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CF Industries Cash Flow Statement

Operating, investing, and financing cash movements

CF Industries generated $2.7B in operating cash flow over the trailing twelve months. After $1.0B in capital expenditures, free cash flow was $1.6B. Free cash flow decreased 0.1% year-over-year. Based on the Q1 2026 filing.

Net Cash From Operating (TTM)$2.7BNet Cash From Investing (TTM)-$1.0BNet Cash From Financing (TTM)-$1.0BCapital Expenditures (TTM)$1.0BDepreciation And Amortization Cf (TTM)$905.0MNet Change In Cash (TTM)$636.0M
Latest FilingQ1 2026
Report Date2026-05-07
Market Cap$16.4B
P/E Ratio7.71
ROE41.95%

Investing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Capital expenditures$197M$132M$245M$347M$226M$223M
Proceeds from disposals of property, plant and equipment$3M$2M$4M——$0
Net cash from investing activities-$196M-$126M-$242M-$339M-$226M-$225M
Proceeds from sale of businesses$0$4M———$0
Proceeds from sale of property, plant and equipment$3M$2M$4M——$0

Operating

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Change in accounts payable$53M$16M—$56M$12M-$75M
Change in accounts receivable-$75M$177M$1M$37M—$239M
Change in deferred revenue-$229M$123M-$209M$444M-$399M$55M
Change in income taxes payable/receivable—$89M$6M—$19M$144M
Change in inventories$19M$43M—$48M$34M-$2M
Other working capital changes-$17M$0$20M—$7M-$92M
Deferred income taxes-$46M-$26M-$12M$51M—-$12M
Depreciation and amortization$221M$221M$232M$217M$228M$228M
Net gains (losses) on investments—$4M$2M$1M—$6M
Gain (loss) on sale of assets$0-$23M———$0
Net cash from operating activities$420M$586M$563M$1.1B$539M$496M
Net income$392M$351M$492M$460M$495M$676M
Defined Benefit Plan Recognized Net Gain Loss Due To Settlements And Curtailments1$0-$250K-$250K-$250K-$250K—
Gain on sale of business and assets$0-$23M———$0
Gain (Loss) from Litigation Settlement—$0———$170M
Gain on sale of emission credits$11.8M$2M$2M$2M$2M—
Deferred revenue-$229M$123M-$209M$444M-$399M$55M
Insurance Recoveries—$0———$25M
Impairment of assets and other charges$0$19M$19M$19M$19M—
Unrealized Gain (Loss) on Derivatives Fair Value, Adjustment$2M-$2M——-$4M$3M
Stock-based compensation$10M$10M$12M$13M$10M$11M

Financing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Contributions from noncontrolling interests$0$0$235M$56M$0$117M
Distributions to noncontrolling interests—$129M—$175M—$201M
Dividends paid$86M$86M$81M$81M$78M$78M
Net cash from financing activities-$462M-$671M-$62M-$562M-$189M-$199M
Proceeds from issuance of common stock—$1M———$1M
Repurchases of common stock$375M$444M$216M$360M$345M$28M
Taxes paid for net share settlement$1M$13M—$1M—$10M

Free Cash Flow

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Free cash flow$223M$454M$318M$717M$313M$273M

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Effect of exchange rate changes on cash-$25M$3M$21M—$20M-$12M
Net increase (decrease) in cash-$263M-$208M$280M$152M$144M$60M
Payments to Acquire Emission Credits$1M$0$1M——$2M