Company: CF
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001324404-25-000030
Chunk: 14

Company: CF Industries Holdings, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 2
Chunk 14
---
 million related to our December 1, 2023 acquisition of an ammonia production facility located in Waggaman, Louisiana. We did not incur integration costs in 2025.

Canada Revenue Agency Competent Authority Matter

In the second half of 2022, as a result of the conclusion of arbitration proceedings and the settlement provisions between the United States and Canadian competent authorities related to tax years 2006-2011, we paid additional income taxes and related interest of $124 million and $100 million, respectively, to the Canada Revenue Agency (CRA) and Alberta Tax and Revenue Administration (Alberta TRA). In the third quarter of 2024, we were informed that the CRA granted us discretionary interest relief for certain tax years from 2006 through 2011. Based on estimates and foreign currency exchange rates as of September 30, 2024, the interest relief from the CRA and Alberta TRA was estimated to be approximately $40 million, consisting of interest refunds of $37 million and related interest of $3 million. As a result, in the third quarter of 2024, we recognized $40 million of income consisting of a $37 million reduction in interest expense and $3 million of interest income.

29

Table of ContentsCF INDUSTRIES HOLDINGS, INC. 

Consolidated Results of Operations

The following table presents our consolidated results of operations and certain supplemental data for the three and nine months ended September 30, 2025 and 2024: 

 Three Months Ended September 30,Nine Months Ended September 30,202520242025 v. 2024202520242025 v. 2024 (dollars in millions, except per share and per MMBtu amounts)Net sales $1,659 $1,370 $289 21 %$5,212 $4,412 $800 18 %Cost of sales (COS)1,027 926 101 11 %3,253 2,880 373 13 %Gross margin632 444 188 42 %1,959 1,532 427 28 %Gross margin percentage38.1 %32.4 %5.7 %37.6 %34.7 %2.9 %Selling, general and administrative expenses88 78 10 13 %273 242 31 13 %U.K. operations