MOSAIC CO

For the period ended Jun 30, 2024. Filed Aug 7, 2024.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Jun 30, 2024 · Filed Aug 7, 2024

MOS$22.99+1.0%Stored close · as of Nov 10, 2026

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Contents

Condensed Consolidated Statements of Cash Flows

	Six months ended
June 30, 2024	June 30, 2023
Cash Flows from Operating Activities:
Net earnings (loss) including noncontrolling interests	$(94.4)	$838.1
Adjustments to reconcile net earnings including noncontrolling interests to net cash provided by operating activities:
Depreciation, depletion and amortization	505.5	464.2
Deferred and other income taxes	39.8	3.7
Equity in net (earnings) of nonconsolidated companies, net of dividends	(44.7)	(19.2)
Accretion expense for asset retirement obligations	54.1	46.0
Share-based compensation expense	21.2	21.0
Unrealized loss (gain) on derivatives	61.3	(40.2)
Foreign currency adjustments	349.5	(154.3)
Gain on sale of business	—	(56.5)
Other	67.8	61.9
Changes in assets and liabilities:
Receivables, net	(78.2)	536.3
Inventories	(169.8)	471.0
Other current and noncurrent assets	(62.2)	(275.8)
Accounts payable and accrued liabilities	38.5	(731.7)
Other noncurrent liabilities	78.6	57.2
Net cash provided by operating activities	767.0	1,221.7
Cash Flows from Investing Activities:
Capital expenditures	(716.9)	(631.8)
Purchases of available-for-sale securities - restricted	(731.1)	(811.8)
Proceeds from sale of available-for-sale securities - restricted	698.0	796.8
Proceeds from sale of business	—	158.4
Acquisition of business	—	(41.0)
Other	13.2	(3.5)
Net cash used in investing activities	(736.8)	(532.9)
Cash Flows from Financing Activities:
Payments of short-term debt	(8,168.2)	(5,295.6)
Proceeds from issuance of short-term debt	8,149.4	5,299.5
Payments of inventory financing arrangement	(701.2)	(601.4)
Proceeds from inventory financing arrangement	1,203.3	601.4
Payments of structured accounts payable arrangements	(417.5)	(771.9)
Proceeds from structured accounts payable arrangements	275.8	595.4
Collections of transferred receivables	226.6	1,177.7
Payments of transferred receivables	(226.5)	(1,087.5)
Payments of long-term debt	(42.5)	(29.1)
Repurchases of stock	(160.4)	(456.0)
Cash dividends paid	(137.4)	(220.1)
Dividends paid to non-controlling interest	(11.8)	(23.7)
Other	(20.3)	(4.3)
Net cash used in financing activities	(30.7)	(815.6)
Effect of exchange rate changes on cash	(10.0)	13.5
Net change in cash, cash equivalents and restricted cash	(10.5)	(113.3)
Cash, cash equivalents and restricted cash - December 31	360.8	754.1
Cash, cash equivalents and restricted cash - June 30	$350.3	$640.8

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Continued)

	Six months ended
	June 30, 2024	June 30, 2023
Reconciliation of cash, cash equivalents and restricted cash reported within the unaudited condensed consolidated balance sheets to the unaudited condensed consolidated statements of cash flows:
Cash and cash equivalents	$322.0	$626.1
Restricted cash in other current assets	16.5	9.5
Restricted cash in other assets	11.8	5.2
Total cash, cash equivalents and restricted cash shown in the unaudited condensed consolidated statement of cash flows	$350.3	$640.8
Supplemental Disclosure of Cash Flow Information:
Cash paid during the period for:
Interest (net of amount capitalized of $19.4 and $15.0 for the six months ended June 30, 2024 and 2023, respectively)	$93.8	$88.2
Income taxes (net of refunds)	174.0	372.9

ContentsView on SEC.gov

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