Company: CF
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001324404-25-000024
Chunk: 48

Company: CF Industries Holdings, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 2
Chunk 48
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 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 fiscal year ended December 31, 2024.

Recent Accounting Pronouncements

See Note 2—New Accounting Standards for a discussion of recent accounting pronouncements.

Forward-Looking Statements

From time to time, in this Quarterly Report on Form 10-Q as well as in other written reports and oral statements, we make forward-looking statements that are not statements of historical fact and may involve a number of risks and uncertainties. These statements relate to analyses and other information that are based on forecasts of future results and estimates of amounts not yet determinable. These statements may also relate to our prospects, future developments and business strategies. We use the words “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “project,” “will,” or “would” and similar terms and phrases, including references to assumptions, to identify forward-looking statements. These forward-looking statements are made based on currently available competitive, financial and economic data, our current expectations,