EARNINGS PER SHARE
The numerator for basic and diluted earnings per share (“EPS”) is net earnings attributable to Mosaic. The denominator for basic EPS is the weighted average number of shares outstanding during the period. The denominator for diluted EPS also includes the weighted average number of additional common shares that would have been outstanding if the dilutive potential common shares had been issued, unless the shares are anti-dilutive.
The following is a reconciliation of the numerator and denominator for the basic and diluted EPS computations:
 Years Ended December 31,
(in millions)202520242023
Net earnings attributable to Mosaic$540.7 $174.9 $1,164.9 
Basic weighted average number of shares outstanding attributable to common stockholders317.3 319.8 331.3 
Dilutive impact of share-based awards1.6 0.9 1.9 
Diluted weighted average number of shares outstanding318.9 320.7 333.2 
Basic net earnings per share$1.70 $0.55 $3.52 
Diluted net earnings per share$1.70 $0.55 $3.50 
A total of 0.2 million shares for 2025, 1.0 million shares for 2024 and 0.5 million shares for 2023 of common stock subject to issuance related to share-based awards have been excluded from the calculation of diluted EPS because the effect would have been anti-dilutive.

Historical Timeline

Fiscal YearFiled
2025Feb 27, 2026Showing above
2024Mar 3, 2025
2023Feb 22, 2024
2022Feb 23, 2023
2021Feb 23, 2022
2020Feb 22, 2021
2019Feb 20, 2020
2018Mar 13, 2019
2017Feb 21, 2018
2016Feb 15, 2017
2015Feb 19, 2016

About Earnings Per Share Disclosures

The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.

Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.