Company: CF
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001324404-25-000024
Chunk: 43

Company: CF Industries Holdings, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 2
Chunk 43
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 and workmanship, labor or material shortages, impact of tariffs, retaliatory measures or other changes in trade policy, transportation constraints, acceleration or delays in the timing of the work and other unforeseen difficulties. Any of these changes in planned capital 

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Table of ContentsCF INDUSTRIES HOLDINGS, INC. 

expenditures, individually or in the aggregate, could have a material impact on our results of operations and cash flows. See “—Forward-Looking Statements” for additional risks related to our planned capital expenditures. 

Share Repurchase Programs

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. On May 6, 2025, the Board authorized the repurchase of up to $2 billion of CF Holdings common stock commencing upon the completion of the 2022 Share Repurchase Program and effective through December 31, 2029. The following table summarizes the share repurchases under the 2022 Share Repurchase Program. SharesAmounts(1)(in millions)Shares repurchased in 20235.6 $425 Shares repurchased in 2024:First quarter4.3 347 Second quarter4.0 305 Third quarter6.1 476 Fourth quarter4.4 385 Total shares repurchased in 202418.8 1,513 Shares repurchased in 2025:First quarter5.4 434 Second quarter2.8 202 Total shares repurchased in 20258.2 636 Shares repurchased as of June 30, 202532.6 $2,574 ______________________________________________________________________________

(1)As defined in the 2022 Share Repurchase Program, amounts reflect the price paid for the shares of common stock repurchased, excluding commissions