MOSAIC CO, 10-Q filed on 5/7/2025
Quarterly Report
v3.25.1
Document and Entity Information - shares
 3 Months Ended
Mar. 31, 2025
May 02, 2025
Cover [Abstract]    
Document type 10-Q  
Document quarterly report true  
Document period end date Mar. 31, 2025  
Document transition report false  
Entity file number 001-32327  
Entity registrant name MOSAIC CO  
State of incorporation DE  
Employer identification number 20-1026454  
Address line one 101 East Kennedy Blvd  
Address line two Suite 2500  
City Tampa  
State FL  
Zip code 33602  
Area code 800  
Phone number 918-8270  
Title of each class Common Stock, par value $0.01 per share  
Trading symbol MOS  
Name of each exchange on which registered NYSE  
Entity current reporting status Yes  
Entity interactive data current Yes  
Entity filer category Large Accelerated Filer  
Smaller reporting company false  
Emerging growth company false  
Entity shell company false  
Entity common stock shares outstanding   317,230,799
Entity central index key 0001285785  
Amendment flag false  
Document Fiscal Year Focus 2025  
Document Fiscal Period Focus Q1  
Current fiscal year end date --12-31  
v3.25.1
Condensed Consolidated Statements of Earnings (Unaudited) - USD ($)
shares in Millions, $ in Millions
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Net Sales $ 2,620.9 $ 2,679.4
Cost of goods sold 2,132.5 2,280.2
Gross margin 488.4 399.2
Selling, general and administrative expenses 122.6 106.8
Other operating expense 27.3 119.5
Operating earnings 338.5 172.9
Interest expense, net (40.7) (48.0)
Foreign currency transaction gain (loss) 133.1 (100.3)
Other (expense) income (118.1) 0.6
Earnings from consolidated companies before income taxes 312.8 25.2
Provision for income taxes 63.3 6.2
Earnings from consolidated companies 249.5 19.0
Income (Loss) from Subsidiaries, Net of Tax 0.5 37.5
Net earnings including noncontrolling interests (250.0) (56.5)
Less: Net earnings attributable to noncontrolling interests 11.9 11.3
Net earnings attributable to Mosaic $ 238.1 $ 45.2
Basic net earnings per share attributable to Mosaic $ 0.75 $ 0.14
Basic weighted average number of shares outstanding 317.0 322.1
Diluted net earnings per share attributable to Mosaic $ 0.75 $ 0.14
Diluted weighted average number of shares outstanding 318.2 323.5
v3.25.1
Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Statement of Comprehensive Income [Abstract]    
Net earnings (loss) including noncontrolling interest $ 250.0 $ 56.5
Other comprehensive income (loss), net of tax    
Foreign currency translation gain (loss) 108.1 (129.7)
Net actuarial gain and prior service cost 0.1 0.8
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification and Tax 0.0 0.0
Net gain (loss) on marketable securities held in trust fund 7.9 (10.3)
Other comprehensive income (loss) 116.1 (139.2)
Comprehensive income (loss) 366.1 (82.7)
Less: Comprehensive income attributable to noncontrolling interest 13.5 10.5
Comprehensive income (loss) attributable to Mosaic $ 352.6 $ (93.2)
v3.25.1
Condensed Consolidated Balance Sheet - USD ($)
$ in Millions
Mar. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 259.2 $ 272.8
Receivables, Net, Current 1,067.4 1,113.3
Inventories 2,782.6 2,548.4
Other current assets 485.6 563.8
Total current assets 4,594.8 4,498.3
Property, plant and equipment, net of accumulated depreciation 13,516.7 13,352.6
Accumulated depreciation 10,783.4 10,499.7
Equity securities and investments in nonconsolidated companies 1,418.1 1,533.4
Goodwill 1,065.1 1,061.1
Deferred Income Tax Assets, Net 1,020.3 958.3
Other assets 1,550.7 1,520.3
Total assets 23,165.7 22,924.0 [1]
Current liabilities:    
Other Short-term Borrowings 1,234.4 847.1
Current maturities of long-term debt 33.3 45.3
Structured accounts payable arrangements 383.8 402.3
Accounts Payable, Current 936.0 1,156.5
Accrued liabilities 1,503.5 1,720.1
Total current liabilities 4,091.0 4,171.3
Long-term debt, less current maturities 3,329.9 3,332.3
Deferred Income Tax Liabilities, Net 945.0 942.8
Other noncurrent liabilities 2,883.1 2,862.9
Equity:    
Preferred stock, par value $ 0.0 $ 0.0
Preferred stock, outstanding 0 0
Preferred stock, issued 0 0
Preferred stock, authorized 15,000,000 15,000,000
Preferred stock, par value $ 0.01 $ 0.01
Common stock, par value $ 3.2 $ 3.2
Common stock, outstanding 317,229,733 316,932,047
Common stock, issued 391,174,065 394,648,654
Common stock, authorized 1,000,000,000 1,000,000,000
Common stock, par value $ 0.01 $ 0.01
Capital in excess of par value $ 8.3 $ 2.1
Retained earnings 14,093.9 13,926.1
Accumulated other comprehensive loss (2,334.5) (2,449.0)
Total Mosaic stockholders' equity 11,770.9 11,482.4
Noncontrolling interests 145.8 132.3
Total equity 11,916.7 11,614.7
Total liabilities and equity 23,165.7 22,924.0
Affiliated Entity    
Current assets:    
Accounts and Other Receivables, Net, Current 106.2 109.9
Current liabilities:    
Accounts Payable, Current $ 98.5 $ 155.1
[1] CODM, was revised to no longer include intercompany assets and segment cash and to include an allocation of certain fixed assets from Corporate to the Phosphate and Potash segments. As a result, the December 31, 2024 balances have been recast to reflect these changes.
v3.25.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Jun. 30, 2024
Dec. 31, 2024
Cash Flows from Operating Activities        
Net earnings including noncontrolling interest $ 250.0 $ 56.5    
Adjustments to reconcile net earnings including noncontrolling interests to net cash provided by operating activities:        
Depreciation, depletion and amortization 243.0 241.1    
Deferred and other income taxes (11.0) (75.3)    
Equity in net (earnings) of nonconsolidated companies, net of dividends (0.4) (22.5)    
Accretion expense for asset retirement obligations 32.2 27.2 $ 111.2  
Share-based compensation expense 9.3 9.3    
Unrealized (gain) loss on derivatives (57.7) 32.6    
Foreign Currency Transaction Loss, before Tax   94.9    
Foreign Currency Transaction Gain, before Tax 159.0      
Other 11.4 19.7    
Changes in assets and liabilities, excluding effects of acquisition:        
Receivables, net 59.6 30.8    
Inventories (162.4) (114.9)    
Other current and noncurrent assets 55.1 55.0    
Accounts payable and accrued liabilities (331.9) (477.7)    
Other noncurrent liabilities (11.9) 43.3    
Net cash provided by (used in) operating activities 42.9 (80.0)    
Cash Flows from Investing Activities        
Capital expenditures 340.8 383.0    
Purchases of available-for-sale securities - restricted (102.5) (624.7)    
Proceeds from sale of available-for-sale securities - restricted 97.1 619.8    
Other 5.4 0.1    
Net cash used in investing activities (340.8) (387.8)    
Cash Flows from Financing Activities        
Repayments of Other Short-term Debt (3,618.7) (4,596.2)    
Proceeds from Other Short-term Debt 3,804.5 4,900.4    
Repayments of inventory financing arrangement (199.5) (200.3)    
Proceeds From Inventory Financing Arrangements 401.6 701.2    
Payments of structured accounts payable arrangements (204.9) (226.1)    
Proceeds from structured accounts payable arrangements 182.1 90.9    
Collections from Factoring Receivables 105.8 101.6    
Payments of Factoring Receivables (105.8) (100.6)    
Payments of long-term debt (11.7) (15.4)    
Payments for Repurchase of Common Stock 0.0 108.4    
Cash dividends paid (70.9) (69.7)    
Payments of Ordinary Dividends, Noncontrolling Interest 0.0 (8.2)    
Proceeds from (Payment for) Other Financing Activity (10.5) (11.3)    
Net cash provided by financing activities 272.0 457.9    
Net change in cash, cash equivalents and restricted cash (26.3) (13.7)    
Cash, cash equivalents and restricted cash-beginning of period 305.0 360.8 $ 360.8  
Cash, cash equivalents and restricted cash-end of period 278.7 347.1    
Effect of Exchange Rate on Cash, Cash Equivalent, Restricted Cash, and Restricted Cash Equivalent, Continuing Operation (0.4) (3.8)    
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Abstract]        
Cash and cash equivalents 259.2 336.7   $ 272.8
Restricted cash in other current assets 8.6 2.4    
Restricted cash in other assets 10.9 8.0    
Cash, cash equivalents and restricted cash-end of period 278.7 347.1   $ 305.0
Supplemental Disclosure of Cash Flow Information:        
Interest (net of amount capitalized) 12.1 17.1    
Capitalized interest costs 8.6 10.6    
Income taxes (net of refunds) 75.5 98.6    
Gain (Loss) on Disposition of Stock in Subsidiary or Equity Method Investee $ 116.6 $ 0.0    
v3.25.1
Condensed Consolidated Statements of Shareholders Equity (Unaudited) - USD ($)
$ in Millions
Total
Common Stock
Capital in Excess of Par Value
Retained Earnings
Accumulated Other Comprehensive Loss
Noncontrolling Interest
Beginning balance at Dec. 31, 2023 $ 12,432.8 $ 3.2 $ 0.0 $ 14,241.9 $ (1,954.9) $ 142.6
Common stock shares outstanding, beginning balance (in shares) at Dec. 31, 2023   324,100,000        
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Total comprehensive income (loss) (82.7)       (138.4) 10.5
Stock Issued During Period, Shares, Restricted Stock Award, Gross   700,000        
APIC, Share-based Payment Arrangement, Restricted Stock Unit, Increase for Cost Recognition (10.4)     (10.4)    
Stock based compensation $ 9.3   9.3      
Stock Repurchased During Period, Shares (3,400,000)          
Stock Repurchased During Period, Value $ 109.3 $ 0.0 9.3      
Stock Repurchased and Retired During Period, Value       (100.0)    
Dividends (67.7)     (67.7)    
Dividends for noncontrolling interests (8.2)         (8.2)
Ending balance at Mar. 31, 2024 $ 12,163.8 $ 3.2 0.0 14,109.0 (2,093.3) 144.9
Common stock shares outstanding, ending balance (in shares) at Mar. 31, 2024   321,400,000        
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Dividends per share $ 0.21          
Excised Tax on Share Repurchases $ 0.9          
Comprehensive Income (Loss), Net of Tax, Attributable to Parent (93.2)     45.2    
Beginning balance at Dec. 31, 2024 $ 11,614.7 $ 3.2 2.1 13,926.1 (2,449.0) 132.3
Common stock shares outstanding, beginning balance (in shares) at Dec. 31, 2024 316,932,047 316,900,000        
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Total comprehensive income (loss) $ 366.1       114.5 13.5
Stock Issued During Period, Shares, Restricted Stock Award, Gross   300,000        
APIC, Share-based Payment Arrangement, Restricted Stock Unit, Increase for Cost Recognition (3.1)   (3.1)      
Stock based compensation 9.3   9.3      
Dividends (70.3)     (70.3)    
Ending balance at Mar. 31, 2025 $ 11,916.7 $ 3.2 $ 8.3 14,093.9 $ (2,334.5) $ 145.8
Common stock shares outstanding, ending balance (in shares) at Mar. 31, 2025 317,229,733 317,200,000        
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Dividends per share $ 0.22          
Comprehensive Income (Loss), Net of Tax, Attributable to Parent $ 352.6     $ 238.1    
v3.25.1
Condensed Consolidated Statements of Shareholders Equity (Unaudited) (Parentheticals) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Statement of Stockholders' Equity [Abstract]    
Dividends per share $ 0.22 $ 0.21
Excised Tax on Share Repurchases   $ 0.9
v3.25.1
Accumulated Other Comprehensive Income (Loss)
 3 Months Ended
Mar. 31, 2025
Accumulated Other Comprehensive Income (Loss) [Abstract]  
Comprehensive Income (Loss) Note [Text Block] Accumulated Other Comprehensive Income (Loss) (“AOCI”)
The following table sets forth the changes in AOCI, net of tax, by component during the three months ended March 31, 2025 and March 31, 2024:
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
Three Months Ended March 31, 2025
Balance at December 31, 2024$(2,420.3)$(22.1)$8.0 $(14.6)$(2,449.0)
Other comprehensive income (loss)109.1 0.2 — 10.3 119.6 
Tax (expense) benefit(1.0)(0.1)— (2.4)(3.5)
Other comprehensive income (loss), net of tax108.1 0.1 — 7.9 116.1 
Other comprehensive income (loss) attributable to noncontrolling interest(1.6)— — — (1.6)
Balance as of March 31, 2025$(2,313.8)$(22.0)$8.0 $(6.7)$(2,334.5)
Three Months Ended March 31, 2024
Balance at December 31, 2023$(1,930.2)$(33.0)$8.1 $0.2 $(1,954.9)
Other comprehensive income (loss)(125.5)1.3 — (13.3)(137.5)
Tax (expense) benefit(4.2)(0.5)— 3.0 (1.7)
Other comprehensive income (loss), net of tax(129.7)0.8 — (10.3)(139.2)
Other comprehensive income (loss) attributable to noncontrolling interest0.8 — — — 0.8 
Balance as of March 31, 2024$(2,059.1)$(32.2)$8.1 $(10.1)$(2,093.3)
v3.25.1
Accumulated Other Comprehenive Income (Loss)
 3 Months Ended
Mar. 31, 2025
Accumulated Other Comprehensive Income (Loss) [Abstract]  
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]
The following table sets forth the changes in AOCI, net of tax, by component during the three months ended March 31, 2025 and March 31, 2024:
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
Three Months Ended March 31, 2025
Balance at December 31, 2024$(2,420.3)$(22.1)$8.0 $(14.6)$(2,449.0)
Other comprehensive income (loss)109.1 0.2 — 10.3 119.6 
Tax (expense) benefit(1.0)(0.1)— (2.4)(3.5)
Other comprehensive income (loss), net of tax108.1 0.1 — 7.9 116.1 
Other comprehensive income (loss) attributable to noncontrolling interest(1.6)— — — (1.6)
Balance as of March 31, 2025$(2,313.8)$(22.0)$8.0 $(6.7)$(2,334.5)
Three Months Ended March 31, 2024
Balance at December 31, 2023$(1,930.2)$(33.0)$8.1 $0.2 $(1,954.9)
Other comprehensive income (loss)(125.5)1.3 — (13.3)(137.5)
Tax (expense) benefit(4.2)(0.5)— 3.0 (1.7)
Other comprehensive income (loss), net of tax(129.7)0.8 — (10.3)(139.2)
Other comprehensive income (loss) attributable to noncontrolling interest0.8 — — — 0.8 
Balance as of March 31, 2024$(2,059.1)$(32.2)$8.1 $(10.1)$(2,093.3)
v3.25.1
Accumulated Other Comprehensive Income (Loss) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Dec. 31, 2024
Dec. 31, 2023
Accumulated Other Comprehensive Income (Loss) [Line Items]        
Accumulated other comprehensive loss $ (2,334.5)   $ (2,449.0)  
Other Comprehensive Income (Loss), Tax 119.6 $ (137.5)    
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss) Arising During Period, after Tax (3.5) (1.7)    
OCI, Debt Securities, Available-for-Sale, Unrealized Holding Gain (Loss), before Adjustment, after Tax 7.9 (10.3)    
Other comprehensive income (loss) 116.1 (139.2)    
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Noncontrolling Interest (1.6) 0.8    
Stockholders' Equity Attributable to Parent 11,770.9   11,482.4  
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]        
Accumulated Other Comprehensive Income (Loss) [Line Items]        
Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Tax 109.1 (125.5)    
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss) Arising During Period, Net of Tax (1.0) (4.2)    
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss) Arising During Period, Net of Tax 108.1 (129.7)    
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Noncontrolling Interest (1.6) 0.8    
Stockholders' Equity Attributable to Parent (2,313.8) (2,059.1) (2,420.3) $ (1,930.2)
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member]        
Accumulated Other Comprehensive Income (Loss) [Line Items]        
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss) Arising During Period, before Tax 0.2 1.3    
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss) Arising During Period, after Tax (0.1) (0.5)    
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss) Arising During Period, after Tax 0.1 0.8    
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Noncontrolling Interest 0.0 0.0    
Stockholders' Equity Attributable to Parent (22.0) (32.2) (22.1) (33.0)
AOCI, Derivative Qualifying as Hedge, Excluded Component, Noncontrolling Interest [Member]        
Accumulated Other Comprehensive Income (Loss) [Line Items]        
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax 0.0 0.0    
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax 0.0 0.0    
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Tax 0.0 0.0    
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Noncontrolling Interest 0.0 0.0    
Stockholders' Equity Attributable to Parent 8.0 8.1 8.0 8.1
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent [Member]        
Accumulated Other Comprehensive Income (Loss) [Line Items]        
Net (loss) gain on marketable securities held in trust fund, net of tax (2.4) 3.0    
OCI, Debt Securities, Available-for-Sale, Unrealized Holding Gain (Loss), before Adjustment, after Tax 7.9 (10.3)    
Other Comprehensive Income (Loss), Securities, Available-for-sale, Tax 10.3 (13.3)    
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Noncontrolling Interest 0.0 0.0    
Stockholders' Equity Attributable to Parent (6.7) (10.1) (14.6) 0.2
Accumulated Other Comprehensive Loss        
Accumulated Other Comprehensive Income (Loss) [Line Items]        
Stockholders' Equity Attributable to Parent $ (2,334.5) $ (2,093.3) $ (2,449.0) $ (1,954.9)
v3.25.1
Organization and Nature of Business
 3 Months Ended
Mar. 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 non-controlling 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. The Phosphate segment includes our 75% interest in the Miski Mayo Phosphate Mine (“Miski Mayo”) in Peru. These results are consolidated in the Phosphate segment. Through December 24, 2024, the Phosphates 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. Prior to this, our equity in the net earnings or losses relating to MWSPC were recognized on a one-quarter lag in our Condensed 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 the assets in Brazil that we acquired in the 2018 acquisition (the “Acquisition”) of Vale Fertilizantes S.A. (now known as Mosaic Fertilizantes P&K S.A.), which consist of five phosphate rock mines, four phosphate chemical plants and a potash mine. The segment also includes our legacy 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.
Intersegment eliminations, unrealized mark-to-market gains/losses on derivatives and investment in equity securities of Ma'aden, debt expenses, and the results of the China and India distribution businesses are included within Corporate, Eliminations and Other.
v3.25.1
Summary of Significant Accounting Policies
 3 Months Ended
Mar. 31, 2025
Accounting Policies [Abstract]  
Summary of Significant Accounting Policies Summary of Significant Accounting Policies
Statement Presentation and Basis of Consolidation
The accompanying unaudited Condensed Consolidated Financial Statements of Mosaic have been prepared on the accrual basis of accounting and in accordance with the requirements of the Securities and Exchange Commission (“SEC”) for interim financial reporting. As permitted under these rules, certain footnotes and other financial information that are normally required by accounting principles generally accepted in the United States (“GAAP”) can be condensed or omitted. The Condensed Consolidated Financial Statements included in this document reflect, in the opinion of our management, all adjustments (consisting of only normal recurring adjustments) necessary for a fair presentation of the results for the interim periods presented. The following notes should be read in conjunction with the accounting policies and other disclosures in the Notes to the Consolidated Financial Statements included in our Annual Report on Form 10-K filed with the SEC for the year ended December 31, 2024 (the “10-K Report”). Sales, expenses, cash flows, assets and liabilities can and do vary during the year as a
result of seasonality and other factors. Therefore, interim results are not necessarily indicative of the results to be expected for the full fiscal year.
The accompanying Condensed Consolidated Financial Statements include the accounts of Mosaic, its majority owned subsidiaries, and certain variable interest entities in which Mosaic is the primary beneficiary. Certain investments in companies where we do not have control but have the ability to exercise significant influence are accounted for by the equity method.
Accounting Estimates
Preparation of the Condensed Consolidated Financial Statements in conformity with 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 estimates of fair value of acquired assets and liabilities, 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.
v3.25.1
Recently Issued Accounting Guidance
 3 Months Ended
Mar. 31, 2025
Recently Issued Accounting Guidance [Abstract]  
Accounting Standards Update and Change in Accounting Principle [Text Block] Recently Issued Accounting Guidance
In December 2023, the 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 expect the adoption of the standard to result in additional disaggregation of our income tax footnote disclosure and that it will have no impact on our results of operations, cash flows or financial conditions. We will begin providing the enhanced disclosure related to income taxes effective with our annual report on Form 10-K for the fiscal year ending December 31, 2025. The disclosures may be applied either prospectively or retrospectively to any or all prior periods presented in the financial statements. We are currently evaluating the impact this new guidance will have on our disclosures.
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 are currently evaluating the impact this new guidance will have on our disclosures.
v3.25.1
Other Financial Statement Data
 3 Months Ended
Mar. 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:
March 31, 2025December 31, 2024
Other current assets
Income and other taxes receivable $229.7 $234.9 
Prepaid expenses 231.4 299.8 
Other 24.5 29.1 
$485.6 $563.8 
Other assets
Restricted cash$10.9 $17.3 
MRO inventory171.7 169.0 
Marketable securities held in trust726.7 708.7 
Operating lease right-of-use assets222.7 220.0 
Indemnification asset18.2 18.4 
Long-term receivable12.7 12.9 
Cloud computing cost152.9 166.3 
Other234.9 207.7 
$1,550.7 $1,520.3 
Accrued liabilities
Accrued dividends$73.5 $74.1 
Payroll and employee benefits 117.1 161.8 
Asset retirement obligations 325.4 352.8 
Customer prepayments(a)
304.7 270.7 
Accrued income and other taxes131.2 204.7 
Operating lease obligation32.6 43.9 
Other 519.0 612.1 
$1,503.5 $1,720.1 
Other noncurrent liabilities
Asset retirement obligations $2,231.5 $2,219.4 
Operating lease obligation193.2 181.2 
Accrued pension and postretirement benefits98.3 91.6 
Unrecognized tax benefits 13.0 17.7 
Other 347.1 353.0 
$2,883.1 $2,862.9 
______________________________
(a) 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. 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.
v3.25.1
Earnings Per Share
 3 Months Ended
Mar. 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:
Three Months Ended March 31,
20252024
Net income attributable to Mosaic$238.1 $45.2 
Basic weighted average number of shares outstanding317.0 322.1 
Dilutive impact of share-based awards1.2 1.4 
Diluted weighted average number of shares outstanding318.2 323.5 
Basic net income per share attributable to Mosaic$0.75 $0.14 
Diluted net income per share attributable to Mosaic$0.75 $0.14 
A total of 0.4 million shares of common stock subject to issuance related to share-based awards for the three months ended March 31, 2025, and 0.6 million for the three months ended March 31, 2024 have been excluded from the calculation of diluted EPS because the effect would have been anti-dilutive.
v3.25.1
Inventories
 3 Months Ended
Mar. 31, 2025
Inventory Disclosure [Abstract]  
Inventories Inventories
Inventories consist of the following:
March 31, 2025December 31, 2024
Raw materials$224.4 $148.6 
Work in process1,019.1 941.1 
Finished goods1,318.4 1,239.8 
Final price deferred(a)
40.6 53.5 
Operating materials and supplies180.1 165.4 
$2,782.6 $2,548.4 
______________________________
(a)Final price deferred is product that has shipped to customers, but the price has not yet been agreed upon.
v3.25.1
Goodwill
 3 Months Ended
Mar. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill Goodwill
Mosaic had goodwill of $1.1 billion as of March 31, 2025 and December 31, 2024, respectively. We review goodwill for impairment annually in October and at any time events or circumstances indicate that the carrying value may not be fully recoverable, which is based on our accounting policy and GAAP. The changes in the carrying amount of goodwill, by reporting unit, are as follows:
PotashMosaic FertilizantesCorporate, Eliminations and OtherTotal
Balance as of December 31, 2024$955.4 $93.6 $12.1 $1,061.1 
Foreign currency translation2.3 1.7 — 4.0 
Balance as of March 31, 2025$957.7 $95.3 $12.1 $1,065.1 
We will perform our next annual goodwill impairment analysis for each of our reporting units as of October 31, 2025.
v3.25.1
Marketable Securities Held in Trusts
 3 Months Ended
Mar. 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 10 of our Notes to Condensed 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 Condensed 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 March 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 March 31, 2025 and December 31, 2024 are as follows:
March 31, 2025
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair
Value
Level 1
    Cash and cash equivalents $2.3 $— $— $2.3 
Level 2
    Corporate debt securities206.5 1.6 (5.1)203.0 
    Municipal bonds211.8 0.7 (3.9)208.6 
    U.S. government bonds295.7 0.5 (0.6)295.6 
Total$716.3 $2.8 $(9.6)$709.5 
December 31, 2024
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 March 31, 2025 and December 31, 2024:
March 31, 2025December 31, 2024
(in millions)Fair
Value		Gross
Unrealized
Losses		Fair
Value		Gross
Unrealized
Losses
Securities that have been in a continuous loss position for less than 12 months:
Corporate debt securities$25.6 $(0.2)$53.4 $(0.7)
Municipal bonds91.8 (0.6)102.4 (1.7)
U.S. government bonds221.3 (1.6)280.9 (7.8)
$338.7 $(2.4)$436.7 $(10.2)
Securities that have been in a continuous loss position for more than 12 months:
Corporate debt securities$75.6 $(4.9)$81.3 $(6.1)
Municipal bonds58.3 (2.3)55.6 (2.3)
$133.9 $(7.2)$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 March 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.
March 31, 2025
Due in one year or less$18.9 
Due after one year through five years225.1 
Due after five years through ten years414.3 
Due after ten years48.9 
Total debt securities$707.2 
For the three months ended March 31, 2025, realized gains were $0.4 million and realized losses were $0.5 million. For the three months ended March 31, 2024, realized gains were $10.6 million and realized losses were $6.8 million.
v3.25.1
Financing Arrangements Financing Arrangements
 3 Months Ended
Mar. 31, 2025
Financing Arrangements [Abstract]  
Debt Disclosure Financing Arrangements
Inventory Financing Arrangement
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 March 31, 2025 and December 31, 2024, we had financed inventory of $401.6 million and $199.5 million, respectively, under this arrangement, which is included in short-term debt on the Condensed Consolidated Balance Sheet.
Receivable Purchasing Arrangement
We finance certain accounts receivable through a Receivable Purchasing Agreement (“RPA”) with banks whereby, from time-to-time, we sell the receivables to bank counterparties. The net face value of the purchased receivables may not exceed $600 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 RPA are accounted for as a true sale. Upon sale, these receivables are removed from the Condensed Consolidated Balance Sheets. Cash received is presented as cash provided by operating activities in the Condensed Consolidated Statements of Cash Flows.
During the three months ended March 31, 2025, the Company sold approximately $102.1 million of accounts receivable under this arrangement. During the three months ended March 31, 2024, the Company sold approximately $125.9 million. Discounts on sold receivables were not material for any period presented. Following such sales, we continue to service the collection of the receivables on behalf of the banks without further consideration. As of March 31, 2025 and December 31, 2024, there was no amount outstanding to be remitted to the banks. Any outstanding amount is classified in accrued liabilities on the Condensed Consolidated Balance Sheets. Cash collected and remitted are presented as cash used in financing activities in the Condensed Consolidated Statements of Cash Flows.
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. Mosaic then makes payment to the third-party intermediary at dates ranging from 144 to 180 days from date of shipment. As of March 31, 2025 and December 31, 2024, the total structured accounts payable arrangements were $383.8 million and $402.3 million, respectively.
Commercial Paper Note Program
In September 2022, we established 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 March 31, 2025, we had $828.3 million outstanding under this program, with a weighted average interest rate of 4.68% and remaining average term of 16 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.
Term Loan Facility
In May 2023, we entered into a $700 million, 10-year senior unsecured term loan facility. The term loan matures on May 18, 2033. We may voluntarily prepay the outstanding principal without premium or penalty. As of March 31, 2025 and December 31, 2024, $570.0 million, has been drawn under this facility with no further draws available. Interest rates for the term loan are variable and are based on the Secured Overnight Financing Rate (“SOFR”), plus credit spread adjustments.
v3.25.1
Asset Retirement Obligations
 3 Months Ended
Mar. 31, 2025
Asset Retirement Obligation Disclosure [Abstract]  
Asset Retirement Obligation Disclosure 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) de-commission mines in Brazil and Peru; and (viii) decommission plant sites and close 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:
(in millions)March 31, 2025December 31, 2024
AROs, beginning of period$2,572.2 $2,213.4 
Liabilities incurred5.8 29.8 
Liabilities settled(72.1)(253.8)
Accretion expense32.2 111.2 
Revisions in estimated cash flows2.6 541.4 
Foreign currency translation16.2 (69.8)
AROs, end of period2,556.9 2,572.2 
Less current portion325.4 352.8 
Non-current portion of AROs$2,231.5 $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 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, Florida phosphate concentrates facility (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 8 to our Condensed 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, 2024, 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
Plant City. 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 $327.1 million, which reflects our closure cost estimates as of December 31, 2024. 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 March 31, 2025 and December 31, 2024, the aggregate amounts of AROs associated with the combined Plant City Facility and Bonnie Facility Gypstack closure costs included in our Condensed Consolidated Balance Sheets were $349.6 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 Condensed Consolidated Balance Sheet reflects the discounted present value of those estimated amounts.
v3.25.1
Income Taxes
 3 Months Ended
Mar. 31, 2025
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
During the three months ended March 31, 2025, gross unrecognized tax benefits decreased by $1.6 million to $12.6 million. The decrease is primarily related to statute expirations and settlements, partially offset by recording U.S. and non-U.S. reserves and foreign exchange. If recognized, approximately $9.8 million in unrecognized tax benefits would affect our effective tax rate and net earnings in future periods.
We recognize interest and penalties related to unrecognized tax benefits as a component of our income tax provision. We had accrued interest and penalties totaling $4.8 million and $5.4 million as of March 31, 2025 and December 31, 2024, respectively, that were included in other noncurrent liabilities in the Condensed Consolidated Balance Sheets.
Accounting for uncertain tax positions is determined by prescribing the minimum probability threshold that a tax position is more likely than not to be sustained based on the technical merits of the position. Mosaic is continually under audit by various 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 raised have been properly accounted for in its current financial statements.
For the three months ended March 31, 2025, discrete tax items recorded in tax expense was a benefit of approximately $26.3 million. The net tax benefit consisted primarily of changes in valuation allowance and share-based excess costs. In addition to items specific to the period, our income tax rate is impacted by the mix of earnings across the jurisdictions in which we operate, by a benefit associated with depletion, 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.
Generally, for interim periods, income tax is equal to the total of (1) year-to-date pretax income multiplied by our forecasted effective tax rate, plus (2) tax expense items specific to the period. In situations where we expect to report losses for which we do not expect to receive tax benefits, we are required to apply separate forecasted effective tax rates to those jurisdictions rather than including them in the consolidated effective tax rate. For the three months ended March 31, 2025, income tax expense was impacted by this set of rules, resulting in reduced expense of $1.2 million compared to what would have been recorded under the general rule on a consolidated basis.
v3.25.1
Accounting for Derivative Instruments and Hedging Activities
 3 Months Ended
Mar. 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 Condensed 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.
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 Condensed 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 Condensed 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 Condensed 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 March 31, 2025 and December 31, 2024.
As of March 31, 2025 and December 31, 2024, the gross asset position of our derivative instruments was $5.3 million and $3.1 million, respectively, and the gross liability position of our liability instruments was $32.0 million and $87.8 million, respectively.
The following is the total absolute notional volume associated with our outstanding derivative instruments:
(in millions of Units)March 31, 2025December 31, 2024
Derivative InstrumentDerivative CategoryUnit of Measure
Foreign currency derivativesForeign currencyUS Dollars1,654.3 1,377.3 
Natural gas derivativesCommodityMMbtu—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 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 March 31, 2025 and December 31, 2024 was $25.4 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 March 31, 2025, we would have been required to post an additional $21.7 million of collateral assets, which are either cash or U.S. Treasury instruments, to the counterparties.
Counterparty Credit Risk
We enter into foreign exchange, certain commodity and interest rate derivatives, primarily with a diversified group of highly rated counterparties. We continually monitor our positions and the credit ratings of the counterparties involved and limit the amount of credit exposure to any one party. 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.
v3.25.1
Fair Value Measurements
 3 Months Ended
Mar. 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 Condensed Consolidated Balance Sheets at fair value on a recurring basis:
Foreign Currency Derivatives - The foreign currency derivative instruments that we currently use are forward contracts, 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. Changes in the fair market values of these contracts are recognized in the Condensed 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 March 31, 2025 and December 31, 2024, the gross asset position of our foreign currency derivative instruments was $5.3 million and $3.1 million, respectively, and the gross liability position of our foreign currency derivative instruments was $32.0 million and $86.1 million, respectively.
Commodity Derivatives - The commodity contracts primarily relate to natural gas. The commodity derivative instruments that we currently use are forward purchase contracts and swaps. 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 Condensed Consolidated Financial Statements as a component of cost of goods sold in our Corporate, Eliminations and Other segment. The gross asset position of our commodity derivative instruments was zero as of March 31, 2025 and December 31, 2024, and the gross liability position of our commodity instruments was zero and $1.7 million as of March 31, 2025 and December 31, 2024, respectively.
Interest Rate Derivatives - We 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 Condensed Consolidated Financial Statements as a component of interest expense. We did not hold any interest rate derivative positions as of March 31, 2025.
Financial Instruments
The carrying amounts and estimated fair values of our financial instruments are as follows:
March 31, 2025December 31, 2024
Carrying AmountFair ValueCarrying AmountFair Value
Cash and cash equivalents$259.2 $259.2 $272.8 $272.8 
Accounts receivable1,067.4 1,067.4 1,113.3 1,113.3 
Equity securities1,370.2 1,370.2 1,486.8 1,486.8 
Accounts payable936.0 936.0 1,156.5 1,156.5 
Structured accounts payable arrangements383.8 383.8 402.3 402.3 
Short-term debt1,234.4 1,234.4 847.1 847.1 
Long-term debt, including current portion3,363.2 3,349.5 3,377.6 3,324.1 
For cash and cash equivalents, accounts receivables, 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 Ma’aden 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. Our floating rate long-term debt is non-public, 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 8 of our Notes to Consolidated Financial Statements
v3.25.1
Related Party Transactions
 3 Months Ended
Mar. 31, 2025
Related Party Transactions [Abstract]  
Related Party Transactions Disclosure 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 March 31, 2025, the net amount due from our non-consolidated companies totaled $6.2 million. As of December 31, 2024, the net amount due to our non-consolidated companies totaled $46.5 million.
The Condensed Consolidated Statements of Earnings included the following transactions with our non-consolidated companies:
Three Months Ended March 31,
20252024
Transactions with related parties included in net sales(a)
$226.4 $236.6 
Transactions with related parties included in cost of goods sold(b)
172.8 260.8 
______________________________
(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. The prior year amount also includes purchases from MWSPC.
v3.25.1
Contingencies
 3 Months Ended
Mar. 31, 2025
Commitments and Contingencies Disclosure [Abstract]  
Contingencies Contingencies
We have described below 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 and/or groundwater contamination. Spills or other releases of regulated substances, subsidence from mining operations 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 accruals of approximately $172.1 million and $197.5 million as of March 31, 2025 and December 31, 2024, respectively, of which $70.0 million and $90.8 million are included in Accrued Liabilities and $102.1 million and $106.7 million in Other Non Current Liabilities in the Condensed Consolidated Balance Sheets as of March 31, 2025 and December 31, 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 contamination 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 the 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 March 31, 2025, we have a reserve of $8.6 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 now complete and high-pressure grouting began in October 2024. 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 March 31, 2025, we have a reserve of $67.6 million for estimated repairs. We are unable to estimate at this time potential future additional financial impacts or a range of loss, if any, due to the ongoing evaluation.
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 our 10-K Report.
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 and/or fines of approximately $623.1 million. We estimate that our probable aggregate loss with respect to these claims is approximately $83.0 million, which is included in our accrued liabilities in our Condensed Consolidated Balance Sheets at March 31, 2025. Approximately $410.4 million of the foregoing maximum potential loss relates to labor claims, of which approximately $63.1 million is included in accrued liabilities in our Condensed Consolidated Balance Sheets at March 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 $597.4 million, of which $208.4 million is subject to an indemnification agreement entered into with Vale S.A in connection with the Acquisition.
Approximately $355.4 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.
v3.25.1
Business Segments
 3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
Segment Reporting Disclosure Business Segments
The reportable segments are determined by management based upon factors such as products and services, production processes, technologies, market dynamics and for which segment financial information is available for our chief operating decision maker (“CODM”). Our CODM is our chief executive officer.
Our CODM uses more than one measure to evaluate performance of our segments and allocate resources, including gross margin and operating earnings, for each segment. The financial results of our business segments includes certain allocations of corporate selling, general and administrative expenses. Therefore, the results may not represent the actual results that would be expected if the segments were independent, stand-alone businesses. Intersegment eliminations, including profit on intersegment sales, mark-to-market gains/losses on derivatives, debt expenses and the results of the China and India distribution businesses are included within Corporate, Eliminations and Other. For a description of our business segments, see Note 1 to the Condensed Consolidated Financial Statements.
Segment information for the three months ended March 31, 2025 and 2024 was as follows:
PhosphatePotashMosaic Fertilizantes
Corporate, Eliminations and Other(a)
Total
Three months ended March 31, 2025
Net sales to external customers$964.8 $570.2 $933.8 $152.1 $2,620.9 
Intersegment net sales133.8 — — (133.8)— 
Net sales1,098.6 570.2 933.8 18.3 2,620.9 
Cost of goods sold(b)
931.3 401.6 806.8 (7.2)2,132.5 
Gross margin167.3 168.6 127.0 25.5 488.4 
Canadian resource taxes— 47.3 — — 47.3 
Gross margin (excluding Canadian resource taxes)167.3 215.9 127.0 25.5 535.7 
Selling, general and administrative(c)
12.1 7.8 23.2 79.5 122.6 
Other operating expenses(d)
15.8 4.1 5.3 2.1 27.3 
Operating earnings (loss)139.4 156.8 98.5 (56.2)338.5 
Capital expenditures236.3 45.1 59.2 0.2 340.8 
Depreciation, depletion and amortization expense113.2 81.0 38.1 10.7 243.0 
Three months ended March 31, 2024
Net sales to external customers$1,023.0 $634.7 $886.4 $135.3 $2,679.4 
Intersegment net sales145.7 8.4 — (154.1)— 
Net sales1,168.7 643.1 886.4 (18.8)2,679.4 
Cost of goods sold(b)
1,009.3 431.4 811.2 28.3 2,280.2 
Gross margin159.4 211.7 75.2 (47.1)399.2 
Canadian resource taxes— 64.5 — — 64.5 
Gross margin (excluding Canadian resource taxes)159.4 276.2 75.2 (47.1)463.7 
Selling, general and administrative(c)
12.8 8.5 29.9 55.6 106.8 
Other operating expenses(d)
106.3 5.2 3.3 4.7 119.5 
Operating earnings (loss)40.3 198.0 42.0 (107.4)172.9 
Capital expenditures197.7 96.7 81.8 6.8 383.0 
Depreciation, depletion and amortization expense116.9 81.7 40.0 2.5 241.1 
Total Assets(e)
As of March 31, 2025$9,497.3 $6,517.3 $4,697.8 $2,453.3 $23,165.7 
As of December 31, 20249,419.5 6,480.6 4,372.0 2,651.9 22,924.0 

______________________________
(a)The “Corporate, Eliminations and Other” category includes the results of our ancillary distribution operations in India and China. For the three months ended March 31, 2025, distribution operations in India and China collectively had revenue of $147.4 million and gross margin of $20.3 million. For the three months ended March 31, 2024, distribution operations in India and China collectively had revenue of $129.3 million and gross margin of $7.6 million. 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 Corporate to the Phosphate and Potash segments. As a result, the December 31, 2024 balances have been recast to reflect these changes.
Financial information relating to our operations by geographic area is as follows:
 Three Months Ended 
 
March 31,
(in millions)20252024
Net sales(a):
Brazil$907.0 $852.8 
Canpotex(b)
215.5 220.8 
China136.4 124.0 
Canada124.9 142.0 
Japan32.1 41.3 
Paraguay28.6 36.9 
Argentina24.1 11.2 
Australia20.7 16.9 
Colombia20.4 32.6 
Dominican Republic8.5 — 
Mexico5.9 22.4 
India5.7 7.2 
Peru4.1 11.6 
Honduras3.5 5.0 
Other20.7 10.5 
Total international countries1,558.1 1,535.2 
United States1,062.8 1,144.2 
Consolidated$2,620.9 $2,679.4 
______________________________
(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.
Net sales by product type are as follows:
 Three Months Ended 
 
March 31,
(in millions)20252024
Sales by product type:
Phosphate Crop Nutrients$720.3 $671.1 
Potash Crop Nutrients507.4 682.6 
Crop Nutrient Blends340.1 352.2 
Performance Products(a)
497.8 466.8 
Phosphate Rock119.9 40.8 
Other(b)
435.4 465.9 
$2,620.9 $2,679.4 
____________________________________________
(a)Includes sales of MicroEssentials®, K-Mag® and Aspire®.
(b)Includes sales of industrial potash, feed products, nitrogen and other products.
v3.25.1
Share Repurchases
 3 Months Ended
Mar. 31, 2025
Share Repurchases [Abstract]  
Stockholders' Equity Note Disclosure 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 three months ended March 31, 2025, we made no share repurchases. During the three months ended March 31, 2024, we repurchased 3,398,700 shares of Common Stock in the open market for approximately $108.4 million, at an average purchase price of $31.89 per share.
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.
v3.25.1
Summary of Significant Accounting Policies (Policies)
 3 Months Ended
Mar. 31, 2025
Accounting Policies [Abstract]  
Basis of Consolidation
Statement Presentation and Basis of Consolidation
The accompanying unaudited Condensed Consolidated Financial Statements of Mosaic have been prepared on the accrual basis of accounting and in accordance with the requirements of the Securities and Exchange Commission (“SEC”) for interim financial reporting. As permitted under these rules, certain footnotes and other financial information that are normally required by accounting principles generally accepted in the United States (“GAAP”) can be condensed or omitted. The Condensed Consolidated Financial Statements included in this document reflect, in the opinion of our management, all adjustments (consisting of only normal recurring adjustments) necessary for a fair presentation of the results for the interim periods presented. The following notes should be read in conjunction with the accounting policies and other disclosures in the Notes to the Consolidated Financial Statements included in our Annual Report on Form 10-K filed with the SEC for the year ended December 31, 2024 (the “10-K Report”). Sales, expenses, cash flows, assets and liabilities can and do vary during the year as a
result of seasonality and other factors. Therefore, interim results are not necessarily indicative of the results to be expected for the full fiscal year.
The accompanying Condensed Consolidated Financial Statements include the accounts of Mosaic, its majority owned subsidiaries, and certain variable interest entities in which Mosaic is the primary beneficiary. Certain investments in companies where we do not have control but have the ability to exercise significant influence are accounted for by the equity method
Accounting Estimates
Accounting Estimates
Preparation of the Condensed Consolidated Financial Statements in conformity with 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 estimates of fair value of acquired assets and liabilities, 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
v3.25.1
Other Financial Statement Data (Tables)
 3 Months Ended
Mar. 31, 2025
Balance Sheet Related Disclosures [Abstract]  
Schedule of Other Financial Statement Data
The following provides additional information concerning selected balance sheet accounts:
March 31, 2025December 31, 2024
Other current assets
Income and other taxes receivable $229.7 $234.9 
Prepaid expenses 231.4 299.8 
Other 24.5 29.1 
$485.6 $563.8 
Other assets
Restricted cash$10.9 $17.3 
MRO inventory171.7 169.0 
Marketable securities held in trust726.7 708.7 
Operating lease right-of-use assets222.7 220.0 
Indemnification asset18.2 18.4 
Long-term receivable12.7 12.9 
Cloud computing cost152.9 166.3 
Other234.9 207.7 
$1,550.7 $1,520.3 
Accrued liabilities
Accrued dividends$73.5 $74.1 
Payroll and employee benefits 117.1 161.8 
Asset retirement obligations 325.4 352.8 
Customer prepayments(a)
304.7 270.7 
Accrued income and other taxes131.2 204.7 
Operating lease obligation32.6 43.9 
Other 519.0 612.1 
$1,503.5 $1,720.1 
Other noncurrent liabilities
Asset retirement obligations $2,231.5 $2,219.4 
Operating lease obligation193.2 181.2 
Accrued pension and postretirement benefits98.3 91.6 
Unrecognized tax benefits 13.0 17.7 
Other 347.1 353.0 
$2,883.1 $2,862.9 
______________________________
(a) 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. 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.
v3.25.1
Earnings Per Share (Tables)
 3 Months Ended
Mar. 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:
Three Months Ended March 31,
20252024
Net income attributable to Mosaic$238.1 $45.2 
Basic weighted average number of shares outstanding317.0 322.1 
Dilutive impact of share-based awards1.2 1.4 
Diluted weighted average number of shares outstanding318.2 323.5 
Basic net income per share attributable to Mosaic$0.75 $0.14 
Diluted net income per share attributable to Mosaic$0.75 $0.14 
v3.25.1
Inventories (Tables)
 3 Months Ended
Mar. 31, 2025
Inventory Disclosure [Abstract]  
Schedule of inventories
Inventories consist of the following:
March 31, 2025December 31, 2024
Raw materials$224.4 $148.6 
Work in process1,019.1 941.1 
Finished goods1,318.4 1,239.8 
Final price deferred(a)
40.6 53.5 
Operating materials and supplies180.1 165.4 
$2,782.6 $2,548.4 
______________________________
(a)Final price deferred is product that has shipped to customers, but the price has not yet been agreed upon
v3.25.1
Goodwill (Tables)
 3 Months Ended
Mar. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill The changes in the carrying amount of goodwill, by reporting unit, are as follows:
PotashMosaic FertilizantesCorporate, Eliminations and OtherTotal
Balance as of December 31, 2024$955.4 $93.6 $12.1 $1,061.1 
Foreign currency translation2.3 1.7 — 4.0 
Balance as of March 31, 2025$957.7 $95.3 $12.1 $1,065.1 
We will perform our next annual goodwill impairment analysis for each of our reporting units as of October 31, 2025.
v3.25.1
Marketable Securities Held in Trusts (Tables)
 3 Months Ended
Mar. 31, 2025
Investments, Debt and Equity Securities [Abstract]  
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 March 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.
March 31, 2025
Due in one year or less$18.9 
Due after one year through five years225.1 
Due after five years through ten years414.3 
Due after ten years48.9 
Total debt securities$707.2 
Schedule of Unrealized Loss on Investments
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 March 31, 2025 and December 31, 2024:
March 31, 2025December 31, 2024
(in millions)Fair
Value		Gross
Unrealized
Losses		Fair
Value		Gross
Unrealized
Losses
Securities that have been in a continuous loss position for less than 12 months:
Corporate debt securities$25.6 $(0.2)$53.4 $(0.7)
Municipal bonds91.8 (0.6)102.4 (1.7)
U.S. government bonds221.3 (1.6)280.9 (7.8)
$338.7 $(2.4)$436.7 $(10.2)
Securities that have been in a continuous loss position for more than 12 months:
Corporate debt securities$75.6 $(4.9)$81.3 $(6.1)
Municipal bonds58.3 (2.3)55.6 (2.3)
$133.9 $(7.2)$136.9 $(8.4)
Unrealized Gain (Loss) on Investments
The estimated fair value of the investments in the RCRA Trusts as of March 31, 2025 and December 31, 2024 are as follows:
March 31, 2025
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair
Value
Level 1
    Cash and cash equivalents $2.3 $— $— $2.3 
Level 2
    Corporate debt securities206.5 1.6 (5.1)203.0 
    Municipal bonds211.8 0.7 (3.9)208.6 
    U.S. government bonds295.7 0.5 (0.6)295.6 
Total$716.3 $2.8 $(9.6)$709.5 
December 31, 2024
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 
v3.25.1
Schedule of Change in Asset Retirement Obligations (Tables)
 3 Months Ended
Mar. 31, 2025
Asset Retirement Obligation Disclosure [Abstract]  
Schedule of Change in Asset Retirement Obligation [Table Text Block]
A reconciliation of our AROs is as follows:
(in millions)March 31, 2025December 31, 2024
AROs, beginning of period$2,572.2 $2,213.4 
Liabilities incurred5.8 29.8 
Liabilities settled(72.1)(253.8)
Accretion expense32.2 111.2 
Revisions in estimated cash flows2.6 541.4 
Foreign currency translation16.2 (69.8)
AROs, end of period2,556.9 2,572.2 
Less current portion325.4 352.8 
Non-current portion of AROs$2,231.5 $2,219.4 
v3.25.1
Accounting for Derivative Instruments and Hedging Activities (Tables)
 3 Months Ended
Mar. 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)March 31, 2025December 31, 2024
Derivative InstrumentDerivative CategoryUnit of Measure
Foreign currency derivativesForeign currencyUS Dollars1,654.3 1,377.3 
Natural gas derivativesCommodityMMbtu—2.5
v3.25.1
Fair Value Measurements (Tables)
 3 Months Ended
Mar. 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:
March 31, 2025December 31, 2024
Carrying AmountFair ValueCarrying AmountFair Value
Cash and cash equivalents$259.2 $259.2 $272.8 $272.8 
Accounts receivable1,067.4 1,067.4 1,113.3 1,113.3 
Equity securities1,370.2 1,370.2 1,486.8 1,486.8 
Accounts payable936.0 936.0 1,156.5 1,156.5 
Structured accounts payable arrangements383.8 383.8 402.3 402.3 
Short-term debt1,234.4 1,234.4 847.1 847.1 
Long-term debt, including current portion3,363.2 3,349.5 3,377.6 3,324.1 
v3.25.1
Related Party Transactions (Tables)
 3 Months Ended
Mar. 31, 2025
Related Party Transactions [Abstract]  
Schedule of related party transactions
The Condensed Consolidated Statements of Earnings included the following transactions with our non-consolidated companies:
Three Months Ended March 31,
20252024
Transactions with related parties included in net sales(a)
$226.4 $236.6 
Transactions with related parties included in cost of goods sold(b)
172.8 260.8 
______________________________
(a) Amounts included in net sales primarily relate to sales from our Potash segment to Canpotex.
(b) Amounts included in cost of goods sold primarily relate to purchases from Canpotex by our Mosaic Fertilizantes segment and India and China distribution businesses. The prior year amount also includes purchases from MWSPC.
v3.25.1
Business Segments (Tables) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Dec. 31, 2024
 [1]
Segment Reporting Information [Line Items]      
Net Sales $ 2,620.9 $ 2,679.4  
Gross margin 488.4 399.2  
Canadian resource taxes 47.3 64.5  
Gross margin (excluding canadian resource taxes) 535.7 463.7  
Operating earnings (loss) 338.5 172.9  
Segment, Expenditure, Addition to Long-Lived Assets 340.8 383.0  
Capital expenditures 340.8 383.0  
Depreciation, depletion and amortization expense 243.0 241.1  
Assets $ 23,165.7   $ 22,924.0
Schedule of Segment Reporting Information
Segment information for the three months ended March 31, 2025 and 2024 was as follows:
PhosphatePotashMosaic Fertilizantes
Corporate, Eliminations and Other(a)
Total
Three months ended March 31, 2025
Net sales to external customers$964.8 $570.2 $933.8 $152.1 $2,620.9 
Intersegment net sales133.8 — — (133.8)— 
Net sales1,098.6 570.2 933.8 18.3 2,620.9 
Cost of goods sold(b)
931.3 401.6 806.8 (7.2)2,132.5 
Gross margin167.3 168.6 127.0 25.5 488.4 
Canadian resource taxes— 47.3 — — 47.3 
Gross margin (excluding Canadian resource taxes)167.3 215.9 127.0 25.5 535.7 
Selling, general and administrative(c)
12.1 7.8 23.2 79.5 122.6 
Other operating expenses(d)
15.8 4.1 5.3 2.1 27.3 
Operating earnings (loss)139.4 156.8 98.5 (56.2)338.5 
Capital expenditures236.3 45.1 59.2 0.2 340.8 
Depreciation, depletion and amortization expense113.2 81.0 38.1 10.7 243.0 
Three months ended March 31, 2024
Net sales to external customers$1,023.0 $634.7 $886.4 $135.3 $2,679.4 
Intersegment net sales145.7 8.4 — (154.1)— 
Net sales1,168.7 643.1 886.4 (18.8)2,679.4 
Cost of goods sold(b)
1,009.3 431.4 811.2 28.3 2,280.2 
Gross margin159.4 211.7 75.2 (47.1)399.2 
Canadian resource taxes— 64.5 — — 64.5 
Gross margin (excluding Canadian resource taxes)159.4 276.2 75.2 (47.1)463.7 
Selling, general and administrative(c)
12.8 8.5 29.9 55.6 106.8 
Other operating expenses(d)
106.3 5.2 3.3 4.7 119.5 
Operating earnings (loss)40.3 198.0 42.0 (107.4)172.9 
Capital expenditures197.7 96.7 81.8 6.8 383.0 
Depreciation, depletion and amortization expense116.9 81.7 40.0 2.5 241.1 
Total Assets(e)
As of March 31, 2025$9,497.3 $6,517.3 $4,697.8 $2,453.3 $23,165.7 
As of December 31, 20249,419.5 6,480.6 4,372.0 2,651.9 22,924.0 

______________________________
(a)The “Corporate, Eliminations and Other” category includes the results of our ancillary distribution operations in India and China. For the three months ended March 31, 2025, distribution operations in India and China collectively had revenue of $147.4 million and gross margin of $20.3 million. For the three months ended March 31, 2024, distribution operations in India and China collectively had revenue of $129.3 million and gross margin of $7.6 million. 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 Corporate to the Phosphate and Potash segments. As a result, the December 31, 2024 balances have been recast to reflect these changes.
    
Revenue from External Customers by Geographic Areas [Table Text Block]
Financial information relating to our operations by geographic area is as follows:
 Three Months Ended 
 
March 31,
(in millions)20252024
Net sales(a):
Brazil$907.0 $852.8 
Canpotex(b)
215.5 220.8 
China136.4 124.0 
Canada124.9 142.0 
Japan32.1 41.3 
Paraguay28.6 36.9 
Argentina24.1 11.2 
Australia20.7 16.9 
Colombia20.4 32.6 
Dominican Republic8.5 — 
Mexico5.9 22.4 
India5.7 7.2 
Peru4.1 11.6 
Honduras3.5 5.0 
Other20.7 10.5 
Total international countries1,558.1 1,535.2 
United States1,062.8 1,144.2 
Consolidated$2,620.9 $2,679.4 
______________________________
(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.
    
Sales by Product Type
Net sales by product type are as follows:
 Three Months Ended 
 
March 31,
(in millions)20252024
Sales by product type:
Phosphate Crop Nutrients$720.3 $671.1 
Potash Crop Nutrients507.4 682.6 
Crop Nutrient Blends340.1 352.2 
Performance Products(a)
497.8 466.8 
Phosphate Rock119.9 40.8 
Other(b)
435.4 465.9 
$2,620.9 $2,679.4 
____________________________________________
(a)Includes sales of MicroEssentials®, K-Mag® and Aspire®.
(b)Includes sales of industrial potash, feed products, nitrogen and other products.
    
Phosphates segment      
Segment Reporting Information [Line Items]      
Canadian resource taxes $ 0.0 0.0  
Gross margin (excluding canadian resource taxes) 167.3 159.4  
Operating earnings (loss) 139.4 40.3  
Segment, Expenditure, Addition to Long-Lived Assets 236.3 197.7  
Depreciation, depletion and amortization expense 113.2 116.9  
Assets 9,497.3   9,419.5
Potash segment      
Segment Reporting Information [Line Items]      
Canadian resource taxes 47.3 64.5  
Gross margin (excluding canadian resource taxes) 215.9 276.2  
Operating earnings (loss) 156.8 198.0  
Segment, Expenditure, Addition to Long-Lived Assets 45.1 96.7  
Depreciation, depletion and amortization expense 81.0 81.7  
Assets 6,517.3   6,480.6
Mosaic Fertilizantes segment      
Segment Reporting Information [Line Items]      
Canadian resource taxes 0.0 0.0  
Gross margin (excluding canadian resource taxes) 127.0 75.2  
Operating earnings (loss) 98.5 42.0  
Segment, Expenditure, Addition to Long-Lived Assets 59.2 81.8  
Depreciation, depletion and amortization expense 38.1 40.0  
Assets 4,697.8   4,372.0
Corporate, other and intersegment eliminations      
Segment Reporting Information [Line Items]      
Canadian resource taxes 0.0 0.0  
Gross margin (excluding canadian resource taxes) 25.5 (47.1)  
Operating earnings (loss) (56.2) (107.4)  
Segment, Expenditure, Addition to Long-Lived Assets 0.2 6.8  
Depreciation, depletion and amortization expense 10.7 2.5  
Assets 2,453.3   $ 2,651.9
Product      
Segment Reporting Information [Line Items]      
Net Sales [2] 2,620.9 2,679.4  
Intersegment Sales 0.0 0.0  
Revenues 2,620.9 2,679.4  
Gross margin 488.4 399.2  
Product | Phosphates segment      
Segment Reporting Information [Line Items]      
Net Sales 964.8 1,023.0  
Intersegment Sales 133.8 145.7  
Revenues 1,098.6 1,168.7  
Gross margin 167.3 159.4  
Product | Potash segment      
Segment Reporting Information [Line Items]      
Net Sales 570.2 634.7  
Intersegment Sales 0.0 8.4  
Revenues 570.2 643.1  
Gross margin 168.6 211.7  
Product | Mosaic Fertilizantes segment      
Segment Reporting Information [Line Items]      
Net Sales 933.8 886.4  
Intersegment Sales 0.0 0.0  
Revenues 933.8 886.4  
Gross margin 127.0 75.2  
Product | Corporate, other and intersegment eliminations      
Segment Reporting Information [Line Items]      
Net Sales 152.1 135.3  
Intersegment Sales (133.8) (154.1)  
Revenues 18.3 (18.8)  
Gross margin 25.5 (47.1)  
Product | Corporate, other and intersegment eliminations | China and India distribution operations      
Segment Reporting Information [Line Items]      
Revenues 147.4 129.3  
Gross margin $ 20.3 $ 7.6  
[1] CODM, was revised to no longer include intercompany assets and segment cash and to include an allocation of certain fixed assets from Corporate to the Phosphate and Potash segments. As a result, the December 31, 2024 balances have been recast to reflect these changes.
[2] Revenues are attributed to countries based on location of customer.
v3.25.1
Organization and Nature of Business (Details)
Dec. 24, 2024
Jan. 08, 2018
MWSPC Joint Venture | MWSPC Joint Venture    
Schedule of Equity Method Investments [Line Items]    
Mosaic's ownership percentage 25.00%  
Miski Mayo Joint Venture    
Schedule of Equity Method Investments [Line Items]    
Business Combination, Step Acquisition, Equity Interest in Acquiree, Percentage   75.00%
v3.25.1
Other Financial Statement Data (Details) - USD ($)
$ in Millions
Mar. 31, 2025
Dec. 31, 2024
Other current assets    
Income and other taxes receivable $ 229.7 $ 234.9
Prepaid expenses 231.4 299.8
Other 24.5 29.1
Total other current assets 485.6 563.8
Restricted Cash Equivalent, Noncurrent 10.9 17.3
Other assets    
MRO inventory 171.7 169.0
Marketable securities held in trust 726.7 708.7
Operating Lease, Right-of-Use Asset 222.7 220.0
Indemnification asset 18.2 18.4
Nontrade Receivables, Noncurrent 12.7 12.9
Other 234.9 207.7
Total other assets 1,550.7 1,520.3
Dividends Payable 73.5 74.1
Accrued liabilities    
Payroll and employee benefits 117.1 161.8
Asset retirement obligations 325.4 352.8
Customer Advances, Current [1] 304.7 270.7
Contractual Obligation For Equity Method Investment 131.2 204.7
Operating Lease, Liability, Current 32.6 43.9
Servicing Liability 0.0 0.0
Other 519.0 612.1
Accrued liabilities 1,503.5 1,720.1
Other noncurrent liabilities    
Asset retirement obligations 2,231.5 2,219.4
Operating Lease, Liability, Noncurrent 193.2 181.2
Accrued pension and postretirement benefits 98.3 91.6
Unrecognized tax benefits 13.0 17.7
Other 347.1 353.0
Total other noncurrent liabilities 2,883.1 2,862.9
Cloud computing asset $ 152.9 $ 166.3
[1] 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. 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.
v3.25.1
Earnings Per Share (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Earnings Per Share [Abstract]    
Net income attributable to Mosaic $ 238.1 $ 45.2
Basic weighted average number of shares outstanding 317.0 322.1
Dilutive impact of share-based awards 1.2 1.4
Diluted weighted average number of shares outstanding 318.2 323.5
Basic net earnings per share attributable to Mosaic $ 0.75 $ 0.14
Diluted net earnings per share attributable to Mosaic $ 0.75 $ 0.14
Shares subject to issuance upon exercise of stock options excluded from the calculation of diluted earnings per share 0.4 0.6
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]    
Shares subject to issuance upon exercise of stock options excluded from the calculation of diluted earnings per share 0.4 0.6
Debt securities    
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]    
Debt Securities, Available-for-sale, Realized Gain $ 0.4 $ 10.6
v3.25.1
Inventories (Details) - USD ($)
$ in Millions
Mar. 31, 2025
Dec. 31, 2024
Inventory Disclosure [Abstract]    
Raw materials $ 224.4 $ 148.6
Work in process 1,019.1 941.1
Finished goods 1,318.4 1,239.8
Other Inventory, Inventory at off Site Premises, Gross [1] 40.6 53.5
Operating materials and supplies 180.1 165.4
Total Inventory $ 2,782.6 $ 2,548.4
[1] Final price deferred is product that has shipped to customers, but the price has not yet been agreed upon.
v3.25.1
Goodwill (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2025
Dec. 31, 2024
Goodwill [Line Items]    
Goodwill, net of accumulated amortization $ 1,061.1  
Foreign currency translation 4.0  
Goodwill, net of accumulated amortization 1,065.1  
Goodwill, Gross 1,100.0 $ 1,100.0
Potash segment    
Goodwill [Line Items]    
Goodwill, net of accumulated amortization 955.4  
Foreign currency translation 2.3  
Goodwill, net of accumulated amortization 957.7  
Mosaic Fertilizantes segment    
Goodwill [Line Items]    
Goodwill, net of accumulated amortization 93.6  
Foreign currency translation 1.7  
Goodwill, net of accumulated amortization 95.3  
Corporate, other and intersegment eliminations    
Goodwill [Line Items]    
Goodwill, net of accumulated amortization 12.1  
Foreign currency translation 0.0  
Goodwill, net of accumulated amortization $ 12.1  
v3.25.1
Marketable Securities Held in Trusts - Maturity Dates and Realized Gain and Loss (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Dec. 31, 2024
Available-for-sale Securities, Debt Maturities, Fair Value, Fiscal Year Maturity      
Debt Securities, Available-for-sale $ 709.5   $ 695.2
Debt securities      
Debt Securities, Available-for-sale [Line Items]      
Debt Securities, Available-for-sale, Realized Loss 0.5 $ 6.8  
Debt Securities, Available-for-sale, Realized Gain 0.4 $ 10.6  
Available-for-sale Securities, Debt Maturities, Fair Value, Fiscal Year Maturity      
Available-for-sale debt maturities due within one year, fair value 18.9    
Available-for-sale debt maturities, after 1 but within 5 years, fair value 225.1    
Available-for-sale debt maturities, after 5 but within 10 years, fair value 414.3    
Available-for-sale debt maturities, after 10 years, fair value 48.9    
Debt Securities, Available-for-sale $ 707.2    
v3.25.1
Marketable Securities Held in Trusts (Details)
$ in Millions
Mar. 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    
Available-for-sale Securities, Fair Value to Amortized Cost Basis      
Amortized cost $ 716.3 $ 712.3  
Gross unrealized gains 2.8 1.5  
Gross unrealized losses (9.6) (18.6)  
Debt Securities, Available-for-sale 709.5 695.2  
Cash and Cash Equivalents | Level 1      
Available-for-sale Securities, Fair Value to Amortized Cost Basis      
Amortized cost 2.3 3.1  
Gross unrealized gains 0.0 0.0  
Gross unrealized losses 0.0 0.0  
Debt Securities, Available-for-sale 2.3 3.1  
Corporate debt securities | Level 2      
Available-for-sale Securities, Fair Value to Amortized Cost Basis      
Amortized cost 206.5 203.3  
Gross unrealized gains 1.6 0.8  
Gross unrealized losses (5.1) (6.8)  
Debt Securities, Available-for-sale 203.0 197.3  
Municipal bonds | Level 2      
Available-for-sale Securities, Fair Value to Amortized Cost Basis      
Amortized cost 211.8 210.8  
Gross unrealized gains 0.7 0.7  
Gross unrealized losses (3.9) (4.0)  
Debt Securities, Available-for-sale 208.6 207.5  
U.S. government bonds | Level 2      
Available-for-sale Securities, Fair Value to Amortized Cost Basis      
Amortized cost 295.7 295.1  
Gross unrealized gains 0.5 0.0  
Gross unrealized losses (0.6) (7.8)  
Debt Securities, Available-for-sale 295.6 $ 287.3  
Debt securities      
Available-for-sale Securities, Fair Value to Amortized Cost Basis      
Debt Securities, Available-for-sale $ 707.2    
v3.25.1
Marketable Securities Held in Trusts - Continuous Loss Position (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Dec. 31, 2024
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss      
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value $ 133.9   $ 136.9
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss (7.2)   (8.4)
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months 338.7   436.7
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss 2.4   10.2
Corporate debt securities      
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss      
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value 75.6   81.3
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss (4.9)   (6.1)
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months 25.6   53.4
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss 0.2   0.7
Municipal bonds      
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss      
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value 58.3   55.6
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss (2.3)   (2.3)
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months 91.8   102.4
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss 0.6   1.7
U.S. government bonds      
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss      
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months 221.3   280.9
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss 1.6   $ 7.8
Debt securities      
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss      
Debt Securities, Available-for-sale, Realized Loss $ 0.5 $ 6.8  
v3.25.1
Short-term Debt (Details)
$ in Millions
 3 Months Ended
Mar. 31, 2025
USD ($)
Mar. 31, 2024
USD ($)
Dec. 31, 2024
USD ($)
Short-term Debt [Line Items]      
Structured accounts payable arrangements $ 383.8   $ 402.3
Inventory Financing Arrangement, Maximum Amount $ 625.0    
Inventory Financing Arrangement, Maximum Borrowing Capacity, Percentage 0.90    
Proceeds From Inventory Financing Arrangements $ 401.6 $ 701.2  
Servicing Liability $ 0.0   0.0
Remaining Average Term, Number of Days 16 days    
Term Loan      
Short-term Debt [Line Items]      
Long-Term Debt, Gross $ 700.0    
Long-Term Debt, Current Maturities $ 570.0   570.0
Maximum      
Short-term Debt [Line Items]      
Inventory Financing Arrangement, Number Of Days 180 days    
Duration Commercial Paper Note Program, Number Of Days 397 days    
Duration, Number of Days 180 days    
Minimum      
Short-term Debt [Line Items]      
Duration, Number of Days 144 days    
Structured Accounts Payable [Member]      
Short-term Debt [Line Items]      
Structured accounts payable arrangements     402.3
Receivable Purchasing Agreement [Domain]      
Short-term Debt [Line Items]      
Short-term Debt, Maximum Amount Outstanding During Period $ 600.0    
Receivable Purchasing Arrangements Sold 102.1 125.9  
Inventory Financing Arrangement      
Short-term Debt [Line Items]      
Proceeds From Inventory Financing Arrangements 401.6 $ 199.5  
Commercial Paper      
Short-term Debt [Line Items]      
Commerical Paper Note Program, Maximum Amount 2,500.0    
Commercial Paper $ 828.3   $ 609.2
Debt, Weighted Average Interest Rate 4.68%   4.74%
Remaining Average Term, Number of Days   10 days  
v3.25.1
Asset Retirement Obligation (Details)
$ in Millions
 3 Months Ended 6 Months Ended
Mar. 31, 2025
USD ($)
Mar. 31, 2024
USD ($)
Jun. 30, 2024
USD ($)
Dec. 31, 2024
USD ($)
Mar. 07, 2024
USD ($)
Dec. 31, 2023
USD ($)
Jul. 27, 2018
USD ($)
ARO Loss Contingencies [Line Items]              
Asset Retirement Obligation, Liabilities Incurred $ 5.8   $ 29.8        
Number Of Consent Decrees 2            
Asset Retirement Obligation $ 2,556.9     $ 2,572.2   $ 2,213.4  
Surety Bonds Outstanding Delivered To EPA         $ 327.1    
Asset retirement obligations $ 2,231.5     2,219.4      
Number Of Decades Remaining For Trust 3            
Asset Retirement Obligation, Liabilities Settled $ (72.1)   (253.8)        
Accretion expense for asset retirement obligations 32.2 $ 27.2 111.2        
Asset Retirement Obligation, Revision of Estimate 2.6   541.4        
Asset Retirement Obligation, Foreign Currency Translation Gain (Loss) 16.2   $ (69.8)        
Asset retirement obligations 325.4     352.8      
Unfavorable Regulatory Action | 2015 Consent Decrees With EPA              
ARO Loss Contingencies [Line Items]              
Asset retirement obligations, undiscounted       2,300.0      
Asset Retirement Obligation       1,100.0      
Bonnie Facility Trust [Member]              
ARO Loss Contingencies [Line Items]              
Assets Held-in-trust, Current             $ 21.0
Plant City and Bonnie Facilities              
ARO Loss Contingencies [Line Items]              
Asset retirement obligations $ 349.6     $ 368.7      
v3.25.1
Income Taxes (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2025
Dec. 31, 2024
Interest And Penalties [Abstract]    
Change in unrecognized tax benefit $ 1.6  
Unrecognized tax benefits 12.6  
Unrecognized tax benefits that would impact effective tax rate 9.8  
Unrecognized tax benefits, income tax penalties and interest accrued 4.8 $ 5.4
Income Tax (Expense) Benefit, Continuing Operations [Abstract]    
Effective income tax rate reconciliation, other expense (benefit) reconciling items, amount 1.2  
Domestic Tax Jurisdiction    
Income Tax (Expense) Benefit, Continuing Operations [Abstract]    
Effective income tax rate reconciliation, other expense (benefit) reconciling items, amount $ 26.3  
v3.25.1
Derivatives - Gross Assets and Liabilities Position (Details)
$ in Millions
Mar. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
Derivative [Line Items]    
Gross asset position $ 5.3 $ 3.1
Gross liability position 32.0 87.8
Foreign Exchange Contract    
Derivative [Line Items]    
Derivative, Notional Amount 1,654.3 1,377.3
Foreign Exchange Contract | Fair Value, Recurring [Member]    
Derivative [Line Items]    
Gross asset position 5.3 3.1
Gross liability position $ 32.0 $ 86.1
Interest Rate Swap    
Derivative [Line Items]    
Number of Interest Rate Derivatives Held 0 0
Commodity Contract (MMbtu)    
Derivative [Line Items]    
Derivative, Nonmonetary Notional Amount 0.0 2.5
Commodity Contract (MMbtu) | Fair Value, Recurring [Member]    
Derivative [Line Items]    
Gross asset position $ 0.0 $ 0.0
Gross liability position $ 0.0 $ 1.7
v3.25.1
Credit Risk Related Contingent Features (Details) - USD ($)
$ in Millions
Mar. 31, 2025
Dec. 31, 2024
Derivative, Credit Risk Related Contingent Features [Abstract]    
The aggregate fair value of all derivative instruments with credit-risk-related contingent features that were in a liability position $ 25.4 $ 58.1
Required collateral assets to be posted if the credit-risk contingent features of these underlying agreements were triggered $ 21.7  
v3.25.1
Fair Value Measurements (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2025
Dec. 31, 2024
Fair Value, Assets, Liabilities and Stockholders' Equity Measured on Recurring Basis [Abstract]    
Gross asset position $ 5.3 $ 3.1
Gross liability position $ 32.0 87.8
Fair Value, Recurring [Member] | Foreign Exchange Contract    
Fair Value, Assets, Liabilities and Stockholders' Equity Measured on Recurring Basis [Abstract]    
Average maturity of foreign currency derivative instruments 18 months  
Gross asset position $ 5.3 3.1
Gross liability position 32.0 86.1
Fair Value, Recurring [Member] | Commodity Contract    
Fair Value, Assets, Liabilities and Stockholders' Equity Measured on Recurring Basis [Abstract]    
Gross asset position 0.0 0.0
Gross liability position $ 0.0 $ 1.7
v3.25.1
Fair Value Financial Instruments (Details) - USD ($)
$ in Millions
Mar. 31, 2025
Dec. 31, 2024
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Equity securities and investments in nonconsolidated companies $ 1,418.1 $ 1,533.4
Term Loan    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Long-Term Debt, Current Maturities 570.0 570.0
Carrying Amount [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash and cash equivalents 259.2 272.8
Receivables, net 1,067.4 1,113.3
Equity securities and investments in nonconsolidated companies 1,370.2 1,486.8
Accounts payable 936.0 1,156.5
Structured accounts payable arrangements 383.8 402.3
Short-term debt 1,234.4 847.1
Long-term debt, including current portion 3,363.2 3,377.6
Fair Value [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash and cash equivalents 259.2 272.8
Receivables, net 1,067.4 1,113.3
Equity securities and investments in nonconsolidated companies 1,370.2 1,486.8
Accounts payable 936.0 1,156.5
Structured accounts payable arrangements 383.8 402.3
Short-term debt 1,234.4 847.1
Long-term debt, including current portion $ 3,349.5 $ 3,324.1
v3.25.1
Related Party Transactions (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Dec. 31, 2024
Related Party Transaction [Line Items]      
Indemnification asset $ 18.2   $ 18.4
Related Party      
Related Party Transaction [Line Items]      
Transactions with non-consolidated companies included in cost of sales 172.8 $ 260.8  
Revenues 226.4 $ 236.6  
Amounts due to related parties $ 6.2   $ 46.5
v3.25.1
Contingencies (Details) - USD ($)
$ in Millions
Mar. 31, 2025
Dec. 31, 2024
Applicability, Impact and Conclusion of Environmental Loss Contingencies [Abstract]    
Environmental contingency accrual $ 172.1 $ 197.5
Loss Contingencies [Line Items]    
Accrued Environmental Loss Contingencies, Noncurrent $ 102.1 106.7
Environmental Loss Contingency, Statement of Financial Position [Extensible Enumeration] Accrued liabilities  
Environmental Loss Contingency, Current, Statement of Financial Position [Extensible Enumeration] Accrued liabilities  
Environmental Loss Contingency, Noncurrent, Statement of Financial Position [Extensible Enumeration] Other noncurrent liabilities  
Accrued Environmental Loss Contingencies, Current $ 70.0 $ 90.8
New Wales Phase II East Stack    
Loss Contingencies [Line Items]    
Maximum potential liabilitiy 8.6  
New Wales Phase II West Stack    
Loss Contingencies [Line Items]    
Maximum potential liabilitiy 67.6  
Brazilian subsidiary judicial and administrative proceedings    
Loss Contingencies [Line Items]    
Maximum potential liabilitiy 83.0  
Brazilian subsidiary labor claims    
Loss Contingencies [Line Items]    
Loss Contingency Accrual 63.1  
Maximum | Brazilian subsidiary judicial and administrative proceedings    
Loss Contingencies [Line Items]    
Maximum potential liabilitiy 623.1  
Maximum | Brazilian Non Income Tax Proceedings    
Loss Contingencies [Line Items]    
Maximum potential liabilitiy 597.4  
Maximum | Brazilian Non Income Tax Proceedings | Indemnification Agreement Vale S.A.    
Loss Contingencies [Line Items]    
Maximum potential liabilitiy 208.4  
Maximum | Brazilian Non Income Tax Proceedings | PIS And Cofins Cases    
Loss Contingencies [Line Items]    
Maximum potential liabilitiy 355.4  
Maximum | Brazilian subsidiary labor claims    
Loss Contingencies [Line Items]    
Maximum potential liabilitiy $ 410.4  
v3.25.1
Business Segments (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Disaggregation of Revenue [Line Items]    
Net Sales $ 2,620.9 $ 2,679.4
Cost of goods sold 2,132.5 2,280.2
Gross margin 488.4 399.2
Selling, general and administrative expenses 122.6 106.8
Other operating expense 27.3 119.5
Product    
Disaggregation of Revenue [Line Items]    
Net Sales [1] 2,620.9 2,679.4
Revenues 2,620.9 2,679.4
Cost of goods sold [2] 2,132.5 2,280.2
Gross margin 488.4 399.2
Selling, general and administrative expenses [3] 122.6 106.8
Other operating expense [4] 27.3 119.5
Product | Corporate, other and intersegment eliminations    
Disaggregation of Revenue [Line Items]    
Net Sales 152.1 135.3
Revenues 18.3 (18.8)
Cost of goods sold [2] (7.2) 28.3
Gross margin 25.5 (47.1)
Selling, general and administrative expenses [3] 79.5 55.6
Other operating expense [4] (2.1) (4.7)
Product | Corporate, other and intersegment eliminations | China and India distribution operations    
Disaggregation of Revenue [Line Items]    
Revenues 147.4 129.3
Gross margin 20.3 7.6
Product | Phosphates segment    
Disaggregation of Revenue [Line Items]    
Net Sales 964.8 1,023.0
Revenues 1,098.6 1,168.7
Cost of goods sold [2] 931.3 1,009.3
Gross margin 167.3 159.4
Selling, general and administrative expenses [3] 12.1 12.8
Other operating expense [4] (15.8) (106.3)
Product | Potash segment    
Disaggregation of Revenue [Line Items]    
Net Sales 570.2 634.7
Revenues 570.2 643.1
Cost of goods sold [2] 401.6 431.4
Gross margin 168.6 211.7
Selling, general and administrative expenses [3] 7.8 8.5
Other operating expense [4] (4.1) (5.2)
Product | Mosaic Fertilizantes segment    
Disaggregation of Revenue [Line Items]    
Net Sales 933.8 886.4
Revenues 933.8 886.4
Cost of goods sold [2] 806.8 811.2
Gross margin 127.0 75.2
Selling, general and administrative expenses [3] 23.2 29.9
Other operating expense [4] (5.3) (3.3)
Product | Canada | Transferred at Point in Time    
Disaggregation of Revenue [Line Items]    
Net Sales [1] $ 124.9 $ 142.0
[1] Revenues are attributed to countries based on location of customer.
[2] The primary components of cost of goods sold are raw material purchases, including sulfur and ammonia, conversion costs and transportation costs.
[3] Selling, general and administrative expenses include nonmanufacturing payroll expense and professional services expense.
[4] Other operating expenses typically relate to five major categories: (1) AROs, (2) environmental and legal reserves, (3) idle facility costs, (4) insurance reimbursements, and (5) gain/loss on sale or disposal of fixed assets.
v3.25.1
Disaggregation of Revenue (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Disaggregation of Revenue [Line Items]    
Net Sales $ 2,620.9 $ 2,679.4
Potash Crop Nutrients | Transferred at Point in Time    
Disaggregation of Revenue [Line Items]    
Net Sales 507.4 682.6
Phosphate Crop Nutrients | Transferred at Point in Time    
Disaggregation of Revenue [Line Items]    
Net Sales 720.3 671.1
Crop Nutrient Blends | Transferred at Point in Time    
Disaggregation of Revenue [Line Items]    
Net Sales 340.1 352.2
Specialty Products | Transferred at Point in Time    
Disaggregation of Revenue [Line Items]    
Net Sales [1] 497.8 466.8
Phosphate Rock | Transferred at Point in Time    
Disaggregation of Revenue [Line Items]    
Net Sales 119.9 40.8
Other Product Types | Transferred at Point in Time    
Disaggregation of Revenue [Line Items]    
Net Sales [2] 435.4 465.9
Product    
Disaggregation of Revenue [Line Items]    
Net Sales [3] 2,620.9 2,679.4
Brazil | Product | Transferred at Point in Time    
Disaggregation of Revenue [Line Items]    
Net Sales [3] 907.0 852.8
Canpotex [Member] | Product | Transferred at Point in Time    
Disaggregation of Revenue [Line Items]    
Net Sales [3],[4] 215.5 220.8
Canada | Product | Transferred at Point in Time    
Disaggregation of Revenue [Line Items]    
Net Sales [3] 124.9 142.0
India | Product | Transferred at Point in Time    
Disaggregation of Revenue [Line Items]    
Net Sales [3] 5.7 7.2
China | Product | Transferred at Point in Time    
Disaggregation of Revenue [Line Items]    
Net Sales [3] 136.4 124.0
Australia | Product | Transferred at Point in Time    
Disaggregation of Revenue [Line Items]    
Net Sales [3] 20.7 16.9
Mexico | Product | Transferred at Point in Time    
Disaggregation of Revenue [Line Items]    
Net Sales [3] 5.9 22.4
Colombia | Product | Transferred at Point in Time    
Disaggregation of Revenue [Line Items]    
Net Sales [3] 20.4 32.6
Paraguay | Product | Transferred at Point in Time    
Disaggregation of Revenue [Line Items]    
Net Sales [3] 28.6 36.9
Japan | Product | Transferred at Point in Time    
Disaggregation of Revenue [Line Items]    
Net Sales [3] 32.1 41.3
Argentina | Product | Transferred at Point in Time    
Disaggregation of Revenue [Line Items]    
Net Sales [3] 24.1 11.2
Honduras | Product | Transferred at Point in Time    
Disaggregation of Revenue [Line Items]    
Net Sales [3] 3.5 5.0
Other Foreign | Product | Transferred at Point in Time    
Disaggregation of Revenue [Line Items]    
Net Sales [3] 20.7 10.5
Total Foreign | Product | Transferred at Point in Time    
Disaggregation of Revenue [Line Items]    
Net Sales [3] 1,558.1 1,535.2
United States | Product | Transferred at Point in Time    
Disaggregation of Revenue [Line Items]    
Net Sales [3] 1,062.8 1,144.2
Peru | Product | Transferred at Point in Time    
Disaggregation of Revenue [Line Items]    
Net Sales [3] 4.1 11.6
DOMINICAN REPUBLIC | Product | Transferred at Point in Time    
Disaggregation of Revenue [Line Items]    
Net Sales [3] $ 8.5 $ 0.0
[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.
v3.25.1
Share Repurchases (Details) - USD ($)
$ / shares in Units, $ in Millions
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Share Repurchases [Line Items]    
Stock Repurchased and Retired During Period, Shares 0 3,398,700
Treasury Stock Acquired, Average Cost Per Share   $ 31.89
Share Repurchase Program 2022    
Share Repurchases [Line Items]    
Stock Repurchase Program, Authorized Amount $ 3,000.0  
2021 and 2022 Repurchase Program    
Share Repurchases [Line Items]    
Stock Repurchased and Retired During Period, Value   $ 108.4