MOSAIC CO
For the period ended Dec 31, 2024. Filed Mar 3, 2025.
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FY2024 · Filed Mar 3, 2025
MOS$22.77+1.8%Stored close · as of Nov 9, 2026
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Item 7. Results of Operations
The following table shows the results of operations for the years ended December 31, 2024, 2023, and 2022:
| Years Ended December 31, | 2024-2023 | 2023-2022 | |||||||||
| (in millions, except per share data) | 2024 | 2023 | 2022 | Change | Percent | Change | Percent | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales | $11,122.8 | $13,696.1 | $19,125.2 | $(2,573.3) | (19)% | $(5,429.1) | (28)% | ||||
| Cost of goods sold | 9,610.9 | 11,485.5 | 13,369.4 | (1,874.6) | (16)% | (1,883.9) | (14)% | ||||
| Gross margin | 1,511.9 | 2,210.6 | 5,755.8 | (698.7) | (32)% | (3,545.2) | (62)% | ||||
| Gross margin percentage | 13.6% | 16.1% | 30.1% | (2.5)% | (14.0)% | ||||||
| Selling, general and administrative expenses | 496.9 | 500.5 | 498.0 | (3.6) | (1)% | 2.5 | 1% | ||||
| Other operating expenses | 393.5 | 372.0 | 472.5 | 21.5 | 6% | (100.5) | (21)% | ||||
| Operating earnings | 621.5 | 1,338.1 | 4,785.3 | (716.6) | (54)% | (3,447.2) | (72) | ||||
| Interest expense, net | (182.8) | (129.4) | (137.8) | (53.4) | 41% | 8.4 | (6)% | ||||
| Foreign currency transaction (loss) gain | (685.8) | 194.0 | 97.5 | (879.8) | NM | 96.5 | 99% | ||||
| Gain on sale of equity investment | 522.2 | — | — | 522.2 | NM | — | NM | ||||
| Other income (expense) | 40.3 | (76.8) | (102.5) | 117.1 | (152)% | 25.7 | (25)% | ||||
| Earnings from consolidated companies before income taxes | 315.4 | 1,325.9 | 4,642.5 | (1,010.5) | (76)% | (3,316.6) | (71) | ||||
| Provision for income taxes | 186.7 | 177.0 | 1,224.3 | 9.7 | 5% | (1,047.3) | (86) | ||||
| Earnings from consolidated companies | 128.7 | 1,148.9 | 3,418.2 | (1,020.2) | (89)% | (2,269.3) | (66)% | ||||
| Equity in net earnings of nonconsolidated companies | 73.3 | 60.3 | 196.0 | 13.0 | 22% | (135.7) | (69)% | ||||
| Net earnings including noncontrolling interests | 202.0 | 1,209.2 | 3,614.2 | (1,007.2) | (83)% | (2,405.0) | (67)% | ||||
| Less: Net earnings attributable to noncontrolling interests | 27.1 | 44.3 | 31.4 | (17.2) | (39)% | 12.9 | 41% | ||||
| Net earnings attributable to Mosaic | $174.9 | $1,164.9 | $3,582.8 | $(990.0) | (85)% | $(2,417.9) | (67)% | ||||
| Diluted net earnings per share attributable to Mosaic | $0.55 | $3.50 | $10.06 | $(2.95) | (84)% | $(6.56) | (65)% | ||||
| Diluted weighted average number of shares outstanding | 320.7 | 333.2 | 356.0 | ||||||||
F- 4
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