Company: CF
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001324404-25-000030
Chunk: 148

Company: CF Industries Holdings, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 8
Chunk 148
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 segment produces urea ammonium nitrate solution (UAN). UAN, a liquid fertilizer product with a nitrogen content that typically ranges from 28% to 32%, is produced by combining urea and ammonium nitrate. UAN is produced at our Courtright, Donaldsonville, Port Neal, Verdigris, Woodward, and Yazoo City complexes.

The following table presents summary operating data for our UAN segment: 

 Three Months Ended September 30,Nine Months Ended September 30, 202520242025 v. 2024202520242025 v. 2024 (dollars in millions, except per ton amounts)Net sales$517 $406 $111 27 %$1,597 $1,306 $291 22 %Cost of sales287 272 15 6 %955 813 142 17 %Gross margin$230 $134 $96 72 %$642 $493 $149 30 %Gross margin percentage44.5 %33.0 %11.5 %40.2 %37.7 %2.5 %Sales volume by product tons (000s)1,564 1,799 (235)(13)%5,341 5,158 183 4 %Sales volume by nutrient tons (000s)(1)495 570 (75)(13)%1,690 1,632 58 4 %Average selling price per product ton$331 $226 $105 46 %$299 $253 $46 18 %Average selling price per nutrient ton(1)$1,044 $712 $332 47 %$945 $800 $145 18 %Gross margin per product ton$147 $74 $73 99 %$120 $96 $24 25 %Gross margin per nutrient ton(1)$465 $235 $230 98 %$380 $302 $78 26 %Depreciation and amortization$60 $69 $(9)(13)%$205 $206 $(1)— %Unrealized net mark-to-market (gain) loss on natural gas derivatives$(1)$1 $(2)N/M$— $(9)$9 100 %

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