Company: CF
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001324404-25-000024
Chunk: 147

Company: CF Industries Holdings, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 8
Chunk 147
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45 $66 $(21)(32)%$100 $104 $(4)(4)%Gross margin percentage36.0 %49.6 %(13.6)%38.8 %40.8 %(2.0)%Sales volume by product tons (000s)466 557 (91)(16)%996 1,070 (74)(7)%Sales volume by nutrient tons (000s)(1)94 109 (15)(14)%200 208 (8)(4)%Average selling price per product ton$268 $239 $29 12 %$259 $238 $21 9 %Average selling price per nutrient ton(1)$1,330 $1,220 $110 9 %$1,290 $1,226 $64 5 %Gross margin per product ton$97 $118 $(21)(18)%$100 $97 $3 3 %Gross margin per nutrient ton(1)$479 $606 $(127)(21)%$500 $500 $— — %Depreciation and amortization$17 $13 $4 31 %$30 $33 $(3)(9)%Unrealized net mark-to-market gain on natural gas derivatives$— $(1)$1 100 %$— $(2)$2 100 %_______________________________________________________________________________

(1)Nutrient tons represent the tons of nitrogen within the product tons.

Second Quarter of 2025 Compared to Second Quarter of 2024

Net Sales.    Net sales in our Other segment decreased by $8 million, or 6%, to $125 million in the second quarter of 2025 from $133 million in the second quarter of 2024 due to a 16% decrease in sales volume, partially offset by a 12% increase in average selling prices. The decrease in sales volume primarily reflected lower DEF and nitric acid shipments. Average selling prices increased by 12% as higher global energy costs raised the global market clearing price required to meet global demand.

Cost of Sales.    Cost of sales in our Other segment averaged $171 per ton in the second quarter of 2025, a 41% increase from $121 per ton in the second quarter of 2024, due primarily to higher costs associated with maintenance activity, and higher realized natural gas costs, including the