Company: CF
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001324404-25-000015
Chunk: 16

Company: CF Industries Holdings, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 2
Chunk 16
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8 %41.4 %34.4 %Three months ended March 31, 2024Net sales$402 $407 $425 $114 $122 $1,470 Cost of sales337 253 282 105 84 1,061 Gross margin$65 $154 $143 $9 $38 $409 Gross margin percentage16.2 %37.8 %33.6 %7.9 %31.1 %27.8 %_______________________________________________________________________________

(1)The cost of ammonia and other products that are upgraded in the production of Granular Urea, UAN, AN and Other products is transferred at cost into the results of those products.

29

Table of ContentsCF INDUSTRIES HOLDINGS, INC. 

Ammonia Segment

Our Ammonia segment produces anhydrous ammonia (ammonia), which is the base product that we manufacture, containing 82% nitrogen and 18% hydrogen. The results of our Ammonia segment consist of sales of ammonia to external customers for its nitrogen content as a fertilizer, in emissions control and in other industrial applications. In addition, we upgrade ammonia into other nitrogen products such as granular urea, UAN and AN. 

The following table presents summary operating data for our Ammonia segment:

 Three Months Ended March 31, 202520242025 v. 2024 (dollars in millions, except per ton amounts)Net sales$520 $402 $118 29 %Cost of sales334 337 (3)(1)%Gross margin$186 $65 $121 186 %Gross margin percentage35.8 %16.2 %19.6 %Sales volume by product tons (000s)1,146 918 228 25 %Sales volume by nutrient tons (000s)(1)940 753 187 25 %Average selling price per product ton$454 $438 $16 4 %Average selling price per nutrient ton(1)$553 $534 $19 4 %Gross margin per product ton$162 $71 $91 128 %Gross margin per nutrient ton(1)$198 $86 $112 130 %Depreciation and amortization$48 $72 $(24)(33)%Unrealized