Company: CF
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001324404-25-000015
Chunk: 80

Company: CF Industries Holdings, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 8
Chunk 80
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 interest in our consolidated balance sheets is provided below.20252024 (in millions)Noncontrolling interest:Balance as of January 1$2,607 $2,656 Earnings attributable to noncontrolling interest39 44 Declaration of distributions payable(129)(144)Balance as of March 31$2,517 $2,556 Distributions payable to noncontrolling interest:Balance as of January 1$— $— Declaration of distributions payable129 144 Distributions to noncontrolling interest(129)(144)Balance as of March 31$— $— 

CHS also receives deliveries pursuant to a supply agreement under which CHS has the right to purchase annually from CFN up to approximately 1.1 million tons of granular urea and 580,000 tons of UAN at market prices. As a result of its equity interest in CFN, CHS is entitled to semi-annual cash distributions from CFN. We are also entitled to semi-annual cash distributions from CFN. The amounts of distributions from CFN to us and CHS are based generally on the profitability of CFN and determined based on the volume of granular urea and UAN sold by CFN to us and CHS pursuant to supply agreements, less a formula driven amount based primarily on the cost of natural gas used to produce the granular urea and UAN, and adjusted for the allocation of items such as operational efficiencies and overhead amounts. 

13.   Stockholders’ Equity 

Common Stock Our Board of Directors (the Board) has authorized certain programs to repurchase shares of our common stock. These programs have generally permitted repurchases to be made from time to time in the open market, through privately-negotiated transactions, through block transactions, through accelerated share repurchase programs or otherwise. The manner, timing and amount of repurchases will be determined by our management based on the evaluation of market conditions, stock price and other factors. On November 2, 2022, the Board authorized the repurchase of up to $3 billion of CF Holdings common stock (the 2022 Share Repurchase Program), which commenced in the second quarter of 2023 upon completion of our previous share repurchase program and is effective through December 31, 2025. See Note 15—Subsequent Events for additional information.

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Table of ContentsCF INDUSTRIES HOLDINGS, INC. 

The following table summarizes the share