ORGANIZATION AND FORMATION |
12 Months Ended |
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Sep. 30, 2024 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
ORGANIZATION AND FORMATION | ORGANIZATION AND FORMATION Compass Minerals International, Inc. (“CMI”), through its subsidiaries (collectively, “CMP,” “Compass Minerals” or the “Company”), is a leading global provider of essential minerals focused on safely delivering where and when it matters to help solve nature’s challenges for customers and communities. The Company’s salt products help keep roadways safe during winter weather and are used in numerous other consumer, industrial, chemical and agricultural applications. Its plant nutrition business is the leading North American producer of sulfate of potash (“SOP”), which is used in the production of specialty fertilizers for high-value crops and turf and helps improve the quality and yield of crops, while supporting sustainable agriculture. The Company’s principal products are salt, consisting of sodium chloride and magnesium chloride, and SOP. The Company is also working to develop long-term fire-retardant solutions to help combat wildfires. The Company’s production sites are located in the United States (“U.S.”), Canada and the United Kingdom (“U.K.”). The Company also provides records management services in the U.K. CMI is a holding company with no significant operations other than those of its wholly-owned subsidiaries. Disposal of Businesses In fiscal 2021, the Company’s Board of Directors approved a plan to sell its South America chemicals and specialty plant nutrition businesses, its investment in Fermavi Eletroquímica Ltda. (“Fermavi”) and its North America micronutrient product business (collectively, the “Specialty Businesses”). The Company concluded that the sale of the Specialty Businesses represented a strategic shift for the Company that would have a material effect on its operations and financial results. Consequently, the Specialty businesses were reclassified as discontinued operations on the Consolidated Statements of Operations. See Note 4 for further discussion. Unless otherwise indicated, amounts provided in these Notes pertain to continuing operations. Prior-Period Reclassifications Certain Selling, general and administrative expenses totaling $4.4 million and $20.9 million, respectively, have been reclassified in fiscal 2023 and 2022 to to conform to current year presentation. The amounts that have been reclassified in fiscal 2023 and 2022 include employee termination costs related to restructuring and executive transition costs of $5.5 million and $3.8 million, respectively; Securities and Exchange Commission (the “SEC”) investigation and related legal costs, net of reimbursements, of $(0.3) million and $17.1 million, respectively; and changes in fair value of contingent consideration related to the acquisition of Fortress North America, LLC (“Fortress”) of $(0.8) million in fiscal 2023. The reclassification was made to separately report infrequent or other items from Selling, general and administrative expenses. See Note 13, Note 14 and Note 17 for additional information.
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