The company said Mosaic's net earnings attributable to Mosaic for 2023 were $1.2 billion ($3.50 per diluted share), compared with $3.6 billion ($10.06 per diluted share) for 2022. It said all of its segments were affected by lower average selling prices compared with the prior year.

1. 01

   The company said Mosaic's net earnings attributable to Mosaic for 2023 were $1.2 billion ($3.50 per diluted share), compared with $3.6 billion ($10.06 per diluted share) for 2022. It said all of its segments were affected by lower average selling prices compared with the prior year.

2. 02

   Mosaic said net sales for the Phosphates segment were $4.7 billion in 2023 ($6.2 billion in the prior year), and gross margin was $702.1 million ($1.8 billion in the prior year). The Potash segment reported net sales of $3.2 billion ($5.2 billion in the prior year) and gross margin of $1.2 billion ($2.8 billion in the prior year).

3. 03

   The company said net cash provided by operating activities was $2.4 billion in 2023 ($3.9 billion in the prior year). It said share repurchases of $756.0 million and dividend payments of $393.1 million were part of the $1.5 billion in net cash used in financing activities.

4. 04

   The company said it repaid the $900 million outstanding balance on its 4.25% senior notes in 2023. It also said it issued $400 million of new 5.375% senior notes on December 4, 2023, due 2028. Under a 10-year senior unsecured term loan facility that allows borrowings of up to $700 million, $500 million had been drawn as of December 31, 2023.

Key figures

Fiscal year ended December 31, 2023

Revenue

$13.7B

Operating income

$1.3B

Net income

$1.2B

EPS

$3.50

Gross profit

$2.2B

Operating cash flow

$2.4B

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.