Mosaic(MOS)2024-02-21 16:00Production Capacity and Operations - The Phosphates segment produced approximately 6.2 million tonnes of concentrated phosphate crop nutrients in 2023, accounting for about 80% of estimated North American annual production[28]. - The U.S. phosphate operations have a production capacity of approximately 4.5 million tonnes of phosphoric acid per year, representing about 7% of global capacity and 60% of North American capacity[26]. - The Florida phosphate rock mines produced approximately 10.0 million tonnes in 2023, which is about 47% of estimated North American annual production[29]. - The company has a 75% economic interest in the Miski Mayo Phosphate Mine in Peru, which has an annual production capacity of 4.8 million tonnes[31]. - The company produced approximately 3.0 million tonnes of phosphoric acid in 2023, with operational capacity being affected by various factors including demand and maintenance[28]. - The company has a 25% interest in the Ma'aden Wa'ad Al Shamal Phosphate Company, which produced 3.1 million tonnes of phosphate in 2023[33]. - The potash segment has an annual operational capacity of 11.5 million tonnes, accounting for approximately 14% of world annual capacity and 35% of estimated North American annual production[49]. - In 2023, production totaled 8.3 million tonnes, representing about 13% of estimated world annual production[49]. - The Esterhazy mine, the largest potash mine globally, is expected to complete full ramp-up of capacity and production during 2024 or early 2025[45]. - Mosaic Fertilizantes produced approximately 2.6 million tonnes of concentrated phosphate crop nutrients in 2023, which accounted for approximately 48% of estimated Brazilian annual production[62]. - The Brazilian phosphoric acid production totaled approximately 1.0 million tonnes in 2023, accounting for approximately 84% of Brazilian annual output[58]. Raw Material Consumption - The company consumed approximately 1.0 million tonnes of ammonia during 2023, with one tonne of DAP requiring approximately 0.23 tonnes of ammonia[36]. - The company purchased approximately 3.3 million long tons of sulfur in 2023, which is a key raw material for producing sulfuric acid[34]. - Natural gas usage for potash production totaled 16.6 million MM BTU during 2023[53]. Land and Resource Management - The company plans to explore and develop the DeSoto and South Pasture properties to offset future depletion at its Florida properties[31]. - The company owns over 368,000 acres of land in Florida, which provides access to phosphate rock reserves and supports its long-term land use strategy[43]. - The company owns approximately 1% of the Tiplam terminal in Santos, São Paulo, ensuring unloading priority for ammonia and capacity for rock, sulfur, and crop nutrients[69]. Sales and Market Presence - Mosaic Fertilizantes sold approximately 9.7 million tonnes of crop nutrient products in 2023, accounting for about 20% of fertilizer shipments in Brazil[57]. - The company distributed approximately 1,073,000 tonnes of phosphate and potash crop nutrients in China and 536,000 tonnes in India in 2023[75]. - The company has an entitlement percentage of 36.2% in Canpotex for potash exports, which is a significant part of its international sales strategy[82]. Financial and Community Investments - The company paid approximately 9.8 million related to the leasing of potash assets and mining rights for Taquari[72]. - The company invested $16.7 million in community initiatives in 2023, focusing on food, water, and local community[109]. - In 2023, 29% of the company's global giving targeted underserved or underrepresented populations[109]. Workforce and Labor Relations - The company employs 14,049 individuals as of December 31, 2023, including 10,352 salaried and 3,697 hourly employees[101]. - As of December 31, 2023, the company had 14,049 employees, with 11,644 males and 2,405 females[105]. - The company has eight collective bargaining agreements in the U.S. and Canada, with approximately 33% expiring in 2024[102]. - The company has not experienced significant work stoppages in many years, indicating strong labor relations[103]. - The company maintains specific talent programs for critical roles to minimize turnover and ensure operational continuity[109]. Safety, Diversity, and Inclusion - The company aims for zero harm to people and zero environmental incidents through its safety management system[106]. - The company is committed to diversity and inclusion, with ongoing initiatives to enhance workforce representation and accountability[109]. - The company has established internal analytical capabilities to evaluate pay equity and plans to address identified disparities in the 2024 compensation cycle[109]. - The company offers educational reimbursement programs to support employee skill development and career opportunities[109]. Competitive Landscape - The company operates in a highly competitive market, with significant competition from domestic and international producers, impacting pricing and market share[88]. - The company has a vertically integrated business model, providing a competitive advantage through economies of scale and strategic distribution networks[96]. - The company’s potash cost structure is competitive and expected to improve with ongoing expansion projects[95]. Innovation and Development - The company announced the formation of the Mosaic Biosciences platform in 2023, focusing on biological fertilizer innovations to enhance nutrient use efficiency[87].