Modeling with New Disclosures Linking Price & Drivers to Financial Results
There are four primary categories of revenues and expenses you need to understand in this segment
1.
Profit in inventory (PII)
This offsets intersegment profit before sales to final third party customers. For example: Phosphates segment will recognize sales
and profits for Micro Essential products sold through transfer pricing to our Brazil distribution business, but those revenues and
profits will be unwound in the corporate segment until that product is sold to independent third parties.
2.
3.
Corporate & Other
4.
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There is no Pll recorded for intra segment sales from production to distribution within Mosaic Fertilizantes
Pll is seasonal, negative when Brazil is building inventory before their seasonal peak in the third quarter, and positive when
inventory from intersegment sales is being drawn down.
Unallocated SG&A
This is primarily corporate functions not directly aligned with segments.
2020 is higher than normal run-rate due to investments in consulting for Supply and North American transformation.
Distribution businesses in China and India
These businesses sold 2.0 million tonnes of products in 2020, over 60% supplied from Canpotex.
We have Pll for Phosphate products and Potash products sold to Mosaic Fertilizantes or our China and India distribution
businesses.
-
Unrealized gain or loss on derivatives in COGS
This primarily relates to medium term hedges on BRL, and is excluded from adjusted EBITDA and adjusted EPS.
*Other also includes Stream Song in this segment.
Mosaic
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