Company: CF
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001324404-25-000024
Chunk: 157

Company: CF Industries Holdings, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 8
Chunk 157
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 plans. In 2026 and 2027, we expect to contribute approximately $15 million and $4 million, respectively, to our U.K. pension plans, as currently agreed with the plans’ trustees.

Distributions to Noncontrolling Interest in CFN 

On January 31, 2025, CFN distributed $129 million to CHS for the distribution period ended December 31, 2024. On July 31, 2025, the CFN Board of Managers approved semi-annual distribution payments for the distribution period ended June 30, 2025 in accordance with CFN’s limited liability company agreement, and CFN distributed $175 million to CHS for this distribution period.

Cash Flows

Net cash provided by operating activities during the first six months of 2025 was $1.15 billion, an increase of $229 million, compared to $920 million in the first six months of 2024. The increase in cash flow from operations was due primarily to an increase in gross margin, driven by higher sales volume and increased average selling prices, partially offset by higher natural gas costs.  

Net cash used in investing activities was $368 million in the first six months of 2025 compared to $134 million in the first six months of 2024. Capital expenditures totaled $377 million during the first six months of 2025 compared to $182 million in the first six months of 2024. Our capital expenditures for the first six months of 2025 included $90 million related to the Blue Point joint venture.

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Table of ContentsCF INDUSTRIES HOLDINGS, INC. 

Net cash used in financing activities was $733 million in the first six months of 2025 compared to $998 million in the first six months of 2024. The decrease was due primarily to contributions from noncontrolling interests of $235 million in the first six months of 2025 and a decrease in dividends paid on common stock due to lower shares outstanding as a result of common shares repurchased under our share repurchase program. In the first six months of 2025, dividends paid on common stock was $167 million compared to $188 million in the first six months of 2024.

Critical Accounting Estimates 

During the first six months of 2025, there were no material changes to our critical accounting estimates as described in Item 7 of our Annual Report on Form 10-K for the