\nUS$M\n<\/p>\n
\nEx. per share data\n<\/p>\n<\/td>\n
\n2Q’21\n<\/p>\n<\/td>\n
\n2Q’20\n<\/p>\n<\/td>\n
\nYoY
\n
Change\n<\/p>\n<\/td>\n<\/tr>\n
\nSales\n<\/p>\n<\/td>\n
\n$1,617\n<\/p>\n<\/td>\n
\n$1,203\n<\/p>\n<\/td>\n
\n34%\n<\/p>\n<\/td>\n<\/tr>\n
\nGross profit\n<\/p>\n<\/td>\n
\n$570\n<\/p>\n<\/td>\n
\n$320\n<\/p>\n<\/td>\n
\n78%\n<\/p>\n<\/td>\n<\/tr>\n
\nGross margin\n<\/p>\n<\/td>\n
\n35.3%\n<\/p>\n<\/td>\n
\n26.6%\n<\/p>\n<\/td>\n
\n870 bps\n<\/p>\n<\/td>\n<\/tr>\n
\nOperating income\n<\/p>\n<\/td>\n
\n$243\n<\/p>\n<\/td>\n
\n($169)\n<\/p>\n<\/td>\n
\nn\/m\n<\/p>\n<\/td>\n<\/tr>\n
\nOperating margin\n<\/p>\n<\/td>\n
\n15.0%\n<\/p>\n<\/td>\n
\n(14.0)%\n<\/p>\n<\/td>\n
\n2,900 bps\n<\/p>\n<\/td>\n<\/tr>\n
\nNet income attributable to shareholders\n<\/p>\n<\/td>\n
\n$140\n<\/p>\n<\/td>\n
\n($168)\n<\/p>\n<\/td>\n
\nn\/m\n<\/p>\n<\/td>\n<\/tr>\n
\nEBITDA*\n<\/p>\n<\/td>\n
\n$351\n<\/p>\n<\/td>\n
\n$246\n<\/p>\n<\/td>\n
\n43%\n<\/p>\n<\/td>\n<\/tr>\n
\nEBITDA margin\n<\/p>\n<\/td>\n
\n21.7%\n<\/p>\n<\/td>\n
\n20.4%\n<\/p>\n<\/td>\n
\n130 bps\n<\/p>\n<\/td>\n<\/tr>\n
\nDiluted earnings (loss) per share\n<\/p>\n<\/td>\n
\n11\u00a2\n<\/p>\n<\/td>\n
\n(13\u00a2)\n<\/p>\n<\/td>\n
\nn\/m\n<\/p>\n<\/td>\n<\/tr>\n
\nDividend per share\n<\/p>\n<\/td>\n
\n5.26\u00a2\n<\/p>\n<\/td>\n
\n2.80\u00a2\n<\/p>\n<\/td>\n
\n88%\n<\/p>\n<\/td>\n<\/tr>\n
\nCash flows from operating activities\n<\/p>\n<\/td>\n
\n$242\n<\/p>\n<\/td>\n
\n$177\n<\/p>\n<\/td>\n
\n37%\n<\/p>\n<\/td>\n<\/tr>\n
* EBITDA is a non-GAAP financial measure; see reconciliation tables in appendix.<\/i><\/p>\n<\/td>\n<\/tr>\n<\/table>\n
Industrial Products<\/b><\/p>\n
\nSecond quarter 2021\n<\/p>\n
- \n
- \nRecord sales of $410 million were up $125 million or 44%.\n<\/li>\n
- \nRecord segment profit of $114 million was up $44 million or 63%.\n<\/li>\n
- \nRecord EBITDA of $128 million was up $40 million or 45%.\n<\/li>\n
- \nWhile the company was able to offset higher freight rates and raw material prices, which continued to increase during the quarter, raw material constraints limited production quantities.\n<\/li>\n<\/ul>\n
\nHighlights\n<\/p>\n
- \n
- \nElemental bromine: Sales were up on higher prices, as market prices in China continued to increase, due to higher demand for flame retardants and limited local supply.\n<\/li>\n
- \nBromine-based flame retardants: Sales were up, with continued demand for consumer electronics, strength in automotive end-markets, and as the strategic shift to long-term contracts continued.\n<\/li>\n
- \nClear brine fluids: Sales were up, as some regions saw improved demand, due to the rising price of oil. Overall demand trends remained under pressure and have not returned to pre-COVID levels, as oil and gas drilling activities in the Gulf of Mexico and the Mediterranean have not recovered.\n<\/li>\n
- \nPhosphorus-based flame retardants: Sales were up, with strong demand from the construction industry, especially in Europe and North America.\n<\/li>\n
- \nSpecialty minerals: Results were driven by record magnesia-based sales, higher prices, and strong demand from the supplements and pharmaceuticals end markets.\n<\/li>\n<\/ul>\n
Potash<\/b><\/p>\n
\nSecond quarter 2021\n<\/p>\n
- \n
- \nSales of $412 million were up $72 million or 21%.\n<\/li>\n
- \nSegment profit of $43 million was up $5 million or 13%.\n<\/li>\n
- \nEBITDA of $85 million was up $5 million or 6%.\n<\/li>\n
- \nGrain Price Index increased year-over-year, with corn up 100.9%, soybeans up 53.8% and wheat up 42.5%, due to strong global demand, which supported higher potash prices.\n<\/li>\n
- \nAverage potash realized price per ton of $281 was up approximately 25% year-over-year, with recent price increases expected to have a significant impact in the second half of the year.\n<\/li>\n
- \nBusiness at capacity, due to continued good environment, with tight supply.\n<\/li>\n<\/ul>\n
\nHighlights\n<\/p>\n
- \n
- \nICL Dead Sea<\/p>\n
- \n
- \nAs expected, production declined year-over-year, following the successful annual one-week maintenance shutdown completed in early April.\n<\/li>\n<\/ul>\n<\/li>\n
- \nICL Iberia<\/p>\n
- \n
- \nProduction was down year-over-year, due to the shutdown for the commissioning of the ramp connecting the Cabanasses mine and the Suria plant, which began in late March and continued through April. The project is expected to increase the mine\u2019s capacity, with the annual run rate projected to reach approximately 1 million tons by the beginning of 2022.\n<\/li>\n<\/ul>\n<\/li>\n
- \nICL Boulby<\/p>\n
- \n
- \nPolysulphate production was up 5% year-over-year to ~193,000 tons, while sales volume was up 40% year-over-year to ~183,000 tons.\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n
Phosphate Solutions<\/b><\/p>\n
\nSecond quarter 2021\n<\/p>\n
- \n
- \nRecord sales of $623 million were up $184 million or 42%.<\/p>\n
- \n
- \nPhosphate specialties: Record sales of $328 million, up $55 million or 20%.\n<\/li>\n
- \nPhosphate commodities: Record sales of $295 million, up $129 million or 78%.\n<\/li>\n<\/ul>\n<\/li>\n
- \nRecord segment profit of $77 million was up $69 million, due to a significant increase in market prices and strong volumes.\n<\/li>\n
- \nRecord EBITDA of $134 million was up $74 million for an increase of more than 120%.<\/p>\n
- \n
- \nPhosphate specialties: Record EBITDA of $50 million, up $6 million or 14%.\n<\/li>\n
- \nPhosphate commodities: Record EBITDA of $84 million, up $68 million or 425%.\n<\/li>\n<\/ul>\n<\/li>\n
- \nThe YPH joint venture delivered year-over-year improvement in results, due to increased volumes, higher commodity prices, and continued efficiency improvements.\n<\/li>\n
- \nCommodity market price improvement continued in the second quarter, along with increased prices for raw materials, mainly sulfur, as well as higher freight costs and supply chain challenges.\n<\/li>\n<\/ul>\n
\nHighlights\n<\/p>\n
- \n
- \nPhosphate salts: Sales were up significantly, with higher sales of both food grade phosphates and industrial salts.<\/p>\n
- \n
- \nFood phosphates: Strong volume momentum in North America, combined with higher global prices, drove year-over-year improvement. Food service began to recover, and retail demand remained strong, while product innovation and integrated solutions also contributed.\n<\/li>\n
- \nIndustrial salts: Sales were up, due to higher demand in most regions and industries, and as the institutional cleaning end-market started to show signs of improvement.\n<\/li>\n<\/ul>\n<\/li>\n
- \nWhite phosphoric acid: Sales were up appreciably, driven by increased volumes in all regions, especially South America, and higher prices in all regions.\n<\/li>\n
- \nDairy protein: Sales were up, despite slower growth in Asia Pacific, due to a continued focus on maintaining the company\u2019s global leadership position in the organic cow and goat ingredients market.\n<\/li>\n
- \nPhosphate fertilizers: Sales were up, driven by higher volumes and as prices continued to surge \u2013 especially in the U.S. and Brazil \u2013 while raw material prices and freight costs also increased.\n<\/li>\n<\/ul>\n
Innovative Ag Solutions<\/b><\/p>\n
\nSecond quarter 2021\n<\/p>\n
- \n
- \nSales of $237 million were up $41 million or 21%.\n<\/li>\n
- \nRecord segment profit of $20 million was up $5 million or 33%, even with higher raw material prices and freight rates.\n<\/li>\n
- \nRecord EBITDA of $27 million was up $5 million or 23%.\n<\/li>\n
- \nAll products lines showed year-over-year growth, due to higher prices, increased volumes and positive exchange rate impact.\n<\/li>\n<\/ul>\n
\nHighlights\n<\/p>\n
- \n
- \nSpecialty agriculture: Solid sales growth \u2013 due to higher volumes of straights, liquid and controlled-release fertilizers \u2013 mainly in Europe, China, and North and South America.\n<\/li>\n
- \nTurf and ornamental: Record results, with all geographies showing growth \u2013 especially new markets. Higher volumes and selling prices translated into higher profit, despite raw material price pressure.\n<\/li>\n
- \nOn July 1, the company announced it had completed the acquisition of the South American Plant Nutrition business from Compass Minerals for approximately US$420 million. The acquisition is expected to position ICL as the leading specialty plant nutrition company in Brazil and to provide further seasonal balance between the Northern and Southern hemispheres.\n<\/li>\n<\/ul>\n
Financial Items<\/b><\/p>\n
\nFinancing Expenses\n<\/p>\n
\nNet financing expenses for the second quarter of 2021 were $30 million, similar to the $31 million in the same quarter of last year.\n<\/p>\n
\nTax Expenses\n<\/p>\n
\nTax expenses in the second quarter of 2021 were $64 million, reflecting an effective tax rate of 30%, versus tax income of $33 million the prior year. The higher than usual effective tax rate was mainly due to the strengthening of the Israeli Shekel during the quarter, changes in deferred tax balances due to higher profitability, and, to a lesser degree, provisions for taxes in Brazil, which has a tax rate higher than the corporate average.\n<\/p>\n
\nLiquidity and Capital Resources\n<\/p>\n
\nICL has long-term credit facilities of $1,100 million, of which $273 million were utilized as of June 30, 2021.\n<\/p>\n
\nOutstanding Net Debt\n<\/p>\n
\nAs of June 30, 2021, ICL\u2019s net financial liabilities amounted to $2,432 million, an increase of $14 million compared to December 31, 2020.\n<\/p>\n
\nDividend Distribution\n<\/p>\n
\nIn connection with ICL\u2019s second quarter 2021 results, the Board of Directors declared a dividend of 5.26 cents per share, or approximately $68 million, which will be payable on September 1, 2021, to shareholders of record as of August 18, 2021.\n<\/p>\n
About ICL<\/b><\/p>\n
\nICL Group is a leading global specialty minerals company, which also benefits from commodity upside. The company creates impactful solutions for humanity’s sustainability challenges in global food, agriculture and industrial markets. ICL leverages its unique bromine, potash and phosphate resources, its passionate team of talented employees, and its strong focus on R&D and technological innovation to drive growth across its end markets. ICL shares are dually listed on the New York Stock Exchange and the Tel Aviv Stock Exchange (NYSE and TASE: ICL). The company employs more than 12,000 people worldwide, and its 2020 revenues totaled approximately $5.0 billion.\n<\/p>\n
\nFor more information, visit ICL’s website at www.icl-group.com<\/a>.\n<\/p>\n
\nTo access ICL’s interactive Corporate Social Responsibility report, please click here<\/a>.\n<\/p>\n
\nYou can also learn more about ICL on Facebook<\/a>, LinkedIn<\/a> and Instagram<\/a>.\n<\/p>\n
Guidance<\/b><\/p>\n
\n(1a) The company only provides guidance on a non-GAAP basis. The company does not provide a reconciliation of forward-looking adjusted EBITDA (non-GAAP) to GAAP net income (loss), due to the inherent difficulty in forecasting and quantifying certain amounts that are necessary for such reconciliation, in particular because special items such as restructuring, litigation and other matters, used to calculate projected net income (loss) vary dramatically based on actual events, the company is not able to forecast on a GAAP basis with reasonable certainty all deductions needed in order to provide a GAAP calculation of projected net income (loss) at this time. The amount of these deductions may be material and, therefore, could result in projected GAAP net income (loss) being materially less than projected adjusted EBITDA (non-GAAP). The guidance speaks only as of the date hereof. We undertake no obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this news release or to reflect actual outcomes, unless required by law.\n<\/p>\n
Non-GAAP Statement<\/b><\/p>\n
\nThe company discloses in this quarterly announcement non-IFRS financial measures titled adjusted operating income, adjusted net income attributable to the company\u2019s shareholders, diluted adjusted earnings per share and adjusted EBITDA. The management uses adjusted operating income, adjusted net income attributable to the company\u2019s shareholders, diluted adjusted earnings per share and adjusted EBITDA to facilitate operating performance comparisons from period to period. The company calculates adjusted operating income by adjusting operating income to add certain items, as set forth in the reconciliation table under adjustments to reported operating and net income (non-GAAP). Certain of these items may recur. The company calculates adjusted net income attributable to the company\u2019s shareholders by adjusting net income attributable to the company\u2019s shareholders to add certain items, as set forth in the reconciliation table under adjustments to reported operating and net income (non-GAAP), excluding the total tax impact of such adjustments. The company calculates diluted adjusted earnings per share by dividing adjusted net income by the weighted-average number of diluted ordinary shares outstanding. The company calculates adjusted EBITDA by adding back to the net income attributable to the company\u2019s shareholders the depreciation and amortization, financing expenses, net, taxes on income and the items presented in the reconciliation table under consolidated adjusted EBITDA and diluted adjusted earnings per share for the periods of activity (non-GAAP), which were adjusted for in calculating the adjusted operating income and adjusted net income attributable to the company\u2019s shareholders. Other companies may calculate similarly titled non\u2011IFRS financial measures differently than the company.\n<\/p>\n
\nYou should not view adjusted operating income, adjusted net income attributable to the company\u2019s shareholders, diluted adjusted earnings per share or adjusted EBITDA as a substitute for operating income or net income attributable to the company\u2019s shareholders determined in accordance with IFRS, and you should note that the definitions of adjusted operating income, adjusted net income attributable to the company\u2019s shareholders, diluted adjusted earnings per share and adjusted EBITDA may differ from those used by other companies. Additionally, other companies may use other measures to evaluate their performance, which may reduce the usefulness of ICL\u2019s non-IFRS financial measures as tools for comparison. However, the company believes adjusted operating income, adjusted net income attributable to the company\u2019s shareholders, diluted adjusted earnings per share and adjusted EBITDA provide useful information to both management and investors by excluding certain items management believes are not indicative of ongoing operations. Management uses these non-IFRS measures to evaluate the company’s business strategies and management’s performance. The company believes these non\u2011IFRS measures provide useful information to investors because they improve the comparability of financial results between periods and provide for greater transparency of key measures used to evaluate performance.\n<\/p>\n
\nThe company presents a discussion in the period-to-period comparisons of the primary drivers of changes in the results of operations. This discussion is based in part on management\u2019s best estimates of the impact of the main trends on its businesses. The company has based the following discussion on its financial statements. You should read such discussion together with the financial statements.\n<\/p>\n
Forward Looking Statements<\/b><\/p>\n
\nThis announcement contains statements that constitute forward\u2011looking statements, many of which can be identified by the use of forward\u2011looking words such as anticipate, believe, could, expect, should, plan, intend, estimate, strive, forecast, target, and potential, among others.\n<\/p>\n
\nForward\u2011looking statements appear in a number of places in this announcement and include, but are not limited to, our 2021 adjusted EBITDA guidance, statements regarding our intent, belief or current expectations. Forward\u2011looking statements are based on our management\u2019s beliefs and assumptions and on information currently available to our management. Such statements are subject to risks and uncertainties, and the actual results may differ materially from those expressed or implied in the forward\u2011looking statements due to various factors, including, but not limited to:\n<\/p>\n
\nChanges in exchange rates or prices compared to those we are currently experiencing; loss or impairment of business licenses or mineral extractions permits or concessions; volatility of supply and demand and the impact of competition; the difference between actual reserves and our reserve estimates; natural disasters; failure to harvest salt, which could lead to accumulation at the bottom of evaporation Pond 5 in the Dead Sea; construction of a new pumping station; disruptions at our seaport shipping facilities or regulatory restrictions affecting our ability to export our products overseas; general market, political or economic conditions in the countries in which we operate; price increases or shortages with respect to our principal raw materials; delays in the completion of major projects by third party contractors and\/or termination of engagements with contractors and\/or governmental obligations; the inflow of significant amounts of water into the Dead Sea could adversely affect production at our plants; labor disputes, slowdowns and strikes involving our employees; pension and health insurance liabilities; the ongoing COVID-19 pandemic, which has impacted, and may continue to impact our sales, operating results and business operations by disrupting our ability to purchase raw materials, by negatively impacting the demand and pricing for some of our products, by disrupting our ability to sell and\/or distribute products, impacting customers’ ability to pay us for past or future purchases and\/or temporarily closing our facilities or the facilities of our suppliers or customers and their contract manufacturers, or restricting our ability to travel to support our sites or our customers around the world; changes to governmental incentive programs or tax benefits, creation of new fiscal or tax related legislation; changes in our evaluations and estimates, which serve as a basis for the recognition and manner of measurement of assets and liabilities; higher tax liabilities; failure to integrate or realize expected benefits from mergers and acquisitions, organizational restructuring and joint ventures; currency rate fluctuations; rising interest rates; government examinations or investigations; disruption of our, or our service providers’, information technology systems or breaches of our, or our service providers’, data security; failure to retain and\/or recruit key personnel; inability to realize expected benefits from our cost reduction program according to the expected timetable; inability to access capital markets on favorable terms; cyclicality of our businesses; changes in demand for our fertilizer products due to a decline in agricultural product prices, lack of available credit, weather conditions, government policies or other factors beyond our control; sales of our magnesium products being affected by various factors that are not within our control; our ability to secure approvals and permits from the authorities in Israel to continue our phosphate mining operations in Rotem; volatility or crises in the financial markets; uncertainties surrounding the proposed withdrawal of the United Kingdom from the European Union; hazards inherent to mining and chemical manufacturing; the failure to ensure the safety of our workers and processes; cost of compliance with environmental, regulatory, legislative, and licensing restrictions; laws and regulations related to, and physical impacts of climate change and greenhouse gas emissions; litigation, arbitration and regulatory proceedings; exposure to third party and product liability claims; product recalls or other liability claims as a result of food safety and food-borne illness concerns; insufficiency of insurance coverage; closing of transactions, mergers and acquisitions; war or acts of terror and\/or political, economic and military instability in Israel and its region; filing of class actions and derivative actions against the Company, its executives and Board members; the company is exposed to risks relating to its current and future activity in emerging markets; and other risk factors discussed under Item 3 – Key Information – D. Risk Factors in the company’s annual report on Form 20-F for the year ended December 31, 2020, filed with the U.S. Securities and Exchange Commission (SEC) on March 2, 2021 (the Annual Report).\n<\/p>\n
\nForward\u2011looking statements speak only as of the date they are made, and the company does not undertake any obligation to update them in light of new information or future developments or to release publicly any revisions to these statements in order to reflect later events or circumstances or to reflect the occurrence of unanticipated events.\n<\/p>\n
\nThis announcement for the second quarter of 2021 (herein after the quarterly announcement) should be read in conjunction with the annual report, including the description of the events occurring subsequent to the date of the statement of financial position, as filed with the SEC.\n<\/p>\n
Appendix<\/b><\/p>\n
\n
\n \n Condensed Consolidated Statements of Income (Unaudited) <\/b><\/p>\n<\/td>\n
\n \n \n \n <\/tr>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n \n <\/tr>\n \n $ millions<\/b><\/td>\n \n Three-months ended<\/b><\/p>\n<\/td>\n
\n \n Six-months ended<\/b><\/p>\n<\/td>\n
\n \n Year ended<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \n June 30,
\n
2021<\/b><\/p>\n<\/td>\n\n \n June 30,
\n
2020<\/b><\/p>\n<\/td>\n\n \n June 30,
\n
2021<\/b><\/p>\n<\/td>\n\n \n June 30,
\n
2020<\/b><\/p>\n<\/td>\n\n \n December 31,
\n
2020<\/b><\/p>\n<\/td>\n<\/tr>\n\n \n \nSales\n<\/p>\n<\/td>\n
\n 1,617<\/b><\/p>\n<\/td>\n
\n \n \n1,203\n<\/p>\n<\/td>\n
\n \n \n3,127\n<\/p>\n<\/td>\n
\n \n \n2,522\n<\/p>\n<\/td>\n
\n \n \n5,043\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nCost of sales\n<\/p>\n<\/td>\n
\n 1,047<\/b><\/p>\n<\/td>\n
\n \n \n883\n<\/p>\n<\/td>\n
\n \n \n2,062\n<\/p>\n<\/td>\n
\n \n \n1,802\n<\/p>\n<\/td>\n
\n \n \n3,553\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Gross profit<\/b><\/p>\n<\/td>\n
\n 570<\/b><\/p>\n<\/td>\n
\n \n \n320\n<\/p>\n<\/td>\n
\n \n \n1,065\n<\/p>\n<\/td>\n
\n \n \n720\n<\/p>\n<\/td>\n
\n \n \n1,490\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nSelling, transport and marketing expenses\n<\/p>\n<\/td>\n
\n 246<\/b><\/p>\n<\/td>\n
\n \n \n183\n<\/p>\n<\/td>\n
\n \n \n475\n<\/p>\n<\/td>\n
\n \n \n371\n<\/p>\n<\/td>\n
\n \n \n766\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nGeneral and administrative expenses\n<\/p>\n<\/td>\n
\n 67<\/b><\/p>\n<\/td>\n
\n \n \n56\n<\/p>\n<\/td>\n
\n \n \n129\n<\/p>\n<\/td>\n
\n \n \n120\n<\/p>\n<\/td>\n
\n \n \n232\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nResearch and development expenses\n<\/p>\n<\/td>\n
\n 14<\/b><\/p>\n<\/td>\n
\n \n \n10\n<\/p>\n<\/td>\n
\n \n \n29\n<\/p>\n<\/td>\n
\n \n \n24\n<\/p>\n<\/td>\n
\n \n \n54\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nOther expenses\n<\/p>\n<\/td>\n
\n 25<\/b><\/p>\n<\/td>\n
\n \n \n244\n<\/p>\n<\/td>\n
\n \n \n30\n<\/p>\n<\/td>\n
\n \n \n246\n<\/p>\n<\/td>\n
\n \n \n256\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nOther income\n<\/p>\n<\/td>\n
\n (25)<\/b><\/p>\n<\/td>\n
\n \n \n(4)\n<\/p>\n<\/td>\n
\n \n \n(26)\n<\/p>\n<\/td>\n
\n \n \n(4)\n<\/p>\n<\/td>\n
\n \n \n(20)\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Operating income (loss)<\/b><\/p>\n<\/td>\n
\n 243<\/b><\/p>\n<\/td>\n
\n \n \n(169)\n<\/p>\n<\/td>\n
\n \n \n428\n<\/p>\n<\/td>\n
\n \n \n(37)\n<\/p>\n<\/td>\n
\n \n \n202\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nFinance expenses\n<\/p>\n<\/td>\n
\n 64<\/b><\/p>\n<\/td>\n
\n \n \n54\n<\/p>\n<\/td>\n
\n \n \n62\n<\/p>\n<\/td>\n
\n \n \n88\n<\/p>\n<\/td>\n
\n \n \n219\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nFinance income\n<\/p>\n<\/td>\n
\n (34)<\/b><\/p>\n<\/td>\n
\n \n \n(23)\n<\/p>\n<\/td>\n
\n \n \n(12)\n<\/p>\n<\/td>\n
\n \n \n(5)\n<\/p>\n<\/td>\n
\n \n \n(61)\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Finance expenses, net<\/b><\/p>\n<\/td>\n
\n 30<\/b><\/p>\n<\/td>\n
\n \n \n31\n<\/p>\n<\/td>\n
\n \n \n50\n<\/p>\n<\/td>\n
\n \n \n83\n<\/p>\n<\/td>\n
\n \n \n158\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nShare in earnings of equity-accounted investees\n<\/p>\n<\/td>\n
\n 1<\/b><\/p>\n<\/td>\n
\n \n \n1\n<\/p>\n<\/td>\n
\n \n \n1\n<\/p>\n<\/td>\n
\n \n \n2\n<\/p>\n<\/td>\n
\n \n \n5\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Income (loss) before income taxes<\/b><\/p>\n<\/td>\n
\n 214<\/b><\/p>\n<\/td>\n
\n \n \n(199)\n<\/p>\n<\/td>\n
\n \n \n379\n<\/p>\n<\/td>\n
\n \n \n(118)\n<\/p>\n<\/td>\n
\n \n \n49\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nProvision for income taxes\n<\/p>\n<\/td>\n
\n 64<\/b><\/p>\n<\/td>\n
\n \n \n(33)\n<\/p>\n<\/td>\n
\n \n \n87\n<\/p>\n<\/td>\n
\n \n \n(13)\n<\/p>\n<\/td>\n
\n \n \n25\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Net income (loss)<\/b><\/p>\n<\/td>\n
\n 150<\/b><\/p>\n<\/td>\n
\n \n \n(166)\n<\/p>\n<\/td>\n
\n \n \n292\n<\/p>\n<\/td>\n
\n \n \n(105)\n<\/p>\n<\/td>\n
\n \n \n24\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nNet income attributable to the non-controlling interests\n<\/p>\n<\/td>\n
\n 10<\/b><\/p>\n<\/td>\n
\n \n \n2\n<\/p>\n<\/td>\n
\n \n \n17\n<\/p>\n<\/td>\n
\n \n \n3\n<\/p>\n<\/td>\n
\n \n \n13\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Net income (loss) attributable to the shareholders of the Company<\/b><\/p>\n<\/td>\n
\n 140<\/b><\/p>\n<\/td>\n
\n \n \n(168)\n<\/p>\n<\/td>\n
\n \n \n275\n<\/p>\n<\/td>\n
\n \n \n(108)\n<\/p>\n<\/td>\n
\n \n \n11\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Earnings per share attributable to the shareholders of the Company:<\/b><\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nBasic earnings (loss) per share (in dollars)\n<\/p>\n<\/td>\n
\n 0.11<\/b><\/p>\n<\/td>\n
\n \n \n(0.13)\n<\/p>\n<\/td>\n
\n \n \n0.22\n<\/p>\n<\/td>\n
\n \n \n(0.08)\n<\/p>\n<\/td>\n
\n \n \n0.01\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nDiluted earnings (loss) per share (in dollars)\n<\/p>\n<\/td>\n
\n 0.11<\/b><\/p>\n<\/td>\n
\n \n \n(0.13)\n<\/p>\n<\/td>\n
\n \n \n0.22\n<\/p>\n<\/td>\n
\n \n \n(0.08)\n<\/p>\n<\/td>\n
\n \n \n0.01\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Weighted-average number of ordinary shares outstanding:<\/b><\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nBasic (in thousands)\n<\/p>\n<\/td>\n
\n 1,281,977<\/b><\/p>\n<\/td>\n
\n \n \n1,280,524\n<\/p>\n<\/td>\n
\n \n \n1,281,192\n<\/p>\n<\/td>\n
\n \n \n1,279,977\n<\/p>\n<\/td>\n
\n \n \n1,280,026\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nDiluted (in thousands)\n<\/p>\n<\/td>\n
\n 1,285,658<\/b><\/p>\n<\/td>\n
\n \n \n1,280,721\n<\/p>\n<\/td>\n
\n \n \n1,284,873\n<\/p>\n<\/td>\n
\n \n \n1,280,175\n<\/p>\n<\/td>\n
\n \n \n1,280,273\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n
\n
\n \n Condensed Consolidated Statements of Financial Position as of (Unaudited) <\/b><\/p>\n<\/td>\n
\n \n \n \n <\/tr>\n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n $ millions<\/b><\/p>\n<\/td>\n
\n June 30, 2021<\/b><\/p>\n<\/td>\n
\n \n June 30, 2020<\/b><\/p>\n<\/td>\n
\n \n December 31, 2020<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n Current assets<\/b><\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nCash and cash equivalents\n<\/p>\n<\/td>\n
\n 318<\/b><\/p>\n<\/td>\n
\n \n \n323\n<\/p>\n<\/td>\n
\n \n \n214\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nShort-term investments and deposits\n<\/p>\n<\/td>\n
\n 92<\/b><\/p>\n<\/td>\n
\n \n \n86\n<\/p>\n<\/td>\n
\n \n \n100\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTrade receivables\n<\/p>\n<\/td>\n
\n 1,097<\/b><\/p>\n<\/td>\n
\n \n \n831\n<\/p>\n<\/td>\n
\n \n \n883\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nInventories\n<\/p>\n<\/td>\n
\n 1,207<\/b><\/p>\n<\/td>\n
\n \n \n1,202\n<\/p>\n<\/td>\n
\n \n \n1,250\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nInvestments at fair value through other comprehensive income\n<\/p>\n<\/td>\n
\n 180<\/b><\/p>\n<\/td>\n
\n \n \n38\n<\/p>\n<\/td>\n
\n \n \n53\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nPrepaid expenses and other receivables\n<\/p>\n<\/td>\n
\n 344<\/b><\/p>\n<\/td>\n
\n \n \n384\n<\/p>\n<\/td>\n
\n \n \n341\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Total current assets<\/b><\/p>\n<\/td>\n
\n 3,238<\/b><\/p>\n<\/td>\n
\n \n \n2,864\n<\/p>\n<\/td>\n
\n \n \n2,841\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Non-current assets<\/b><\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nInvestments at fair value through other comprehensive income\n<\/p>\n<\/td>\n
\n –<\/b><\/p>\n<\/td>\n
\n \n \n76\n<\/p>\n<\/td>\n
\n \n \n83\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nDeferred tax assets\n<\/p>\n<\/td>\n
\n 143<\/b><\/p>\n<\/td>\n
\n \n \n116\n<\/p>\n<\/td>\n
\n \n \n127\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nProperty, plant and equipment\n<\/p>\n<\/td>\n
\n 5,601<\/b><\/p>\n<\/td>\n
\n \n \n5,228\n<\/p>\n<\/td>\n
\n \n \n5,550\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nIntangible assets\n<\/p>\n<\/td>\n
\n 725<\/b><\/p>\n<\/td>\n
\n \n \n634\n<\/p>\n<\/td>\n
\n \n \n670\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nOther non-current assets\n<\/p>\n<\/td>\n
\n 373<\/b><\/p>\n<\/td>\n
\n \n \n308\n<\/p>\n<\/td>\n
\n \n \n393\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Total non-current assets<\/b><\/p>\n<\/td>\n
\n 6,842<\/b><\/p>\n<\/td>\n
\n \n \n6,362\n<\/p>\n<\/td>\n
\n \n \n6,823\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Total assets<\/b><\/p>\n<\/td>\n
\n 10,080<\/b><\/p>\n<\/td>\n
\n \n \n9,226\n<\/p>\n<\/td>\n
\n \n \n9,664\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Current liabilities<\/b><\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nShort-term debt\n<\/p>\n<\/td>\n
\n 630<\/b><\/p>\n<\/td>\n
\n \n \n544\n<\/p>\n<\/td>\n
\n \n \n679\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTrade payables\n<\/p>\n<\/td>\n
\n 801<\/b><\/p>\n<\/td>\n
\n \n \n720\n<\/p>\n<\/td>\n
\n \n \n740\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nProvisions\n<\/p>\n<\/td>\n
\n 55<\/b><\/p>\n<\/td>\n
\n \n \n51\n<\/p>\n<\/td>\n
\n \n \n54\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nOther payables\n<\/p>\n<\/td>\n
\n 659<\/b><\/p>\n<\/td>\n
\n \n \n576\n<\/p>\n<\/td>\n
\n \n \n704\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Total current liabilities<\/b><\/p>\n<\/td>\n
\n 2,145<\/b><\/p>\n<\/td>\n
\n \n \n1,891\n<\/p>\n<\/td>\n
\n \n \n2,177\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Non-current liabilities<\/b><\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nLong-term debt and debentures\n<\/p>\n<\/td>\n
\n 2,212<\/b><\/p>\n<\/td>\n
\n \n \n2,297\n<\/p>\n<\/td>\n
\n \n \n2,053\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nDeferred tax liabilities\n<\/p>\n<\/td>\n
\n 368<\/b><\/p>\n<\/td>\n
\n \n \n305\n<\/p>\n<\/td>\n
\n \n \n326\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nLong-term employee liabilities\n<\/p>\n<\/td>\n
\n 622<\/b><\/p>\n<\/td>\n
\n \n \n579\n<\/p>\n<\/td>\n
\n \n \n655\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nLong-term provisions and accruals\n<\/p>\n<\/td>\n
\n 278<\/b><\/p>\n<\/td>\n
\n \n \n227\n<\/p>\n<\/td>\n
\n \n \n267\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nOther\n<\/p>\n<\/td>\n
\n 76<\/b><\/p>\n<\/td>\n
\n \n \n69\n<\/p>\n<\/td>\n
\n \n \n98\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Total non-current liabilities<\/b><\/p>\n<\/td>\n
\n 3,556<\/b><\/p>\n<\/td>\n
\n \n \n3,477\n<\/p>\n<\/td>\n
\n \n \n3,399\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Total liabilities<\/b><\/p>\n<\/td>\n
\n 5,701<\/b><\/p>\n<\/td>\n
\n \n \n5,368\n<\/p>\n<\/td>\n
\n \n \n5,576\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Equity<\/b><\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Total shareholders\u2019 equity<\/b><\/p>\n<\/td>\n
\n 4,201<\/b><\/p>\n<\/td>\n
\n \n \n3,722\n<\/p>\n<\/td>\n
\n \n \n3,930\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nNon-controlling interests\n<\/p>\n<\/td>\n
\n 178<\/b><\/p>\n<\/td>\n
\n \n \n136\n<\/p>\n<\/td>\n
\n \n \n158\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Total equity<\/b><\/p>\n<\/td>\n
\n 4,379<\/b><\/p>\n<\/td>\n
\n \n \n3,858\n<\/p>\n<\/td>\n
\n \n \n4,088\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Total liabilities and equity<\/b><\/p>\n<\/td>\n
\n 10,080<\/b><\/p>\n<\/td>\n
\n \n \n9,226\n<\/p>\n<\/td>\n
\n \n \n9,664\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n
\n
\n \n Condensed Consolidated Statements of Cash Flows (Unaudited)<\/b><\/p>\n<\/td>\n
\n \n \n \n <\/tr>\n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n $ millions<\/b><\/p>\n<\/td>\n
\n Three-months ended<\/b><\/p>\n<\/td>\n
\n \n Six-months ended<\/b><\/p>\n<\/td>\n
\n \n Year ended<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \n June 30,
\n
2021<\/b><\/p>\n<\/td>\n\n \n June 30,
\n
2020<\/b><\/p>\n<\/td>\n\n \n June 30,
\n
2021<\/b><\/p>\n<\/td>\n\n \n June 30,
\n
2020<\/b><\/p>\n<\/td>\n\n \n December 31,
\n
2020<\/b><\/p>\n<\/td>\n<\/tr>\n\n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n Cash flows from operating activities<\/b><\/p>\n<\/td>\n
\n \n \n \n \n \n \n \n <\/tr>\n \n \n \nNet income\n<\/p>\n<\/td>\n
\n 150<\/b><\/p>\n<\/td>\n
\n \n \n(166)\n<\/p>\n<\/td>\n
\n \n \n292\n<\/p>\n<\/td>\n
\n \n \n(105)\n<\/p>\n<\/td>\n
\n \n \n24\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAdjustments for:\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nDepreciation and amortization\n<\/p>\n<\/td>\n
\n 124<\/b><\/p>\n<\/td>\n
\n \n \n119\n<\/p>\n<\/td>\n
\n \n \n241\n<\/p>\n<\/td>\n
\n \n \n237\n<\/p>\n<\/td>\n
\n \n \n489\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n(Reversal of) Impairment of fixed assets\n<\/p>\n<\/td>\n
\n (9)<\/b><\/p>\n<\/td>\n
\n \n \n90\n<\/p>\n<\/td>\n
\n \n \n(9)\n<\/p>\n<\/td>\n
\n \n \n90\n<\/p>\n<\/td>\n
\n \n \n90\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nExchange rate, interest and derivative, net\n<\/p>\n<\/td>\n
\n –<\/b><\/p>\n<\/td>\n
\n \n \n14\n<\/p>\n<\/td>\n
\n \n \n53\n<\/p>\n<\/td>\n
\n \n \n97\n<\/p>\n<\/td>\n
\n \n \n90\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTax expenses (income)\n<\/p>\n<\/td>\n
\n 64<\/b><\/p>\n<\/td>\n
\n \n \n(33)\n<\/p>\n<\/td>\n
\n \n \n87\n<\/p>\n<\/td>\n
\n \n \n(13)\n<\/p>\n<\/td>\n
\n \n \n25\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nChange in provisions\n<\/p>\n<\/td>\n
\n 12<\/b><\/p>\n<\/td>\n
\n \n \n153\n<\/p>\n<\/td>\n
\n \n \n(9)\n<\/p>\n<\/td>\n
\n \n \n128\n<\/p>\n<\/td>\n
\n \n \n113\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nOther\n<\/p>\n<\/td>\n
\n 8<\/b><\/p>\n<\/td>\n
\n \n \n4\n<\/p>\n<\/td>\n
\n \n \n10\n<\/p>\n<\/td>\n
\n \n \n8\n<\/p>\n<\/td>\n
\n \n \n5\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n 199<\/b><\/p>\n<\/td>\n
\n \n \n347\n<\/p>\n<\/td>\n
\n \n \n373\n<\/p>\n<\/td>\n
\n \n \n547\n<\/p>\n<\/td>\n
\n \n \n812\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nChange in inventories\n<\/p>\n<\/td>\n
\n (3)<\/b><\/p>\n<\/td>\n
\n \n \n34\n<\/p>\n<\/td>\n
\n \n \n27\n<\/p>\n<\/td>\n
\n \n \n62\n<\/p>\n<\/td>\n
\n \n \n54\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nChange in trade receivables\n<\/p>\n<\/td>\n
\n (27)<\/b><\/p>\n<\/td>\n
\n \n \n111\n<\/p>\n<\/td>\n
\n \n \n(174)\n<\/p>\n<\/td>\n
\n \n \n(75)\n<\/p>\n<\/td>\n
\n \n \n(89)\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nChange in trade payables\n<\/p>\n<\/td>\n
\n 36<\/b><\/p>\n<\/td>\n
\n \n \n(4)\n<\/p>\n<\/td>\n
\n \n \n75\n<\/p>\n<\/td>\n
\n \n \n67\n<\/p>\n<\/td>\n
\n \n \n84\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nChange in other receivables\n<\/p>\n<\/td>\n
\n (31)<\/b><\/p>\n<\/td>\n
\n \n \n(8)\n<\/p>\n<\/td>\n
\n \n \n(40)\n<\/p>\n<\/td>\n
\n \n \n(14)\n<\/p>\n<\/td>\n
\n \n \n5\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nChange in other payables\n<\/p>\n<\/td>\n
\n (17)<\/b><\/p>\n<\/td>\n
\n \n \n(87)\n<\/p>\n<\/td>\n
\n \n \n(29)\n<\/p>\n<\/td>\n
\n \n \n(59)\n<\/p>\n<\/td>\n
\n \n \n54\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nNet change in operating assets and liabilities\n<\/p>\n<\/td>\n
\n (42)<\/b><\/p>\n<\/td>\n
\n \n \n46\n<\/p>\n<\/td>\n
\n \n \n(141)\n<\/p>\n<\/td>\n
\n \n \n(19)\n<\/p>\n<\/td>\n
\n \n \n108\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nInterests paid\n<\/p>\n<\/td>\n
\n (37)<\/b><\/p>\n<\/td>\n
\n \n \n(36)\n<\/p>\n<\/td>\n
\n \n \n(55)\n<\/p>\n<\/td>\n
\n \n \n(56)\n<\/p>\n<\/td>\n
\n \n \n(109)\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nIncome taxes paid, net of refund\n<\/p>\n<\/td>\n
\n (28)<\/b><\/p>\n<\/td>\n
\n \n \n(14)\n<\/p>\n<\/td>\n
\n \n \n(21)\n<\/p>\n<\/td>\n
\n \n \n(24)\n<\/p>\n<\/td>\n
\n \n \n(31)\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Net cash provided by operating activities<\/b><\/p>\n<\/td>\n
\n 242<\/b><\/p>\n<\/td>\n
\n \n \n177\n<\/p>\n<\/td>\n
\n \n \n448\n<\/p>\n<\/td>\n
\n \n \n343\n<\/p>\n<\/td>\n
\n \n \n804\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Cash flows from investing activities<\/b><\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nProceeds from deposits and investments, net\n<\/p>\n<\/td>\n
\n 90<\/b><\/p>\n<\/td>\n
\n \n \n17\n<\/p>\n<\/td>\n
\n \n \n98\n<\/p>\n<\/td>\n
\n \n \n29\n<\/p>\n<\/td>\n
\n \n \n34\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nBusiness combinations\n<\/p>\n<\/td>\n
\n –<\/b><\/p>\n<\/td>\n
\n \n \n–\n<\/p>\n<\/td>\n
\n \n \n(64)\n<\/p>\n<\/td>\n
\n \n \n(27)\n<\/p>\n<\/td>\n
\n \n \n(27)\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nPurchases of property, plant and equipment and intangible assets\n<\/p>\n<\/td>\n
\n (151)<\/b><\/p>\n<\/td>\n
\n \n \n(161)\n<\/p>\n<\/td>\n
\n \n \n(298)\n<\/p>\n<\/td>\n
\n \n \n(300)\n<\/p>\n<\/td>\n
\n \n \n(626)\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nProceeds from divestiture of businesses net of transaction expenses\n<\/p>\n<\/td>\n
\n –<\/b><\/p>\n<\/td>\n
\n \n \n17\n<\/p>\n<\/td>\n
\n \n \n–\n<\/p>\n<\/td>\n
\n \n \n17\n<\/p>\n<\/td>\n
\n \n \n26\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nOther\n<\/p>\n<\/td>\n
\n 3<\/b><\/p>\n<\/td>\n
\n \n \n4\n<\/p>\n<\/td>\n
\n \n \n3\n<\/p>\n<\/td>\n
\n \n \n5\n<\/p>\n<\/td>\n
\n \n \n10\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Net cash used in investing activities<\/b><\/p>\n<\/td>\n
\n (58)<\/b><\/p>\n<\/td>\n
\n \n \n(123)\n<\/p>\n<\/td>\n
\n \n \n(261)\n<\/p>\n<\/td>\n
\n \n \n(276)\n<\/p>\n<\/td>\n
\n \n \n(583)\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Cash flows from financing activities<\/b><\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nDividends paid to the Company’s shareholders\n<\/p>\n<\/td>\n
\n (67)<\/b><\/p>\n<\/td>\n
\n \n \n(30)\n<\/p>\n<\/td>\n
\n \n \n(101)\n<\/p>\n<\/td>\n
\n \n \n(53)\n<\/p>\n<\/td>\n
\n \n \n(118)\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nReceipt of long-term debt\n<\/p>\n<\/td>\n
\n 187<\/b><\/p>\n<\/td>\n
\n \n \n355\n<\/p>\n<\/td>\n
\n \n \n497\n<\/p>\n<\/td>\n
\n \n \n877\n<\/p>\n<\/td>\n
\n \n \n1,175\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nRepayments of long-term debt\n<\/p>\n<\/td>\n
\n (144)<\/b><\/p>\n<\/td>\n
\n \n \n(408)\n<\/p>\n<\/td>\n
\n \n \n(455)\n<\/p>\n<\/td>\n
\n \n \n(551)\n<\/p>\n<\/td>\n
\n \n \n(1,133)\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nReceipts (repayments) of short-term debt, net\n<\/p>\n<\/td>\n
\n 25<\/b><\/p>\n<\/td>\n
\n \n \n(99)\n<\/p>\n<\/td>\n
\n \n \n(16)\n<\/p>\n<\/td>\n
\n \n \n(108)\n<\/p>\n<\/td>\n
\n \n \n(52)\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nReceipts (payments) from transactions in derivatives\n<\/p>\n<\/td>\n
\n (32)<\/b><\/p>\n<\/td>\n
\n \n \n14\n<\/p>\n<\/td>\n
\n \n \n(18)\n<\/p>\n<\/td>\n
\n \n \n(2)\n<\/p>\n<\/td>\n
\n \n \n24\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nOther\n<\/p>\n<\/td>\n
\n –<\/b><\/p>\n<\/td>\n
\n \n \n–\n<\/p>\n<\/td>\n
\n \n \n–\n<\/p>\n<\/td>\n
\n \n \n–\n<\/p>\n<\/td>\n
\n \n \n(1)\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Net cash provided by (used in) financing activities<\/b><\/p>\n<\/td>\n
\n (31)<\/b><\/p>\n<\/td>\n
\n \n \n(168)\n<\/p>\n<\/td>\n
\n \n \n(93)\n<\/p>\n<\/td>\n
\n \n \n163\n<\/p>\n<\/td>\n
\n \n \n(105)\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Net change in cash and cash equivalents<\/b><\/p>\n<\/td>\n
\n 153<\/b><\/p>\n<\/td>\n
\n \n \n(114)\n<\/p>\n<\/td>\n
\n \n \n94\n<\/p>\n<\/td>\n
\n \n \n230\n<\/p>\n<\/td>\n
\n \n \n116\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nCash and cash equivalents as of the beginning of the period\n<\/p>\n<\/td>\n
\n 157<\/b><\/p>\n<\/td>\n
\n \n \n434\n<\/p>\n<\/td>\n
\n \n \n214\n<\/p>\n<\/td>\n
\n \n \n95\n<\/p>\n<\/td>\n
\n \n \n95\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nNet effect of currency translation on cash and cash equivalents\n<\/p>\n<\/td>\n
\n 8<\/b><\/p>\n<\/td>\n
\n \n \n3\n<\/p>\n<\/td>\n
\n \n \n10\n<\/p>\n<\/td>\n
\n \n \n(2)\n<\/p>\n<\/td>\n
\n \n \n3\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Cash and cash equivalents as of the end of the period<\/b><\/p>\n<\/td>\n
\n 318<\/b><\/p>\n<\/td>\n
\n \n \n323\n<\/p>\n<\/td>\n
\n \n \n318\n<\/p>\n<\/td>\n
\n \n \n323\n<\/p>\n<\/td>\n
\n \n \n214\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n
\n
\n \n Adjustments to Reported Operating and Net Income (non-GAAP)<\/b><\/p>\n<\/td>\n
\n \n \n \n \n \n <\/tr>\n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n $ millions<\/b><\/p>\n<\/td>\n
\n Three
\n
months
\n
ended<\/b><\/p>\n<\/td>\n\n \n\u00a0\n<\/p>\n<\/td>\n
\n Three-
\n
<\/b>months
\n
ended<\/b><\/p>\n<\/td>\n\n \n\u00a0\n<\/p>\n<\/td>\n
\n Six-
\n<\/b>
months
\n
ended<\/b><\/p>\n<\/td>\n\n \n\u00a0\n<\/p>\n<\/td>\n
\n Six-
\n
months
\n
ended<\/b><\/p>\n<\/td>\n<\/tr>\n\n \n \n June 30,
\n
2021<\/b><\/p>\n<\/td>\n\n \n\u00a0\n<\/p>\n<\/td>\n
\n June 30,
\n
2020<\/b><\/p>\n<\/td>\n\n \n\u00a0\n<\/p>\n<\/td>\n
\n June 30,
\n
2021<\/b><\/p>\n<\/td>\n\n \n\u00a0\n<\/p>\n<\/td>\n
\n June 30,
\n
2020<\/b><\/p>\n<\/td>\n<\/tr>\n\n \n \nOperating income (loss)\n<\/p>\n<\/td>\n
\n \n243\n<\/p>\n<\/td>\n
\n \n \n(169)\n<\/p>\n<\/td>\n
\n \n \n428\n<\/p>\n<\/td>\n
\n \n \n(37)\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nImpairment and disposal of assets, provision for closure and restoration costs (1)\n<\/p>\n<\/td>\n
\n \n1\n<\/p>\n<\/td>\n
\n \n \n219\n<\/p>\n<\/td>\n
\n \n \n1\n<\/p>\n<\/td>\n
\n \n \n219\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nJudicial proceedings (2)\n<\/p>\n<\/td>\n
\n \n(8)\n<\/p>\n<\/td>\n
\n \n \n–\n<\/p>\n<\/td>\n
\n \n \n(8)\n<\/p>\n<\/td>\n
\n \n \n–\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nProvision for early retirement (3)\n<\/p>\n<\/td>\n
\n \n–\n<\/p>\n<\/td>\n
\n \n \n78\n<\/p>\n<\/td>\n
\n \n \n–\n<\/p>\n<\/td>\n
\n \n \n78\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTotal adjustments to operating income (loss)\n<\/p>\n<\/td>\n
\n \n(7)\n<\/p>\n<\/td>\n
\n \n \n297\n<\/p>\n<\/td>\n
\n \n \n(7)\n<\/p>\n<\/td>\n
\n \n \n297\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAdjusted operating income\n<\/p>\n<\/td>\n
\n \n236\n<\/p>\n<\/td>\n
\n \n \n128\n<\/p>\n<\/td>\n
\n \n \n421\n<\/p>\n<\/td>\n
\n \n \n260\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nNet income (loss) attributable to the shareholders of the Company\n<\/p>\n<\/td>\n
\n \n140\n<\/p>\n<\/td>\n
\n \n \n(168)\n<\/p>\n<\/td>\n
\n \n \n275\n<\/p>\n<\/td>\n
\n \n \n(108)\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTotal adjustments to operating income (loss)\n<\/p>\n<\/td>\n
\n \n(7)\n<\/p>\n<\/td>\n
\n \n \n297\n<\/p>\n<\/td>\n
\n \n \n(7)\n<\/p>\n<\/td>\n
\n \n \n297\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTotal tax impact of the above operating income (loss)\n<\/p>\n<\/td>\n
\n \n2\n<\/p>\n<\/td>\n
\n \n \n(57)\n<\/p>\n<\/td>\n
\n \n \n2\n<\/p>\n<\/td>\n
\n \n \n(57)\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTotal adjusted net income – shareholders of the Company\n<\/p>\n<\/td>\n
\n \n135\n<\/p>\n<\/td>\n
\n \n \n72\n<\/p>\n<\/td>\n
\n \n \n270\n<\/p>\n<\/td>\n
\n \n \n132\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n
\n
\n \n \u00a0<\/td>\n<\/tr>\n \n \n (1)<\/i><\/p>\n<\/td>\n
\n For 2021, reflects a disposal of an initial investment that will not materialize in Spain and an increase in restoration costs related to Rotem Amfert Israel, which was offset by a reversal of impairment in Rotem Amfert Israel due to the strengthening of phosphate prices. For 2020, reflects an impairment and write-off of certain assets in Rotem Amfert Israel, following low phosphate prices and the discontinuation of the unprofitable production and sale of phosphate rock activity, which also led to an increase in the provision for asset retirement obligation (ARO) and in facilities restoration costs. Also, reflects an impairment of assets and an increase in closure costs, as a result of the closure of the Sallent site (Vilafruns) in Spain.<\/i><\/p>\n<\/td>\n<\/tr>\n
\n \n (2)<\/i><\/p>\n<\/td>\n
\n For 2021, reflects a reversal of VAT provision following a court ruling in Brazil, less reimbursement of arbitration costs pursuant to the tribunal’s decision in Europe regarding the investment in the Ethiopian potash project.<\/i><\/p>\n<\/td>\n<\/tr>\n
\n \n (3)<\/i><\/p>\n<\/td>\n
\n For 2020, this reflects an increase in the provision following implementation of an efficiency plan, primarily through an early retirement plan, at Israeli production facilities (Rotem Amfert Israel, Bromine Compounds and Dead Sea Magnesium).<\/i><\/p>\n<\/td>\n<\/tr>\n<\/table>\n
\n
\n \n Consolidated EBITDA for the Periods of Activity<\/b><\/p>\n<\/td>\n
\n \n <\/tr>\n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n $ millions<\/b><\/td>\n \n Three-months ended<\/b><\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n Six-months ended<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \n June 30, 2021<\/b><\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n June 30, 2020<\/b><\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n June 30, 2021<\/b><\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n June 30, 2020<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \nNet income (loss) attributable to the shareholders of the Company\n<\/p>\n<\/td>\n
\n \n140\n<\/p>\n<\/td>\n
\n \n \n(168)\n<\/p>\n<\/td>\n
\n \n \n275\n<\/p>\n<\/td>\n
\n \n \n(108)\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nFinancing expenses, net\n<\/p>\n<\/td>\n
\n \n30\n<\/p>\n<\/td>\n
\n \n \n31\n<\/p>\n<\/td>\n
\n \n \n50\n<\/p>\n<\/td>\n
\n \n \n83\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nProvision for income taxes\n<\/p>\n<\/td>\n
\n \n64\n<\/p>\n<\/td>\n
\n \n \n(33)\n<\/p>\n<\/td>\n
\n \n \n87\n<\/p>\n<\/td>\n
\n \n \n(13)\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nMinority and equity income, net (1)\n<\/p>\n<\/td>\n
\n \n9\n<\/p>\n<\/td>\n
\n \n \n1\n<\/p>\n<\/td>\n
\n \n \n16\n<\/p>\n<\/td>\n
\n \n \n1\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Operating income (loss)<\/b><\/p>\n<\/td>\n
\n \n243\n<\/p>\n<\/td>\n
\n \n \n(169)\n<\/p>\n<\/td>\n
\n \n \n428\n<\/p>\n<\/td>\n
\n \n \n(37)\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nMinority and equity income, net (2)\n<\/p>\n<\/td>\n
\n \n(9)\n<\/p>\n<\/td>\n
\n \n \n(1)\n<\/p>\n<\/td>\n
\n \n \n(16)\n<\/p>\n<\/td>\n
\n \n \n(1)\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nDepreciation and amortization\n<\/p>\n<\/td>\n
\n \n124\n<\/p>\n<\/td>\n
\n \n \n119\n<\/p>\n<\/td>\n
\n \n \n241\n<\/p>\n<\/td>\n
\n \n \n237\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Adjustments (3)<\/b><\/p>\n<\/td>\n
\n \n(7)\n<\/p>\n<\/td>\n
\n \n \n297\n<\/p>\n<\/td>\n
\n \n \n(7)\n<\/p>\n<\/td>\n
\n \n \n297\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Total adjusted EBITDA<\/b><\/p>\n<\/td>\n
\n \n351\n<\/p>\n<\/td>\n
\n \n \n246\n<\/p>\n<\/td>\n
\n \n \n646\n<\/p>\n<\/td>\n
\n \n \n496\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n
- \nPhosphate salts: Sales were up significantly, with higher sales of both food grade phosphates and industrial salts.<\/p>\n
- \nRecord sales of $623 million were up $184 million or 42%.<\/p>\n
- \nPolysulphate production was up 5% year-over-year to ~193,000 tons, while sales volume was up 40% year-over-year to ~183,000 tons.\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n
- \nICL Dead Sea<\/p>\n
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<\/td>\n<\/tr>\n