You should read the following discussion and analysis in conjunction withour annual consolidated financial statements and related notes and ourdiscussion and analysis of financial condition and results of operations, whichwere included in our Annual Report on Form 10-K for the fiscal year endedDecember 31, 2021, filed with the Securities and Exchange Commission onFebruary 24, 2022, as well as Item 1. Financial Statements in this QuarterlyReport on Form 10-Q. All references to \"CF Holdings,\" \"we,\" \"us,\" \"our\" and \"theCompany\" refer to CF Industries Holdings, Inc. and its subsidiaries, exceptwhere the context makes clear that the reference is only to CF IndustriesHoldings, Inc. itself and not its subsidiaries. All references to\"CF Industries\" refer to CF Industries, Inc., a 100% owned subsidiary ofCF Industries Holdings, Inc. References to tons refer to short tons, andreferences to tonnes refer to metric tons. Notes referenced in this discussionand analysis refer to the notes to our unaudited interim consolidated financialstatements in Item 1. Financial Statements in this Quarterly Report on Form10-Q. The following is an outline of the discussion and analysis includedherein:Overview of CF HoldingsOur Company<\/p>\n
Our Commitment to a Clean Energy Economy<\/p>\n
Market Conditions and Current Developments<\/p>\n
Financial Executive Summary<\/p>\n
Items Affecting Comparability of Results<\/p>\n
Consolidated Results of Operations<\/p>\n
Operating Results by Business Segment<\/p>\n
Liquidity and Capital Resources<\/p>\n
Critical Accounting Estimates<\/p>\n
Our principal assets as of March 31, 2022 include:<\/p>\n
two Canadian nitrogen manufacturing facilities located in Medicine Hat, Alberta(the largest nitrogen complex in Canada) and Courtright, Ontario;<\/p>\n
two United Kingdom nitrogen manufacturing facilities located in Billingham andInce;<\/p>\n
an extensive system of terminals and associated transportation equipmentlocated primarily in the Midwestern United States; and<\/p>\n
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Our Commitment to a Clean Energy Economy<\/p>\n
Market Conditions and Current Developments<\/p>\n
Geopolitical Environment<\/p>\n
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Table of Contents<\/p>\n
Nitrogen Selling Prices<\/p>\n
Natural Gas<\/p>\n
Three Months Ended March 31,<\/p>\n
Natural gas supplemental data (per MMBtu)<\/p>\n
Average daily market price of natural gas National BalancingPoint (United Kingdom)<\/p>\n
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United Kingdom Energy Crisis<\/p>\n
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Table of Contents<\/p>\n
Financial Executive Summary<\/p>\n
Items Affecting Comparability of Results<\/p>\n
$ (33) $ (25) $ (6) $ (5)<\/p>\n
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Unrealized net mark-to-market gain on natural gas derivatives<\/p>\n
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Loss on foreign currency transactions, including intercompany loans<\/p>\n
Canada Revenue Agency Competent Authority Matter<\/p>\n
Transfer pricing reserves<\/p>\n
liabilities for unrecognized tax benefits of $319 million with a correspondingincome tax provision, and accrued interest of $91 million related to theliabilities for unrecognized tax benefits, and<\/p>\n
noncurrent income tax receivables of $329 million with a corresponding incometax benefit, and accrued interest income of $28 million related to thenoncurrent income tax receivables.<\/p>\n
In the three months ended March 31, 2022, the impact of this evaluation oftransfer pricing positions on our consolidated statement of operations,including a $12 million deferred income tax provision for other transfer pricingtax effects, was a $2 million income tax provision and $63 million of netinterest expense before tax ($69 million after tax).<\/p>\n
Loss on debt extinguishment<\/p>\n
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Table of Contents<\/p>\n
Edgar Online, source Glimpses<\/p>\n
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CF INDUSTRIES HOLDINGS, INC. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS. (form 10-Q) - Marketscreener.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" You should read the following discussion and analysis in conjunction withour annual consolidated financial statements and related notes and ourdiscussion and analysis of financial condition and results of operations, whichwere included in our Annual Report on Form 10-K for the fiscal year endedDecember 31, 2021, filed with the Securities and Exchange Commission onFebruary 24, 2022, as well as Item 1. Continue reading