10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

_______________________________________________________________________

FORM 10-Q

_______________________________________________________________________

þ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended March 31, 2019

OR

¨ 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 001-32327

_______________________________________________________________________

The Mosaic Company

(Exact name of registrant as specified in its charter)

_______________________________________________________________________

Delaware	20-1026454
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)

3033 Campus Drive

Suite E490

Plymouth, Minnesota 55441

(800) 918-8270

(Address and zip code of principal executive offices and registrant’s telephone number, including area code)

Not Applicable

(Former name, former address and former fiscal year, if changed since last report)

_______________________________________________________________________

Securities registered pursuant to Section 12(b) of the Securities Exchange Act of 1934:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, par value $0.01 per share	MOS	New York Stock Exchange

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes  x    No  ¨

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).    Yes  x     No  ¨

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer”, “accelerated filer”, “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act. (Check one):    Large accelerated filer  x    Accelerated filer  ¨    Non-accelerated filer  ¨    Smaller reporting company  ¨ Emerging growth company ¨

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ¨

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).    Yes  ¨    No  x

Indicate the number of shares outstanding of each of the issuer’s classes of common stock as of the latest practicable date: 385,788,256 shares of Common Stock as of May 3, 2019.

Table of Contents
PART I.	FINANCIAL INFORMATION
	Item 1.	Financial Statements	1
		Condensed Consolidated Statements of Earnings	1
		Condensed Consolidated Statements of Comprehensive Income (Loss)	2
		Condensed Consolidated Balance Sheets	3
		Condensed Consolidated Statements of Cash Flows	4
		Condensed Consolidated Statements of Equity	6
		Notes to Condensed Consolidated Financial Statements	7
	Item 2.	Management's Discussion and Analysis of Financial Condition and Results of Operations	28
	Item 3.	Quantitative and Qualitative Disclosures About Market Risk	42
	Item 4.	Controls and Procedures	45
PART II.	OTHER INFORMATION
	Item 1.	Legal Proceedings	46
	Item 1A.	Risk Factors	47
	Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	47
	Item 4.	Mine Safety Disclosures	47
	Item 6.	Exhibits	47
	Signatures		49

PART I. FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

THE MOSAIC COMPANY

CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS

(In millions, except per share amounts)

(Unaudited)

	Three months ended
	March 31,
	2019			2018
Net sales	$	1,899.7		$	1,933.7
Cost of goods sold	1,590.2			1,691.6
Gross margin	309.5			242.1
Selling, general and administrative expenses	93.5			93.6
Other operating expense	13.9			67.8
Operating earnings	202.1			80.7
Interest expense, net	(47.0		)	(49.4		)
Foreign currency transaction gain (loss)	22.6			(32.2		)
Other expense	(1.1		)	(5.6		)
Earnings (loss) from consolidated companies before income taxes	176.6			(6.5		)
Provision for (benefit from) income taxes	46.6			(49.9		)
Earnings from consolidated companies	130.0			43.4
Equity in net loss of nonconsolidated companies	(0.1		)	(3.3		)
Net earnings including noncontrolling interests	129.9			40.1
Less: Net loss attributable to noncontrolling interests	(0.9		)	(2.2		)
Net earnings attributable to Mosaic	$	130.8		$	42.3
Basic net earnings per share attributable to Mosaic	$	0.34		$	0.11
Basic weighted average number of shares outstanding	385.5			382.6
Diluted net earnings per share attributable to Mosaic	$	0.34		$	0.11
Diluted weighted average number of shares outstanding	387.4			384.1

See Notes to Condensed Consolidated Financial Statements

1

THE MOSAIC COMPANY

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)

(In millions)

(Unaudited)

	Three months ended
	March 31,
	2019			2018
Net earnings including noncontrolling interest	$	129.9		$	40.1
Other comprehensive income (loss), net of tax
Foreign currency translation gain (loss), net of tax	51.8			(139.3		)
Net actuarial (loss) gain and prior service cost, net of tax	(1.0		)	2.1
Amortization of gain on interest rate swap, net of tax	0.6			0.4
Net gain (loss) on marketable securities held in trust fund, net of tax	10.0			(3.9		)
Other comprehensive income (loss)	61.4			(140.7		)
Comprehensive income (loss)	191.3			(100.6		)
Less: Comprehensive loss attributable to noncontrolling interest	(1.0		)	(2.9		)
Comprehensive income (loss) attributable to Mosaic	$	192.3		$	(97.7	)

See Notes to Condensed Consolidated Financial Statements

2

THE MOSAIC COMPANY

CONDENSED CONSOLIDATED BALANCE SHEETS

(In millions, except per share amounts)

(Unaudited)

	March 31, 2019			December 31, 2018
Assets
Current assets:
Cash and cash equivalents	$	384.6		$	847.7
Receivables, net	792.0			838.5
Inventories	2,572.1			2,270.2
Other current assets	397.6			280.6
Total current assets	4,146.3			4,237.0
Property, plant and equipment, net of accumulated depreciation of $7,195.7 million and $6,934.5 million, respectively	11,942.7			11,746.5
Investments in nonconsolidated companies	823.3			826.6
Goodwill	1,726.8			1,707.5
Deferred income taxes	345.9			343.8
Other assets	1,460.3			1,257.8
Total assets	$	20,445.3		$	20,119.2
Liabilities and Equity
Current liabilities:
Short-term debt	$	167.5		$	11.5
Current maturities of long-term debt	40.8			26.0
Structured accounts payable arrangements	466.9			572.8
Accounts payable	781.6			780.9
Accrued liabilities	940.4			1,092.5
Total current liabilities	2,397.2			2,483.7
Long-term debt, less current maturities	4,533.0			4,491.5
Deferred income taxes	1,122.4			1,080.6
Other noncurrent liabilities	1,585.2			1,458.7
Equity:
Preferred Stock, $0.01 par value, 15,000,000 shares authorized, none issued and outstanding as of March 31, 2019 and December 31, 2018	—			—
Common Stock, $0.01 par value, 1,000,000,000 shares authorized, 389,560,531 shares issued and 385,788,256 shares outstanding as of March 31, 2019, 389,242,360 shares issued and 385,470,085 shares outstanding as of December 31, 2018	3.8			3.8
Capital in excess of par value	996.2			985.9
Retained earnings	11,196.8			11,064.7
Accumulated other comprehensive loss	(1,595.6		)	(1,657.1		)
Total Mosaic stockholders' equity	10,601.2			10,397.3
Noncontrolling interests	206.3			207.4
Total equity	10,807.5			10,604.7
Total liabilities and equity	$	20,445.3		$	20,119.2

See Notes to Condensed Consolidated Financial Statements

3

THE MOSAIC COMPANY

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In millions)

(Unaudited)

	Three months ended
	March 31, 2019			March 31, 2018
Cash Flows from Operating Activities:
Net earnings including noncontrolling interests	$	129.9		$	40.1
Adjustments to reconcile net earnings including noncontrolling interests to net cash provided by operating activities:
Depreciation, depletion and amortization	218.1			217.5
Amortization of acquired inventory	(1.2		)	(30.1		)
Deferred and other income taxes	5.3			(63.2		)
Equity in net loss of nonconsolidated companies, net of dividends	3.6			3.3
Accretion expense for asset retirement obligations	15.3			12.1
Share-based compensation expense	15.3			15.7
Unrealized loss (gain) on derivatives	(46.9		)	14.2
Other	5.6			8.7
Changes in assets and liabilities, excluding effects of acquisition:
Receivables, net	59.0			62.5
Inventories	(304.5		)	(147.6		)
Other current and noncurrent assets	(66.0		)	(137.5		)
Accounts payable and accrued liabilities	(186.7		)	(74.9		)
Other noncurrent liabilities	(22.3		)	8.2
Net cash used in operating activities	(175.5		)	(71.0		)
Cash Flows from Investing Activities:
Capital expenditures	(313.9		)	(223.3		)
Purchases of available-for-sale securities - restricted	(186.9		)	(185.7		)
Proceeds from sale of available-for-sale securities - restricted	182.3			184.0
Investments in consolidated affiliate	—			1.3
Acquisition, net of cash acquired	—			(994.6		)
Purchases of held-to-maturity securities	(13.0		)	—
Proceeds from sale of held-to-maturity securities	2.3			—
Other	0.3			(2.1		)
Net cash used in investing activities	(328.9		)	(1,220.4		)
Cash Flows from Financing Activities:
Payments of short-term debt	(53.7		)	—
Proceeds from issuance of short-term debt	206.0			65.3
Payments of structured accounts payable arrangements	(319.7		)	(235.7		)
Proceeds from structured accounts payable arrangements	209.5			173.8
Payments of long-term debt	(10.1		)	(206.9		)
Cash dividends paid	(9.6		)	(9.6		)
Other	(0.1		)	(0.2		)
Net cash provided by (used in) financing activities	22.3			(213.3		)
Effect of exchange rate changes on cash	13.5			13.4
Net change in cash, cash equivalents and restricted cash	(468.6		)	(1,491.3		)
Cash, cash equivalents and restricted cash - December 31	871.0			2,194.4
Cash, cash equivalents and restricted cash - March 31	$	402.4		$	703.1

See Notes to Condensed Consolidated Financial Statements

4

THE MOSAIC COMPANY

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Continued)

(In millions)

(Unaudited)

	Three months ended
	March 31, 2019		March 31, 2018
Reconciliation of cash, cash equivalents and restricted cash reported within the unaudited condensed consolidated balance sheets to the unaudited condensed consolidated statements of cash flows:
Cash and cash equivalents	$	384.6	$	659.4
Restricted cash in other current assets	8.8		9.4
Restricted cash in other assets	9.0		34.3
Total cash, cash equivalents and restricted cash shown in the unaudited condensed consolidated statement of cash flows	$	402.4	$	703.1
Supplemental Disclosure of Cash Flow Information:
Cash paid during the period for:
Interest (net of amount capitalized of $6.0 and $5.3 for three months ended March 31, 2019 and 2018, respectively)	$	10.5	$	11.1
Income taxes (net of refunds)	93.8		12.8

See Notes to Condensed Consolidated Financial Statements

5

THE MOSAIC COMPANY

CONDENSED CONSOLIDATED STATEMENTS OF EQUITY

(In millions, except per share amounts)

(Unaudited)

		Mosaic Shareholders
	Shares	Dollars
				Capital in Excess of Par Value						Accumulated Other Comprehensive (Loss)
	Common Stock	Common Stock					Retained Earnings						Noncontrolling Interests			Total Equity
Balance as of December 31, 2017	351.0	$	3.5	$	44.5		$	10,631.1		$	(1,061.6	)	$	21.6		$	9,639.1
Adoption of ASC Topic 606	—	—		—			2.7			—			—			2.7
Total comprehensive income (loss)	—	—		—			42.3			(140.0		)	(2.9		)	(100.6		)
Vesting of restricted stock units	0.2	—		(2.7		)	—			—			—			(2.7		)
Stock based compensation	—	—		15.7			—			—			—			15.7
Acquisition of Vale Fertilizantes	34.2	0.3		919.7			—			—			—			920.0
Dividends ($0.10 per share)	—	—		—			(0.5		)	—			—			(0.5		)
Dividends for noncontrolling interests	—	—		—			—			—			(0.2		)	(0.2		)
Equity from noncontrolling interests	—	—		—			—			—			206.2			206.2
Balance as of March 31, 2018	385.4	$	3.8	$	977.2		$	10,675.6		$	(1,201.6	)	$	224.7		$	10,679.7
		Mosaic Shareholders
	Shares	Dollars
				Capital in Excess of Par Value						Accumulated Other Comprehensive (Loss)
	Common Stock	Common Stock					Retained Earnings						Noncontrolling Interests			Total Equity
Balance as of December 31, 2018	385.5	3.8		985.9			11,064.7			(1,657.1		)	207.4			10,604.7
Adoption of ASC Topic 842	—	—		—			0.6			—			—			0.6
Total comprehensive income (loss)	—	—		—			130.8			61.5			(1.0		)	191.3
Vesting of restricted stock units	0.3	—		(5.0		)	—			—			—			(5.0		)
Stock based compensation	—	—		15.3			—			—			—			15.3
Dividends ($0.10 per share)	—	—		—			0.7			—			—			0.7
Dividends for noncontrolling interests	—	—		—			—			—			(0.1		)	(0.1		)
Balance as of March 31, 2019	385.8	$	3.8	$	996.2		$	11,196.8		$	(1,595.6	)	$	206.3		$	10,807.5

See Notes to Condensed Consolidated Financial Statements

6

THE MOSAIC COMPANY

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Tables in millions, except per share amounts and as otherwise designated)

(Unaudited)

1. Organization and Nature of Business

The Mosaic Company (“Mosaic”, and, with its consolidated subsidiaries, “we”, “us”, “our”, or the “Company”) produces and markets concentrated phosphate and potash crop nutrients. We conduct our business through wholly and majority owned subsidiaries and businesses in which we own less than a majority or a noncontrolling interest, including consolidated variable interest entities and investments accounted for by the equity method.

On January 8, 2018, we completed our acquisition (the “Acquisition”) of Vale Fertilizantes S.A. (now known as Mosaic Fertilizantes P&K S.A. or the “Acquired Business”). Upon completion of the Acquisition, we became the leading fertilizer producer and distributor in Brazil.

We are organized into the following business segments:

• Our Phosphates business segment owns and operates mines and production facilities in Florida which produce concentrated phosphate crop nutrients and phosphate-based animal feed ingredients, and processing plants in Louisiana which produce concentrated phosphate crop nutrients. As part of the Acquisition, we acquired an additional 40% economic interest in the Miski Mayo Phosphate Mine in Peru, which increased our aggregate interest to 75%. These results are consolidated in the Phosphates segment. The Phosphates segment also includes our 25% interest in the Ma'aden Wa'ad Al Shamal Phosphate Company (the “MWSPC”), a joint venture to develop, own and operate integrated phosphate production facilities in the Kingdom of Saudi Arabia. We market approximately 25% of the MWSPC phosphate production. We recognize our equity in the net earnings or losses relating to MWSPC on a one-quarter lag in our Condensed Consolidated Statements of Earnings.

• Our Potash business segment owns and operates potash mines and production facilities in Canada and the U.S. which produce potash-based crop nutrients, animal feed ingredients and industrial products. Potash sales include domestic and international sales. We are a member of Canpotex, Limited (“Canpotex”), an export association of Canadian potash producers through which we sell our Canadian potash outside the U.S. and Canada.

• Our Mosaic Fertilizantes business segment includes the assets in Brazil that we acquired in the Acquisition, which include five phosphate rock mines, four phosphate chemical plants and a potash mine in Brazil. The segment also includes our legacy distribution business in South America, which consists of sales offices, crop nutrient blending and bagging facilities, port terminals and warehouses in Brazil and Paraguay. We also have a majority interest in Fospar S.A., which owns and operates a single superphosphate granulation plant and a deep-water crop nutrition port and throughput warehouse terminal facility in Brazil.

Intersegment eliminations, unrealized mark-to-market gains/losses on derivatives, debt expenses, Streamsong Resort^® results of operations, and the results of the China and India distribution businesses are included within Corporate, Eliminations and Other. As of January 1, 2019, certain selling, general and administrative costs that are not controllable by the business segments are no longer allocated to segments and are included within Corporate, Eliminations and Other. Our operating results for the quarter ended March 31, 2018, have been recast to reflect this change. See Note 15 of the Condensed Consolidated Financial Statements in this report for segment results.

2. Summary of Significant Accounting Policies

Statement Presentation and Basis of Consolidation

The accompanying unaudited Condensed Consolidated Financial Statements of Mosaic have been prepared on the accrual basis of accounting and in accordance with the requirements of the Securities and Exchange Commission (“SEC”) for interim financial reporting. As permitted under these rules, certain footnotes and other financial information that are normally required by accounting principles generally accepted in the United States (“GAAP”) can be condensed or omitted. The Condensed Consolidated Financial Statements included in this document reflect, in the opinion of our management, all adjustments (consisting of only normal recurring adjustments) necessary for a fair presentation of the results for the interim periods presented. The following notes should be read in conjunction with the accounting policies and other disclosures in the Notes to the Consolidated Financial Statements included in our Annual Report on Form 10-K filed with

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	THE MOSAIC COMPANY
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - (Continued)

the SEC for the year ended December 31, 2018 (the “10-K Report”). Sales, expenses, cash flows, assets and liabilities can and do vary during the year as a result of seasonality and other factors. Therefore, interim results are not necessarily indicative of the results to be expected for the full fiscal year.

The accompanying Condensed Consolidated Financial Statements include the accounts of Mosaic, its majority owned subsidiaries, and certain variable interest entities in which Mosaic is the primary beneficiary. Certain investments in companies where we do not have control but have the ability to exercise significant influence are accounted for by the equity method.

Leases

At inception, we determine whether an arrangement is a lease and the appropriate lease classification. Operating leases with terms greater than twelve months are included as operating lease right-of-use (“ROU”) assets within other assets, and lease liabilities within accrued liabilities and other noncurrent liabilities on our consolidated balance sheets. Finance leases with terms greater than twelve months are included as finance ROU assets within property and equipment, and finance lease liabilities within current maturities of long-term debt and long-term debt on our consolidated balance sheets.  Leases with terms of less than twelve months, referred to as short-term leases, do not create an ROU asset or lease liability on the balance sheet. 

ROU assets represent our right to use an underlying asset for the lease term. Lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at the commencement date of the lease, based on the present value of lease payments over the lease term. As most of our leases do not provide an implicit rate, we use our incremental borrowing rate based on the information available at the commencement date in determining the present value of lease payments. The company's incremental borrowing rate for a lease is the rate of interest it would have to pay on a collateralized basis to borrow an amount equal to the lease payments under similar terms. For both operating and finance leases, the initial ROU asset equals the lease liability, plus initial direct costs, less lease incentives received. Our lease agreements may include options to extend or terminate the lease, which are included in the lease term at the commencement date when it is reasonably certain that we will exercise that option. In general, we do not consider optional periods included in our lease agreements as reasonably certain of exercise at inception.

We have lease agreements with lease and non-lease components, which are generally accounted for separately. For full-service railcar leases, we account for the lease and non-lease components as a single lease component. Additionally, for certain equipment leases, we apply assumptions using a portfolio approach given the generally consistent terms of the agreements. Lease payments based on usage (for example, per-mile or per-hour charges), referred to as variable lease costs, are recorded separately from the determination of the ROU asset and lease liability.     

Accounting Estimates

Preparation of the Condensed Consolidated Financial Statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of net sales and expenses during the reporting periods. The most significant estimates made by management relate to the estimates of fair value of acquired assets and liabilities, the recoverability of non-current assets including goodwill, the useful lives and net realizable values of long-lived assets, environmental and reclamation liabilities including asset retirement obligations (“ARO”), and income tax-related accounts, including the valuation allowance against deferred income tax assets. Actual results could differ from these estimates.

3. Leases

In February 2016, the FASB issued a new standard (“ASC 842”) intended to improve financial reporting about leasing transactions. The FASB issued additional guidance subsequently to clarify aspects of the standard and provide certain relief for implementation. ASC 842 requires lessees to recognize on the balance sheet the rights and obligations created by leases with terms greater than twelve months. The primary change created by the new standard is the recognition of ROU assets and lease liabilities by lessees for those leases previously classified as operating leases. ASC 842 requires disclosures to enable users of financial statements to assess the amount, timing, and uncertainty of cash flows arising from leases.

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	THE MOSAIC COMPANY
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - (Continued)

We adopted ASC 842 effective January 1, 2019, with an immaterial cumulative-effect adjustment to the opening balance of retained earnings as of that date. As allowed under the standard, we have not changed our accounting and reporting for lease arrangements for periods presented prior to January 1, 2019. The impacts upon adoption on previously reported amounts are shown below. Our accounting for capital leases (now referred to as finance leases) remained substantially unchanged. Adoption of the standard is not expected to significantly impact lease activity reported in our statements of earnings and cash flows.

We have operating and finance leases for heavy mobile equipment, railcars, fleet vehicles, field and plant equipment, river and cross-Gulf vessels, corporate offices, land, and computer equipment. Our leases have remaining lease terms of 1 year to 29 years, some of which may include options to extend the leases for up to 10 years, and some of which may include options to terminate the leases within 1 year. As of March 31, 2019, assets recorded under finance leases, included within property, plant and equipment, were $405.1 million, and accumulated depreciation associated with finance leases was $32.9 million. As of March 31, 2019, assets recorded under operating leases were $244.8 million, included in other assets.

Adoption of the standard related to leases impacted our previously reported results as follows:

	Balance as of		Adoption		Balance as of
	December 31, 2018		Adjustments		January 1, 2019
(in millions)
Operating lease right-of-use assets	$	—	$	241.1	$	241.1
Finance lease right-of-use assets	340.9		—		340.9
Accrued and other noncurrent liabilities	—		241.1		241.1
Long-term debt, including current maturities	302.2		—		302.2

Adoption of ASC 842 had no impact to cash from or used in operating, financing, or investing on our consolidated cash flows statements.

The components of lease expense, included primarily within cost of goods sold and selling, general and administrative expenses, were as follows:

	Three Months Ended   March 31, 2019
(in millions)
Operating lease cost	$	26.6
Finance lease cost:
Amortization of right-of-use assets	$	6.3
Interest on lease liabilities	4.1
	$	10.4
Short-term lease cost	$	17.6
Variable lease cost	4.6
Total lease cost	$	59.2

Supplement cash flow information related to leases was as follows:

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	THE MOSAIC COMPANY
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - (Continued)

	Three Months Ended   March 31, 2019
(In millions)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	26.7
Operating cash flows from finance leases	$	2.8
Financing cash flows from finance leases	$	9.1
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	29.0
Finance leases	$	66.0

Other information related to leases was as follows:

	Three Months Ended   March 31, 2019
Weighted Average Remaining Lease Term
Operating leases	4.6 years
Finance leases	5.4 years
Weighted Average Discount Rate
Operating leases	6.7	%
Finance leases	4.0	%

Future lease payments under non-cancellable leases recorded as of March 31, 2019, were as follows:

	Operating Leases			Finance Leases
(in millions)
2019 (excluding the three months ended March 31, 2019)	$	79.1		$	32.4
2020	75.6			50.6
2021	49.8			45.6
2022	34.9			37.9
2023	24.9			70.0
Thereafter	24.0			172.9
Total future lease payments	$	288.3		$	409.4
Less imputed interest	(40.7		)	(56.4		)
Total	$	247.6		$	353.0
Reported as of March 31, 2019
Other accrued liabilities	$	83.9		$	—
Current maturities of long-term debt	—			35.2
Other noncurrent liabilities	163.7			—
Long-term debt, less current maturities	—			317.8
Total	$	247.6		$	353.0

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	THE MOSAIC COMPANY
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - (Continued)

A schedule of our minimum lease payments under non-cancelable capital and operating leases as of December 31, 2018 is as follows:

(in millions)	Operating Leases		Capital Leases
2019	$	97.5	$	20.4
2020	76.8		26.4
2021	54.7		23.4
2022	36.6		17.2
2023	28.1		48.9
Subsequent years	30.9		165.9
	$	324.6	$	302.2

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	THE MOSAIC COMPANY
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - (Continued)

4. Other Financial Statement Data

The following provides additional information concerning selected balance sheet accounts:

	March 31, 2019		December 31, 2018
Other current assets
Income and other taxes receivable	$	240.7	$	149.2
Prepaid expenses	114.9		86.8
Other	42.0		44.6
	$	397.6	$	280.6
Other assets
Restricted cash	$	9.0	$	15.8
MRO inventory	138.8		134.6
Marketable securities held in trust	656.7		632.3
Operating lease right-of-use assets	244.8		—
Indemnification asset	30.3		30.7
Long-term receivable	84.9		91.7
Other	295.8		352.7
	$	1,460.3	$	1,257.8
Accrued liabilities
Accrued dividends	$	0.7	$	11.8
Payroll and employee benefits	121.4		$	217.5
Asset retirement obligations	140.0		136.3
Customer prepayments (a)	188.2		199.8
Accrued income tax	29.9		65.5
Operating lease obligation	83.9		—
Other	376.3		461.6
	$	940.4	$	1,092.5
Other noncurrent liabilities
Asset retirement obligations	$	1,020.0	$	1,023.8
Operating lease obligation	163.7		—
Accrued pension and postretirement benefits	147.5		146.3
Unrecognized tax benefits	34.6		33.0
Other	219.4		255.6
	$	1,585.2	$	1,458.7

______________________________

^(a) The timing of recognition of revenue related to our performance obligations may be different than the timing of collection of cash related to those performance obligations.  Specifically, we collect prepayments from certain customers in Brazil, as well as timing of cash collection from Canpotex which may occur prior to delivery of product to the end customer.  We generally satisfy our contract liabilities within one quarter of incurring the liability.

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5. Earnings Per Share

The numerator for basic and diluted earnings per share (“EPS”) is net earnings attributable to Mosaic. The denominator for basic EPS is the weighted average number of shares outstanding during the period. The denominator for diluted EPS also includes the weighted average number of additional common shares that would have been outstanding if the dilutive potential common shares had been issued, unless the shares are anti-dilutive.

The following is a reconciliation of the numerator and denominator for the basic and diluted EPS computations:

	Three months ended
	March 31,
	2019		2018
Net earnings attributable to Mosaic	$	130.8	$	42.3
Basic weighted average number of shares outstanding	385.5		382.6
Dilutive impact of share-based awards	1.9		1.5
Diluted weighted average number of shares outstanding	387.4		384.1
Basic net earnings per share attributable to Mosaic	$	0.34	$	0.11
Diluted net earnings per share attributable to Mosaic	$	0.34	$	0.11

A total of 1.6 million and 2.7 million shares of common stock subject to issuance upon exercise of stock options for the three months ended March 31, 2019 and March 31, 2018, respectively, have been excluded from the calculation of diluted EPS because the effect would have been anti-dilutive.

6. Income Taxes

During the three months ended March 31, 2019, gross unrecognized tax benefits increased by $1.2 million to $39.3 million. The increase is primarily related to U.S. tax positions. If recognized, approximately $19.3 million of the $39.3 million in unrecognized tax benefits would affect our effective tax rate and net earnings in future periods. 

We recognize interest and penalties related to unrecognized tax benefits as a component of our income tax provision. We had accrued interest and penalties totaling $5.5 million and $4.9 million as of March 31, 2019 and December 31, 2018, respectively, that were included in other noncurrent liabilities in the Condensed Consolidated Balance Sheets.

Accounting for uncertain tax positions is determined by prescribing the minimum probability threshold that a tax position is more likely than not to be sustained based on the technical merits of the position. Mosaic is continually under audit by various tax authorities in the normal course of business. Such tax authorities may raise issues contrary to positions taken by the Company. If such positions are ultimately not sustained by the Company, this could result in material assessments to the Company. The costs related to defending, if needed, such positions on appeal or in court may be material. The Company believes that any issues raised are properly accounted for.

For the three months endedMarch 31, 2019, tax expense specific to the period was a benefit of approximately $0.4 million. In addition to items specific to the period, our income tax rate is impacted by the mix of earnings across the jurisdictions in which we operate, by a benefit associated with depletion, and by the impact of certain entities being taxed in both foreign jurisdictions and the U.S., including foreign tax credits for various taxes incurred.

Generally, for interim periods, income tax is equal to the total of (1) year-to-date pretax income multiplied by our forecasted effective tax rate plus (2) tax expense items specific to the period. In situations where we expect to report losses for which we do not expect to receive tax benefits, we are required to apply separate forecasted effective tax rates to those jurisdictions rather than including them in the consolidated effective tax rate. For the three months ended March 31, 2019, income tax expense was impacted by this set of rules, resulting in an additional benefit of $0.3 million compared to what would have been recorded under the general rule on a consolidated basis.

For the three months endedMarch 31, 2018, tax expense specific to the period was a benefit of approximately $48.0 million. This consisted primarily of a partial release of $57.0 million of valuation allowance as a result of revisions to

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provisional estimates related to The Act. This was partially offset by a share-based excess cost of $1.6 million, a change in AMT refunds of $2.0 million, and changes in estimates related to prior years of $3.8 million.

7. Inventories

Inventories consist of the following:

	March 31, 2019		December 31, 2018
Raw materials	$	116.6	$	147.5
Work in process	610.1		625.5
Finished goods	1,665.3		1,343.8
Final price deferred(a)	71.4		39.3
Operating materials and supplies	108.7		114.1
	$	2,572.1	$	2,270.2

______________________________

^(a)  Final price deferred is product that has shipped to customers, but the price has not yet been agreed upon.

8. Goodwill

Mosaic had goodwill of $1.7 billion at March 31, 2019 and December 31, 2018. We review goodwill for impairment annually in October or at any time events or circumstances indicate that the carrying value may not be fully recoverable, which is based on our accounting policy and GAAP. The changes in the carrying amount of goodwill, by reporting unit, are as follows:

	Phosphates		Potash		Mosaic Fertilizantes			Corporate, Eliminations and Other		Total
Balance as of December 31, 2018	$	588.6	$	1,000.4	$	106.4		$	12.1	$	1,707.5
Foreign currency translation	—		19.5		(0.2		)	—		19.3
Balance as of March 31, 2019	$	588.6	$	1,019.9	$	106.2		$	12.1	$	1,726.8

We are required to perform our next annual goodwill impairment analysis as of October 31, 2019. It is possible that, during the remainder of 2019 or beyond, business conditions could deteriorate from the current state, raw material or product price projections could decline significantly from current estimates, or our common stock price could decline significantly. If assumed net sales and cash flow projections are not achieved or our common stock price significantly declines from current levels, book values of certain operations could exceed their fair values, which may result in goodwill impairment charges in future periods. It is not possible at this time to determine if any such future impairment charge would result or, if it does, whether such charge would be material.

9. Marketable Securities Held in Trusts

In August 2016, Mosaic deposited $630 million into two trust funds (together, the “RCRATrusts”) created to provide additional financial assurance in the form of cash for the estimated costs (“Gypstack Closure Costs”) of closure and long term care of our Florida and Louisiana phosphogypsum management systems (“Gypstacks”), as described further in Note 10 of our Notes to Condensed Consolidated Financial Statements. Our actual Gypstack Closure Costs are generally expected to be paid by us in the normal course of our Phosphate business; however, funds held in each of the RCRA Trusts can be drawn by the applicable governmental authority in the event we cannot perform our closure and long term care obligations. When our estimated Gypstack Closure Costs with respect to the facilities associated with a RCRA Trust are sufficiently lower than the amount on deposit in that RCRA Trust, we have the right to request that the excess funds be released to us. The same is true for the RCRA Trust balance remaining after the completion of our obligations, which will be performed over a period that may not end until three decades or more after a Gypstack has been closed. The investments held by the

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RCRA Trusts are managed by independent investment managers with discretion to buy, sell, and invest pursuant to the objectives and standards set forth in the related trust agreements. Amounts reserved to be held or held in the RCRA Trusts (including losses or reinvested earnings) are included in other assets on our Condensed Consolidated Balance Sheets.

The RCRA Trusts hold investments, which are restricted from our general use, in marketable debt securities classified as available-for-sale and are carried at fair value. As a result, unrealized gains and losses are included in other comprehensive income until realized, unless it is determined that the carrying value of an investment is impaired on an other-than-temporary basis. There were no other-than-temporary impairment write-downs on available-for-sale securities during the three months ended March 31, 2019.

We review the fair value hierarchy classification on a quarterly basis. Changes in the ability to observe valuation inputs may result in a reclassification of levels for certain securities within the fair value hierarchy. We determine the fair market values of our available-for-sale securities and certain other assets based on the fair value hierarchy described below:

Level 1: Values based on unadjusted quoted prices in active markets that are accessible at the measurement date for identical assets or liabilities.

Level 2: Values based on quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, or model-based valuation techniques for which all significant assumptions are observable in the market.

Level 3: Values generated from model-based techniques that use significant assumptions not observable in the market. These unobservable assumptions reflect our own estimates of assumptions that market participants would use in pricing the asset or liability. Valuation techniques include use of option pricing models, discounted cash flow models and similar techniques.

The estimated fair value of the investments in the RCRA Trusts as of March 31, 2019 and December 31, 2018 are as follows:

	March 31, 2019
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Level 1
Cash and cash equivalents	$	7.0	$	—	$	—		$	7.0
Level 2
Corporate debt securities	180.4		2.2		(1.3		)	181.3
Municipal bonds	183.7		1.9		(1.2		)	184.4
U.S. government bonds	269.8		5.3		—			275.1
Total	$	640.9	$	9.4	$	(2.5	)	$	647.8
	December 31, 2018
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Level 1
Cash and cash equivalents	$	4.0	$	—	$	—		$	4.0
Level 2
Corporate debt securities	180.8		0.3		(4.3		)	176.8
Municipal bonds	186.1		0.5		(3.4		)	183.2
U.S. government bonds	262.1		3.3		—			265.4
Total	$	633.0	$	4.1	$	(7.7	)	$	629.4

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The following tables show gross unrealized losses and fair values of the RCRA Trusts' available-for-sale securities that have been in a continuous unrealized loss position deemed to be temporary as of March 31, 2019 and December 31, 2018.

	March 31, 2019					December 31, 2018
	Less than 12 months					Less than 12 months
	Fair Value		Gross Unrealized Losses(a)			Fair Value		Gross Unrealized Losses(a)
Corporate debt securities	$	1.9	$	—		$	43.9	$	(0.6	)
Municipal bonds	1.6		—			12.3		—
U.S. government bonds	—		—			—		—
Total	$	3.5	$	—		$	56.2	$	(0.6	)
	March 31, 2019					December 31, 2018
	Greater than 12 months					Greater than 12 months
	Fair Value		Gross Unrealized Losses(a)			Fair Value		Gross Unrealized Losses(a)
Corporate debt securities	$	86.4	$	(1.3	)	$	103.4	$	(3.7	)
Municipal bonds	81.0		(1.2		)	117.5		(3.4		)
U.S. government bonds	—		—			—		—
Total	$	167.4	$	(2.5	)	$	220.9	$	(7.1	)

______________________________

^(a)  Represents the aggregate of the gross unrealized losses that have been in a continuous unrealized loss position as of March 31, 2019 and December 31, 2018.

The following table summarizes the balance by contractual maturity of the available-for-sale debt securities invested by the RCRA Trusts as of March 31, 2019. Actual maturities may differ from contractual maturities because the issuers of the securities may have the right to prepay obligations before the underlying contracts mature.

	March 31, 2019
Due in one year or less	$	42.7
Due after one year through five years	355.8
Due after five years through ten years	206.4
Due after ten years	35.9
Total debt securities	$	640.8

For the three months ended March 31, 2019, realized gains were $3.1 million and realized losses were $0.8 million. For the three months ended March 31, 2018, realized gains were zero and realized losses were $4.9 million.

10. Asset Retirement Obligations

We recognize our estimated asset retirement obligations (“AROs”) in the period in which we have an existing legal obligation associated with the retirement of a tangible long-lived asset, and the amount of the liability can be reasonably estimated. The ARO is recognized at fair value when the liability is incurred with a corresponding increase in the carrying amount of the related long-lived asset. We depreciate the tangible asset over its estimated useful life. The liability is adjusted in subsequent periods through accretion expense, which represents the increase in the present value of the liability due to the passage of time. Such depreciation and accretion expenses are included in cost of goods sold for operating facilities and other operating expense for indefinitely closed facilities.

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Our legal obligations related to asset retirement require us to: (i) reclaim lands disturbed by mining as a condition to receive permits to mine phosphate ore reserves; (ii) treat low pH process water in Gypstacks to neutralize acidity; (iii) close and monitor Gypstacks at our Florida and Louisiana facilities at the end of their useful lives; (iv) remediate certain other conditional obligations; (v) remove all surface structures and equipment, plug and abandon mine shafts, contour and revegetate, as necessary, and monitor for five years after closing our Carlsbad, New Mexico facility; (vi) decommission facilities, manage tailings and execute site reclamation at our Saskatchewan potash mines at the end of their useful lives; (vii) de-commission mines in Brazil and Peru acquired as part of the Acquisition and (viii) decommission plant sites and close Gypstacks in Brazil also as part of the Acquisition. The estimated liability for these legal obligations is based on the estimated cost to satisfy the above obligations, which is discounted using a credit-adjusted risk-free rate.

A reconciliation of our AROs is as follows:

(in millions)	March 31, 2019			December 31, 2018
AROs, beginning of period	$	1,160.1		$	859.3
Liabilities acquired in the Acquisition	—			258.9
Liabilities incurred	4.0			27.8
Liabilities settled	(22.2		)	(69.6		)
Accretion expense	15.3			48.0
Revisions in estimated cash flows	1.5			78.2
Foreign currency translation	1.3			(42.5		)
AROs, end of period	1,160.0			1,160.1
Less current portion	140.0			136.3
	$	1,020.0		$	1,023.8

North America Gypstack Closure Costs

A majority of our ARO relates to Gypstack Closure Costs in Florida and Louisiana. For financial reporting purposes, we recognize our estimated Gypstack Closure Costs at their present value. This present value determined for financial reporting purposes is reflected on our Consolidated Balance Sheets in accrued liabilities and other noncurrent liabilities.

As discussed below, we have arrangements to provide financial assurance for the estimated Gypstack Closure Costs associated with our facilities in Florida and Louisiana.

EPA RCRA Initiative. On September 30, 2015, we and our subsidiary, Mosaic Fertilizer, LLC (“Mosaic Fertilizer”), reached agreements with the U.S. Environmental Protection Agency (“EPA”), the U.S. Department of Justice (“DOJ”), the Florida Department of Environmental Protection (“FDEP”) and the Louisiana Department of Environmental Quality (“LDEQ”) on the terms of two consent decrees (collectively, the “2015 Consent Decrees”) to resolve claims relating to our management of certain waste materials onsite at our Riverview, New Wales, Mulberry, Green Bay, South Pierce and Bartow fertilizer manufacturing facilities in Florida and our Faustina and Uncle Sam facilities in Louisiana. This followed a 2003 announcement by the EPA Office of Enforcement and Compliance Assurance that it would be targeting facilities in mineral processing industries, including phosphoric acid producers, for a thorough review under the U.S. Resource Conservation and Recovery Act (“RCRA”) and related state laws. As discussed below, a separate consent decree was previously entered into with EPA and the FDEP with respect to RCRA compliance at the Plant City, Florida phosphate concentrates facility (the “Plant City Facility”) that we acquired as part of our acquisition (the “CF Phosphate Assets Acquisition”) of the Florida phosphate assets and assumption of certain related liabilities of CF Industries, Inc. (“CF”).

The remaining monetary obligations under the 2015 Consent Decrees include:

• Modification of certain operating practices and undertaking certain capital improvement projects over a period of several years that are expected to result in capital expenditures likely to exceed $200 million in the aggregate.

• Provision of additional financial assurance for the estimated Gypstack Closure Costs for Gypstacks at the covered facilities. The RCRA Trusts are discussed in Note 9 to our Condensed Consolidated Financial Statements. In

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addition, we have agreed to guarantee the difference between the amounts held in each RCRA Trust (including any earnings) and the estimated closure and long-term care costs.

As of December 31, 2018, the undiscounted amount of our Gypstack Closure CostsARO associated with the facilities covered by the 2015 Consent Decrees, determined using the assumptions used for financial reporting purposes, was approximately $1.5 billion, and the present value of our Gypstack Closure Costs ARO reflected in our Consolidated Balance Sheet for those facilities was approximately $457.1 million.

Plant City and Bonnie Facilities. As part of the CF Phosphate Assets Acquisition, we assumed certain AROs related to Gypstack Closure Costs at both the Plant City Facility and a closed Florida phosphate concentrates facility in Bartow, Florida (the “Bonnie Facility”) that we acquired. Associated with these assets are two related financial assurance arrangements for which we became responsible and that provided sources of funds for the estimated Gypstack Closure Costs for these facilities, pursuant to federal or state law: the government entities can draw against such amounts in the event we cannot perform such closure activities. One was initially a trust (the “Plant City Trust”) established to meet the requirements under a consent decree with the EPA and the FDEP with respect to RCRA compliance at Plant City that also satisfied Florida financial assurance requirements at that site. Beginning in September 2016, as a substitute for the financial assurance provided through the Plant City Trust, we have provided financial assurance for Plant City in the form of a surety bond (the “Plant City Bond”). The amount of the Plant City Bond is $233.7 million, which reflects our closure cost estimates as of December 31, 2018.  The other was also a trust fund (the “Bonnie Facility Trust”) established to meet the requirements under Florida financial assurance regulations that apply to the Bonnie Facility. In July 2018, we received $21.0 million from the Bonnie Facility Trust by substituting for the trust fund a financial test mechanism (“Bonnie Financial Test”) supported by a corporate guarantee as allowed by state regulations. Both financial assurance funding obligations require estimates of future expenditures that could be impacted by refinements in scope, technological developments, new information, cost inflation, changes in regulations, discount rates and the timing of activities. Under our current approach to satisfying applicable requirements, additional financial assurance would be required in the future if increases in cost estimates exceed the face amount of the Plant City Bond or the amount supported by the Bonnie Financial Test.

At March 31, 2019 and December 31, 2018, the aggregate amounts of AROs associated with the Plant City Facility and Bonnie Facility gypstack closure costs included in our Condensed Consolidated Balance Sheets were $110.1 million and $109.2 million, respectively. The aggregate amount represented by the Plant City Bond exceeds the aggregate amount of ARO associated with that Facility. This is because the amount of financial assurance we are required to provide represents the aggregate undiscounted estimated amount to be paid by us in the normal course of our Phosphates business over a period that may not end until three decades or more after the Gypstack has been closed, whereas the ARO included in our Condensed Consolidated Balance Sheet reflects the discounted present value of those estimated amounts.

11. Contingencies

We have described below judicial and administrative proceedings to which we are subject.

We have contingent environmental liabilities that arise principally from three sources: (i) facilities currently or formerly owned by our subsidiaries or their predecessors; (ii) facilities adjacent to currently or formerly owned facilities; and (iii) third-party Superfund or state equivalent sites. At facilities currently or formerly owned by our subsidiaries or their predecessors, the historical use and handling of regulated chemical substances, crop and animal nutrients and additives and by-product or process tailings have resulted in soil, surface water and/or groundwater contamination. Spills or other releases of regulated substances, subsidence from mining operations and other incidents arising out of operations, including accidents, have occurred previously at these facilities, and potentially could occur in the future, possibly requiring us to undertake or fund cleanup or result in monetary damage awards, fines, penalties, other liabilities, injunctions or other court or administrative rulings. In some instances, pursuant to consent orders or agreements with governmental agencies, we are undertaking certain remedial actions or investigations to determine whether remedial action may be required to address contamination. At other locations, we have entered into consent orders or agreements with appropriate governmental agencies to perform required remedial activities that will address identified site conditions. Taking into consideration established accruals of approximately $54.8 million and $58.6 million as of March 31, 2019 and December 31, 2018, respectively, expenditures for these known conditions currently are not expected, individually or in the aggregate, to have a material effect on our business or financial condition. However, material expenditures could be required in the future to remediate the contamination at known sites or

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at other current or former sites or as a result of other environmental, health and safety matters. Below is a discussion of the more significant environmental matters.

New Wales Water Loss Incident. In August 2016, a sinkhole developed under one of the two cells of the active Gypstack at our New Wales facility in Polk County, Florida, resulting in process water from the stack draining into the sinkhole. The incident was reported to the FDEP and EPA. In October 2016, our subsidiary, Mosaic Fertilizer, entered into a consent order (the “Order”) with the FDEP relating to the incident. Under the Order, Mosaic Fertilizer agreed to, among other things: implement a remediation plan to close the sinkhole; perform additional monitoring of the groundwater quality and act to assess and remediate in the event monitored off-site water does not comply with applicable standards as a result of the incident; evaluate the risk of potential future sinkhole formation at the New Wales facility and at Mosaic Fertilizer’s active Gypstack operations at the Bartow, Riverview and Plant City facilities with recommendations to address any identified issues; and provide financial assurance of no less than $40.0 million, which we have done without the need for any expenditure of corporate funds through satisfaction of a financial strength test and Mosaic parent guarantee. The Order did not require payment of civil penalties relating to the incident. 

As of March 31, 2019, the sinkhole repairs were substantially complete, with $79.7 million spent in remediation and sinkhole-related costs through this date. We estimate remaining costs will be approximately $1.3 million. Additional expenditures could be required in the future for additional remediation or other measures in connection with the sinkhole including if, for example, FDEP or EPA were to request additional measures to address risks presented by the Gypstack. These expenditures could be material.  In addition, we are unable to predict at this time what, if any, impact the New Wales water loss incident will have on future Florida permitting efforts.

EPA RCRA Initiative.

We have certain financial assurance and other obligations under consent decrees and a separate financial assurance arrangement relating to our facilities in Florida and Louisiana. These obligations are discussed in Note 10 of our Notes to Condensed Consolidated Financial Statements.

EPA EPCRA Initiative. In July 2008, DOJ sent a letter to major U.S. phosphoric acid manufacturers, including us, stating that EPA’s ongoing investigation indicates apparent violations of Section 313 of the Emergency Planning and Community Right-to-Know Act (“EPCRA”) at their phosphoric acid manufacturing facilities. Section 313 of EPCRA requires annual reports to be submitted with respect to the use or presence of certain toxic chemicals. DOJ and EPA also stated that they believe that a number of these facilities have violated Section 304 of EPCRA and Section 103 of the Comprehensive Environmental Response, Compensation and Liability Act (“CERCLA”) by failing to provide required notifications relating to the release of hydrogen fluoride from the facilities. The letter did not identify any specific violations by us or assert a demand for penalties against us. We cannot predict at this time whether EPA and DOJ will initiate an enforcement action over this matter, what its scope would be, or what the range of outcomes of such a potential enforcement action might be.

Florida Sulfuric Acid Plants. On April 8, 2010, EPA Region 4 submitted an administrative subpoena to us under Section 114 of the Federal Clean Air Act (the “CAA”) regarding compliance of our Florida sulfuric acid plants with the "New Source Review" requirements of the CAA. The request received by Mosaic appears to be part of a broader EPA national enforcement initiative focusing on sulfuric acid plants.  On June 16, 2010, EPA issued a notice of violation to CF (the "CF NOV") with respect to "New Source Review" compliance at the Plant City Facility's sulfuric acid plants and the allegations in the CF NOV were not resolved before our 2014 acquisition of the Plant City Facility.  CF has agreed to indemnify us with respect to any penalty EPA may assess as a result of the allegations in the CF NOV. We are negotiating the terms of a settlement with EPA that would resolve both the violations alleged in the CF NOV, and violations which EPA may contend, but have not asserted, exist at the sulfuric acid plants at our other facilities in Florida.  Based on the current status of the negotiations, we expect that our commitments will include an agreement to reduce our sulfur dioxide emissions over the next five years to comply with a sulfur dioxide ambient air quality standard enacted by EPA in 2010. We do not expect that any related penalties assessed against us as part of a potential settlement would be material. In the event we are unable to finalize agreement on the terms of the settlement, we cannot predict at this time whether EPA and DOJ will initiate an enforcement action with respect to “New Source Review” compliance at our Florida sulfuric acid plants other than the Plant City Facility or what its scope would be, or what the range of outcomes might be with respect to such a potential enforcement action or with respect to the CF NOV.

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Uncle Sam Gypstack. In January 2019, we observed lateral movement of the north slope of our active phosphogypsum stack at the Uncle Sam facility in Louisiana.  The observation was reported to the Louisiana Department of Environmental Quality and the U.S. Environmental Protection Agency.  We continue to provide updates to the agencies on the movement, which has slowed following actions we have taken, which include reducing process water volume stored atop the stack to reduce the active load causing the movement and constructing a stability berm at the base of the slope to increase resistance.  Both steps have improved slope stability.  We are planning others that will further increase that stability.  There has been no loss of containment resulting from the movement observed, and none is expected. Although this could have a material effect on our future operations, at this time, we cannot predict the prospective impact on our results of operations.

Other Environmental Matters. Superfund and equivalent state statutes impose liability without regard to fault or to the legality of a party’s conduct on certain categories of persons who are considered to have contributed to the release of "hazardous substances" into the environment. Under Superfund, or its various state analogues, one party may, under certain circumstances, be required to bear more than its proportionate share of cleanup costs at a site where it has liability if payments cannot be obtained from other responsible parties. Currently, certain of our subsidiaries are involved or concluding involvement at several Superfund or equivalent state sites. Our remedial liability from these sites, alone or in the aggregate, currently is not expected to have a material effect on our business or financial condition. As more information is obtained regarding these sites and the potentially responsible parties involved, this expectation could change.

We believe that, pursuant to several indemnification agreements, our subsidiaries are entitled to at least partial, and in many instances complete, indemnification for the costs that may be expended by us or our subsidiaries to remedy environmental issues at certain facilities. These agreements address issues that resulted from activities occurring prior to our acquisition of facilities or businesses from parties including, but not limited to, ARCO (BP); Beatrice Fund for Environmental Liabilities; Conoco; Conserv; Estech, Inc.; Kaiser Aluminum & Chemical Corporation; Kerr-McGee Inc.; PPG Industries, Inc.; The Williams Companies; CF; and certain other private parties. Our subsidiaries have already received and anticipate receiving amounts pursuant to the indemnification agreements for certain of their expenses incurred to date as well as future anticipated expenditures. We record potential indemnifications as an offset to the established accruals when they are realizable or realized.

Phosphate Mine Permitting in Florida

Denial of the permits sought at any of our mines, issuance of the permits with cost-prohibitive conditions, substantial delays in issuing the permits, legal actions that prevent us from relying on permits or revocation of permits may create challenges for us to mine the phosphate rock required to operate our Florida and Louisiana phosphate plants at desired levels or increase our costs in the future.

The South Pasture Extension. In November 2016, the Army Corps of Engineers (the “Corps”) issued a federal wetlands permit under the Clean Water Act for mining an extension of our South Pasture phosphate rock mine in central Florida. On December 20, 2016, the Center for Biological Diversity, ManaSota-88, People for Protecting Peace River and Suncoast Waterkeeper issued a 60-day notice of intent to sue the Corps and the U.S. Fish and Wildlife Service (the “Service”) under the federal Endangered Species Act regarding actions taken by the Corps and the Service in connection with the issuance of the permit. On March 15, 2017, the same group filed a complaint against the Corps, the Service and the U.S. Department of the Interior in the U.S. District Court for the Middle District of Florida, Tampa Division. The complaint alleges that various actions taken by the Corps and the Service in connection with the issuance of the permit, including in connection with the Service's biological opinion and the Corps' reliance on that biological opinion, violated substantive and procedural requirements of the federal Clean Water Act (“CWA”), the National Environmental Policy Act (“NEPA”) and the Endangered Species Act (the “ESA”), and were arbitrary, capricious, an abuse of discretion, and otherwise not in accordance with law, in violation of the Administrative Procedure Act (the “APA”). As to the Corps, plaintiffs allege in their complaint, among other things, that the Corps failed to conduct an adequate analysis under the CWA of alternatives, failed to fully consider the effects of the South Pasture extension mine, failed to take adequate steps to minimize potential adverse impacts and violated the ESA by relying on the Service's biological opinion to determine that its permitting decision is not likely to adversely affect certain endangered or rare species. As to the Service, plaintiffs allege in their complaint, among other things, that the Service's biological opinion fails to meet statutory requirements, that the Service failed to properly consider impacts and adequately assess the cumulative effects on certain species, and that the Service violated the ESA in finding that the South Pasture extension mine is not likely to adversely affect certain endangered or rare species. The plaintiffs are

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seeking relief including (i) declarations that the Corps' decision to issue the permit violated the CWA, NEPA, the ESA and the APA and that its NEPA review violated the law; (ii) declarations that the Service's biological opinion violated applicable law and that the Corps' reliance on the biological opinion violated the ESA; (iii) orders that the Corps rescind the permit, that the Service withdraw its biological opinion and related analyses and prepare a biological opinion that complies with the ESA; and (iv) that the Corps be preliminarily and permanently enjoined from authorizing any further action under the permit until it complies fully with the requirements of the CWA, NEPA, the ESA and the APA. On March 31, 2017, Mosaic's motion for intervention was granted with no restrictions. Plaintiffs filed an amended complaint on June 2, 2017, without any new substantive allegations, and on June 28, 2017, Mosaic (as intervenor) and separately, the defendants, filed answers to the amended complaint. On June 30, 2017, the plaintiffs filed a motion for summary judgment, arguing that the permit should not have been issued. On July 15, 2017, Mosaic filed a response in opposition to the plaintiffs' motion, and on July 28, 2017, Mosaic filed its own motion for summary judgment. On December 14, 2017, the Tampa District Court granted Mosaic’s motion for summary judgment in favor of Mosaic and the government defendants, and denied the plaintiffs’ motion to supplement the administrative record. On February 12, 2018, the plaintiffs filed an appeal with the U.S. Court of Appeals for the Eleventh Circuit of the Tampa District Court decision. A mandatory mediation occurred on March 19, 2018, but no settlement was reached. Briefing by all parties was completed on July 13, 2018. Oral arguments are scheduled for May 22, 2019.

We believe the plaintiffs' claims in this case are without merit and we intend to vigorously defend the Corps' issuance of the South Pasture extension permit and the Service's biological opinion. However, if the plaintiffs were to prevail in this case, we would be prohibited from continuing to mine the South Pasture extension, and obtaining new or modified permits could significantly delay our resumption of mining and could result in more onerous mining conditions. This could have a material effect on our future results of operations, reduce future cash flows from operations, and in the longer term, conceivably adversely affect our liquidity and capital resources.

Brazil Legal Contingencies

Our Brazilian subsidiaries are engaged in a number of judicial and administrative proceedings regarding labor, environmental, mining and civil claims that allege aggregate damages and/or fines of approximately $1.1 billion. We estimate that our probable aggregate loss with respect to these claims is approximately $46.4 million, which amount is included in our accrued liabilities in our Condensed Consolidated Balance Sheet at March 31, 2019.

Approximately $757.0 million of the maximum potential loss relates to labor claims, such as in-house and third party employees’ judicial proceedings alleging the right to receive overtime pay, additional payment due to work in hazardous conditions, risk premium, profit sharing, additional payment due to night work, salary parity and wage differences. We estimate that our probable aggregate loss regarding these claims is approximately $37.0 million, which is included in accrued liabilities in our Condensed Consolidated Balance Sheet at March 31, 2019. Based on Brazil legislation and the current status of similar labor cases involving unrelated companies, we believe we have recorded adequate loss contingency reserves sufficient to cover our estimate of probable losses. If the status of similar cases involving unrelated companies were to adversely change in the future, our maximum potential exposure could increase and additional accruals could be required.

Approximately $2.7 million of the above mentioned $37.0 million reserves relates to a purported class action filed by one of the unions claiming additional payment for occupational hazard due to the alleged exposure of workers at the Company’s potash mine at Rosário do Catete, Sergipe, to explosive gases that could be found during the mining process. The matter currently is before the Brazilian Labor Supreme Court.

The environmental and mining judicial and administrative proceedings claims allege aggregate damages and/or fines of approximately $164.1 million. We estimate that our probable aggregate loss regarding these claims is approximately $5.6 million, which has been accrued at March 31, 2019. The majority of the reserves involves a claim filed in 2012 by the State Public Prosecutor Office, alleging that the Company delayed construction of an effluent treatment plant, thereby subjecting it to a fine under the commitment agreement.

Our Brazilian subsidiaries also have certain other civil contingent liabilities with respect to judicial, administrative and arbitration proceedings and claims related to contract disputes, pension plan matters, real estate disputes and other civil matters arising in the ordinary course of business. These claims allege aggregate damages in excess of $172.9 million. We estimate that the probable aggregate loss with respect to these matters is approximately $3.7 million.

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Uberaba Judicial Settlement

In 2008, the Federal Public Prosecutor filed a public civil action requesting the Company to adopt several measures to mitigate soil and water contamination related to the Gypstack at our Uberaba facility, including compensation for the alleged social and environmental damages. In 2014, our predecessor subsidiary in Brazil entered into a judicial settlement with the Federal Public Prosecutor, the State of Minas Gerais public prosecutor and the federal environmental agency. Under this agreement, we agreed to implement remediation measures such as: constructing a liner under the Gypstack water ponds and lagoons, and monitoring the groundwater and soil quality. We also agreed to create a private reserve of natural heritage and to pay compensation in the amount of approximately $0.3 million, which was paid in July 2018. We are currently acting in compliance with our obligations under the judicial settlement and expect them to be completed by December 31, 2023.

Uberaba EHS Class Action

In 2013, the State of Minas Gerais public prosecutor filed a class action claiming that our predecessor company in Brazil did not comply with labor safety rules and working hour laws. This claim was based on an inspection conducted by the Labor and Employment Ministry in 2010, following which we were fined for not complying with several labor regulations. We filed our defense, claiming that we complied with these labor regulations and that the assessment carried out by the inspectors in 2010 was abusive. Following the initial hearing, the court ordered an examination to determine whether there has been any non-compliance with labor regulations. The examination is currently pending. The amount involved in the proceeding is $31.8 million.

Brazil Tax Contingencies

Our Brazilian subsidiaries are engaged in a number of judicial and administrative proceedings relating to various non-income tax matters. We estimate that our maximum potential liability with respect to these matters is approximately $481.0 million, of which $233.0 million is subject to an indemnification agreement entered into with Vale S.A in connection with the Acquisition.

Approximately $301.0 million of the maximum potential liability relates to a Brazilian federal value-added tax, PIS and Coffins, and tax credit cases, while the majority of the remaining amount relates to various other non-income tax cases. The maximum potential liability can increase with new audits. Based on Brazil legislation and the current status of similar tax cases involving unrelated taxpayers, we believe we have recorded adequate loss contingency reserves sufficient to cover our estimate of probable losses; these reserves are immaterial in amount. If the status of similar tax cases involving unrelated taxpayers changes in the future, additional accruals could be required.

Other Claims

We also have certain other contingent liabilities with respect to judicial, administrative and arbitration proceedings and claims of third parties, including tax matters, arising in the ordinary course of business. We do not believe that any of these contingent liabilities will have a material adverse impact on our business or financial condition, results of operations, and cash flows.

12. Accounting for Derivative Instruments and Hedging Activities

We periodically enter into derivatives to mitigate our exposure to foreign currency risks, interest rate movements and the effects of changing commodity prices. We record all derivatives on the Condensed Consolidated Balance Sheets at fair value. The fair value of these instruments is determined by using quoted market prices, third party comparables, or internal estimates. We net our derivative asset and liability positions when we have a master netting arrangement in place. Changes in the fair value of the foreign currency, commodity and freight derivatives are immediately recognized in earnings. As of March 31, 2019 and December 31, 2018, the gross asset position of our derivative instruments was $14.6 million and $13.4 million, respectively, and the gross liability position of our liability instruments was $37.3 million and $89.4 million, respectively.

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 We do not apply hedge accounting treatments to our foreign currency exchange contracts, commodities contracts, or freight contracts. Unrealized gains and (losses) on foreign currency exchange contracts used to hedge cash flows related to the production of our products are included in cost of goods sold in the Condensed Consolidated Statements of Earnings. Unrealized gains and (losses) on commodities contracts and certain forward freight agreements are also recorded in cost of goods sold in the Condensed Consolidated Statements of Earnings. Unrealized gains or (losses) on foreign currency exchange contracts used to hedge cash flows that are not related to the production of our products are included in the foreign currency transaction gain/(loss) caption in the Condensed Consolidated Statements of Earnings.

We apply fair value hedge accounting treatment to our fixed-to-floating interest rate contracts. Under these arrangements, we agree to exchange, at specified intervals, the difference between fixed and floating interest amounts calculated by reference to an agreed-upon notional principal amount. The mark-to-market of these fair value hedges is recorded as gains or losses in interest expense. These fair value hedges are considered to be highly effective and, thus, as of March 31, 2019, the impact on earnings due to hedge ineffectiveness was immaterial. Consistent with our intent to have floating rate debt as a portion of our outstanding debt, in December 2016 and the first quarter of 2017, we entered into four and five, respectively, fixed-to-floating interest rate swap agreements, with a total notional amount of $310.0 million and $275.0 million, respectively, related to our Senior Notes due 2023.

As of March 31, 2019 and December 31, 2018, the following is the total absolute notional volume associated with our outstanding derivative instruments:

(in millions of Units)			March 31, 2019	December 31, 2018
Derivative Instrument	Derivative Category	Unit of Measure
Foreign currency derivatives	Foreign currency	US Dollars	1,626.6	2,091.7
Interest rate derivatives	Interest rate	US Dollars	585.0	585.0
Natural gas derivatives	Commodity	MMbtu	50.7	52.2

Credit-Risk-Related Contingent Features

Certain of our derivative instruments contain provisions that are governed by International Swap and Derivatives Association agreements with the counterparties. These agreements contain provisions that allow us to settle for the net amount between payments and receipts, and also state that if our debt were to be rated below investment grade, certain counterparties could request full collateralization on derivative instruments in net liability positions. The aggregate fair value of all derivative instruments with credit-risk-related contingent features that were in a liability position as of March 31, 2019 and December 31, 2018, was $14.9 million and $37.9 million, respectively. We have no cash collateral posted in association with these contracts. If the credit-risk-related contingent features underlying these agreements were triggered on March 31, 2019, we would have been required to post an additional $13.1 million of collateral assets, which are either cash or U.S. Treasury instruments, to the counterparties.

Counterparty Credit Risk

We enter into foreign exchange, certain commodity and interest rate derivatives, primarily with a diversified group of highly rated counterparties. We continually monitor our positions and the credit ratings of the counterparties involved and limit the amount of credit exposure to any one party. While we may be exposed to potential losses due to the credit risk of non-performance by these counterparties, material losses are not anticipated. We closely monitor the credit risk associated with our counterparties and customers and to date have not experienced material losses.

13. Fair Value Measurements

Following is a summary of the valuation techniques for assets and liabilities recorded in our Condensed Consolidated Balance Sheets at fair value on a recurring basis:

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Foreign Currency Derivatives - The foreign currency derivative instruments that we currently use are forward contracts and zero-cost collars, which typically expire within eighteen months. Most of the valuations are adjusted by a forward yield curve or interest rates. In such cases, these derivative contracts are classified within Level 2. Some valuations are based on exchange-quoted prices, which are classified as Level 1. Changes in the fair market values of these contracts are recognized in the Condensed Consolidated Financial Statements as a component of cost of goods sold in our Corporate, Eliminations and Other segment, or foreign currency transaction (gain) loss. As of March 31, 2019 and December 31, 2018, the gross asset position of our foreign currency derivative instruments was $13.1 million and the gross liability position of our foreign currency derivative instruments was $24.5 million and $62.2 million, respectively.

Commodity Derivatives - The commodity contracts primarily relate to natural gas. The commodity derivative instruments that we currently use are forward purchase contracts, swaps, and three-way collars. The natural gas contracts settle using NYMEX futures or AECO price indexes, which represent fair value at any given time. The contracts’ maturities and settlements are scheduled for future months and settlements are scheduled to coincide with anticipated gas purchases during those future periods. Quoted market prices from NYMEX and AECO are used to determine the fair value of these instruments. These market prices are adjusted by a forward yield curve and are classified within Level 2. Changes in the fair market values of these contracts are recognized in the Condensed Consolidated Financial Statements as a component of cost of goods sold in our Corporate, Eliminations and Other segment. As of March 31, 2019 and December 31, 2018, the gross asset position of our commodity derivative instruments was $1.4 million and $0.3 million, respectively, and the gross liability position of our commodity instruments was $10.8 million and $17.7 million, respectively.

Interest Rate Derivatives - We manage interest expense through interest rate contracts to convert a portion of our fixed-rate debt into floating-rate debt. We also enter into interest rate swap agreements to hedge our exposure to changes in future interest rates related to anticipated debt issuances. Valuations are based on external pricing sources and are classified as Level 2. Changes in the fair market values of these contracts are recognized in the Condensed Consolidated Financial Statements as a component of interest expense. As of March 31, 2019 and December 31, 2018, the gross asset position of our interest rate swap instruments was $0.1 million and zero, respectively, and the gross liability position of our interest rate swap instruments was $2.0 million and $9.5 million, respectively.

Financial Instruments

The carrying amounts and estimated fair values of our financial instruments are as follows:

	March 31, 2019				December 31, 2018
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Cash and cash equivalents	$	384.6	$	384.6	$	847.7	$	847.7
Accounts Receivables	792.0		792.0		838.5		838.5
Accounts payable	781.6		781.6		780.9		780.9
Structured accounts payable arrangements	466.9		466.9		572.8		572.8
Short-term debt (a)	167.5		167.5		11.5		11.5
Long-term debt, including current portion	4,573.8		4,724.0		4,517.5		4,554.6

^(a) Includes approximately $38.0 million related to a collateralized subsidy payment by the Government of India which was repaid in April 2019.

For cash and cash equivalents, accounts receivables, accounts payable, structured accounts payable arrangements, and short-term debt, the carrying amount approximates fair value because of the short-term maturity of those instruments. The fair value of long-term debt, including the current portion, is estimated using quoted market prices for the publicly registered notes and debentures, classified as Level 1 and Level 2, respectively, within the fair value hierarchy, depending on the market liquidity of the debt.

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14. Related Party Transactions

We enter into transactions and agreements with certain of our non-consolidated companies and other related parties from time to time. As of March 31, 2019 and December 31, 2018, the net amount due (to) from our non-consolidated companies totaled $(182.9) million and $95.2 million, respectively. These amounts include a long-term indemnification asset of $30.3 million from Vale S.A. for reimbursement of pension plan obligations.

The Condensed Consolidated Statements of Earnings included the following transactions with our non-consolidated companies:

	Three months ended
	March 31,
	2019		2018
Transactions with non-consolidated companies included in net sales	$	262.5	$	114.1
Transactions with non-consolidated companies included in cost of goods sold	251.0		203.7

As part of the MWSPC joint venture, we market approximately 25% of the MWSPC production, for which approximately $2.7 million and $1.0 million is included in revenue for the three months ended March 31, 2019 and March 31, 2018, respectively.

In November 2015, we agreed to provide funds to finance the purchase and construction of two articulated tug and barge units, intended to transport anhydrous ammonia for our operations, through a bridge loan agreement with Gulf Marine Solutions, LLC (“GMS”).  GMS is a wholly owned subsidiary of Gulf Sulphur Services Ltd., LLLP (“Gulf Sulphur Services”), an entity in which we and a joint venture partner, Savage Companies (“Savage”), each indirectly own a 50% equity interest and for which a subsidiary of Savage provides operating and management services. GMS provided these funds through draws on the Mosaic bridge loan, and through additional loans from Gulf Sulphur Services.  We determined, beginning in 2015 that we are the primary beneficiary of GMS, a variable interest entity and, at that time, we consolidated GMS’s operations in our Phosphates segment.  

On October 24, 2017, a lease financing transaction was completed with respect to the completed tug and barge unit, and, following the application of proceeds from the transaction, all outstanding loans made by Gulf Sulphur Services to GMS, together with accrued interest, were repaid, and the bridge loans related to the first unit’s construction were repaid. At March 31, 2019 and December 31, 2018, $81.1 million and $75.3 million in bridge loans, respectively, which are eliminated in consolidation, were outstanding, relating to the cancelled second barge and the remaining tug. Reserves against the bridge loan of approximately $54.2 million were recorded through December 31, 2018, and no additional charges were recorded in 2018 or 2019.  The construction of the remaining tug, funded by the bridge loan advances in excess of the reserves, is recorded within construction in-progress within our consolidated balance sheet. Several subsidiaries of Savage operate vessels utilized by Mosaic under time charter arrangements, including the ammonia tug and barge unit.

15. Business Segments

The reportable segments are determined by management based upon factors such as products and services, production processes, technologies, market dynamics, and for which segment financial information is available for our chief operating decision maker.

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For a description of our business segments, see Note 1 to the Condensed Consolidated Financial Statements. We evaluate performance based on the operating earnings of the respective business segments, which includes certain allocations of corporate selling, general and administrative expenses. The segment results may not represent the actual results that would be expected if they were independent, stand-alone businesses. Intersegment eliminations, including profit on intersegment sales, mark-to-market gains/losses on derivatives, debt expenses, Streamsong Resort^® results of operations and the results of the China and India distribution businesses are included within Corporate, Eliminations and Other. As of January 1, 2019, certain selling, general and administrative costs that are not controllable by the business segments are no longer allocated to segments and are included within Corporate, Eliminations and Other. Our operating results for the quarter ended March 31, 2018, have been recast to reflect this change.

Segment information for the three months ended March 31, 2019 and 2018 was as follows:

	Phosphates		Potash		Mosaic Fertilizantes		Corporate, Eliminations and Other (a)			Total
Three months ended March 31, 2019
Net sales to external customers	$	598.1	$	497.3	$	698.0	$	106.3		$	1,899.7
Intersegment net sales	207.9		6.2		—		(214.1		)	—
Net sales	806.0		503.5		698.0		(107.8		)	1,899.7
Gross margin	54.8		185.4		52.4		16.9			309.5
Canadian resource taxes	—		46.9		—		—			46.9
Gross margin (excluding Canadian resource taxes)	54.8		232.3		52.4		16.9			356.4
Operating earnings (loss)	43.5		175.8		27.3		(44.5		)	202.1
Capital expenditures	120.4		140.4		51.8		1.3			313.9
Depreciation, depletion and amortization expense	103.5		78.3		31.5		4.8			218.1
Three months ended March 31, 2018
Net sales to external customers	$	764.2	$	401.5	$	665.3	$	102.7		$	1,933.7
Intersegment net sales	101.7		2.2		—		(103.9		)	—
Net sales	865.9		403.7		665.3		(1.2		)	1,933.7
Gross margin	96.5		102.4		59.2		(16.0		)	242.1
Canadian resource taxes	—		26.3		—		—			26.3
Gross margin (excluding Canadian resource taxes)	96.5		128.7		59.2		(16.0		)	268.4
Operating earnings (loss)	77.8		91.6		12.8		(101.5		)	80.7
Capital expenditures	100.2		103.8		17.9		1.4			223.3
Depreciation, depletion and amortization expense	99.3		75.6		37.2		5.4			217.5
Total Assets
As of March 31, 2019	$	8,424.4	$	7,439.0	$	4,070.4	$	511.5		$	20,445.3
As of December 31, 2018	7,877.3		7,763.1		3,952.4		526.4			20,119.2

______________________________

^(a)  The “Corporate, Eliminations and Other” category includes the results of our ancillary distribution operations in India and China.  For the three months ended March 31, 2019, distribution operations in India and China had revenue of $93.2 million and gross margin of $9.0 million. For the three months ended March 31, 2018, distribution operations in India and China had revenue of $89.4 million and gross margin of $10.1 million.

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Financial information relating to our operations by geographic area is as follows:

	Three Months Ended March 31,
(in millions)	2019		2018
Net sales(a):
Brazil	$	678.0	$	688.6
Canpotex(b)	257.6		110.6
Canada	136.1		126.1
China	65.1		62.9
Australia	56.0		83.9
Mexico	44.4		59.0
India	27.8		32.3
Argentina	25.8		6.8
Paraguay	21.4		14.5
Peru	20.1		11.5
Columbia	16.5		26.4
Chile	10.9		15.7
Dominican Republic	7.5		2.5
Thailand	5.1		8.0
Other	17.5		53.9
Total international countries	1,389.8		1,302.7
United States	509.9		631.0
Consolidated	$	1,899.7	$	1,933.7

______________________________

^(a)  Revenues are attributed to countries based on location of customer.

^(b)  Canpotex is the export association of the Saskatchewan potash producers.

Net sales by product type are as follows:

	Three Months Ended March 31,
(in millions)	2019		2018
Sales by product type:
Phosphate Crop Nutrients	$	524.6	$	636.9
Potash Crop Nutrients	572.1		463.3
Crop Nutrient Blends	293.4		268.4
Specialty Products(a)	319.5		374.5
Phosphate Rock	7.0		21.8
Other(b)	183.1		168.8
	$	1,899.7	$	1,933.7

____________________________

^(a)  Includes sales of MicroEssentials^®, K-Mag, Aspire and animal feed ingredients.

^(b)  Includes sales of industrial potash, nitrogen and other products.

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ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

The following Management’s Discussion and Analysis of Financial Condition and Results of Operations should be read in conjunction with the material under the heading "Management’s Discussion and Analysis of Financial Condition and Results of Operations" included in the Annual Report on Form 10-K of The Mosaic Company filed with the Securities and Exchange Commission for the year ended December 31, 2018 (the “10-K Report”) and the material under Item 1 of Part I of this report.

Throughout the discussion below, we measure units of production, sales and raw materials in metric tonnes, which are the equivalent of 2,205 pounds, unless we specifically state we mean long ton(s), which are the equivalent of 2,240 pounds. In the following tables, there are certain percentages that are not considered to be meaningful and are represented by "NM".

Results of Operations

The following table shows the results of operations for the three months ended March 31, 2019 and 2018:

	Three months ended
	March 31,						2019-2018
(in millions, except per share data)	2019			2018			Change			Percent
Net sales	$	1,899.7		$	1,933.7		$	(34.0	)	(2	)%
Cost of goods sold	1,590.2			1,691.6			(101.4		)	(6	)%
Gross margin	309.5			242.1			67.4			28	%
Gross margin percentage	16		%	13		%
Selling, general and administrative expenses	93.5			93.6			(0.1		)	0	%
Other operating expense	13.9			67.8			(53.9		)	(79	)%
Operating earnings	202.1			80.7			121.4			150	%
Interest expense, net	(47.0		)	(49.4		)	2.4			(5	)%
Foreign currency transaction gain (loss)	22.6			(32.2		)	54.8			NM
Other expense	(1.1		)	(5.6		)	4.5			(80	)%
Earnings (loss) from consolidated companies before income taxes	176.6			(6.5		)	183.1			NM
Provision for (benefit from) income taxes	46.6			(49.9		)	96.5			NM
Earnings from consolidated companies	130.0			43.4			86.6			200	%
Equity in net loss of nonconsolidated companies	(0.1		)	(3.3		)	3.2			(97	)%
Net earnings including noncontrolling interests	129.9			40.1			89.8			NM
Less: Net loss attributable to noncontrolling interests	(0.9		)	(2.2		)	1.3			(59	)%
Net earnings attributable to Mosaic	$	130.8		$	42.3		$	88.5		NM
Diluted net earnings per share attributable to Mosaic	$	0.34		$	0.11		$	0.23		NM
Diluted weighted average number of shares outstanding	387.4			384.1

On January 8, 2018, we completed our acquisition (the “Acquisition”) of Vale Fertilizantes S.A. (now known as Mosaic Fertilizantes P&K S.A. or the “Acquired Business”). The aggregate consideration paid by us at closing was $1.08 billion in cash (after giving effect to certain adjustments based on matters such as the working capital and indebtedness balances of the Acquired Business, which were estimated at the time of closing) and 34,176,574 shares of our Common Stock, par value $0.01 per share, which was valued at $26.92 per share at closing. The assets we acquired included five Brazilian phosphate rock mines; four phosphate chemical plants; a potash mine in Brazil; an additional 40% economic interest in the Miski Mayo phosphate rock mine in the Bayovar region of Peru, which increased our aggregate interest to 75%; and a potash project in Kronau, Saskatchewan. Upon completion of the Acquisition, we became the leading fertilizer producer and distributor in Brazil.

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Overview of Consolidated Results for the three months ended March 31, 2019 and 2018

Net earnings attributable to Mosaic for the three months ended March 31, 2019 were $130.8 million, or $0.34 per diluted share, compared to net earnings of $42.3 million, or $0.11 per diluted share, for the prior year period. The current period net earnings were positively impacted by $42 million, or $0.09 per diluted share, related to the following notable items:

•Foreign currency transaction gains of $23 million, or $0.05 per diluted share

•Unrealized gains on derivatives of $25 million, or $0.05 per diluted share

•Other operating income of $11 million, or $0.03 per diluted share, related to the fair value adjustment for the estimated earn-out obligation to Vale, partially offset by other operating expenses of $8 million, or $(0.02) per diluted share, related to the Acquisition

•Expenses of $9 million, or $(0.02) per diluted share related to the Gypstack at our Uncle Sam facility in Louisiana

During the three months ended March 31, 2018, our results included:

• A discrete income tax benefit of $48 million, or $0.13 per diluted share, primarily related to the U.S. Tax Cuts and Jobs Act (“The Act”)

•Expenses of $20 million related to a refinement of our weighted average inventory costing, or $(0.04) per diluted share

•Expenses of $46 million related to the Acquisition, or $(0.09) per diluted share

•Foreign currency transaction losses of $32 million, or $(0.06) per diluted share

•Unrealized losses on derivatives of $12 million, or $(0.02) per diluted share

Significant factors affecting our results of operations and financial condition are listed below. Certain of these factors are discussed in more detail in the following sections of this Management’s Discussion and Analysis of Financial Condition and Results of Operations.

In addition to the items noted above, our operating results for the three months ended March 31, 2019 were favorably impacted by increased average selling prices across our business units compared to the prior year period. Potash average selling prices continue to trend upward due to improved market sentiment. This was driven by stronger global demand for potash and tight supply, due to a delay in competitors' new capacity ramping up. Operating results were also favorably impacted by higher potash sales volumes in the current year period compared to the same period in the prior year. Export sales volumes in the prior year period were unfavorably impacted by Canpotex's adoption of the revenue standard, which resulted in the deferral of recognized sales volumes. In the current year, domestic sales volumes declined as a result of adverse weather conditions in North America, which resulted in a late spring season along with a full product pipeline.

Operating results were unfavorably impacted in our Phosphates segment by a decrease in sales volumes and an increase in raw material costs, primarily sulfur, compared to the prior year period. The decrease in sales volumes was due to softer North America market conditions as a result of the adverse weather conditions. These conditions caused a delay in the spring planting season along with a full product pipeline. Sulfur costs were impacted by a tightening of global supply and demand. Phosphate finished product selling prices in the current year period increased compared to the same period in the prior year due to an increase in global demand, as well as a reduction in global product availability. The supply decrease was due to both the temporary idling of our Plant City, Florida phosphates manufacturing facility and a delay in competitors’ new capacity coming online during 2018.  However, due to the limited fall application season in North America and increased import activity, phosphate prices began to soften in the fourth quarter of 2018.  Prices have continued to decrease through the current quarter compared to the fourth quarter of 2018 due to the above delays in the North American spring season.

For the three months ended March 31, 2019, operating results were also favorably impacted in our Mosaic Fertilizantes segment by an increase in average selling prices in the current year compared to the prior year period. This increase was driven by international pricing trends and a favorable mix of products sold. This increase was partially offset by an increase in product costs during the current year period.

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Other Highlights

•In the current quarter, we temporarily idled our Araxá phosphate mine in Brazil to address new legislation which has introduced rules regarding tailing dam safety, construction, environmental licenses and operations. Subsequent to the quarter-end, we temporarily idled our Tapira and Catalão phosphate mines in Brazil as we evaluate the impact of the rules on tailings dams at these locations as well. We continue to work with independent engineers and regulators, and expect to obtain dam safety certificates and return to full operations at all three of these mines within six months. The Catalão mine is expected to be at full operating rates by the end of the second quarter, while the Tapira and Araxa mines are expected to be at full operating rates by the end of the third quarter. While the mining is suspended at these locations, we expect to continue to process available rock inventory to maintain finished product sales. We will supplement requirements with imported rock from our mine in Peru and ship finished phosphates from our Florida operations to meet our Brazilian customers’ needs. The higher delivered cost of phosphate rock, combined with idle mine and chemical plant costs, are expected to increase expenses by up to $100 million in 2019.

•In March 2019, we announced we would reduce our phosphate production by 300,000 tons for the spring season due to the continued weather concerns in North America.

Subsequent to quarter-end, we purchased a very large distribution facility called Pine Bend, near the northern end of the Mississippi River in Minnesota for $55 million. The facility significantly improves our ability to serve Midwestern customers in the U.S., allows us to capture time-place premiums, and reduces our logistics risk.

Phosphates Net Sales and Gross Margin

The following table summarizes the Phosphates segment’s net sales, gross margin, sales volume, selling prices and raw material prices:

	Three months ended
	March 31,						2019-2018
(in millions, except price per tonne or unit)	2019			2018			Change			Percent
Net sales:
North America	$	398.2		$	463.5		$	(65.3	)	(14	)%
International	407.8			402.4			5.4			1	%
Total	806.0			865.9			(59.9		)	(7	)%
Cost of goods sold	751.2			769.4			(18.2		)	(2	)%
Gross margin	$	54.8		$	96.5		$	(41.7	)	(43	)%
Gross margin as a percentage of net sales	7		%	11		%
Sales volumes(a) (in thousands of metric tonnes)
DAP/MAP	1,141			1,295			(154		)	(12	)%
Specialty(b)	649			650			(1		)	0	%
Total finished product tonnes	1,790			1,945			(155		)	(8	)%
Rock	192			360			(168		)	(47	)%
Total Phosphates Segment Tonnes(a)	1,982			2,305			(323		)	(14	)%
Realized prices ($/tonne)
Average finished product selling price (destination)	$	442		$	431		$	11		3	%
Average rock selling price (destination)(a)	$	74		$	79		$	(5	)	(6	)%
Average cost per unit consumed in cost of goods sold:
Ammonia (metric tonne)	$	352		$	344		$	8		2	%
Sulfur (long ton)	$	153		$	128		$	25		20	%
Blended rock (metric tonne)	$	61		$	55		$	6		11	%
Production volume (in thousands of metric tonnes) - North America	1,992			2,045			(53		)	(3	)%

______________________________

^(a) Includes intersegment sales volumes.

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^(b) Includes sales volumes of MicroEssentials® and animal feed ingredients.

Three months ended March 31, 2019 and 2018

The Phosphates segment’s net sales were $806.0 million for the three months ended March 31, 2019, compared to $865.9 million for the three months ended March 31, 2018. The decrease in net sales was due to lower sales volumes, which unfavorably impacted net sales by approximately $70 million, partially offset by higher selling prices in the current year period, which favorably impacted net sales by approximately $10 million.

Our average finished product selling price was $442 per tonne for the three months ended March 31, 2019, an increase of 3% from the same period a year ago, due to the factors discussed in the Overview.

The Phosphates segment’s sales volumes of finished products decreased by 8% for the three months ended March 31, 2019, compared to the same period in the prior year, due to the factor discussed in the Overview.

Gross margin for the Phosphates segment decreased to $54.8 million for the three months ended March 31, 2019, from $96.5 million for the three months ended March 31, 2018. The decrease in gross margin in the current year period was due to the impact of lower sales volumes, of approximately $10 million, and the impact of higher raw material costs of approximately $30 million, which are discussed further below. This was partially offset by the favorable impact of higher finished product prices of approximately $10 million. In addition, gross margin for the current year was negatively impacted by higher costs of approximately $20 million. These higher costs, primarily related to the Gypstack at our Uncle Sam facility in Louisiana of $9 million, and the South Pasture mine idle costs. The prior year period also included an unfavorable impact of approximately $15 million related to a refinement of our weighted average inventory costing.

The average consumed price for ammonia for our North American operations increased to $352 per tonne for the three months ended March 31, 2019, from $344 in the same period a year ago. We purchase approximately one-third of our ammonia from various suppliers in the spot market, with the remaining two-thirds either purchased through an ammonia supply agreement or produced internally at our Faustina, Louisiana location. The average consumed sulfur price for our North American operations increased to $153 per long ton for the three months ended March 31, 2019, from $128 in the same period a year ago. The purchase prices of these raw materials are driven by global supply and demand. The consumed ammonia and sulfur prices also include transportation, transformation, and storage costs. The average consumed cost of purchased and produced phosphate rock increased to $61 per tonne for the three months ended March 31, 2019, compared to $55 per tonne for the three months ended March 31, 2018. Our rock costs increased due to lower production in the current year, as discussed below, impacting the mix of rock being used. Also, the prior period rock costs benefitted from a lower cost of Miski Mayo rock compared to the current year period.

The Phosphates segment's production of crop nutrient dry concentrates and animal feed ingredients decreased slightly to 1.99 million tonnes for the three months ended March 31, 2019, from 2.05 million tonnes in the prior year period. For the three months ended March 31, 2019, our operating rate for processed phosphate production decreased to 82%, compared to 84% in the same period of the prior year.

For the three months ended March 31, 2019, our North American phosphate rock production decreased to 2.8 million tonnes from 4.1 million tonnes for the same period of the prior year, primarily due to the idling of our South Pasture, Florida mine in August of 2018, and operational challenges as we transitioned into new mining areas in the current year.

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Potash Net Sales and Gross Margin

The following table summarizes the Potash segment’s net sales, gross margin, sales volume and selling price:

	Three months ended
	March 31,						2019-2018
(in millions, except price per tonne or unit)	2019			2018			Change			Percent
Net sales:
North America	$	235.2		$	280.2		$	(45.0	)	(16	)%
International	268.3			123.5			144.8			117	%
Total	503.5			403.7			99.8			25	%
Cost of goods sold	318.1			301.3			16.8			6	%
Gross margin	$	185.4		$	102.4		$	83.0		81	%
Gross margin as a percentage of net sales	37		%	25		%
Sales volume(a) (in thousands of metric tonnes)
MOP	1,729			1,551			178			11	%
Specialty(b)	132			139			(7		)	(5	)%
Total Potash Segment Tonnes	1,861			1,690			171			10	%
Realized prices ($/tonne)
Average finished product selling price (destination)	$	271		$	239		$	32		13	%
Production volume (in thousands of metric tonnes)	2,254			2,275			(21		)	(1	)%

______________________________

^(a) Includes intersegment sales volumes.

^(b) Includes sales volumes of K-mag, Aspire and animal feed ingredients.

Three months ended March 31, 2019 and 2018

The Potash segment’s net sales increased to $503.5 million for the three months ended March 31, 2019, compared to $403.7 million in the same period a year ago. The increase was due to higher selling prices, which had a favorable impact on net sales of approximately $95 million, and higher sales volumes, which had a favorable impact on net sales of approximately $10 million.

Our average finished product selling price was $271 per tonne for the three months ended March 31, 2019, compared to $239 per tonne for the same period a year ago, as a result of the factors described in the Overview.

The Potash segment’s sales volumes of finished products increased to 1.9 million tonnes for the three months ended March 31, 2019, compared to 1.7 million tonnes in the same period a year ago. In the current year period, our sales volumes to International locations increased, while we saw a decrease in North American sales volumes, due to the factors discussed in the Overview. In the prior year, our International sales volumes were negatively impacted by Canpotex's adoption of the revenue standard, which resulted in the deferral of sales volumes.

Gross margin for the Potash segment increased to $185.4 million for the three months ended March 31, 2019, from $102.4 million in the same period of the prior year. Gross margin was favorably impacted by approximately $95 million, due to the increase in average selling prices, and approximately $10 million, due to the increase in sales volumes. These favorable impacts were partially offset by approximately $20 million of higher resource taxes, as described below, and $10 million in higher plant spending from the startup of the Esterhazy K3 mineshafts. We also saw favorable foreign exchange impacts due to the strengthening of the U.S. Dollar against the Canadian Dollar compared to the prior year period.

We had expense of $46.9 million from Canadian resource taxes for the three months ended March 31, 2019, compared to $26.3 million in the same period a year ago. Royalty expense increased to $11.2 million for the three months ended March 31, 2019, compared to $8.3 million for the three months ended March 31, 2018. The fluctuations in Canadian resource taxes and royalty expense are a result of higher margins from increased average selling prices due to the factors discussed in the Overview. Canadian resource tax changes were passed, which became effective on April 1, 2019. While these changes

32

did not impact our expense for the three months ended, March 31, 2019, we anticipate they will result in additional resource tax expense of approximately $35 million for the remainder of 2019.

We incurred $36.3 million in brine inflow management expenses, including depreciation on brine assets, at our Esterhazy mine during the three months ended March 31, 2019, compared to $39.2 million for the three months ended March 31, 2018. We have been effectively managing the brine inflows at Esterhazy since 1985, and from time to time we experience changes to the amounts and patterns of brine inflows. Inflows continue to be within the range of our historical experience. Brine inflow expenditures continue to reflect the cost of addressing changing inflow patterns, including inflows from below our mine workings, which can be more complex and costly to manage. The mine has significant brine storage capacity. Depending on inflow rates, pumping and disposal rates, and other variables, the volume of brine stored in the mine may change significantly from period to period. In general, the higher the level of brine stored in the mine, the less time available to mitigate new or increased inflows that exceed our capacity for pumping or disposal of brine outside the mine, and therefore the less time to avoid flooding and/or loss of the mine. Our past investments in remote injection and increased pumping capacities facilitate our management of the brine inflows and the amount of brine stored in the mine. We are continuing the expansion of capacity in our Potash segment with the K3 shafts at our Esterhazy mine. Once completed, we expect this to provide us the opportunity to reduce or eliminate future brine inflow management costs and risks.

Our operating rate for potash production was 86% for the current year period, comparable to 87% in the prior year period, primarily due lower production volumes.

Mosaic Fertilizantes Net Sales and Gross Margin

The following table summarizes the Mosaic Fertilizantes segment’s net sales, gross margin, sales volume and selling price.

	Three months ended
	March 31,						2019-2018
(in millions, except price per tonne or unit)	2019			2018			Change			Percent
Net Sales	$	698.0		$	665.3		$	32.7		5	%
Cost of goods sold	645.6			606.1			39.5			7	%
Gross margin	$	52.4		$	59.2		$	(6.8	)	(11	)%
Gross margin as a percent of net sales	8		%	9		%
Sales volume (in thousands of metric tonnes)
Phosphate produced in Brazil	412			427			(15		)	(4	)%
Potash produced in Brazil	72			99			(27		)	(27	)%
Purchased nutrients	1,044			1,058			(14		)	(1	)%
Total Mosaic Fertilizantes Segment Tonnes	1,528			1,584			(56		)	(4	)%
Realized prices ($/tonne)
Average finished product selling price (destination)	$	457		$	420		$	37		9	%
Purchases ('000 tonnes)
DAP/MAP from Mosaic	162			70			92			131	%
MicroEssentials® from Mosaic	202			182			20			11	%
Potash from Mosaic/Canpotex	452			389			63			16	%
Average cost per unit consumed in cost of goods sold:
Ammonia (metric tonne)	$	410		$	407		$	3		1	%
Sulfur (long ton)	$	213		$	204		$	9		4	%
Blended rock (metric tonne)	$	102		$	115		$	(13	)	(11	)%
Production volume (in thousands of metric tonnes)	889			987			(98		)	(10	)%

______________________________

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Three months ended March 31, 2019 and 2018

The Mosaic Fertilizantes segment’s net sales increased to $698.0 million for the three months ended March 31, 2019, from $665.3 million in the same period a year ago. The increase in net sales was due to higher selling prices in the current year period, which favorably impacted net sales by approximately $60 million, partially offset by lower sales volumes, which unfavorably impacted net sales by approximately $30 million.

Our average finished product selling price was $457 per tonne for the three months ended March 31, 2019, compared to $420 per tonne for the same period a year ago, as a result of the factors described in the Overview.

The Mosaic Fertilizantes segment’s sales volumes of finished products decreased to 1.5 million tonnes for the three months ended March 31, 2019, compared to 1.6 million tonnes in the same period a year ago, as farmers delayed purchases in the current year. In the prior year period, better economics were driving farmers to purchase in advance.

Gross margin for the Mosaic Fertilizantes segment decreased to $52.4 million for the three months ended March 31, 2019, from $59.2 million in the same period of the prior year. The decrease in gross margin was due to the impact of lower sales volumes of approximately $20 million, and higher idle costs from the Araxa and Taquari facilities of approximately $10 million in the current year period. This was partially offset by the favorable impact of higher finished product prices of approximately $30 million. The prior year period also included a positive impact of approximately $30 million related to the purchase price adjustment for the fair market value of acquired inventory, primarily on rock. We expect our gross margin to be negatively impacted by increased rock costs and production costs for the remainder of 2019 due to the temporary idling of three of our mines in Brazil, as discussed in the Overview.

The Mosaic Fertilizantes segment's production of crop nutrient dry concentrates and animal feed ingredients decreased 10% to 0.9 million tonnes for the three months ended March 31, 2019, from 1.0 million tonnes in the prior year period. This decrease was primarily due to unplanned down time at our Taquari potash mine. For the three months ended March 31, 2019, our operating rate decreased to 72%, compared to 81% in the same period of the prior year.

For the three months ended March 31, 2019, our Brazilian phosphate rock production decreased to 0.8 million tonnes from 0.9 million tonnes for the same period of the prior year, due to lower production across the mines.  We expect our production of phosphate rock to be lower in the second and third quarters of 2019, due to the temporary idling of three of our mines, as discussed in the Overview.

Corporate, Eliminations and Other

In addition to our three operating segments, we assign certain costs to Corporate, Eliminations and Other, which is presented separately in Note 15 to our Notes to Condensed Consolidated Financial Statements. Corporate, Eliminations and Other includes the results of the China and India distribution businesses, intersegment eliminations, including profit on intersegment sales, unrealized mark-to-market gains and losses on derivatives, debt expenses and Streamsong Resort^® results of operations. As of January 1, 2019, certain selling, general and administrative costs that are not controllable by the business segments are no longer allocated to segments and are included within Corporate, Eliminations and Other. Our operating results for the quarter ended March 31, 2018, have been recast to reflect this change.

For the three months ended March 31, 2019, gross margin for Corporate, Eliminations and Other was a gain of $16.9 million, compared to a loss of $16.0 million for the same period in the prior year. The change was driven by a net unrealized gain of $24.9 million in the current year period, primarily on foreign currency derivatives, compared to a net unrealized loss of $12.2 million in the prior year period. This was partially offset by a higher elimination of profit on intersegment sales in the current year period by approximately $3.5 million. Distribution operations in India and China had revenue of $93.2 million and gross margin of $9.0 million in the current year period, compared to revenue of $89.4 million and gross margin of $10.1 million in the prior year period.

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Other Income Statement Items

	Three months ended
	March 31,						2019-2018
(in millions)	2019			2018			Change			Percent
Selling, general and administrative expenses	$	93.5		$	93.6		$	(0.1	)	0	%
Other operating expense	13.9			67.8			(53.9		)	(79	)%
Interest expense	(54.9		)	(58.5		)	3.6			(6	)%
Interest income	7.9			9.1			(1.2		)	(13	)%
Interest expense, net	(47.0		)	(49.4		)	2.4			(5	)%
Foreign currency transaction gain (loss)	22.6			(32.2		)	54.8			NM
Other expense	(1.1		)	(5.6		)	4.5			(80	)%
Provision for (benefit from) income taxes	46.6			(49.9		)	96.5			NM
Equity in net loss of nonconsolidated companies	(0.1		)	(3.3		)	3.2			(97	)%

Selling, General and Administrative Expenses

Selling, general and administrative expenses of $93.5 million for the three months ended March 31, 2019, were comparable to the same period of prior year.

Other Operating Expense

For the three months ended March 31, 2019, we had other operating expenses of $13.9 million, compared to expenses of $67.8 million for the same period in the prior year. The three months ended March 31, 2019 include approximately $5 million of integration costs related to the Acquisition and approximately $3 million of costs to capture future synergies associated with the Acquired Business, compared to $26 million of fees and integration costs and $16 million of costs incurred to capture synergies in the same period of the prior year. The current year period also includes $11 million of income generated by the fair value adjustment for the estimated future earn-out obligations related to the Acquisition, partially offset by approximately $6 million of fixed asset write-offs.

Foreign Currency Transaction Gain (Loss)

We recorded foreign currency transaction gains of $22.6 million for the three months ended March 31, 2019, compared to foreign currency transaction losses of $32.2 million for the three months ended March 31, 2018. For the three months ended March 31, 2019, the gain was primarily the result of the effect of weakening of the U.S. dollar relative to the Canadian dollar on significant U.S. dollar-denominated intercompany loans, partially offset by the strengthening of the U.S. dollar relative to the Brazilian real on significant U.S. dollar-denominated payables held by our Brazilian subsidiaries.

For the three months ended March 31, 2018, the loss was primarily the result of the effect of the strengthening of the U.S. dollar relative to the Canadian dollar on significant U.S. denominated intercompany loans and strengthening of the U.S. dollar relative to the Brazilian real on significant U.S. dollar-denominated payables held by our Brazilian subsidiaries.

Provision for (Benefit from) Income Taxes

Three months ended	Effective Tax Rate		Provision for (Benefit from) Income Taxes
March 31, 2019	26.4	%	$	46.6
March 31, 2018	767.7	%	(49.9		)

Income tax expense was $46.6 million, and the effective tax rate was 26.4% for the three months ended March 31, 2019.

For the three months ended March 31, 2019, tax expense specific to the period was a benefit of approximately $0.4 million. In addition to items specific to the period, our income tax rate is impacted by the mix of earnings across the

35

jurisdictions in which we operate, by a benefit associated with depletion, and by the impact of certain entities being taxed in both foreign jurisdictions and the U.S., including foreign tax credits for various taxes incurred.

Generally, for interim periods, income tax is equal to the total of (1) year-to-date pretax income multiplied by our forecasted effective tax rate plus (2) tax expense items specific to the period. In situations where we expect to report losses that we do not expect to receive a tax benefit, we are required to apply separate forecasted effective tax rates to those jurisdictions, rather than including them in the consolidated effective tax rate. For the three months ended March 31, 2019, income tax expense was impacted by this set of rules, resulting in an additional benefit of $0.3 million compared to what would have been recorded under the general rule on a consolidated basis.

For the three months ended March 31, 2018, tax expense specific to the period was a benefit of approximately $48.0 million. This consisted primarily of a partial release of $57.0 million of valuation allowance as a result of revisions to provisional estimates related to The Act. This was partially offset by a share-based excess cost of $1.6 million, a change in AMT refunds of $2.0 million, and changes in estimates related to prior years of $3.8 million.

Critical Accounting Estimates

The Condensed Consolidated Financial Statements are prepared in conformity with GAAP. In preparing the Condensed Consolidated Financial Statements, we are required to make various judgments, estimates and assumptions that could have a significant impact on the results reported in the Condensed Consolidated Financial Statements. We base these estimates on historical experience and other assumptions believed to be reasonable by management under the circumstances. Changes in these estimates could have a material effect on our Condensed Consolidated Financial Statements.

The basis for our financial statement presentation, including our significant accounting estimates, is summarized in Note 2 to the Condensed Consolidated Financial Statements in this report. A summary description of our significant accounting policies is included in Note 2 to the Consolidated Financial Statements in our 10-K Report. Further detailed information regarding our critical accounting estimates is included in Management’s Discussion and Analysis of Results of Operations and Financial Condition in our 10-K Report.

Liquidity and Capital Resources

As of March 31, 2019, we had cash and cash equivalents of $0.4 billion, plus marketable securities held in trust to fund future obligations of $0.7 billion, long-term debt, including current maturities, of approximately $4.6 billion, and stockholders’ equity of approximately $10.8 billion. We have a target liquidity buffer of up to $3.0 billion, including cash and available committed credit lines. We expect our liquidity to fluctuate from time to time, especially in the first quarter of each year, to manage through the seasonality of our business. We also target debt leverage ratios that are consistent with investment grade credit ratings. Our capital allocation priorities include maintaining our investment grade ratings and financial strength, sustaining our assets, including ensuring the safety and reliability of our assets, investing to grow our business, either through organic growth or taking advantage of strategic opportunities, and returning excess cash to shareholders, including paying our dividend. During the three months endedMarch 31, 2019, we invested $313.9 million in capital expenditures.

Funds generated by operating activities, available cash and cash equivalents, and our credit facilities continue to be our most significant sources of liquidity. We believe funds generated from the expected results of operations and available cash, cash equivalents and borrowings under our credit facilities, as needed, will be sufficient to finance our operations, including our capital expenditures, existing strategic initiatives and expected dividend payments, for the next 12 months. There can be no assurance, however, that we will continue to generate cash flows at or above current levels. At March 31, 2019, we had $1.98 billion available under our $2.0 billion revolving credit facility. Our credit facilities, including the revolving credit facility and our term loans, require us to maintain certain financial ratios, as discussed in Note 10 of our Notes to Consolidated Financial Statements in our 10-K Report.  We were in compliance with these ratios as of March 31, 2019.

All of our cash and cash equivalents are diversified in highly rated investment vehicles. Our cash and cash equivalents are held either in the U.S. or held by non-U.S. subsidiaries and are not subject to significant foreign currency exposures, as the majority are held in investments denominated in U.S. dollars as of March 31, 2019. These funds may create foreign currency transaction gains or losses, however, depending on the functional currency of the entity holding the cash. In

36

addition, there are no significant restrictions that would preclude us from bringing these funds back to the U.S., aside from withholding taxes.

The following table represents a comparison of the net cash provided by operating activities, net cash provided by or used in investing activities, and net cash used in or provided by financing activities for the three months ended March 31, 2019 and 2018:

(in millions)	Three months ended
	March 31,						2019-2018
Cash Flow	2019			2018			Change			Percent
Net cash used in operating activities	$	(175.5	)	$	(71.0	)	$	(104.5	)	147	%
Net cash used in investing activities	(328.9		)	(1,220.4		)	891.5			(73	)%
Net cash provided by (used in) financing activities	22.3			(213.3		)	235.6			NM

Operating Activities

During the three months endedMarch 31, 2019, net cash used in operating activities was $175.5 million, compared to $71.0 million for the three months endedMarch 31, 2018. Our results of operations, after non-cash adjustments to net earnings, contributed $345.0 million to cash flows from operating activities during the three months endedMarch 31, 2019, compared to a contribution of $218.3 million as computed on the same basis for the prior year period. During the three months endedMarch 31, 2019, we had an unfavorable working capital change of $520.5 million, compared to an unfavorable change of $289.3 million during the three months endedMarch 31, 2018.

The change in working capital for the three months endedMarch 31, 2019, was primarily driven by an increase in inventories of $304.5 million and a decrease in accounts payable and accrued liabilities of $186.7 million. The increase in inventories was primarily due to building inventory volumes. We had lower sales volumes in the current period, primarily due to the adverse weather conditions causing a delayed spring season in North America and higher pipeline inventories, as discussed in the Overview. Accounts payable and accrued expenses decreased due to the timing of tax payments and the payment of employee short-term incentives in the three months ended March 31, 2019. Accrued expenses also decreased due to lower customer prepayments in Brazil in the current year period.

The change in working capital for the three months ended March 31, 2018, was primarily driven by an increase in inventories of $147.6 million, an increase in other assets of $137.5 million and a decrease in accounts payable and accrued liabilities of $74.9 million, partially offset by a decrease in accounts receivable of $62.5 million. The increase in inventories was primarily due to higher raw material costs and building inventory volumes for the upcoming spring season at March 31, 2018, compared to December 31, 2017, which was worsened by the delayed spring season in North America in 2018. The increase in other assets was primarily related to tax receivables and a change in the revenue recognition policy of Canpotex. The decrease in accounts payable and accrued liabilities was related to the timing of payments for customer rebate programs and employee incentives which are paid in the first quarter of the year, and lower ammonia and plant operating purchases. The change in accounts receivable was due to the timing of sales, as we had lower sales volumes in March 2018 compared to December 2017.

Investing Activities

Net cash used in investing activities was $328.9 million for the three months endedMarch 31, 2019, compared to $1.2 billion for the same period a year ago. We had capital expenditures of $313.9 million for the three months ended March 31, 2019, compared to $223.3 million in the prior year period. The increase was due to the acceleration of the K3 mineshafts at our Esterhazy Potash mine and increased expenditures as we have a larger asset base in Brazil related to the Acquired Business. In the prior year, we also completed the Acquisition for approximately $1.0 billion.

Financing Activities

Net cash provided by financing activities for the three months endedMarch 31, 2019, was $22.3 million, compared to net cash used in financing activities of $213.3 million for the same period in the prior year. For the three months ended March 31, 2019, we had net proceeds from borrowings on short-term debt of $152.3 million, compared to $65.3 million in the prior year. These borrowings were used to fund incremental seasonal working capital needs in our international locations.

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We made net payments on structured accounts payable of $110.2 million, compared to $61.9 million in the prior year period. We also paid $9.6 million of dividends in both periods

In the prior year period, we also made net payments on long-term debt of $206.9 million, including a prepayment of $200 million on our term loan.

Debt Instruments, Guarantees and Related Covenants

See Notes 11 and17 to the Consolidated Financial Statements in our 10-K Report.

Financial Assurance Requirements

In addition to various operational and environmental regulations related to our Phosphates segment, we are subject to financial assurance requirements. In various jurisdictions in which we operate, particularly Florida and Louisiana, we are required to pass a financial strength test or provide credit support, typically in the form of surety bonds, letters of credit, certificates of deposit or trust funds. Further information regarding financial assurance requirements is included in Management’s Discussion and Analysis of Results of Operations and Financial Condition in our 10-K Report, under "EPA RCRA Initiative", and in Note 10 to our Condensed Consolidated Financial Statements in this report.

Off-Balance Sheet Arrangements and Obligations

Information regarding off-balance sheet arrangements and obligations is included in Management’s Discussion and Analysis of Results of Operations and Financial Condition in our 10-K Report and Note 15 to our Condensed Consolidated Financial Statements in this report.

Contingencies

Information regarding contingencies is hereby incorporated by reference to Note 11 to our Condensed Consolidated Financial Statements in this report.

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Forward-Looking Statements

Cautionary Statement Regarding Forward Looking Information

All statements, other than statements of historical fact, appearing in this report constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include, among other things, statements about our expectations, beliefs, intentions or strategies for the future, including statements about our recently completed Acquisition and the anticipated benefits and synergies of the Acquisition, statements about MWSPC and its nature, impact and benefits, statements about other proposed or pending future transactions or strategic plans, statements concerning our future operations, financial condition and prospects, statements regarding our expectations for capital expenditures, statements concerning our level of indebtedness and other information, and any statements of assumptions regarding any of the foregoing. In particular, forward-looking statements may include words such as "anticipate", "believe", "could", "estimate", "expect", "intend", "may", "potential", "predict", "project" or "should". These statements involve certain risks and uncertainties that may cause actual results to differ materially from expectations as of the date of this filing.

Factors that could cause reported results to differ materially from those expressed or implied by the forward-looking statements include, but are not limited to, the following:

• difficulties with realization of the benefits of the Acquisition, including the risks that the Acquired Business may not be integrated successfully,

• the anticipated synergies or cost or capital expenditure savings from the Acquisition may not be fully realized or may take longer to realize than expected,

• because of political and economic instability in Brazil or changes in government policy in Brazil, our operations could be disrupted, as higher costs of doing business could result, including those associated with implementation of new freight tables and new mining legislation;

• business and economic conditions and governmental policies affecting the agricultural industry where we or our customers operate, including price and demand volatility resulting from periodic imbalances of supply and demand;

• changes in farmers’ application rates for crop nutrients;

• changes in the operation of world phosphate or potash markets, including continuing consolidation in the crop nutrient industry, particularly if we do not participate in the consolidation;

• the expansion or contraction of production capacity or selling efforts by competitors or new entrants in the industries in which we operate, including the effects of actions by members of Canpotex to prove the production capacity of potash expansion projects, through proving runs or otherwise;

• the expected cost of MWSPC and our expected remaining investment to be made in it, the amount, terms, availability and sufficiency of funding for MWSPC from us, Saudi Arabian Mining Company and Saudi Basic Industries Corporation and existing or future external sources, the timely development and commencement of operations of production facilities in the Kingdom of Saudi Arabia, political and economic instability in the region, and in general the future success of current plans for the joint venture and any future changes in those plans;

• build-up of inventories in the distribution channels for our products that can adversely affect our sales volumes and selling prices;

• the effect of future product innovations or development of new technologies on demand for our products;

• seasonality in our business that results in the need to carry significant amounts of inventory and seasonal peaks in working capital requirements, and may result in excess inventory or product shortages;

• changes in the costs, or constraints on supplies, of raw materials or energy used in manufacturing our products, or in the costs or availability of transportation for our products;

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• declines in our selling prices or significant increases in costs that can require us to write down our inventories to the lower of cost or market, or require us to impair goodwill or other long-lived assets, or establish a valuation allowance against deferred tax assets;

• the effects on our customers of holding high cost inventories of crop nutrients in periods of rapidly declining market prices for crop nutrients;

• the lag in realizing the benefit of falling market prices for the raw materials we use to produce our products that can occur while we consume raw materials that we purchased or committed to purchase in the past at higher prices;

• customer expectations about future trends in the selling prices and availability of our products and in farmer economics;

• disruptions to existing transportation or terminaling facilities, including those of Canpotex or any joint venture in which we participate;

• shortages or other unavailability of railcars, tugs, barges and ships for carrying our products and raw materials;

• the effects of and change in trade, including tariffs, particularly around Chinese trade policies, monetary, environmental, tax and fiscal policies, laws and regulations;

• foreign exchange rates and fluctuations in those rates;

• tax regulations, currency exchange controls and other restrictions that may affect our ability to optimize the use of our liquidity;

• other risks associated with our international operations, including any potential adverse effects related to the Miski Mayo mine in the event that protests against natural resource companies in Peru were to extend to or impact the Miski Mayo mine;

• adverse weather conditions affecting our operations, including the impact of potential hurricanes, excessive heat, cold, snow or rainfall, or drought;

• difficulties or delays in receiving, challenges to, increased costs of obtaining or satisfying conditions of, or revocation or withdrawal of required governmental and regulatory approvals, including permitting activities;

• changes in the environmental and other governmental regulation that applies to our operations, including federal legislation or regulatory action expanding the types and extent of water resources regulated under federal law and the possibility of further federal or state legislation or regulatory action affecting or related to greenhouse gas emissions, including carbon taxes or other measures that may be implemented in Canada or other jurisdictions in which we operate, or of restrictions or liabilities related to elevated levels of naturally-occurring radiation that arise from disturbing the ground in the course of mining activities or possible efforts to reduce the flow of nutrients into the Gulf of Mexico, the Mississippi River basin or elsewhere;

• the potential costs and effects of implementation of federal or state water quality standards for the discharge of nitrogen and/or phosphorus into Florida waterways;

• the financial resources of our competitors, including state-owned and government-subsidized entities in other countries;

• the possibility of defaults by our customers on trade credit that we extend to them or on indebtedness that they incur to purchase our products and that we guarantee, particularly when we are exiting our business operations or locations that produced or sold the products to that customer;

• any significant reduction in customers’ liquidity or access to credit that they need to purchase our products;

• the effectiveness of the processes we put in place to manage our significant strategic priorities, including the expansion of our Potash business and our investment in MWSPC, and to successfully integrate and grow acquired businesses;

• actual costs of various items differing from management’s current estimates, including, among others, asset retirement, environmental remediation, reclamation or other environmental obligations and Canadian resource

40

taxes and royalties, or the costs of MWSPC, its existing or future funding and our commitments in support of such funding;

• the costs and effects of legal and administrative proceedings and regulatory matters affecting us, including environmental, tax or administrative proceedings, complaints that our operations are adversely impacting nearby farms, businesses, other property uses or properties, settlements thereof and actions taken by courts with respect to approvals of settlements, costs related to defending and resolving global audit, appellate or other court-related activity other developments in legal proceedings and regulatory matters;

• the success of our efforts to attract and retain highly qualified and motivated employees;

• strikes, labor stoppages or slowdowns by our work force or increased costs resulting from unsuccessful labor contract negotiations, and the potential costs and effects of compliance with new regulations affecting our workforce, which increasingly focus on wages and hours, healthcare, retirement and other employee benefits;

• brine inflows at our Esterhazy, Saskatchewan potash mines as well as potential inflows at our other shaft mines;

• accidents or other incidents involving our properties or operations, including potential fires, explosions, seismic events, sinkholes, unsuccessful tailings management, ineffective mine safety procedures, or releases of hazardous or volatile chemicals;

• terrorism or other malicious intentional acts, including cybersecurity risks such as attempts to gain unauthorized access to, or disable, our information technology systems, or our costs of addressing malicious intentional acts;

• other disruptions of operations at any of our key production and distribution facilities, particularly when they are operating at high operating rates;

• changes in antitrust and competition laws or their enforcement;

• actions by the holders of controlling equity interests in businesses in which we hold a noncontrolling interest;

• changes in our relationships with other members of Canpotex or any joint venture in which we participate or their or our exit from participation in Canpotex or any such export association or joint venture, and other changes in our commercial arrangements with unrelated third parties;

• the adequacy of our property, business interruption and casualty insurance policies to cover potential hazards and risks incident to our business, and our willingness and ability to maintain current levels of insurance coverage as a result of market conditions, our loss experience and other factors;

• difficulties in realizing benefits under our long-term natural gas based pricing ammonia supply agreement with CF Industries, Inc., including the risks that the cost savings initially anticipated from the agreement may not be fully realized over the term of the agreement or that the price of natural gas or the market price for ammonia during the agreement's term are at levels at which the agreement’s natural gas based pricing is disadvantageous to us, compared with purchases in the spot market; and

• other risk factors reported from time to time in our Securities and Exchange Commission reports.

Material uncertainties and other factors known to us are discussed in Item 1A, "Risk Factors," of our annual report on Form 10-K for the year ended December 31, 2018 and incorporated by reference herein as if fully stated herein.

We base our forward-looking statements on information currently available to us, and we undertake no obligation to update or revise any of these statements, whether as a result of changes in underlying factors, new information, future events or other developments.

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ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

We are exposed to the impact of fluctuations in the relative value of currencies, the impact of interest rates, fluctuations in the purchase price of natural gas, ammonia and sulfur consumed in operations, and changes in freight costs, as well as changes in the market value of our financial instruments. We periodically enter into derivatives in order to mitigate our foreign currency risks, interest rate risks and the effects of changing commodity prices, but not for speculative purposes. See Note 15 to the Consolidated Financial Statements in our 10-K Report and Note 12 to the Condensed Consolidated Financial Statements in this report.

Foreign Currency Exchange Contracts

Due to the global nature of our operations, we are exposed to currency exchange rate changes which may cause fluctuations in our earnings and cash flows. Our primary foreign currency exposures are the Canadian dollar and Brazilian real. To reduce economic risk and volatility on expected cash flows that are denominated in the Canadian dollar and Brazilian real, we use financial instruments that may include forward contracts, zero-cost collars and/or futures. Mosaic hedges cash flows on a declining basis, up to 18 months for the Canadian dollar and up to 12 months for the Brazilian real. We may enter into hedges up to 36 months for expected Canadian dollar capital expenditures related to our Esterhazy K3 expansion program. Due to the Acquisition, Mosaic’s exposure to the Brazilian real has increased and, as a result, the amount of foreign derivatives that we have entered into related to the Brazilian real has increased.

As of March 31, 2019, and December 31, 2018, the fair value of our major foreign currency exchange contracts was ($11.2) million and $(49.1) million, respectively. The table below provides information about Mosaic’s significant foreign exchange derivatives.

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(in millions US$)	As of March 31, 2019											As of December 31, 2018
	Expected Maturity Date								Fair Value			Expected Maturity Date						Fair Value
	Years ending December 31,											Year ending December 31,
	2019		2020		2021		2022					2019		2020		2021
Foreign Currency Exchange Forwards
Canadian Dollar									$	(16.6	)							$	(40.7	)
Notional (million US$) - long Canadian dollars	$	505.0	$	259.7	$	138.2	$	19.1				$	651.3	$	170.1	$	138.2
Weighted Average Rate - Canadian dollar to U.S. dollar	1.3029		1.3000		1.3025		1.3070					1.2989		1.2877		1.3025
Foreign Currency Exchange Non-Deliverable Forwards
Brazilian Real									$	8.3								$	(2.5	)
Notional (million US$) - short Brazilian real	$	270.5	$	—	$	—	$	—				$	535.1	$	—	$	—
Weighted Average Rate - Brazilian real to U.S. dollar	3.7753		—		—		—					3.8385		—		—
Notional (million US$) - long Brazilian real	$	201.4	$	48.7	$	—	$	—				$	459.1	$	—	$	—
Weighted Average Rate - Brazilian real to U.S. dollar	3.9647		3.9004		—		—					3.8333		—		—
Indian Rupee									$	(2.9	)							$	(5.9	)
Notional (million US$) - short Indian rupee	$	152.9	$	—	$	—	$	—				$	137.9	$	—	$	—
Weighted Average Rate - Indian rupee to U.S. dollar	71.0120		—		—		—					73.0517		—		—
Total Fair Value									$	(11.2	)							$	(49.1	)

Further information regarding foreign currency exchange rates and derivatives is included in Management’s Discussion and Analysis of Financial Condition and Results of Operations in our 10-K Report and Note 12 to the Condensed Consolidated Financial Statements in this report.

Commodities

As of March 31, 2019, and December 31, 2018, the fair value of our natural gas commodities contracts was $(9.4) million and $(17.0) million, respectively.

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The table below provides information about our natural gas derivatives which are used to manage the risk related to significant price changes in natural gas.

(in millions)	As of March 31, 2019											As of December 31, 2018
	Expected Maturity Date											Expected Maturity Date
	Years ending December 31,											Years ending December 31,
	2019		2020		2021		2022		Fair Value			2019		2020		2021		2022		Fair Value
Natural Gas Swaps									$	(9.4	)									$	(17.0	)
Notional (million MMBtu) - long	15.5		17.8		13.8		3.7					20.4		15.8		13.2		2.9
Weighted Average Rate (US$/MMBtu)	$	2.17	$	1.82	$	1.74	$	1.49				$	2.22	$	1.92	$	1.73	$	1.47
Total Fair Value									$	(9.4	)									$	(17.0	)

Further information regarding commodities and derivatives is included in Management’s Discussion and Analysis of Financial Condition and Results of Operations in our 10-K Report and Note 12 to the Condensed Consolidated Financial Statements in this report.

Interest Rates

We manage interest expense through interest rate contracts to convert a portion of our fixed-rate debt into floating-rate debt. We also enter into interest rate swap agreements to hedge our exposure to changes in future interest rates related to anticipated debt issuances. As of March 31, 2019, and December 31, 2018, the fair value of our interest rate contracts was $(1.9) million and $(9.5) million, respectively. Further information regarding our interest rate contracts is included in Note 12 to the Condensed Consolidated Financial Statements in this report.

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ITEM 4. CONTROLS AND PROCEDURES

(a) Evaluation of Disclosure Controls and Procedures

We maintain disclosure controls and procedures designed to ensure that information required to be disclosed in our filings under the Securities Exchange Act of 1934 is (i) recorded, processed, summarized and reported within the time periods specified in the SEC’s rules and forms, and (ii) accumulated and communicated to management, including our principal executive officer and our principal financial officer, to allow timely decisions regarding required disclosures. Our management, with the participation of our principal executive officer and our principal financial officer, has evaluated the effectiveness of our disclosure controls and procedures as of the end of the period covered by this quarterly report on Form 10-Q. Our principal executive officer and our principal financial officer have concluded, based on such evaluations, that our disclosure controls and procedures were effective for the purpose for which they were designed as of the end of such period.

(b) Changes in Internal Control Over Financial Reporting

Our management, with the participation of our principal executive officer and our principal financial officer, have evaluated any changes in our internal control over financial reporting that occurred during the three months ended March 31, 2019 that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting. Our management, with the participation of our principal executive officer and principal financial officer, did not identify any such changes during the three months ended March 31, 2019.

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PART II. OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

We have included information about legal and environmental proceedings in Note 11 to our Condensed Consolidated Financial Statements in this report. This information is incorporated herein by reference.

We are also subject to the following legal and environmental proceedings in addition to those described in Note 12 of our Condensed Consolidated Financial Statements in this report:

Waters of the United States.  In June 2015, EPA and the U.S. Army Corps of Engineers (the “Corps”) jointly issued a final rule that proposed to clarify, but may actually expand, the scope of waters regulated under the federal Clean Water Act.  The final rule (the “2015 Clean Water Rule”) became effective in August 2015, but has been challenged through numerous lawsuits.  In October 2015, the U.S. Court of Appeals for the Sixth Circuit issued an order staying the effectiveness of the final rule nationwide pending adjudication of substantive challenges to the rule. In early 2017, the U.S. President issued an Executive Order directing EPA and the Corps to publish a proposed rule rescinding or revising the new rule. In June 2017, EPA and the Corps issued a proposed rule that would rescind the 2015 Clean Water Rule and re-codify regulatory text that existed prior to enactment of the 2015 Clean Water Rule.  In November 2017, EPA issued a rule notice proposing to extend the applicability date of the 2015 Clean Water Rule for two years from the date of final action on the proposed rule, to provide continuity and regulatory certainty while agencies proceed to consider potential changes to the 2015 Clean Water Rule. 

In January 2018, the U.S. Supreme Court unanimously held all challenges to the 2015 Clean Water Rule must be heard in federal district courts rather than in the federal courts of appeal, overruling a decision by the Sixth Circuit's Court of Appeals.  With the Sixth Circuit Court of Appeals no longer having jurisdiction, that court lifted its 2015 nationwide stay in February 2018. After the nationwide stay was lifted, a number of U.S. District Courts revived dormant litigation that challenged the 2015 Clean Water Rule.  In June 2018, the U.S. District Court for the Southern District of Georgia entered an injunction against implementation of the 2015 Clean Water Rule covering 11 states, including Florida.  As of September 2018, federal district courts have put the 2015 Clean Water Rule on hold in 28 states, the District of Columbia and the U.S. territories.

We believe the 2015 Clean Water Rule, if not rescinded, may expand the types and extent of water resources regulated under federal law, thereby potentially expanding our permitting and reporting requirements, increasing our costs of compliance, including costs associated with wetlands and stream mitigation, lengthening the time necessary to obtain permits, and potentially restricting our ability to mine certain of our phosphate rock reserves.

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ITEM 1A. RISK FACTORS

Important risk factors that apply to us are outlined in Item 1A in our Annual Report on Form 10-K for the fiscal year ended December 31, 2018 (the “10-K Report”). In addition to these risk factors, we include the following update related to the tailing dams in Brazil:

We use tailings, sediment and water dams to manage residual materials generated by our Brazilian mining operations. If our operational, environmental or safety procedures are not effective, an accident involving these impoundments could result in damage to property or the environment, the inability to operate our facilities, or serious injuries or death, any of which could materially adversely affect our results of operations in Brazil.

Mining and processing of potash and phosphate generate residual materials that must be managed both during the operation of the facility and upon facility closure. Potash tailings, consisting primarily of salt and clay, are stored in surface disposal sites. Phosphate clay residuals from mining in Brazil are deposited in large tailing dams. They are regularly monitored to evaluate structural stability and for leaks. The failure of tailings dams and other impoundments at any of our Brazilian mining operations could cause severe property and environmental damage and loss of life. As a result, we apply significant operational and financial resources and both internal and external technical resources towards operating those facilities safely.

We own and maintain 11 tailings dams in Brazil. In response to an unaffiliated dam collapse in Brazil, we arranged for an independent third-party assessment of all our Brazilian dams, which we expect to be completed during the second quarter of 2019. Recently, Brazil’s National Mining Agency implemented new regulatory standards. As a result of these inspections and the new regulatory standards, we have temporarily idled operations at four tailings dams and the three related mines at Araxá, Tapira and Catalão. In addition, we continue to augment our existing practices in an effort to reduce the risk of catastrophic failure and expect to bring all our tailings dams to be in compliance with Brazilian safety requirements. As part of our remediation efforts, and in the ordinary course of business, we plan to build and license new dams in Brazil.

Legislation at both Brazilian federal and state levels has introduced new rules regarding tailings dam safety, construction, licensing and operations. We cannot predict the full impact of these legislative or potentially related judicial actions, or future actions, or whether or how it would affect our Brazilian operations or customers.

Any accident involving our Brazilian tailings or other dams, or any shut down or idling of our related mines, could have a material adverse effect on our results of operations.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

Pursuant to our employee stock plans relating to the grant of employee stock options, stock appreciation rights, restricted stock unit awards, and other equity-based awards, we have granted and may in the future grant employee stock options to purchase shares of our Common Stock for which the purchase price may be paid by means of delivery to us by the optionee of shares of our Common Stock that are already owned by the optionee (at a value equal to market value on the date of the option exercise). During the periods covered by this report, no options to purchase shares of our Common Stock were exercised for which the purchase price was so paid.

We made no share repurchases during the three months endedMarch 31, 2019.

ITEM 4. MINE SAFETY DISCLOSURES

Information concerning mine safety violations or other regulatory matters required by Section 1503(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act and Item 104 of Regulation S-K is included in Exhibit 95 to this report.

ITEM 6. EXHIBITS

The following Exhibits are being filed herewith.

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Exhibit Index
Exhibit No	Description	Incorporated Herein by Reference to	Filed with Electronic Submission
31.1	Certification Required by Rule 13a-14(a).		X
31.2	Certification Required by Rule 13a-14(a).		X
32.1	Certification Required by Rule 13a-14(b) and Section 1350 of Chapter 63 of Title 18 of the United States Code.		X
32.2	Certification Required by Rule 13a-14(b) and Section 1350 of Chapter 63 of Title 18 of the United States Code.		X
95	Mine Safety Disclosures		X
101	Interactive Data Files		X

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Signatures

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

THE MOSAIC COMPANY
by:	/S/ CLINT C. FREELAND
	Clint C. Freeland
	Senior Vice President and Chief Financial Officer
	(on behalf of the registrant and as principal accounting officer)

May 7, 2019

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EX-31.1

Exhibit 31.1

Certification Required by Rule 13a-14(a)

I, James "Joc" C. O'Rourke, certify that:

1. I have reviewed this quarterly report on Form 10-Q of The Mosaic Company;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent function):

a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

May 7, 2019

/s/ James "Joc" C. O'Rourke

James "Joc" C. O'Rourke

Chief Executive Officer and President

The Mosaic Company

EX-31.2

Exhibit 31.2

Certification Required by Rule 13a-14(a)

I, Clint C. Freeland, certify that:

1. I have reviewed this quarterly report on Form 10-Q of The Mosaic Company;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent function):

a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

May 7, 2019

/s/ Clint C. Freeland

Clint C. Freeland

Senior Vice President and Chief Financial Officer

The Mosaic Company

EX-32.1

Exhibit 32.1

Certification of Chief Executive Officer Required by Rule 13a-14(b)

and Section 1350 of Chapter 63 of Title 18 of the United States Code

I, James "Joc" C. O'Rourke, the Chief Executive Officer and President of The Mosaic Company, certify that (i) the Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2019 of The Mosaic Company fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934 and (ii) the information contained in such report fairly presents, in all material respects, the financial condition and results of operations of The Mosaic Company.

May 7, 2019

/s/ James "Joc" C. O'Rourke

James "Joc" C. O'Rourke

Chief Executive Officer and President

The Mosaic Company

EX-32.2

Exhibit 32.2

Certification of Chief Financial Officer Required by Rule 13a-14(b)

and Section 1350 of Chapter 63 of Title 18 of the United States Code

I, Clint C. Freeland, the Senior Vice President and Chief Financial Officer of The Mosaic Company, certify that (i) the Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2019 of The Mosaic Company fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934 and (ii) the information contained in such report fairly presents, in all material respects, the financial condition and results of operations of The Mosaic Company.

May 7, 2019

/s/ Clint C. Freeland

Clint C. Freeland

Senior Vice President and Chief Financial Officer

The Mosaic Company

EX-95

Exhibit 95

MINE SAFETY DISCLOSURES

The following table shows, for each of our U.S. mines that is subject to the Federal Mine Safety and Health Act of 1977 (“MSHA”), the information required by Section 1503(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act and Item 104 of Regulation S-K. Section references are to sections of MSHA.

			Potash Mine		Florida Phosphate Rock Mines
Three Months Ended March 31, 2019			Carlsbad,  New Mexico		Four Corners		South Fort Meade		Wingate		South Pasture
	Section 104 citations for violations of mandatory health or safety standards that could significantly and substantially contribute to the cause and effect of a mine safety or health hazard (#)		2		—		—		—		—
	Section 104(b) orders (#)		—		—		—		—		—
	Section 104(d) citations and orders (#)		—		—		—		—		—
	Section 110(b)(2) violations (#)		—		—		—		—		—
	Section 107(a) orders (#)		—		—		—		—		—
	Proposed assessments under MSHA (whole dollars)		$	7,243	$	7,798	$	—	$	513	$	547
	Mining-related fatalities (#)		—		—		—		—		—
	Section 104(e) notice		No		No		No		No		No
	Notice of the potential for a pattern of violations under Section 104(e)		No		No		No		No		No
	Legal actions before the Federal Mine Safety and Health Review Commission (“FMSHRC”) initiated (#)		—		—		—		—		—
	Legal actions before the FMSHRC resolved (#)		—		—		—		—		—
	Legal actions pending before the FMSHRC, end of period:
		Contests of citations and orders referenced in Subpart B of 29 CFR Part 2700 (#)	—		—		—		—		—
		Contests of proposed penalties referenced in Subpart C of 29 CFR Part 2700 (#)	—		—		—		—		—
		Complaints for compensation referenced in Subpart D of 29 CFR Part 2700 (#)	—		—		—		—		—
		Complaints of discharge, discrimination or interference referenced in Subpart E of 29 CFR Part 2700 (#)	—		—		—		—		—
		Applications for temporary relief referenced in Subpart F of 29 CFR Part 2700 (#)	—		—		—		—		—
		Appeals of judges’ decisions or orders referenced in Subpart H of 29 CFR Part 2700 (#)	—		—		—		—		—
		Total pending legal actions (#)	—		—		—		—		—

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Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2019	May 03, 2019
Document And Entity Information [Abstract]
Entity registrant name	MOSAIC CO
Trading symbol	MOS
Document type	10-Q
Entity central index key	0001285785
Amendment flag	false
Entity current reporting status	Yes
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q1
Document Period End Date	Mar. 31, 2019
Current fiscal year end date	--12-31
Entity filer category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
Entity common stock shares outstanding		385,788,256

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Condensed Consolidated Statements of Earnings (Unaudited) - USD ($) shares in Millions, $ in Millions		3 Months Ended
		Mar. 31, 2019	Mar. 31, 2018
Net sales		$ 1,899.7	$ 1,933.7
Gross margin		309.5	242.1
Selling, general and administrative expenses		93.5	93.6
Other operating expense		13.9	67.8
Operating earnings		202.1	80.7
Interest expense, net		(47.0)	(49.4)
Foreign currency transaction gain (loss)		22.6	(32.2)
Other expense		(1.1)	(5.6)
Earnings (loss) from consolidated companies before income taxes		176.6	(6.5)
Provision for (benefit from) income taxes		46.6	(49.9)
Earnings from consolidated companies		130.0	43.4
Equity in net loss of nonconsolidated companies		(0.1)	(3.3)
Net earnings including noncontrolling interests		129.9	40.1
Less: Net loss attributable to noncontrolling interests		(0.9)	(2.2)
Net earnings attributable to Mosaic		$ 130.8	$ 42.3
Basic net earnings per share attributable to Mosaic		$ 0.34	$ 0.11
Basic weighted average number of shares outstanding		385.5	382.6
Diluted net earnings per share attributable to Mosaic		$ 0.34	$ 0.11
Diluted weighted average number of shares outstanding		387.4	384.1
Product [Member]
Net sales	[1]	$ 1,899.7	$ 1,933.7
Cost of goods sold		$ 1,590.2	$ 1,691.6

[1] Revenues are attributed to countries based on location of customer.

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Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Statement of Comprehensive Income [Abstract]
Net earnings including noncontrolling interest	$ 129.9	$ 40.1
Other comprehensive income (loss), net of tax
Foreign currency translation gain (loss), net of tax	51.8	(139.3)
Net actuarial (loss) gain and prior service cost, net of tax	(1.0)	2.1
Amortization of gain on interest rate swap, net of tax	0.6	0.4
Net gain (loss) on marketable securities held in trust fund, net of tax	10.0	(3.9)
Other comprehensive income (loss)	61.4	(140.7)
Comprehensive income (loss)	191.3	(100.6)
Less: Comprehensive loss attributable to noncontrolling interest	(1.0)	(2.9)
Comprehensive income (loss) attributable to Mosaic	$ 192.3	$ (97.7)

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Condensed Consolidated Balance Sheet - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 384.6	$ 847.7
Receivables, net	792.0	838.5
Inventories	2,572.1	2,270.2
Other current assets	397.6	280.6
Total current assets	4,146.3	4,237.0
Property, plant and equipment, net of accumulated depreciation	11,942.7	11,746.5
Investments in nonconsolidated companies	823.3	826.6
Goodwill	1,726.8	1,707.5
Deferred income taxes	345.9	343.8
Other assets	1,460.3	1,257.8
Total assets	20,445.3	20,119.2
Current liabilities:
Short-term debt	167.5	11.5
Current maturities of long-term debt	40.8	26.0
Structured accounts payable arrangements	466.9	572.8
Accounts payable	781.6	780.9
Accrued liabilities	940.4	1,092.5
Total current liabilities	2,397.2	2,483.7
Long-term debt, less current maturities	4,533.0	4,491.5
Deferred income taxes	1,122.4	1,080.6
Other noncurrent liabilities	1,585.2	1,458.7
Equity:
Preferred stock, par value	0.0	0.0
Common stock, par value	3.8	3.8
Capital in excess of par value	996.2	985.9
Retained earnings	11,196.8	11,064.7
Accumulated other comprehensive loss	(1,595.6)	(1,657.1)
Total Mosaic stockholders' equity	10,601.2	10,397.3
Noncontrolling interests	206.3	207.4
Total equity	10,807.5	10,604.7
Total liabilities and equity	$ 20,445.3	$ 20,119.2

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Condensed Consolidated Balance Sheets (Unaudited) (Parentheticals) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Accumulated depreciation	$ 7,195.7	$ 6,934.5
Common stock, par value	$ 0.01	$ 0.01
Common stock, authorized	1,000,000,000	1,000,000,000
Common stock, issued	389,560,531	389,242,360
Common stock, outstanding	385,788,256	385,470,085
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, authorized	15,000,000	15,000,000
Preferred stock, issued	0	0
Preferred stock, outstanding	0	0

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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018	Mar. 31, 2019	Dec. 31, 2018	Mar. 31, 2018
Cash Flows from Operating Activities
Net earnings including noncontrolling interest	$ 129.9	$ 40.1
Adjustments to reconcile net earnings including noncontrolling interests to net cash provided by operating activities:
Depreciation, depletion and amortization	218.1	217.5
Business Combination, Inventory Acquired, Amortization of Fair Value Adjustment	(1.2)	(30.1)
Deferred and other income taxes	5.3	(63.2)
Equity in net loss of nonconsolidated companies, net of dividends	3.6	3.3
Accretion expense for asset retirement obligations	15.3	12.1	$ 48.0
Share-based compensation expense	15.3	15.7
Unrealized loss (gain) on derivatives	(46.9)	14.2
Other	5.6	8.7
Changes in assets and liabilities, excluding effects of acquisition:
Receivables, net	59.0	62.5
Inventories	(304.5)	(147.6)
Other current and noncurrent assets	(66.0)	(137.5)
Accounts payable and accrued liabilities	(186.7)	(74.9)
Other noncurrent liabilities	(22.3)	8.2
Net cash used in operating activities	(175.5)	(71.0)
Cash Flows from Investing Activities
Capital expenditures	(313.9)	(223.3)
Purchases of available-for-sale securities - restricted	(186.9)	(185.7)
Proceeds from sale of available-for-sale securities - restricted	182.3	184.0
Investments in consolidated affiliate	0.0	1.3
Payments to Acquire Businesses, Gross	0.0	(994.6)
Payments to Acquire Held-to-maturity Securities	(13.0)	0.0
Proceeds from Sale of Held-to-maturity Securities	2.3	0.0
Other	0.3	(2.1)
Net cash used in investing activities	(328.9)	(1,220.4)
Cash Flows from Financing Activities
Payments of short-term debt	(53.7)	0.0
Proceeds from issuance of short-term debt	206.0	65.3
Payments of structured accounts payable arrangements	(319.7)	(235.7)
Proceeds from structured accounts payable arrangements	209.5	173.8
Payments of long-term debt	(10.1)	(206.9)
Cash dividends paid	(9.6)	(9.6)
Other	(0.1)	(0.2)
Net cash provided by (used in) financing activities	22.3	(213.3)
Effect of exchange rate changes on cash	13.5	13.4
Net change in cash, cash equivalents and restricted cash	(468.6)	(1,491.3)
Cash, cash equivalents and restricted cash-beginning of period	871.0	2,194.4	2,194.4
Cash, cash equivalents and restricted cash-end of period	402.4	703.1	871.0
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Abstract]
Cash and cash equivalents				$ 384.6	$ 847.7	$ 659.4
Restricted cash in other current assets				8.8		9.4
Restricted cash in other assets				9.0	15.8	34.3
Cash, cash equivalents and restricted cash-end of period	871.0	2,194.4	$ 2,194.4	$ 402.4	$ 871.0	$ 703.1
Supplemental Disclosure of Cash Flow Information:
Interest (net of amount capitalized)	10.5	11.1
Income taxes (net of refunds)	$ 93.8	$ 12.8

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Condensed Consolidated Statements of Cash Flow Parenthetical - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Statement of Cash Flows [Abstract]
Capitalized interest costs	$ 6.0	$ 5.3

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Condensed Consolidated Statements of Shareholders Equity (Unaudited) - USD ($) $ in Millions	Total	Common Stock	Capital in Excess of Par Value	Retained Earnings	Accumulated Other Comprehensive Loss	Noncontrolling Interest
Beginning balance at Dec. 31, 2017	$ 9,639.1	$ 3.5	$ 44.5	$ 10,631.1	$ (1,061.6)	$ 21.6
Common stock shares outstanding, beginning balance (in shares) at Dec. 31, 2017		351,000,000
Adoption of New Accounting Standards	2.7			2.7
Total comprehensive income (loss)	(100.6)			42.3	(140.0)	(2.9)
Stock option exercises	(2.7)		(2.7)
Stock option exercises (in shares)		200,000
Stock based compensation	15.7		15.7
Stock Issued During Period, Shares, Acquisitions		34,200,000
Stock Issued During Period, Value, Acquisitions	920.0	$ 0.3	919.7
Dividends	(0.5)			(0.5)
Dividends for noncontrolling interests	(0.2)					(0.2)
Distribution to noncontrolling interests	206.2					206.2
Ending balance at Mar. 31, 2018	10,679.7	$ 3.8	977.2	10,675.6	(1,201.6)	224.7
Common stock shares outstanding, ending balance (in shares) at Mar. 31, 2018		385,400,000
Beginning balance at Dec. 31, 2018	$ 10,604.7	$ 3.8	985.9	11,064.7	(1,657.1)	207.4
Common stock shares outstanding, beginning balance (in shares) at Dec. 31, 2018	385,470,085	385,500,000
Adoption of New Accounting Standards	$ 0.6			0.6
Total comprehensive income (loss)	191.3			130.8	61.5	(1.0)
Stock option exercises	(5.0)		(5.0)
Stock option exercises (in shares)		300,000
Stock based compensation	15.3		15.3
Dividends	(0.7)			(0.7)
Dividends for noncontrolling interests	(0.1)					(0.1)
Ending balance at Mar. 31, 2019	$ 10,807.5	$ 3.8	$ 996.2	$ 11,196.8	$ (1,595.6)	$ 206.3
Common stock shares outstanding, ending balance (in shares) at Mar. 31, 2019	385,788,256	385,800,000

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Condensed Consolidated Statements of Shareholders Equity (Unaudited) (Parentheticals) - $ / shares	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Statement of Stockholders' Equity [Abstract]
Dividends per share	$ 0.10	$ 0.10

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Organization and Nature of Business

3 Months Ended

Mar. 31, 2019

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Organization and Nature of Business

Organization and Nature of Business

The Mosaic Company (“Mosaic”, and, with its consolidated subsidiaries, “we”, “us”, “our”, or the “Company”) produces and markets concentrated phosphate and potash crop nutrients. We conduct our business through wholly and majority owned subsidiaries and businesses in which we own less than a majority or a noncontrolling interest, including consolidated variable interest entities and investments accounted for by the equity method.

On January 8, 2018, we completed our acquisition (the “Acquisition”) of Vale Fertilizantes S.A. (now known as Mosaic Fertilizantes P&K S.A. or the “Acquired Business”). Upon completion of the Acquisition, we became the leading fertilizer producer and distributor in Brazil.

We are organized into the following business segments:

• Our Phosphates business segment owns and operates mines and production facilities in Florida which produce concentrated phosphate crop nutrients and phosphate-based animal feed ingredients, and processing plants in Louisiana which produce concentrated phosphate crop nutrients. As part of the Acquisition, we acquired an additional 40% economic interest in the Miski Mayo Phosphate Mine in Peru, which increased our aggregate interest to 75%. These results are consolidated in the Phosphates segment. The Phosphates segment also includes our 25% interest in the Ma'aden Wa'ad Al Shamal Phosphate Company (the “MWSPC”), a joint venture to develop, own and operate integrated phosphate production facilities in the Kingdom of Saudi Arabia. We market approximately 25% of the MWSPC phosphate production. We recognize our equity in the net earnings or losses relating to MWSPC on a one-quarter lag in our Condensed Consolidated Statements of Earnings.

• Our Potash business segment owns and operates potash mines and production facilities in Canada and the U.S. which produce potash-based crop nutrients, animal feed ingredients and industrial products. Potash sales include domestic and international sales. We are a member of Canpotex, Limited (“Canpotex”), an export association of Canadian potash producers through which we sell our Canadian potash outside the U.S. and Canada.

• Our Mosaic Fertilizantes business segment includes the assets in Brazil that we acquired in the Acquisition, which include five phosphate rock mines, four phosphate chemical plants and a potash mine in Brazil. The segment also includes our legacy distribution business in South America, which consists of sales offices, crop nutrient blending and bagging facilities, port terminals and warehouses in Brazil and Paraguay. We also have a majority interest in Fospar S.A., which owns and operates a single superphosphate granulation plant and a deep-water crop nutrition port and throughput warehouse terminal facility in Brazil.

Intersegment eliminations, unrealized mark-to-market gains/losses on derivatives, debt expenses, Streamsong Resort^® results of operations, and the results of the China and India distribution businesses are included within Corporate, Eliminations and Other. As of January 1, 2019, certain selling, general and administrative costs that are not controllable by the business segments are no longer allocated to segments and are included within Corporate, Eliminations and Other. Our operating results for the quarter ended March 31, 2018, have been recast to reflect this change. See Note 15 of the Condensed Consolidated Financial Statements in this report for segment results.

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Summary of Significant Accounting Policies

3 Months Ended

Mar. 31, 2019

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Summary of Significant Accounting Policies

Statement Presentation and Basis of Consolidation

The accompanying unaudited Condensed Consolidated Financial Statements of Mosaic have been prepared on the accrual basis of accounting and in accordance with the requirements of the Securities and Exchange Commission (“SEC”) for interim financial reporting. As permitted under these rules, certain footnotes and other financial information that are normally required by accounting principles generally accepted in the United States (“GAAP”) can be condensed or omitted. The Condensed Consolidated Financial Statements included in this document reflect, in the opinion of our management, all adjustments (consisting of only normal recurring adjustments) necessary for a fair presentation of the results for the interim periods presented. The following notes should be read in conjunction with the accounting policies and other disclosures in the Notes to the Consolidated Financial Statements included in our Annual Report on Form 10-K filed with the SEC for the year ended December 31, 2018 (the “10-K Report”). Sales, expenses, cash flows, assets and liabilities can and do vary during the year as a result of seasonality and other factors. Therefore, interim results are not necessarily indicative of the results to be expected for the full fiscal year.

The accompanying Condensed Consolidated Financial Statements include the accounts of Mosaic, its majority owned subsidiaries, and certain variable interest entities in which Mosaic is the primary beneficiary. Certain investments in companies where we do not have control but have the ability to exercise significant influence are accounted for by the equity method.

Leases

At inception, we determine whether an arrangement is a lease and the appropriate lease classification. Operating leases with terms greater than twelve months are included as operating lease right-of-use (“ROU”) assets within other assets, and lease liabilities within accrued liabilities and other noncurrent liabilities on our consolidated balance sheets. Finance leases with terms greater than twelve months are included as finance ROU assets within property and equipment, and finance lease liabilities within current maturities of long-term debt and long-term debt on our consolidated balance sheets.  Leases with terms of less than twelve months, referred to as short-term leases, do not create an ROU asset or lease liability on the balance sheet. 

ROU assets represent our right to use an underlying asset for the lease term. Lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at the commencement date of the lease, based on the present value of lease payments over the lease term. As most of our leases do not provide an implicit rate, we use our incremental borrowing rate based on the information available at the commencement date in determining the present value of lease payments. The company's incremental borrowing rate for a lease is the rate of interest it would have to pay on a collateralized basis to borrow an amount equal to the lease payments under similar terms. For both operating and finance leases, the initial ROU asset equals the lease liability, plus initial direct costs, less lease incentives received. Our lease agreements may include options to extend or terminate the lease, which are included in the lease term at the commencement date when it is reasonably certain that we will exercise that option. In general, we do not consider optional periods included in our lease agreements as reasonably certain of exercise at inception.

We have lease agreements with lease and non-lease components, which are generally accounted for separately. For full-service railcar leases, we account for the lease and non-lease components as a single lease component. Additionally, for certain equipment leases, we apply assumptions using a portfolio approach given the generally consistent terms of the agreements. Lease payments based on usage (for example, per-mile or per-hour charges), referred to as variable lease costs, are recorded separately from the determination of the ROU asset and lease liability.     

Accounting Estimates

Preparation of the Condensed Consolidated Financial Statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of net sales and expenses during the reporting periods. The most significant estimates made by management relate to the estimates of fair value of acquired assets and liabilities, the recoverability of non-current assets including goodwill, the useful lives and net realizable values of long-lived assets, environmental and reclamation liabilities including asset retirement obligations (“ARO”), and income tax-related accounts, including the valuation allowance against deferred income tax assets. Actual results could differ from these estimates.

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Leases

3 Months Ended

Mar. 31, 2019

Leases [Abstract]

Operating and Finance Leases [Text Block]

Leases

In February 2016, the FASB issued a new standard (“ASC 842”) intended to improve financial reporting about leasing transactions. The FASB issued additional guidance subsequently to clarify aspects of the standard and provide certain relief for implementation. ASC 842 requires lessees to recognize on the balance sheet the rights and obligations created by leases with terms greater than twelve months. The primary change created by the new standard is the recognition of ROU assets and lease liabilities by lessees for those leases previously classified as operating leases. ASC 842 requires disclosures to enable users of financial statements to assess the amount, timing, and uncertainty of cash flows arising from leases.

We adopted ASC 842 effective January 1, 2019, with an immaterial cumulative-effect adjustment to the opening balance of retained earnings as of that date. As allowed under the standard, we have not changed our accounting and reporting for lease arrangements for periods presented prior to January 1, 2019. The impacts upon adoption on previously reported amounts are shown below. Our accounting for capital leases (now referred to as finance leases) remained substantially unchanged. Adoption of the standard is not expected to significantly impact lease activity reported in our statements of earnings and cash flows.

We have operating and finance leases for heavy mobile equipment, railcars, fleet vehicles, field and plant equipment, river and cross-Gulf vessels, corporate offices, land, and computer equipment. Our leases have remaining lease terms of 1 year to 29 years, some of which may include options to extend the leases for up to 10 years, and some of which may include options to terminate the leases within 1 year. As of March 31, 2019, assets recorded under finance leases, included within property, plant and equipment, were $405.1 million, and accumulated depreciation associated with finance leases was $32.9 million. As of March 31, 2019, assets recorded under operating leases were $244.8 million, included in other assets.

Adoption of the standard related to leases impacted our previously reported results as follows:

	Balance as of		Adoption		Balance as of
	December 31, 2018		Adjustments		January 1, 2019
(in millions)
Operating lease right-of-use assets	$	—	$	241.1	$	241.1
Finance lease right-of-use assets	340.9		—		340.9
Accrued and other noncurrent liabilities	—		241.1		241.1
Long-term debt, including current maturities	302.2		—		302.2

Adoption of ASC 842 had no impact to cash from or used in operating, financing, or investing on our consolidated cash flows statements.

The components of lease expense, included primarily within cost of goods sold and selling, general and administrative expenses, were as follows:

	Three Months Ended   March 31, 2019
(in millions)
Operating lease cost	$	26.6
Finance lease cost:
Amortization of right-of-use assets	$	6.3
Interest on lease liabilities	4.1
	$	10.4
Short-term lease cost	$	17.6
Variable lease cost	4.6
Total lease cost	$	59.2

Supplement cash flow information related to leases was as follows:

	Three Months Ended   March 31, 2019
(In millions)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	26.7
Operating cash flows from finance leases	$	2.8
Financing cash flows from finance leases	$	9.1
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	29.0
Finance leases	$	66.0

Other information related to leases was as follows:

	Three Months Ended   March 31, 2019
Weighted Average Remaining Lease Term
Operating leases	4.6 years
Finance leases	5.4 years
Weighted Average Discount Rate
Operating leases	6.7	%
Finance leases	4.0	%

Future lease payments under non-cancellable leases recorded as of March 31, 2019, were as follows:

	Operating Leases			Finance Leases
(in millions)
2019 (excluding the three months ended March 31, 2019)	$	79.1		$	32.4
2020	75.6			50.6
2021	49.8			45.6
2022	34.9			37.9
2023	24.9			70.0
Thereafter	24.0			172.9
Total future lease payments	$	288.3		$	409.4
Less imputed interest	(40.7		)	(56.4		)
Total	$	247.6		$	353.0
Reported as of March 31, 2019
Other accrued liabilities	$	83.9		$	—
Current maturities of long-term debt	—			35.2
Other noncurrent liabilities	163.7			—
Long-term debt, less current maturities	—			317.8
Total	$	247.6		$	353.0

A schedule of our minimum lease payments under non-cancelable capital and operating leases as of December 31, 2018 is as follows:

(in millions)	Operating Leases		Capital Leases
2019	$	97.5	$	20.4
2020	76.8		26.4
2021	54.7		23.4
2022	36.6		17.2
2023	28.1		48.9
Subsequent years	30.9		165.9
	$	324.6	$	302.2

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Other Financial Statement Data

3 Months Ended

Mar. 31, 2019

Other Financial Statement Data [Abstract]

Other Financial Statement Data

Other Financial Statement Data

The following provides additional information concerning selected balance sheet accounts:

	March 31, 2019		December 31, 2018
Other current assets
Income and other taxes receivable	$	240.7	$	149.2
Prepaid expenses	114.9		86.8
Other	42.0		44.6
	$	397.6	$	280.6
Other assets
Restricted cash	$	9.0	$	15.8
MRO inventory	138.8		134.6
Marketable securities held in trust	656.7		632.3
Operating lease right-of-use assets	244.8		—
Indemnification asset	30.3		30.7
Long-term receivable	84.9		91.7
Other	295.8		352.7
	$	1,460.3	$	1,257.8
Accrued liabilities
Accrued dividends	$	0.7	$	11.8
Payroll and employee benefits	121.4		$	217.5
Asset retirement obligations	140.0		136.3
Customer prepayments (a)	188.2		199.8
Accrued income tax	29.9		65.5
Operating lease obligation	83.9		—
Other	376.3		461.6
	$	940.4	$	1,092.5
Other noncurrent liabilities
Asset retirement obligations	$	1,020.0	$	1,023.8
Operating lease obligation	163.7		—
Accrued pension and postretirement benefits	147.5		146.3
Unrecognized tax benefits	34.6		33.0
Other	219.4		255.6
	$	1,585.2	$	1,458.7

______________________________

^(a) The timing of recognition of revenue related to our performance obligations may be different than the timing of collection of cash related to those performance obligations.  Specifically, we collect prepayments from certain customers in Brazil, as well as timing of cash collection from Canpotex which may occur prior to delivery of product to the end customer.  We generally satisfy our contract liabilities within one quarter of incurring the liability.

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Earnings Per Share

3 Months Ended

Mar. 31, 2019

Earnings Per Share [Abstract]

Earnings Per Share

Earnings Per Share

The numerator for basic and diluted earnings per share (“EPS”) is net earnings attributable to Mosaic. The denominator for basic EPS is the weighted average number of shares outstanding during the period. The denominator for diluted EPS also includes the weighted average number of additional common shares that would have been outstanding if the dilutive potential common shares had been issued, unless the shares are anti-dilutive.

The following is a reconciliation of the numerator and denominator for the basic and diluted EPS computations:

	Three months ended
	March 31,
	2019		2018
Net earnings attributable to Mosaic	$	130.8	$	42.3
Basic weighted average number of shares outstanding	385.5		382.6
Dilutive impact of share-based awards	1.9		1.5
Diluted weighted average number of shares outstanding	387.4		384.1
Basic net earnings per share attributable to Mosaic	$	0.34	$	0.11
Diluted net earnings per share attributable to Mosaic	$	0.34	$	0.11

A total of 1.6 million and 2.7 million shares of common stock subject to issuance upon exercise of stock options for the three months ended March 31, 2019 and March 31, 2018, respectively, have been excluded from the calculation of diluted EPS because the effect would have been anti-dilutive.

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Income Taxes

3 Months Ended

Mar. 31, 2019

Income Tax Disclosure [Abstract]

Income Taxes

Income Taxes

During the three months ended March 31, 2019, gross unrecognized tax benefits increased by $1.2 million to $39.3 million. The increase is primarily related to U.S. tax positions. If recognized, approximately $19.3 million of the $39.3 million in unrecognized tax benefits would affect our effective tax rate and net earnings in future periods. 

We recognize interest and penalties related to unrecognized tax benefits as a component of our income tax provision. We had accrued interest and penalties totaling $5.5 million and $4.9 million as of March 31, 2019 and December 31, 2018, respectively, that were included in other noncurrent liabilities in the Condensed Consolidated Balance Sheets.

Accounting for uncertain tax positions is determined by prescribing the minimum probability threshold that a tax position is more likely than not to be sustained based on the technical merits of the position. Mosaic is continually under audit by various tax authorities in the normal course of business. Such tax authorities may raise issues contrary to positions taken by the Company. If such positions are ultimately not sustained by the Company, this could result in material assessments to the Company. The costs related to defending, if needed, such positions on appeal or in court may be material. The Company believes that any issues raised are properly accounted for.

For the three months endedMarch 31, 2019, tax expense specific to the period was a benefit of approximately $0.4 million. In addition to items specific to the period, our income tax rate is impacted by the mix of earnings across the jurisdictions in which we operate, by a benefit associated with depletion, and by the impact of certain entities being taxed in both foreign jurisdictions and the U.S., including foreign tax credits for various taxes incurred.

Generally, for interim periods, income tax is equal to the total of (1) year-to-date pretax income multiplied by our forecasted effective tax rate plus (2) tax expense items specific to the period. In situations where we expect to report losses for which we do not expect to receive tax benefits, we are required to apply separate forecasted effective tax rates to those jurisdictions rather than including them in the consolidated effective tax rate. For the three months ended March 31, 2019, income tax expense was impacted by this set of rules, resulting in an additional benefit of $0.3 million compared to what would have been recorded under the general rule on a consolidated basis.

For the three months endedMarch 31, 2018, tax expense specific to the period was a benefit of approximately $48.0 million. This consisted primarily of a partial release of $57.0 million of valuation allowance as a result of revisions to provisional estimates related to The Act. This was partially offset by a share-based excess cost of $1.6 million, a change in AMT refunds of $2.0 million, and changes in estimates related to prior years of $3.8 million.

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Inventories

3 Months Ended

Mar. 31, 2019

Inventory Disclosure [Abstract]

Inventories

Inventories

Inventories consist of the following:

	March 31, 2019		December 31, 2018
Raw materials	$	116.6	$	147.5
Work in process	610.1		625.5
Finished goods	1,665.3		1,343.8
Final price deferred(a)	71.4		39.3
Operating materials and supplies	108.7		114.1
	$	2,572.1	$	2,270.2

______________________________

^(a)  Final price deferred is product that has shipped to customers, but the price has not yet been agreed upon.

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Goodwill

3 Months Ended

Mar. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

Goodwill

Mosaic had goodwill of $1.7 billion at March 31, 2019 and December 31, 2018. We review goodwill for impairment annually in October or at any time events or circumstances indicate that the carrying value may not be fully recoverable, which is based on our accounting policy and GAAP. The changes in the carrying amount of goodwill, by reporting unit, are as follows:

	Phosphates		Potash		Mosaic Fertilizantes			Corporate, Eliminations and Other		Total
Balance as of December 31, 2018	$	588.6	$	1,000.4	$	106.4		$	12.1	$	1,707.5
Foreign currency translation	—		19.5		(0.2		)	—		19.3
Balance as of March 31, 2019	$	588.6	$	1,019.9	$	106.2		$	12.1	$	1,726.8

We are required to perform our next annual goodwill impairment analysis as of October 31, 2019. It is possible that, during the remainder of 2019 or beyond, business conditions could deteriorate from the current state, raw material or product price projections could decline significantly from current estimates, or our common stock price could decline significantly. If assumed net sales and cash flow projections are not achieved or our common stock price significantly declines from current levels, book values of certain operations could exceed their fair values, which may result in goodwill impairment charges in future periods. It is not possible at this time to determine if any such future impairment charge would result or, if it does, whether such charge would be material.

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Marketable Securities Held in Trusts

3 Months Ended

Mar. 31, 2019

Investments, Debt and Equity Securities [Abstract]

Marketable Securities Held in Trusts

Marketable Securities Held in Trusts

In August 2016, Mosaic deposited $630 million into two trust funds (together, the “RCRATrusts”) created to provide additional financial assurance in the form of cash for the estimated costs (“Gypstack Closure Costs”) of closure and long term care of our Florida and Louisiana phosphogypsum management systems (“Gypstacks”), as described further in Note 10 of our Notes to Condensed Consolidated Financial Statements. Our actual Gypstack Closure Costs are generally expected to be paid by us in the normal course of our Phosphate business; however, funds held in each of the RCRA Trusts can be drawn by the applicable governmental authority in the event we cannot perform our closure and long term care obligations. When our estimated Gypstack Closure Costs with respect to the facilities associated with a RCRA Trust are sufficiently lower than the amount on deposit in that RCRA Trust, we have the right to request that the excess funds be released to us. The same is true for the RCRA Trust balance remaining after the completion of our obligations, which will be performed over a period that may not end until three decades or more after a Gypstack has been closed. The investments held by the RCRA Trusts are managed by independent investment managers with discretion to buy, sell, and invest pursuant to the objectives and standards set forth in the related trust agreements. Amounts reserved to be held or held in the RCRA Trusts (including losses or reinvested earnings) are included in other assets on our Condensed Consolidated Balance Sheets.

The RCRA Trusts hold investments, which are restricted from our general use, in marketable debt securities classified as available-for-sale and are carried at fair value. As a result, unrealized gains and losses are included in other comprehensive income until realized, unless it is determined that the carrying value of an investment is impaired on an other-than-temporary basis. There were no other-than-temporary impairment write-downs on available-for-sale securities during the three months ended March 31, 2019.

We review the fair value hierarchy classification on a quarterly basis. Changes in the ability to observe valuation inputs may result in a reclassification of levels for certain securities within the fair value hierarchy. We determine the fair market values of our available-for-sale securities and certain other assets based on the fair value hierarchy described below:

Level 1: Values based on unadjusted quoted prices in active markets that are accessible at the measurement date for identical assets or liabilities.

Level 2: Values based on quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, or model-based valuation techniques for which all significant assumptions are observable in the market.

Level 3: Values generated from model-based techniques that use significant assumptions not observable in the market. These unobservable assumptions reflect our own estimates of assumptions that market participants would use in pricing the asset or liability. Valuation techniques include use of option pricing models, discounted cash flow models and similar techniques.

The estimated fair value of the investments in the RCRA Trusts as of March 31, 2019 and December 31, 2018 are as follows:

	March 31, 2019
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Level 1
Cash and cash equivalents	$	7.0	$	—	$	—		$	7.0
Level 2
Corporate debt securities	180.4		2.2		(1.3		)	181.3
Municipal bonds	183.7		1.9		(1.2		)	184.4
U.S. government bonds	269.8		5.3		—			275.1
Total	$	640.9	$	9.4	$	(2.5	)	$	647.8
	December 31, 2018
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Level 1
Cash and cash equivalents	$	4.0	$	—	$	—		$	4.0
Level 2
Corporate debt securities	180.8		0.3		(4.3		)	176.8
Municipal bonds	186.1		0.5		(3.4		)	183.2
U.S. government bonds	262.1		3.3		—			265.4
Total	$	633.0	$	4.1	$	(7.7	)	$	629.4

The following tables show gross unrealized losses and fair values of the RCRA Trusts' available-for-sale securities that have been in a continuous unrealized loss position deemed to be temporary as of March 31, 2019 and December 31, 2018.

	March 31, 2019					December 31, 2018
	Less than 12 months					Less than 12 months
	Fair Value		Gross Unrealized Losses(a)			Fair Value		Gross Unrealized Losses(a)
Corporate debt securities	$	1.9	$	—		$	43.9	$	(0.6	)
Municipal bonds	1.6		—			12.3		—
U.S. government bonds	—		—			—		—
Total	$	3.5	$	—		$	56.2	$	(0.6	)
	March 31, 2019					December 31, 2018
	Greater than 12 months					Greater than 12 months
	Fair Value		Gross Unrealized Losses(a)			Fair Value		Gross Unrealized Losses(a)
Corporate debt securities	$	86.4	$	(1.3	)	$	103.4	$	(3.7	)
Municipal bonds	81.0		(1.2		)	117.5		(3.4		)
U.S. government bonds	—		—			—		—
Total	$	167.4	$	(2.5	)	$	220.9	$	(7.1	)

______________________________

^(a)  Represents the aggregate of the gross unrealized losses that have been in a continuous unrealized loss position as of March 31, 2019 and December 31, 2018.

The following table summarizes the balance by contractual maturity of the available-for-sale debt securities invested by the RCRA Trusts as of March 31, 2019. Actual maturities may differ from contractual maturities because the issuers of the securities may have the right to prepay obligations before the underlying contracts mature.

	March 31, 2019
Due in one year or less	$	42.7
Due after one year through five years	355.8
Due after five years through ten years	206.4
Due after ten years	35.9
Total debt securities	$	640.8

For the three months ended March 31, 2019, realized gains were $3.1 million and realized losses were $0.8 million. For the three months ended March 31, 2018, realized gains were zero and realized losses were $4.9 million.

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Asset Retirement Obligations

3 Months Ended

Mar. 31, 2019

Asset Retirement Obligation Disclosure [Abstract]

Asset Retirement Obligation Disclosure

Asset Retirement Obligations

We recognize our estimated asset retirement obligations (“AROs”) in the period in which we have an existing legal obligation associated with the retirement of a tangible long-lived asset, and the amount of the liability can be reasonably estimated. The ARO is recognized at fair value when the liability is incurred with a corresponding increase in the carrying amount of the related long-lived asset. We depreciate the tangible asset over its estimated useful life. The liability is adjusted in subsequent periods through accretion expense, which represents the increase in the present value of the liability due to the passage of time. Such depreciation and accretion expenses are included in cost of goods sold for operating facilities and other operating expense for indefinitely closed facilities.

Our legal obligations related to asset retirement require us to: (i) reclaim lands disturbed by mining as a condition to receive permits to mine phosphate ore reserves; (ii) treat low pH process water in Gypstacks to neutralize acidity; (iii) close and monitor Gypstacks at our Florida and Louisiana facilities at the end of their useful lives; (iv) remediate certain other conditional obligations; (v) remove all surface structures and equipment, plug and abandon mine shafts, contour and revegetate, as necessary, and monitor for five years after closing our Carlsbad, New Mexico facility; (vi) decommission facilities, manage tailings and execute site reclamation at our Saskatchewan potash mines at the end of their useful lives; (vii) de-commission mines in Brazil and Peru acquired as part of the Acquisition and (viii) decommission plant sites and close Gypstacks in Brazil also as part of the Acquisition. The estimated liability for these legal obligations is based on the estimated cost to satisfy the above obligations, which is discounted using a credit-adjusted risk-free rate.

A reconciliation of our AROs is as follows:

(in millions)	March 31, 2019			December 31, 2018
AROs, beginning of period	$	1,160.1		$	859.3
Liabilities acquired in the Acquisition	—			258.9
Liabilities incurred	4.0			27.8
Liabilities settled	(22.2		)	(69.6		)
Accretion expense	15.3			48.0
Revisions in estimated cash flows	1.5			78.2
Foreign currency translation	1.3			(42.5		)
AROs, end of period	1,160.0			1,160.1
Less current portion	140.0			136.3
	$	1,020.0		$	1,023.8

North America Gypstack Closure Costs

A majority of our ARO relates to Gypstack Closure Costs in Florida and Louisiana. For financial reporting purposes, we recognize our estimated Gypstack Closure Costs at their present value. This present value determined for financial reporting purposes is reflected on our Consolidated Balance Sheets in accrued liabilities and other noncurrent liabilities.

As discussed below, we have arrangements to provide financial assurance for the estimated Gypstack Closure Costs associated with our facilities in Florida and Louisiana.

EPA RCRA Initiative. On September 30, 2015, we and our subsidiary, Mosaic Fertilizer, LLC (“Mosaic Fertilizer”), reached agreements with the U.S. Environmental Protection Agency (“EPA”), the U.S. Department of Justice (“DOJ”), the Florida Department of Environmental Protection (“FDEP”) and the Louisiana Department of Environmental Quality (“LDEQ”) on the terms of two consent decrees (collectively, the “2015 Consent Decrees”) to resolve claims relating to our management of certain waste materials onsite at our Riverview, New Wales, Mulberry, Green Bay, South Pierce and Bartow fertilizer manufacturing facilities in Florida and our Faustina and Uncle Sam facilities in Louisiana. This followed a 2003 announcement by the EPA Office of Enforcement and Compliance Assurance that it would be targeting facilities in mineral processing industries, including phosphoric acid producers, for a thorough review under the U.S. Resource Conservation and Recovery Act (“RCRA”) and related state laws. As discussed below, a separate consent decree was previously entered into with EPA and the FDEP with respect to RCRA compliance at the Plant City, Florida phosphate concentrates facility (the “Plant City Facility”) that we acquired as part of our acquisition (the “CF Phosphate Assets Acquisition”) of the Florida phosphate assets and assumption of certain related liabilities of CF Industries, Inc. (“CF”).

The remaining monetary obligations under the 2015 Consent Decrees include:

• Modification of certain operating practices and undertaking certain capital improvement projects over a period of several years that are expected to result in capital expenditures likely to exceed $200 million in the aggregate.

• Provision of additional financial assurance for the estimated Gypstack Closure Costs for Gypstacks at the covered facilities. The RCRA Trusts are discussed in Note 9 to our Condensed Consolidated Financial Statements. In addition, we have agreed to guarantee the difference between the amounts held in each RCRA Trust (including any earnings) and the estimated closure and long-term care costs.

As of December 31, 2018, the undiscounted amount of our Gypstack Closure CostsARO associated with the facilities covered by the 2015 Consent Decrees, determined using the assumptions used for financial reporting purposes, was approximately $1.5 billion, and the present value of our Gypstack Closure Costs ARO reflected in our Consolidated Balance Sheet for those facilities was approximately $457.1 million.

Plant City and Bonnie Facilities. As part of the CF Phosphate Assets Acquisition, we assumed certain AROs related to Gypstack Closure Costs at both the Plant City Facility and a closed Florida phosphate concentrates facility in Bartow, Florida (the “Bonnie Facility”) that we acquired. Associated with these assets are two related financial assurance arrangements for which we became responsible and that provided sources of funds for the estimated Gypstack Closure Costs for these facilities, pursuant to federal or state law: the government entities can draw against such amounts in the event we cannot perform such closure activities. One was initially a trust (the “Plant City Trust”) established to meet the requirements under a consent decree with the EPA and the FDEP with respect to RCRA compliance at Plant City that also satisfied Florida financial assurance requirements at that site. Beginning in September 2016, as a substitute for the financial assurance provided through the Plant City Trust, we have provided financial assurance for Plant City in the form of a surety bond (the “Plant City Bond”). The amount of the Plant City Bond is $233.7 million, which reflects our closure cost estimates as of December 31, 2018.  The other was also a trust fund (the “Bonnie Facility Trust”) established to meet the requirements under Florida financial assurance regulations that apply to the Bonnie Facility. In July 2018, we received $21.0 million from the Bonnie Facility Trust by substituting for the trust fund a financial test mechanism (“Bonnie Financial Test”) supported by a corporate guarantee as allowed by state regulations. Both financial assurance funding obligations require estimates of future expenditures that could be impacted by refinements in scope, technological developments, new information, cost inflation, changes in regulations, discount rates and the timing of activities. Under our current approach to satisfying applicable requirements, additional financial assurance would be required in the future if increases in cost estimates exceed the face amount of the Plant City Bond or the amount supported by the Bonnie Financial Test.

At March 31, 2019 and December 31, 2018, the aggregate amounts of AROs associated with the Plant City Facility and Bonnie Facility gypstack closure costs included in our Condensed Consolidated Balance Sheets were $110.1 million and $109.2 million, respectively. The aggregate amount represented by the Plant City Bond exceeds the aggregate amount of ARO associated with that Facility. This is because the amount of financial assurance we are required to provide represents the aggregate undiscounted estimated amount to be paid by us in the normal course of our Phosphates business over a period that may not end until three decades or more after the Gypstack has been closed, whereas the ARO included in our Condensed Consolidated Balance Sheet reflects the discounted present value of those estimated amounts.

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Contingencies

3 Months Ended

Mar. 31, 2019

Commitments and Contingencies Disclosure [Abstract]

Contingencies

Contingencies

We have described below judicial and administrative proceedings to which we are subject.

We have contingent environmental liabilities that arise principally from three sources: (i) facilities currently or formerly owned by our subsidiaries or their predecessors; (ii) facilities adjacent to currently or formerly owned facilities; and (iii) third-party Superfund or state equivalent sites. At facilities currently or formerly owned by our subsidiaries or their predecessors, the historical use and handling of regulated chemical substances, crop and animal nutrients and additives and by-product or process tailings have resulted in soil, surface water and/or groundwater contamination. Spills or other releases of regulated substances, subsidence from mining operations and other incidents arising out of operations, including accidents, have occurred previously at these facilities, and potentially could occur in the future, possibly requiring us to undertake or fund cleanup or result in monetary damage awards, fines, penalties, other liabilities, injunctions or other court or administrative rulings. In some instances, pursuant to consent orders or agreements with governmental agencies, we are undertaking certain remedial actions or investigations to determine whether remedial action may be required to address contamination. At other locations, we have entered into consent orders or agreements with appropriate governmental agencies to perform required remedial activities that will address identified site conditions. Taking into consideration established accruals of approximately $54.8 million and $58.6 million as of March 31, 2019 and December 31, 2018, respectively, expenditures for these known conditions currently are not expected, individually or in the aggregate, to have a material effect on our business or financial condition. However, material expenditures could be required in the future to remediate the contamination at known sites or at other current or former sites or as a result of other environmental, health and safety matters. Below is a discussion of the more significant environmental matters.

New Wales Water Loss Incident. In August 2016, a sinkhole developed under one of the two cells of the active Gypstack at our New Wales facility in Polk County, Florida, resulting in process water from the stack draining into the sinkhole. The incident was reported to the FDEP and EPA. In October 2016, our subsidiary, Mosaic Fertilizer, entered into a consent order (the “Order”) with the FDEP relating to the incident. Under the Order, Mosaic Fertilizer agreed to, among other things: implement a remediation plan to close the sinkhole; perform additional monitoring of the groundwater quality and act to assess and remediate in the event monitored off-site water does not comply with applicable standards as a result of the incident; evaluate the risk of potential future sinkhole formation at the New Wales facility and at Mosaic Fertilizer’s active Gypstack operations at the Bartow, Riverview and Plant City facilities with recommendations to address any identified issues; and provide financial assurance of no less than $40.0 million, which we have done without the need for any expenditure of corporate funds through satisfaction of a financial strength test and Mosaic parent guarantee. The Order did not require payment of civil penalties relating to the incident. 

As of March 31, 2019, the sinkhole repairs were substantially complete, with $79.7 million spent in remediation and sinkhole-related costs through this date. We estimate remaining costs will be approximately $1.3 million. Additional expenditures could be required in the future for additional remediation or other measures in connection with the sinkhole including if, for example, FDEP or EPA were to request additional measures to address risks presented by the Gypstack. These expenditures could be material.  In addition, we are unable to predict at this time what, if any, impact the New Wales water loss incident will have on future Florida permitting efforts.

EPA RCRA Initiative.

We have certain financial assurance and other obligations under consent decrees and a separate financial assurance arrangement relating to our facilities in Florida and Louisiana. These obligations are discussed in Note 10 of our Notes to Condensed Consolidated Financial Statements.

EPA EPCRA Initiative. In July 2008, DOJ sent a letter to major U.S. phosphoric acid manufacturers, including us, stating that EPA’s ongoing investigation indicates apparent violations of Section 313 of the Emergency Planning and Community Right-to-Know Act (“EPCRA”) at their phosphoric acid manufacturing facilities. Section 313 of EPCRA requires annual reports to be submitted with respect to the use or presence of certain toxic chemicals. DOJ and EPA also stated that they believe that a number of these facilities have violated Section 304 of EPCRA and Section 103 of the Comprehensive Environmental Response, Compensation and Liability Act (“CERCLA”) by failing to provide required notifications relating to the release of hydrogen fluoride from the facilities. The letter did not identify any specific violations by us or assert a demand for penalties against us. We cannot predict at this time whether EPA and DOJ will initiate an enforcement action over this matter, what its scope would be, or what the range of outcomes of such a potential enforcement action might be.

Florida Sulfuric Acid Plants. On April 8, 2010, EPA Region 4 submitted an administrative subpoena to us under Section 114 of the Federal Clean Air Act (the “CAA”) regarding compliance of our Florida sulfuric acid plants with the "New Source Review" requirements of the CAA. The request received by Mosaic appears to be part of a broader EPA national enforcement initiative focusing on sulfuric acid plants.  On June 16, 2010, EPA issued a notice of violation to CF (the "CF NOV") with respect to "New Source Review" compliance at the Plant City Facility's sulfuric acid plants and the allegations in the CF NOV were not resolved before our 2014 acquisition of the Plant City Facility.  CF has agreed to indemnify us with respect to any penalty EPA may assess as a result of the allegations in the CF NOV. We are negotiating the terms of a settlement with EPA that would resolve both the violations alleged in the CF NOV, and violations which EPA may contend, but have not asserted, exist at the sulfuric acid plants at our other facilities in Florida.  Based on the current status of the negotiations, we expect that our commitments will include an agreement to reduce our sulfur dioxide emissions over the next five years to comply with a sulfur dioxide ambient air quality standard enacted by EPA in 2010. We do not expect that any related penalties assessed against us as part of a potential settlement would be material. In the event we are unable to finalize agreement on the terms of the settlement, we cannot predict at this time whether EPA and DOJ will initiate an enforcement action with respect to “New Source Review” compliance at our Florida sulfuric acid plants other than the Plant City Facility or what its scope would be, or what the range of outcomes might be with respect to such a potential enforcement action or with respect to the CF NOV.

Uncle Sam Gypstack. In January 2019, we observed lateral movement of the north slope of our active phosphogypsum stack at the Uncle Sam facility in Louisiana.  The observation was reported to the Louisiana Department of Environmental Quality and the U.S. Environmental Protection Agency.  We continue to provide updates to the agencies on the movement, which has slowed following actions we have taken, which include reducing process water volume stored atop the stack to reduce the active load causing the movement and constructing a stability berm at the base of the slope to increase resistance.  Both steps have improved slope stability.  We are planning others that will further increase that stability.  There has been no loss of containment resulting from the movement observed, and none is expected. Although this could have a material effect on our future operations, at this time, we cannot predict the prospective impact on our results of operations.

Other Environmental Matters. Superfund and equivalent state statutes impose liability without regard to fault or to the legality of a party’s conduct on certain categories of persons who are considered to have contributed to the release of "hazardous substances" into the environment. Under Superfund, or its various state analogues, one party may, under certain circumstances, be required to bear more than its proportionate share of cleanup costs at a site where it has liability if payments cannot be obtained from other responsible parties. Currently, certain of our subsidiaries are involved or concluding involvement at several Superfund or equivalent state sites. Our remedial liability from these sites, alone or in the aggregate, currently is not expected to have a material effect on our business or financial condition. As more information is obtained regarding these sites and the potentially responsible parties involved, this expectation could change.

We believe that, pursuant to several indemnification agreements, our subsidiaries are entitled to at least partial, and in many instances complete, indemnification for the costs that may be expended by us or our subsidiaries to remedy environmental issues at certain facilities. These agreements address issues that resulted from activities occurring prior to our acquisition of facilities or businesses from parties including, but not limited to, ARCO (BP); Beatrice Fund for Environmental Liabilities; Conoco; Conserv; Estech, Inc.; Kaiser Aluminum & Chemical Corporation; Kerr-McGee Inc.; PPG Industries, Inc.; The Williams Companies; CF; and certain other private parties. Our subsidiaries have already received and anticipate receiving amounts pursuant to the indemnification agreements for certain of their expenses incurred to date as well as future anticipated expenditures. We record potential indemnifications as an offset to the established accruals when they are realizable or realized.

Phosphate Mine Permitting in Florida

Denial of the permits sought at any of our mines, issuance of the permits with cost-prohibitive conditions, substantial delays in issuing the permits, legal actions that prevent us from relying on permits or revocation of permits may create challenges for us to mine the phosphate rock required to operate our Florida and Louisiana phosphate plants at desired levels or increase our costs in the future.

The South Pasture Extension. In November 2016, the Army Corps of Engineers (the “Corps”) issued a federal wetlands permit under the Clean Water Act for mining an extension of our South Pasture phosphate rock mine in central Florida. On December 20, 2016, the Center for Biological Diversity, ManaSota-88, People for Protecting Peace River and Suncoast Waterkeeper issued a 60-day notice of intent to sue the Corps and the U.S. Fish and Wildlife Service (the “Service”) under the federal Endangered Species Act regarding actions taken by the Corps and the Service in connection with the issuance of the permit. On March 15, 2017, the same group filed a complaint against the Corps, the Service and the U.S. Department of the Interior in the U.S. District Court for the Middle District of Florida, Tampa Division. The complaint alleges that various actions taken by the Corps and the Service in connection with the issuance of the permit, including in connection with the Service's biological opinion and the Corps' reliance on that biological opinion, violated substantive and procedural requirements of the federal Clean Water Act (“CWA”), the National Environmental Policy Act (“NEPA”) and the Endangered Species Act (the “ESA”), and were arbitrary, capricious, an abuse of discretion, and otherwise not in accordance with law, in violation of the Administrative Procedure Act (the “APA”). As to the Corps, plaintiffs allege in their complaint, among other things, that the Corps failed to conduct an adequate analysis under the CWA of alternatives, failed to fully consider the effects of the South Pasture extension mine, failed to take adequate steps to minimize potential adverse impacts and violated the ESA by relying on the Service's biological opinion to determine that its permitting decision is not likely to adversely affect certain endangered or rare species. As to the Service, plaintiffs allege in their complaint, among other things, that the Service's biological opinion fails to meet statutory requirements, that the Service failed to properly consider impacts and adequately assess the cumulative effects on certain species, and that the Service violated the ESA in finding that the South Pasture extension mine is not likely to adversely affect certain endangered or rare species. The plaintiffs are seeking relief including (i) declarations that the Corps' decision to issue the permit violated the CWA, NEPA, the ESA and the APA and that its NEPA review violated the law; (ii) declarations that the Service's biological opinion violated applicable law and that the Corps' reliance on the biological opinion violated the ESA; (iii) orders that the Corps rescind the permit, that the Service withdraw its biological opinion and related analyses and prepare a biological opinion that complies with the ESA; and (iv) that the Corps be preliminarily and permanently enjoined from authorizing any further action under the permit until it complies fully with the requirements of the CWA, NEPA, the ESA and the APA. On March 31, 2017, Mosaic's motion for intervention was granted with no restrictions. Plaintiffs filed an amended complaint on June 2, 2017, without any new substantive allegations, and on June 28, 2017, Mosaic (as intervenor) and separately, the defendants, filed answers to the amended complaint. On June 30, 2017, the plaintiffs filed a motion for summary judgment, arguing that the permit should not have been issued. On July 15, 2017, Mosaic filed a response in opposition to the plaintiffs' motion, and on July 28, 2017, Mosaic filed its own motion for summary judgment. On December 14, 2017, the Tampa District Court granted Mosaic’s motion for summary judgment in favor of Mosaic and the government defendants, and denied the plaintiffs’ motion to supplement the administrative record. On February 12, 2018, the plaintiffs filed an appeal with the U.S. Court of Appeals for the Eleventh Circuit of the Tampa District Court decision. A mandatory mediation occurred on March 19, 2018, but no settlement was reached. Briefing by all parties was completed on July 13, 2018. Oral arguments are scheduled for May 22, 2019.

We believe the plaintiffs' claims in this case are without merit and we intend to vigorously defend the Corps' issuance of the South Pasture extension permit and the Service's biological opinion. However, if the plaintiffs were to prevail in this case, we would be prohibited from continuing to mine the South Pasture extension, and obtaining new or modified permits could significantly delay our resumption of mining and could result in more onerous mining conditions. This could have a material effect on our future results of operations, reduce future cash flows from operations, and in the longer term, conceivably adversely affect our liquidity and capital resources.

Brazil Legal Contingencies

Our Brazilian subsidiaries are engaged in a number of judicial and administrative proceedings regarding labor, environmental, mining and civil claims that allege aggregate damages and/or fines of approximately $1.1 billion. We estimate that our probable aggregate loss with respect to these claims is approximately $46.4 million, which amount is included in our accrued liabilities in our Condensed Consolidated Balance Sheet at March 31, 2019.

Approximately $757.0 million of the maximum potential loss relates to labor claims, such as in-house and third party employees’ judicial proceedings alleging the right to receive overtime pay, additional payment due to work in hazardous conditions, risk premium, profit sharing, additional payment due to night work, salary parity and wage differences. We estimate that our probable aggregate loss regarding these claims is approximately $37.0 million, which is included in accrued liabilities in our Condensed Consolidated Balance Sheet at March 31, 2019. Based on Brazil legislation and the current status of similar labor cases involving unrelated companies, we believe we have recorded adequate loss contingency reserves sufficient to cover our estimate of probable losses. If the status of similar cases involving unrelated companies were to adversely change in the future, our maximum potential exposure could increase and additional accruals could be required.

Approximately $2.7 million of the above mentioned $37.0 million reserves relates to a purported class action filed by one of the unions claiming additional payment for occupational hazard due to the alleged exposure of workers at the Company’s potash mine at Rosário do Catete, Sergipe, to explosive gases that could be found during the mining process. The matter currently is before the Brazilian Labor Supreme Court.

The environmental and mining judicial and administrative proceedings claims allege aggregate damages and/or fines of approximately $164.1 million. We estimate that our probable aggregate loss regarding these claims is approximately $5.6 million, which has been accrued at March 31, 2019. The majority of the reserves involves a claim filed in 2012 by the State Public Prosecutor Office, alleging that the Company delayed construction of an effluent treatment plant, thereby subjecting it to a fine under the commitment agreement.

Our Brazilian subsidiaries also have certain other civil contingent liabilities with respect to judicial, administrative and arbitration proceedings and claims related to contract disputes, pension plan matters, real estate disputes and other civil matters arising in the ordinary course of business. These claims allege aggregate damages in excess of $172.9 million. We estimate that the probable aggregate loss with respect to these matters is approximately $3.7 million.

Uberaba Judicial Settlement

In 2008, the Federal Public Prosecutor filed a public civil action requesting the Company to adopt several measures to mitigate soil and water contamination related to the Gypstack at our Uberaba facility, including compensation for the alleged social and environmental damages. In 2014, our predecessor subsidiary in Brazil entered into a judicial settlement with the Federal Public Prosecutor, the State of Minas Gerais public prosecutor and the federal environmental agency. Under this agreement, we agreed to implement remediation measures such as: constructing a liner under the Gypstack water ponds and lagoons, and monitoring the groundwater and soil quality. We also agreed to create a private reserve of natural heritage and to pay compensation in the amount of approximately $0.3 million, which was paid in July 2018. We are currently acting in compliance with our obligations under the judicial settlement and expect them to be completed by December 31, 2023.

Uberaba EHS Class Action

In 2013, the State of Minas Gerais public prosecutor filed a class action claiming that our predecessor company in Brazil did not comply with labor safety rules and working hour laws. This claim was based on an inspection conducted by the Labor and Employment Ministry in 2010, following which we were fined for not complying with several labor regulations. We filed our defense, claiming that we complied with these labor regulations and that the assessment carried out by the inspectors in 2010 was abusive. Following the initial hearing, the court ordered an examination to determine whether there has been any non-compliance with labor regulations. The examination is currently pending. The amount involved in the proceeding is $31.8 million.

Brazil Tax Contingencies

Our Brazilian subsidiaries are engaged in a number of judicial and administrative proceedings relating to various non-income tax matters. We estimate that our maximum potential liability with respect to these matters is approximately $481.0 million, of which $233.0 million is subject to an indemnification agreement entered into with Vale S.A in connection with the Acquisition.

Approximately $301.0 million of the maximum potential liability relates to a Brazilian federal value-added tax, PIS and Coffins, and tax credit cases, while the majority of the remaining amount relates to various other non-income tax cases. The maximum potential liability can increase with new audits. Based on Brazil legislation and the current status of similar tax cases involving unrelated taxpayers, we believe we have recorded adequate loss contingency reserves sufficient to cover our estimate of probable losses; these reserves are immaterial in amount. If the status of similar tax cases involving unrelated taxpayers changes in the future, additional accruals could be required.

Other Claims

We also have certain other contingent liabilities with respect to judicial, administrative and arbitration proceedings and claims of third parties, including tax matters, arising in the ordinary course of business. We do not believe that any of these contingent liabilities will have a material adverse impact on our business or financial condition, results of operations, and cash flows.

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Accounting for Derivative Instruments and Hedging Activities

3 Months Ended

Mar. 31, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Accounting for Derivative Instruments and Hedging Activities

Accounting for Derivative Instruments and Hedging Activities

We periodically enter into derivatives to mitigate our exposure to foreign currency risks, interest rate movements and the effects of changing commodity prices. We record all derivatives on the Condensed Consolidated Balance Sheets at fair value. The fair value of these instruments is determined by using quoted market prices, third party comparables, or internal estimates. We net our derivative asset and liability positions when we have a master netting arrangement in place. Changes in the fair value of the foreign currency, commodity and freight derivatives are immediately recognized in earnings. As of March 31, 2019 and December 31, 2018, the gross asset position of our derivative instruments was $14.6 million and $13.4 million, respectively, and the gross liability position of our liability instruments was $37.3 million and $89.4 million, respectively.

 We do not apply hedge accounting treatments to our foreign currency exchange contracts, commodities contracts, or freight contracts. Unrealized gains and (losses) on foreign currency exchange contracts used to hedge cash flows related to the production of our products are included in cost of goods sold in the Condensed Consolidated Statements of Earnings. Unrealized gains and (losses) on commodities contracts and certain forward freight agreements are also recorded in cost of goods sold in the Condensed Consolidated Statements of Earnings. Unrealized gains or (losses) on foreign currency exchange contracts used to hedge cash flows that are not related to the production of our products are included in the foreign currency transaction gain/(loss) caption in the Condensed Consolidated Statements of Earnings.

We apply fair value hedge accounting treatment to our fixed-to-floating interest rate contracts. Under these arrangements, we agree to exchange, at specified intervals, the difference between fixed and floating interest amounts calculated by reference to an agreed-upon notional principal amount. The mark-to-market of these fair value hedges is recorded as gains or losses in interest expense. These fair value hedges are considered to be highly effective and, thus, as of March 31, 2019, the impact on earnings due to hedge ineffectiveness was immaterial. Consistent with our intent to have floating rate debt as a portion of our outstanding debt, in December 2016 and the first quarter of 2017, we entered into four and five, respectively, fixed-to-floating interest rate swap agreements, with a total notional amount of $310.0 million and $275.0 million, respectively, related to our Senior Notes due 2023.

As of March 31, 2019 and December 31, 2018, the following is the total absolute notional volume associated with our outstanding derivative instruments:

(in millions of Units)			March 31, 2019	December 31, 2018
Derivative Instrument	Derivative Category	Unit of Measure
Foreign currency derivatives	Foreign currency	US Dollars	1,626.6	2,091.7
Interest rate derivatives	Interest rate	US Dollars	585.0	585.0
Natural gas derivatives	Commodity	MMbtu	50.7	52.2

Credit-Risk-Related Contingent Features

Certain of our derivative instruments contain provisions that are governed by International Swap and Derivatives Association agreements with the counterparties. These agreements contain provisions that allow us to settle for the net amount between payments and receipts, and also state that if our debt were to be rated below investment grade, certain counterparties could request full collateralization on derivative instruments in net liability positions. The aggregate fair value of all derivative instruments with credit-risk-related contingent features that were in a liability position as of March 31, 2019 and December 31, 2018, was $14.9 million and $37.9 million, respectively. We have no cash collateral posted in association with these contracts. If the credit-risk-related contingent features underlying these agreements were triggered on March 31, 2019, we would have been required to post an additional $13.1 million of collateral assets, which are either cash or U.S. Treasury instruments, to the counterparties.

Counterparty Credit Risk

We enter into foreign exchange, certain commodity and interest rate derivatives, primarily with a diversified group of highly rated counterparties. We continually monitor our positions and the credit ratings of the counterparties involved and limit the amount of credit exposure to any one party. While we may be exposed to potential losses due to the credit risk of non-performance by these counterparties, material losses are not anticipated. We closely monitor the credit risk associated with our counterparties and customers and to date have not experienced material losses.

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Fair Value Measurements

3 Months Ended

Mar. 31, 2019

Fair Value Disclosures [Abstract]

Fair Value Measurements

Fair Value Measurements

Following is a summary of the valuation techniques for assets and liabilities recorded in our Condensed Consolidated Balance Sheets at fair value on a recurring basis:

Foreign Currency Derivatives - The foreign currency derivative instruments that we currently use are forward contracts and zero-cost collars, which typically expire within eighteen months. Most of the valuations are adjusted by a forward yield curve or interest rates. In such cases, these derivative contracts are classified within Level 2. Some valuations are based on exchange-quoted prices, which are classified as Level 1. Changes in the fair market values of these contracts are recognized in the Condensed Consolidated Financial Statements as a component of cost of goods sold in our Corporate, Eliminations and Other segment, or foreign currency transaction (gain) loss. As of March 31, 2019 and December 31, 2018, the gross asset position of our foreign currency derivative instruments was $13.1 million and the gross liability position of our foreign currency derivative instruments was $24.5 million and $62.2 million, respectively.

Commodity Derivatives - The commodity contracts primarily relate to natural gas. The commodity derivative instruments that we currently use are forward purchase contracts, swaps, and three-way collars. The natural gas contracts settle using NYMEX futures or AECO price indexes, which represent fair value at any given time. The contracts’ maturities and settlements are scheduled for future months and settlements are scheduled to coincide with anticipated gas purchases during those future periods. Quoted market prices from NYMEX and AECO are used to determine the fair value of these instruments. These market prices are adjusted by a forward yield curve and are classified within Level 2. Changes in the fair market values of these contracts are recognized in the Condensed Consolidated Financial Statements as a component of cost of goods sold in our Corporate, Eliminations and Other segment. As of March 31, 2019 and December 31, 2018, the gross asset position of our commodity derivative instruments was $1.4 million and $0.3 million, respectively, and the gross liability position of our commodity instruments was $10.8 million and $17.7 million, respectively.

Interest Rate Derivatives - We manage interest expense through interest rate contracts to convert a portion of our fixed-rate debt into floating-rate debt. We also enter into interest rate swap agreements to hedge our exposure to changes in future interest rates related to anticipated debt issuances. Valuations are based on external pricing sources and are classified as Level 2. Changes in the fair market values of these contracts are recognized in the Condensed Consolidated Financial Statements as a component of interest expense. As of March 31, 2019 and December 31, 2018, the gross asset position of our interest rate swap instruments was $0.1 million and zero, respectively, and the gross liability position of our interest rate swap instruments was $2.0 million and $9.5 million, respectively.

Financial Instruments

The carrying amounts and estimated fair values of our financial instruments are as follows:

	March 31, 2019				December 31, 2018
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Cash and cash equivalents	$	384.6	$	384.6	$	847.7	$	847.7
Accounts Receivables	792.0		792.0		838.5		838.5
Accounts payable	781.6		781.6		780.9		780.9
Structured accounts payable arrangements	466.9		466.9		572.8		572.8
Short-term debt (a)	167.5		167.5		11.5		11.5
Long-term debt, including current portion	4,573.8		4,724.0		4,517.5		4,554.6

^(a) Includes approximately $38.0 million related to a collateralized subsidy payment by the Government of India which was repaid in April 2019.

For cash and cash equivalents, accounts receivables, accounts payable, structured accounts payable arrangements, and short-term debt, the carrying amount approximates fair value because of the short-term maturity of those instruments. The fair value of long-term debt, including the current portion, is estimated using quoted market prices for the publicly registered notes and debentures, classified as Level 1 and Level 2, respectively, within the fair value hierarchy, depending on the market liquidity of the debt.

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Related Party Transactions

3 Months Ended

Mar. 31, 2019

Related Party Transactions [Abstract]

Related Party Transactions

Related Party Transactions

We enter into transactions and agreements with certain of our non-consolidated companies and other related parties from time to time. As of March 31, 2019 and December 31, 2018, the net amount due (to) from our non-consolidated companies totaled $(182.9) million and $95.2 million, respectively. These amounts include a long-term indemnification asset of $30.3 million from Vale S.A. for reimbursement of pension plan obligations.

The Condensed Consolidated Statements of Earnings included the following transactions with our non-consolidated companies:

	Three months ended
	March 31,
	2019		2018
Transactions with non-consolidated companies included in net sales	$	262.5	$	114.1
Transactions with non-consolidated companies included in cost of goods sold	251.0		203.7

As part of the MWSPC joint venture, we market approximately 25% of the MWSPC production, for which approximately $2.7 million and $1.0 million is included in revenue for the three months ended March 31, 2019 and March 31, 2018, respectively.

In November 2015, we agreed to provide funds to finance the purchase and construction of two articulated tug and barge units, intended to transport anhydrous ammonia for our operations, through a bridge loan agreement with Gulf Marine Solutions, LLC (“GMS”).  GMS is a wholly owned subsidiary of Gulf Sulphur Services Ltd., LLLP (“Gulf Sulphur Services”), an entity in which we and a joint venture partner, Savage Companies (“Savage”), each indirectly own a 50% equity interest and for which a subsidiary of Savage provides operating and management services. GMS provided these funds through draws on the Mosaic bridge loan, and through additional loans from Gulf Sulphur Services.  We determined, beginning in 2015 that we are the primary beneficiary of GMS, a variable interest entity and, at that time, we consolidated GMS’s operations in our Phosphates segment.  

On October 24, 2017, a lease financing transaction was completed with respect to the completed tug and barge unit, and, following the application of proceeds from the transaction, all outstanding loans made by Gulf Sulphur Services to GMS, together with accrued interest, were repaid, and the bridge loans related to the first unit’s construction were repaid. At March 31, 2019 and December 31, 2018, $81.1 million and $75.3 million in bridge loans, respectively, which are eliminated in consolidation, were outstanding, relating to the cancelled second barge and the remaining tug. Reserves against the bridge loan of approximately $54.2 million were recorded through December 31, 2018, and no additional charges were recorded in 2018 or 2019.  The construction of the remaining tug, funded by the bridge loan advances in excess of the reserves, is recorded within construction in-progress within our consolidated balance sheet. Several subsidiaries of Savage operate vessels utilized by Mosaic under time charter arrangements, including the ammonia tug and barge unit.

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Business Segments

3 Months Ended

Mar. 31, 2019

Segment Reporting [Abstract]

Business Segments

Business Segments

The reportable segments are determined by management based upon factors such as products and services, production processes, technologies, market dynamics, and for which segment financial information is available for our chief operating decision maker.

For a description of our business segments, see Note 1 to the Condensed Consolidated Financial Statements. We evaluate performance based on the operating earnings of the respective business segments, which includes certain allocations of corporate selling, general and administrative expenses. The segment results may not represent the actual results that would be expected if they were independent, stand-alone businesses. Intersegment eliminations, including profit on intersegment sales, mark-to-market gains/losses on derivatives, debt expenses, Streamsong Resort^® results of operations and the results of the China and India distribution businesses are included within Corporate, Eliminations and Other. As of January 1, 2019, certain selling, general and administrative costs that are not controllable by the business segments are no longer allocated to segments and are included within Corporate, Eliminations and Other. Our operating results for the quarter ended March 31, 2018, have been recast to reflect this change.

Segment information for the three months ended March 31, 2019 and 2018 was as follows:

	Phosphates		Potash		Mosaic Fertilizantes		Corporate, Eliminations and Other (a)			Total
Three months ended March 31, 2019
Net sales to external customers	$	598.1	$	497.3	$	698.0	$	106.3		$	1,899.7
Intersegment net sales	207.9		6.2		—		(214.1		)	—
Net sales	806.0		503.5		698.0		(107.8		)	1,899.7
Gross margin	54.8		185.4		52.4		16.9			309.5
Canadian resource taxes	—		46.9		—		—			46.9
Gross margin (excluding Canadian resource taxes)	54.8		232.3		52.4		16.9			356.4
Operating earnings (loss)	43.5		175.8		27.3		(44.5		)	202.1
Capital expenditures	120.4		140.4		51.8		1.3			313.9
Depreciation, depletion and amortization expense	103.5		78.3		31.5		4.8			218.1
Three months ended March 31, 2018
Net sales to external customers	$	764.2	$	401.5	$	665.3	$	102.7		$	1,933.7
Intersegment net sales	101.7		2.2		—		(103.9		)	—
Net sales	865.9		403.7		665.3		(1.2		)	1,933.7
Gross margin	96.5		102.4		59.2		(16.0		)	242.1
Canadian resource taxes	—		26.3		—		—			26.3
Gross margin (excluding Canadian resource taxes)	96.5		128.7		59.2		(16.0		)	268.4
Operating earnings (loss)	77.8		91.6		12.8		(101.5		)	80.7
Capital expenditures	100.2		103.8		17.9		1.4			223.3
Depreciation, depletion and amortization expense	99.3		75.6		37.2		5.4			217.5
Total Assets
As of March 31, 2019	$	8,424.4	$	7,439.0	$	4,070.4	$	511.5		$	20,445.3
As of December 31, 2018	7,877.3		7,763.1		3,952.4		526.4			20,119.2

______________________________

^(a)  The “Corporate, Eliminations and Other” category includes the results of our ancillary distribution operations in India and China.  For the three months ended March 31, 2019, distribution operations in India and China had revenue of $93.2 million and gross margin of $9.0 million. For the three months ended March 31, 2018, distribution operations in India and China had revenue of $89.4 million and gross margin of $10.1 million.

Financial information relating to our operations by geographic area is as follows:

	Three Months Ended March 31,
(in millions)	2019		2018
Net sales(a):
Brazil	$	678.0	$	688.6
Canpotex(b)	257.6		110.6
Canada	136.1		126.1
China	65.1		62.9
Australia	56.0		83.9
Mexico	44.4		59.0
India	27.8		32.3
Argentina	25.8		6.8
Paraguay	21.4		14.5
Peru	20.1		11.5
Columbia	16.5		26.4
Chile	10.9		15.7
Dominican Republic	7.5		2.5
Thailand	5.1		8.0
Other	17.5		53.9
Total international countries	1,389.8		1,302.7
United States	509.9		631.0
Consolidated	$	1,899.7	$	1,933.7

______________________________

^(a)  Revenues are attributed to countries based on location of customer.

^(b)  Canpotex is the export association of the Saskatchewan potash producers.

Net sales by product type are as follows:

	Three Months Ended March 31,
(in millions)	2019		2018
Sales by product type:
Phosphate Crop Nutrients	$	524.6	$	636.9
Potash Crop Nutrients	572.1		463.3
Crop Nutrient Blends	293.4		268.4
Specialty Products(a)	319.5		374.5
Phosphate Rock	7.0		21.8
Other(b)	183.1		168.8
	$	1,899.7	$	1,933.7

____________________________

^(a)  Includes sales of MicroEssentials^®, K-Mag, Aspire and animal feed ingredients.

^(b)  Includes sales of industrial potash, nitrogen and other products.

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Summary of Significant Accounting Policies (Policies)

3 Months Ended

Mar. 31, 2019

Accounting Policies [Abstract]

Basis of Consolidation

Statement Presentation and Basis of Consolidation

The accompanying unaudited Condensed Consolidated Financial Statements of Mosaic have been prepared on the accrual basis of accounting and in accordance with the requirements of the Securities and Exchange Commission (“SEC”) for interim financial reporting. As permitted under these rules, certain footnotes and other financial information that are normally required by accounting principles generally accepted in the United States (“GAAP”) can be condensed or omitted. The Condensed Consolidated Financial Statements included in this document reflect, in the opinion of our management, all adjustments (consisting of only normal recurring adjustments) necessary for a fair presentation of the results for the interim periods presented. The following notes should be read in conjunction with the accounting policies and other disclosures in the Notes to the Consolidated Financial Statements included in our Annual Report on Form 10-K filed with the SEC for the year ended December 31, 2018 (the “10-K Report”). Sales, expenses, cash flows, assets and liabilities can and do vary during the year as a result of seasonality and other factors. Therefore, interim results are not necessarily indicative of the results to be expected for the full fiscal year.

The accompanying Condensed Consolidated Financial Statements include the accounts of Mosaic, its majority owned subsidiaries, and certain variable interest entities in which Mosaic is the primary beneficiary. Certain investments in companies where we do not have control but have the ability to exercise significant influence are accounted for by the equity method.

Leases

Leases

At inception, we determine whether an arrangement is a lease and the appropriate lease classification. Operating leases with terms greater than twelve months are included as operating lease right-of-use (“ROU”) assets within other assets, and lease liabilities within accrued liabilities and other noncurrent liabilities on our consolidated balance sheets. Finance leases with terms greater than twelve months are included as finance ROU assets within property and equipment, and finance lease liabilities within current maturities of long-term debt and long-term debt on our consolidated balance sheets.  Leases with terms of less than twelve months, referred to as short-term leases, do not create an ROU asset or lease liability on the balance sheet. 

ROU assets represent our right to use an underlying asset for the lease term. Lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at the commencement date of the lease, based on the present value of lease payments over the lease term. As most of our leases do not provide an implicit rate, we use our incremental borrowing rate based on the information available at the commencement date in determining the present value of lease payments. The company's incremental borrowing rate for a lease is the rate of interest it would have to pay on a collateralized basis to borrow an amount equal to the lease payments under similar terms. For both operating and finance leases, the initial ROU asset equals the lease liability, plus initial direct costs, less lease incentives received. Our lease agreements may include options to extend or terminate the lease, which are included in the lease term at the commencement date when it is reasonably certain that we will exercise that option. In general, we do not consider optional periods included in our lease agreements as reasonably certain of exercise at inception.

We have lease agreements with lease and non-lease components, which are generally accounted for separately. For full-service railcar leases, we account for the lease and non-lease components as a single lease component. Additionally, for certain equipment leases, we apply assumptions using a portfolio approach given the generally consistent terms of the agreements. Lease payments based on usage (for example, per-mile or per-hour charges), referred to as variable lease costs, are recorded separately from the determination of the ROU asset and lease liability.

Accounting Estimates

Accounting Estimates

Preparation of the Condensed Consolidated Financial Statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of net sales and expenses during the reporting periods. The most significant estimates made by management relate to the estimates of fair value of acquired assets and liabilities, the recoverability of non-current assets including goodwill, the useful lives and net realizable values of long-lived assets, environmental and reclamation liabilities including asset retirement obligations (“ARO”), and income tax-related accounts, including the valuation allowance against deferred income tax assets. Actual results could differ from these estimates.

Earnings Per Share

The numerator for basic and diluted earnings per share (“EPS”) is net earnings attributable to Mosaic. The denominator for basic EPS is the weighted average number of shares outstanding during the period. The denominator for diluted EPS also includes the weighted average number of additional common shares that would have been outstanding if the dilutive potential common shares had been issued, unless the shares are anti-dilutive.

Income Taxes

We recognize interest and penalties related to unrecognized tax benefits as a component of our income tax provision.

Goodwill

We review goodwill for impairment annually in October or at any time events or circumstances indicate that the carrying value may not be fully recoverable, which is based on our accounting policy and GAAP.

Marketable Securities Held in Trust

The RCRA Trusts hold investments, which are restricted from our general use, in marketable debt securities classified as available-for-sale and are carried at fair value. As a result, unrealized gains and losses are included in other comprehensive income until realized, unless it is determined that the carrying value of an investment is impaired on an other-than-temporary basis.

We review the fair value hierarchy classification on a quarterly basis. Changes in the ability to observe valuation inputs may result in a reclassification of levels for certain securities within the fair value hierarchy. We determine the fair market values of our available-for-sale securities and certain other assets based on the fair value hierarchy described below:

Level 1: Values based on unadjusted quoted prices in active markets that are accessible at the measurement date for identical assets or liabilities.

Level 2: Values based on quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, or model-based valuation techniques for which all significant assumptions are observable in the market.

Level 3: Values generated from model-based techniques that use significant assumptions not observable in the market. These unobservable assumptions reflect our own estimates of assumptions that market participants would use in pricing the asset or liability. Valuation techniques include use of option pricing models, discounted cash flow models and similar techniques.

Asset Retirement Obligation

We recognize our estimated asset retirement obligations (“AROs”) in the period in which we have an existing legal obligation associated with the retirement of a tangible long-lived asset, and the amount of the liability can be reasonably estimated. The ARO is recognized at fair value when the liability is incurred with a corresponding increase in the carrying amount of the related long-lived asset. We depreciate the tangible asset over its estimated useful life. The liability is adjusted in subsequent periods through accretion expense, which represents the increase in the present value of the liability due to the passage of time. Such depreciation and accretion expenses are included in cost of goods sold for operating facilities and other operating expense for indefinitely closed facilities.

Accounting for derivative and hedging activities

We periodically enter into derivatives to mitigate our exposure to foreign currency risks and the effects of changing commodity prices. We record all derivatives on the Condensed Consolidated Balance Sheets at fair value. The fair value of these instruments is determined by using quoted market prices, third party comparables, or internal estimates. We net our derivative asset and liability positions when we have a master netting arrangement in place. Changes in the fair value of the foreign currency and commodity derivatives are immediately recognized in earnings because we do not apply hedge accounting treatment to these instruments.

Unrealized gains and (losses) on foreign currency exchange contracts used to hedge cash flows related to the production of our products are included in cost of goods sold in the Condensed Consolidated Statements of Earnings. Unrealized gains and (losses) on commodities contracts are also recorded in cost of goods sold in the Condensed Consolidated Statements of Earnings. Unrealized gains or (losses) on foreign currency exchange contracts used to hedge cash flows that are not related to the production of our products are included in the foreign currency transaction gain/(loss) caption in the Condensed Consolidated Statements of Earnings.

Fair value measurements

Following is a summary of the valuation techniques for assets and liabilities recorded in our Consolidated Balance Sheets at fair value on a recurring basis:

Foreign Currency Derivatives - The foreign currency derivative instruments that we currently use are forward contracts and zero-cost collars, which typically expire within eighteen months. Most of the valuations are adjusted by a forward yield curve or interest rates. In such cases, these derivative contracts are classified within Level 2. Some valuations are based on exchange-quoted prices, which are classified as Level 1. Changes in the fair market values of these contracts are recognized in the Condensed Consolidated Financial Statements as a component of cost of goods sold in our Corporate, Eliminations and Other segment, or foreign currency transaction (gain) loss.

Commodity Derivatives - The commodity contracts primarily relate to natural gas. The commodity derivative instruments that we currently use are forward purchase contracts, swaps, and three-way collars. The natural gas contracts settle using NYMEX futures or AECO price indexes, which represent fair value at any given time. The contracts’ maturities are for future months and settlements are scheduled to coincide with anticipated gas purchases during those future periods. Quoted market prices from NYMEX and AECO are used to determine the fair value of these instruments. These market prices are adjusted by a forward yield curve and are classified within Level 2. Changes in the fair market values of these contracts are recognized in the Condensed Consolidated Financial Statements as a component of cost of goods sold in our Corporate, Eliminations and Other segment.

Interest Rate Derivatives-We manage interest expense through interest rate contracts to convert a portion of our fixed-rate debt into floating-rate debt. We also enter into interest rate swap agreements to hedge our exposure to changes in future interest rates related to anticipated debt issuances. Valuations are based on external pricing sources and are classified as Level 2. Changes in the fair market values of these contracts are recognized in the Condensed Consolidated Financial Statements as a component of interest expense.

For cash and cash equivalents, receivables, net, accounts payable, structured accounts payable arrangements, and short-term debt, the carrying amount approximates fair value because of the short-term maturity of those instruments. The fair value of long-term debt, including the current portion, is estimated using quoted market prices for the publicly registered notes and debentures, classified as Level 1 and Level 2, respectively, within the fair value hierarchy, depending on the market liquidity of the debt.

Business Segments

The reportable segments are determined by management based upon factors such as products and services, production processes, technologies, market dynamics, and for which segment financial information is available for our chief operating decision maker.

We evaluate performance based on the operating earnings of the respective business segments, which includes certain allocations of corporate selling, general and administrative expenses. The segment results may not represent the actual results that would be expected if they were independent, stand-alone businesses. Intersegment eliminations, including profit on intersegment sales, mark-to-market gains/losses on derivatives, debt expenses, Streamsong Resort^® results of operations and the results of the China and India distribution businesses are included within Corporate, Eliminations and Other.

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Leases (Tables)

3 Months Ended

Mar. 31, 2019

Leases [Abstract]

Schedule of Prospective Adoption of New Accounting Pronouncements

Adoption of the standard related to leases impacted our previously reported results as follows:

	Balance as of		Adoption		Balance as of
	December 31, 2018		Adjustments		January 1, 2019
(in millions)
Operating lease right-of-use assets	$	—	$	241.1	$	241.1
Finance lease right-of-use assets	340.9		—		340.9
Accrued and other noncurrent liabilities	—		241.1		241.1
Long-term debt, including current maturities	302.2		—		302.2

Lease, Cost

The components of lease expense, included primarily within cost of goods sold and selling, general and administrative expenses, were as follows:

	Three Months Ended   March 31, 2019
(in millions)
Operating lease cost	$	26.6
Finance lease cost:
Amortization of right-of-use assets	$	6.3
Interest on lease liabilities	4.1
	$	10.4
Short-term lease cost	$	17.6
Variable lease cost	4.6
Total lease cost	$	59.2

Supplement cash flow information related to leases was as follows:

	Three Months Ended   March 31, 2019
(In millions)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	26.7
Operating cash flows from finance leases	$	2.8
Financing cash flows from finance leases	$	9.1
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	29.0
Finance leases	$	66.0

Other information related to leases was as follows:

	Three Months Ended   March 31, 2019
Weighted Average Remaining Lease Term
Operating leases	4.6 years
Finance leases	5.4 years
Weighted Average Discount Rate
Operating leases	6.7	%
Finance leases	4.0	%

Schedule of Future Minimum Lease Payments for Operating and Finance Leases

Future lease payments under non-cancellable leases recorded as of March 31, 2019, were as follows:

	Operating Leases			Finance Leases
(in millions)
2019 (excluding the three months ended March 31, 2019)	$	79.1		$	32.4
2020	75.6			50.6
2021	49.8			45.6
2022	34.9			37.9
2023	24.9			70.0
Thereafter	24.0			172.9
Total future lease payments	$	288.3		$	409.4
Less imputed interest	(40.7		)	(56.4		)
Total	$	247.6		$	353.0
Reported as of March 31, 2019
Other accrued liabilities	$	83.9		$	—
Current maturities of long-term debt	—			35.2
Other noncurrent liabilities	163.7			—
Long-term debt, less current maturities	—			317.8
Total	$	247.6		$	353.0

A schedule of our minimum lease payments under non-cancelable capital and operating leases as of December 31, 2018 is as follows:

(in millions)	Operating Leases		Capital Leases
2019	$	97.5	$	20.4
2020	76.8		26.4
2021	54.7		23.4
2022	36.6		17.2
2023	28.1		48.9
Subsequent years	30.9		165.9
	$	324.6	$	302.2

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Other Financial Statement Data (Tables)

3 Months Ended

Mar. 31, 2019

Other Financial Statement Data [Abstract]

Schedule of Other Financial Statement Data

The following provides additional information concerning selected balance sheet accounts:

	March 31, 2019		December 31, 2018
Other current assets
Income and other taxes receivable	$	240.7	$	149.2
Prepaid expenses	114.9		86.8
Other	42.0		44.6
	$	397.6	$	280.6
Other assets
Restricted cash	$	9.0	$	15.8
MRO inventory	138.8		134.6
Marketable securities held in trust	656.7		632.3
Operating lease right-of-use assets	244.8		—
Indemnification asset	30.3		30.7
Long-term receivable	84.9		91.7
Other	295.8		352.7
	$	1,460.3	$	1,257.8
Accrued liabilities
Accrued dividends	$	0.7	$	11.8
Payroll and employee benefits	121.4		$	217.5
Asset retirement obligations	140.0		136.3
Customer prepayments (a)	188.2		199.8
Accrued income tax	29.9		65.5
Operating lease obligation	83.9		—
Other	376.3		461.6
	$	940.4	$	1,092.5
Other noncurrent liabilities
Asset retirement obligations	$	1,020.0	$	1,023.8
Operating lease obligation	163.7		—
Accrued pension and postretirement benefits	147.5		146.3
Unrecognized tax benefits	34.6		33.0
Other	219.4		255.6
	$	1,585.2	$	1,458.7

______________________________

^(a) The timing of recognition of revenue related to our performance obligations may be different than the timing of collection of cash related to those performance obligations.  Specifically, we collect prepayments from certain customers in Brazil, as well as timing of cash collection from Canpotex which may occur prior to delivery of product to the end customer.  We generally satisfy our contract liabilities within one quarter of incurring the liability.

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Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2019

Earnings Per Share [Abstract]

Schedule of earnings per share

The following is a reconciliation of the numerator and denominator for the basic and diluted EPS computations:

	Three months ended
	March 31,
	2019		2018
Net earnings attributable to Mosaic	$	130.8	$	42.3
Basic weighted average number of shares outstanding	385.5		382.6
Dilutive impact of share-based awards	1.9		1.5
Diluted weighted average number of shares outstanding	387.4		384.1
Basic net earnings per share attributable to Mosaic	$	0.34	$	0.11
Diluted net earnings per share attributable to Mosaic	$	0.34	$	0.11

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Inventories (Tables)

3 Months Ended

Mar. 31, 2019

Inventory Disclosure [Abstract]

Schedule of inventories

Inventories consist of the following:

	March 31, 2019		December 31, 2018
Raw materials	$	116.6	$	147.5
Work in process	610.1		625.5
Finished goods	1,665.3		1,343.8
Final price deferred(a)	71.4		39.3
Operating materials and supplies	108.7		114.1
	$	2,572.1	$	2,270.2

______________________________

^(a)  Final price deferred is product that has shipped to customers, but the price has not yet been agreed upon.

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Goodwill (Tables)

3 Months Ended

Mar. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

The changes in the carrying amount of goodwill, by reporting unit, are as follows:

	Phosphates		Potash		Mosaic Fertilizantes			Corporate, Eliminations and Other		Total
Balance as of December 31, 2018	$	588.6	$	1,000.4	$	106.4		$	12.1	$	1,707.5
Foreign currency translation	—		19.5		(0.2		)	—		19.3
Balance as of March 31, 2019	$	588.6	$	1,019.9	$	106.2		$	12.1	$	1,726.8

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Marketable Securities Held in Trusts (Tables)

3 Months Ended

Mar. 31, 2019

Investments, Debt and Equity Securities [Abstract]

Available-for-sale investments

The estimated fair value of the investments in the RCRA Trusts as of March 31, 2019 and December 31, 2018 are as follows:

	March 31, 2019
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Level 1
Cash and cash equivalents	$	7.0	$	—	$	—		$	7.0
Level 2
Corporate debt securities	180.4		2.2		(1.3		)	181.3
Municipal bonds	183.7		1.9		(1.2		)	184.4
U.S. government bonds	269.8		5.3		—			275.1
Total	$	640.9	$	9.4	$	(2.5	)	$	647.8
	December 31, 2018
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Level 1
Cash and cash equivalents	$	4.0	$	—	$	—		$	4.0
Level 2
Corporate debt securities	180.8		0.3		(4.3		)	176.8
Municipal bonds	186.1		0.5		(3.4		)	183.2
U.S. government bonds	262.1		3.3		—			265.4
Total	$	633.0	$	4.1	$	(7.7	)	$	629.4

Fair value of available-for-sale debt securities in an unrealized loss position

The following tables show gross unrealized losses and fair values of the RCRA Trusts' available-for-sale securities that have been in a continuous unrealized loss position deemed to be temporary as of March 31, 2019 and December 31, 2018.

	March 31, 2019					December 31, 2018
	Less than 12 months					Less than 12 months
	Fair Value		Gross Unrealized Losses(a)			Fair Value		Gross Unrealized Losses(a)
Corporate debt securities	$	1.9	$	—		$	43.9	$	(0.6	)
Municipal bonds	1.6		—			12.3		—
U.S. government bonds	—		—			—		—
Total	$	3.5	$	—		$	56.2	$	(0.6	)
	March 31, 2019					December 31, 2018
	Greater than 12 months					Greater than 12 months
	Fair Value		Gross Unrealized Losses(a)			Fair Value		Gross Unrealized Losses(a)
Corporate debt securities	$	86.4	$	(1.3	)	$	103.4	$	(3.7	)
Municipal bonds	81.0		(1.2		)	117.5		(3.4		)
U.S. government bonds	—		—			—		—
Total	$	167.4	$	(2.5	)	$	220.9	$	(7.1	)

______________________________

^(a)  Represents the aggregate of the gross unrealized losses that have been in a continuous unrealized loss position as of March 31, 2019 and December 31, 2018.

Schedule of maturity dates for debt securities

The following table summarizes the balance by contractual maturity of the available-for-sale debt securities invested by the RCRA Trusts as of March 31, 2019. Actual maturities may differ from contractual maturities because the issuers of the securities may have the right to prepay obligations before the underlying contracts mature.

	March 31, 2019
Due in one year or less	$	42.7
Due after one year through five years	355.8
Due after five years through ten years	206.4
Due after ten years	35.9
Total debt securities	$	640.8

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Schedule of Change in Asset Retirement Obligations (Tables)

3 Months Ended

Mar. 31, 2019

Asset Retirement Obligation Disclosure [Abstract]

Schedule of Change in Asset Retirement Obligation [Table Text Block]

A reconciliation of our AROs is as follows:

(in millions)	March 31, 2019			December 31, 2018
AROs, beginning of period	$	1,160.1		$	859.3
Liabilities acquired in the Acquisition	—			258.9
Liabilities incurred	4.0			27.8
Liabilities settled	(22.2		)	(69.6		)
Accretion expense	15.3			48.0
Revisions in estimated cash flows	1.5			78.2
Foreign currency translation	1.3			(42.5		)
AROs, end of period	1,160.0			1,160.1
Less current portion	140.0			136.3
	$	1,020.0		$	1,023.8

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Accounting for Derivative Notional Amounts (Tables)

3 Months Ended

Mar. 31, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule Of Derivative Instruments Notional Amounts

As of March 31, 2019 and December 31, 2018, the following is the total absolute notional volume associated with our outstanding derivative instruments:

(in millions of Units)			March 31, 2019	December 31, 2018
Derivative Instrument	Derivative Category	Unit of Measure
Foreign currency derivatives	Foreign currency	US Dollars	1,626.6	2,091.7
Interest rate derivatives	Interest rate	US Dollars	585.0	585.0
Natural gas derivatives	Commodity	MMbtu	50.7	52.2

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Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2019

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The carrying amounts and estimated fair values of our financial instruments are as follows:

	March 31, 2019				December 31, 2018
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Cash and cash equivalents	$	384.6	$	384.6	$	847.7	$	847.7
Accounts Receivables	792.0		792.0		838.5		838.5
Accounts payable	781.6		781.6		780.9		780.9
Structured accounts payable arrangements	466.9		466.9		572.8		572.8
Short-term debt (a)	167.5		167.5		11.5		11.5
Long-term debt, including current portion	4,573.8		4,724.0		4,517.5		4,554.6

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Related Party Transactions (Tables)

3 Months Ended

Mar. 31, 2019

Related Party Transactions [Abstract]

Schedule of related party transactions

The Condensed Consolidated Statements of Earnings included the following transactions with our non-consolidated companies:

	Three months ended
	March 31,
	2019		2018
Transactions with non-consolidated companies included in net sales	$	262.5	$	114.1
Transactions with non-consolidated companies included in cost of goods sold	251.0		203.7

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Business Segments (Tables)

3 Months Ended

Mar. 31, 2019

Segment Reporting [Abstract]

Schedule of Segment Reporting Information

Segment information for the three months ended March 31, 2019 and 2018 was as follows:

	Phosphates		Potash		Mosaic Fertilizantes		Corporate, Eliminations and Other (a)			Total
Three months ended March 31, 2019
Net sales to external customers	$	598.1	$	497.3	$	698.0	$	106.3		$	1,899.7
Intersegment net sales	207.9		6.2		—		(214.1		)	—
Net sales	806.0		503.5		698.0		(107.8		)	1,899.7
Gross margin	54.8		185.4		52.4		16.9			309.5
Canadian resource taxes	—		46.9		—		—			46.9
Gross margin (excluding Canadian resource taxes)	54.8		232.3		52.4		16.9			356.4
Operating earnings (loss)	43.5		175.8		27.3		(44.5		)	202.1
Capital expenditures	120.4		140.4		51.8		1.3			313.9
Depreciation, depletion and amortization expense	103.5		78.3		31.5		4.8			218.1
Three months ended March 31, 2018
Net sales to external customers	$	764.2	$	401.5	$	665.3	$	102.7		$	1,933.7
Intersegment net sales	101.7		2.2		—		(103.9		)	—
Net sales	865.9		403.7		665.3		(1.2		)	1,933.7
Gross margin	96.5		102.4		59.2		(16.0		)	242.1
Canadian resource taxes	—		26.3		—		—			26.3
Gross margin (excluding Canadian resource taxes)	96.5		128.7		59.2		(16.0		)	268.4
Operating earnings (loss)	77.8		91.6		12.8		(101.5		)	80.7
Capital expenditures	100.2		103.8		17.9		1.4			223.3
Depreciation, depletion and amortization expense	99.3		75.6		37.2		5.4			217.5
Total Assets
As of March 31, 2019	$	8,424.4	$	7,439.0	$	4,070.4	$	511.5		$	20,445.3
As of December 31, 2018	7,877.3		7,763.1		3,952.4		526.4			20,119.2

______________________________

^(a)  The “Corporate, Eliminations and Other” category includes the results of our ancillary distribution operations in India and China.  For the three months ended March 31, 2019, distribution operations in India and China had revenue of $93.2 million and gross margin of $9.0 million. For the three months ended March 31, 2018, distribution operations in India and China had revenue of $89.4 million and gross margin of $10.1 million.

Disaggregation of Revenue

Financial information relating to our operations by geographic area is as follows:

	Three Months Ended March 31,
(in millions)	2019		2018
Net sales(a):
Brazil	$	678.0	$	688.6
Canpotex(b)	257.6		110.6
Canada	136.1		126.1
China	65.1		62.9
Australia	56.0		83.9
Mexico	44.4		59.0
India	27.8		32.3
Argentina	25.8		6.8
Paraguay	21.4		14.5
Peru	20.1		11.5
Columbia	16.5		26.4
Chile	10.9		15.7
Dominican Republic	7.5		2.5
Thailand	5.1		8.0
Other	17.5		53.9
Total international countries	1,389.8		1,302.7
United States	509.9		631.0
Consolidated	$	1,899.7	$	1,933.7

______________________________

^(a)  Revenues are attributed to countries based on location of customer.

^(b)  Canpotex is the export association of the Saskatchewan potash producers.

Net sales by product type are as follows:

	Three Months Ended March 31,
(in millions)	2019		2018
Sales by product type:
Phosphate Crop Nutrients	$	524.6	$	636.9
Potash Crop Nutrients	572.1		463.3
Crop Nutrient Blends	293.4		268.4
Specialty Products(a)	319.5		374.5
Phosphate Rock	7.0		21.8
Other(b)	183.1		168.8
	$	1,899.7	$	1,933.7

____________________________

^(a)  Includes sales of MicroEssentials^®, K-Mag, Aspire and animal feed ingredients.

^(b)  Includes sales of industrial potash, nitrogen and other products.

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Organization and Nature of Business (Details)	3 Months Ended
	Mar. 31, 2019	Jan. 08, 2018
Miski Mayo Joint Venture
Schedule of Equity Method Investments [Line Items]
Business Acquisition, Percentage of Voting Interests Acquired		40.00%
Business Combination, Step Acquisition, Equity Interest in Acquiree, Percentage		75.00%
MWSPC Joint Venture
Schedule of Equity Method Investments [Line Items]
Mosaic's ownership percentage	25.00%
Percent of joint venture production Mosaic expects to market	25.00%

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Schedule of Propsective Adoption of New Accounting Pronouncements (Details) - USD ($) $ in Millions	Mar. 31, 2019	Jan. 01, 2019	Dec. 31, 2018
Leases, Initial Application Period Cumulative Effect Transition [Line Items]
Operating Lease, Right-of-Use Asset	$ 244.8	$ 241.1	$ 0.0
Finance Lease, Right-of-Use Asset	405.1	340.9	340.9
Operating Lease, Liability	$ 247.6	241.1	0.0
Capital Lease Obligations		302.2	$ 302.2
Accounting Standards Update 2016-02 [Member]
Leases, Initial Application Period Cumulative Effect Transition [Line Items]
Operating Lease, Right-of-Use Asset		241.1
Finance Lease, Right-of-Use Asset		0.0
Operating Lease, Liability		241.1
Capital Lease Obligations		$ 0.0

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Components of Lease Expense (Details) $ in Millions	3 Months Ended
	Mar. 31, 2019 USD ($)
Leases [Abstract]
Operating Lease Cost	$ 26.6
Finance Lease, Right-of-Use Asset, Amortization	6.3
Finance Lease, Interest Expense	4.1
Finance Lease Cost	10.4
Short-term Lease, Cost	17.6
Variable Lease, Cost	4.6
Lease, Cost	59.2
Operating Lease, Payments	26.7
Finance Lease, Interest Payment on Liability	2.8
Finance Lease, Principal Payments	9.1
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability	29.0
Right-of-Use Asset Obtained in Exchange for Finance Lease Liability	$ 66.0
Operating Lease, Weighted Average Remaining Lease Term	4 years 7 months
Finance Lease, Weighted Average Remaining Lease Term	5 years 5 months
Operating Lease, Weighted Average Discount Rate, Percent	6.70%
Finance Lease, Weighted Average Discount Rate, Percent	4.00%

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Future Minimum Payments Under Non-Cancelable Operating Leases (Details) - USD ($) $ in Millions	Mar. 31, 2019	Jan. 01, 2019	Dec. 31, 2018
Leases [Abstract]
Operating Leases, Future Minimum Payments Due, Next Twelve Months	$ 79.1		$ 97.5
Operating Leases, Future Minimum Payments, Due in Two Years	75.6		76.8
Operating Leases, Future Minimum Payments, Due in Three Years	49.8		54.7
Operating Leases, Future Minimum Payments, Due in Four Years	34.9		36.6
Operating Leases, Future Minimum Payments, Due in Five Years	24.9		28.1
Operating Leases, Future Minimum Payments, Due Thereafter	24.0		30.9
Operating Leases, Future Minimum Payments Due	288.3		324.6
Finance Lease, Liability, Payments, Due Next Twelve Months	32.4
Finance Lease, Liability, Payments, Due Year Two	50.6
Finance Lease, Liability, Payments, Due Year Three	45.6
Finance Lease, Liability, Payments, Due Year Four	37.9
Finance Lease, Liability, Payments, Due Year Five	70.0
Finance Lease, Liability, Payments, Due after Year Five	172.9
Finance Lease, Liability, Payments, Due	409.4
Operating Leases, Imputed Interest	(40.7)
Debt Instrument, Increase, Accrued Interest	(56.4)
Operating Lease, Liability	247.6	$ 241.1	0.0
Finance Lease, Liability	353.0
Operating Lease, Liability, Current	83.9		0.0
Operating Lease, Liability, Noncurrent	163.7		0.0
Finance Lease, Liability, Current	35.2
Finance Lease, Liability, Noncurrent	$ 317.8
Capital Leases, Future Minimum Payments Due, Next Twelve Months			20.4
Capital Leases, Future Minimum Payments Due in Two Years			26.4
Capital Leases, Future Minimum Payments Due in Three Years			23.4
Capital Leases, Future Minimum Payments Due in Four Years			17.2
Capital Leases, Future Minimum Payments Due in Five Years			48.9
Capital Leases, Future Minimum Payments Due Thereafter			165.9
Capital Leases, Future Minimum Payments Due			$ 302.2

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Leases Finance and Operating Lease (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Jan. 01, 2019	Dec. 31, 2018
Leases [Abstract]
Finance and Operating Leases, average remaining maturity	29 years
Finance and Operating Leases, average lease extension term	10 years
Finance Lease, Right-of-Use Asset	$ 405.1	$ 340.9	$ 340.9
Finance Lease, Accumulated Depreciation	32.9
Operating Lease, Right-of-Use Asset	$ 244.8	$ 241.1	$ 0.0

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Other Financial Statement Data (Details) - USD ($) $ in Millions		Mar. 31, 2019	Jan. 01, 2019	Dec. 31, 2018	Mar. 31, 2018
Other current assets
Income and other taxes receivable		$ 240.7		$ 149.2
Prepaid expenses		114.9		86.8
Other		42.0		44.6
Total other current assets		397.6		280.6
Other assets
Restricted cash		9.0		15.8	$ 34.3
MRO inventory		138.8		134.6
Marketable securities held in trust		656.7		632.3
Operating Lease, Right-of-Use Asset		244.8	$ 241.1	0.0
Indemnification asset		30.3		30.7
Nontrade Receivables, Noncurrent		84.9		91.7
Other		295.8		352.7
Total other assets		1,460.3		1,257.8
Accrued liabilities
Dividends Payable		0.7		11.8
Payroll and employee benefits		121.4		217.5
Asset retirement obligations		140.0		136.3
Customer prepayments (a)	[1]	188.2		199.8
Operating Lease, Liability, Current		83.9		0.0
Other		376.3		461.6
Total accrued liabilities, current		940.4		1,092.5
Contractual Obligation For Equity Method Investment		29.9		65.5
Other noncurrent liabilities
Asset retirement obligations		1,020.0		1,023.8
Operating Lease, Liability, Noncurrent		163.7		0.0
Accrued pension and postretirement benefits		147.5		146.3
Unrecognized tax benefits		34.6		33.0
Other		219.4		255.6
Total other noncurrent liabilities		$ 1,585.2		$ 1,458.7

[1] The timing of recognition of revenue related to our performance obligations may be different than the timing of collection of cash related to those performance obligations. Specifically, we collect prepayments from certain customers in Brazil, as well as timing of cash collection from Canpotex which may occur prior to delivery of product to the end customer. We generally satisfy our contract liabilities within one quarter of incurring the liability.

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Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Earnings Per Share [Abstract]
Net earnings attributable to Mosaic	$ 130.8	$ 42.3
Basic weighted average number of shares outstanding	385.5	382.6
Dilutive impact of share-based awards	1.9	1.5
Diluted weighted average number of shares outstanding	387.4	384.1
Basic net earnings per share attributable to Mosaic	$ 0.34	$ 0.11
Diluted net earnings per share attributable to Mosaic	$ 0.34	$ 0.11
Shares subject to issuance upon exercise of stock options excluded from the calculation of diluted earnings per share	1.6	2.7

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Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Interest And Penalties [Abstract]
Change in unrecognized tax benefit	$ 1.2
Unrecognized tax benefits	39.3
Unrecognized tax benefits that would impact effective tax rate	19.3
Unrecognized tax benefits, income tax penalties and interest accrued	5.5		$ 4.9
Income Tax (Expense) Benefit, Continuing Operations [Abstract]
Effective income tax rate reconciliation, other expense (benefit) reconciling items, amount	0.4	$ 48.0
Refund of Alternative Minimum Tax Credits		2.0
Other Tax Expense (Benefit)	$ 0.3
Increase (Decrease) in Royalties Payable		1.6
Effective Income Tax Rate Reconciliation, Prior Year Income Taxes, Amount		3.8
United States Tax Cuts and Jobs Act Law [Member]
Income Tax (Expense) Benefit, Continuing Operations [Abstract]
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount		$ 57.0

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Inventories (Details) - USD ($) $ in Millions		Mar. 31, 2019	Dec. 31, 2018
Inventory Disclosure [Abstract]
Raw materials		$ 116.6	$ 147.5
Work in process		610.1	625.5
Finished goods		1,665.3	1,343.8
Other Inventory, Inventory at off Site Premises, Gross	[1]	71.4	39.3
Operating materials and supplies		108.7	114.1
Total Inventory		$ 2,572.1	$ 2,270.2

[1] Final price deferred is product that has shipped to customers, but the price has not yet been agreed upon.

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Goodwill (Details) $ in Millions	3 Months Ended
	Mar. 31, 2019 USD ($)
Goodwill [Line Items]
Beginning Balance	$ 1,707.5
Foreign currency translation	19.3
Ending Balance	1,726.8
Phosphates Segment
Goodwill [Line Items]
Beginning Balance	588.6
Foreign currency translation	0.0
Ending Balance	588.6
Potash Segment
Goodwill [Line Items]
Beginning Balance	1,000.4
Foreign currency translation	19.5
Ending Balance	1,019.9
Mosaic Fertilizantes
Goodwill [Line Items]
Beginning Balance	106.4
Foreign currency translation	(0.2)
Ending Balance	106.2
Corporate Eliminations And Other Segment
Goodwill [Line Items]
Beginning Balance	12.1
Foreign currency translation	0.0
Ending Balance	$ 12.1

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Marketable Securities Held in Trusts - Maturity Dates and Realized Gain and Loss (Details) - Debt securities - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Debt Securities, Available-for-sale [Line Items]
Available-for-sale Securities, Gross Realized Gains	$ 3.1	$ 0.0
Gross realized losses	0.8	$ 4.9
Available-for-sale Securities, Debt Maturities, Fair Value, Fiscal Year Maturity
Available-for-sale debt maturities due within one year, fair value	42.7
Available-for-sale debt maturities, after 1 but within 5 years, fair value	355.8
Available-for-sale debt maturities, after 5 but within 10 years, fair value	206.4
Available-for-sale debt maturities, after 10 years, fair value	35.9
Debt Securities, Available-for-sale	$ 640.8

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Marketable Securities Held in Trusts (Details) $ in Millions	3 Months Ended
	Mar. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Aug. 31, 2016 USD ($)
Investments, Debt and Equity Securities [Abstract]
Amount deposited by Mosaic into the RCRA Trusts			$ 630.0
Available-for-sale Securities, Fair Value to Amortized Cost Basis
Amortized cost	$ 640.9	$ 633.0
Gross unrealized gains	9.4	4.1
Gross unrealized losses	(2.5)	(7.7)
Estimated fair value	$ 647.8	629.4
Number Of Decades Remaining For Trust	3
Other-than-temporary Impairment Loss, Debt Securities, Available-for-sale, Recognized in Earnings	$ 0.0
Cash and Cash Equivalents | Level 1
Available-for-sale Securities, Fair Value to Amortized Cost Basis
Amortized cost	7.0	4.0
Gross unrealized gains	0.0	0.0
Gross unrealized losses	0.0	0.0
Estimated fair value	7.0	4.0
Corporate debt securities | Level 2
Available-for-sale Securities, Fair Value to Amortized Cost Basis
Amortized cost	180.4	180.8
Gross unrealized gains	2.2	0.3
Gross unrealized losses	(1.3)	(4.3)
Estimated fair value	181.3	176.8
Municipal bonds | Level 2
Available-for-sale Securities, Fair Value to Amortized Cost Basis
Amortized cost	183.7	186.1
Gross unrealized gains	1.9	0.5
Gross unrealized losses	(1.2)	(3.4)
Estimated fair value	184.4	183.2
U.S. government bonds | Level 2
Available-for-sale Securities, Fair Value to Amortized Cost Basis
Amortized cost	269.8	262.1
Gross unrealized gains	5.3	3.3
Gross unrealized losses	0.0	0.0
Estimated fair value	$ 275.1	$ 265.4

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Marketable Securities Held in Trusts - Continuous Loss Position (Details) - USD ($) $ in Millions		Mar. 31, 2019	Dec. 31, 2018
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss
Available-for-sale securities, less than twelve months, fair value		$ 3.5	$ 56.2
Available-for-sale securities, less than twelve months, gross unrealized losses	[1]	0.0	(0.6)
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value		167.4	220.9
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	[1]	(2.5)	(7.1)
Corporate debt securities
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss
Available-for-sale securities, less than twelve months, fair value		1.9	43.9
Available-for-sale securities, less than twelve months, gross unrealized losses	[1]	0.0	(0.6)
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value		86.4	103.4
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	[1]	(1.3)	(3.7)
Municipal bonds
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss
Available-for-sale securities, less than twelve months, fair value		1.6	12.3
Available-for-sale securities, less than twelve months, gross unrealized losses	[1]	0.0	0.0
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value		81.0	117.5
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	[1]	(1.2)	(3.4)
U.S. government bonds
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss
Available-for-sale securities, less than twelve months, fair value		0.0	0.0
Available-for-sale securities, less than twelve months, gross unrealized losses	[1]	0.0	0.0
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value		0.0	0.0
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	[1]	$ 0.0	$ 0.0

[1] Represents the aggregate of the gross unrealized losses that have been in a continuous unrealized loss position as of March 31, 2019 and December 31, 2018.

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Asset Retirement Obligation (Details) $ in Millions		3 Months Ended		12 Months Ended
	Aug. 31, 2016 USD ($)	Mar. 31, 2019 USD ($)	Mar. 31, 2018 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)
ARO Loss Contingencies [Line Items]
Asset Retirement Obligation, Liabilities Incurred		$ 4.0		$ 27.8
Number Of Consent Decrees		2
Asset Retirement Obligation		$ 1,160.0		1,160.1	$ 859.3
Asset Retirement Obligation, Period Increase (Decrease)		0.0		258.9
Surety Bonds Outstanding Delivered To EPA				233.7
Asset retirement obligations		$ 1,020.0		1,023.8
Number Of Decades Remaining For Trust		3
Asset Retirement Obligation, Liabilities Settled		$ (22.2)		(69.6)
Accretion expense for asset retirement obligations		15.3	$ 12.1	48.0
Asset Retirement Obligation, Revision of Estimate		1.5		78.2
Asset Retirement Obligation, Foreign Currency Translation Gain (Loss)		1.3		(42.5)
Asset retirement obligations		140.0		136.3
Unfavorable Regulatory Action | 2015 Consent Decrees With EPA
ARO Loss Contingencies [Line Items]
Payment related to loss contingency liability	$ 200.0
Asset retirement obligations, undiscounted				1,500.0
Asset Retirement Obligation				457.1
Bonnie Facility Trust [Member]
ARO Loss Contingencies [Line Items]
Assets Held-in-trust, Current				21.0
Plant City and Bonnie Facilities
ARO Loss Contingencies [Line Items]
Asset retirement obligations		$ 110.1		$ 109.2

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Contingencies (Details) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2019 USD ($)	Dec. 31, 2014 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)	Aug. 31, 2016 USD ($)	Dec. 31, 2013 USD ($)
Applicability, Impact and Conclusion of Environmental Loss Contingencies [Abstract]
Environmental contingency accrual	$ 54.8		$ 58.6
Loss Contingencies [Line Items]
Discounted asset retirement obligation	1,160.0		$ 1,160.1	$ 859.3
Amount deposited by Mosaic into the RCRA Trusts					$ 630.0
New Wales water loss incident
Loss Contingencies [Line Items]
Number Of Cells With Sinkholes					1
Number Of Cells In The Active Stack					2
Payment related to loss contingency liability	79.7
Asset retirement obligations, undiscounted	1.3
Minimum | New Wales water loss incident
Loss Contingencies [Line Items]
Financial assurance to support off-site monitoring and sinkhole remediation costs	40.0
Brazilian subsidiary environmental claims [Member]
Loss Contingencies [Line Items]
Loss Contingency Accrual	5.6
Brazilian subsidiary environmental claims [Member] | Maximum
Loss Contingencies [Line Items]
Maximum potential liabilitiy	164.1
Brazilian subsidiary Potash Mine occupational hazard [Member]
Loss Contingencies [Line Items]
Loss Contingency Accrual	2.7
Brazilian subsidiary judicial and administrative proceedings [Member]
Loss Contingencies [Line Items]
Maximum potential liabilitiy	46.4
Brazilian subsidiary judicial and administrative proceedings [Member] | Maximum
Loss Contingencies [Line Items]
Maximum potential liabilitiy	1,100.0
Brazilian subsidiary labor claims [Member]
Loss Contingencies [Line Items]
Loss Contingency Accrual	37.0
Brazilian subsidiary labor claims [Member] | Maximum
Loss Contingencies [Line Items]
Maximum potential liabilitiy	757.0
Brazilian subsidiary other civil contingent liabilities and other claims [Member]
Loss Contingencies [Line Items]
Maximum potential liabilitiy	3.7
Brazilian subsidiary other civil contingent liabilities and other claims [Member] | Maximum
Loss Contingencies [Line Items]
Maximum potential liabilitiy	172.9
Uberaba gypstacks settled litigation [Member]
Loss Contingencies [Line Items]
Loss Contingency, Damages Awarded, Value		$ 0.3
Uberaba EHS Class Action pending litigation [Member]
Loss Contingencies [Line Items]
Maximum potential liabilitiy						$ 31.8
Brazilian Non Income Tax Proceedings [Member] | Maximum
Loss Contingencies [Line Items]
Maximum potential liabilitiy	481.0
Brazilian Non Income Tax Proceedings [Member] | Maximum | Indemnification Agreement Vale S.A.
Loss Contingencies [Line Items]
Maximum potential liabilitiy	233.0
Brazilian Non Income Tax Proceedings [Member] | Maximum | PIS And Cofins Cases
Loss Contingencies [Line Items]
Maximum potential liabilitiy	$ 301.0

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Other Commitments (Details) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018	Mar. 31, 2018
Other Commitments [Line Items]
Restricted cash	$ 9.0	$ 15.8	$ 34.3
Asset retirement obligations	1,020.0	1,023.8
Plant City and Bonnie Facilities
Other Commitments [Line Items]
Asset retirement obligations	$ 110.1	$ 109.2

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Derivative Instruments - Gross Asset and Liability Positions (Details) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Gross asset position	$ 14.6	$ 13.4
Gross liability position	$ 37.3	$ 89.4

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Derivative Notional Amounts (Details) MMBTU in Millions, $ in Millions	Mar. 31, 2019 USD ($) MMBTU	Dec. 31, 2018 USD ($) MMBTU	Mar. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)
Foreign Exchange Contract
Notional Disclosures [Abstract]
Derivative, notional amount	$ 1,626.6	$ 2,091.7
Interest Rate Swap
Notional Disclosures [Abstract]
Derivative, notional amount	$ 585.0	$ 585.0	$ 275.0	$ 310.0
Commodity Contract (MMbtu)
Notional Disclosures [Abstract]
Nonmonetary derivative notional amount | MMBTU	50.7	52.2

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Credit Risk Related Contingent Features (Details) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Derivative, Credit Risk Related Contingent Features [Abstract]
The aggregate fair value of all derivative instruments with credit-risk-related contingent features that were in a liability position	$ 14.9	$ 37.9
Required collateral assets to be posted if the credit-risk contingent features of these underlying agreements were triggered	$ 13.1

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Fair Value Measurements (Details) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2019	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Repayments of Short-term Debt		$ 53.7	$ 0.0
Fair Value, Assets, Liabilities and Stockholders' Equity Measured on Recurring Basis [Abstract]
Gross asset position		14.6		$ 13.4
Gross liability position		$ 37.3		89.4
Fair Value, Measurements, Recurring [Member] | Foreign Exchange Contract
Fair Value, Assets, Liabilities and Stockholders' Equity Measured on Recurring Basis [Abstract]
Average maturity of foreign currency derivative instruments		18 months
Gross asset position		$ 13.1		13.1
Gross liability position		24.5		62.2
Fair Value, Measurements, Recurring [Member] | Commodity Contract
Fair Value, Assets, Liabilities and Stockholders' Equity Measured on Recurring Basis [Abstract]
Gross asset position		1.4		0.3
Gross liability position		10.8		17.7
Fair Value, Measurements, Recurring [Member] | Interest Rate Swap
Fair Value, Assets, Liabilities and Stockholders' Equity Measured on Recurring Basis [Abstract]
Gross asset position		0.1		0.0
Gross liability position		$ 2.0		$ 9.5
Estimate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Repayments of Short-term Debt	$ 38.0

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Fair Value Financial Instruments (Details) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2019	Mar. 31, 2019		Mar. 31, 2018	Dec. 31, 2018
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Repayments of Short-term Debt		$ 53.7		$ 0.0
Carrying Amount [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents		384.6			$ 847.7
Receivables, net		792.0			838.5
Accounts payable		781.6			780.9
Structured accounts payable arrangements		466.9			572.8
Short-term debt		167.5	[1]		11.5
Long-term debt, including current portion		4,573.8			4,517.5
Fair Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents		384.6			847.7
Receivables, net		792.0			838.5
Accounts payable		781.6			780.9
Structured accounts payable arrangements		466.9			572.8
Short-term debt		167.5	[1]		11.5
Long-term debt, including current portion		$ 4,724.0			$ 4,554.6
Estimate
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Repayments of Short-term Debt	$ 38.0

[1] Includes approximately $38.0 million related to a collateralized subsidy payment by the Government of India which was repaid in April 2019.

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Related Party Transactions (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Related Party Transaction [Line Items]
Due from Affiliates	$ (182.9)
Transactions with non-consolidated companies included in net sales	262.5	$ 114.1
Net amount owed to our non-consolidated companies			$ 95.2
Transactions with non-consolidated companies included in cost of goods sold	251.0	203.7
Indemnification asset	30.3		30.7
Affiliated Entity [Member]
Related Party Transaction [Line Items]
Notes Payable, Related Parties	$ 81.1		75.3
Maximum | Affiliated Entity [Member]
Related Party Transaction [Line Items]
Bridge Loan			$ 54.2
MWSPC Joint Venture
Related Party Transaction [Line Items]
Percent of joint venture production Mosaic expects to market	25.00%
MWSPC Joint Venture
Related Party Transaction [Line Items]
Transactions with non-consolidated companies included in net sales	$ 2.7	$ 1.0

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Business Segments (Details) - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Segment Reporting Information [Line Items]
Net sales		$ 1,899.7	$ 1,933.7
Gross margin		309.5	242.1
Canadian resource taxes		46.9	26.3
Gross margin (excluding canadian resource taxes)		356.4	268.4
Operating earnings (loss)		202.1	80.7
Depreciation, depletion and amortization expense		218.1	217.5
Capital expenditures		313.9	223.3
Total assets		20,445.3		$ 20,119.2
Phosphates Segment
Segment Reporting Information [Line Items]
Gross margin		54.8	96.5
Canadian resource taxes		0.0	0.0
Gross margin (excluding canadian resource taxes)		54.8	96.5
Operating earnings (loss)		43.5	77.8
Depreciation, depletion and amortization expense		103.5	99.3
Capital expenditures		120.4	100.2
Total assets		8,424.4		7,877.3
Potash Segment
Segment Reporting Information [Line Items]
Gross margin		185.4	102.4
Canadian resource taxes		46.9	26.3
Gross margin (excluding canadian resource taxes)		232.3	128.7
Operating earnings (loss)		175.8	91.6
Depreciation, depletion and amortization expense		78.3	75.6
Capital expenditures		140.4	103.8
Total assets		7,439.0		7,763.1
Mosaic Fertilizantes
Segment Reporting Information [Line Items]
Gross margin		52.4	59.2
Canadian resource taxes		0.0	0.0
Gross margin (excluding canadian resource taxes)		52.4	59.2
Operating earnings (loss)		27.3	12.8
Depreciation, depletion and amortization expense		31.5	37.2
Capital expenditures		51.8	17.9
Total assets		4,070.4		3,952.4
Corporate Eliminations And Other Segment
Segment Reporting Information [Line Items]
Gross margin	[1]	16.9	(16.0)
Canadian resource taxes	[1]	0.0	0.0
Gross margin (excluding canadian resource taxes)	[1]	16.9	(16.0)
Operating earnings (loss)	[1]	(44.5)	(101.5)
Depreciation, depletion and amortization expense	[1]	4.8	5.4
Capital expenditures	[1]	1.3	1.4
Total assets	[1]	511.5		$ 526.4
China and India distribution operations [Member] | Corporate Eliminations And Other Segment
Segment Reporting Information [Line Items]
Gross margin		9.0	10.1
Product [Member]
Segment Reporting Information [Line Items]
Net sales	[2]	1,899.7	1,933.7
Product [Member] | Phosphates Segment
Segment Reporting Information [Line Items]
Net sales		806.0	865.9
Product [Member] | Potash Segment
Segment Reporting Information [Line Items]
Net sales		503.5	403.7
Product [Member] | Mosaic Fertilizantes
Segment Reporting Information [Line Items]
Net sales		698.0	665.3
Product [Member] | Corporate Eliminations And Other Segment
Segment Reporting Information [Line Items]
Net sales	[1]	(107.8)	(1.2)
Product [Member] | China and India distribution operations [Member] | Corporate Eliminations And Other Segment
Segment Reporting Information [Line Items]
Net sales		93.2	89.4
Product [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Net sales		1,899.7	1,933.7
Product [Member] | Operating Segments [Member] | Phosphates Segment
Segment Reporting Information [Line Items]
Net sales		598.1	764.2
Product [Member] | Operating Segments [Member] | Potash Segment
Segment Reporting Information [Line Items]
Net sales		497.3	401.5
Product [Member] | Operating Segments [Member] | Mosaic Fertilizantes
Segment Reporting Information [Line Items]
Net sales		698.0	665.3
Product [Member] | Operating Segments [Member] | Corporate Eliminations And Other Segment
Segment Reporting Information [Line Items]
Net sales	[1]	106.3	102.7
Product [Member] | Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Net sales		0.0	0.0
Product [Member] | Intersegment Eliminations [Member] | Phosphates Segment
Segment Reporting Information [Line Items]
Net sales		207.9	101.7
Product [Member] | Intersegment Eliminations [Member] | Potash Segment
Segment Reporting Information [Line Items]
Net sales		6.2	2.2
Product [Member] | Intersegment Eliminations [Member] | Mosaic Fertilizantes
Segment Reporting Information [Line Items]
Net sales		0.0	0.0
Product [Member] | Intersegment Eliminations [Member] | Corporate Eliminations And Other Segment
Segment Reporting Information [Line Items]
Net sales	[1]	$ (214.1)	$ (103.9)

[1] The “Corporate, Eliminations and Other” category includes the results of our ancillary distribution operations in India and China. For the three months ended March 31, 2019, distribution operations in India and China had revenue of $93.2 million and gross margin of $9.0 million. For the three months ended March 31, 2018, distribution operations in India and China had revenue of $89.4 million and gross margin of $10.1 million.

[2] Revenues are attributed to countries based on location of customer.

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Disaggregation of Revenue (Details) - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2019	Mar. 31, 2018
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Including Assessed Tax		$ 1,899.7	$ 1,933.7
Product [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	[1]	1,899.7	1,933.7
Other Product Types [Member] | Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	[2]	183.1	168.8
Crop Nutrient Blends [Member] | Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Including Assessed Tax		293.4	268.4
Specialty Products [Member] | Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	[3]	319.5	374.5
Phosphate Rock [Member] | Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Including Assessed Tax		7.0	21.8
Potash Crop Nutrients [Member] | Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Including Assessed Tax		572.1	463.3
Phosphate Crop Nutrients [Member] | Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Including Assessed Tax		524.6	636.9
BRAZIL | Product [Member] | Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	[1]	678.0	688.6
Canpotex [Member] | Product [Member] | Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	[1],[4]	257.6	110.6
CANADA | Product [Member] | Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	[1]	136.1	126.1
CHINA | Product [Member] | Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Including Assessed Tax		65.1	62.9	[1]
INDIA | Product [Member] | Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	[1]	27.8	32.3
AUSTRALIA | Product [Member] | Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	[1]	56.0	83.9
MEXICO | Product [Member] | Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	[1]	44.4	59.0
COLOMBIA | Product [Member] | Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	[1]	16.5	26.4
PARAGUAY | Product [Member] | Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	[1]	21.4	14.5
ARGENTINA | Product [Member] | Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	[1]	25.8	6.8
PERU | Product [Member] | Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	[1]	20.1	11.5
CHILE | Product [Member] | Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	[1]	10.9	15.7
THAILAND | Product [Member] | Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	[1]	5.1	8.0
DOMINCAN REPUBLIC | Product [Member] | Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Including Assessed Tax		7.5	2.5	[1]
Other Foreign [Member] | Product [Member] | Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	[1]	17.5	53.9
Total Foreign [Member] | Product [Member] | Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	[1]	1,389.8	1,302.7
UNITED STATES | Product [Member] | Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	[1]	$ 509.9	$ 631.0

[1] Revenues are attributed to countries based on location of customer.

[2] Includes sales of industrial potash, nitrogen and other products.

[3] Includes sales of MicroEssentials®, K-Mag, Aspire and animal feed ingredients.

[4] .