Company: CF
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001324404-25-000030
Chunk: 97

Company: CF Industries Holdings, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 8
Chunk 97
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2025.

8

Table of ContentsCF INDUSTRIES HOLDINGS, INC. 

Supply Contract LiabilityIn connection with our December 1, 2023 acquisition of the Waggaman ammonia production facility, we entered into a long-term ammonia offtake agreement providing for us to supply up to 200,000 tons of ammonia per year to Dyno Nobel, Inc. (the Supply Contract). The terms of the Supply Contract were determined to be unfavorable compared to market as of the acquisition date. As a result, we recorded an intangible liability with an acquisition date fair value of $757 million, which is being amortized to net sales over the estimated life of the Supply Contract of 25 years. For both the three months ended September 30, 2025 and 2024, we amortized $8 million of the Supply Contract liability into net sales. For both the nine months ended September 30, 2025 and 2024, we amortized $23 million of the Supply Contract liability into net sales. As of September 30, 2025 and December 31, 2024, we had $701 million and $724 million, respectively, in Supply Contract liability on our consolidated balance sheets. Estimated amortization of the Supply Contract liability for the remainder of 2025 is approximately $7 million and for each of the fiscal years 2026 to 2030 is approximately $30 million.

4.   Net Earnings Per Share

Net earnings per share were computed as follows: Three months ended  September 30,Nine months ended  September 30, 2025202420252024 (in millions, except per share amounts)Net earnings attributable to common stockholders$353 $276 $1,051 $890 Basic earnings per common share:    Weighted-average common shares outstanding161.0 178.4 164.2 182.9 Net earnings attributable to common stockholders$2.19 $1.55 $6.40 $4.87 Diluted earnings per common share:    Weighted-average common shares outstanding161.0 178.4 164.2 182.9 Dilutive common shares—stock-based awards0.2 0.2 0.1 0.2 Diluted weighted-average common shares outstanding161.2 178.6 164.3 183.1 Net earnings attributable to common stockholders