Company: CF
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001324404-25-000030
Chunk: 108

Company: CF Industries Holdings, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 8
Chunk 108
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million, respectively, to the Blue Point joint venture. We funded $152 million of our contributions with cash and $43 million through a non-cash contribution of a license to use certain intellectual property.In addition, we will build scalable infrastructure at our Blue Point complex to supply the ammonia production facility with services, including product storage and vessel loading. We determined that the Blue Point joint venture is a variable interest entity (VIE) of which we are the primary beneficiary. We have a significant variable interest in the Blue Point joint venture through our 40% equity interest. We are considered the primary beneficiary of the VIE as we have both the power to direct the day-to-day operations of the low-carbon ammonia production facility, which are the activities that most significantly impact the economic performance of the VIE, and the obligation to absorb losses or the right to receive benefits from the VIE that could potentially be significant to the VIE, due to our 40% equity interest. As a result, we consolidate this VIE in our consolidated financial statements, with the combined 60% equity interest owned by JERA and Mitsui recorded as noncontrolling interest.  The table below summarizes the assets and liabilities of the Blue Point joint venture included in our consolidated balance sheet as of September 30, 2025: September 30,  2025(in millions)AssetsCash and cash equivalents$233 Property, plant and equipment—net301 Total assets$534 LiabilitiesAccounts payable and accrued expenses$87 Other liabilities1 Total liabilities$88 As of September 30, 2025, all assets of the Blue Point joint venture can only be used to settle the obligations of the Blue Point joint venture. In addition, as of September 30, 2025, all liabilities of the Blue Point joint venture are payable to creditors who do not have recourse to the general credit of CF Holdings. 

CF Holdings has provided guarantees for certain financial commitments of the Blue Point joint venture to several third-party vendors; however, as of September 30, 2025, no liabilities had been incurred by the Blue Point joint venture to these third-party vendors. 

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Table of ContentsCF INDUSTRIES HOLDINGS, INC. 

13.   Noncontrolling Interests 

We have a strategic venture with CHS Inc. (CHS) under which CHS owns an equity interest in CF Industries Nitrogen, LLC (CFN), a subsidiary of CF Holdings. CHS’ equity interest represents approximately