Company: CF
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001324404-25-000015
Chunk: 75

Company: CF Industries Holdings, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 8
Chunk 75
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15 2 — 17 Under our short-term investment policy, we may invest our cash balances, either directly or through mutual funds, in several types of investment-grade securities, including notes and bonds issued by governmental entities or corporations and also in bank deposits. Securities issued by governmental entities include those issued directly by the U.S. and Canadian federal governments; those issued by state, local or other governmental entities; and those guaranteed by entities affiliated with governmental entities.Assets and Liabilities Measured at Fair Value on a Recurring BasisThe following tables present assets and liabilities included in our consolidated balance sheets as of March 31, 2025 and December 31, 2024 that are recognized at fair value on a recurring basis, and indicate the fair value hierarchy utilized to determine such fair value:  March 31, 2025 Total FairValueQuoted Pricesin ActiveMarkets(Level 1)SignificantOtherObservableInputs(Level 2)SignificantUnobservableInputs(Level 3) (in millions)Cash equivalents$1,200 $1,200 $— $— Nonqualified employee benefit trusts17 17 — — Derivative assets1 — 1 — Derivative liabilities(2)— (2)— 

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Table of ContentsCF INDUSTRIES HOLDINGS, INC. 

 December 31, 2024 Total FairValueQuoted Pricesin ActiveMarkets(Level 1)SignificantOtherObservableInputs(Level 2)SignificantUnobservableInputs(Level 3) (in millions)Cash equivalents$1,446 $1,446 $— $— Nonqualified employee benefit trusts17 17 — — Derivative assets4 — 4 — Derivative liabilities(3)— (3)— Cash Equivalents Cash equivalents include highly liquid investments that are readily convertible to known amounts of cash and have original maturities of three months or less. As of March 31, 2025 and December 31, 2024, our cash equivalents consisted primarily of U.S. and Canadian government obligations and money market mutual funds that invest in U.S. government obligations and other investment-grade securities.Nonqualified Employee Benefit TrustsWe maintain trusts associated with certain nonqualified supplemental pension plans. The fair values of the trust assets are based on daily quoted prices in an active market and are included on our consolidated balance sheets in other assets. Debt securities are accounted for as available-for-sale securities,