Company: CF
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001324404-25-000030
Chunk: 82

Company: CF Industries Holdings, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 82
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)ConsolidatedNet sales$1,659 $1,370 $5,212 $4,412 Cost of sales:Natural gas, including the impact of realized derivatives(1)248 184 890 611 Unrealized net mark-to-market (gain) loss on natural gas derivatives(1)1 1 (33)Depreciation and amortization(2)217 229 668 700 Distribution and storage(3)54 57 194 174 Freight(4)83 77 244 237 Other segment items(5)426 378 1,256 1,191 Total cost of sales1,027 926 3,253 2,880 Gross margin632 444 1,959 1,532 Total other operating costs and expenses58 82 288 228 Equity in earnings of operating affiliate6 2 12 1 Operating earnings$580 $364 $1,683 $1,305 _______________________________________________________________________________(1)Natural gas costs include the impact of realized gains and losses on natural gas derivatives settled during the period.(2)For the three months ended September 30, 2025 and 2024, depreciation and amortization does not include $9 million and $8 million, respectively, of depreciation and amortization allocated to Corporate, which includes amortization of definite-lived intangible assets. For the nine months ended September 30, 2025 and 2024, depreciation and amortization does not include $25 million and $27 million, respectively, of depreciation and amortization allocated to Corporate, which includes amortization of definite-lived intangible assets. For both the three months ended September 30, 2025 and 2024, depreciation and amortization does not include $8 million of amortization related to the Supply Contract liability, which is recognized in net sales. For both the nine months ended September 30, 2025 and 2024, depreciation and amortization does not include $23 million of amortization related to the Supply Contract liability, which is recognized in net sales. See Note 3—Revenue Recognition for additional information on the Supply Contract liability.(3)Distribution and storage costs consist of the cost of freight required to transport finished products from our manufacturing facilities to our distribution facilities and the costs to operate our network of distribution facilities in North America.(4)Freight costs consist of the costs incurred by