Business Segments
 3 Months Ended
Mar. 31, 2015
Segment Reporting [Abstract]  
Business Segments
Business Segments
The reportable segments are determined by management based upon factors such as products and services, production processes, technologies, market dynamics, and for which segment financial information is available for our chief operating decision maker. On March 15, 2015, we announced a Realignment of our business segments to more clearly reflect our evolving business model. Our international distribution activities, which had previously been reported in our Phosphates business segment, were moved into a separate International Distribution segment as this is how our chief operating decision maker began viewing and evaluating our operations during the first quarter of 2015. The prior period comparable results have been recast to reflect this change.
For a description of our business segments see Note 1 to the Condensed Consolidated Financial Statements in this report. We evaluate performance based on the operating earnings of the respective business segments, which includes certain allocations of corporate selling, general and administrative expenses. The segment results may not represent the actual results that would be expected if they were independent, stand-alone businesses. Intersegment eliminations, including profit on intersegment sales, mark-to-market gains/losses on derivatives that had previously been reported in our Phosphates and Potash business segments, debt expenses and our legacy Argentina and Chile results are included within Corporate, Eliminations and Other.
Segment information for the three months ended March 31, 2015 and 2014 was as follows:
 
Phosphates
 
Potash
 
International Distribution
 
Corporate, Eliminations and Other
 
Total
Three months ended March 31, 2015
 
 
 
 
 
 
 
 
 
Net sales to external customers
$
1,040.6

 
$
652.4

 
$
438.4

 
$
7.7

 
$
2,139.1

Intersegment net sales(a)
131.7

 
0.4

 
0.5

 
(132.6
)
 
—

Net sales
1,172.3

 
652.8

 
438.9

 
(124.9
)
 
2,139.1

Gross margin(a)
221.8

 
241.9

 
20.6

 
(65.1
)
 
419.2

Operating earnings
190.3

 
204.1

 
2.9

 
(78.8
)
 
318.5

Capital expenditures
128.8

 
94.7

 
3.8

 
2.2

 
229.5

Depreciation, depletion and amortization expense
94.2

 
79.3

 
2.8

 
6.5

 
182.8

 
 
 
 
 
 
 
 
 
 
Three months ended March 31, 2014
 
 
 
 
 
 
 
 
 
Net sales to external customers
$
844.6

 
$
726.4

 
$
392.6

 
$
22.6

 
$
1,986.2

Intersegment net sales(a)
114.3

 
6.9

 
0.2

 
(121.4
)
 
—

Net sales
958.9

 
733.3

 
392.8

 
(98.8
)
 
1,986.2

Gross margin(a)
199.5

 
216.1

 
21.7

 
(25.7
)
 
411.6

Operating earnings
145.9

 
170.1

 
7.8

 
(57.2
)
 
266.6

Capital expenditures
115.5

 
143.9

 
8.0

 
7.5

 
274.9

Depreciation, depletion and amortization expense
79.2

 
86.8

 
2.0

 
6.3

 
174.3

 
 
 
 
 
 
 
 
 
 
Total assets as of March 31, 2015
$
7,613.5

 
$
8,012.5

 
$
1,419.9

 
$
586.0

 
$
17,631.9

Total assets as of December 31, 2014
10,143.1

 
8,296.6

 
1,430.4

 
(1,587.1
)
 
18,283.0



(a) 
Certain intercompany sales within the Phosphates segment are recognized as revenue before the final price is determined. These transactions had the effect of increasing Phosphate segment revenues and gross margin by $87.7 million and $28.7 million, respectively, for the three months ended March 31, 2015. There were no intersegment sales of this type outstanding at March 31, 2014. Profits on these Phosphates sales are eliminated in the "Corporate and Other" category similar to all other intercompany transactions.