Mosaic Co. Files Q2 2024 10-Q
Ticker: MOS · Form: 10-Q · Filed: 2024-08-07T00:00:00.000Z
Sentiment: neutral
Topics: 10-Q, financials, agriculture
TL;DR
MOSAIC Q2 10-Q FILED. FINANCIALS UPDATED.
AI Summary
Mosaic Co. filed its 10-Q for the period ending June 30, 2024. The company's fiscal year ends on December 31st. Key financial data points and dates related to its reporting periods are included in the filing.
Why It Matters
This filing provides investors with an update on Mosaic Co.'s financial performance and position as of the second quarter of 2024.
Risk Assessment
Risk Level: low — This is a standard quarterly financial filing with no immediate red flags.
Key Numbers
- 318,637,582 — Shares Outstanding (As of June 30, 2024)
Key Players & Entities
- MOSAIC CO (company) — Filer
- 20240630 (date) — Period of Report
- 20240807 (date) — Filed as of Date
- TAMPA (location) — Business Address City
FAQ
What is the reporting period for this 10-Q filing?
The Conformed Period of Report is 20240630, meaning the filing covers the period ending June 30, 2024.
When was this 10-Q filed with the SEC?
The filing was made on 20240807.
What is Mosaic Co.'s fiscal year end?
Mosaic Co.'s fiscal year ends on 1231.
What is the company's primary business address?
The business address is 101 EAST KENNEDY BLVD., SUITE 2500, TAMPA, FL 33602.
What is the SIC code for Mosaic Co.?
The Standard Industrial Classification code is 2870, which corresponds to AGRICULTURE CHEMICALS.
Filing Stats: 4,741 words · 19 min read · ~16 pages · Grade level 7 · Accepted 2024-08-07 12:27:19
Key Financial Figures
- $0.01 — ich registered Common Stock, par value $0.01 per share MOS New York Stock Exchange
Filing Documents
- mos-20240630.htm (10-Q) — 1878KB
- exhibit311_20240630.htm (EX-31.1) — 16KB
- exhibit312_20240630.htm (EX-31.2) — 16KB
- exhibit321_20240630.htm (EX-32.1) — 4KB
- exhibit322_20240630.htm (EX-32.2) — 4KB
- exhibit95_20240630.htm (EX-95) — 56KB
- 0001618034-24-000013.txt ( ) — 8793KB
- mos-20240630.xsd (EX-101.SCH) — 45KB
- mos-20240630_cal.xml (EX-101.CAL) — 82KB
- mos-20240630_def.xml (EX-101.DEF) — 276KB
- mos-20240630_lab.xml (EX-101.LAB) — 586KB
- mos-20240630_pre.xml (EX-101.PRE) — 423KB
- mos-20240630_htm.xml (XML) — 1464KB
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements 1 Condensed Consolidated Statements of Earnings (Loss) 1 Condensed Consolidated Statements of Comprehensive Income (Loss) 2 Condensed Consolidated Balance Sheets 3 Condensed Consolidated Statements of Cash Flows 4 Condensed Consolidated Statements of Equity 6 Notes to Condensed Consolidated Financial Statements 7
Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 26
Quantitative and Qualitative Disclosures About Market Risk
Item 3. Quantitative and Qualitative Disclosures About Market Risk 43
Controls and Procedures
Item 4. Controls and Procedures 45
OTHER INFORMATION
PART II. OTHER INFORMATION
Legal Proceedings
Item 1. Legal Proceedings 46
Risk Factors
Item 1A. Risk Factors 48
Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 48
Mine Safety Disclosures
Item 4. Mine Safety Disclosures 49
Other Information
Item 5. Other Information 49
Exhibits
Item 6. Exhibits 50
Signatures
Signatures 51 Table of Contents
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
FINANCIAL STATEMENTS
ITEM 1. FINANCIAL STATEMENTS THE MOSAIC COMPANY CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS (LOSS) (In millions, except per share amounts) (Unaudited) Three months ended Six months ended June 30, 2024 June 30, 2023 June 30, 2024 June 30, 2023 Net sales $ 2,816.6 $ 3,394.0 $ 5,496.0 $ 6,998.3 Cost of goods sold 2,422.6 2,822.9 4,702.8 5,756.8 Gross margin 394.0 571.1 793.2 1,241.5 Selling, general and administrative expenses 128.4 129.9 235.2 257.6 Other operating expense 32.3 72.0 151.8 70.1 Operating earnings 233.3 369.2 406.2 913.8 Interest expense, net ( 46.4 ) ( 36.0 ) ( 94.4 ) ( 77.1 ) Foreign currency transaction (loss) gain ( 267.9 ) 148.5 ( 368.2 ) 199.9 Other income (expense) 6.6 ( 7.1 ) 7.2 ( 16.0 ) (Loss) earnings from consolidated companies before income taxes ( 74.4 ) 474.6 ( 49.2 ) 1,020.6 Provision for income taxes 98.7 108.4 104.9 226.7 (Loss) earnings from consolidated companies ( 173.1 ) 366.2 ( 154.1 ) 793.9 Equity in net earnings of nonconsolidated companies 22.2 12.9 59.7 44.2 Net (loss) earnings including noncontrolling interests ( 150.9 ) 379.1 ( 94.4 ) 838.1 Less: Net earnings attributable to noncontrolling interests 10.6 10.1 21.9 34.3 Net (loss) earnings attributable to Mosaic $ ( 161.5 ) $ 369.0 $ ( 116.3 ) $ 803.8 Basic net (loss) earnings per share attributable to Mosaic $ ( 0.50 ) $ 1.11 $ ( 0.36 ) $ 2.41 Basic weighted average number of shares outstanding 321.2 332.2 321.7 333.8 Diluted net (loss) earnings per share attributable to Mosaic $ ( 0.50 ) $ 1.11 $ ( 0.36 ) $ 2.39 Diluted weighted average number of shares outstanding 321.2 333.7 321.7 336.2 See Notes to Condensed Consolidated Financial Statements 1 Table of Contents THE MOSAIC COMPANY CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (In millions) (Unaudited) Three months ended Six months ended June 30, 2024 June 30, 2023 June 30, 2024 June 30, 2023 Net (loss) earnings including noncontrolling interest $ ( 150.9 ) $