CF · 10-Q · 2026Q2 · Full report
Liquidity and Cash Position
CF Industries Holdings, Inc. · 2026-08-06 · Importance 52 · Surprise 30 · From source text
Cash and cash equivalents increased $498 million to $2.48 billion at June 30, 2026, from $1.98 billion at December 31, 2025. The company had $750 million of unused borrowing capacity under its revolving credit agreement and remained compliant with all applicable debt covenants. Net cash provided by operating activities increased $225 million to $1.37 billion in the first six months of 2026, including $170 million of litigation settlement proceeds and $50 million of Yazoo City business-interruption insurance proceeds. Liquidity was partly reduced by approximately $194 million of Canadian income tax deposits during the period.
Key facts
- On July 31, 2026, the CFN Board approved semi-annual distribution payments for the distribution period ended June 30, 2026, and CFN distributed $246 million to CHS for this distribution period. source
- Net cash used in financing activities was $385 million in the first six months of 2026 compared to $733 million in the first six months of 2025. source
- Net cash provided by operating activities during the first six months of 2026 was $1.37 billion, an increase of $225 million compared to $1.15 billion in the first six months of 2025. source
- Net cash used in investing activities was $474 million in the first six months of 2026 compared to $368 million in the first six months of 2025. source
- Of the Blue Point One joint venture’s $600 million planned 2026 capital expenditures, approximately $240 million will be funded by us (40%) and approximately $360 million will be funded by our partners (60%). source
- Interest income Q2 2026: $26 million vs $17 million in Q2 2025; increase of $9 million due primarily to interest accrued on income tax receivables and returns on higher average cash balances. source
- On January 30, 2026, CFN distributed $201 million to CHS for the distribution period ended December 31, 2025. source
- Interest income Jan–Jun 2026: $46 million vs $34 million in prior year; increase of $12 million due primarily to interest accrued on income tax receivables and returns on higher average cash balances. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| cash | negative | realized | -2.5% | Net cash used in financing activities was $385 million in the first six months of 2026 compared to $733 million in the first six months of… |
| cash | positive | realized | +1.9% | Cash and cash equivalents excluding amounts related to Blue Point Number One, LLC were $2,139 million as of June 30, 2026 and $1,852… |
| cash | negative | realized | -1.6% | On July 31, 2026, the CFN Board approved semi-annual distribution payments for the distribution period ended June 30, 2026, and CFN… |
| cash | positive | realized | +1.5% | Net cash provided by operating activities during the first six months of 2026 was $1.37 billion, an increase of $225 million compared to… |
| cash | negative | committed | -1.4% | Of the Blue Point One joint venture’s $600 million planned 2026 capital expenditures, approximately $240 million will be funded by us… |
| assets | positive | committed | +1.4% | Of the Blue Point One joint venture’s $600 million planned 2026 capital expenditures, approximately $240 million will be funded by us… |
| cash | negative | realized | -1.3% | On January 30, 2026, CFN distributed $201 million to CHS for the distribution period ended December 31, 2025. |
| cash | negative | realized | -0.7% | Net cash used in investing activities was $474 million in the first six months of 2026 compared to $368 million in the first six months of… |
| net_income | positive | realized | +0.5% | Interest income Jan–Jun 2026: $46 million vs $34 million in prior year; increase of $12 million due primarily to interest accrued on… |
| net_income | positive | realized | +0.4% | Interest income Q2 2026: $26 million vs $17 million in Q2 2025; increase of $9 million due primarily to interest accrued on income tax… |