The Mosaic Company announced unaudited consolidated earnings results for the second quarter and six months ended November 30, 2012. For the quarter, the company reported net sales of $2,536.2 million against $3,014.5 million a year ago. Operating earnings were $559.6 million against $797.0 million a year ago. The year-over-year decline in operating earnings was primarily driven by lower phosphate volumes and margins. Earnings from consolidated companies before income taxes were $547.5 million against $855.4 million a year ago. Earnings from consolidated companies were $625.6 million against $624.7 million a year ago. Net earnings attributable to the company were $628.8 million or $1.47 per diluted share against net earnings attributable to the company of $623.6 million or $1.40 per diluted share a year ago. Net cash provided by operating activities was $322.4 million against $517.7 million a year ago. Capital expenditures were $393.5 million against $387.1 million a year ago. Net sales were down, driven by lower phosphate and potash volumes and lower phosphate prices. Normalized earnings from consolidated companies were $419.9 million. Normalized net earnings attributable to Mosaic were $423.1 million or $0.99 per diluted share.

For the six months, the company reported net sales of $5,041.3 million against $6,097.8 million a year ago. Operating earnings were $1,169.8 million against $1,526.6 million a year ago. Earnings from consolidated companies before income taxes were $1,134.3 million against $1,585.1 million a year ago. Earnings from consolidated companies were $1,049.1 million against $1,149.3 million a year ago. Net earnings attributable to the company were $1,058.2 million or $2.48 per diluted share against net earnings attributable to the company of $1,149.6 million or $2.58 per basic and diluted share a year ago. Net cash provided by operating activities was $661.7 million against $1,072.0 million a year ago. Capital expenditures were $842.6 million against $778.5 million a year ago.