MOSAIC CO
For the period ended Dec 31, 2023. Filed Feb 22, 2024.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Feb 22, 2024
MOS$22.99+1.0%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
| Years Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Cash Flows from Operating Activities | |||
| Net earnings including noncontrolling interests | $1,209.2 | $3,614.2 | $1,634.9 |
| Adjustments to reconcile net earnings including noncontrolling interests to net cash provided by operating activities: | |||
| Depreciation, depletion and amortization | 960.6 | 933.9 | 812.9 |
| Deferred and other income taxes | (261.2) | 344.4 | 98.8 |
| Equity in net (earnings) of nonconsolidated companies, net of dividends | (31.8) | (191.5) | (2.1) |
| Accretion expense for asset retirement obligations | 96.1 | 81.6 | 71.9 |
| Accretion expense for leases | 23.1 | 15.9 | 13.4 |
| Share-based compensation expense | 33.0 | 27.9 | 29.5 |
| Unrealized (gain) loss on derivatives | (29.0) | 4.3 | 7.2 |
| Foreign currency adjustments | (94.0) | (67.9) | (2.6) |
| Mine closure costs | — | — | 158.1 |
| Loss on sale of securities | 19.4 | 46.6 | — |
| Write down of inventory to net realizable value | 56.7 | 38.0 | — |
| Pension settlement loss | 42.4 | 41.9 | — |
| Gain on sale of business | (56.5) | — | — |
| Other | 37.5 | 39.0 | (5.3) |
| Changes in assets and liabilities: | |||
| Receivables, net | 526.3 | (215.2) | (683.6) |
| Inventories, net | 1,061.4 | (749.6) | (1,067.9) |
| Other current assets and noncurrent assets | (239.2) | (247.4) | (18.0) |
| Accounts payable and accrued liabilities | (1,055.1) | 219.8 | 995.1 |
| Other noncurrent liabilities | 108.3 | (0.1) | 144.7 |
| Net cash provided by operating activities | 2,407.2 | 3,935.8 | 2,187.0 |
| Cash Flows from Investing Activities | |||
| Capital expenditures | (1,402.4) | (1,247.3) | (1,288.6) |
| Purchases of available-for-sale securities - restricted | (1,240.8) | (762.5) | (433.6) |
| Proceeds from sale of available-for-sale securities - restricted | 1,209.1 | 743.0 | 410.1 |
| Proceeds from sale of business | 158.4 | — | — |
| Acquisition of business | (41.0) | — | — |
| Other | (0.5) | 7.2 | (10.2) |
| Net cash used in investing activities | (1,317.2) | (1,259.6) | (1,322.3) |
| Cash Flows from Financing Activities | |||
| Payments of short-term debt | (9,832.0) | (1,761.2) | (726.6) |
| Proceeds from issuance of short-term debt | 10,007.1 | 1,980.5 | 726.6 |
| Payments from inventory financing arrangement | (601.4) | (1,651.5) | — |
| Proceeds from inventory financing arrangement | 601.4 | 1,348.8 | 302.7 |
| Payments of structured accounts payable arrangements | (1,432.9) | (1,476.6) | (1,028.4) |
| Proceeds from structured accounts payable arrangements | 1,048.2 | 1,460.5 | 1,122.7 |
| Collections of transferred receivables | 1,468.6 | 2,352.1 | 445.0 |
| Payments of transferred receivables | (1,468.6) | (2,433.2) | (363.9) |
| Payments of long-term debt | (995.3) | (610.3) | (608.3) |
| Proceeds from issuance of long-term debt | 900.0 | — | — |
| Repurchases of stock | (756.0) | (1,665.2) | (410.9) |
| Cash dividends paid | (351.6) | (197.7) | (103.7) |
| Dividends paid to non-controlling interest | (41.5) | (38.0) | (31.3) |
| Other | (26.5) | 13.1 | (6.0) |
| Net cash used in financing activities | (1,480.5) | (2,678.7) | (682.1) |
| Effect of exchange rate changes on cash | (2.8) | (29.7) | 9.3 |
| Net change in cash, cash equivalents and restricted cash | (393.3) | (32.2) | 191.9 |
| Cash, cash equivalents and restricted cash—beginning of year | 754.1 | 786.3 | 594.4 |
| Cash, cash equivalents and restricted cash—end of year | $360.8 | $754.1 | $786.3 |
F- 38
| Years Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Reconciliation of cash, cash equivalents and restricted cash reported within the consolidated balance sheets to the consolidated statements of cash flows: | |||
| Cash and cash equivalents | $348.8 | $735.4 | $769.5 |
| Restricted cash in other current assets | 8.6 | 8.2 | 8.3 |
| Restricted cash in other assets | 3.4 | 10.5 | 8.5 |
| Total cash, cash equivalents and restricted cash shown in the statement of cash flows | $360.8 | $754.1 | $786.3 |
F- 39
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