Each one of us contributes to Mosaic's ethical culture not only by what we say, but what we do. Since that culture is the lens through which we see, and are seen by the world at large, it is the key to fostering enduring relationships with our many stakeholders.

Mosaic's transparency efforts have been recognized by our inclusion in Corporate Responsibility Magazine's ranking of the 100 Best Corporate Citizens in the United States in 2009 and 2010. Conducting business in a transparent manner is especially important to us and how we are perceived by the global community.

Policy: Code of Business Conduct and Ethics

Our revised Code of Business Conduct and Ethics applies to all employees, officers and directors of Mosaic. Mosaic employees participated in 7,985 hours of ethics and compliance training during the 2011 reporting period.

Mosaic maintains EthicsPoint, a 24-hour, independently administered, confidential, anonymous and multilingual hotline and website. EthicsPoint allows Mosaic employees to express any concerns they might have about compliance with our Code of Business Conduct and Ethics, as well as other workplace issues, concerns, inquiries and suggestions. The table that follows indicates the total number of EthicsPoint communications received in fiscal 2011 and the pre-investigation categories identified by the individual initiating the communication. All concerns are investigated, and Mosaic ensures any appropriate action is taken in relation to the reported issue.

No matter where in the world Mosaic operates, we abide by the U.S. Foreign Corrupt Practices Act (FCPA). The FCPA prohibits paying, offering or promising money or anything of value to non-U.S. government and political party officials in order to secure, retain or direct business.

During the 2011 reporting period, the Mosaic Phosphates business unit in Florida revised its internal permit application processes and now posts mine permitting plans and revisions in sequence online. Now, stakeholders are able to observe, in a transparent, easy-to-understand way, the changes to the mining and reclamation plans covering a variety of activities, including water use, water discharge, air permits and wildlife management.

Mosaic has disclosed its water and carbon footprints for the past two years through the Carbon Disclosure Project.