MOSAIC CO
For the period ended Dec 31, 2023. Filed Feb 22, 2024.
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FY2023 · Filed Feb 22, 2024
MOS$22.77+1.8%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 7. Results of Operations
The following table shows the results of operations for the years ended December 31, 2023, 2022, and 2021:
| Years Ended December 31, | 2023-2022 | 2022-2021 | |||||||||
| (in millions, except per share data) | 2023 | 2022 | 2021 | Change | Percent | Change | Percent | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales | $13,696.1 | $19,125.2 | $12,357.4 | $(5,429.1) | (28)% | $6,767.8 | 55% | ||||
| Cost of goods sold | 11,485.5 | 13,369.4 | 9,157.1 | (1,883.9) | (14)% | 4,212.3 | 46% | ||||
| Gross margin | 2,210.6 | 5,755.8 | 3,200.3 | (3,545.2) | (62)% | 2,555.5 | 80% | ||||
| Gross margin percentage | 16.1% | 30.1% | 25.9% | (14.0)% | 4.2% | ||||||
| Selling, general and administrative expenses | 500.5 | 498.0 | 430.5 | 2.5 | 1% | 67.5 | 16% | ||||
| Impairment, restructuring and other expenses | — | — | 158.1 | — | NM | (158.1) | (100)% | ||||
| Other operating expenses | 372.0 | 472.5 | 143.2 | (100.5) | (21)% | 329.3 | NM | ||||
| Operating earnings | 1,338.1 | 4,785.3 | 2,468.5 | (3,447.2) | (72)% | 2,316.8 | 94 | ||||
| Interest expense, net | (129.4) | (137.8) | (169.1) | 8.4 | (6)% | 31.3 | (19)% | ||||
| Foreign currency transaction gain (loss) | 194.0 | 97.5 | (78.5) | 96.5 | 99% | 176.0 | NM | ||||
| Other (expense) income | (76.8) | (102.5) | 3.9 | 25.7 | (25)% | (106.4) | NM | ||||
| Earnings from consolidated companies before income taxes | 1,325.9 | 4,642.5 | 2,224.8 | (3,316.6) | (71)% | 2,417.7 | 109 | ||||
| Provision for income taxes | 177.0 | 1,224.3 | 597.7 | (1,047.3) | (86)% | 626.6 | 105 | ||||
| Earnings from consolidated companies | 1,148.9 | 3,418.2 | 1,627.1 | (2,269.3) | (66)% | 1,791.1 | 110% | ||||
| Equity in net earnings of nonconsolidated companies | 60.3 | 196.0 | 7.8 | (135.7) | (69)% | 188.2 | NM | ||||
| Net earnings including noncontrolling interests | 1,209.2 | 3,614.2 | 1,634.9 | (2,405.0) | (67)% | 1,979.3 | 121% | ||||
| Less: Net earnings attributable to noncontrolling interests | 44.3 | 31.4 | 4.3 | 12.9 | 41% | 27.1 | NM | ||||
| Net earnings attributable to Mosaic | $1,164.9 | $3,582.8 | $1,630.6 | $(2,417.9) | (67)% | $1,952.2 | 120% | ||||
| Diluted net earnings per share attributable to Mosaic | $3.50 | $10.06 | $4.27 | $(6.56) | (65)% | $5.79 | 136% | ||||
| Diluted weighted average number of shares outstanding | 333.2 | 356.0 | 381.6 | ||||||||
F- 4
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