COMPASS MINERALS INTERNATIONAL INCCMP
COMPASS MINERALS INTERNATIONAL INC Segments Disclosure
OPERATING SEGMENTS
The Company’s reportable segments are strategic business units that offer different products and services, and each business requires different technology and marketing strategies. For all periods presented in this Form 10-K, the Company has two reportable segments in its Consolidated Financial Statements: Salt and Plant Nutrition. The Salt segment produces and markets salt, consisting primarily of sodium chloride and magnesium chloride, for use in road deicing for winter roadway safety and for dust control, food processing, water softeners and other consumer, agricultural and industrial applications. The Plant Nutrition segment produces and markets various grades of SOP. The results of operations for the Company’s records management business and former fire retardant business are included in Corporate and Other in the tables below.
The chief operating decision maker (“CODM”) is the Company’s President and Chief Executive Officer. The primary measure of segment profit or loss used by the CODM to regularly evaluate performance, make key operating decisions and determine resource allocation of and among each operating segment is operating income. The CODM assesses segment performance by comparing actual operating income to budgeted and/or forecasted performance, and making decisions such as whether and when to invest resources for future capital expenditures and for general corporate purposes.
Segment operating income is based upon segment sales less expenses attributable to the respective segment. The accounting policies of the segments are the same as those described in the summary of significant accounting policies. All inter-segment sales prices are market-based. The segment operating income also includes the allocable portion of the Company’s Selling, general and administrative expenses, which represents overhead functions such as: finance and accounting, legal, information technology, human resources and other general functions that support the operations of Salt and Plant Nutrition. The unallocated Selling, general and administrative expenses that are not directly attributable to the reportable segments are included in Corporate and Other.
In evaluating segment performance, the CODM regularly reviews several significant segment expenses. For the period’s presented, the significant expenses reviewed by the CODM were Shipping and handling costs, Product costs, Selling, general and administrative expenses, Loss on impairments, and Other operating (income) expense. Other items such as Depreciation, depletion and amortization are also reviewed to provide a comprehensive understanding of segment performance.
Segment information is as follows (in millions):
Fiscal Year Ended September 30, 2025 | Salt | Plant Nutrition | Corporate & Other(a) | Total | ||||||||||||||||||||||
Sales to external customers(b) | $ | 1,022.5 | $ | 206.3 | $ | 15.1 | $ | 1,243.9 | ||||||||||||||||||
| Intersegment sales | — | 12.5 | (12.5) | — | ||||||||||||||||||||||
| Shipping and handling cost | 312.5 | 30.7 | 0.1 | 343.3 | ||||||||||||||||||||||
Product cost | 533.0 | 164.4 | 12.5 | 709.9 | ||||||||||||||||||||||
Gross profit | 177.0 | 11.2 | 2.5 | 190.7 | ||||||||||||||||||||||
Selling, general and administrative expenses(e) | 30.5 | 4.7 | 78.1 | 113.3 | ||||||||||||||||||||||
Loss on impairments(c) | — | — | 53.7 | 53.7 | ||||||||||||||||||||||
Other operating (income) expense(d) | 0.6 | — | (2.2) | (1.6) | ||||||||||||||||||||||
Operating income (loss) | 145.9 | 6.5 | (127.1) | 25.3 | ||||||||||||||||||||||
| Depreciation, depletion and amortization | 70.9 | 28.4 | 3.9 | 103.2 | ||||||||||||||||||||||
| Total assets | 1,038.8 | 363.7 | 116.9 | 1,519.4 | ||||||||||||||||||||||
| Capital expenditures | 53.3 | 12.2 | 4.2 | 69.7 | ||||||||||||||||||||||
Fiscal Year Ended September 30, 2024 | Salt | Plant Nutrition | Corporate & Other(a) | Total | ||||||||||||||||||||||
Sales to external customers(b) | $ | 907.8 | $ | 181.0 | $ | 28.6 | $ | 1,117.4 | ||||||||||||||||||
| Intersegment sales | — | 8.0 | (8.0) | — | ||||||||||||||||||||||
| Shipping and handling cost | 280.1 | 24.6 | 0.6 | 305.3 | ||||||||||||||||||||||
Product cost | 431.8 | 168.3 | 17.0 | 617.1 | ||||||||||||||||||||||
Gross profit | 195.9 | (11.9) | 11.0 | 195.0 | ||||||||||||||||||||||
Selling, general and administrative expenses(e) | 31.3 | 5.4 | 101.1 | 137.8 | ||||||||||||||||||||||
Loss on impairments(c) | — | 68.6 | 122.4 | 191.0 | ||||||||||||||||||||||
Other operating (income) expense(d) | 1.0 | 0.5 | (18.5) | (17.0) | ||||||||||||||||||||||
Operating income (loss) | 163.6 | (86.4) | (194.0) | (116.8) | ||||||||||||||||||||||
| Depreciation, depletion and amortization | 63.4 | 34.1 | 7.5 | 105.0 | ||||||||||||||||||||||
| Total assets | 1,084.5 | 388.1 | 167.5 | 1,640.1 | ||||||||||||||||||||||
| Capital expenditures | 77.2 | 9.9 | 27.1 | 114.2 | ||||||||||||||||||||||
Fiscal Year Ended September 30, 2023 | Salt | Plant Nutrition | Corporate & Other(a) | Total | ||||||||||||||||||||||
Sales to external customers(b) | $ | 1,010.8 | $ | 172.1 | $ | 21.8 | $ | 1,204.7 | ||||||||||||||||||
| Intersegment sales | — | 9.7 | (9.7) | — | ||||||||||||||||||||||
| Shipping and handling cost | 324.5 | 21.4 | 0.2 | 346.1 | ||||||||||||||||||||||
Product cost | 481.3 | 134.2 | 11.1 | 626.6 | ||||||||||||||||||||||
Gross profit | 205.0 | 16.5 | 10.5 | 232.0 | ||||||||||||||||||||||
Selling, general and administrative expenses(e) | 34.5 | 7.0 | 108.7 | 150.2 | ||||||||||||||||||||||
Other operating (income) expense(d) | — | — | 4.4 | 4.4 | ||||||||||||||||||||||
Operating income (loss) | 170.5 | 9.5 | (102.6) | 77.4 | ||||||||||||||||||||||
| Depreciation, depletion and amortization | 58.5 | 32.9 | 7.2 | 98.6 | ||||||||||||||||||||||
| Total assets | 1,050.4 | 473.4 | 293.1 | 1,816.9 | ||||||||||||||||||||||
| Capital expenditures | 71.9 | 29.5 | 52.9 | 154.3 | ||||||||||||||||||||||
Disaggregated revenue by product type is as follows (in millions):
Fiscal Year Ended September 30, 2025 | Salt | Plant Nutrition | Corporate & Other(a) | Total | ||||||||||||||||||||||
| Highway Deicing Salt | $ | 642.7 | $ | — | $ | — | $ | 642.7 | ||||||||||||||||||
| Consumer & Industrial Salt | 379.8 | — | — | 379.8 | ||||||||||||||||||||||
| SOP | — | 218.8 | — | 218.8 | ||||||||||||||||||||||
| Eliminations & Other | — | (12.5) | 15.1 | 2.6 | ||||||||||||||||||||||
| Sales to external customers | $ | 1,022.5 | $ | 206.3 | $ | 15.1 | $ | 1,243.9 | ||||||||||||||||||
Fiscal Year Ended September 30, 2024 | Salt | Plant Nutrition | Corporate & Other(a) | Total | ||||||||||||||||||||||
| Highway Deicing Salt | $ | 546.4 | $ | — | $ | — | $ | 546.4 | ||||||||||||||||||
| Consumer & Industrial Salt | 361.4 | — | — | 361.4 | ||||||||||||||||||||||
| SOP | — | 189.0 | — | 189.0 | ||||||||||||||||||||||
| Fire Retardant Products | — | — | 14.2 | 14.2 | ||||||||||||||||||||||
| Revenue from Services | — | — | 0.5 | 0.5 | ||||||||||||||||||||||
| Eliminations & Other | — | (8.0) | 13.9 | 5.9 | ||||||||||||||||||||||
| Sales to external customers | $ | 907.8 | $ | 181.0 | $ | 28.6 | $ | 1,117.4 | ||||||||||||||||||
Fiscal Year Ended September 30, 2023 | Salt | Plant Nutrition | Corporate & Other(a) | Total | ||||||||||||||||||||||
| Highway Deicing Salt | $ | 641.7 | $ | — | $ | — | $ | 641.7 | ||||||||||||||||||
| Consumer & Industrial Salt | 369.1 | — | — | 369.1 | ||||||||||||||||||||||
| SOP | — | 181.8 | — | 181.8 | ||||||||||||||||||||||
Fire Retardant Products | — | — | 8.6 | 8.6 | ||||||||||||||||||||||
Revenue from Services | — | — | 1.8 | 1.8 | ||||||||||||||||||||||
| Eliminations & Other | — | (9.7) | 11.4 | 1.7 | ||||||||||||||||||||||
| Sales to external customers | $ | 1,010.8 | $ | 172.1 | $ | 21.8 | 1,204.7 | |||||||||||||||||||
(a)Corporate and Other includes corporate entities, records management operations, Fortress, equity method investments, prior year lithium-related costs and other incidental operations and eliminations. Operating income (loss) for corporate and other includes indirect corporate overhead, including costs for general corporate governance and oversight, prior year lithium-related expenses, as well as costs for the human resources, information technology, legal and finance functions.
(b)Sales to external customers are net of intersegment sales.
(c)The Company recorded loss on impairments of $53.7 million and $193.4 million (inclusive of the $2.4 million impairment of Fortress related inventory included in Product costs), for the fiscal years ended September 30, 2025 and September 30, 2024, respectively, which impacted operating results. Refer to Note 2. Summary of Significant Accounting Policies for additional information regarding the loss on impairments of Plant Nutrition, Fortress, and lithium development assets.
(d)Corporate and Other operating results were impacted by net gains of $7.9 million, $22.1 million and $0.8 million, recorded in Other operating (income) expense, related to the decline in the valuation of the Fortress contingent consideration for the fiscal years ended September 30, 2025, September 30, 2024 and September 30, 2023, respectively.
(e)The Company continued to take steps to align its cost structure to its current business needs. These initiatives impacted Corporate and Other operating results and resulted in net severance and related charges, excluding stock-based compensation forfeitures, for reductions in workforce, changes to executive leadership and additional restructuring costs related to the termination of the Company’s lithium development project recorded in Other operating (income) expense of $4.3 million, $15.8 million and $5.5 million for the fiscal years ended September 30, 2025, September 30, 2024 and September 30, 2023, respectively.
Financial information relating to the Company’s operations by geographic area is as follows (in millions):
| Fiscal Year Ended | ||||||||||||||||||||
| Sales | September 30, 2025 | September 30, 2024 | September 30, 2023 | |||||||||||||||||
United States(a) | $ | 875.3 | $ | 825.0 | $ | 860.4 | ||||||||||||||
| Canada | 288.6 | 234.7 | 269.7 | |||||||||||||||||
| United Kingdom | 65.9 | 50.7 | 66.1 | |||||||||||||||||
| Other | 14.1 | 7.0 | 8.5 | |||||||||||||||||
| Total sales | $ | 1,243.9 | $ | 1,117.4 | $ | 1,204.7 | ||||||||||||||
(a)United States sales exclude product sold to foreign customers at U.S. ports.
Financial information relating to the Company’s long-lived assets, excluding the investments related to the non-qualified retirement plan and pension plan assets, by geographic area (in millions):
| Long-Lived Assets | September 30, 2025 | September 30, 2024 | September 30, 2023 | |||||||||||||||||
| United States | $ | 495.2 | $ | 580.9 | $ | 741.7 | ||||||||||||||
| Canada | 373.9 | 392.6 | 398.0 | |||||||||||||||||
| United Kingdom | 66.9 | 67.5 | 64.2 | |||||||||||||||||
| Other | 6.5 | 6.5 | 7.7 | |||||||||||||||||
| Total long-lived assets | $ | 942.5 | $ | 1,047.5 | $ | 1,211.6 | ||||||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Dec 12, 2025 | Showing above |
| 2024 | Dec 16, 2024 | |
| 2023 | Nov 29, 2023 | |
| 2022 | Dec 14, 2022 | |
| 2020 | Feb 26, 2021 | |
| 2019 | Feb 26, 2020 | |
| 2018 | Mar 1, 2019 | |
| 2017 | Feb 27, 2018 | |
| 2016 | Mar 1, 2017 | |
| 2015 | Feb 22, 2016 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.