CF Industries Holdings, Inc. (CF)
NYSE: CF · Real-Time Price · USD
115.01
+0.47 (0.41%)
At close: Oct 2, 2026, 4:00 PM EDT
115.07
+0.06 (0.05%)
After-hours: Oct 2, 2026, 7:44 PM EDT
CF Industries Holdings Cash Flow Statement
Financials in millions USD. Fiscal year is January - December.
Millions USD. Fiscal year is Jan - Dec.
Operating Activities
Fiscal Quarter | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 | Q3 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Mar '26 Mar 31, 2026 | Dec '25 Dec 31, 2025 | Sep '25 Sep 30, 2025 | Jun '25 Jun 30, 2025 | Mar '25 Mar 31, 2025 | Dec '24 Dec 31, 2024 | Sep '24 Sep 30, 2024 | Jun '24 Jun 30, 2024 | Mar '24 Mar 31, 2024 | Dec '23 Dec 31, 2023 | Sep '23 Sep 30, 2023 | Jun '23 Jun 30, 2023 | Mar '23 Mar 31, 2023 | Dec '22 Dec 31, 2022 | Sep '22 Sep 30, 2022 | Jun '22 Jun 30, 2022 | Mar '22 Mar 31, 2022 | Dec '21 Dec 31, 2021 | Sep '21 Sep 30, 2021 |
Net Income | 2,099 | 1,758 | 1,455 | 1,379 | 1,302 | 1,336 | 1,218 | 1,164 | 1,052 | 1,159 | 1,525 | 2,111 | 2,385 | 3,023 | 3,346 | 3,191 | 2,568 | 1,649 | 917 | 299 |
Depreciation & Amortization | 888 | 905 | 898 | 891 | 903 | 893 | 925 | 933 | 917 | 916 | 869 | 838 | 846 | 848 | 850 | 890 | 872 | 892 | 888 | 880 |
Loss (Gain) From Sale of Assets | 3 | -4 | 18 | 22 | 30 | -16 | -35 | -40 | -41 | 5 | -35 | -34 | -36 | -39 | -4 | -34 | -51 | -47 | -46 | -16 |
Asset Writedown & Restructuring Costs | 99 | 76 | 76 | - | - | - | - | - | - | - | - | - | 87 | 239 | 239 | 265 | 673 | 521 | 521 | 495 |
Loss (Gain) From Sale of Investments | - | - | - | - | - | - | - | - | 43 | 43 | 43 | 43 | - | - | - | - | - | - | - | - |
Loss (Gain) on Equity Investments | -1 | -6 | -4 | -8 | -9 | -4 | -2 | 4 | 4 | 8 | 3 | 7 | 2 | -6 | -1 | -1 | -5 | 4 | -6 | -14 |
Stock-Based Compensation | 43 | 46 | 45 | 45 | 39 | 33 | 36 | 34 | 37 | 38 | 37 | 38 | 38 | 43 | 41 | 39 | 36 | 32 | 30 | 28 |
Other Operating Activities | 208 | 125 | 381 | 278 | 187 | 62 | 46 | 340 | 328 | 362 | 295 | 101 | 187 | 395 | 536 | 522 | 490 | 313 | 192 | 206 |
Change in Accounts Receivable | -153 | -160 | -98 | -140 | -56 | -50 | 77 | -63 | -143 | -51 | 100 | 300 | 327 | 176 | -110 | -365 | -337 | -413 | -235 | -141 |
Change in Inventory | -110 | -43 | -88 | -73 | -28 | -91 | -28 | 13 | 6 | 133 | 152 | 168 | 146 | 12 | -93 | -134 | -213 | -101 | -123 | -122 |
Change in Accounts Payable | 2 | -19 | 72 | 113 | 74 | 83 | 44 | 19 | 24 | 24 | -88 | -226 | -360 | -210 | 1 | 184 | 280 | 182 | 142 | 96 |
Change in Unearned Revenue | -21 | -109 | -41 | 129 | 25 | 137 | -11 | 65 | -2 | -180 | -100 | -230 | -63 | -314 | -471 | 137 | 63 | 257 | 570 | 231 |
Change in Income Taxes | -80 | 93 | 38 | -3 | 33 | 29 | 1 | -78 | -147 | -136 | -44 | -2 | -73 | -461 | -227 | 58 | 106 | 403 | 94 | -174 |
Change in Other Net Operating Assets | - | - | - | - | - | - | - | -60 | -60 | -66 | - | -252 | -252 | -295 | -252 | -2 | -35 | -6 | -71 | -85 |
Operating Cash Flow | 2,977 | 2,662 | 2,752 | 2,633 | 2,500 | 2,412 | 2,271 | 2,331 | 2,018 | 2,255 | 2,757 | 2,862 | 3,234 | 3,411 | 3,855 | 4,750 | 4,447 | 3,686 | 2,873 | 1,683 |
Operating Cash Flow Growth (YoY) | 19.08% | 10.37% | 21.18% | 12.96% | 23.89% | 6.96% | -17.63% | -18.55% | -37.60% | -33.89% | -28.48% | -39.75% | -27.28% | -7.46% | 34.18% | 182.23% | 264.81% | 142.98% | 133.39% | 35.40% |
Investing Activities
Fiscal Quarter | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 | Q3 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Mar '26 Mar 31, 2026 | Dec '25 Dec 31, 2025 | Sep '25 Sep 30, 2025 | Jun '25 Jun 30, 2025 | Mar '25 Mar 31, 2025 | Dec '24 Dec 31, 2024 | Sep '24 Sep 30, 2024 | Jun '24 Jun 30, 2024 | Mar '24 Mar 31, 2024 | Dec '23 Dec 31, 2023 | Sep '23 Sep 30, 2023 | Jun '23 Jun 30, 2023 | Mar '23 Mar 31, 2023 | Dec '22 Dec 31, 2022 | Sep '22 Sep 30, 2022 | Jun '22 Jun 30, 2022 | Mar '22 Mar 31, 2022 | Dec '21 Dec 31, 2021 | Sep '21 Sep 30, 2021 |
Capital Expenditures | -1,067 | -1,041 | -950 | -921 | -713 | -552 | -518 | -509 | -517 | -528 | -499 | -445 | -488 | -459 | -453 | -451 | -462 | -506 | -514 | -485 |
Sale of Property, Plant & Equipment | 1 | 4 | 6 | 9 | 9 | 5 | 3 | - | - | 1 | 1 | 1 | 1 | - | 1 | 2 | 2 | 2 | 1 | - |
Cash Acquisitions | - | - | - | - | - | 2 | 2 | -1,221 | -1,221 | -1,223 | -1,223 | - | - | - | - | - | - | - | - | - |
Divestitures | - | - | 4 | 4 | 4 | 4 | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Investment in Securities | - | - | - | - | - | - | - | - | - | - | - | 2 | 2 | 6 | 6 | 4 | 4 | - | - | 5 |
Other Investing Activities | 27 | 5 | 7 | 5 | -3 | 46 | 44 | 49 | 52 | 5 | 42 | 39 | 39 | 41 | 6 | 54 | 51 | 47 | 47 | -1 |
Investing Cash Flow | -1,039 | -1,032 | -933 | -903 | -703 | -495 | -469 | -1,681 | -1,686 | -1,745 | -1,679 | -403 | -446 | -412 | -440 | -391 | -405 | -457 | -466 | -481 |
Financing Activities
Fiscal Quarter | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 | Q3 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Mar '26 Mar 31, 2026 | Dec '25 Dec 31, 2025 | Sep '25 Sep 30, 2025 | Jun '25 Jun 30, 2025 | Mar '25 Mar 31, 2025 | Dec '24 Dec 31, 2024 | Sep '24 Sep 30, 2024 | Jun '24 Jun 30, 2024 | Mar '24 Mar 31, 2024 | Dec '23 Dec 31, 2023 | Sep '23 Sep 30, 2023 | Jun '23 Jun 30, 2023 | Mar '23 Mar 31, 2023 | Dec '22 Dec 31, 2022 | Sep '22 Sep 30, 2022 | Jun '22 Jun 30, 2022 | Mar '22 Mar 31, 2022 | Dec '21 Dec 31, 2021 | Sep '21 Sep 30, 2021 |
Long-Term Debt Issued | - | - | 999 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Total Debt Issued | 999 | 999 | 999 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Short-Term Debt Repaid | - | - | -754 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Long-Term Debt Repaid | - | - | - | - | - | - | - | - | - | - | - | - | - | - | -507 | - | - | - | -518 | - |
Total Debt Repaid | -754 | -754 | -754 | - | - | - | - | - | - | - | - | - | - | -507 | -507 | -507 | -770 | -263 | -518 | -518 |
Net Debt Issued (Repaid) | 245 | 245 | 245 | - | - | - | - | - | - | - | - | - | - | -507 | -507 | -507 | -770 | -263 | -518 | -518 |
Issuance of Common Stock | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 3 | 2 | 3 | 2 | 1 | 6 | 9 | 106 | 138 | 139 | 154 | 64 | 33 |
Repurchase of Common Stock | -969 | -960 | -1,379 | -1,410 | -1,541 | -1,630 | -1,535 | -1,384 | -1,042 | -888 | -602 | -628 | -997 | -1,325 | -1,370 | -1,608 | -1,140 | -661 | -550 | -61 |
Common Dividends Paid | -314 | -318 | -326 | -334 | -343 | -353 | -364 | -354 | -341 | -329 | -311 | -314 | -317 | -321 | -306 | -292 | -277 | -259 | -260 | -260 |
Other Financing Activities | -99 | 20 | -25 | -14 | -58 | -293 | -308 | -310 | -350 | -350 | -461 | -459 | -627 | -627 | -623 | -628 | -386 | -386 | -199 | -199 |
Financing Cash Flow | -1,136 | -1,012 | -1,484 | -1,757 | -1,940 | -2,274 | -2,205 | -2,045 | -1,731 | -1,564 | -1,372 | -1,400 | -1,935 | -2,771 | -2,700 | -2,897 | -2,434 | -1,415 | -1,463 | -1,005 |
Net Cash Flow
Fiscal Quarter | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 | Q3 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Mar '26 Mar 31, 2026 | Dec '25 Dec 31, 2025 | Sep '25 Sep 30, 2025 | Jun '25 Jun 30, 2025 | Mar '25 Mar 31, 2025 | Dec '24 Dec 31, 2024 | Sep '24 Sep 30, 2024 | Jun '24 Jun 30, 2024 | Mar '24 Mar 31, 2024 | Dec '23 Dec 31, 2023 | Sep '23 Sep 30, 2023 | Jun '23 Jun 30, 2023 | Mar '23 Mar 31, 2023 | Dec '22 Dec 31, 2022 | Sep '22 Sep 30, 2022 | Jun '22 Jun 30, 2022 | Mar '22 Mar 31, 2022 | Dec '21 Dec 31, 2021 | Sep '21 Sep 30, 2021 |
Foreign Exchange Rate Adjustments | -8 | 18 | 33 | -12 | 10 | -10 | -15 | 18 | -1 | 2 | 3 | 3 | -4 | -20 | -20 | -27 | -15 | -1 | 1 | 7 |
Net Cash Flow | 794 | 636 | 368 | -39 | -133 | -367 | -418 | -1,377 | -1,400 | -1,052 | -291 | 1,062 | 849 | 208 | 695 | 1,435 | 1,593 | 1,813 | 945 | 204 |
Free Cash Flow
Fiscal Quarter | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 | Q3 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Mar '26 Mar 31, 2026 | Dec '25 Dec 31, 2025 | Sep '25 Sep 30, 2025 | Jun '25 Jun 30, 2025 | Mar '25 Mar 31, 2025 | Dec '24 Dec 31, 2024 | Sep '24 Sep 30, 2024 | Jun '24 Jun 30, 2024 | Mar '24 Mar 31, 2024 | Dec '23 Dec 31, 2023 | Sep '23 Sep 30, 2023 | Jun '23 Jun 30, 2023 | Mar '23 Mar 31, 2023 | Dec '22 Dec 31, 2022 | Sep '22 Sep 30, 2022 | Jun '22 Jun 30, 2022 | Mar '22 Mar 31, 2022 | Dec '21 Dec 31, 2021 | Sep '21 Sep 30, 2021 |
Free Cash Flow | 1,910 | 1,621 | 1,802 | 1,712 | 1,787 | 1,860 | 1,753 | 1,822 | 1,501 | 1,727 | 2,258 | 2,417 | 2,746 | 2,952 | 3,402 | 4,299 | 3,985 | 3,180 | 2,359 | 1,198 |
Free Cash Flow Growth (YoY) | 6.88% | -12.85% | 2.79% | -6.04% | 19.05% | 7.70% | -22.36% | -24.62% | -45.34% | -41.50% | -33.63% | -43.78% | -31.09% | -7.17% | 44.21% | 258.85% | 369.93% | 164.12% | 155.86% | 28.82% |
Free Cash Flow Margin | 24.68% | 21.88% | 25.44% | 25.42% | 27.72% | 30.35% | 29.53% | 30.45% | 25.50% | 28.36% | 34.05% | 31.52% | 31.50% | 28.58% | 30.41% | 38.67% | 39.23% | 38.05% | 36.08% | 23.49% |
Free Cash Flow Per Share | 12.22 | 10.22 | 11.11 | 10.28 | 10.46 | 10.58 | 9.70 | 9.85 | 7.96 | 9.01 | 11.65 | 12.36 | 13.91 | 14.69 | 16.66 | 20.59 | 18.73 | 14.81 | 10.91 | 5.55 |
Levered Free Cash Flow | 1,277 | 1,076 | 1,308 | 1,350 | 1,576 | 1,634 | 1,586 | 1,499 | 1,218 | 1,360 | 1,862 | 2,369 | 2,592 | 2,618 | 2,879 | 3,589 | 3,223 | 2,735 | 2,145 | 958.63 |
Unlevered Free Cash Flow | 1,384 | 1,175 | 1,405 | 1,451 | 1,651 | 1,710 | 1,661 | 1,567 | 1,311 | 1,452 | 1,955 | 2,425 | 2,653 | 2,708 | 3,094 | 3,848 | 3,481 | 2,971 | 2,260 | 1,070 |
Additional Metrics
Fiscal Quarter | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 | Q3 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Mar '26 Mar 31, 2026 | Dec '25 Dec 31, 2025 | Sep '25 Sep 30, 2025 | Jun '25 Jun 30, 2025 | Mar '25 Mar 31, 2025 | Dec '24 Dec 31, 2024 | Sep '24 Sep 30, 2024 | Jun '24 Jun 30, 2024 | Mar '24 Mar 31, 2024 | Dec '23 Dec 31, 2023 | Sep '23 Sep 30, 2023 | Jun '23 Jun 30, 2023 | Mar '23 Mar 31, 2023 | Dec '22 Dec 31, 2022 | Sep '22 Sep 30, 2022 | Jun '22 Jun 30, 2022 | Mar '22 Mar 31, 2022 | Dec '21 Dec 31, 2021 | Sep '21 Sep 30, 2021 |
Cash Interest Paid | 137 | 137 | 137 | 118 | 118 | 118 | 118 | 145 | 145 | 145 | 145 | 257 | 257 | 257 | 257 | 176 | 176 | 176 | 176 | 184 |
Cash Income Tax Paid | 321 | 321 | 321 | 410 | 410 | 410 | 410 | 373 | 373 | 373 | 373 | 1,776 | 1,776 | 1,776 | 1,776 | 430 | 430 | 430 | 430 | 111 |
Change in Working Capital | -362 | -238 | -117 | 26 | 48 | 108 | 83 | -104 | -322 | -276 | 20 | -242 | -275 | -1,092 | -1,152 | -122 | -136 | 322 | 377 | -195 |