Analysis of Reportable Segments
Mosaic Co. operates in 3 segments: Phosphates; Potash; and Mosaic Fertilizantes.
Segment Profit Margin
Mosaic Co., profit margin by reportable segment
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Phosphates | 23.97% | -4.72% | -34.90% | 10.67% | 5.34% |
| Potash | 31.85% | 19.88% | 2.17% | 20.89% | 15.18% |
| Mosaic Fertilizantes | 14.66% | 9.95% | 3.50% | 6.06% | 2.84% |
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).
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Phosphates | Phosphates segment profit margin ratio improved from 2019 to 2020 and from 2020 to 2021. |
| Potash | Potash segment profit margin ratio improved from 2019 to 2020 and from 2020 to 2021. | |
| Mosaic Fertilizantes | Mosaic Fertilizantes segment profit margin ratio improved from 2019 to 2020 and from 2020 to 2021. |
Segment Profit Margin: Phosphates
Mosaic Co.; Phosphates; segment profit margin calculation
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||
| Operating earnings | 1,179,800) | (147,100) | (1,131,100) | 414,800) | 191,600) |
| Net sales | 4,922,900) | 3,116,400) | 3,241,300) | 3,886,300) | 3,589,200) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 23.97% | -4.72% | -34.90% | 10.67% | 5.34% |
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 2021 Calculation
Segment profit margin = 100 × Operating earnings ÷ Net sales
= 100 × 1,179,800 ÷ 4,922,900 = 23.97%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Phosphates | Phosphates segment profit margin ratio improved from 2019 to 2020 and from 2020 to 2021. |
Segment Profit Margin: Potash
Mosaic Co.; Potash; segment profit margin calculation
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||
| Operating earnings | 836,600) | 401,500) | 45,800) | 454,100) | 281,300) |
| Net sales | 2,626,800) | 2,019,300) | 2,113,800) | 2,173,900) | 1,852,600) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 31.85% | 19.88% | 2.17% | 20.89% | 15.18% |
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 2021 Calculation
Segment profit margin = 100 × Operating earnings ÷ Net sales
= 100 × 836,600 ÷ 2,626,800 = 31.85%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Potash | Potash segment profit margin ratio improved from 2019 to 2020 and from 2020 to 2021. |
Segment Profit Margin: Mosaic Fertilizantes
Mosaic Co.; Mosaic Fertilizantes; segment profit margin calculation
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||
| Operating earnings | 745,900) | 346,500) | 132,500) | 227,000) | 63,100) |
| Net sales | 5,088,500) | 3,481,600) | 3,782,800) | 3,747,100) | 2,220,100) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 14.66% | 9.95% | 3.50% | 6.06% | 2.84% |
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 2021 Calculation
Segment profit margin = 100 × Operating earnings ÷ Net sales
= 100 × 745,900 ÷ 5,088,500 = 14.66%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Mosaic Fertilizantes | Mosaic Fertilizantes segment profit margin ratio improved from 2019 to 2020 and from 2020 to 2021. |
Segment Capital Expenditures to Depreciation
Mosaic Co., capital expenditures to depreciation by reportable segment
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Phosphates | 1.52 | 1.21 | 1.27 | 0.98 | 1.19 |
| Potash | 1.53 | 1.69 | 1.82 | 1.36 | 1.29 |
| Mosaic Fertilizantes | 2.14 | 1.37 | 1.34 | 0.94 | 1.93 |
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).
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Phosphates | Phosphates segment capital expenditures to depreciation ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level. |
| Potash | Potash segment capital expenditures to depreciation ratio deteriorated from 2019 to 2020 and from 2020 to 2021. | |
| Mosaic Fertilizantes | Mosaic Fertilizantes segment capital expenditures to depreciation ratio improved from 2019 to 2020 and from 2020 to 2021. |
Segment Capital Expenditures to Depreciation: Phosphates
Mosaic Co.; Phosphates; segment capital expenditures to depreciation calculation
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||
| Capital expenditures | 649,900) | 538,100) | 545,200) | 393,900) | 401,000) |
| Depreciation, depletion and amortization expense | 428,700) | 443,400) | 430,100) | 403,700) | 338,000) |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | 1.52 | 1.21 | 1.27 | 0.98 | 1.19 |
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 2021 Calculation
Segment capital expenditures to depreciation = Capital expenditures ÷ Depreciation, depletion and amortization expense
= 649,900 ÷ 428,700 = 1.52
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Phosphates | Phosphates segment capital expenditures to depreciation ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level. |
Segment Capital Expenditures to Depreciation: Potash
Mosaic Co.; Potash; segment capital expenditures to depreciation calculation
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||
| Capital expenditures | 410,100) | 478,200) | 540,100) | 410,500) | 371,600) |
| Depreciation, depletion and amortization expense | 267,800) | 282,400) | 296,300) | 301,500) | 287,200) |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | 1.53 | 1.69 | 1.82 | 1.36 | 1.29 |
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 2021 Calculation
Segment capital expenditures to depreciation = Capital expenditures ÷ Depreciation, depletion and amortization expense
= 410,100 ÷ 267,800 = 1.53
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Potash | Potash segment capital expenditures to depreciation ratio deteriorated from 2019 to 2020 and from 2020 to 2021. |
Segment Capital Expenditures to Depreciation: Mosaic Fertilizantes
Mosaic Co.; Mosaic Fertilizantes; segment capital expenditures to depreciation calculation
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||
| Capital expenditures | 216,100) | 144,900) | 182,300) | 148,200) | 32,700) |
| Depreciation, depletion and amortization expense | 101,200) | 105,700) | 135,800) | 158,500) | 16,900) |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | 2.14 | 1.37 | 1.34 | 0.94 | 1.93 |
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 2021 Calculation
Segment capital expenditures to depreciation = Capital expenditures ÷ Depreciation, depletion and amortization expense
= 216,100 ÷ 101,200 = 2.14
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Mosaic Fertilizantes | Mosaic Fertilizantes segment capital expenditures to depreciation ratio improved from 2019 to 2020 and from 2020 to 2021. |
Net sales
Mosaic Co., net sales by reportable segment
US$ in thousands
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Phosphates | 4,922,900) | 3,116,400) | 3,241,300) | 3,886,300) | 3,589,200) |
| Potash | 2,626,800) | 2,019,300) | 2,113,800) | 2,173,900) | 1,852,600) |
| Mosaic Fertilizantes | 5,088,500) | 3,481,600) | 3,782,800) | 3,747,100) | 2,220,100) |
| Corporate, eliminations and other | (280,800) | 64,400) | (231,600) | (220,000) | (252,500) |
| Total | 12,357,400) | 8,681,700) | 8,906,300) | 9,587,300) | 7,409,400) |
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).
Operating earnings
Mosaic Co., operating earnings by reportable segment
US$ in thousands
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Phosphates | 1,179,800) | (147,100) | (1,131,100) | 414,800) | 191,600) |
| Potash | 836,600) | 401,500) | 45,800) | 454,100) | 281,300) |
| Mosaic Fertilizantes | 745,900) | 346,500) | 132,500) | 227,000) | 63,100) |
| Corporate, eliminations and other | (293,800) | (188,000) | (142,100) | (167,600) | (70,300) |
| Total | 2,468,500) | 412,900) | (1,094,900) | 928,300) | 465,700) |
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).
Capital expenditures
Mosaic Co., capital expenditures by reportable segment
US$ in thousands
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Phosphates | 649,900) | 538,100) | 545,200) | 393,900) | 401,000) |
| Potash | 410,100) | 478,200) | 540,100) | 410,500) | 371,600) |
| Mosaic Fertilizantes | 216,100) | 144,900) | 182,300) | 148,200) | 32,700) |
| Corporate, eliminations and other | 12,500) | 9,400) | 4,600) | 1,900) | 14,800) |
| Total | 1,288,600) | 1,170,600) | 1,272,200) | 954,500) | 820,100) |
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).
Depreciation, depletion and amortization expense
Mosaic Co., depreciation, depletion and amortization expense by reportable segment
US$ in thousands
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Phosphates | 428,700) | 443,400) | 430,100) | 403,700) | 338,000) |
| Potash | 267,800) | 282,400) | 296,300) | 301,500) | 287,200) |
| Mosaic Fertilizantes | 101,200) | 105,700) | 135,800) | 158,500) | 16,900) |
| Corporate, eliminations and other | 15,200) | 16,100) | 20,500) | 20,200) | 23,400) |
| Total | 812,900) | 847,600) | 882,700) | 883,900) | 665,500) |
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).