Stock Analysis on Net
Stock Analysis on Net

Mosaic Co. (NYSE:MOS)

This company has been moved to the archive! The financial data has not been updated since August 2, 2022.

Analysis of Operating Leases

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An operating lease is treated like a rental contract. Neither the leased asset nor the associated liability is reported on the lessee balance sheet, but the rights may be very similar to the rights of an owner. The lessee only records the lease payments as a rental expense in income statement.

Adjustments to Financial Statements for Operating Leases

Mosaic Co., adjustments to financial statements

US$ in thousands

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Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Adjustment to Total Assets
Total assets (as reported) 22,036,400 19,789,800 19,298,500 20,119,200 18,633,400
Add: Operating lease right-of-use asset (before adoption of FASB Topic 842)1 — — — 284,431 265,706
Total assets (adjusted) 22,036,400 19,789,800 19,298,500 20,403,631 18,899,106
Adjustment to Total Debt
Total debt (as reported) 5,025,300 5,218,100 5,354,900 5,101,800 5,613,900
Add: Operating lease liability (before adoption of FASB Topic 842)2 — — — 284,431 265,706
Add: Short-term operating lease obligation 59,700 64,000 67,100 — —
Add: Long-term operating lease obligation 64,300 109,600 127,000 — —
Total debt (adjusted) 5,149,300 5,391,700 5,549,000 5,386,231 5,879,606

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

1, 2 Equal to total present value of future operating lease payments.

Mosaic Co., Financial Data: Reported vs. Adjusted

Adjusted Financial Ratios for Operating Leases (Summary)

Mosaic Co., adjusted financial ratios

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Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Total Asset Turnover1
Reported total asset turnover 0.56 0.44 0.46 0.48 0.40
Adjusted total asset turnover 0.56 0.44 0.46 0.47 0.39
Debt to Equity2
Reported debt to equity 0.47 0.54 0.58 0.49 0.58
Adjusted debt to equity 0.49 0.56 0.60 0.52 0.61
Return on Assets3 (ROA)
Reported ROA 7.40% 3.37% -5.53% 2.34% -0.58%
Adjusted ROA 7.40% 3.37% -5.53% 2.30% -0.57%

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

1 See details »

2 See details »

3 See details »

Financial ratio Description The company
Adjusted total asset turnover An activity ratio calculated as total revenue divided by adjusted total assets. Mosaic Co. adjusted total asset turnover ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.
Adjusted debt to equity A solvency ratio calculated as adjusted total debt divided by total shareholders’ equity. Mosaic Co. adjusted debt to equity ratio improved from 2019 to 2020 and from 2020 to 2021.
Adjusted ROA A profitability ratio calculated as net income divided by adjusted total assets. Mosaic Co. adjusted ROA improved from 2019 to 2020 and from 2020 to 2021.

Mosaic Co., Financial Ratios: Reported vs. Adjusted

Adjusted Total Asset Turnover

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Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
As Reported
Selected Financial Data (US$ in thousands)
Net sales 12,357,400 8,681,700 8,906,300 9,587,300 7,409,400
Total assets 22,036,400 19,789,800 19,298,500 20,119,200 18,633,400
Activity Ratio
Total asset turnover1 0.56 0.44 0.46 0.48 0.40
Adjusted for Operating Leases
Selected Financial Data (US$ in thousands)
Net sales 12,357,400 8,681,700 8,906,300 9,587,300 7,409,400
Adjusted total assets 22,036,400 19,789,800 19,298,500 20,403,631 18,899,106
Activity Ratio
Adjusted total asset turnover2 0.56 0.44 0.46 0.47 0.39

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

2021 Calculations

1 Total asset turnover = Net sales ÷ Total assets
= 12,357,400 ÷ 22,036,400 = 0.56

2 Adjusted total asset turnover = Net sales ÷ Adjusted total assets
= 12,357,400 ÷ 22,036,400 = 0.56

Activity ratio Description The company
Adjusted total asset turnover An activity ratio calculated as total revenue divided by adjusted total assets. Mosaic Co. adjusted total asset turnover ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.

Adjusted Debt to Equity

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
As Reported
Selected Financial Data (US$ in thousands)
Total debt 5,025,300 5,218,100 5,354,900 5,101,800 5,613,900
Total Mosaic stockholders’ equity 10,604,100 9,581,400 9,185,500 10,397,300 9,617,500
Solvency Ratio
Debt to equity1 0.47 0.54 0.58 0.49 0.58
Adjusted for Operating Leases
Selected Financial Data (US$ in thousands)
Adjusted total debt 5,149,300 5,391,700 5,549,000 5,386,231 5,879,606
Total Mosaic stockholders’ equity 10,604,100 9,581,400 9,185,500 10,397,300 9,617,500
Solvency Ratio
Adjusted debt to equity2 0.49 0.56 0.60 0.52 0.61

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

2021 Calculations

1 Debt to equity = Total debt ÷ Total Mosaic stockholders’ equity
= 5,025,300 ÷ 10,604,100 = 0.47

2 Adjusted debt to equity = Adjusted total debt ÷ Total Mosaic stockholders’ equity
= 5,149,300 ÷ 10,604,100 = 0.49

Solvency ratio Description The company
Adjusted debt-to-equity A solvency ratio calculated as adjusted total debt divided by total shareholders’ equity. Mosaic Co. adjusted debt-to-equity ratio improved from 2019 to 2020 and from 2020 to 2021.

Adjusted Return on Assets (ROA)

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
As Reported
Selected Financial Data (US$ in thousands)
Net earnings (loss) attributable to Mosaic 1,630,600 666,100 (1,067,400) 470,000 (107,200)
Total assets 22,036,400 19,789,800 19,298,500 20,119,200 18,633,400
Profitability Ratio
ROA1 7.40% 3.37% -5.53% 2.34% -0.58%
Adjusted for Operating Leases
Selected Financial Data (US$ in thousands)
Net earnings (loss) attributable to Mosaic 1,630,600 666,100 (1,067,400) 470,000 (107,200)
Adjusted total assets 22,036,400 19,789,800 19,298,500 20,403,631 18,899,106
Profitability Ratio
Adjusted ROA2 7.40% 3.37% -5.53% 2.30% -0.57%

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

2021 Calculations

1 ROA = 100 × Net earnings (loss) attributable to Mosaic ÷ Total assets
= 100 × 1,630,600 ÷ 22,036,400 = 7.40%

2 Adjusted ROA = 100 × Net earnings (loss) attributable to Mosaic ÷ Adjusted total assets
= 100 × 1,630,600 ÷ 22,036,400 = 7.40%

Profitability ratio Description The company
Adjusted ROA A profitability ratio calculated as net income divided by adjusted total assets. Mosaic Co. adjusted ROA improved from 2019 to 2020 and from 2020 to 2021.