Company: CF
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001324404-25-000030
Chunk: 154

Company: CF Industries Holdings, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 8
Chunk 154
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 impact of realized derivatives, which decreased gross margin by $10 million, and a net increase in manufacturing, maintenance and other costs, which decreased gross margin by $3 million. Gross margin also includes the impact of a $1 million unrealized net mark-to-market gain on natural gas derivatives in the nine months ended September 30, 2024.

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Table of ContentsCF INDUSTRIES HOLDINGS, INC. 

Other Segment

Our Other segment primarily includes the following products:

•diesel exhaust fluid (DEF), an aqueous urea solution typically made with 32.5% or 50% high-purity urea and the remainder deionized water;

•urea liquor, a liquid product that we sell in concentrations of 40%, 50% and 70% high-purity urea as a chemical intermediate; and 

•nitric acid, a nitrogen-based mineral acid that is used in the production of nitrate-based fertilizers, nylon precursors and other specialty chemicals. 

The following table presents summary operating data for our Other segment: 

 Three Months Ended September 30,Nine Months Ended September 30, 202520242025 v. 2024202520242025 v. 2024 (dollars in millions, except per ton amounts)Net sales$140 $117 $23 20 %$398 $372 $26 7 %Cost of sales90 74 16 22 %248 225 23 10 %Gross margin$50 $43 $7 16 %$150 $147 $3 2 %Gross margin percentage35.7 %36.8 %(1.1)%37.7 %39.5 %(1.8)%Sales volume by product tons (000s)525 496 29 6 %1,521 1,566 (45)(3)%Sales volume by nutrient tons (000s)(1)106 97 9 9 %306 305 1 — %Average selling price per product ton$267 $236 $31 13 %$262 $238 $24 10 %Average selling price per nutrient ton(1)$1,321 $1,206 $115 10 %$1,301 $1,220 $81 7 %Gross margin per product ton$95 $