Mosaic(MOS)2025-03-03 20:57Production and Capacity - In 2024, the company produced approximately 2.9 million tonnes of phosphoric acid, accounting for about 6% of estimated global annual production and 53% of estimated North American annual output[29]. - The company has a production capacity of approximately 4.5 million tonnes of phosphoric acid per year, representing about 7% of world annual capacity and 60% of North American annual capacity[29]. - The company produced approximately 6.3 million tonnes of concentrated phosphate crop nutrients in 2024, accounting for approximately 66% of estimated North American annual production[31]. - The company’s Florida phosphate rock mines produced approximately 8.9 million tonnes in 2024, representing about 47% of estimated North American annual production[32]. - The company’s U.S. Phosphates operations have a combined annual capacity of 17.2 million tonnes across four mines in North America[32]. - The potash segment has an annualized operational capacity of 11.5 million tonnes, accounting for approximately 14% of world annual capacity and 41% of North American annual operational capacity[48]. - In 2024, potash production totaled 8.8 million tonnes, representing about 12% of estimated world annual production and 35% of estimated North American annual production[48]. - The Brazilian phosphate operations have a production capacity of approximately 1.1 million tonnes of P2O5 per year, with 2024 production totaling approximately 1.0 million tonnes, representing about 89% of Brazilian annual output[57]. - In 2024, Mosaic Fertilizantes produced approximately 2.6 million tonnes of concentrated phosphate crop nutrients, accounting for approximately 48% of estimated Brazilian annual production[61]. Financial Performance and Investments - The company repurchased 7,944,507 shares of Common Stock for approximately 29.63[22]. - The company entered into an agreement with Saudi Arabian Mining Company to exchange its 25% ownership of the Ma'aden Wa'ad al Shamal Phosphate Company for 111,012,433 shares of Ma'aden, valued at approximately 0.5 billion[22]. - The company paid approximately 6.8 million related to the leasing of potash assets and mining rights for Taquari[71]. - The company invested 12 million in investments for 2024[107]. Raw Material Consumption - The company consumed approximately 1.0 million tonnes of ammonia during 2024, with production of one tonne of DAP requiring approximately 0.23 tonnes of ammonia[37]. - The company purchased approximately 3.0 million long tons of sulfur during 2024, which is a key raw material for producing phosphate crop nutrients[35]. - Natural gas usage for potash production totaled 17.2 million MM BTU in 2024, with the Belle Plaine solution mine accounting for approximately 80% of total natural gas requirements[53]. Land and Resource Management - The company has land holdings totaling over 368,000 acres in Florida, providing access to phosphate rock reserves and optimizing the value of its land assets[43]. - The company owns over 34,000 hectares of land across multiple Brazilian states, which supports its phosphate and potash production and fertilizer distribution[72]. - The company has a 62% ownership interest in Fospar, which produces approximately 0.5 million tonnes of SSP per year and operates a deep-water port in Paranagua, Brazil[55]. - The company owns approximately 1% of the Tiplam terminal in Santos, São Paulo, ensuring unloading priority for ammonia and capacity for rock, sulfur, and crop nutrients[68]. Employee and Community Engagement - As of December 31, 2024, the company had a total of 13,765 employees, including 10,454 salaried and 3,311 hourly employees[101]. - Approximately 15% of hourly employees in the U.S. and Canada are covered under collective bargaining agreements that expire in 2025[105]. - The company aims for zero harm to people and zero environmental incidents, implementing a structured approach to manage safety risks[105]. - The company has set global 2030 representation goals to foster a more inclusive workplace and is actively working on initiatives to achieve these goals[107]. - The company has a commitment to employee development, offering training events and educational reimbursement programs to support skill acquisition[107]. - The company has a total of eight collective bargaining agreements with unions covering certain hourly employees in the U.S. and Canada[105]. - The company is focused on creating a diverse and inclusive workplace, with ongoing education as a cornerstone of its strategy[107]. Market and Sales Performance - Mosaic Fertilizantes sold approximately 9.0 million tonnes of crop nutrient products in 2024, accounting for approximately 18% of fertilizer shipments in Brazil[56]. - In 2024, the India and China operations purchased 25,233 tonnes of phosphate-based products and 1,077,567 tonnes of potash products, enhancing market access[73]. - The company sold approximately 325,000 tonnes of blends and distributed another 850,000 tonnes of phosphate and potash crop nutrients in China in 2024[74]. - The company’s entitlement percentage of Canpotex decreased from 36.2% to 34.5% in 2024 due to lower shipments caused by electrical equipment issues[81]. Innovation and Technology - The Mosaic Biosciences platform reached 9 million acres of coverage in key markets in 2024, doubling from the previous year[87]. - The company continued to enhance its internal analytical capabilities for assessing pay equity, revealing 0.4% outliers without adequate justifications[108]. Competitive Position - The company is the world's second largest producer of concentrated phosphate and the largest miner of phosphate rock in the U.S., providing a significant cost advantage[90]. - The company produces ammonia at its Faustina, Louisiana plant, meeting approximately one third of its total ammonia needs in North America[91]. - The company’s potash cost structure is competitive and expected to improve as it completes its potash expansion projects[95].