15 paragraphs in the 10-Q filed Nov 4, 2026 with nothing like
them in the 10-Q filed Aug 5, 2026 (at least half the words must differ; new numbers alone do not count).
Quoted exactly, grouped by the item heading above them. This is text that changed, not a judgement of how serious it is.
On August 17, 2026, we finalized issuance of new senior notes consisting of $ 1.0 billion aggregate principal amount of 5.350 % senior notes due 2031, $ 500 million aggregate principal amount of 5.650 % senior notes due 2034 and $ 500 million aggregate principal amount of 5.900 % senior notes due 2036 (collectively, the “Senior Notes of 2026”). The Senior Notes of 2026 are Mosaic's senior unsecured obligations and rank equally in right of payment with Mosaic's existing and future senior unsecured indebtedness.
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During the three months ended September 30, 2026, we used a portion of the net proceeds from the Senior Notes of 2026 to extinguish $ 1.4 billion aggregate principal amount of our 4.050 % senior notes due 2027, 7.300 % debentures due 2028, 5.375 % senior notes due 2028 and 4.350 % senior notes due 2029, through cash tender offers and make-whole redemptions. As a result, we recognized a loss on extinguishment of debt of $ 13.1 million, consisting of premiums paid, transaction fees and the write-off of unamortized debt issuance costs and discounts, which is included in other income (expense) in the Condensed Consolidated Statements of Earnings (Loss). Following these transactions, $ 338.9 million aggregate principal amount of the 4.350 % senior notes due 2029 remains outstanding.
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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 nine months ended September 30, 2026, income tax expense
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During the third quarter of 2026, we entered into treasury lock agreements, which are interest rate contracts, with an aggregate notional amount of $ 1.0 billion to manage our exposure to changes in Treasury rates prior to the issuance of the Senior Notes of 2026, as described in Note 9. These agreements were not designated as hedging instruments. In August 2026, in connection with the pricing of the Senior Notes of 2026, we settled all of these agreements and recognized a gain of $ 2.9 million in interest expense during the three and nine months ended September 30, 2026.
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Equity securities represent our Ma’aden shares and are carried at fair value based on the unadjusted quoted price on the Saudi Exchange (Tadawul), which results in a Level 1 classification. Other income (expense) includes unrealized gains (losses) related to our Ma’aden shares held at period end of $ 38.0 million and $ 308.0 million for the three months ended September 30, 2026 and 2025, respectively, and $( 11.1 ) million and $ 407.7 million, for the nine months ended September 30, 2026 and 2025, respectively.
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Kronau. On September 15, 2026, we entered into an agreement to sell approximately 11,858 acres of land near Kronau, Saskatchewan, to an unrelated third-party for approximately $ 36 million, subject to adjustment. As of September 30, 2026, the land was classified as held for sale, and its carrying amount of approximately $ 10 million was reclassified from property, plant and equipment, net to Assets held for sale in the Condensed Consolidated Balance Sheets. No impairment was recognized because the fair value less costs to sell exceeded the carrying amount. The land is included in the Potash reportable segment, and we retained all mines and minerals. The transaction closed on October 28, 2026, resulting in a gain that we will recognize in the fourth quarter of 2026.
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• On August 17, 2026, we issued $2 billion of new senior notes consisting of $1.0 billion aggregate principal amount of 5.350% senior notes due 2031, $500 million aggregate principal amount of 5.650% senior notes due 2034 and $500 million aggregate principal amount of 5.900% senior notes due 2036. We used a portion of the net proceeds from these notes to extinguish $1.4 billion aggregate principal amount of our 4.050% senior notes due 2027, 7.300% debentures due 2028, 5.375% senior notes due 2028 and 4.350% senior notes due 2029, through cash tender offers and
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make-whole redemptions. As a result, we recognized a loss on extinguishment of debt of $13.1 million, consisting of premiums paid, transaction fees and the write-off of unamortized debt issuance costs and discounts, which is included in other income (expense) in the Condensed Consolidated Statements of Earnings (Loss). We also used a portion of the proceeds to repay a $500 million term loan that was entered into during the quarter.
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• On September 15, 2026, we entered into an agreement to sell approximately 11,858 acres of land near Kronau, Saskatchewan, for approximately $36 million. As of September 30, 2026, the land was classified as held for sale. The transaction closed on October 28, 2026, resulting in a gain that we will recognize in the fourth quarter of 2026.
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Increased costs due to our decision to curtail production at certain facilities further impacted operating results. These impacts were partially offset by the global pricing environment, which drove an increase in average selling prices.
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settlement and tariff refund mentioned above in the three-month discussion. The prior year period benefitted from the recovery of customer receivables in Brazil mentioned in the three-month discussion.
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Legal proceedings
On June 23, 2026, plaintiffs filed a motion to amend their complaint to add a new class representative for the proposed plaintiffs’ class residing at the Paradise Lakes housing community. On July 9, 2026, the court granted the plaintiffs’ request. The class certification hearing now is scheduled for January 8, 2027.
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Miski Mayo appealed the decision, and in September 2026, the OEFA Tribunal partially granted the appeal. The decision is currently under review.
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