usd per share) $ 41.61    
Granted (in usd per share) 23.87    
Issued and canceled (in usd per share) 49.48    
Weighted-average grant date fair value per share - stock unit awards outstanding, end of period (in usd per share) $ 31.74 $ 41.61  
v3.25.4
Share-based Payments, PSU's (Details 4) - USD ($)
$ / shares in Units, $ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Shares (in millions)      
Granted (in shares) 818,382 496,367 1,206,263
Weighted Average Grant Date Fair Value      
Share-based compensation expense, net of forfeitures, in the fiscal year $ 33.7 $ 20.2 $ 37.8
The tax benefit related to share-based compensation expense in the fiscal year 5.1 1.0 9.0
Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized $ 1.5    
The average weighted-average period the unrecognized compensation cost will be recognized (years) 1 year    
Proceeds from Stock Options Exercised $ 0.6 0.0 0.0
Tax benefit for tax deductions from options during the fiscal year $ 6.9 $ 4.1 $ 7.9
TSR Performance Units      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Number Of Trading Days To Calculate Weighted Average Trading Price 30 days    
Minimum retirement age for performance units to vest 60 years    
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period 3 years    
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period 3 years    
Expected volatility (percent) 39.71% 40.95% 48.33%
Expected dividend yield (percent) 3.64% 2.59% 1.52%
Expected term (in years) 3 years 3 years 3 years
Risk-free interest rate (percent) 3.90% 4.48% 4.52%
Shares (in millions)      
Granted (in shares) 818,382 496,367 1,206,283
Weighted Average Grant Date Fair Value      
Weighted Average Grant Date Fair Value Per Share, Granted (in usd per share) $ 21.3 $ 31.02 $ 50.56
Performance Units Cash Settled      
Shares (in millions)      
Number of stock units outstanding at beginning of period (shares) 463,410    
Granted (in shares) 193,384 241,189 354,500
Number of stock units outstanding at end of period (shares) 593,968 463,410  
Performance Units      
Shares (in millions)      
Number of stock units outstanding at beginning of period (shares) 1,100,000    
Granted (in shares) 800,000    
Issued and canceled (shares) (200,000)    
Number of stock units outstanding at end of period (shares) 1,700,000 1,100,000  
Weighted Average Grant Date Fair Value      
Weighted-average grant date fair value per share - stock unit awards outstanding, beginning of period (in usd per share) $ 44.15    
Weighted Average Grant Date Fair Value Per Share, Granted (in usd per share) 21.30    
Issued and canceled (in usd per share) 54.16    
Weighted-average grant date fair value per share - stock unit awards outstanding, end of period (in usd per share) $ 31.26 $ 44.15  
v3.25.4
Commitments (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Unrecorded Unconditional Purchase Obligation, Fiscal Year Maturity      
2026 $ 4,887.8    
2027 2,245.4    
2028 769.5    
2029 449.8    
2030 234.6    
Subsequent years 24.8    
Total 8,611.9    
Purchases made for the fiscal period were as follows:      
Purchases made under long-term commitments during the reporting period 2,700.0 $ 2,100.0 $ 3,000.0
Surety Bonds Outstanding      
Total amount of surety bonds outstanding 829.9    
Surety bonds outstanding for mining reclamation obligations 428.2    
Surety Bonds Outstanding Delivered To EPA 337.6    
Surety bonds outstanding for other than mining reclamation obligations $ 64.1    
v3.25.4
Contingencies (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Applicability, Impact and Conclusion of Environmental Loss Contingencies    
Environmental contingency accrual $ 192.2 $ 197.5
Loss Contingencies [Line Items]    
Environmental contingency accrual $ 192.2 197.5
Environmental Loss Contingency, Statement of Financial Position [Extensible Enumeration] Accrued liabilities  
Accrued Environmental Loss Contingencies, Current $ 87.9 90.8
Environmental Loss Contingency, Current, Statement of Financial Position [Extensible Enumeration] Accrued liabilities  
Accrued Environmental Loss Contingencies, Noncurrent $ 104.3 $ 106.7
Environmental Loss Contingency, Noncurrent, Statement of Financial Position [Extensible Enumeration] Other noncurrent liabilities  
New Wales Phase II East Stack    
Loss Contingencies [Line Items]    
Estimated loss contingency $ 3.4  
Maximum funding of environmental projects 3.4  
New Wales Phase II West Stack    
Loss Contingencies [Line Items]    
Estimated loss contingency 65.1  
Maximum funding of environmental projects 65.1  
Brazilian subsidiary judicial and administrative proceedings    
Loss Contingencies [Line Items]    
Estimated loss contingency 69.4  
Maximum funding of environmental projects 69.4  
Brazilian subsidiary labor claims    
Loss Contingencies [Line Items]    
Loss Contingency Accrual 50.3  
Maximum | Brazilian subsidiary judicial and administrative proceedings    
Loss Contingencies [Line Items]    
Estimated loss contingency 531.8  
Maximum funding of environmental projects 531.8  
Maximum | Brazilian Non Income Tax Proceedings    
Loss Contingencies [Line Items]    
Estimated loss contingency 751.9  
Maximum funding of environmental projects 751.9  
Maximum | Brazilian Non Income Tax Proceedings | Indemnification Agreement    
Loss Contingencies [Line Items]    
Estimated loss contingency 200.1  
Maximum funding of environmental projects 200.1  
Maximum | Brazilian Non Income Tax Proceedings | PIS And Cofins cases    
Loss Contingencies [Line Items]    
Estimated loss contingency 431.4  
Maximum funding of environmental projects 431.4  
Maximum | Brazilian subsidiary labor claims    
Loss Contingencies [Line Items]    
Estimated loss contingency 387.6  
Maximum funding of environmental projects $ 387.6  
v3.25.4
Related Party (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Related Party Transaction [Line Items]      
Percentage Of Total Production Expected To Market     25.00%
Net sales $ 12,052.4 $ 11,122.8 $ 13,696.1
Related Party      
Related Party Transaction [Line Items]      
Other Receivables 10.0 46.5  
Net sales 1,274.9 931.0 1,321.0
Related Parties Amount in Cost of Sales $ 1,015.6 $ 1,082.7 $ 1,465.2
v3.25.4
Business Segments (Details)
$ in Millions
12 Months Ended
Dec. 31, 2025
USD ($)
financialinstitution
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Segment Reporting Information [Line Items]      
Net sales to external customers $ 12,052.4 $ 11,122.8 $ 13,696.1
Intersegment net sales 0.0 0.0 0.0
Net sales 12,052.4 11,122.8 13,696.1
Cost of goods sold [1] 10,150.5 9,610.9 11,485.5
Gross margin 1,901.9 1,511.9 2,210.6
Canadian resource taxes 272.8 232.2 403.4
Gross margin (excluding Canadian resource taxes) 2,174.7 1,744.1 2,614.0
Selling, general and administrative expenses [2] 533.9 496.9 500.5
Loss (gain) on assets sold and to be sold 157.3 0.0 (56.5)
Impairment of goodwill 99.9 0.0 0.0
Other operating expenses [3] 289.3 393.5 428.5
Operating (loss) earnings 821.5 621.5 [3] 1,338.1
Gain on sale of equity investment 0.0 522.2 0.0
Capital expenditures 1,359.4 1,251.8 1,402.4
Depreciation, depletion and amortization expense 1,049.9 1,025.5 960.6
Equity in net earnings of nonconsolidated companies 2.3 73.3 60.3
Assets $ 24,480.1 22,924.0 23,032.8
Number of Reportable Segments | financialinstitution 3    
Phosphates Segment      
Segment Reporting Information [Line Items]      
Net sales to external customers $ 3,877.8 3,793.3 3,894.5
Intersegment net sales 698.7 725.5 829.8
Net sales 4,576.5 4,518.8 4,724.3
Cost of goods sold [1] 4,139.2 3,924.8 4,022.2
Gross margin 437.3 594.0 702.1
Canadian resource taxes 0.0 0.0 0.0
Gross margin (excluding Canadian resource taxes) 437.3 594.0 702.1
Selling, general and administrative expenses [2] 45.8 45.3 42.0
Loss (gain) on assets sold and to be sold 0.0   0.0
Impairment of goodwill 0.0    
Other operating expenses [3] 256.0 323.7 284.3
Operating (loss) earnings 135.4 225.1 [3] 375.7
Gain on sale of equity investment   522.2  
Segment, Expenditure, Addition to Long-Lived Assets 848.9 660.7 625.9
Depreciation, depletion and amortization expense 500.7 505.6 485.7
Equity in net earnings of nonconsolidated companies 0.0 70.9 56.4
Assets 10,239.0 9,419.5 9,494.9
Potash Segment      
Segment Reporting Information [Line Items]      
Net sales to external customers 2,658.7 2,371.0 3,203.1
Intersegment net sales 3.0 17.7 30.5
Net sales 2,661.7 2,388.7 3,233.6
Cost of goods sold [1] 1,791.7 1,745.5 2,018.6
Gross margin 870.0 643.2 1,215.0
Canadian resource taxes 272.8 232.2 403.4
Gross margin (excluding Canadian resource taxes) 1,142.8 875.4 1,618.4
Selling, general and administrative expenses [2] 30.1 31.1 30.0
Loss (gain) on assets sold and to be sold 185.0   0.0
Impairment of goodwill 3.6    
Other operating expenses [3] 13.6 7.7 33.5
Operating (loss) earnings 637.7 604.5 [3] 1,151.5
Gain on sale of equity investment   0.0  
Segment, Expenditure, Addition to Long-Lived Assets 243.5 297.5 357.4
Depreciation, depletion and amortization expense 336.5 336.5 299.0
Equity in net earnings of nonconsolidated companies 0.0 0.0 0.0
Assets 6,610.6 6,480.6 6,914.7
Mosaic Fertilizantes      
Segment Reporting Information [Line Items]      
Net sales to external customers 4,847.3 4,422.3 5,684.7
Intersegment net sales 0.0 0.0 0.0
Net sales 4,847.3 4,422.3 5,684.7
Cost of goods sold [1] 4,355.3 4,015.7 5,473.1
Gross margin 492.0 406.6 211.6
Canadian resource taxes 0.0 0.0 0.0
Gross margin (excluding Canadian resource taxes) 492.0 406.6 211.6
Selling, general and administrative expenses [2] 147.9 134.7 110.1
Loss (gain) on assets sold and to be sold (27.7)   0.0
Impairment of goodwill 96.3    
Other operating expenses [3] (1.4) 34.2 27.0
Operating (loss) earnings 277.0 237.6 [3] 74.5
Gain on sale of equity investment   0.0  
Segment, Expenditure, Addition to Long-Lived Assets 260.5 242.8 336.3
Depreciation, depletion and amortization expense 174.2 159.3 165.5
Equity in net earnings of nonconsolidated companies 0.0 0.0 0.0
Assets 4,618.5 4,372.0 5,205.7
Corporate Eliminations And Other Segment      
Segment Reporting Information [Line Items]      
Net sales to external customers 668.6 536.2 913.8
Intersegment net sales (701.7) (743.2) (860.3)
Net sales (33.1) (207.0) 53.5
Cost of goods sold [1] (135.7) (75.1) (28.4)
Gross margin 102.6 (131.9) 81.9
Canadian resource taxes 0.0 0.0 0.0
Gross margin (excluding Canadian resource taxes) 102.6 (131.9) 81.9
Selling, general and administrative expenses [2] 310.1 285.8 318.4
Loss (gain) on assets sold and to be sold 0.0   (56.5)
Impairment of goodwill 0.0    
Other operating expenses [3] 21.1 27.9 83.7
Operating (loss) earnings (228.6) (445.7) [3] (263.6)
Gain on sale of equity investment   0.0  
Segment, Expenditure, Addition to Long-Lived Assets 6.5 50.8 82.8
Depreciation, depletion and amortization expense 38.5 24.1 10.4
Equity in net earnings of nonconsolidated companies 2.3 2.4 3.9
Assets 3,012.0 2,651.9 1,417.5
Corporate Eliminations And Other Segment | China and India distribution operations      
Segment Reporting Information [Line Items]      
Net sales to external customers 640.0 519.6 898.9
Gross margin $ 88.0 $ 39.7 $ (16.8)
[1] The primary components of cost of goods sold are raw material purchases, including sulfur and ammonia, conversion costs and transportation costs.
[2] Selling, general and administrative expenses include nonmanufacturing payroll expense and professional services expense.
[3] 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
v3.25.4
Disaggregation of Revenue and Long Lived Assets (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Revenues from External Customers and Long-Lived Assets      
Net sales to external customers $ 12,052.4 $ 11,122.8 $ 13,696.1
Long-lived assets 17,425.9 16,406.3  
Goodwill 1,005.1 1,061.1 1,138.6
Deferred income taxes 811.6 958.3  
Phosphate Crop Nutrients | Transferred at Point in Time      
Revenues from External Customers and Long-Lived Assets      
Net sales to external customers 3,273.4 2,978.7 3,277.5
Potash Crop Nutrients | Transferred at Point in Time      
Revenues from External Customers and Long-Lived Assets      
Net sales to external customers 2,920.4 2,808.6 4,107.7
Crop Nutrient Blends | Transferred at Point in Time      
Revenues from External Customers and Long-Lived Assets      
Net sales to external customers 1,380.6 1,253.4 2,107.4
Performance Products | Transferred at Point in Time      
Revenues from External Customers and Long-Lived Assets      
Net sales to external customers [1] 2,635.1 2,264.2 2,453.3
Phosphate Rock | Transferred at Point in Time      
Revenues from External Customers and Long-Lived Assets      
Net sales to external customers 132.1 217.2 125.9
Other Product Types | Transferred at Point in Time      
Revenues from External Customers and Long-Lived Assets      
Net sales to external customers [2] 1,710.8 1,600.7 1,624.3
Brazil      
Revenues from External Customers and Long-Lived Assets      
Long-lived assets 2,372.9 2,012.8  
Brazil | Transferred at Point in Time      
Revenues from External Customers and Long-Lived Assets      
Net sales to external customers [3] 4,678.5 4,296.2 5,480.9
Canpotex      
Revenues from External Customers and Long-Lived Assets      
Net sales to external customers 1,200.0 884.3 [3],[4] 1,300.0 [3],[4]
Canpotex | Transferred at Point in Time      
Revenues from External Customers and Long-Lived Assets      
Net sales to external customers [3],[4] 1,247.8 884.3 1,275.7
China | Transferred at Point in Time      
Revenues from External Customers and Long-Lived Assets      
Net sales to external customers [3] 551.3 536.9 556.1
Canada      
Revenues from External Customers and Long-Lived Assets      
Long-lived assets 5,837.8 5,390.5  
Canada | Transferred at Point in Time      
Revenues from External Customers and Long-Lived Assets      
Net sales to external customers [3] 387.6 520.1 411.6
Paraguay | Transferred at Point in Time      
Revenues from External Customers and Long-Lived Assets      
Net sales to external customers [3] 148.0 178.5 222.8
Argentina | Transferred at Point in Time      
Revenues from External Customers and Long-Lived Assets      
Net sales to external customers [3] 133.4 141.8 75.2
Japan | Transferred at Point in Time      
Revenues from External Customers and Long-Lived Assets      
Net sales to external customers [3] 122.5 130.8 157.7
Colombia | Transferred at Point in Time      
Revenues from External Customers and Long-Lived Assets      
Net sales to external customers [3] 89.1 118.7 103.2
India | Transferred at Point in Time      
Revenues from External Customers and Long-Lived Assets      
Net sales to external customers [3] 70.9 72.8 350.8
Australia | Transferred at Point in Time      
Revenues from External Customers and Long-Lived Assets      
Net sales to external customers [3] 65.6 57.9 69.0
Peru | Transferred at Point in Time      
Revenues from External Customers and Long-Lived Assets      
Net sales to external customers [3] 62.1 49.2 77.5
Mexico | Transferred at Point in Time      
Revenues from External Customers and Long-Lived Assets      
Net sales to external customers [3] 29.0 42.2 125.5
Honduras | Transferred at Point in Time      
Revenues from External Customers and Long-Lived Assets      
Net sales to external customers [3] 32.4 25.7 30.0
Dominican Republic | Transferred at Point in Time      
Revenues from External Customers and Long-Lived Assets      
Net sales to external customers [3] 22.3 14.7 16.7
Other Foreign      
Revenues from External Customers and Long-Lived Assets      
Long-lived assets 630.5 545.8  
Other Foreign | Transferred at Point in Time      
Revenues from External Customers and Long-Lived Assets      
Net sales to external customers [3] 89.0 82.3 64.3
Total Foreign      
Revenues from External Customers and Long-Lived Assets      
Long-lived assets 8,841.2 7,949.1  
Total Foreign | Transferred at Point in Time      
Revenues from External Customers and Long-Lived Assets      
Net sales to external customers 7,729.5 7,152.1 9,017.0
United States      
Revenues from External Customers and Long-Lived Assets      
Long-lived assets 8,584.7 8,457.2  
United States | Transferred at Point in Time      
Revenues from External Customers and Long-Lived Assets      
Net sales to external customers [3] $ 4,322.9 $ 3,970.7 $ 4,679.1
[1] Includes sales of MicroEssentials®, K-Mag® and Aspire®.
[2] Includes sales of industrial potash, feed products, nitrogen and other products.
[3] Revenues are attributed to countries based on location of customer.
[4] 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.
v3.25.4
Assets Sold and Held for Sale (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Nov. 03, 2025
Oct. 03, 2025
Dec. 31, 2024
Long-Lived Assets Held-for-Sale [Line Items]        
Inventory, Net $ 3,363.0     $ 2,548.4
Property, plant and equipment, net 13,982.6     13,352.6
Asset retirement obligations 2,330.6     $ 2,219.4
Impairment of Long-Lived Assets to be Disposed of (185.0)      
Proceeds from Sale of Production Assets, Contingent on Future Pricing Benchmarks 5.0      
Notes Receivable, Noncurrent 10.0      
Carlsbad        
Long-Lived Assets Held-for-Sale [Line Items]        
Accounts and Other Receivables, Net, Current 15.7      
Inventory, Net 44.5      
Other Assets 14.2      
Property, plant and equipment, net 184.1      
Disposal Group, Including Discontinued Operation, Assets, Current 73.5      
Accounts Payable and Accrued Liabilities, Current 14.3      
Deferred Tax and Other Liabilities, Noncurrent 20.2      
Asset retirement obligations 20.8      
Disposal Group, Including Discontinued Operation, Liabilities, Current 55.3      
Proceeds from Sale of Productive Assets 20.0      
Impairment of Long-Lived Assets to be Disposed of (185.0)      
Patos de Minas        
Long-Lived Assets Held-for-Sale [Line Items]        
Gain (Loss) on Disposition of Assets 94.0      
Proceeds from Sale of Productive Assets 111.0      
Proceeds from Sale of Productive Assets, Received at Closing     $ 51.0  
Taquari        
Long-Lived Assets Held-for-Sale [Line Items]        
Gain (Loss) on Disposition of Assets 66.0      
Proceeds from Sale of Productive Assets 27.0      
Proceeds from Sale of Productive Assets, Received at Closing   $ 12.0    
Proceeds From Sale Of Productive Assets, Received in One Year $ 10.0