UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2025 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission File Number: 001-42368 RISING DRAGON ACQUISITION CORP. (Exact name of registrant as specified in its charter) Cayman Islands N/A (St ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission File Number: 001-42368 RISING DRAGON ACQUISITION CORP. Not applicable (Former name or former address, if changed since last report) For the quarterly period ended September 30, 2025 ...

Consensus Cloud Solutions, Inc. Reports Third Quarter 2025 Results Releases Q4 2025 Guidance LOS ANGELES -- Consensus Cloud Solutions, Inc. (NASDAQ: CCSI) today reported financial results for the third quarter of 2025. "Q3 was another solid quarter led by our corporate channel revenue with growth in excess of 6% compared to Q3 2024. We continued to see strong usage of our services, a record number of eFax Protect net additions and consistent revenue retention of approximately 102%. Our operating margins rem ...

CYTOKINETICS REPORTS THIRD QUARTER 2025 FINANCIAL RESULTS AND PROVIDES BUSINESS UPDATE Interactions with FDA Progressing Towards December 26, 2025 PDUFA Date for Aficamten; U.S. Commercial Launch Preparations on Track Ex-U.S. Regulatory Reviews of Aficamten Ongoing in China and E.U. ~$1.25 Billion in Cash, Cash Equivalents and Investments as of September 30, 2025 SOUTH SAN FRANCISCO, Calif., Nov. 5, 2025 - Cytokinetics, Incorporated (Nasdaq: CYTK) reported a management update and financial results for the t ...

Financial Position - Cash, cash equivalents, and marketable securities totaled $1.93 billion as of September 30, 2025, including a $250 million royalty monetization tranche received in June 2025[17] - Cash, cash equivalents, and marketable securities decreased to $1,931,508 from $2,289,299[32] - Working capital declined to $1,731,867 compared to $2,163,718[32] - Total assets decreased to $2,251,920 from $2,558,301[32] - Total liabilities increased significantly to $655,016 from $293,097[32] - Total stockholders' equity decreased to $1,596,904 from $2,265,204[32] Expenses - Research and development expenses increased to $262.5 million for Q3 2025, up from $151.8 million in Q3 2024, primarily due to clinical trial and manufacturing expenses[18] - General and administrative expenses rose to $52.8 million for Q3 2025, compared to $24.0 million in Q3 2024, driven by personnel-related expenses and increased legal costs[19] Net Loss - Net loss for Q3 2025 was $305.2 million, compared to a net loss of $156.3 million in Q3 2024[21] - The company reiterates its full year 2025 GAAP net loss guidance of between $1.03 billion and $1.09 billion, including estimated non-cash stock-based compensation expense of $115 million to $130 million[22] Clinical Trials - The RASolute 302 trial for daraxonrasib in previously treated metastatic pancreatic ductal adenocarcinoma is nearing completion of global enrollment, with data readout expected in 2026[4] - The company initiated RASolute 304, a Phase 3 trial of daraxonrasib as adjuvant treatment for resectable pancreatic ductal adenocarcinoma, focusing on disease-free survival as the primary endpoint[8] - New clinical results support the initiation of RASolute 303, a global Phase 3 trial of daraxonrasib in first-line metastatic pancreatic ductal adenocarcinoma, expected to start this year[7] - The company plans to initiate a registrational trial in 2026 for daraxonrasib in first-line metastatic RAS mutant non-small cell lung cancer in combination with pembrolizumab and chemotherapy[9] - The company anticipates initiating a registrational trial for zoldonrasib in combination with standard chemotherapy in first-line metastatic pancreatic ductal adenocarcinoma in the first half of 2026[12]

Financial Performance - Forward Air Corporation reported consolidated revenue of $632 million for Q3 2025, a decrease of 3.7% from $656 million in Q3 2024[5] - Operating income for the third quarter was $15 million, down from $23 million in the same period last year, representing a decline of 33.9%[5] - Consolidated EBITDA for Q3 2025 was $78 million, compared to $86 million in Q3 2024, reflecting a decrease of 9.8%[6] - Free cash flow for Q3 2025 was $48.9 million, an increase of 16.9% from $41.8 million in Q3 2024[8] - Consolidated EBITDA for the nine months ended September 30, 2025, was $226,451, compared to $238,451 for the same period in 2024, reflecting a slight decrease[34] Segment Performance - The Omni segment achieved its highest revenue of $340 million, an increase of $5 million year-over-year, with reported EBITDA rising by $6 million to $33 million[3] - Total operating revenue for the Omni Logistics segment increased by 1.5% to $339,584,000 for the three months ended September 30, 2025, compared to $334,538,000 in 2024[19] - Income from operations for the Omni Logistics segment rose significantly by 758.2% to $9,749,000, up from $1,136,000 in the same period last year[19] - Total operating expenses for the Omni Logistics segment decreased by 1.1% to $329,835,000 in Q3 2025, down from $333,402,000 in Q3 2024[19] Cash Flow and Liquidity - Liquidity at the end of Q3 2025 was $413 million, up from $368 million at the end of Q2 2025[7] - Cash provided by operations totaled $67 million for the first three quarters of 2025, a significant improvement of $113 million compared to a cash usage of $46 million in the same period last year[7] - Cash and cash equivalents at the end of the period increased to $140,354,000 from $104,903,000 at the end of December 31, 2024[23] - The net cash provided by operating activities of continuing operations was $67,112 for the nine months ended September 30, 2025, compared to a net cash used of $45,770 in the same period of 2024[27] - The company reported a net increase in cash and cash equivalents of $35,088 for the nine months ended September 30, 2025, compared to a decrease of $1,807,904 in 2024[27] Operational Initiatives - The company implemented additional cost reduction initiatives in Q3 2025 to align with current freight demand[2] - The integration of U.S. and Canadian business operations is underway, aiming to create a cohesive One Ground Network[4] - The company expects to achieve and accelerate synergy capture and eliminate costs from its structure as part of its long-term growth strategy[35] - The company plans to enhance shareholder value through improved operational efficiency and cost control measures[35] Market and Risk Factors - Total pounds shipped decreased by 14.1% to 612,449,000 pounds in Q3 2025, down from 713,213,000 pounds in Q3 2024[17] - Revenue per hundredweight increased by 4.0% to $31.70 in Q3 2025, compared to $30.47 in Q3 2024[17] - Drayage revenue per shipment increased by 4.9% to $864 in Q3 2025, compared to $824 in Q3 2024[21] - The company anticipates potential risks including economic factors, integration challenges from acquisitions, and competition affecting future performance[36] Loss and Impairment - Net loss from continuing operations improved to $(23,757,000) in Q3 2025, compared to $(34,198,000) in Q3 2024[25] - For the nine months ended September 30, 2025, the net loss from continuing operations was $105,312, compared to a net loss of $1,089,463 for the same period in 2024, indicating a significant improvement[27] - The company incurred an impairment of goodwill of $1,107,465 in the nine months ended September 30, 2024, with no impairment recorded in 2025[34] - The company reported depreciation and amortization expenses of $111,914 for the nine months ended September 30, 2025, compared to $106,321 in 2024[27]

Financial Performance - Homebuilding revenues for the three months ended September 30, 2025, were $2,560,343 thousand, a decrease of 4.4% compared to $2,677,640 thousand for the same period in 2024[15]. - Net income for the nine months ended September 30, 2025, was $976,001 thousand, down 20.2% from $1,224,496 thousand for the same period in 2024[18]. - Basic earnings per share for the three months ended September 30, 2025, were $119.26, a decrease of 14.6% compared to $139.65 for the same period in 2024[15]. - Total consolidated revenues for Q3 2025 were $2,609,505, a decrease of 4.5% compared to $2,732,951 in Q3 2024[58]. - Total segment profit for Q3 2025 was $386,614, a decrease of 20.0% from $483,008 in Q3 2024[61]. - The company reported a net income of $429,323 for the three months ended September 30, 2024, contributing to a total net income of $1,224,496 for the nine months ended September 30, 2024[48]. Assets and Liabilities - Total assets decreased from $6,380,988 thousand as of December 31, 2024, to $6,035,458 thousand as of September 30, 2025, representing a decline of approximately 5.4%[9]. - Total liabilities decreased from $2,170,916 thousand as of December 31, 2024, to $2,068,696 thousand as of September 30, 2025, a reduction of about 4.7%[12]. - Cash and cash equivalents at the end of the period decreased to $2,023,604 thousand from $2,568,667 thousand, a decline of approximately 21.4%[18]. - The carrying value of land under development as of September 30, 2025, was $38,017, down from $65,394 as of December 31, 2024[39]. - Total segment assets increased to $3,788,694 as of September 30, 2025, compared to $3,502,540 as of December 31, 2024, reflecting a growth of 8.2%[64]. Customer and Deposits - The company reported a decrease in customer deposits from $322,926 thousand as of December 31, 2024, to $277,351 thousand as of September 30, 2025, a decline of approximately 14.1%[12]. - The total risk of loss related to contract land deposits as of September 30, 2025, was approximately $872,323, up from $735,397 as of December 31, 2024[30]. - The allowance for losses on contract land deposits was $85.4 million as of September 30, 2025, compared to $58.6 million as of December 31, 2024[30]. Cash Flow and Operating Activities - The company’s cash flows from operating activities for the nine months ended September 30, 2025, were $681,592 thousand, a decrease of 7.6% from $737,412 thousand for the same period in 2024[18]. - The company incurred interest expense of $20,721 thousand for the nine months ended September 30, 2025, compared to $20,214 thousand for the same period in 2024, reflecting a slight increase of 2.5%[15]. - The company reported a net cash provided by operating activities of $681,592 thousand for the nine months ended September 30, 2025, compared to $737,412 thousand for the same period in 2024, a decrease of 7.6%[18]. Shareholder Equity and Stock Activity - Shareholders' equity increased to $3,966,762 thousand as of September 30, 2025, up from $3,845,131 thousand at June 30, 2025, reflecting a net income of $342,688 thousand during the quarter[46]. - The company repurchased 35,224 shares of common stock during the three months ended September 30, 2025, and 178,178 shares during the nine months ended September 30, 2025[46]. - The weighted average number of shares outstanding used to calculate basic earnings per share (EPS) for the three months ended September 30, 2025, was 2,873,501, down from 3,074,230 in 2024[43]. Mortgage Banking - Mortgage banking income for the nine months ended September 30, 2025, was $94,855 thousand, down 12.9% from $108,991 thousand for the same period in 2024[15]. - Mortgage banking income for the three months ended September 30, 2025, was $32,719 thousand, a decrease of 6.4% from $34,945 thousand in the same period of 2024[15]. - The company’s mortgage banking segment profit consists of revenues generated from mortgage financing, title insurance, and closing services, with no corporate capital allocation charge applied[55]. Impairment and Reserves - For the three months ended September 30, 2025, the company incurred pre-tax impairment charges on lot deposits of approximately $18,900, compared to $3,900 for the same period in 2024[28]. - Warranty Reserve decreased to $124,851 thousand at the end of September 2025 from $127,440 thousand at the beginning of the period, with provisions of $20,989 thousand and payments of $23,578 thousand during the quarter[51]. Tax and Lease Expenses - The effective tax rate for the three months ended September 30, 2025, was 22.8%, up from 20.3% in the same period of 2024[91]. - Operating lease expense for the three months ended September 30, 2025, was $10,835, compared to $10,078 for the same period in 2024[89]. - Cash paid for operating leases in the nine months ended September 30, 2025, was $24,659, compared to $23,466 in 2024[89]. Credit Facilities and Commitments - Senior Notes outstanding as of September 30, 2025, totaled $900,000, maturing on May 15, 2030, with an interest rate of 3.00%[77]. - The Amended Credit Agreement provides for a $300,000 senior unsecured revolving credit facility, maturing on March 11, 2030[81]. - Contractual commitments to extend credit to borrowers totaled $1,714,602 as of September 30, 2025[70].

Financial Performance - Consolidated QVC Group revenue decreased by 5.6% or $131 million for the three months ended September 30, 2025, and by 7.6% or $540 million for the nine months ended September 30, 2025, compared to the prior year [156]. - Operating income decreased by $92 million for the three months and by $2,662 million for the nine months ended September 30, 2025, compared to the corresponding periods in the prior year [159]. - Adjusted OIBDA decreased by 32.4% or $81 million for the three months and by 27.2% or $215 million for the nine months ended September 30, 2025, compared to the prior year [163]. - The Company recorded net losses of $73 million for the three months and $2,373 million for the nine months ended September 30, 2025, compared to net losses of $15 million and net earnings of $25 million in the prior year [173]. - QVC's consolidated net revenue decreased by $110 million or 5.3% for the three months ended September 30, 2025, and by $466 million or 7.4% for the nine months ended September 30, 2025, compared to the same periods in 2024 [195]. - QxH's total revenue net decline for the three months ended September 30, 2025, was $105 million or 6.9%, primarily due to a 7.4% decrease in units shipped [198]. - CBI's consolidated net revenue decreased by 8.4% and 9.8% for the three and nine months ended September 30, 2025, respectively, due to a 14.5% decrease in units shipped for the three months [209]. Cost and Expenses - QVC's cost of goods sold as a percentage of net revenue increased to 66.4% and 65.9% for the three and nine months ended September 30, 2025, respectively, compared to 65.3% and 64.9% for the same periods in 2024 [200]. - Operating expenses were 7.7% and 7.8% of net revenue for the three and nine months ended September 30, 2025, a decrease from 7.9% for both periods in 2024 [201]. - Advertising expenses increased by $17 million or 24.3% for the three months ended September 30, 2025, and by $26 million or 12.9% for the nine months ended September 30, 2025, primarily due to marketing investments [202]. - CBI's cost of goods sold as a percentage of net revenue was 62.5% for the three months ended September 30, 2025, up from 59.9% in 2024, driven by higher inbound logistics costs [211]. - CBI's SG&A expenses (excluding stock-based compensation) increased from 33.7% to 34.2% of net revenue for the three months ended September 30, 2025 [213]. Restructuring and Strategic Initiatives - QVC recorded $36 million and $20 million of restructuring costs during the nine months ended September 30, 2025, as part of its reorganization efforts [143]. - The transition of general and administrative services from Liberty Media Corporation to QVC Group was substantially completed by the third quarter of 2025 [135]. - QVC Group's WIN strategy aims for top-line growth through three priorities: enhancing customer interactions, fostering engaging content, and leveraging technology for operational efficiency [142]. Liquidity and Financial Position - QVC Group's liquidity position included cash and cash equivalents totaling $1,817 million, with $1,328 million held by QVC [182]. - As of September 30, 2025, QVC's consolidated leverage ratio was greater than 3.5 to 1.0, restricting its ability to make dividends or other restricted payments under senior secured notes [176]. - The Company has potential sources of liquidity including available cash balances, equity issuances, and cash generated by operating activities of wholly-owned subsidiaries [175]. - For the nine months ended September 30, 2025, QVC Group's net cash provided by operating activities was $30 million, a decrease from $313 million in the prior year [185]. - QVC Group's primary source of cash during the nine months ended September 30, 2025, was net debt borrowings of $1,986 million [185]. Debt and Interest - Interest expense increased by $17 million for the three months and by $10 million for the nine months ended September 30, 2025, primarily due to higher outstanding debt [167]. - QVC's debt credit ratings were downgraded by Fitch, S&P, and Moody's during the nine months ended September 30, 2025, indicating increased financial risk [177][178][179]. - The projected uses of QVC Group cash for the remainder of 2025 include continued capital improvement spending between $50 million and $70 million and approximately $84 million for interest payments on outstanding debt [186]. Stock and Shareholder Information - The company implemented a reverse stock split at a ratio of 1-for-50, effective May 22, 2025, with no change to the number of shares authorized [136]. - QVC's stock began trading on a split-adjusted basis on May 23, 2025, following the reverse stock split [140]. - The Company recorded $7 million of stock-based compensation for the three months ended September 30, 2025, compared to $3 million in the prior year [158]. - QVC's stock-based compensation expense was $6 million and $14 million for the three and nine months ended September 30, 2025, respectively, compared to $1 million and $15 million for the same periods in 2024 [207]. Impairments and Taxation - Goodwill and tradename impairments related to the QxH reporting unit may require additional carrying value adjustments if future outlook declines in revenue or cash flows occur [152]. - The effective tax rate for the three months ended September 30, 2025, was 30%, influenced by a valuation allowance and permanent adjustments on net pretax losses [170]. - QVC recorded impairment of goodwill and intangible assets totaling $2,395 million for the nine months ended September 30, 2025, including $930 million for tradenames and $1,465 million for goodwill [205]. Market and Economic Conditions - Future net revenue will depend on QVC's ability to grow through digital platforms and retain existing customers amid economic uncertainties and inflationary pressures [147][148]. - QVC's revenue is significantly impacted by discretionary spending, which may decline during economic instability, affecting overall sales [148]. - The company anticipates challenges in maintaining favorable channel positioning due to changes in television viewing habits and competition from digital services [147].

Financial Performance - Consolidated QVC Group revenue decreased by 5.6% or $131 million for the three months ended September 30, 2025, and by 7.6% or $540 million for the nine months ended September 30, 2025, compared to the prior year [156]. - Operating income decreased by $92 million for the three months and by $2,662 million for the nine months ended September 30, 2025, compared to the corresponding periods in the prior year [159]. - Adjusted OIBDA decreased by 32.4% or $81 million for the three months and by 27.2% or $215 million for the nine months ended September 30, 2025, compared to the prior year [163]. - The Company recorded net losses of $73 million for the three months and $2,373 million for the nine months ended September 30, 2025, compared to net losses of $15 million and net earnings of $25 million in the prior year [173]. - QVC's consolidated net revenue decreased by $110 million or 5.3% for the three months ended September 30, 2025, and by $466 million or 7.4% for the nine months ended September 30, 2025, compared to the prior year [195]. - QVC's adjusted OIBDA for the nine months ended September 30, 2025, was $603 million, down from $783 million in the same period of 2024 [195]. - QVC's cash flow from operating activities for the nine months ended September 30, 2025, was $30 million, a decrease from $313 million in 2024 [185]. - CBI's consolidated net revenue decreased by 8.4% and 9.8% for the three and nine months ended September 30, 2025, respectively, driven by a 14.5% decrease in units shipped for the three months [209]. Cost and Expenses - QVC's cost of goods sold as a percentage of net revenue increased to 66.4% and 65.9% for the three and nine months ended September 30, 2025, respectively, compared to 65.3% and 64.9% for the same periods in 2024 [200]. - Operating expenses were 7.7% and 7.8% of net revenue for the three and nine months ended September 30, 2025, a decrease from 7.9% for both periods in 2024 [201]. - Advertising expenses rose by $17 million or 24.3% for the three months and $26 million or 12.9% for the nine months ended September 30, 2025, primarily due to marketing investments on social and streaming platforms [202]. - CBI's cost of goods sold as a percentage of net revenue was 62.5% for the three months ended September 30, 2025, up from 59.9% in 2024, attributed to higher inbound logistics costs [211]. - CBI's SG&A expenses (excluding stock-based compensation) increased from 33.7% to 34.2% as a percentage of net revenue for the three months ended September 30, 2025 [213]. Strategic Initiatives - QVC Group's WIN strategy aims for top-line growth through three priorities: enhancing customer interactions, creating engaging content, and leveraging technology for operational efficiency [142]. - The transition of general and administrative services from Liberty Media Corporation to QVC Group was substantially completed by the third quarter of 2025 [135]. - The company implemented a reverse stock split at a ratio of 1-for-50, effective May 22, 2025, with no change to the number of shares authorized [136]. - QVC anticipates challenges in maintaining favorable channel positioning due to changes in television viewing habits and competition from digital services [147]. Financial Position and Liquidity - QVC's liquidity position included $1,817 million in cash and cash equivalents as of September 30, 2025 [182]. - Cash and cash equivalents are primarily invested in U.S. Treasury securities and other highly rated financial instruments as of September 30, 2025 [174]. - The Company is able to pay dividends or make restricted payments under certain conditions related to its consolidated leverage ratio [175]. - As of September 30, 2025, QVC's consolidated leverage ratio was greater than 3.5 to 1.0, restricting its ability to make dividends or other restricted payments under senior secured notes [176]. Impairments and Restructuring - QVC recorded $36 million and $20 million of restructuring costs during the nine months ended September 30, 2025, as part of its reorganization efforts [143]. - Goodwill and tradename impairments related to the QxH reporting unit may require additional carrying value adjustments if future outlook declines in revenue or cash flows occur [152]. - QVC recorded impairment of goodwill and intangible assets totaling $2,395 million for the nine months ended September 30, 2025, including $930 million for tradenames and $1,465 million for QxH reporting unit goodwill [205]. Debt and Interest - Interest expense increased by $17 million for the three months and by $10 million for the nine months ended September 30, 2025, primarily due to higher outstanding debt [167]. - QVC's debt credit ratings were downgraded by Fitch, S&P, and Moody's during the nine months ended September 30, 2025, indicating increased financial risk [177][178][179]. Stock and Compensation - The company has guaranteed cash payments to eligible employees, including 50% of target variable compensation for 2025 and 100% for 2026 for senior executives [149]. - QVC's stock began trading on a split-adjusted basis on May 23, 2025, following the reverse stock split [140]. - QVC's stock-based compensation expense was $6 million and $14 million for the three and nine months ended September 30, 2025, compared to $1 million and $15 million for the same periods in 2024 [207]. - The Company recorded $7 million of stock-based compensation for the three months ended September 30, 2025, compared to $3 million in the prior year [158]. Future Outlook - Future net revenue will depend on QVC's ability to grow through digital platforms and retain existing customers amid economic uncertainties and inflationary pressures [147][148]. - QVC's revenue is significantly impacted by discretionary spending, which may decline during economic instability, affecting overall sales [148]. - The company expects to continue generating positive cash flow from operations during 2025 [184]. - QVC's reported Adjusted OIBDA would have been impacted by $1 million and $2 million for the three and nine months ended September 30, 2025, respectively, for every 1% change in foreign currency exchange rates relative to the U.S. Dollar [218].

Financial Performance - For the three months ended September 30, 2025, net sales increased to $3,452.1 million, a 23% increase from $2,810.9 million in the prior year[119] - Gross margin for the same period rose by 33% to $552.3 million, driven by higher average selling prices across all segments[120] - Operating earnings for the three months ended September 30, 2025, were $339.8 million, a significant increase of 194% compared to $115.4 million in the prior year[119] - Net income attributable to Mosaic for the nine months ended September 30, 2025, was $1,060.2 million, compared to a net loss of $5.9 million in the same period a year ago[128] - A foreign currency transaction gain of $301.3 million positively impacted net income for the nine months ended September 30, 2025, compared to a loss of $(267.3) million in the prior year[128] Segment Performance - The Phosphate segment's operating earnings for the three months ended September 30, 2025, were $102 million, up from $8 million in the prior year, supported by higher selling prices and sales volumes[122] - The Potash segment reported operating earnings of $229 million for the three months ended September 30, 2025, compared to $109 million in the prior year, benefiting from improved global supply conditions[123] - Mosaic Fertilizantes segment's operating earnings increased to $96 million for the three months ended September 30, 2025, from $56 million in the prior year, despite a slight decline in sales volumes[125] - The Phosphate segment's net sales increased to $1.3 billion for the three months ended September 30, 2025, up from $1.0 billion in the same period of 2024, driven by higher average finished goods sales prices contributing approximately $210 million[135] - The Potash segment's net sales reached $694.8 million for the three months ended September 30, 2025, a 32% increase from $525.7 million in the same period of 2024[149] - The Mosaic Fertilizantes segment's net sales increased to $1.6 billion for the three months ended September 30, 2025, from $1.4 billion during the same period of the prior year, driven by higher finished product sales prices[164] Pricing and Costs - Average finished product selling price rose 23% to $712 per tonne for the three months ended September 30, 2025, compared to $579 per tonne in the prior year[136] - The average finished product selling price for the Potash segment was $278 per tonne for the three months ended September 30, 2025, compared to $233 per tonne for the same period last year[151] - The average finished product selling price for the Mosaic Fertilizantes segment was $518 per tonne for the three months ended September 30, 2025, compared to $447 per tonne for the same period a year ago[165] - The average consumed price for ammonia decreased 6% to $455 per tonne for the three months ended September 30, 2025, while the average consumed sulfur price increased 116% to $272 per long ton[139] - The average consumed cost of purchased and produced phosphate rock decreased to $80 per tonne for the three months ended September 30, 2025, down from $87 per tonne in the prior year[140] Operational Metrics - The Phosphate segment's production of crop nutrient dry concentrates and animal feed ingredients increased 3% for the three months ended September 30, 2025, resulting in an operating rate of 68%[141] - The production of crop nutrient dry concentrates and animal feed ingredients for the Mosaic Fertilizantes segment increased by 6% for the three months ended September 30, 2025, compared to the prior year period[169] Expenses and Financial Position - Selling, general and administrative expenses for the nine months increased by $31.9 million, primarily due to higher incentive compensation and employee benefit costs of approximately $27 million[181] - Other operating expenses decreased to $221.3 million from $305.0 million in the prior year, mainly due to timing of annual asset retirement obligation adjustments[183] - Net interest expense for the nine months increased to $139.3 million from $136.1 million, attributed to higher short-term debt levels[185] - Cash and cash equivalents as of September 30, 2025, were $153.3 million, with short-term debt of $1.2 billion and long-term debt of approximately $3.4 billion[195] - Net cash provided by operating activities was $880.9 million, down 18% from $1,079.9 million in the prior year[198] Capital and Financing Activities - Capital expenditures for the nine months were $1,009.8 million, compared to $957.7 million in the prior year[201] - Net cash used in financing activities for the nine months ended September 30, 2025, was $9.4 million, a significant decrease from $168.6 million for the same period in the prior year[202] - Dividends paid during the nine months ended September 30, 2025, totaled $210.5 million, with long-term debt payments net of borrowings amounting to $49.8 million[202] Risk Management - The company is exposed to fluctuations in the relative value of currencies, interest rates, and commodity prices, and uses derivatives to mitigate these risks[212] - The company has significant foreign currency exposures primarily to the Canadian dollar and Brazilian real, utilizing financial instruments to hedge these risks[213] - The company anticipates potential changes in trade policies and economic conditions that could impact its operations and financial performance[208] - The company is subject to financial assurance requirements in various jurisdictions, including Florida and Louisiana, which may affect its operational flexibility[204]