Company: CF
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0001324404-25-000006
Chunk: 112

Company: CF Industries Holdings, Inc.
Filing Date: 2025-02-20
Form: 10-K
Item: Item 7
Chunk 112
---
$1,600 $1,678 $419 $503 $5,936 Cost of sales1,243 926 1,069 340 302 3,880 Gross margin$493 $674 $609 $79 $201 $2,056 Gross margin percentage28.4 %42.1 %36.3 %18.9 %40.0 %34.6 %Year ended December 31, 2023Net sales$1,679 $1,823 $2,068 $497 $564 $6,631 Cost of sales1,138 1,010 1,251 359 328 4,086 Gross margin$541 $813 $817 $138 $236 $2,545 Gross margin percentage32.2 %44.6 %39.5 %27.8 %41.8 %38.4 %Year ended December 31, 2022Net sales$3,090 $2,892 $3,572 $845 $787 $11,186 Cost of sales1,491 1,328 1,489 597 420 5,325 Gross margin$1,599 $1,564 $2,083 $248 $367 $5,861 Gross margin percentage51.7 %54.1 %58.3 %29.3 %46.6 %52.4 %_______________________________________________________________________________

(1)The financial results of the Waggaman facility are included in the Ammonia segment from the Waggaman acquisition date of December 1, 2023. See “Acquisition of Waggaman Ammonia Production Facility” for additional information.

(2)The cost of ammonia and other products that are upgraded in the production of Granular Urea, UAN, AN and Other products is transferred at cost into the results of those products.

The following is a discussion and analysis of our operating results by business segment for the year ended December 31, 2024 compared to the year ended December 31, 2023. For a discussion and analysis of our operating results by business segment for the year ended December 31, 2023 compared to the year ended December 31, 2022, see Item