CF Industries (CF) 10-Q 5 May 22 2022 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2022	May 02, 2022
Document and Entity Information
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2022
Document Transition Report	false
Entity File Number	001-32597
Entity Registrant Name	CF INDUSTRIES HOLDINGS, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	20-2697511
Entity Address, Address Line One	4 Parkway North
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60015
Entity Address, City or Town	Deerfield,
City Area Code	847
Local Phone Number	405-2400
Title of 12(b) Security	common stock, par value $0.01 per share
Trading Symbol	CF
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		208,601,720
Entity Central Index Key	0001324404
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income Statement [Abstract]
Net sales	$ 2,868	$ 1,048
Cost of sales	1,170	759
Gross margin	1,698	289
Selling, general and administrative expenses	64	55
Other operating—net	2	(2)
Total other operating costs and expenses	66	53
Equity in earnings of operating affiliate	26	11
Operating earnings	1,658	247
Interest expense	241	48
Interest income	(36)	0
Loss on debt extinguishment	0	6
Other non-operating—net	(1)	0
Earnings before income taxes	1,452	193
Income tax provision (benefit)	401	18
Net earnings	1,051	175
Less: Net earnings attributable to noncontrolling interest	168	24
Net earnings attributable to common stockholders	$ 883	$ 151
Net earnings per share attributable to common stockholders:
Basic (in dollars per share)	$ 4.23	$ 0.70
Diluted (in dollars per share)	$ 4.21	$ 0.70
Weighted average common shares outstanding:
Basic (in shares)	208.6	214.9
Diluted (in shares)	209.9	216
Dividends declared per common share (in dollars per share)	$ 0.30	$ 0.30

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Statement of Comprehensive Income [Abstract]
Net earnings	$ 1,051	$ 175
Other comprehensive (loss) income:
Foreign currency translation adjustment—net of taxes	(13)	14
Defined benefit plans—net of taxes	4	1
Total other comprehensive income	(9)	15
Comprehensive income	1,042	190
Less: Comprehensive income attributable to noncontrolling interest	168	24
Comprehensive income attributable to common stockholders	$ 874	$ 166

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 2,617	$ 1,628
Accounts receivable—net	679	497
Inventories	488	408
Prepaid income taxes	0	4
Other current assets	42	56
Total current assets	3,826	2,593
Property, plant and equipment—net	6,906	7,081
Investment in affiliate	84	82
Goodwill	2,091	2,091
Operating lease right-of-use assets	236	243
Other assets	639	285
Total assets	13,782	12,375
Current liabilities:
Accounts payable and accrued expenses	629	565
Income taxes payable	408	24
Customer advances	598	700
Current operating lease liabilities	88	89
Current maturities of long-term debt	499	0
Other current liabilities	6	54
Total current liabilities	2,228	1,432
Long-term debt, net of current maturities	2,963	3,465
Deferred Income Tax Liabilities, Net	1,028	1,029
Operating lease liabilities	152	162
Other liabilities	658	251
Stockholders’ equity:
Preferred stock—$0.01 par value, 50,000,000 shares authorized	0	0
Common stock—$0.01 par value, 500,000,000 shares authorized, 2022—210,569,780 shares issued and 2021—207,603,940 shares issued	2	2
Paid-in capital	1,482	1,375
Retained earnings	2,907	2,088
Treasury stock—at cost, 2022—1,563,679 shares and 2021—27,962 shares	(123)	(2)
Accumulated other comprehensive loss	(266)	(257)
Total stockholders’ equity	4,002	3,206
Noncontrolling interest	2,751	2,830
Total equity	6,753	6,036
Total liabilities and equity	$ 13,782	$ 12,375
Preferred Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01
Common Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01
Common Stock, Shares Authorized	500,000,000	500,000,000
Common Stock, Shares, Issued	210,569,780	207,603,940
Treasury Stock, Shares	1,563,679	27,962

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Preferred Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01
Preferred Stock, Shares Authorized	50,000,000	50,000,000
Common Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01
Common Stock, Shares Authorized	500,000,000	500,000,000
Common Stock, Shares, Issued	210,569,780	207,603,940

CONSOLIDATED STATEMENTS OF EQUI

CONSOLIDATED STATEMENTS OF EQUITY - USD ($) $ in Millions	Total	$0.01 Par Value Common Stock	Treasury Stock	Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive Loss	Total Stockholders’ Equity	Noncontrolling Interest
Balance at Dec. 31, 2020	$ 5,603	$ 2	$ (4)	$ 1,317	$ 1,927	$ (320)	$ 2,922	$ 2,681
Increase (decrease) in equity
Net earnings	175	0	0	0	151	0	151	24
Less: Net earnings attributable to noncontrolling interest	24
Net earnings attributable to common stockholders	151
Other comprehensive loss	15	0	0	0	0	15	15	0
Acquisition of treasury stock under employee stock plans	(10)	0	(10)	0	0	0	(10)	0
Issuance of $0.01 par value common stock under employee stock plans	8	0	0	8	0	0	8	0
Stock-based compensation expense	8	0	0	8	0	0	8	0
Cash dividends	(65)	0	0	0	(65)	0	(65)	0
Distribution declared to noncontrolling interest	(64)	0	0	0	0	0	0	(64)
Balance at Mar. 31, 2021	5,670	2	(14)	1,333	2,013	(305)	3,029	2,641
Balance at Dec. 31, 2021	6,036	2	(2)	1,375	2,088	(257)	3,206	2,830
Increase (decrease) in equity
Net earnings	1,051	0	0	0	883	0	883	168
Less: Net earnings attributable to noncontrolling interest	168
Net earnings attributable to common stockholders	883
Other comprehensive loss	(9)	0	0	0	0	(9)	(9)	0
Purchases of treasury stock	(100)	0	(100)	0	0	0	(100)	0
Retirement of treasury stock	2	0	(2)	0	0	0	(2)	0
Acquisition of treasury stock under employee stock plans	(23)	0	(23)	0	0	0	(23)	0
Issuance of $0.01 par value common stock under employee stock plans	97	0	0	97	0	0	97	0
Stock-based compensation expense	10	0	0	10	0	0	10	0
Cash dividends	(64)	0	0	0	(64)	0	(64)	0
Distribution declared to noncontrolling interest	(247)	0	0	0	0	0	0	(247)
Balance at Mar. 31, 2022	$ 6,753	$ 2	$ (123)	$ 1,482	$ 2,907	$ (266)	$ 4,002	$ 2,751

CONSOLIDATED STATEMENTS OF EQ_2

CONSOLIDATED STATEMENTS OF EQUITY (Parenthetical)	3 Months Ended
	Mar. 31, 2021$ / shares
Statement of Stockholders' Equity [Abstract]
Common Stock, Par or Stated Value Per Share	$ 0.01
Cash dividends ($0.30 per share)	$ 0.30

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Operating Activities:
Net earnings	$ 1,051	$ 175
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization	208	204
Deferred income taxes	(2)	(12)
Stock-based compensation expense	10	8
Loss on debt extinguishment	0	6
Unrealized net gain on natural gas derivatives	(33)	(6)
Loss on disposal of property, plant and equipment	0	1
Undistributed earnings of affiliate—net of taxes	(2)	(12)
Changes in:
Accounts receivable—net	(185)	(7)
Inventories	(66)	(88)
Accrued and prepaid income taxes	387	78
Accounts payable and accrued expenses	76	36
Customer advances	(102)	211
Other—net	49	(16)
Net cash provided by operating activities	1,391	578
Investing Activities:
Additions to property, plant and equipment	(63)	(71)
Proceeds from sale of property, plant and equipment	1	0
Purchase of U.K. emission credits	(9)	0
Proceeds from sale of EU emission credits	9	0
Net cash used in investing activities	(62)	(71)
Financing Activities:
Repayments of Long-term Debt	0	(255)
Payments of Financing Costs	(4)	0
Dividends paid on common stock	(64)	(65)
Distributions to noncontrolling interest	(247)	(64)
Purchases of treasury stock	(98)	0
Proceeds from issuances of common stock under employee stock plans	97	7
Shares withheld for taxes	(23)	(10)
Net cash provided by (used in) financing activities	(339)	(387)
Effect of exchange rate changes on cash and cash equivalents	(1)	1
Increase in cash and cash equivalents	989	121
Cash and cash equivalents at beginning of period	1,628	683
Cash and cash equivalents at end of period	$ 2,617	$ 804

Background and Basis of Present

Background and Basis of Presentation	3 Months Ended
	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Background and Basis of Presentation	Background and Basis of Presentation Our mission is to provide clean energy to feed and fuel the world sustainably. With our employees focused on safe and reliable operations, environmental stewardship, and disciplined capital and corporate management, we are on a path to decarbonize our ammonia production network – the world’s largest – to enable green and blue hydrogen and nitrogen products for energy, fertilizer, emissions abatement and other industrial activities. Our nine nitrogen manufacturing complexes in the United States, Canada and the United Kingdom, an extensive storage, transportation and distribution network in North America, and logistics capabilities enabling a global reach underpin our strategy to leverage our unique capabilities to accelerate the world’s transition to clean energy. Our principal customers are cooperatives, independent fertilizer distributors, traders, wholesalers and industrial users. Our core product is anhydrous ammonia (ammonia), which contains 82% nitrogen and 18% hydrogen. Our nitrogen products that are upgraded from ammonia are granular urea, urea ammonium nitrate solution (UAN) and ammonium nitrate (AN). Our other nitrogen products include diesel exhaust fluid (DEF), urea liquor, nitric acid and aqua ammonia, which are sold primarily to our industrial customers, and compound fertilizer products (NPKs), which are solid granular fertilizer products for which the nutrient content is a combination of nitrogen, phosphorus and potassium. All references to “CF Holdings,” “the Company,” “we,” “us” and “our” refer to CF Industries Holdings, Inc. and its subsidiaries, except where the context makes clear that the reference is only to CF Industries Holdings, Inc. itself and not its subsidiaries. All references to “CF Industries” refer to CF Industries, Inc., a 100% owned subsidiary of CF Industries Holdings, Inc. The accompanying unaudited interim consolidated financial statements have been prepared on the same basis as our audited consolidated financial statements for the year ended December 31, 2021, in accordance with U.S. generally accepted accounting principles (GAAP) for interim financial reporting. In the opinion of management, these statements reflect all adjustments, consisting only of normal and recurring adjustments, that are necessary for the fair representation of the information for the periods presented. The accompanying unaudited interim consolidated financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (SEC). Certain information and disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to such rules and regulations. Operating results for any period presented apply to that period only and are not necessarily indicative of results for any future period.

Revenue Recognition

Revenue Recognition	3 Months Ended
	Mar. 31, 2022
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition We track our revenue by product and by geography. See Note 17—Segment Disclosures for our revenue by reportable segment, which are Ammonia, Granular Urea, UAN, AN and Other. The following table summarizes our revenue by product and by geography (based on destination of our shipment) for the three months ended March 31, 2022 and 2021: Ammonia Granular Urea UAN AN Other Total (in millions) Three months ended March 31, 2022 North America $ 583 $ 736 $ 1,013 $ 83 $ 153 $ 2,568 Europe and other 57 29 2 140 72 300 Total revenue $ 640 $ 765 $ 1,015 $ 223 $ 225 $ 2,868 Three months ended March 31, 2021 North America $ 168 $ 399 $ 222 $ 41 $ 77 $ 907 Europe and other 38 — 10 64 29 141 Total revenue $ 206 $ 399 $ 232 $ 105 $ 106 $ 1,048 As of March 31, 2022 and December 31, 2021, we had $598 million and $700 million, respectively, in customer advances on our consolidated balance sheets. The revenue recognized during the three months ended March 31, 2022 and 2021 that was included in our customer advances at the beginning of each respective period amounted to approximately $560 million and $85 million, respectively. We offer cash incentives to certain customers generally based on the volume of their purchases over the fertilizer year ending June 30. Our cash incentives do not provide an option to the customer for additional product. The balances of customer incentives accrued as of March 31, 2022 and December 31, 2021 were not material. We have certain customer contracts with performance obligations under which, if the customer does not take the required amount of product specified in the contract, then the customer is required to make a payment to us, the amount of which payment may vary based upon the terms and conditions of the applicable contract. As of March 31, 2022, excluding contracts with original durations of less than one year, and based on the minimum product tonnage to be sold and current market price estimates, our remaining performance obligations under these contracts are approximately $750 million. We expect to recognize approximately 36% of these performance obligations as revenue in the remainder of 2022, approximately 57% as revenue during 2023-2024, approximately 5% as revenue during 2025-2026, and the remainder thereafter. Subject to the terms and conditions of the applicable contracts, if the customers do not satisfy their purchase obligations under such contracts, the minimum amount that they would be required to pay to us under such contracts, in the aggregate, is approximately $140 million as of March 31, 2022. Other than the performance obligations described above, any performance obligations with our customers that were unfulfilled or partially fulfilled at December 31, 2021 will be satisfied in 2022.

Net Earnings Per Share

Net Earnings Per Share	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Net Earnings Per Share	Net Earnings Per Share Net earnings per share were computed as follows: Three months ended 2022 2021 (in millions, except per share amounts) Net earnings attributable to common stockholders $ 883 $ 151 Basic earnings per common share: Weighted-average common shares outstanding 208.6 214.9 Net earnings attributable to common stockholders $ 4.23 $ 0.70 Diluted earnings per common share: Weighted-average common shares outstanding 208.6 214.9 Dilutive common shares—stock-based awards 1.3 1.1 Diluted weighted-average common shares outstanding 209.9 216.0 Net earnings attributable to common stockholders $ 4.21 $ 0.70 Diluted earnings per common share is calculated using weighted-average common shares outstanding, including the dilutive effect of stock-based awards as determined under the treasury stock method. In the computation of diluted earnings per common share, potentially dilutive stock-based awards are excluded if the effect of their inclusion is anti-dilutive. Shares for anti-dilutive stock-based awards not included in the computation of diluted earnings per common share were 1.2 million in the three months ended March 31, 2021.

Inventories

Inventories	3 Months Ended
	Mar. 31, 2022
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories consist of the following: March 31, December 31, (in millions) Finished goods $ 436 $ 358 Raw materials, spare parts and supplies 52 50 Total inventories $ 488 $ 408

United Kingdom Energy Crisis an

United Kingdom Energy Crisis and Impairment Charges	3 Months Ended
	Mar. 31, 2022
Property, Plant and Equipment [Abstract]
United Kingdom Energy Crisis and Impairment Charges	United Kingdom Energy Crisis and Impairment Charges During the third quarter of 2021, the United Kingdom began experiencing an energy crisis that included a substantial increase in the price of natural gas, which impacted our U.K. operations. In the first half of 2021, natural gas prices had increased to levels that were considered high compared to historical prices, and prices then more than doubled within the third quarter of 2021. On September 15, 2021, we announced the halt of operations at both our Ince and Billingham manufacturing facilities in the United Kingdom due to negative profitability driven by the high cost of natural gas. After certain agreements were finalized, our Billingham facility resumed operations. As of the filing of this report, production continues at our Billingham facility and continues to be idled at our Ince facility. In the second half of 2021, the U.K. energy crisis necessitated evaluations of the goodwill and long-lived assets, including definite-lived intangible assets, of our U.K. operations to determine if their fair value had declined to below their carrying value. Based on these analyses, we concluded that declines in fair value had occurred, and we recognized impairment charges of $521 million in 2021, consisting of long-lived and intangible asset impairment charges of $236 million and goodwill impairment charges of $285 million. As a result, we had no remaining goodwill related to our U.K. operations on our consolidated balance sheet as of December 31, 2021.

Property, Plant and Equipment-N

Property, Plant and Equipment-Net	3 Months Ended
	Mar. 31, 2022
Property, Plant and Equipment, Net [Abstract]
Property, Plant and Equipment-Net	Property, Plant and Equipment—Net Property, plant and equipment—net consists of the following: March 31, December 31, (in millions) Land $ 67 $ 68 Machinery and equipment (1) 12,763 12,757 Buildings and improvements (1) 916 915 Construction in progress (1) 179 148 Property, plant and equipment (2) 13,925 13,888 Less: Accumulated depreciation and amortization 7,019 6,807 Property, plant and equipment—net $ 6,906 $ 7,081 _______________________________________________________________________________ (1) At both March 31, 2022 and December 31, 2021, machinery and equipment, buildings and improvements, and construction in progress include cumulative impairment charges of $169 million, $5 million and $8 million, respectively, which were recorded in 2021. (2) As of March 31, 2022 and December 31, 2021, we had property, plant and equipment that was accrued but unpaid of approximately $22 million and $35 million, respectively. As of March 31, 2021 and December 31, 2020, we had property, plant and equipment that was accrued but unpaid of approximately $33 million and $43 million, respectively. Depreciation and amortization related to property, plant and equipment was $205 million and $200 million for the three months ended March 31, 2022 and 2021, respectively. In the first quarter of 2022, we concluded that the continued impacts of the U.K. energy crisis, including higher natural gas prices due in part to recent geopolitical events, triggered an impairment test of the long-lived assets in our U.K. asset groups. This test indicated that no long-lived asset impairment existed as the undiscounted estimated future cash flows were in excess of the carrying values for each of the U.K. asset groups. Long-lived assets on our consolidated balance sheet as of March 31, 2022 include approximately $400 million, approximately $360 million of which consists of property, plant and equipment, related to the U.K. asset groups. See Note 5—United Kingdom Energy Crisis and Impairment Charges for additional information. Plant turnarounds —Scheduled inspections, replacements and overhauls of plant machinery and equipment at our continuous process manufacturing facilities during a full plant shutdown are referred to as plant turnarounds. The expenditures related to turnarounds are capitalized in property, plant and equipment when incurred. The following is a summary of capitalized plant turnaround costs: Three months ended 2022 2021 (in millions) Net capitalized turnaround costs: Beginning balance $ 355 $ 226 Additions 5 10 Depreciation (36) (25) Effect of exchange rate changes (1) — Ending balance $ 323 $ 211

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	3 Months Ended
	Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets The following table shows the carrying amount of goodwill by reportable segment as of March 31, 2022 and December 31, 2021: Ammonia (1) Granular Urea UAN AN (1) Other (1) Total (in millions) Balance as of December 31, 2021 $ 579 $ 828 $ 576 $ 69 $ 39 $ 2,091 Effect of exchange rate changes — — — — — — Balance as of March 31, 2022 $ 579 $ 828 $ 576 $ 69 $ 39 $ 2,091 _______________________________________________________________________________ (1) At both March 31, 2022 and December 31, 2021, the carrying amount of goodwill includes accumulated impairment losses in our Ammonia, AN and Other segments of $9 million, $241 million and $35 million, respectively. All of our identifiable intangible assets have definite lives and are presented in other assets on our consolidated balance sheets at gross carrying amount, net of accumulated amortization, as follows: March 31, 2022 December 31, 2021 Gross Accumulated Net Gross Accumulated Net (in millions) Customer relationships (1) $ 83 $ (59) $ 24 $ 84 $ (60) $ 24 Trade names (1) 30 (10) 20 31 (10) 21 Total intangible assets $ 113 $ (69) $ 44 $ 115 $ (70) $ 45 _______________________________________________________________________________ (1) At both March 31, 2022 and December 31, 2021, the gross carrying amount for customer relationships and trade names includes cumulative impairment charges of $49 million and $1 million, respectively, which were recorded in 2021. Our customer relationships and trade names are being amortized over a weighted-average life of approximately 20 years. Amortization expense of our identifiable intangible assets was $1 million and $2 million for the three months ended March 31, 2022 and 2021, respectively. The gross carrying amount and accumulated amortization of our intangible assets are also impacted by the effect of exchange rate changes. Total estimated amortization expense for the remainder of 2022 is $3 million and for each of the fiscal years 2023-2027 is $4 million. In the first quarter of 2022, we concluded that the continued impacts of the U.K. energy crisis, including higher natural gas prices due in part to recent geopolitical events, triggered an impairment test of the long-lived assets in our U.K. asset groups. This test indicated that no long-lived asset impairment existed as the undiscounted estimated future cash flows were in excess of the carrying values for each of the U.K. asset groups. See Note 5—United Kingdom Energy Crisis and Impairment Charges for additional information. Long-lived assets on our consolidated balance sheet as of March 31, 2022 include approximately $400 million, $25 million of which consists of customer relationships and trade names, related to the U.K. asset groups.

Equity Method Investment

Equity Method Investment	3 Months Ended
	Mar. 31, 2022
Equity Method Investments and Joint Ventures [Abstract]
Equity Method Investment	Equity Method Investment We have a 50% ownership interest in Point Lisas Nitrogen Limited (PLNL), which operates an ammonia production facility in the Republic of Trinidad and Tobago. We include our share of the net earnings from this equity method investment as an element of earnings from operations because PLNL provides additional production to our operations and is integrated with our other supply chain and sales activities in the Ammonia segment. As of March 31, 2022, the total carrying value of our equity method investment in PLNL was $84 million, $38 million more than our share of PLNL’s book value. The excess is attributable to the purchase accounting impact of our acquisition of the investment in PLNL and reflects the revaluation of property, plant and equipment. The increased basis for property, plant and equipment is being amortized over a remaining period of approximately 11 years. Our equity in earnings of PLNL is different from our ownership interest in income reported by PLNL due to amortization of this basis difference. We have transactions in the normal course of business with PLNL reflecting our obligation to purchase 50% of the ammonia produced by PLNL at current market prices. Our ammonia purchases from PLNL totaled $74 million and $26 million for the three months ended March 31, 2022 and 2021, respectively.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Our cash and cash equivalents and other investments consist of the following: March 31, 2022 Cost Basis Unrealized Unrealized Fair Value (in millions) Cash $ 207 $ — $ — $ 207 Cash equivalents: U.S. and Canadian government obligations 2,324 — — 2,324 Other debt securities 86 — — 86 Total cash and cash equivalents $ 2,617 $ — $ — $ 2,617 Nonqualified employee benefit trusts 17 2 — 19 December 31, 2021 Cost Basis Unrealized Unrealized Fair Value (in millions) Cash $ 121 $ — $ — $ 121 Cash equivalents: U.S. and Canadian government obligations 1,452 — — 1,452 Other debt securities 55 — — 55 Total cash and cash equivalents $ 1,628 $ — $ — $ 1,628 Nonqualified employee benefit trusts 17 3 — 20 Under our short-term investment policy, we may invest our cash balances, either directly or through mutual funds, in several types of investment-grade securities, including notes and bonds issued by governmental entities or corporations. Securities issued by governmental entities include those issued directly by the U.S. and Canadian federal governments; those issued by state, local or other governmental entities; and those guaranteed by entities affiliated with governmental entities. Assets and Liabilities Measured at Fair Value on a Recurring Basis The following tables present assets and liabilities included in our consolidated balance sheets as of March 31, 2022 and December 31, 2021 that are recognized at fair value on a recurring basis, and indicate the fair value hierarchy utilized to determine such fair value: March 31, 2022 Total Fair Quoted Prices Significant Significant (in millions) Cash equivalents $ 2,410 $ 2,410 $ — $ — Nonqualified employee benefit trusts 19 19 — — Derivative assets 3 — 3 — Embedded derivative liability (15) — (15) — December 31, 2021 Total Fair Quoted Prices Significant Significant (in millions) Cash equivalents $ 1,507 $ 1,507 $ — $ — Nonqualified employee benefit trusts 20 20 — — Derivative assets 16 — 16 — Derivative liabilities (47) — (47) — Embedded derivative liability (15) — (15) — Cash Equivalents As of March 31, 2022 and December 31, 2021, our cash equivalents consisted primarily of U.S. and Canadian government obligations and money market mutual funds that invest in U.S. government obligations and other investment-grade securities. Nonqualified Employee Benefit Trusts We maintain trusts associated with certain nonqualified supplemental pension plans. The fair values of the trust assets are based on daily quoted prices in an active market, which represents the net asset values of the shares held in the trusts, and are included on our consolidated balance sheets in other assets. Debt securities are accounted for as available-for-sale securities, and changes in fair value are reported in other comprehensive income. Changes in the fair value of available-for-sale equity securities in the trust assets are recognized through earnings. Derivative Instruments The derivative instruments that we use are primarily natural gas fixed price swaps, basis swaps and options traded in the over-the-counter markets with multi-national commercial banks, other major financial institutions or large energy companies. The natural gas derivative contracts represent anticipated natural gas needs for future periods and settlements are scheduled to coincide with anticipated natural gas purchases during those future periods. The natural gas derivative contracts settle using primarily a NYMEX futures price index. To determine the fair value of these instruments, we use quoted market prices from NYMEX and standard pricing models with inputs derived from or corroborated by observable market data such as forward curves supplied by an industry-recognized independent third party. See Note 13—Derivative Financial Instruments for additional information. Embedded Derivative Liability Under the terms of our strategic venture with CHS Inc. (CHS), if our credit rating as determined by two of three specified credit rating agencies is below certain levels, we are required to make a non-refundable yearly payment of $5 million to CHS. Since 2016, our credit ratings have been below certain levels and, as a result, we made an annual payment of $5 million to CHS in the fourth quarter of each year. These payments will continue on a yearly basis until the earlier of the date that our credit rating is upgraded to or above certain levels by two of the three specified credit rating agencies or February 1, 2026. This obligation is recognized on our consolidated balance sheets as an embedded derivative and is included within other current liabilities and other liabilities. As of both March 31, 2022 and December 31, 2021, the embedded derivative liability was $15 million. The inputs into the fair value measurement include the probability of future upgrades and downgrades of our credit rating based on historical credit rating movements of other public companies and the discount rates to be applied to potential annual payments based on applicable credit spreads of other public companies at different credit rating levels. Based on these inputs, our fair value measurement is classified as Level 2. See Note 14—Noncontrolling Interest for additional information regarding our strategic venture with CHS. Financial Instruments The carrying amount and estimated fair value of our financial instruments are as follows: March 31, 2022 December 31, 2021 Carrying Fair Value Carrying Fair Value (in millions) Long-term debt, including current maturities $ 3,462 $ 3,781 $ 3,465 $ 4,113 The fair value of our long-term debt was based on quoted prices for identical or similar liabilities in markets that are not active or valuation models in which all significant inputs and value drivers are observable and, as a result, they are classified as Level 2 inputs. The carrying amounts of cash and cash equivalents, as well as instruments included in other current assets and other current liabilities that meet the definition of financial instruments, approximate fair values because of their short-term maturities. Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes For the three months ended March 31, 2022, we recorded an income tax provision of $401 million on pre-tax income of $1.45 billion, or an effective tax rate of 27.6%, compared to an income tax provision of $18 million on pre-tax income of $193 million, or an effective tax rate of 9.3%, for the three months ended March 31, 2021. For the three months ended March 31, 2022, our income tax provision includes $20 million of income tax benefit due to share-based compensation activity and $78 million of income tax provision related to the Canada Revenue Agency Competent Authority Matter and certain transfer pricing reserves recorded in the period, as discussed below. For the three months ended March 31, 2021, our income tax provision includes a $22 million benefit reflecting the impact of agreement on certain issues related to U.S. federal income tax audits. Our effective tax rate is also impacted by earnings attributable to the noncontrolling interest in CF Industries Nitrogen, LLC (CFN), as our consolidated income tax provision does not include a tax provision on the earnings attributable to the noncontrolling interest. Our effective tax rate for the three months ended March 31, 2022 of 27.6%, which is based on pre-tax income of $1.45 billion, including $168 million of earnings attributable to the noncontrolling interest, would be 3.7 percentage points higher if based on pre-tax income exclusive of the $168 million of earnings attributable to the noncontrolling interest. Our effective tax rate for the three months ended March 31, 2021 of 9.3%, which is based on pre-tax income of $193 million, including $24 million of earnings attributable to the noncontrolling interest, would be 1.3 percentage points higher if based on pre-tax income exclusive of the $24 million of earnings attributable to the noncontrolling interest. Canada Revenue Agency Competent Authority Matter In 2016, the Canada Revenue Agency (CRA) and Alberta Tax and Revenue Administration (Alberta TRA) issued Notices of Reassessment for tax years 2006 through 2009 to one of our Canadian affiliates asserting a disallowance of certain patronage deductions. We filed Notices of Objection with respect to the Notices of Reassessment with the CRA and Alberta TRA and posted letters of credit in lieu of paying the additional tax liability assessed. The letters of credit serve as security until the matter is resolved. In 2018, the matter, including the related transfer pricing topic regarding the allocation of profits between Canada and the United States, was accepted for consideration under the bilateral settlement provisions of the U.S.-Canada tax treaty (the Treaty) by the United States and Canadian competent authorities, and included tax years 2006 through 2011. In the second quarter of 2021, the Company submitted the transfer pricing aspect of the matter into the arbitration process under the terms of the Treaty. In February 2022, we were informed that a decision was reached by the arbitration panel for tax years 2006 through 2011. In March 2022, we received further details of the results of the arbitration proceedings and the settlement provisions between the United States and Canadian competent authorities, and we accepted the decision of the arbitration panel. Under the terms of the arbitration decision, additional income for tax years 2006 through 2011 will be subject to tax in Canada, resulting in our having additional Canadian tax liability for those tax years of approximately $127 million, based on current estimates. We expect this resulting Canadian tax liability, plus interest of approximately $98 million, will be assessed in the second quarter of 2022 and that payment of those amounts, aggregating to approximately $225 million, based on current estimates, will be due in the third quarter of 2022. The letters of credit we had posted in lieu of paying the additional tax liability assessed by the Notices of Reassessment will be cancelled upon payment of the additional tax and interest to Canada. Due primarily to the availability of additional foreign tax credits to offset in part the increased Canadian tax referenced above, the Company will file amended tax returns in the United States to request a refund of tax overpaid. In the three months ended March 31, 2022, as a result of the impact of these events on our Canadian and U.S. federal and state income taxes, we recognized an income tax provision of $76 million, reflecting the net impact of $127 million of accrued income taxes payable to Canada for tax years 2006 to 2011, partially offset by net income tax receivables of approximately $51 million in the United States, and we accrued net interest of $99 million, primarily reflecting the impact of estimated interest payable to Canada. Transfer pricing reserves As a result of the outcome of the arbitration decision discussed above, we have also evaluated our transfer pricing positions between Canada and the United States for open years 2012 and after. Based on this evaluation, for the three months ended March 31, 2022, we recorded the following: • liabilities for unrecognized tax benefits of $319 million with a corresponding income tax provision, and accrued interest of $91 million related to the liabilities for unrecognized tax benefits, and • noncurrent income tax receivables of $329 million with a corresponding income tax benefit, and accrued interest income of $28 million related to the noncurrent income tax receivables. In the three months ended March 31, 2022, the impact of this evaluation of transfer pricing positions on our consolidated statement of operations, including a $12 million deferred income tax provision for other transfer pricing tax effects, was a $2 million income tax provision and $63 million of net interest expense before tax ($69 million after tax). As of March 31, 2022, as a result of recording these transfer pricing reserves, the total amount of our unrecognized tax benefits was $349 million, and the total amounts accrued for interest and penalties related to income taxes included in other liabilities was $96 million. As of December 31, 2021, the total amount of our unrecognized tax benefits was $27 million and the total amounts accrued for interest and penalties related to income taxes was $4 million. We expect that the ultimate outcome of the transfer pricing reserves will not have a material net impact on our results of operations, financial condition or cash flows. However, we can provide no assurance as to the ultimate outcome. Based on the information currently available, we believe we have adequately reserved for the open tax years.

Financing Agreements

Financing Agreements	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Financing Agreements	Financing Agreements Revolving Credit Agreement We have a senior unsecured revolving credit agreement (the Revolving Credit Agreement), which provides for a revolving credit facility of up to $750 million with a maturity of December 5, 2024. The Revolving Credit Agreement includes a letter of credit sub-limit of $125 million. Borrowings under the Revolving Credit Agreement may be used for working capital, capital expenditures, acquisitions, share repurchases and other general corporate purposes. Borrowings under the Revolving Credit Agreement may be denominated in U.S. dollars, Canadian dollars, euros and British pounds, and bear interest at a per annum rate equal to, at our option, an applicable eurocurrency rate or base rate plus, in either case, a specified margin. We are required to pay an undrawn commitment fee on the undrawn portion of the commitments under the Revolving Credit Agreement and customary letter of credit fees. The specified margin and the amount of the commitment fee depend on CF Holdings’ credit rating at the time. As of March 31, 2022, we had unused borrowing capacity under the Revolving Credit Agreement of $750 million and no outstanding letters of credit. There were no borrowings outstanding under the Revolving Credit Agreement as of March 31, 2022 or December 31, 2021, or during the three months ended March 31, 2022. The Revolving Credit Agreement contains representations and warranties and affirmative and negative covenants, including financial covenants. As of March 31, 2022, we were in compliance with all covenants under the Revolving Credit Agreement. Letters of Credit In addition to the letters of credit that may be issued under the Revolving Credit Agreement, as described above, we have also entered into a bilateral agreement with capacity to issue up to $250 million of letters of credit. As of March 31, 2022, approximately $197 million of letters of credit were outstanding under this agreement. Senior Notes Long-term debt presented on our consolidated balance sheets as of March 31, 2022 and December 31, 2021 consisted of the following debt securities issued by CF Industries: Effective Interest Rate March 31, 2022 December 31, 2021 Principal Carrying Amount (1) Principal Carrying Amount (1) (in millions) Public Senior Notes: 3.450% due June 2023 (2) 3.665% $ 500 $ 499 $ 500 $ 499 5.150% due March 2034 5.293% 750 741 750 741 4.950% due June 2043 5.040% 750 741 750 742 5.375% due March 2044 5.478% 750 740 750 741 Senior Secured Notes: 4.500% due December 2026 (3) 4.783% 750 741 750 742 Total long-term debt $ 3,500 $ 3,462 $ 3,500 $ 3,465 Less: Current maturities of long-term debt 500 499 — — Long-term debt, net of current maturities $ 3,000 $ 2,963 $ 3,500 $ 3,465 _______________________________________________________________________________ (1) Carrying amount is net of unamortized debt discount and deferred debt issuance costs. Total unamortized debt discount was $8 million as of both March 31, 2022 and December 31, 2021, and total deferred debt issuance costs were $30 million and $27 million as of March 31, 2022 and December 31, 2021, respectively. (2) These notes were redeemed in full on April 21, 2022. (3) Effective August 23, 2021, these notes are no longer secured, in accordance with the terms of the applicable indenture. As of March 31, 2022 , u nder the indentures (including the applicable supplemental indentures) governing the senior notes due 2023, 2034, 2043 and 2044 identified in the table above (the Public Senior Notes), each series of Public Senior Notes was guaranteed by CF Holdings. As of March 31, 2022 , u nder the terms of the indenture governing the 4.500% senior secured notes due December 2026 (the 2026 Notes) identified in the table above, the 2026 Notes were guaranteed by CF Holdings. Until August 23, 2021, the 2026 Notes were guaranteed by certain subsidiaries of CF Industries. The requirement for subsidiary guarantees of the 2026 Notes was eliminated, and all subsidiary guarantees were automatically released, as a result of an investment grade rating event under the terms of the indenture governing the 2026 Notes on August 23, 2021. On March 20, 2021, we redeemed in full all of the $250 million outstanding principal amount of the 3.400% senior secured notes due December 2021 (the 2021 Notes) in accordance with the optional redemption provisions in the indenture governing the 2021 Notes. The total aggregate redemption price paid in connection with the redemption of the 2021 Notes was $258 million, including accrued interest. As a result, we recognized a loss on debt extinguishment of $6 million, consisting primarily of the premium paid on the redemption of the 2021 Notes prior to their scheduled maturity. On March 21, 2022, we announced that CF Industries elected to redeem in full all of the $500 million outstanding principal amount of the 3.450% senior notes due June 2023 (the 2023 Notes) on April 21, 2022, in accordance with the optional redemption provisions in the indenture governing the 2023 Notes. See Note 18—Subsequent Events for additional information.

Interest Expense

Interest Expense	3 Months Ended
	Mar. 31, 2022
Interest Expense [Abstract]
Interest Expense	Interest Expense Details of interest expense are as follows: Three months ended 2022 2021 (in millions) Interest on borrowings (1) $ 42 $ 46 Fees on financing agreements (1) 2 2 Interest on tax liabilities (2) 198 — Interest capitalized (1) — Total interest expense $ 241 $ 48 _______________________________________________________________________________ (1) See Note 11—Financing Agreements for additional information. (2) See Note 10—Income Taxes for additional information.

Derivative Financial Instrument

Derivative Financial Instruments	3 Months Ended
	Mar. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activities Disclosure	13. Derivative Financial Instruments We use derivative financial instruments to reduce our exposure to changes in prices for natural gas that will be purchased in the future. Natural gas is the largest and most volatile component of our manufacturing cost for nitrogen-based products. From time to time, we may also use derivative financial instruments to reduce our exposure to changes in foreign currency exchange rates. The derivatives that we use to reduce our exposure to changes in prices for natural gas are primarily natural gas fixed price swaps, basis swaps and options traded in the over-the-counter markets. These natural gas derivatives settle using primarily a NYMEX futures price index, which represents the basis for fair value at any given time. We enter into natural gas derivative contracts with respect to natural gas to be consumed by us in the future, and settlements of those derivative contracts are scheduled to coincide with our anticipated purchases of natural gas used to manufacture nitrogen products during those future periods. We use natural gas derivatives as an economic hedge of natural gas price risk, but without the application of hedge accounting. As a result, changes in fair value of these contracts are recognized in earnings. As of March 31, 2022, we had natural gas derivative contracts covering certain periods through March 2023. As of March 31, 2022, our open natural gas derivative contracts consisted of natural gas fixed price swaps and basis swaps for 2.9 million MMBtus. As of December 31, 2021, we had open natural gas derivative contracts consisting of natural gas fixed price swaps, basis swaps and options for 60.0 million MMBtus of natural gas. For the three months ended March 31, 2022, we used derivatives to cover approximately 45% of our natural gas consumption. The effect of derivatives in our consolidated statements of operations is shown in the table below. Gain (loss) recognized in income Three months ended Location 2022 2021 (in millions) Unrealized net gains on natural gas derivatives Cost of sales $ 33 $ 6 Realized net gains (losses) on natural gas derivatives Cost of sales 17 (3) Gain on net settlement of natural gas derivatives due to Winter Storm Uri Cost of sales — 112 Net derivative gains $ 50 $ 115 Gain on net settlement of natural gas derivatives due to Winter Storm Uri We also enter into supply agreements to facilitate the availability of natural gas to operate our plants. When we purchase natural gas under these agreements, we intend to take physical delivery for use in our plants. Certain of these supply agreements allow us to fix the price of the deliveries for the following month using an agreed upon first of month price. We utilize the Normal Purchase Normal Sales (NPNS) derivative scope exception for these fixed price contracts and therefore, we do not account for them as derivatives. In the first quarter of 2021, the central portion of the United States experienced extreme and unprecedented cold weather due to the impact of Winter Storm Uri. Certain natural gas suppliers and natural gas pipelines declared force majeure events due to frozen equipment. This occurred at the same time as large increases in natural gas demand were occurring due to the extreme cold temperatures. Due to these unprecedented factors, several states declared a state of emergency and natural gas was redirected for residential usage. We net settled certain natural gas contracts with our suppliers and received prevailing market prices, which were in excess of our cost. We no longer qualified for the NPNS derivative scope exception for the natural gas that was net settled with our suppliers due to the impact of Winter Storm Uri. As a result, we recognized a gain of $112 million from the net settlement of these natural gas contracts, which is reflected in cost of sales in our consolidated statement of operations for the three months ended March 31, 2021. The fair values of derivatives on our consolidated balance sheets are shown below. As of March 31, 2022 and December 31, 2021, none of our derivative instruments were designated as hedging instruments. See Note 9—Fair Value Measurements for additional information on derivative fair values. Asset Derivatives Liability Derivatives Balance Sheet Location March 31, December 31, 2021 Balance Sheet March 31, December 31, 2021 (in millions) (in millions) Natural gas derivatives Other current assets $ 3 $ 16 Other current liabilities $ — $ (47) Most of our International Swaps and Derivatives Association (ISDA) agreements contain credit-risk-related contingent features such as cross default provisions. In the event of certain defaults or termination events, our counterparties may request early termination and net settlement of certain derivative trades, or under certain ISDA agreements, may require us to collateralize derivatives in a net liability position. As of March 31, 2022 and December 31, 2021, the aggregate fair value of the derivative instruments with credit-risk-related contingent features in net liability positions was zero and $31 million, respectively, which also approximates the fair value of the assets that may be needed to settle the obligations if the credit-risk-related contingent features were triggered at the reporting dates. The credit support documents executed in connection with certain of our ISDA agreements generally provide us and our counterparties the right to set off collateral against amounts owing under the ISDA agreements upon the occurrence of a default or a specified termination event. As of March 31, 2022 and December 31, 2021, we had no cash collateral on deposit with counterparties for derivative contracts. The following table presents amounts relevant to offsetting of our derivative assets and liabilities as of March 31, 2022 and December 31, 2021: Amounts presented in consolidated balance sheets (1) Gross amounts not offset in consolidated balance sheets Financial Cash collateral received (pledged) Net (in millions) March 31, 2022 Total derivative assets $ 3 $ — $ — $ 3 Total derivative liabilities — — — — Net derivative assets $ 3 $ — $ — $ 3 December 31, 2021 Total derivative assets $ 16 $ — $ — $ 16 Total derivative liabilities (47) — — (47) Net derivative liabilities $ (31) $ — $ — $ (31) _______________________________________________________________________________ (1) We report the fair values of our derivative assets and liabilities on a gross basis on our consolidated balance sheets. As a result, the gross amounts recognized and net amounts presented are the same. We do not believe the contractually allowed netting, close-out netting or setoff of amounts owed to, or due from, the counterparties to our ISDA agreements would have a material effect on our financial position.

Noncontrolling Interest

Noncontrolling Interest	3 Months Ended
	Mar. 31, 2022
Noncontrolling Interest [Abstract]
Noncontrolling Interest	Noncontrolling Interest We have a strategic venture with CHS under which CHS owns an equity interest in CFN, a subsidiary of CF Holdings, which represents approximately 11% of the membership interests of CFN. We own the remaining membership interests. Under the terms of CFN’s limited liability company agreement, each member’s interest will reflect, over time, the impact of the profitability of CFN, any member contributions made to CFN and withdrawals and distributions received from CFN. For financial reporting purposes, the assets, liabilities and earnings of the strategic venture are consolidated into our financial statements. CHS’ interest in the strategic venture is recorded in noncontrolling interest in our consolidated financial statements. A reconciliation of the beginning and ending balances of noncontrolling interest and distributions payable to noncontrolling interest in our consolidated balance sheets is provided below. 2022 2021 (in millions) Noncontrolling interest: Balance as of January 1 $ 2,830 $ 2,681 Earnings attributable to noncontrolling interest 168 24 Declaration of distributions payable (247) (64) Balance as of March 31 $ 2,751 $ 2,641 Distributions payable to noncontrolling interest: Balance as of January 1 $ — $ — Declaration of distributions payable 247 64 Distributions to noncontrolling interest (247) (64) Balance as of March 31 $ — $ —

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Mar. 31, 2022
Equity [Abstract]
Stockholders' Equity	Stockholders’ Equity Treasury Stock On November 3, 2021, our Board of Directors (the Board) authorized the repurchase of up to $1.5 billion of CF Holdings common stock through December 31, 2024 (the 2021 Share Repurchase Program). Repurchases under the 2021 Share Repurchase Program may be made from time to time in the open market, through privately negotiated transactions, through block transactions or otherwise. The manner, timing and amount of repurchases will be determined by our management based on the evaluation of market conditions, stock price, and other factors. In the three months ended March 31, 2022, we repurchased approximately 1.3 million shares under the 2021 Share Repurchase Program for $100 million. In the three months ended March 31, 2022, we retired 27,962 shares of repurchased stock, including shares repurchased under the share repurchase program that expired on December 31, 2021. At March 31, 2022, we held 1,563,679 shares of treasury stock. Accumulated Other Comprehensive Loss Changes to accumulated other comprehensive loss and the impact on other comprehensive income (loss) are as follows: Foreign Unrealized Defined Accumulated (in millions) Balance as of December 31, 2020 $ (144) $ 4 $ (180) $ (320) Reclassification to earnings (1) — — 2 2 Effect of exchange rate changes and deferred taxes 14 — (1) 13 Balance as of March 31, 2021 $ (130) $ 4 $ (179) $ (305) Balance as of December 31, 2021 $ (141) $ 4 $ (120) $ (257) Reclassification to earnings (1) — — 1 1 Effect of exchange rate changes and deferred taxes (13) — 3 (10) Balance as of March 31, 2022 $ (154) $ 4 $ (116) $ (266) ____________________________________________________________________________ (1) Reclassifications out of accumulated other comprehensive loss to the consolidated statements of operations during the three months ended March 31, 2022 and 2021 were not material.

Contingencies

Contingencies	3 Months Ended
	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Contingencies	Contingencies Litigation West Fertilizer Co. On April 17, 2013, there was a fire and explosion at the West Fertilizer Co. fertilizer storage and distribution facility in West, Texas. According to published reports, 15 people were killed and approximately 200 people were injured in the incident, and the fire and explosion damaged or destroyed a number of homes and buildings around the facility. Various subsidiaries of CF Industries Holdings, Inc. (the CF Entities) were named as defendants along with other companies in lawsuits filed in 2013, 2014 and 2015 in the District Court of McLennan County, Texas by the City of West, individual residents of the County and other parties seeking recovery for damages allegedly sustained as a result of the explosion. The cases were consolidated for discovery and pretrial proceedings in the District Court of McLennan County under the caption “In re: West Explosion Cases.” The two-year statute of limitations expired on April 17, 2015. As of that date, over 400 plaintiffs had filed claims, including at least 9 entities, 325 individuals, and 80 insurance companies. Plaintiffs allege various theories of negligence, strict liability, and breach of warranty under Texas law. Although we did not own or operate the facility or directly sell our products to West Fertilizer Co., products that the CF Entities manufactured and sold to others were delivered to the facility and may have been stored at the West facility at the time of the incident. All but two of the claims, including all wrongful death and personal injury claims, have been resolved pursuant to confidential settlements that have been or we expect will be fully funded by insurance. The two remaining subrogation and statutory indemnification claims have not yet been set for trial. We believe we have strong legal and factual defenses and intend to continue defending the CF Entities vigorously in the remaining lawsuits. Based upon currently available information, we expect any potential loss to be immaterial and fully indemnified by insurance. Other Litigation From time to time, we are subject to ordinary, routine legal proceedings related to the usual conduct of our business, including proceedings regarding public utility and transportation rates, environmental matters, taxes and permits relating to the operations of our various plants and facilities. Based on the information available as of the date of this filing, we believe that the ultimate outcome of these routine matters will not have a material adverse effect on our consolidated financial position, results of operations or cash flows. Environmental From time to time, we receive notices from governmental agencies or third parties alleging that we are a potentially responsible party at certain cleanup sites under the Comprehensive Environmental Response, Compensation, and Liability Act or other environmental cleanup laws. In 2011, we received a notice from the Idaho Department of Environmental Quality (IDEQ) that alleged that we were a potentially responsible party for the cleanup of a former phosphate mine site we owned in the late 1950s and early 1960s located in Georgetown Canyon, Idaho. The current owner of the property and a former mining contractor received similar notices for the site. In 2014, we and the current property owner entered into a Consent Order with IDEQ and the U.S. Forest Service to conduct a remedial investigation and feasibility study of the site. A remedial investigation was submitted to the agencies in 2021. The next step will be a risk assessment, followed by a feasibility study. In 2015, we and several other parties received a notice that the U.S. Department of the Interior and other trustees intended to undertake a natural resource damage assessment for 18 former phosphate mines and three former processing facilities in southeast Idaho. The Georgetown Canyon former mine and processing facility was included in the group of former mines and processing facilities identified by the trustees. In June 2021, we received another notice from the U.S. Department of the Interior that the natural resource damage trustees were commencing a ‘subsequent’ phase of the natural resource damage assessment, but no further details were provided with respect to said assessment. Because the former Georgetown Canyon mine site is still in the risk assessment and feasibility study stage, we are not able to estimate at this time our potential liability, if any, with respect to the cleanup of the site or a possible claim for natural resource damages. However, based on the results of the site investigation conducted to date, we do not expect the remedial or financial obligations to which we may be subject involving this or other cleanup sites will have a material adverse effect on our consolidated financial position, results of operations or cash flows.

Segment Disclosures

Segment Disclosures	3 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
Segment Disclosures	Segment Disclosures Our reportable segments consist of Ammonia, Granular Urea, UAN, AN and Other. These segments are differentiated by products. Our management uses gross margin to evaluate segment performance and allocate resources. Total other operating costs and expenses (consisting primarily of selling, general and administrative expenses and other operating—net) and non-operating expenses (consisting primarily of interest and income taxes) are centrally managed and are not included in the measurement of segment profitability reviewed by management. Our assets, with the exception of goodwill, are not monitored by or reported to our chief operating decision maker by segment; therefore, we do not present total assets by segment. Goodwill by segment is presented in Note 7—Goodwill and Other Intangible Assets. Segment data for sales, cost of sales and gross margin for the three months ended March 31, 2022 and 2021 are presented in the table below. Ammonia (1) Granular Urea (2) UAN (2) AN (2) Other (2) Consolidated (in millions) Three months ended March 31, 2022 Net sales $ 640 $ 765 $ 1,015 $ 223 $ 225 $ 2,868 Cost of sales 280 270 345 171 104 1,170 Gross margin $ 360 $ 495 $ 670 $ 52 $ 121 1,698 Total other operating costs and expenses 66 Equity in earnings of operating affiliate 26 Operating earnings $ 1,658 Three months ended March 31, 2021 Net sales $ 206 $ 399 $ 232 $ 105 $ 106 $ 1,048 Cost of sales 80 264 230 95 90 759 Gross margin $ 126 $ 135 $ 2 $ 10 $ 16 289 Total other operating costs and expenses 53 Equity in earnings of operating affiliate 11 Operating earnings $ 247 _______________________________________________________________________________ (1) Cost of sales and gross margin for the Ammonia segment for the three months ended March 31, 2021 include a $112 million gain on the net settlement of certain natural gas contracts with our suppliers. See Note 13—Derivative Financial Instruments for additional information. (2) The cost of the products that are upgraded into other products is transferred at cost into the upgraded product results.

Subsequent Event

Subsequent Event	3 Months Ended
	Mar. 31, 2022
Subsequent Events [Abstract]
Subsequent Event	18. Subsequent Events On April 21, 2022, we redeemed in full all of the $500 million outstanding principal amount of the 2023 Notes in accordance with the optional redemption provisions in the indenture governing the 2023 Notes. The total aggregate redemption price paid in connection with the redemption of the 2023 Notes was approximately $513 million, including accrued interest. As a result, we will recognize a loss on debt extinguishment of approximately $8 million in the second quarter of 2022. See Note 11—Financing Agreements for additional information. On April 27, 2022, the Board declared a quarterly dividend of $0.40 per common share, representing an increase from the quarterly dividend of $0.30 per common share that was declared and paid in the first quarter of 2022. The dividend will be paid on May 31, 2022 to stockholders of record as of May 16, 2022.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
	Mar. 31, 2022
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following table summarizes our revenue by product and by geography (based on destination of our shipment) for the three months ended March 31, 2022 and 2021: Ammonia Granular Urea UAN AN Other Total (in millions) Three months ended March 31, 2022 North America $ 583 $ 736 $ 1,013 $ 83 $ 153 $ 2,568 Europe and other 57 29 2 140 72 300 Total revenue $ 640 $ 765 $ 1,015 $ 223 $ 225 $ 2,868 Three months ended March 31, 2021 North America $ 168 $ 399 $ 222 $ 41 $ 77 $ 907 Europe and other 38 — 10 64 29 141 Total revenue $ 206 $ 399 $ 232 $ 105 $ 106 $ 1,048

Net Earnings Per Share (Tables)

Net Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Summary of net earnings per share	Net earnings per share were computed as follows: Three months ended 2022 2021 (in millions, except per share amounts) Net earnings attributable to common stockholders $ 883 $ 151 Basic earnings per common share: Weighted-average common shares outstanding 208.6 214.9 Net earnings attributable to common stockholders $ 4.23 $ 0.70 Diluted earnings per common share: Weighted-average common shares outstanding 208.6 214.9 Dilutive common shares—stock-based awards 1.3 1.1 Diluted weighted-average common shares outstanding 209.9 216.0 Net earnings attributable to common stockholders $ 4.21 $ 0.70

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Mar. 31, 2022
Inventory Disclosure [Abstract]
Schedule of inventories	Inventories consist of the following: March 31, December 31, (in millions) Finished goods $ 436 $ 358 Raw materials, spare parts and supplies 52 50 Total inventories $ 488 $ 408

Property, Plant and Equipment_2

Property, Plant and Equipment-Net (Tables)	3 Months Ended
	Mar. 31, 2022
Property, Plant and Equipment, Net [Abstract]
Components of property, plant and equipment-net	Property, plant and equipment—net consists of the following: March 31, December 31, (in millions) Land $ 67 $ 68 Machinery and equipment (1) 12,763 12,757 Buildings and improvements (1) 916 915 Construction in progress (1) 179 148 Property, plant and equipment (2) 13,925 13,888 Less: Accumulated depreciation and amortization 7,019 6,807 Property, plant and equipment—net $ 6,906 $ 7,081 _______________________________________________________________________________ (1) At both March 31, 2022 and December 31, 2021, machinery and equipment, buildings and improvements, and construction in progress include cumulative impairment charges of $169 million, $5 million and $8 million, respectively, which were recorded in 2021.
Summary of plant turnaround activity	The following is a summary of capitalized plant turnaround costs: Three months ended 2022 2021 (in millions) Net capitalized turnaround costs: Beginning balance $ 355 $ 226 Additions 5 10 Depreciation (36) (25) Effect of exchange rate changes (1) — Ending balance $ 323 $ 211

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of carrying amount of goodwill by business segment	The following table shows the carrying amount of goodwill by reportable segment as of March 31, 2022 and December 31, 2021: Ammonia (1) Granular Urea UAN AN (1) Other (1) Total (in millions) Balance as of December 31, 2021 $ 579 $ 828 $ 576 $ 69 $ 39 $ 2,091 Effect of exchange rate changes — — — — — — Balance as of March 31, 2022 $ 579 $ 828 $ 576 $ 69 $ 39 $ 2,091 _______________________________________________________________________________ (1) At both March 31, 2022 and December 31, 2021, the carrying amount of goodwill includes accumulated impairment losses in our Ammonia, AN and Other segments of $9 million, $241 million and $35 million, respectively.
Schedule of the identifiable intangibles and their carrying values presented in other noncurrent assets on consolidated balance sheet	All of our identifiable intangible assets have definite lives and are presented in other assets on our consolidated balance sheets at gross carrying amount, net of accumulated amortization, as follows: March 31, 2022 December 31, 2021 Gross Accumulated Net Gross Accumulated Net (in millions) Customer relationships (1) $ 83 $ (59) $ 24 $ 84 $ (60) $ 24 Trade names (1) 30 (10) 20 31 (10) 21 Total intangible assets $ 113 $ (69) $ 44 $ 115 $ (70) $ 45 _______________________________________________________________________________ (1) At both March 31, 2022 and December 31, 2021, the gross carrying amount for customer relationships and trade names includes cumulative impairment charges of $49 million and $1 million, respectively, which were recorded in 2021.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Schedule of cash and cash equivalents and other investments reconciliation from adjusted cost to fair value	Our cash and cash equivalents and other investments consist of the following: March 31, 2022 Cost Basis Unrealized Unrealized Fair Value (in millions) Cash $ 207 $ — $ — $ 207 Cash equivalents: U.S. and Canadian government obligations 2,324 — — 2,324 Other debt securities 86 — — 86 Total cash and cash equivalents $ 2,617 $ — $ — $ 2,617 Nonqualified employee benefit trusts 17 2 — 19 December 31, 2021 Cost Basis Unrealized Unrealized Fair Value (in millions) Cash $ 121 $ — $ — $ 121 Cash equivalents: U.S. and Canadian government obligations 1,452 — — 1,452 Other debt securities 55 — — 55 Total cash and cash equivalents $ 1,628 $ — $ — $ 1,628 Nonqualified employee benefit trusts 17 3 — 20
Schedule of assets and liabilities measured at fair value on a recurring basis	The following tables present assets and liabilities included in our consolidated balance sheets as of March 31, 2022 and December 31, 2021 that are recognized at fair value on a recurring basis, and indicate the fair value hierarchy utilized to determine such fair value: March 31, 2022 Total Fair Quoted Prices Significant Significant (in millions) Cash equivalents $ 2,410 $ 2,410 $ — $ — Nonqualified employee benefit trusts 19 19 — — Derivative assets 3 — 3 — Embedded derivative liability (15) — (15) — December 31, 2021 Total Fair Quoted Prices Significant Significant (in millions) Cash equivalents $ 1,507 $ 1,507 $ — $ — Nonqualified employee benefit trusts 20 20 — — Derivative assets 16 — 16 — Derivative liabilities (47) — (47) — Embedded derivative liability (15) — (15) —
Schedule of carrying amounts and estimated fair values of financial instruments	The carrying amount and estimated fair value of our financial instruments are as follows: March 31, 2022 December 31, 2021 Carrying Fair Value Carrying Fair Value (in millions) Long-term debt, including current maturities $ 3,462 $ 3,781 $ 3,465 $ 4,113

Financing Agreements (Tables)

Financing Agreements (Tables)	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Components of long-term debt	Long-term debt presented on our consolidated balance sheets as of March 31, 2022 and December 31, 2021 consisted of the following debt securities issued by CF Industries: Effective Interest Rate March 31, 2022 December 31, 2021 Principal Carrying Amount (1) Principal Carrying Amount (1) (in millions) Public Senior Notes: 3.450% due June 2023 (2) 3.665% $ 500 $ 499 $ 500 $ 499 5.150% due March 2034 5.293% 750 741 750 741 4.950% due June 2043 5.040% 750 741 750 742 5.375% due March 2044 5.478% 750 740 750 741 Senior Secured Notes: 4.500% due December 2026 (3) 4.783% 750 741 750 742 Total long-term debt $ 3,500 $ 3,462 $ 3,500 $ 3,465 Less: Current maturities of long-term debt 500 499 — — Long-term debt, net of current maturities $ 3,000 $ 2,963 $ 3,500 $ 3,465 _______________________________________________________________________________ (1) Carrying amount is net of unamortized debt discount and deferred debt issuance costs. Total unamortized debt discount was $8 million as of both March 31, 2022 and December 31, 2021, and total deferred debt issuance costs were $30 million and $27 million as of March 31, 2022 and December 31, 2021, respectively. (2) These notes were redeemed in full on April 21, 2022. (3) Effective August 23, 2021, these notes are no longer secured, in accordance with the terms of the applicable indenture.

Interest Expense (Tables)

Interest Expense (Tables)	3 Months Ended
	Mar. 31, 2022
Interest Expense [Abstract]
Schedule of interest expense	Interest Expense Details of interest expense are as follows: Three months ended 2022 2021 (in millions) Interest on borrowings (1) $ 42 $ 46 Fees on financing agreements (1) 2 2 Interest on tax liabilities (2) 198 — Interest capitalized (1) — Total interest expense $ 241 $ 48 _______________________________________________________________________________ (1) See Note 11—Financing Agreements for additional information. (2) See Note 10—Income Taxes for additional information.

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments, Gain (Loss)	The effect of derivatives in our consolidated statements of operations is shown in the table below. Gain (loss) recognized in income Three months ended Location 2022 2021 (in millions) Unrealized net gains on natural gas derivatives Cost of sales $ 33 $ 6 Realized net gains (losses) on natural gas derivatives Cost of sales 17 (3) Gain on net settlement of natural gas derivatives due to Winter Storm Uri Cost of sales — 112 Net derivative gains $ 50 $ 115
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value	The fair values of derivatives on our consolidated balance sheets are shown below. As of March 31, 2022 and December 31, 2021, none of our derivative instruments were designated as hedging instruments. See Note 9—Fair Value Measurements for additional information on derivative fair values. Asset Derivatives Liability Derivatives Balance Sheet Location March 31, December 31, 2021 Balance Sheet March 31, December 31, 2021 (in millions) (in millions) Natural gas derivatives Other current assets $ 3 $ 16 Other current liabilities $ — $ (47)
Offsetting Liabilities	The following table presents amounts relevant to offsetting of our derivative assets and liabilities as of March 31, 2022 and December 31, 2021: Amounts presented in consolidated balance sheets (1) Gross amounts not offset in consolidated balance sheets Financial Cash collateral received (pledged) Net (in millions) March 31, 2022 Total derivative assets $ 3 $ — $ — $ 3 Total derivative liabilities — — — — Net derivative assets $ 3 $ — $ — $ 3 December 31, 2021 Total derivative assets $ 16 $ — $ — $ 16 Total derivative liabilities (47) — — (47) Net derivative liabilities $ (31) $ — $ — $ (31) _______________________________________________________________________________ (1) We report the fair values of our derivative assets and liabilities on a gross basis on our consolidated balance sheets. As a result, the gross amounts recognized and net amounts presented are the same.
Offsetting Assets	The following table presents amounts relevant to offsetting of our derivative assets and liabilities as of March 31, 2022 and December 31, 2021: Amounts presented in consolidated balance sheets (1) Gross amounts not offset in consolidated balance sheets Financial Cash collateral received (pledged) Net (in millions) March 31, 2022 Total derivative assets $ 3 $ — $ — $ 3 Total derivative liabilities — — — — Net derivative assets $ 3 $ — $ — $ 3 December 31, 2021 Total derivative assets $ 16 $ — $ — $ 16 Total derivative liabilities (47) — — (47) Net derivative liabilities $ (31) $ — $ — $ (31) _______________________________________________________________________________ (1) We report the fair values of our derivative assets and liabilities on a gross basis on our consolidated balance sheets. As a result, the gross amounts recognized and net amounts presented are the same.

Noncontrolling Interest (Tables

Noncontrolling Interest (Tables)	3 Months Ended
	Mar. 31, 2022
Noncontrolling Interest [Abstract]
Noncontrolling Interest	A reconciliation of the beginning and ending balances of noncontrolling interest and distributions payable to noncontrolling interest in our consolidated balance sheets is provided below. 2022 2021 (in millions) Noncontrolling interest: Balance as of January 1 $ 2,830 $ 2,681 Earnings attributable to noncontrolling interest 168 24 Declaration of distributions payable (247) (64) Balance as of March 31 $ 2,751 $ 2,641 Distributions payable to noncontrolling interest: Balance as of January 1 $ — $ — Declaration of distributions payable 247 64 Distributions to noncontrolling interest (247) (64) Balance as of March 31 $ — $ —

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	3 Months Ended
	Mar. 31, 2022
Equity [Abstract]
Schedule of changes to AOCI	Changes to accumulated other comprehensive loss and the impact on other comprehensive income (loss) are as follows: Foreign Unrealized Defined Accumulated (in millions) Balance as of December 31, 2020 $ (144) $ 4 $ (180) $ (320) Reclassification to earnings (1) — — 2 2 Effect of exchange rate changes and deferred taxes 14 — (1) 13 Balance as of March 31, 2021 $ (130) $ 4 $ (179) $ (305) Balance as of December 31, 2021 $ (141) $ 4 $ (120) $ (257) Reclassification to earnings (1) — — 1 1 Effect of exchange rate changes and deferred taxes (13) — 3 (10) Balance as of March 31, 2022 $ (154) $ 4 $ (116) $ (266) ____________________________________________________________________________ (1) Reclassifications out of accumulated other comprehensive loss to the consolidated statements of operations during the three months ended March 31, 2022 and 2021 were not material.

Segment Disclosures (Tables)

Segment Disclosures (Tables)	3 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
Summary of segment data for sales, cost of sales and gross margin	Segment data for sales, cost of sales and gross margin for the three months ended March 31, 2022 and 2021 are presented in the table below. Ammonia (1) Granular Urea (2) UAN (2) AN (2) Other (2) Consolidated (in millions) Three months ended March 31, 2022 Net sales $ 640 $ 765 $ 1,015 $ 223 $ 225 $ 2,868 Cost of sales 280 270 345 171 104 1,170 Gross margin $ 360 $ 495 $ 670 $ 52 $ 121 1,698 Total other operating costs and expenses 66 Equity in earnings of operating affiliate 26 Operating earnings $ 1,658 Three months ended March 31, 2021 Net sales $ 206 $ 399 $ 232 $ 105 $ 106 $ 1,048 Cost of sales 80 264 230 95 90 759 Gross margin $ 126 $ 135 $ 2 $ 10 $ 16 289 Total other operating costs and expenses 53 Equity in earnings of operating affiliate 11 Operating earnings $ 247 _______________________________________________________________________________ (1) Cost of sales and gross margin for the Ammonia segment for the three months ended March 31, 2021 include a $112 million gain on the net settlement of certain natural gas contracts with our suppliers. See Note 13—Derivative Financial Instruments for additional information. (2) The cost of the products that are upgraded into other products is transferred at cost into the upgraded product results.

Revenue Recognition - Narrative

Revenue Recognition - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
Net sales	$ 2,868	$ 1,048
Customer advances	598		$ 700
Contract with Customer, Liability, Revenue Recognized	$ 560	$ 85

Revenue Recognition - Revenue b

Revenue Recognition - Revenue by Product and by Geography (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Disaggregation of Revenue [Line Items]
Net sales	$ 2,868	$ 1,048
North America
Disaggregation of Revenue [Line Items]
Net sales	2,568	907
Europe and Other
Disaggregation of Revenue [Line Items]
Net sales	300	141
Ammonia(1)
Disaggregation of Revenue [Line Items]
Net sales	640	206
Ammonia(1) | North America
Disaggregation of Revenue [Line Items]
Net sales	583	168
Ammonia(1) | Europe and Other
Disaggregation of Revenue [Line Items]
Net sales	57	38
Granular Urea
Disaggregation of Revenue [Line Items]
Net sales	765	399
Granular Urea | North America
Disaggregation of Revenue [Line Items]
Net sales	736	399
Granular Urea | Europe and Other
Disaggregation of Revenue [Line Items]
Net sales	29	0
UAN
Disaggregation of Revenue [Line Items]
Net sales	1,015	232
UAN | North America
Disaggregation of Revenue [Line Items]
Net sales	1,013	222
UAN | Europe and Other
Disaggregation of Revenue [Line Items]
Net sales	2	10
AN(1)
Disaggregation of Revenue [Line Items]
Net sales	223	105
AN(1) | North America
Disaggregation of Revenue [Line Items]
Net sales	83	41
AN(1) | Europe and Other
Disaggregation of Revenue [Line Items]
Net sales	140	64
Other
Disaggregation of Revenue [Line Items]
Net sales	225	106
Other | North America
Disaggregation of Revenue [Line Items]
Net sales	153	77
Other | Europe and Other
Disaggregation of Revenue [Line Items]
Net sales	$ 72	$ 29

Revenue Recognition - Performan

Revenue Recognition - Performance Obligations (Details) $ in Millions	Mar. 31, 2022USD ($)
Revenue from Contract with Customer [Abstract]
Amount of remaining performance obligation	$ 750
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Performance Obligation, description of returns and other similar obligations, unfulfilled minimum contractual right of payment	$ 140
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2022-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Percent	36.00%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2023-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Percent	57.00%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2024-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Percent	57.00%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2025-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Percent	5.00%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2026-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Percent	5.00%

Net Earnings Per Share (Details

Net Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Earnings Per Share [Abstract]
Net earnings attributable to common stockholders	$ 883	$ 151
Basic earnings per common share:
Weighted-average common shares outstanding	208.6	214.9
Net earnings attributable to common stockholders (in dollars per share)	$ 4.23	$ 0.70
Diluted earnings per common share:
Weighted-average common shares outstanding	208.6	214.9
Dilutive common shares—stock options (in shares)	1.3	1.1
Diluted weighted-average common shares outstanding	209.9	216
Net earnings attributable to common stockholders diluted (in dollars per share)	$ 4.21	$ 0.70
Antidilutive securities excluded from computation of EPS (in shares)		1.2

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Finished goods	$ 436	$ 358
Raw materials, spare parts and supplies	52	50
Total inventories	$ 488	$ 408

United Kingdom Energy Crisis _2

United Kingdom Energy Crisis and Impairment Charges (Details) $ in Millions	12 Months Ended
	Dec. 31, 2021USD ($)
Property, Plant and Equipment [Abstract]
Impairment charges	$ 521
Long-lived and intangible asset impairment	236
Goodwill impairment	$ 285

Property, Plant and Equipment_3

Property, Plant and Equipment-Net (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment-Net
Gross property plant and equipment	$ 13,925		$ 13,888
Less: Accumulated depreciation and amortization	7,019		6,807
Net property, plant and equipment	6,906		7,081
Long-lived and intangible asset impairment			236
Construction in progress expenditures incurred but not yet paid	22	$ 33	35	$ 43
Depreciation and amortization	205	200
U.K.
Property, Plant and Equipment-Net
Long-lived assets	400
Land
Property, Plant and Equipment-Net
Gross property plant and equipment	67		68
Machinery and equipment(1)
Property, Plant and Equipment-Net
Gross property plant and equipment	12,763		12,757
Long-lived and intangible asset impairment			169
Changes in plant turnaround activity
Balance at the beginning of the period	355	226	226
Additions	5	10
Depreciation	(36)	(25)
Effect of exchange rate changes	(1)	0
Balance at the end of the period	323	$ 211	355	$ 226
Buildings and improvements(1)
Property, Plant and Equipment-Net
Gross property plant and equipment	916		915
Long-lived and intangible asset impairment			5
Construction in progress
Property, Plant and Equipment-Net
Gross property plant and equipment	179		148
Long-lived and intangible asset impairment			$ 8
Property, plant and equipment | U.K.
Property, Plant and Equipment-Net
Long-lived assets	$ 360

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Goodwill
Goodwill, Beginning Balance	$ 2,091
Effect of exchange rate changes	0
Goodwill, Ending Balance	2,091	$ 2,091
Goodwill, Impairment Loss		(285)
Ammonia(1)
Goodwill
Goodwill, Beginning Balance	579
Effect of exchange rate changes	0
Goodwill, Ending Balance	579	579
Goodwill, Impairment Loss	9
Granular Urea
Goodwill
Goodwill, Beginning Balance	828
Effect of exchange rate changes	0
Goodwill, Ending Balance	828	828
UAN
Goodwill
Goodwill, Beginning Balance	576
Effect of exchange rate changes	0
Goodwill, Ending Balance	576	576
AN(1)
Goodwill
Goodwill, Beginning Balance	69
Effect of exchange rate changes	0
Goodwill, Ending Balance	69	69
Goodwill, Impairment Loss	241
Other(1)
Goodwill
Goodwill, Beginning Balance	39
Effect of exchange rate changes	0
Goodwill, Ending Balance	39	$ 39
Goodwill, Impairment Loss	$ 35

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets (Details 2) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Identifiable intangibles
Gross Carrying Amount	$ 113		$ 115
Accumulated Amortization	(69)		(70)
Net	$ 44		45
Finite-Lived Intangible Asset, Useful Life	20 years
Amortization expense	$ 1	$ 2
Long-lived and intangible asset impairment			236
Total estimated amortization expense for the five succeeding fiscal years
Remainder of 2022	3
2023	4
2024	4
2025	4
2026	4
2027	4
U.K.
Identifiable intangibles
Long-lived assets	400
Customer relationships
Identifiable intangibles
Gross Carrying Amount	83		84
Accumulated Amortization	(59)		(60)
Net	24		24
Long-lived and intangible asset impairment			49
Trade names
Identifiable intangibles
Gross Carrying Amount	30		31
Accumulated Amortization	(10)		(10)
Net	20		21
Long-lived and intangible asset impairment			$ 1
Customer Relationships and Trade Names | U.K.
Identifiable intangibles
Long-lived assets	$ 25

Equity Method Investment-Narrat

Equity Method Investment-Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Equity method investments
Obligation to purchase ammonia (as a percent)	50.00%
Operating equity method investments | Maximum | Property, plant and equipment
Equity method investments
Number of years that the increased basis for property, plant and equipment and identifiable intangibles will be amortized	11 years
Point Lisas Nitrogen Limited (PLNL) | Operating equity method investments
Equity method investments
Ownership interest (as a percent)	50.00%
Equity Method Investment	$ 84
Carrying value of investments in excess of the entity's share of the affiliates' book value	38
Purchases of ammonia from PLNL	$ 74	$ 26

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Schedule of Investments [Line Items]
Cash	$ 207	$ 121
Cash and Cash Equivalents
Cash equivalents:
Cost Basis	2,617	1,628
Unrealized Gains	0	0
Unrealized Losses	0	0
Fair Value	2,617	1,628
U.S. and Canadian government obligations | Cash and Cash Equivalents
Cash equivalents:
Cost Basis	2,324	1,452
Unrealized Gains	0	0
Unrealized Losses	0	0
Fair Value	2,324	1,452
Other debt securities | Cash and Cash Equivalents
Cash equivalents:
Cost Basis	86	55
Unrealized Gains	0	0
Unrealized Losses	0	0
Fair Value	86	55
Nonqualified employee benefit trusts
Cash equivalents:
Cost Basis	17	17
Unrealized Gains	2	3
Unrealized Losses	0	0
Fair Value	$ 19	$ 20

Fair Value Measurements (Deta_2

Fair Value Measurements (Details 2) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Mar. 31, 2022
Assets and liabilities measured at fair value on a recurring basis
Payments for Strategic Venture Compliance	$ 5	$ 5	$ 5	$ 5	$ 5	$ 5
Estimate of Fair Value Measurement
Assets and liabilities measured at fair value on a recurring basis
Fair value of long-term debt, including current portion	4,113						$ 3,781
Reported Value Measurement
Assets and liabilities measured at fair value on a recurring basis
Fair value of long-term debt, including current portion	3,465						3,462
Recurring basis
Assets and liabilities measured at fair value on a recurring basis
Cash equivalents	1,507						2,410
Nonqualified employee benefit trusts	20						19
Derivative Liability	47
Embedded derivative liability	(15)						(15)
Derivative Asset	16						3
Recurring basis | Quoted Prices in Active Markets (Level 1)
Assets and liabilities measured at fair value on a recurring basis
Cash equivalents	1,507						2,410
Nonqualified employee benefit trusts	20						19
Derivative Liability	0
Embedded derivative liability	0						0
Derivative Asset	0						0
Recurring basis | Significant Other Observable Inputs (Level 2)
Assets and liabilities measured at fair value on a recurring basis
Cash equivalents	0						0
Nonqualified employee benefit trusts	0						0
Derivative Liability	47
Embedded derivative liability	(15)						(15)
Derivative Asset	16						3
Recurring basis | Fair Value, Inputs (Level 3)
Assets and liabilities measured at fair value on a recurring basis
Cash equivalents	0						0
Nonqualified employee benefit trusts	0						0
Derivative Liability	0
Embedded derivative liability	0						0
Derivative Asset	$ 0						$ 0

Income Taxes Incomes Taxes (Det

Income Taxes Incomes Taxes (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Operating Loss Carryforwards [Line Items]
Income tax provision (benefit)		$ (401)	$ (18)
Effective Income Tax Rate Reconciliation, Tax Settlement, Amount			22
Less: Net earnings attributable to noncontrolling interest		$ 168	$ 24
Effective Income Tax Rate Reconciliation, period increase/(decrease) due to noncontrolling interest		3.70%	1.30%
Effective Income Tax Rate Reconciliation, Percent		27.60%	9.30%
Effective Income Tax Rate Reconciliation, Tax Expense (Benefit), Share-based Payment Arrangement, Amount		$ 20
Income taxes payable	$ 408	408		$ 24
Unrecognized Tax Benefits	349	349		27
Income Tax Examination, Penalties and Interest Accrued	96	$ 96		$ 4
Effective Income Tax Rate Reconciliation, Percent		27.60%	9.30%
Foreign Tax Authority | Canada Revenue Agency [Member]
Operating Loss Carryforwards [Line Items]
Effective Income Tax Rate Reconciliation, Tax Settlement, Foreign, Amount		$ 78
Income Tax Examination, Liability (Refund) Adjustment from Settlement with Taxing Authority	225	225
Income Tax Examination, Interest Expense	98
Foreign Tax Authority | Canada Revenue Agency [Member] | Tax Years 2006-2011
Operating Loss Carryforwards [Line Items]
Income Tax Examination, Liability (Refund) Adjustment from Settlement with Taxing Authority	127	127
Unrecognized Tax Benefits, Interest on Income Taxes Accrued	99	99
Effective Income Tax Rate Reconciliation, Tax Contingency, Foreign, Amount		76
Foreign Tax Authority | Canada Revenue Agency [Member] | Tax Years 2012 and After
Operating Loss Carryforwards [Line Items]
Unrecognized Tax Benefits, Decrease Resulting from Prior Period Tax Positions		319
Income Taxes Receivable, Noncurrent	329	329
Accrued Income Taxes, Noncurrent	28	28
Unrecognized Tax Benefits, Income Tax Penalties Accrued	91	91
Foreign Tax Authority | Canada Revenue Agency [Member] | Tax Year 2012 and After
Operating Loss Carryforwards [Line Items]
Unrecognized Tax Benefits, Interest on Income Taxes Accrued	63	63
Effective Income Tax Rate Reconciliation, Tax Contingency, Foreign, Amount		2
Income Tax Examination, Estimate of Possible Loss		12
Unrecognized Tax Benefits, Estimated Interest on Income Taxes Accrued, Net of Taxes	69	69
Domestic Tax Authority
Operating Loss Carryforwards [Line Items]
Income Taxes Receivable	$ 51	$ 51

Financing Agreements (Details)

Financing Agreements (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Debt Instruments
Principal	$ 3,500	$ 3,500
Carrying amount	3,462	3,465
Current Maturities of long-term debt	500	0
Current maturities of long-term debt	499	0
Long-term debt, net of current maturities	3,000	3,500
Long-term debt, net of current maturities	2,963	3,465
CF Industries
Debt Instruments
Unamortized debt discount	8	8
Total deferred debt issuance costs	$ 30	$ 27
CF Industries | Senior Notes | Senior notes 3.450% due 2023
Financing agreements
Interest rate (as a percent)	3.45%	3.45%
Debt Instruments
Effective Interest Rate (percent)	3.665%	3.665%
Principal	$ 500	$ 500
Carrying amount	$ 499	$ 499
CF Industries | Senior Notes | Senior notes 5.150% due 2034
Financing agreements
Interest rate (as a percent)	5.15%	5.15%
Debt Instruments
Effective Interest Rate (percent)	5.293%	5.293%
Principal	$ 750	$ 750
Carrying amount	$ 741	$ 741
CF Industries | Senior Notes | Senior notes 4.950% due 2043
Financing agreements
Interest rate (as a percent)	4.95%	4.95%
Debt Instruments
Effective Interest Rate (percent)	5.04%	5.04%
Principal	$ 750	$ 750
Carrying amount	$ 741	$ 742
CF Industries | Senior Notes | Senior notes 5.375% due 2044
Financing agreements
Interest rate (as a percent)	5.375%	5.375%
Debt Instruments
Effective Interest Rate (percent)	5.478%	5.478%
Principal	$ 750	$ 750
Carrying amount	$ 740	$ 741
CF Industries | Senior Notes | Senior Notes 4.500% Due 2026
Financing agreements
Interest rate (as a percent)	4.50%	4.50%
Debt Instruments
Effective Interest Rate (percent)	4.783%	4.783%
Principal	$ 750	$ 750
Carrying amount	$ 741	$ 742

Financing Agreements - Narrativ

Financing Agreements - Narrative (Details) - USD ($)	Mar. 20, 2021	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021	Dec. 05, 2019	Jul. 29, 2016
Financing agreements
Loss on debt extinguishment		$ 0	$ 6,000,000
Letter of Credit | Letter of Credit
Financing agreements
Maximum borrowing capacity		250,000,000
Line of Credit Facility, Fair Value of Amount Outstanding		197,000,000
CF Industries | Credit Agreement
Financing agreements
Available credit		750,000,000
Outstanding letters of credit		0
Long-term Line of Credit		$ 0		$ 0
CF Industries | Amendment No. 4 to the Third Amended and Restated Revolving Credit Agreement | Letter of Credit | Revolving Credit Facility
Financing agreements
Maximum borrowing capacity					$ 750,000,000
CF Industries | July 2016 Credit Agreement Amendment | Letter of Credit | Letter of Credit
Financing agreements
Maximum borrowing capacity						$ 125,000,000
CF Industries | Senior notes 3.450% due 2023 | Senior Notes
Financing agreements
Interest rate (as a percent)		3.45%		3.45%
CF Industries | Senior Notes 3.400% Due 2021 | Senior Notes
Financing agreements
Interest rate (as a percent)				3.40%
Early Repayment of Senior Debt	$ 250,000,000
Extinguishment of Debt, Amount	$ 258,000,000

Interest Expense (Details)

Interest Expense (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Interest Expense [Abstract]
Interest on borrowings(1)	$ 42	$ 46
Fees on financing agreements(1)	2	2
Interest on tax liabilities(2)	198	0
Interest Costs Capitalized	(1)	0
Interest expense	$ 241	$ 48

Derivative Financial Instrume_3

Derivative Financial Instruments (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Gain (Loss) on Derivative, Net	$ 50	$ 115
Winter Storm Uri
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) on Sale of Derivatives	0	112
Energy Related Derivative | Not Designated as Hedging Instrument | Cost of Sales
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized Gain (Loss) on Derivatives	33	6
Gain (Loss) on Sale of Derivatives	$ 17	$ (3)

Derivative Financial Instrume_4

Derivative Financial Instruments (Details 2) MMBTU in Millions	3 Months Ended
	Mar. 31, 2022USD ($)MMBTU	Mar. 31, 2021USD ($)	Dec. 31, 2021USD ($)MMBTU
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Notional Nonmonetary Amount of Price Risk Derivative Instruments Not Designated as Hedging Instruments | MMBTU	2.9		60
Percentage of Consumption Hedged by Derivatives	45.00%
Fair values of derivatives on consolidated balance sheets
Cash collateral on deposit with derivative counterparties	$ 0		$ 0
Aggregate fair value of the derivative instruments with credit risk related contingent features in a net liability position	0		31,000,000
Cash collateral on deposit with derivative counterparties	0		0
Winter Storm Uri
Fair values of derivatives on consolidated balance sheets
Gain (Loss) on Sale of Derivatives	0	$ 112,000,000
Not Designated as Hedging Instrument
Fair values of derivatives on consolidated balance sheets
Derivative Asset	3,000,000		16,000,000
Derivative Liability	0		47,000,000
Cash collateral on deposit with derivative counterparties	0		0
Cash collateral on deposit with derivative counterparties	0		0
Not Designated as Hedging Instrument | Energy Related Derivative
Fair values of derivatives on consolidated balance sheets
Derivative Asset	3,000,000		16,000,000
Derivative Liability	0		$ 47,000,000
Designated as Hedging Instrument
Fair values of derivatives on consolidated balance sheets
Derivative Asset	$ 0

Derivative Financial Instrume_5

Derivative Financial Instruments (Details 3) - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Derivative [Line Items]
Cash collateral on deposit with derivative counterparties	$ 0	$ 0
Not Designated as Hedging Instrument
Derivative [Line Items]
Derivative Asset	3,000,000	16,000,000
Derivative, Collateral, Obligation to Return Securities	0	0
Derivative, Collateral, Obligation to Return Cash	0	0
Derivative Asset, Fair Value, Offset Against Collateral, Net of Not Subject to Master Netting Arrangement, Policy Election	3,000,000	16,000,000
Derivative Liability	0	(47,000,000)
Derivative Liability, Not Subject to Master Netting Arrangement Deduction	0	0
Cash collateral on deposit with derivative counterparties	0	0
Derivative Liability, Fair Value, Offset Against Collateral, Net of Not Subject to Master Netting Arrangement, Policy Election	0	(47,000,000)
Derivative Assets (Liabilities), at Fair Value, Net	3,000,000	(31,000,000)
Net Derivative (Asset) Liability, Not Subject to Master Netting Arrangement Deduction	0	0
Derivative, Collateral, Obligation to Return Cash (Right to Reclaim Cash)	0	0
Net Derivative Asset (Liability), Fair Value, Offset Against Collateral, Net of Not Subject to Master Netting Arrangement, Policy Election	$ 3,000,000	$ (31,000,000)

Noncontrolling Interest (Detail

Noncontrolling Interest (Details) $ in Millions	3 Months Ended
	Mar. 31, 2022USD ($)T	Mar. 31, 2021USD ($)	Feb. 01, 2016
Noncontrolling interest
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders | $	$ 247	$ 64
CF Industries Nitrogen, LLC
Noncontrolling interest
Maximum Annual Granular Urea Tons Eligible for Purchase | T	1,100,000
Maximum Annual UAN Tons Eligible for Purchase | T	580,000
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders | $	$ 247	$ 64
CHS Inc. | CF Industries Nitrogen, LLC
Noncontrolling interest
Percentage of ownership interest held by outside investors			11.00%

Noncontrolling Interest (Deta_2

Noncontrolling Interest (Details 2) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Noncontrolling interest
Beginning balance	$ 2,830
Earnings attributable to noncontrolling interests	168	$ 24
Distribution declared to noncontrolling interest	(247)	(64)
Ending balance	2,751
CF Industries Nitrogen, LLC
Noncontrolling interest
Beginning balance	2,830	2,681
Earnings attributable to noncontrolling interests	168	24
Distribution declared to noncontrolling interest	(247)	(64)
Ending balance	2,751	2,641
Distributions payable to noncontrolling interests:
Beginning balance	0	0
Declaration of distributions payable	247	64
Distributions to noncontrolling interest	(247)	(64)
Ending balance	$ 0	$ 0

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Changes to accumulated other comprehensive income (loss)
Balance at the beginning of the period	$ (257)
Balance at the end of the period	(266)
Foreign Currency Translation Adjustment
Changes to accumulated other comprehensive income (loss)
Balance at the beginning of the period	(141)	$ (144)
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax	0	0
Effect of exchange rate changes and deferred taxes	(13)	14
Balance at the end of the period	(154)	(130)
Unrealized Gain on Derivatives
Changes to accumulated other comprehensive income (loss)
Balance at the beginning of the period	4	4
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax	0	0
Effect of exchange rate changes and deferred taxes	0	0
Balance at the end of the period	4	4
Defined Benefit Plans
Changes to accumulated other comprehensive income (loss)
Balance at the beginning of the period	(120)	(180)
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax	1	2
Effect of exchange rate changes and deferred taxes	3	(1)
Balance at the end of the period	(116)	(179)
Accumulated Other Comprehensive Loss
Changes to accumulated other comprehensive income (loss)
Balance at the beginning of the period		(320)
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax	(1)	(2)
Effect of exchange rate changes and deferred taxes	(10)	13
Balance at the end of the period	$ (266)	$ (305)

Stockholders' Equity (Details 2

Stockholders' Equity (Details 2) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Nov. 03, 2021
Equity [Abstract]
Stock Repurchase Program, Authorized Amount		$ 1,500
Stock Repurchased and Retired During Period, Shares	1,300,000
Stock Repurchased During Period, Value	$ 100
Treasury Stock, Shares, Retired	27,962

Contingencies (Details)

Contingencies (Details)	Apr. 17, 2015PlaintiffEntityInsurance_companyPeople	Apr. 17, 2013People	Sep. 30, 2016mineprocessingFacility
Loss Contingencies [Line Items]
Loss contingency, number of processing facilities | processingFacility			3
Pending Litigation
Loss Contingencies [Line Items]
Number of people killed		15
Number of people injured		200
Number of plaintiffs | Plaintiff	400
Number of entities that filed claims | Entity	9
Number of people that filed claims	325
Number of insurance companies that filed claims | Insurance_company	80
IDAHO
Loss Contingencies [Line Items]
Loss contingency, number of mines | mine			18

Segment Disclosures (Details)

Segment Disclosures (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Segment data
Net sales	$ 2,868	$ 1,048
Cost of sales	1,170	759
Gross margin	1,698	289
Total other operating costs and expenses	66	53
Equity in earnings of operating affiliate	26	11
Operating earnings	1,658	247
Winter Storm Uri
Segment data
Gain on sale of derivatives	0	112
Ammonia(1)
Segment data
Net sales	640	206
Granular Urea
Segment data
Net sales	765	399
UAN
Segment data
Net sales	1,015	232
AN(1)
Segment data
Net sales	223	105
Operating Segments | Ammonia(1)
Segment data
Net sales	640	206
Cost of sales	280	80
Gross margin	360	126
Operating Segments | Granular Urea
Segment data
Net sales	765	399
Cost of sales	270	264
Gross margin	495	135
Operating Segments | UAN
Segment data
Net sales	1,015	232
Cost of sales	345	230
Gross margin	670	2
Operating Segments | AN(1)
Segment data
Net sales	223	105
Cost of sales	171	95
Gross margin	52	10
Operating Segments | Other(1)
Segment data
Net sales	225	106
Cost of sales	104	90
Gross margin	$ 121	$ 16

Subsequent Event (Details)

Subsequent Event (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Mar. 31, 2021	Apr. 27, 2022	Apr. 21, 2022	Dec. 31, 2021
Subsequent Event [Line Items]
Loss on debt extinguishment		$ 0	$ (6)
Principal		3,500				$ 3,500
Long-term debt		$ 3,462				3,465
Dividends payable, amount per share (in dollars per share)		$ 0.30
Subsequent Event
Subsequent Event [Line Items]
Dividends payable, amount per share (in dollars per share)				$ 0.40
CF Industries | Senior notes 3.450% due 2023 | Senior Notes
Subsequent Event [Line Items]
Principal		$ 500				500
Long-term debt		$ 499				$ 499
CF Industries | Senior notes 3.450% due 2023 | Senior Notes | Subsequent Event
Subsequent Event [Line Items]
Long-term debt					$ 513
Forecast | CF Industries | Senior notes 3.450% due 2023 | Senior Notes
Subsequent Event [Line Items]
Loss on debt extinguishment	$ (8)