Company: CF
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0001324404-25-000006
Chunk: 118

Company: CF Industries Holdings, Inc.
Filing Date: 2025-02-20
Form: 10-K
Item: Item 7
Chunk 118
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 for our UAN segment:  

 Year ended December 31, 2024202320222024 v. 20232023 v. 2022 (in millions, except as noted)Net sales$1,678 $2,068 $3,572 $(390)(19)%$(1,504)(42)%Cost of sales1,069 1,251 1,489 (182)(15)%(238)(16)%Gross margin$609 $817 $2,083 $(208)(25)%$(1,266)(61)%Gross margin percentage36.3 %39.5 %58.3 %(3.2)%(18.8)%Sales volume by product tons (000s)6,771 7,237 6,788 (466)(6)%449 7 %Sales volume by nutrient tons (000s)(1)2,142 2,283 2,148 (141)(6)%135 6 %Average selling price per product ton$248 $286 $526 $(38)(13)%$(240)(46)%Average selling price per nutrient ton(1)$783 $906 $1,663 $(123)(14)%$(757)(46)%Gross margin per product ton$90 $113 $307 $(23)(20)%$(194)(63)%Gross margin per nutrient ton(1)$284 $358 $970 $(74)(21)%$(612)(63)%Depreciation and amortization$268 $288 $269 $(20)(7)%$19 7 %Unrealized net mark-to-market (gain) loss on natural gas derivatives$(10)$(11)$14 $1 9 %$(25)N/M

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N/M—Not Meaningful

(1)UAN represents between 28% and 32% of nitrogen content, depending on the concentration specified by the customer. Nutrient tons represent the tons of nitrogen within the product tons. 

Year Ended December 31, 2024 Compared to Year Ended December 31, 2023 

Net Sales.  Net sales in our UAN segment decreased $390 million, or 19%, to $1.68 billion in 2024 compared to $2.07 billion in 2023 due primarily to a 13% decrease in average selling prices and a