For the year ending 2025-12-31, CF had $368M increase in cash & cash equivalents over the period. $1,802M in free cash flow.
| Cash Flow | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Net earnings | 1,798 | 1,477 | 1,838 | 3,937 |
| Depreciation and amortization | 898 | 925 | 869 | 850 |
| Deferred income taxes | 6 | -115 | 81 | -107 |
| Stock-based compensation expense | 45 | 36 | 37 | 41 |
| Unrealized net loss (gain) on natural gas derivatives | -5 | 35 | 39 | -41 |
| Impairment of equity method investment in plnl | 0 | 0 | 43 | - |
| Unrealized gain on embedded derivative | - | 0 | 0 | -14 |
| U.k. goodwill impairment | - | - | 0 | 0 |
| Loss on debt extinguishment | -6 | 0 | 0 | -8 |
| U.k. long-lived and intangible asset impairment | - | 0 | 0 | 239 |
| Asset impairment | 76 | - | - | - |
| Pension settlement loss | -1 | 0 | 0 | -17 |
| Gain on sale of emission credits | 8 | 47 | 39 | 6 |
| Loss on disposal of property, plant and equipment | -3 | -12 | -4 | -2 |
| Loss on sale of ince facility | -23 | - | - | - |
| Undistributed (earnings) loss of affiliatenet of taxes | 4 | 2 | -3 | 1 |
| Accounts receivablenet | 98 | -77 | -100 | 110 |
| Inventories | 88 | 28 | -152 | 93 |
| Accrued and prepaid income taxes | 38 | 1 | -44 | -227 |
| Accounts payable and accrued expenses | 72 | 44 | -88 | 1 |
| Customer advances | -41 | -11 | -100 | -471 |
| Othernet | 20 | -63 | -60 | -252 |
| Net cash provided by operating activities | 2,752 | 2,271 | 2,757 | 3,855 |
| Additions to property, plant and equipment | 950 | 518 | 499 | 453 |
| Proceeds from sale of property, plant and equipment | 6 | 3 | 1 | 1 |
| Purchase of waggaman ammonia production facility | 0 | -2 | 1,223 | - |
| Distributions received from unconsolidated affiliate | - | 0 | 0 | 6 |
| Insurance proceeds for property, plant and equipment | - | - | - | 0 |
| Purchase of investments held in nonqualified employee benefit trust | - | 2 | 1 | 1 |
| Proceeds from sale of investments held in nonqualified employee benefit trust | - | 2 | 1 | 1 |
| Proceeds from sale of ince facility | 4 | - | - | - |
| Purchase of emission credits | 1 | 3 | 2 | 9 |
| Proceeds from sale of emission credits | 8 | 47 | 39 | 15 |
| Othernet | 0 | 0 | -5 | - |
| Net cash used in investing activities | -933 | -469 | -1,679 | -440 |
| Payments of long-term borrowings | - | 0 | 0 | 507 |
| Proceeds from short-term borrowings | - | - | - | 0 |
| Proceeds from long-term borrowings | 999 | - | - | - |
| Repayments of short-term borrowings | 754 | - | - | 0 |
| Payment to chs related to credit provision | - | - | 0 | 0 |
| Financing fees | 12 | 0 | 2 | 4 |
| Dividends paid on common stock | 326 | 364 | 311 | 306 |
| Contributions from noncontrolling interests | 291 | - | - | - |
| Distributions to noncontrolling interests | 304 | 308 | 459 | 619 |
| Purchases of treasury stock | 1,365 | 1,509 | 580 | 1,347 |
| Proceeds from issuances of common stock under employee stock plans | 1 | 2 | 2 | 106 |
| Cash paid for shares withheld for taxes | 14 | 26 | 22 | 23 |
| Net cash used in financing activities | -1,484 | -2,205 | -1,372 | -2,700 |
| Effect of exchange rate changes on cash and cash equivalents | 33 | -15 | 3 | -20 |
| Increase (decrease) in cash and cash equivalents | 368 | -418 | -291 | 695 |
| Cash and cash equivalents at beginning of period | 1,614 | 2,032 | 2,323 | - |
| Cash and cash equivalents at end of period | 1,982 | 1,614 | 2,032 | - |
CF Industries Holdings, Inc. (CF)
CF Industries Holdings, Inc. (CF)