8 unchanged sentences
Mosaic hedges cash flows on a declining basis, up to 18 months for the Canadian dollar and up to 12 months for the Brazilian real.
−Removed: As of September 30, 2022, and December 31, 2021, the fair value of our major foreign currency exchange contracts was $(60.7) million and $(18.6) million, respectively.
+Added: As of March 31, 2023, and December 31, 2022, the fair value of our major foreign currency exchange contracts was $(24.4) million and $(27.3) million, respectively.
The table below provides information about Mosaic’s significant foreign exchange derivatives.
−Removed: (in millions US$) As of September 30, 2022 As of December 31, 2021
+Added: (in millions US$) As of March 31, 2023 As of December 31, 2022
Expected Maturity Date Fair Value Expected Maturity Date Fair Value
9 unchanged sentences
dollar 1.3276 1.3391 1.3157 1.3382
−Removed: Foreign Currency Exchange Collars
−Removed: Canadian Dollar $ 0.0 $ 0.4
−Removed: Notional (million US$) - long Canadian dollars $ — $ — $ — $ — $ 15.5 $ — $ —
−Removed: Weighted Average Participation Rate - Canadian dollar to U.S.
−Removed: dollar — — — — 1.3433 — —
−Removed: Weighted Average Protection Rate - Canadian dollar to U.S.
−Removed: dollar — — — — 1.2875 — —
Foreign Currency Exchange Non-Deliverable Forwards
Brazilian Real $ — $ —
−Removed: Notional (million US$) - short Brazilian real $ — $ — $ — $ — $ 531.5 $ — $ —
−Removed: Weighted Average Rate - Brazilian real to U.S.
−Removed: dollar — — — — 5.7121 — —
Notional (million US$) - long Brazilian real $ 9.7 $ — $ — $ —
12 unchanged sentences
dollar 6.8525 — 6.8094 —
−Removed: Notional (million US$) - long China renminbi $ 29.9 $ — $ — $ — — — —
−Removed: Weighted Average Rate - China renminbi to U.S.
−Removed: dollar 6.7495 — — — — — —
Total Fair Value $ (24.4) $ (27.3)
Further information regarding foreign currency exchange rates and derivatives is included in Management’s Discussion and Analysis of Financial Condition and Results of Operations in our 10-K Report and Note 12 to the Condensed Consolidated Financial Statements in this report.
−Removed: As of September 30, 2022, and December 31, 2021, the fair value of our natural gas commodities contracts was $42.0 million and $18.8 million, respectively.
+Added: As of March 31, 2023, and December 31, 2022, the fair value of our natural gas commodities contracts was $5.1 million and $18.7 million, respectively.
The table below provides information about our natural gas derivatives which are used to manage the risk related to significant price changes in natural gas.
−Removed: (in millions) As of September 30, 2022 As of December 31, 2021
+Added: (in millions) As of March 31, 2023 As of December 31, 2022
Expected Maturity Date Expected Maturity Date
7 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.