MOSAIC CO
For the period ended Dec 31, 2025. Filed Feb 27, 2026.
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FY2025 · Filed Feb 27, 2026
MOS$22.99+1.0%Stored close · as of Nov 10, 2026
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Item 7. Results of Operations
The following table shows the results of operations for the years ended December 31, 2025, 2024, and 2023:
| Years Ended December 31, | 2025-2024 | 2024-2023 | |||||||||
| (in millions, except per share data) | 2025 | 2024 | 2023 | Change | Percent | Change | Percent | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales | $12,052.4 | $11,122.8 | $13,696.1 | $929.6 | 8% | $(2,573.3) | (19)% | ||||
| Cost of goods sold | 10,150.5 | 9,610.9 | 11,485.5 | 539.6 | 6% | (1,874.6) | (16)% | ||||
| Gross margin | 1,901.9 | 1,511.9 | 2,210.6 | 390.0 | 26% | (698.7) | (32)% | ||||
| Gross margin percentage | 15.8% | 13.6% | 16.1% | 2.2% | (2.5)% | ||||||
| Selling, general and administrative expenses | 533.9 | 496.9 | 500.5 | 37.0 | 7% | (3.6) | (1)% | ||||
| Loss (gain) on assets sold and to be sold | 157.3 | — | (56.5) | 157.3 | NM | 56.5 | NM | ||||
| Impairment of goodwill | 99.9 | — | — | 99.9 | NM | — | NM | ||||
| Other operating expenses | 289.3 | 393.5 | 428.5 | (104.2) | (26)% | (35.0) | (8)% | ||||
| Operating earnings | 821.5 | 621.5 | 1,338.1 | 200.0 | 32% | (716.6) | (54) | ||||
| Interest expense, net | (187.7) | (182.8) | (129.4) | (4.9) | 3% | (53.4) | 41% | ||||
| Foreign currency transaction gain (loss) | 271.7 | (685.8) | 194.0 | 957.5 | (140)% | (879.8) | NM | ||||
| Gain on sale of equity investment | — | 522.2 | — | (522.2) | (100)% | 522.2 | NM | ||||
| Other income (expense) | 307.4 | 40.3 | (76.8) | 267.1 | NM | 117.1 | (152)% | ||||
| Earnings from consolidated companies before income taxes | 1,212.9 | 315.4 | 1,325.9 | 897.5 | NM | (1,010.5) | (76) | ||||
| Provision for income taxes | 639.8 | 186.7 | 177.0 | 453.1 | NM | 9.7 | 5 | ||||
| Earnings from consolidated companies | 573.1 | 128.7 | 1,148.9 | 444.4 | NM | (1,020.2) | (89)% | ||||
| Equity in net earnings of nonconsolidated companies | 2.3 | 73.3 | 60.3 | (71.0) | (97)% | 13.0 | 22% | ||||
| Net earnings including noncontrolling interests | 575.4 | 202.0 | 1,209.2 | 373.4 | 185% | (1,007.2) | (83)% | ||||
| Less: Net earnings attributable to noncontrolling interests | 34.7 | 27.1 | 44.3 | 7.6 | 28% | (17.2) | (39)% | ||||
| Net earnings attributable to Mosaic | $540.7 | $174.9 | $1,164.9 | $365.8 | NM | $(990.0) | (85)% | ||||
| Diluted net earnings per share attributable to Mosaic | $1.70 | $0.55 | $3.50 | $1.15 | NM | $(2.95) | (84)% | ||||
| Diluted weighted average number of shares outstanding | 318.9 | 320.7 | 333.2 | ||||||||
F- 4
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