Company: CF
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001324404-25-000024
Chunk: 125

Company: CF Industries Holdings, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 8
Chunk 125
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 natural gas derivatives$— $(1)$1 100 %$2 $(34)$36 N/MDepreciation and amortization$232 $222 $10 5 %$453 $475 $(22)(5)%Capital expenditures$245 $84 $161 192 %$377 $182 $195 107 %Sales volume by product tons (000s)5,021 4,875 146 3 %10,025 9,399 626 7 %Production volume by product tons (000s):Ammonia(3) 2,557 2,602 (45)(2)%5,174 4,750 424 9 %Granular urea1,182 1,255 (73)(6)%2,292 2,214 78 4 %UAN (32%)(4)1,725 1,833 (108)(6)%3,581 3,464 117 3 %AN341 333 8 2 %663 674 (11)(2)%___________________________________________________________________________

N/M—Not Meaningful

29

Table of ContentsCF INDUSTRIES HOLDINGS, INC. 

(1)Includes the cost of natural gas used for production and related transportation that is included in cost of sales during the period under the first-in, first-out inventory cost method. 

(2)Includes realized gains and losses on natural gas derivatives settled during the period. Excludes unrealized mark-to-market gains and losses on natural gas derivatives.

(3)Gross ammonia production, including amounts subsequently upgraded on-site into granular urea, UAN, or AN.

(4)UAN product tons assume a 32% nitrogen content basis for production volume.

Second Quarter of 2025 Compared to Second Quarter of 2024

Net Sales

Our total net sales increased $318 million, or 20%, to $1.89 billion in the second quarter of 2025 compared to $1.57 billion in the second quarter of 2024, due to higher average selling prices and higher sales volume. 

Our average selling price was $376 per ton in the second quarter of 2025 compared to $322 per ton in the second quarter of 2024, due to higher average selling prices across all of our segments as higher global energy costs raised the global market clearing price required to meet global