MOSAIC CO

Corporate, Eliminations and Other

In addition to our three operating segments, we assign certain costs to Corporate, Eliminations and Other, which is presented separately in Note 25 of our Notes to Consolidated Financial Statements. The Corporate, Eliminations and Other category includes intersegment eliminations, including profit on intersegment sales, unrealized mark-to-market gains and losses on derivatives and the investment in equity securities of Ma’aden, debt expenses, corporate functional costs, the results of the China and India distribution businesses and Mosaic Biosciences sales in China, India and North America.

Gross margin for Corporate, Eliminations and Other was a gain of $102.6 million for the year ended December 31, 2025, compared to a loss of $131.9 million in the same period a year ago. Gross margin was favorably impacted by a $84.7 million net unrealized gain on derivatives in the current year period, primarily foreign currency derivatives, compared to an unrealized loss of $101 million in the prior year period. Distribution operations in India and China had revenues and gross margin of $640.0 million and $88.0 million, respectively, for the year ended December 31, 2025, compared to revenues and gross margin of $519.6 million and $39.7 million, respectively, for the year ended December 31, 2024. China and India gross margin was favorably impacted by higher selling prices, partially offset by the impact of higher product costs in the current year period compared to the prior year.