2017 Q4 Form 10-K Financial Statement

#000161803419000004 Filed on March 13, 2019

View on sec.gov

Income Statement

Concept 2017 Q4 2016 Q4 2016
Revenue $2.092B $1.862B $7.163B
YoY Change 12.35% -13.92% -19.48%
Cost Of Revenue $1.812B $1.656B $6.353B
YoY Change 9.4% -8.38% -11.49%
Gross Profit $280.1M $205.8M $810.0M
YoY Change 36.1% -42.11% -52.85%
Gross Profit Margin 13.39% 11.05% 11.31%
Selling, General & Admin $83.10M $74.60M $304.2M
YoY Change 11.39% -21.39% -15.78%
% of Gross Profit 29.67% 36.25% 37.56%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $172.0M $165.5M $711.2M
YoY Change 3.93% -10.54% -3.87%
% of Gross Profit 61.41% 80.42% 87.8%
Operating Expenses $121.0M $132.2M $304.2M
YoY Change -8.47% -12.57% -15.78%
Operating Profit $159.1M $73.60M $319.0M
YoY Change 116.17% -63.97% -75.05%
Interest Expense -$66.40M -$57.30M $140.6M
YoY Change 15.88% -4.34% 5.24%
% of Operating Profit -41.73% -77.85% 44.08%
Other Income/Expense, Net -$1.500M -$4.600M -$4.300M
YoY Change -67.39% 70.37% -75.0%
Pretax Income $59.20M $11.70M -$96.40M
YoY Change 405.98% -91.74% -114.26%
Income Tax $32.70M -$5.500M -$74.20M
% Of Pretax Income 55.24% -47.01%
Net Earnings -$431.1M $11.90M $297.8M
YoY Change -3722.69% -92.32% -70.23%
Net Earnings / Revenue -20.61% 0.64% 4.16%
Basic Earnings Per Share $0.85
Diluted Earnings Per Share -$1.229M $33.84K $0.85
COMMON SHARES
Basic Shares Outstanding 351.0M shares 350.2M shares 350.4M shares
Diluted Shares Outstanding 351.7M shares

Balance Sheet

Concept 2017 Q4 2016 Q4 2016
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.154B $673.0M $673.0M
YoY Change 220.06% -47.26% -47.26%
Cash & Equivalents $2.154B $673.1M $673.0M
Short-Term Investments
Other Short-Term Assets $273.2M $365.7M $220.0M
YoY Change -25.29% -41.82% -41.95%
Inventory $1.547B $1.391B $1.391B
Prepaid Expenses $69.00M $99.90M
Receivables $643.0M $628.0M $628.0M
Other Receivables $141.0M $146.0M $146.0M
Total Short-Term Assets $4.617B $3.058B $3.058B
YoY Change 50.98% -26.2% -26.19%
LONG-TERM ASSETS
Property, Plant & Equipment $9.712B $9.199B $9.199B
YoY Change 5.58% 5.48% 5.48%
Goodwill $1.694B $1.631B
YoY Change 3.84% 2.23%
Intangibles
YoY Change
Long-Term Investments $1.090B $1.063B $1.674B
YoY Change 2.48% 8.42% 70.64%
Other Assets $1.268B $1.054B $1.280B
YoY Change 20.24% -16.17% -34.33%
Total Long-Term Assets $14.02B $13.78B $13.78B
YoY Change 1.7% 4.05% 4.05%
TOTAL ASSETS
Total Short-Term Assets $4.617B $3.058B $3.058B
Total Long-Term Assets $14.02B $13.78B $13.78B
Total Assets $18.63B $16.84B $16.84B
YoY Change 10.65% -3.16% -3.16%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $540.9M $471.8M $601.0M
YoY Change 14.65% -9.37% -40.02%
Accrued Expenses $754.4M $837.3M $590.0M
YoY Change -9.9% -14.34% -22.77%
Deferred Revenue $140.4M
YoY Change
Short-Term Debt $6.100M $100.0K $0.00
YoY Change 6000.0% -99.61% -100.0%
Long-Term Debt Due $344.0M $39.00M $39.00M
YoY Change 782.05% -7.14% -7.14%
Total Short-Term Liabilities $2.031B $1.477B $1.477B
YoY Change 37.53% -27.86% -27.85%
LONG-TERM LIABILITIES
Long-Term Debt $4.878B $3.779B $3.779B
YoY Change 29.08% 0.24% 0.24%
Other Long-Term Liabilities $967.8M $952.9M $953.0M
YoY Change 1.56% -7.54% -7.57%
Total Long-Term Liabilities $967.8M $952.9M $4.732B
YoY Change 1.56% -7.54% -1.44%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.031B $1.477B $1.477B
Total Long-Term Liabilities $967.8M $952.9M $4.732B
Total Liabilities $2.999B $2.430B $7.256B
YoY Change 23.43% -21.05% -7.66%
SHAREHOLDERS EQUITY
Retained Earnings $10.63B $10.86B
YoY Change -2.14% -1.37%
Common Stock $48.00M $33.40M
YoY Change 43.71% 421.88%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $9.618B $9.585B $9.585B
YoY Change
Total Liabilities & Shareholders Equity $18.63B $16.84B $16.84B
YoY Change 10.65% -3.16% -3.16%

Cashflow Statement

Concept 2017 Q4 2016 Q4 2016
OPERATING ACTIVITIES
Net Income -$431.1M $11.90M $297.8M
YoY Change -3722.69% -92.32% -70.23%
Depreciation, Depletion And Amortization $172.0M $165.5M $711.2M
YoY Change 3.93% -10.54% -3.87%
Cash From Operating Activities $411.2M $322.5M $1.260B
YoY Change 27.5% -37.69% -38.17%
INVESTING ACTIVITIES
Capital Expenditures -$230.2M -$209.4M $843.1M
YoY Change 9.93% -29.76% -15.72%
Acquisitions
YoY Change
Other Investing Activities $205.7M -$56.70M -$19.30M
YoY Change -462.79% -110.73% 1654.55%
Cash From Investing Activities -$24.50M -$266.1M -$1.866B
YoY Change -90.79% -215.44% 66.85%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $75.00M
YoY Change -89.43%
Debt Paid & Issued, Net $769.1M
YoY Change 1190.44%
Cash From Financing Activities 1.090B -254.5M -$888.6M
YoY Change -528.13% -287.96% -0.54%
NET CHANGE
Cash From Operating Activities 411.2M 322.5M $1.260B
Cash From Investing Activities -24.50M -266.1M -$1.866B
Cash From Financing Activities 1.090B -254.5M -$888.6M
Net Change In Cash 1.476B -198.1M -$1.426B
YoY Change -845.23% -122.42% 500.0%
FREE CASH FLOW
Cash From Operating Activities $411.2M $322.5M $1.260B
Capital Expenditures -$230.2M -$209.4M $843.1M
Free Cash Flow $641.4M $531.9M $417.1M
YoY Change 20.59% -34.79% -59.82%

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CY2018Q4 us-gaap Business Acquisition Purchase Price Allocation Goodwill Expected Tax Deductible Amount
BusinessAcquisitionPurchasePriceAllocationGoodwillExpectedTaxDeductibleAmount
153900000 USD
CY2017 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
-43300000 USD
CY2017 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
8605700000 USD
CY2017Q4 us-gaap Capital Leased Assets Gross
CapitalLeasedAssetsGross
345000000 USD
CY2018Q4 us-gaap Capital Leased Assets Gross
CapitalLeasedAssetsGross
340900000 USD
CY2016Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
673100000 USD
CY2017Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
2153500000 USD
CY2018Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
847700000 USD
CY2015Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2137000000 USD
CY2016Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
711400000 USD
CY2017Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2194400000 USD
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
871000000 USD
CY2016 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-1425600000 USD
CY2017 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
1483000000 USD
CY2018 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-1323400000 USD
CY2016 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
1.10
CY2017 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.35
CY2018 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.1
CY2017Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2018Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2017Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
1000000000 shares
CY2018Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
1000000000 shares
CY2017Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
388998498 shares
CY2018Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
389242360 shares
CY2017Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
351049649 shares
CY2018Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
385470085 shares
CY2017Q4 us-gaap Common Stock Value
CommonStockValue
3500000 USD
CY2018Q4 us-gaap Common Stock Value
CommonStockValue
3800000 USD
CY2016 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
478500000 USD
CY2017 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
143400000 USD
CY2018 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-125500000 USD
CY2016 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
5500000 USD
CY2017 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
2600000 USD
CY2018 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
-5300000 USD
CY2016 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
484000000 USD
CY2017 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
146000000 USD
CY2018 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
-130800000 USD
CY2017Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
140400000 USD
CY2018Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
199800000 USD
CY2016 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
-41700000 USD
CY2017 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
-167600000 USD
CY2018 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
24500000 USD
CY2016 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
94900000 USD
CY2017 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
31000000 USD
CY2018 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
147200000 USD
CY2016 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
37300000 USD
CY2017 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
-121700000 USD
CY2017Q4 us-gaap Deferred Costs Current And Noncurrent
DeferredCostsCurrentAndNoncurrent
38600000 USD
CY2018Q4 us-gaap Deferred Costs Current And Noncurrent
DeferredCostsCurrentAndNoncurrent
39300000 USD
CY2016 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-147900000 USD
CY2017 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
602300000 USD
CY2018 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-105100000 USD
CY2016 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
32500000 USD
CY2017 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
54200000 USD
CY2018 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
173500000 USD
CY2016 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
-15900000 USD
CY2017 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
14900000 USD
CY2018 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
1800000 USD
CY2017Q4 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
5228700000 USD
CY2018Q4 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
4507300000 USD
CY2017Q4 us-gaap Debt Instrument Unamortized Discount Premium Net
DebtInstrumentUnamortizedDiscountPremiumNet
8500000 USD
CY2018Q4 us-gaap Debt Instrument Unamortized Discount Premium Net
DebtInstrumentUnamortizedDiscountPremiumNet
7300000 USD
CY2017Q4 us-gaap Debt Securities Available For Sale Restricted
DebtSecuritiesAvailableForSaleRestricted
628000000 USD
CY2018Q4 us-gaap Debt Securities Available For Sale Restricted
DebtSecuritiesAvailableForSaleRestricted
632300000 USD
CY2018 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
-1200000 USD
CY2016 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-111500000 USD
CY2017 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
616600000 USD
CY2018 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-96400000 USD
CY2017Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
1358300000 USD
CY2018Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
798000000 USD
CY2016 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
3900000 USD
CY2017 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-39900000 USD
CY2018 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
9900000 USD
CY2017Q4 us-gaap Deferred Tax Assets Capital Loss Carryforwards
DeferredTaxAssetsCapitalLossCarryforwards
100000 USD
CY2018Q4 us-gaap Deferred Tax Assets Capital Loss Carryforwards
DeferredTaxAssetsCapitalLossCarryforwards
3000000 USD
CY2017Q4 us-gaap Deferred Tax Assets Deferred Income
DeferredTaxAssetsDeferredIncome
252000000 USD
CY2018Q4 us-gaap Deferred Tax Assets Deferred Income
DeferredTaxAssetsDeferredIncome
0 USD
CY2017Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
1079700000 USD
CY2018Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
1591700000 USD
CY2017Q4 us-gaap Deferred Tax Assets Net
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495600000 USD
CY2018Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
61200000 USD
CY2017Q4 us-gaap Deferred Tax Assets Net Noncurrent
DeferredTaxAssetsNetNoncurrent
254600000 USD
CY2018Q4 us-gaap Deferred Tax Assets Net Noncurrent
DeferredTaxAssetsNetNoncurrent
343800000 USD
CY2018Q1 us-gaap Deferred Tax Assets Net Noncurrent
DeferredTaxAssetsNetNoncurrent
253300000 USD
CY2017Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
112000000 USD
CY2018Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
408900000 USD
CY2017Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
169700000 USD
CY2018Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
388800000 USD
CY2017Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Alternative Minimum Tax
DeferredTaxAssetsTaxCreditCarryforwardsAlternativeMinimumTax
46800000 USD
CY2018Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Alternative Minimum Tax
DeferredTaxAssetsTaxCreditCarryforwardsAlternativeMinimumTax
76500000 USD
CY2017Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Foreign
DeferredTaxAssetsTaxCreditCarryforwardsForeign
322900000 USD
CY2017Q4 us-gaap Deferred Tax Liabilities Undistributed Foreign Earnings
DeferredTaxLiabilitiesUndistributedForeignEarnings
15000000 USD
CY2018Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Foreign
DeferredTaxAssetsTaxCreditCarryforwardsForeign
493500000 USD
CY2017Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Severance Payments
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsSeverancePayments
2100000 USD
CY2018Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Severance Payments
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsSeverancePayments
33400000 USD
CY2017Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Asset Retirement Obligations
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAssetRetirementObligations
174100000 USD
CY2018Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Asset Retirement Obligations
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAssetRetirementObligations
187600000 USD
CY2017Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
584100000 USD
CY2018Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
1530500000 USD
CY2017Q4 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
862700000 USD
CY2018Q4 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
736800000 USD
CY2017Q4 us-gaap Deferred Tax Liabilities Noncurrent
DeferredTaxLiabilitiesNoncurrent
1117300000 USD
CY2018Q4 us-gaap Deferred Tax Liabilities Noncurrent
DeferredTaxLiabilitiesNoncurrent
1080600000 USD
CY2017Q4 us-gaap Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
150600000 USD
CY2018Q4 us-gaap Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
10300000 USD
CY2017Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
864200000 USD
CY2018Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
317300000 USD
CY2018Q4 us-gaap Deferred Tax Liabilities Undistributed Foreign Earnings
DeferredTaxLiabilitiesUndistributedForeignEarnings
15000000 USD
CY2018Q4 us-gaap Deferred Tax Liabilities Undistributed Foreign Earnings
DeferredTaxLiabilitiesUndistributedForeignEarnings
15000000 USD
CY2018Q4 us-gaap Defined Benefit Plan Expected Amortization Next Fiscal Year
DefinedBenefitPlanExpectedAmortizationNextFiscalYear
12100000 USD
CY2017Q4 us-gaap Defined Benefit Plan Fair Value Of Plan Assets
DefinedBenefitPlanFairValueOfPlanAssets
793200000 USD
CY2018Q4 us-gaap Defined Benefit Plan Fair Value Of Plan Assets
DefinedBenefitPlanFairValueOfPlanAssets
701200000 USD
CY2016 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
51100000 USD
CY2017 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
54300000 USD
CY2018 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
51200000 USD
CY2016 us-gaap Depreciation
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703800000 USD
CY2017 us-gaap Depreciation
Depreciation
659400000 USD
CY2018 us-gaap Depreciation
Depreciation
878200000 USD
CY2016 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
711200000 USD
CY2017 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
665500000 USD
CY2018 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
883900000 USD
CY2017Q4 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
15600000 USD
CY2018Q4 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
13400000 USD
CY2017Q4 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
26700000 USD
CY2018Q4 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
89400000 USD
CY2018 us-gaap Derivative Loss On Derivative
DerivativeLossOnDerivative
12000000 USD
CY2017Q4 us-gaap Derivative Net Liability Position Aggregate Fair Value
DerivativeNetLiabilityPositionAggregateFairValue
15000000 USD
CY2018Q4 us-gaap Derivative Net Liability Position Aggregate Fair Value
DerivativeNetLiabilityPositionAggregateFairValue
37900000 USD
CY2016 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
383700000 USD
CY2017 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
125100000 USD
CY2018 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
39100000 USD
CY2017Q4 us-gaap Dividends Payable Current
DividendsPayableCurrent
12100000 USD
CY2016Q4 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
96300000 USD
CY2017Q4 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
12100000 USD
CY2018Q4 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
11800000 USD
CY2016 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.306
CY2017 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
1.323
CY2018 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.140
CY2016 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.35
CY2017Q4 us-gaap Due To Affiliate Current And Noncurrent
DueToAffiliateCurrentAndNoncurrent
45400000 USD
CY2018Q4 us-gaap Due To Affiliate Current And Noncurrent
DueToAffiliateCurrentAndNoncurrent
95200000 USD
CY2016 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.85
CY2017 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.31
CY2018 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.22
CY2016 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.85
CY2017 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.31
CY2018 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.22
CY2016 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
68800000 USD
CY2017 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
14500000 USD
CY2018 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-63700000 USD
CY2017 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.35
CY2017 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.35
CY2018 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2016 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.077
CY2017 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
1.488
CY2018 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.152
CY2016 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
-0.040
CY2017 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
-0.469
CY2018 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
0.118
CY2016 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Depletion
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseDepletion
-0.344
CY2017 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Depletion
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseDepletion
-0.132
CY2018 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Depletion
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseDepletion
-0.067
CY2016 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost
0.022
CY2017 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost
0.020
CY2018 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost
0.007
CY2016 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.349
CY2017 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.000
CY2018 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.004
CY2016 us-gaap Effective Income Tax Rate Reconciliation Other Reconciling Items Percent
EffectiveIncomeTaxRateReconciliationOtherReconcilingItemsPercent
0.039
CY2017 us-gaap Effective Income Tax Rate Reconciliation Other Reconciling Items Percent
EffectiveIncomeTaxRateReconciliationOtherReconcilingItemsPercent
0.067
CY2018 us-gaap Effective Income Tax Rate Reconciliation Other Reconciling Items Percent
EffectiveIncomeTaxRateReconciliationOtherReconcilingItemsPercent
0.008
CY2016 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
-0.061
CY2017 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
-0.001
CY2018 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.020
CY2017Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
159500000 USD
CY2018Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
217500000 USD
CY2018 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P1Y
CY2016 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
10700000 USD
CY2017 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
9700000 USD
CY2018 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
5800000 USD
CY2016 us-gaap Employee Service Share Based Compensation Tax Benefit From Exercise Of Stock Options
EmployeeServiceShareBasedCompensationTaxBenefitFromExerciseOfStockOptions
3300000 USD
CY2016 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
242400000 USD
CY2017 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
374000000 USD
CY2018 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
551500000 USD
CY2017 us-gaap Employee Service Share Based Compensation Tax Benefit From Exercise Of Stock Options
EmployeeServiceShareBasedCompensationTaxBenefitFromExerciseOfStockOptions
14000000 USD
CY2018 us-gaap Employee Service Share Based Compensation Tax Benefit From Exercise Of Stock Options
EmployeeServiceShareBasedCompensationTaxBenefitFromExerciseOfStockOptions
2300000 USD
CY2016Q4 us-gaap Equity Method Investment Summarized Financial Information Assets
EquityMethodInvestmentSummarizedFinancialInformationAssets
8665400000 USD
CY2017Q4 us-gaap Equity Method Investment Summarized Financial Information Assets
EquityMethodInvestmentSummarizedFinancialInformationAssets
8623600000 USD
CY2018Q4 us-gaap Equity Method Investment Summarized Financial Information Assets
EquityMethodInvestmentSummarizedFinancialInformationAssets
9042900000 USD
CY2016Q4 us-gaap Equity Method Investment Summarized Financial Information Liabilities
EquityMethodInvestmentSummarizedFinancialInformationLiabilities
6310100000 USD
CY2017Q4 us-gaap Equity Method Investment Summarized Financial Information Liabilities
EquityMethodInvestmentSummarizedFinancialInformationLiabilities
5971900000 USD
CY2018Q4 us-gaap Equity Method Investment Summarized Financial Information Liabilities
EquityMethodInvestmentSummarizedFinancialInformationLiabilities
6658200000 USD
CY2016 us-gaap Equity Method Investment Summarized Financial Information Net Income Loss
EquityMethodInvestmentSummarizedFinancialInformationNetIncomeLoss
11900000 USD
CY2017 us-gaap Equity Method Investment Summarized Financial Information Net Income Loss
EquityMethodInvestmentSummarizedFinancialInformationNetIncomeLoss
95300000 USD
CY2018 us-gaap Equity Method Investment Summarized Financial Information Net Income Loss
EquityMethodInvestmentSummarizedFinancialInformationNetIncomeLoss
-5400000 USD
CY2016 us-gaap Equity Method Investment Summarized Financial Information Revenue
EquityMethodInvestmentSummarizedFinancialInformationRevenue
2307900000 USD
CY2017 us-gaap Equity Method Investment Summarized Financial Information Revenue
EquityMethodInvestmentSummarizedFinancialInformationRevenue
2871200000 USD
CY2018 us-gaap Equity Method Investment Summarized Financial Information Revenue
EquityMethodInvestmentSummarizedFinancialInformationRevenue
3555600000 USD
CY2016Q4 us-gaap Equity Method Investment Underlying Equity In Net Assets
EquityMethodInvestmentUnderlyingEquityInNetAssets
651500000 USD
CY2017Q4 us-gaap Equity Method Investment Underlying Equity In Net Assets
EquityMethodInvestmentUnderlyingEquityInNetAssets
712800000 USD
CY2018Q4 us-gaap Equity Method Investment Underlying Equity In Net Assets
EquityMethodInvestmentUnderlyingEquityInNetAssets
609100000 USD
CY2017Q4 us-gaap Equity Method Investments
EquityMethodInvestments
1089500000 USD
CY2018Q4 us-gaap Equity Method Investments
EquityMethodInvestments
826600000 USD
CY2017Q4 us-gaap Fair Value Option Aggregate Differences Long Term Debt Instruments
FairValueOptionAggregateDifferencesLongTermDebtInstruments
1400000 USD
CY2018Q4 us-gaap Fair Value Option Aggregate Differences Long Term Debt Instruments
FairValueOptionAggregateDifferencesLongTermDebtInstruments
17500000 USD
CY2016 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
40100000 USD
CY2017 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
49900000 USD
CY2018 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-191900000 USD
CY2016 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-27000000 USD
CY2017 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
25500000 USD
CY2018 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-63100000 USD
CY2016Q4 us-gaap Goodwill
Goodwill
1630900000 USD
CY2017Q4 us-gaap Goodwill
Goodwill
1693600000 USD
CY2018Q4 us-gaap Goodwill
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16700000 USD
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8300000 USD
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7500000 USD
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6100000 USD
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1000000 USD
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700000 USD
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182600000 USD
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23700000 USD
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0 shares
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2100000 USD
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2400000 USD
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1700000 USD
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4600000 USD
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229000000 USD
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49500000 USD
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1500000 USD
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75000000 USD
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385100000 USD
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210600000 USD
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38500000 USD
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15400000 USD
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">ORGANIZATION AND NATURE OF BUSINESS</font></div><div style="line-height:120%;padding-top:12px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Mosaic Company (&#8220;</font><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Mosaic</font><font style="font-family:inherit;font-size:10pt;">&#8221;, and, with its consolidated subsidiaries, &#8220;</font><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">we</font><font style="font-family:inherit;font-size:10pt;">&#8221;, &#8220;</font><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">us</font><font style="font-family:inherit;font-size:10pt;">&#8221;, &#8220;</font><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">our</font><font style="font-family:inherit;font-size:10pt;">&#8221;, or the &#8220;</font><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Company</font><font style="font-family:inherit;font-size:10pt;">&#8221;) 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.</font></div><div style="line-height:120%;padding-top:12px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On January 8, 2018, we completed our acquisition (the &#8220;</font><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Acquisition</font><font style="font-family:inherit;font-size:10pt;">&#8221;) of Vale Fertilizantes S.A. (now known as Mosaic Fertilizantes P&amp;K S.A. or the &#8220;</font><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Acquired Business</font><font style="font-family:inherit;font-size:10pt;">&#8221;). Upon completion of the Acquisition, we became the leading fertilizer producer and distributor in Brazil. To reflect the fact that our Brazilian business is no longer strictly a distribution business, as well as the significance of our investment in Brazil, we realigned our business segments (the &#8220;</font><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Realignment</font><font style="font-family:inherit;font-size:10pt;">&#8221;). Beginning in the first quarter of 2018, we report the results of the Mosaic Fertilizantes business as a segment, along with our other reportable segments of Phosphates and Potash.</font></div><div style="line-height:120%;padding-top:12px;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">After the Realignment, we are organized into the following business segments:</font></div><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> Our </font><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Phosphates</font><font style="font-family:inherit;font-size:10pt;"> 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 </font><font style="font-family:inherit;font-size:10pt;">40%</font><font style="font-family:inherit;font-size:10pt;"> economic interest in the Miski Mayo Phosphate Mine in Peru, which increased our aggregate interest to </font><font style="font-family:inherit;font-size:10pt;">75%</font><font style="font-family:inherit;font-size:10pt;">. These results are now consolidated in the Phosphates segment. The Phosphates segment also includes our </font><font style="font-family:inherit;font-size:10pt;">25%</font><font style="font-family:inherit;font-size:10pt;"> interest in the Ma'aden Wa'ad Al Shamal Phosphate Company (the &#8220;</font><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">MWSPC</font><font style="font-family:inherit;font-size:10pt;">&#8221;), a joint venture to develop, own and operate integrated phosphate production facilities in the Kingdom of Saudi Arabia. We market approximately </font><font style="font-family:inherit;font-size:10pt;">25%</font><font style="font-family:inherit;font-size:10pt;"> 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 Consolidated Statements of Earnings.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Our </font><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Potash</font><font style="font-family:inherit;font-size:10pt;"> 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 (&#8220;</font><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Canpotex</font><font style="font-family:inherit;font-size:10pt;">&#8221;), an export association of Canadian potash producers through which we sell our Canadian potash outside the U.S. and Canada.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Our </font><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Mosaic Fertilizantes</font><font style="font-family:inherit;font-size:10pt;"> business segment includes the assets in Brazil that we acquired in the Acquisition, which include five Brazilian 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.</font></div></td></tr></table><div style="line-height:120%;padding-top:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Intersegment eliminations, unrealized mark-to-market gains/losses on derivatives, debt expenses, Streamsong Resort</font><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">&#174;</sup></font><font style="font-family:inherit;font-size:10pt;"> results of operations and the results of our China and India distribution businesses are included within Corporate, Eliminations and Other. </font></div></div>
CY2018 us-gaap Use Of Estimates
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Accounting Estimates</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Preparation of the 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 (&#8220;</font><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">ARO</font><font style="font-family:inherit;font-size:10pt;">&#8221;), the costs of our employee benefit obligations for pension plans and postretirement benefits, income tax-related accounts, including the valuation allowance against deferred income tax assets, inventory valuation and accruals for pending legal and environmental matters. Actual results could differ from these estimates.</font></div></div>

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