Compass Minerals International INC 10-K Filing

Ticker: CMP · Form: 10-K · Filed: Dec 16, 2024 · CIK: 1227654

Compass Minerals International INC 10-K Filing Summary
FieldDetail
CompanyCompass Minerals International INC (CMP)
Form Type10-K
Filed DateDec 16, 2024
Pages15
Reading Time18 min
Key Dollar Amounts$0.01, $15.74
Sentimentneutral

Sentiment: neutral

FAQ

What type of filing is this?

This is a 10-K filing submitted by Compass Minerals International INC (ticker: CMP) to the SEC on Dec 16, 2024.

What are the key financial figures in this filing?

Key dollar amounts include: $0.01 (ange on which registered Common stock, $0.01 par value CMP The New York Stock Exchan); $15.74 (43 , based on the closing sale price of $15.74 per share, as reported on the New York).

How long is this filing?

Compass Minerals International INC's 10-K filing is 15 pages with approximately 4,411 words. Estimated reading time is 18 minutes.

Where can I view the full 10-K filing?

The complete filing is available on SEC EDGAR. You can also read the AI-decoded analysis with risk assessment and key highlights on ReadTheFiling.

Filing Stats: 4,411 words · 18 min read · ~15 pages · Grade level 13.8 · Accepted 2024-12-16 17:19:23

Key Financial Figures

Filing Documents

, Items 10, 11, 12, 13 and 14

Part III, Items 10, 11, 12, 13 and 14 Auditor Name Auditor Location Auditor Firm ID KPMG LLP Kansas City, MO 185 COMPASS MINERALS INTERNATIONAL, INC. TABLE OF CONTENTS

Page No

PART I Page No. Item 1.

Business

Business 4 Item 1A.

Risk Factors

Risk Factors 13 Item 1B. Unresolved Staff Comments 26 Item 1C. Cybersecurity 26 Item 2.

Properties

Properties 28 Item 3.

Legal Proceedings

Legal Proceedings 59 Item 4. Mine Safety Disclosures 59 PART II Item 5. Market for the Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 61 Item 6. Reserved 62 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 63 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 77 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 79 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 127 Item 9A.

Controls and Procedures

Controls and Procedures 127 Item 9B. Other Information 128 Item 9C. Disclosure Regarding Foreign Jurisdictions That Prevent Inspections 129 PART III Item 10. Directors, Executive Officers and Corporate Governance 130 Item 11.

Executive Compensation

Executive Compensation 130 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 130 Item 13. Certain Relationships and Related Transactions, and Director Independence 130 Item 14. Principal Accounting Fees and Services 130 PART IV Item 15. Exhibits, Financial Statement Schedules 131 Item 16. Form 10-K Summary 137

SIGNATURES

SIGNATURES 138 1 2024 FORM 10-K Table of Contents COMPASS MINERALS INTERNATIONAL, INC. PART I CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS Certain statements in this Form 10-K, including without limitation our or management's beliefs, expectations or opinions; statements regarding future events or future financial performance; our plans, objectives and strateg ies; our outlook, including expected sales volumes and costs; the useful life of our mine properties; conversion of mineral resources into mineral reserves; existing or potential capital expenditures, capital projects and investments; the industry and our competition; projected sources of cash flow; potential leg al liability; proposed or recently enacted legislation and regulatory action; the seasonal distribution of working capital requirements; our reinvestment of foreign earnings outside the United States ("U.S."); repatriation of foreign earnings to the U.S.; payment of future dividends and ability to reinvest in our business; our ability to optimize cash accessibility and minimize tax expense; our debt service requirements; our liquidity needs; realization of potential savings from our restructuring activities; funding obligations for our United Kingdom ("U.K.") pension plan; outcomes of matters with taxing authorities; the seasonality of our business; the effects of climate change on us; and our ability to successfully remediate the material weaknesses in our internal control over financial reporting disclosed in this Form 10-K, are forward-looking statements. Forward-looking statements are those that predict or describe future events or trends and that do not relate solely to historical matters. We use words such as "may," "would," "could," "should," "will," "likely," "expect," "anticipate," "believe," "intend," "plan," "forecast," "outlook," "project," "estimate" and similar expressions suggesting future outcomes or events to identify forward-looking statements or forward-looking

BUSINESS

ITEM 1. BUSINESS COMPANY OVERVIEW Compass Minerals is a leading provider of essential minerals focused on safely delivering where and when it matters to help solve nature's challenges for customers and communities. Our salt products help keep roadways safe during winter weather and are used in numerous other consumer, industrial, chemical and agricultural applications. Our plant nutrition products help improve the quality and yield of crops, while supporting sustainable agriculture. We are also working to develop long-term fire-retardant solutions to help combat wildfires. As of September 30, 2024, we operate 12 production and packaging facilities with nearly 1,900 employees throughout the U.S., Canada and the U.K., including: The largest underground rock salt mine in the world in Goderich, Ontario, Canada; The largest dedicated rock salt mine in the U.K. in Winsford, Cheshire; A solar evaporation facility located near Ogden, Utah, which is both the largest sulfate of potash specialty fertilizer ("SOP") production site and the largest solar salt production site in the Western Hemisphere; and Several mechanical evaporation facilities producing consumer and industrial salt. See Item 2, "Properties," for a discussion of our mining properties, including processing methods, facilities, production and summaries of our mineral resources and reserves, both in the aggregate and for our individual material mining properties. Our Salt segment provides highway deicing salt to customers in North America and the U.K. as well as consumer deicing and water conditioning products, ingredients used in consumer and commercial food preparation and other salt-based products for consumer, industrial, chemical and agricultural applications in North America. In the U.K., we operate a records management business utilizing excavated areas of our Winsford salt mine with one other location in London, England. Our Plant Nutrition segment produces and markets SOP products in various gr

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