MOS · 10-Q · 2026Q2 · Full report

Income Tax Rate Changes

MOSAIC CO · 2026-08-05 · Importance 65 · Surprise 82

The effective tax rate declined to 11.0% for the six months ended June 30, 2026 from 23.9% in the prior-year period. Income taxes were a $64.8 million benefit in the six months of 2026 compared with $209.3 million of expense in 2025, a $274.1 million improvement. Second-quarter tax benefit was $33.8 million at an 11.2% effective rate versus $146.0 million of expense at a 25.9% rate in 2025. The 2026 benefit primarily reflected jurisdictional earnings mix and depletion benefits, partly offset by Brazil valuation-allowance changes, withholding tax and foreign/U.S. taxation effects.

Key facts

• Effective tax rate for the three months ended June 30, 2026: 11.2% with a tax benefit (provision) of $(33.8) million; for the six months ended June 30, 2026: effective tax rate 11.0% with tax benefit of $(64.8) million. source