Goodwill

3 Months Ended

Mar. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Mosaic had goodwill of $1.1 billion as of March 31, 2020 and $1.2 billion as of December 31, 2019. We review goodwill for impairment annually in October or at any time events or circumstances indicate that the carrying value may not be fully recoverable, which is based on our accounting policy and GAAP. The changes in the carrying amount of goodwill, by reporting unit, are as follows:



	Potash			Mosaic Fertilizantes			Corporate, Eliminations and Other		Total
Balance as of December 31, 2019	$	1,039.8		$	105.0		$	12.1	$	1,156.9
Foreign currency translation	(72.6		)	(7.3		)	—		(79.9		)
Balance as of March 31, 2020	$	967.2		$	97.7		$	12.1	$	1,077.0

Due to a significant decline in the market price of our stock, we performed a review of goodwill as of March 31, 2020. We determined that our Potash reporting unit had an estimated fair value that was not significantly in excess of its carrying value, at 14.2%, and could be at risk of future impairment. We continue to believe that our long-term financial goals will be achieved. Our Mosaic Fertilizantes reporting unit has substantial fair value in excess of its carrying value. Foreign currency rates can impact the carrying value of our Potash and Mosaic Fertilizantes reporting units. We continue to monitor the rates of these reporting units as they could put them at risk of future impairment.

We are required to perform our next annual goodwill impairment analysis as of October 31, 2020. It is possible that, during the remainder of 2020 or beyond, business conditions could deteriorate from the current state, raw material or product price projections could decline significantly from current estimates, we could experience fluctuations in foreign currency exchange rates or our common stock price could decline significantly. If our net sales and cash flow projections are not achieved, or our common stock price continues to decline from the current level, book values of certain operations could exceed their fair values, which may result in goodwill impairment charges in future periods. It is not possible at this time to determine if any such future impairment charge would result or, if it does, whether such charge would be material.