Company: CF
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001324404-25-000030
Chunk: 130

Company: CF Industries Holdings, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 8
Chunk 130
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37 million reduction in interest expense and $3 million of interest income.

29

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 and nine months ended September 30, 2025 and 2024: 

 Three Months Ended September 30,Nine Months Ended September 30,202520242025 v. 2024202520242025 v. 2024 (dollars in millions, except per share and per MMBtu amounts)Net sales $1,659 $1,370 $289 21 %$5,212 $4,412 $800 18 %Cost of sales (COS)1,027 926 101 11 %3,253 2,880 373 13 %Gross margin632 444 188 42 %1,959 1,532 427 28 %Gross margin percentage38.1 %32.4 %5.7 %37.6 %34.7 %2.9 %Selling, general and administrative expenses88 78 10 13 %273 242 31 13 %U.K. operations restructuring— — — — %23 — 23 N/MIntegration costs— — — — %— 4 (4)(100)%Other operating—net(30)4 (34)N/M(8)(18)10 56 %Total other operating costs and expenses58 82 (24)(29)%288 228 60 26 %Equity in earnings of operating affiliate6 2 4 200 %12 1 11 N/MOperating earnings580 364 216 59 %1,683 1,305 378 29 %Interest expense41 — 41 N/M114 74 40 54 %Interest income(23)(32)9 28 %(57)(90)33 37 %Other non-operating—net(3)(4)1 25 %(11)(8)(3)(38)%Earnings before income taxes565 400 165 41 %1,637 1,329 308 23 %Income tax provision 105 59 46 78 %334