Company: CF
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001324404-25-000015
Chunk: 24

Company: CF Industries Holdings, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 2
Chunk 24
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, nylon precursors and other specialty chemicals. 

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

 Three Months Ended March 31, 202520242025 v. 2024 (dollars in millions, except per ton amounts)Net sales$133 $122 $11 9 %Cost of sales78 84 (6)(7)%Gross margin$55 $38 $17 45 %Gross margin percentage41.4 %31.1 %10.3 %Sales volume by product tons (000s)530 513 17 3 %Sales volume by nutrient tons (000s)(1)106 99 7 7 %Average selling price per product ton$251 $238 $13 5 %Average selling price per nutrient ton(1)$1,255 $1,232 $23 2 %Gross margin per product ton$104 $74 $30 41 %Gross margin per nutrient ton(1)$519 $384 $135 35 %Depreciation and amortization$13 $20 $(7)(35)%Unrealized net mark-to-market gain on natural gas derivatives$— $(1)$1 100 %_______________________________________________________________________________

(1)Nutrient tons represent the tons of nitrogen within the product tons.

First Quarter of 2025 Compared to First Quarter of 2024

Net Sales.    Net sales in our Other segment increased by $11 million, or 9%, to $133 million in the three months ended March 31, 2025 from $122 million in the three months ended March 31, 2024 due to a 5% increase in average selling prices and a 3% increase in sales volume. Average selling prices increased by 5% as higher global energy costs raised the global market clearing price required to meet global demand. The increase in sales volume was due primarily to higher DEF and urea liquor sales volume, partially offset by lower nitric acid sales volume.

Cost of Sales.    Cost of sales in our Other segment averaged $147 per ton in the three months ended March 31, 2025, a 10% decrease from $164 per ton in the three months ended March 31, 2024, due primarily to lower costs for maintenance activity, partially offset by the impact of higher realized natural gas costs, including the impact of realized derivatives