Company: CF
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001324404-25-000015
Chunk: 10

Company: CF Industries Holdings, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 2
Chunk 10
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, and the facility was subsequently decommissioned. In the first quarter of 2025, we sold our Ince facility and recognized a loss of $23 million, which is reflected in U.K. operations restructuring in our consolidated statement of operations. See Note 6—Property, Plant and Equipment—Net for additional information on the sale of our Ince facility.

Integration costs 

In the three months ended March 31, 2024, we incurred integration costs of $3 million related to our December 1, 2023 acquisition of an ammonia production facility located in Waggaman, Louisiana.

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Table of ContentsCF INDUSTRIES HOLDINGS, INC. 

Consolidated Results of Operations

The following table presents our consolidated results of operations and certain supplemental data for the three months ended March 31, 2025 and 2024: 

 Three Months Ended March 31,202520242025 v. 2024 (dollars in millions, except per share and per MMBtu amounts)Net sales $1,663 $1,470 $193 13 %Cost of sales1,091 1,061 30 3 %Gross margin572 409 163 40 %Gross margin percentage34.4 %27.8 %6.6 %Selling, general and administrative expenses84 88 (4)(5)%U.K. operations restructuring23 — 23 N/MIntegration costs— 3 (3)(100)%Other operating—net14 17 (3)(18)%Total other operating costs and expenses121 108 13 12 %Equity in earnings of operating affiliate4 2 2 100 %Operating earnings455 303 152 50 %Interest expense37 37 — — %Interest income(17)(30)13 43 %Other non-operating—net(2)(4)2 50 %Earnings before income taxes437 300 137 46 %Income tax provision 86 62 24 39 %Net earnings 351 238 113 47 %Less: Net earnings attributable to noncontrolling interest39 44 (5)(11)%Net earnings attributable to common stockholders$312 $194 $118 61 %Diluted net earnings per share attributable to common stockholders $1.85 $1.03 $0.82 80