美盛 2025年季度报告

FORM10-Q ☑QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the quarterly period endedSeptember30, 2025 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number001-32327 The Mosaic Company (Exact name of registrant as specified in its charter) (I.R.S. EmployerIdentification No.) 101 East Kennedy BlvdSuite 2500Tampa,Florida33602(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 classTrading Symbol(s)Name of each exchange on which registeredCommon Stock, par value $0.01 per shareMOSNew York Stock Exchange Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d) of the SecuritiesExchange 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 90days.Yesx No¨ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuantto Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant wasrequired to submit such files).YesxNo¨ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reportingcompany, 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 filerxAccelerated 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 forcomplying 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☐Nox Indicate the number of shares outstanding of each of the issuer’s classes of common stock as of the latest practicable date:317,407,877shares of Common Stock as of October31, 2025. Table of Contents PART I.FINANCIAL INFORMATION Item 1.Financial StatementsCondensed Consolidated Statements ofEarningsCondensed Consolidated Statements of Comprehensive Income (Loss)Condensed Consolidated Balance SheetsCondensed Consolidated Statements of Cash FlowsCondensed Consolidated Statements of EquityNotes to Condensed Consolidated Financial StatementsItem 2.Management's Discussion and Analysis of Financial Condition and Results of OperationsItem 3.Quantitative and Qualitative Disclosures About Market RiskItem 4.Controls and Procedures PART II.OTHER INFORMATION Item 1.Legal ProceedingsItem 1A.Risk FactorsItem 2.Unregistered Sales of Equity Securities and Use of ProceedsItem 4.Mine Safety DisclosuresItem 5.Other InformationItem 6.ExhibitsSignatures PART I. FINANCIAL INFORMATION THE MOSAIC COMPANYCONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(In millions)(Unaudited) THE MOSAIC COMPANYCONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Continued)(In millions) (Unaudited) 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 marketsconcentrated phosphate and potash crop nutrients. We conduct our business through wholly and majority owned subsidiaries and businesses inwhich we own less than a majority or a non-controlling interest, including consolidated variable interest entities and investments accounted forby the equity method. We are organized into the following business segments: •OurPhosphatebusiness segment owns and operates mines and production facilities in Florida which produce concentrated phosphatecrop nutrients and phosphate-based animal feed ingredients, and processing plants in Louisiana which produce concentrated phosphatecrop nutrients. The Phosphate segment includes our75% interest in the Miski Mayo Phosphate Mine (“Miski Mayo”) in Peru. Theseresults are consolidated in the Phosphate segment. Through December 24, 2024, the Phosphate segment included our prior25%interest in the Ma’aden Wa’ad Al Shamal Phosphate Company (“MWSPC”), a joint venture to develop, own and operate integratedphosphate production facilities in the Kingdom of Saudi Arabia. On December 24, 2024, we exchanged our owner