Company: CF
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001324404-25-000024
Chunk: 76

Company: CF Industries Holdings, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 76
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 other products that are upgraded into Granular Urea, UAN, AN and Other products are transferred at cost into the results of those products. Segment data for gross margin, including sales and cost of sales, which also includes significant expenses, for the three and six months ended June 30, 2025 and 2024 are presented in the tables below.Three months ended  June 30,Six months ended  June 30, 2025202420252024 (in millions)AmmoniaNet sales$491 $409 $1,011 $811 Cost of sales:Natural gas, including the impact of realized derivatives(1)108 55 218 141 Unrealized net mark-to-market loss (gain) on natural gas derivatives— — 1 (12)Depreciation and amortization(2)60 57 115 136 Distribution and storage(3)58 44 95 79 Freight(4)10 10 25 24 Other segment items(5)119 96 235 231 Total cost of sales355 262 689 599 Gross margin$136 $147 $322 $212 Granular UreaNet sales$547 $457 $986 $864 Cost of sales:Natural gas, including the impact of realized derivatives(1)83 53 178 129 Unrealized net mark-to-market gain on natural gas derivatives— — — (9)Depreciation and amortization(2)72 76 143 145 Distribution and storage(3)2 3 5 5 Freight(4)12 10 19 20 Other segment items(5)99 88 189 193 Total cost of sales268 230 534 483 Gross margin$279 $227 $452 $381 

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Table of ContentsCF INDUSTRIES HOLDINGS, INC. 

Three months ended  June 30,Six months ended  June 30, 2025202420252024 (in millions)UANNet sales$610 $475 $1,080 $900 Cost of sales:Natural gas, including the impact of realized derivatives(1)91 45 195 122 Unrealized net mark-to-market loss (gain) on natural gas derivatives— — 1 (10)Depreciation