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Mosaic Co. (NYSE:MOS)

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

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity

Mosaic Co., common-size consolidated balance sheet: liabilities and stockholders’ equity

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Short-term debt 1.37 0.00 0.22 0.06 0.03
Current maturities of long-term debt 2.71 2.55 0.24 0.13 1.84
Structured accounts payable arrangements 3.37 3.23 3.84 2.85 2.07
Accounts payable 5.72 3.89 3.53 3.88 2.90
Accrued dividends 0.20 0.10 0.10 0.06 0.06
Payroll and employee benefits 1.07 0.99 0.90 1.08 0.86
Asset retirement obligations 1.01 0.96 0.80 0.68 0.53
Customer prepayments 1.99 1.45 1.38 0.99 0.75
Accrued income and other taxes 0.84 0.42 0.35 0.33 0.01
Short-term operating lease obligation 0.27 0.32 0.35 0.00 0.00
Servicing liability 0.37 0.00 0.00 0.00 0.00
Other 2.81 1.98 1.72 2.29 1.84
Accrued liabilities 8.55% 6.23% 5.61% 5.43% 4.05%
Current liabilities 21.72% 15.90% 13.43% 12.34% 10.90%
Long-term debt, less current maturities 15.35 20.59 23.45 22.32 26.18
Deferred income taxes 4.61 5.36 5.39 5.37 6.00
Asset retirement obligations 6.93 6.08 6.01 5.09 4.09
Long-term operating lease obligation 0.29 0.55 0.66 0.00 0.00
Accrued pension and postretirement benefits 0.52 0.80 0.90 0.73 0.29
Unrecognized tax benefits 0.71 0.23 0.22 0.16 0.18
Other 1.09 1.19 1.40 1.27 0.64
Other noncurrent liabilities 9.54% 8.86% 9.19% 7.25% 5.19%
Noncurrent liabilities 29.50% 34.81% 38.03% 34.95% 37.37%
Total liabilities 51.22% 50.71% 51.46% 47.29% 48.27%
Preferred stock, $0.01 par value, none issued and outstanding 0.00 0.00 0.00 0.00 0.00
Common stock, $0.01 par value 0.02 0.02 0.02 0.02 0.02
Capital in excess of par value 2.17 4.41 4.45 4.90 0.24
Retained earnings 54.52 53.11 51.41 55.00 57.05
Accumulated other comprehensive loss -8.58 -9.13 -8.28 -8.24 -5.70
Total Mosaic stockholders’ equity 48.12% 48.42% 47.60% 51.68% 51.61%
Non-controlling interests 0.66 0.88 0.94 1.03 0.12
Total equity 48.78% 49.29% 48.54% 52.71% 51.73%
Total liabilities and equity 100.00% 100.00% 100.00% 100.00% 100.00%

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).

The overall composition of the balance sheet reflects a strategic shift in the financing structure between 2017 and 2021. While total liabilities have remained relatively stable, fluctuating between 47% and 51% of total liabilities and equity, there is a notable migration from long-term debt toward current operational liabilities.

Current Liabilities Trend
Current liabilities have nearly doubled as a percentage of total liabilities and equity, rising from 10.90% in 2017 to 21.72% in 2021. This increase is primarily driven by a rise in accounts payable, which grew from 2.90% to 5.72%, and accrued liabilities, which increased from 4.05% to 8.55% over the five-year period. Additionally, current maturities of long-term debt showed a net increase from 1.84% to 2.71%.
Long-Term Debt Reduction
A significant downward trend is observed in long-term debt, excluding current maturities, which declined from 26.18% in 2017 to 15.35% in 2021. This represents a substantial reduction in the company's long-term leverage relative to its total capital structure.
Noncurrent Liability Composition
While total noncurrent liabilities decreased from 37.37% to 29.50%, specific components grew. Asset retirement obligations rose from 4.09% to 6.93%, and other noncurrent liabilities increased from 5.19% to 9.54%, indicating a growth in long-term environmental or contractual obligations despite the overall reduction in long-term debt.
Equity and Retained Earnings
Total equity experienced a slight contraction from 51.73% in 2017 to 48.78% in 2021. Retained earnings remained the primary driver of equity, though they decreased slightly from 57.05% to 54.52%. This contraction was further influenced by the widening of accumulated other comprehensive loss, which grew from -5.70% to -8.58% over the analyzed period.

In summary, the financial structure has evolved toward a higher reliance on short-term operational financing and a reduced reliance on long-term debt, while the equity base has remained relatively stable despite an increase in comprehensive losses.

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