cmp-20210929

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): September 29, 2021

Compass Minerals International, Inc.

(Exact name of registrant as specified in its charter)


Delaware	001-31921	36-3972986
(State or other jurisdiction of incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

9900 West 109th Street

Suite 100

Overland Park, KS 66210

(Address of principal executive offices)

(913) 344-9200

(Registrant's telephone number, including area code)

N/A

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol

Name of each exchange on which registered

Common stock, $0.01 par value

CMP

The New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

☐

Item 2.02 Results of Operations and Financial Condition.

Compass Minerals International, Inc. (the “Company”) is providing supplemental financial information, attached as Exhibit 99.1, which includes certain quarterly segment information for its continuing operations for the quarters ended March 31, 2019 through June 30, 2021.

The information contained in Item 2.02 and Exhibit 99.1 of this Current Report on Form 8-K is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.


Exhibit No.						Exhibit Description
99.1						Supplemental quarterly segment information issued by Compass Minerals International, Inc. on September 29, 2021.
104						Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.



	COMPASS MINERALS INTERNATIONAL, INC.

Date: September 29, 2021	By:	/s/ James D. Standen
		Name: James D. Standen
		Title: Chief Financial Officer


			Exhibit 99.1

The following unaudited supplemental financial information includes certain quarterly segment information for the Company’s continuing operations for the quarters ended March 31, 2019 through June 30, 2021.

Quarterly segment information is as follows (unaudited, in millions):


Three Months Ended June 30, 2021	Salt		Plant Nutrition		Corporate & Other(a)		Total
Sales to external customers	$	142.6	$	53.8	$	3.0	$	199.4
Intersegment sales	—		2.5		(2.5)		—
Shipping and handling cost	44.3		7.3		—		51.6
Operating earnings (loss)	19.2		0.7		(19.0)		0.9
Depreciation, depletion and amortization	17.6		9.1		3.3		30.0


Three Months Ended March 31, 2021	Salt		Plant Nutrition		Corporate & Other(a)		Total
Sales to external customers	$	369.0	$	53.7	$	2.8	$	425.5
Intersegment sales	—		0.5		(0.5)		—
Shipping and handling cost	115.4		7.7		—		123.1
Operating earnings (loss)	91.6		5.3		(20.9)		76.0
Depreciation, depletion and amortization	18.0		8.8		3.1		29.9


Three Months Ended December 31, 2020	Salt		Plant Nutrition		Corporate & Other(a)		Total
Sales to external customers	$	228.5	$	78.2	$	2.5	$	309.2
Intersegment sales	—		2.4		(2.4)		—
Shipping and handling cost	63.9		11.8		—		75.7
Operating earnings (loss)	44.5		3.3		(19.7)		28.1
Depreciation, depletion and amortization	17.4		9.0		3.7		30.1


Three Months Ended September 30, 2020	Salt		Plant Nutrition		Corporate & Other(a)		Total
Sales to external customers	$	141.2	$	30.8	$	2.6	$	174.6
Intersegment sales	—		0.3		(0.3)		—
Shipping and handling cost	34.4		4.8		—		39.2
Operating earnings (loss)	26.2		1.1		(16.4)		10.9
Depreciation, depletion and amortization	17.4		9.3		3.8		30.5


Three Months Ended June 30, 2020	Salt		Plant Nutrition		Corporate & Other(a)		Total
Sales to external customers	$	121.9	$	51.0	$	2.3	$	175.2
Intersegment sales	—		2.4		(2.4)		—
Shipping and handling cost	29.7		7.3		—		37.0
Operating earnings (loss)	22.5		6.3		(19.1)		9.7
Depreciation, depletion and amortization	17.2		9.6		3.0		29.8


Three Months Ended March 31, 2020	Salt		Plant Nutrition		Corporate & Other(a)		Total
Sales to external customers	$	287.8	$	55.4	$	2.7	$	345.9
Intersegment sales	—		0.3		(0.3)		—
Shipping and handling cost	89.8		8.6		—		98.4
Operating earnings (loss)	67.8		4.6		(18.1)		54.3
Depreciation, depletion and amortization	14.6		9.8		3.0		27.4


Three Months Ended December 31, 2019	Salt		Plant Nutrition		Corporate & Other(a)		Total
Sales to external customers	$	310.9	$	67.2	$	2.6	$	380.7
Intersegment sales	—		2.0		(2.0)		—
Shipping and handling cost	82.7		9.7		—		92.4
Operating earnings (loss)	75.9		8.7		(17.3)		67.3
Depreciation, depletion and amortization	16.0		10.4		2.6		29.0


Three Months Ended September 30, 2019	Salt		Plant Nutrition		Corporate & Other(a)		Total
Sales to external customers	$	159.6	$	40.9	$	2.3	$	202.8
Intersegment sales	—		1.3		(1.3)		—
Shipping and handling cost	43.4		5.7		—		49.1
Operating earnings (loss)(b)	24.0		4.0		(17.6)		10.4
Depreciation, depletion and amortization	14.3		10.3		2.6		27.2


Three Months Ended June 30, 2019	Salt		Plant Nutrition		Corporate & Other(a)		Total
Sales to external customers	$	112.6	$	44.1	$	2.4	$	159.1
Intersegment sales	—		2.6		(2.6)		—
Shipping and handling cost	37.6		6.1		—		43.7
Operating earnings (loss)(c)	10.0		6.0		(16.5)		(0.5)
Depreciation, depletion and amortization	14.8		10.3		2.8		27.9


Three Months Ended March 31, 2019	Salt		Plant Nutrition		Corporate & Other(a)		Total
Sales to external customers	$	306.4	$	33.7	$	2.4	$	342.5
Intersegment sales	—		0.5		(0.5)		—
Shipping and handling cost	103.7		5.7		—		109.4
Operating earnings (loss)	57.3		—		(14.9)		42.4
Depreciation, depletion and amortization	15.3		10.7		2.5		28.5

(a)Corporate and other includes corporate entities, records management operations and other incidental operations and eliminations. Operating earnings (loss) for corporate and other includes indirect corporate overhead, including costs for general corporate governance and oversight, as well as costs for the human resources, information technology, legal and finance functions. Corporate assets in 2021 include assets under the Company’s AR Facility.

(b)Operating results included $2.3 million of severance and other costs related to executive transition.

(c)Operating results included $2.8 million of additional logistics costs related to Mississippi River flooding.

Quarterly plant nutrition sales volume information is as follows (unaudited, thousands of tons):


	For the Three Months Ended
	March 31,	June 30,	September 30,	December 31,	Total
2021	94	88			182
2020	95	89	53	143	380
2019	56	74	69	116	315