Company: CF
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001324404-25-000024
Chunk: 37

Company: CF Industries Holdings, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 2
Chunk 37
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 an increase in realized natural gas costs, including the impact of realized derivatives, which reduced gross margin by $9 million. Gross margin also includes the impact of a $1 million unrealized net mark-to-market gain on natural gas derivatives in the six months ended June 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 June 30,Six Months Ended June 30, 202520242025 v. 2024202520242025 v. 2024 (dollars in millions, except per ton amounts)Net sales$125 $133 $(8)(6)%$258 $255 $3 1 %Cost of sales80 67 13 19 %158 151 7 5 %Gross margin$45 $66 $(21)(32)%$100 $104 $(4)(4)%Gross margin percentage36.0 %49.6 %(13.6)%38.8 %40.8 %(2.0)%Sales volume by product tons (000s)466 557 (91)(16)%996 1,070 (74)(7)%Sales volume by nutrient tons (000s)(1)94 109 (15)(14)%200 208 (8)(4)%Average selling price per product ton$268 $239 $29 12 %$259 $238 $21 9 %Average selling price per nutrient ton(1)$1,330 $1,220 $110 9 %$1,290 $1,226 $64 5 %Gross margin per product ton$97 $118 $(21)(18)%$100 $97 $3 3