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Condensed Consolidating Financial Statements
 6 Months Ended
Jun. 30, 2014
Condensed Consolidating Financial Statements  
Condensed Consolidating Financial Statements

20.   Condensed Consolidating Financial Statements

        The following condensed consolidating financial information is presented in accordance with SEC Regulation S-X Rule 3-10, Financial Statements of Guarantors and Issuers of Guaranteed Securities Registered or Being Registered, and relates to the Notes issued by CF Industries, Inc. (CF Industries), a 100% owned subsidiary of CF Industries Holdings, Inc. (Parent), described in Note 13—Financing Agreements, and the full and unconditional guarantee of such Notes by Parent and to debt securities of CF Industries, and the full and unconditional guarantee thereof by Parent, that may be offered and sold from time to time under the registration statement on Form S-3 filed by Parent and CF Industries with the SEC on April 22, 2013. Under the supplemental indentures governing the Notes, the Notes are to be guaranteed by Parent and each of its current and future subsidiaries, other than CF Industries, that from time to time is a borrower or guarantor under the Credit Agreement, or any renewal, replacement or refinancing thereof. At June 30, 2014, none of such subsidiaries of Parent was, or was required to be, a guarantor of the Notes. In the event that a subsidiary of Parent, other than CF Industries, becomes a borrower or a guarantor under the Credit Agreement, it would be required to become a guarantor of the Notes. For purposes of the presentation of condensed consolidating financial information, the subsidiaries of Parent other than CF Industries are referred to as the Other Subsidiaries.

        Presented below are condensed consolidating statements of operations and statements of cash flows for Parent, CF Industries and the Other Subsidiaries for the three and six months ended June 30, 2014 and 2013, and condensed consolidating balance sheets for Parent, CF Industries and the Other Subsidiaries at June 30, 2014 and December 31, 2013. The condensed consolidating financial information presented below is not necessarily indicative of the financial position, results of operations, comprehensive income or cash flows of Parent, CF Industries or the Other Subsidiaries on a stand-alone basis.

        In this condensed consolidating financial information, investments in subsidiaries are presented under the equity method, in which our investments are recorded at cost and adjusted for our ownership share of a subsidiary's cumulative results of operations, distributions and other equity changes, and the eliminating entries reflect primarily intercompany transactions such as sales, accounts receivable and accounts payable and the elimination of equity investments and earnings of subsidiaries.


CF INDUSTRIES HOLDINGS, INC.

Condensed, Consolidating Statement of Operations

 
   Three months ended June 30, 2014  
 
   Parent   CF Industries   Other
Subsidiaries		   Eliminations   Consolidated  
 
   (in millions)
  

Net sales

   $ —   $ 95.7   $ 1,553.8   $ (176.8 ) $ 1,472.7  

Cost of sales

     —     95.7     963.5     (176.8 )   882.4  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Gross margin

     —     —     590.3     —     590.3  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Selling, general and administrative expenses

     0.9     0.3     38.3     —     39.5  

Other operating—net

     —     —     21.6     —     21.6  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total other operating costs and expenses

     0.9     0.3     59.9     —     61.1  

Equity in earnings of operating affiliates

     —     —     2.1     —     2.1  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Operating (loss) earnings

     (0.9 )   (0.3 )   532.5     —     531.3  

Interest expense

     —     65.9     (15.1 )   (0.1 )   50.7  

Interest income

     —     (0.1 )   (0.3 )   0.1     (0.3 )

Net (earnings) of wholly-owned subsidiaries

     (313.1 )   (356.6 )   —     669.7     —  

Other non-operating—net

     (0.1 )   0.1     0.7     —     0.7  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Earnings before income taxes and equity in earnings of non-operating affiliates

     312.3     290.4     547.2     (669.7 )   480.2  

Income tax (benefit) provision

     (0.3 )   (22.7 )   180.2     —     157.2  

Equity in earnings of non-operating affiliates—net of taxes

     —     —     1.7     —     1.7  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Net earnings

     312.6     313.1     368.7     (669.7 )   324.7  

Less: Net earnings attributable to noncontrolling interest

     —     —     12.1     —     12.1  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Net earnings attributable to common stockholders

   $ 312.6   $ 313.1   $ 356.6   $ (669.7 ) $ 312.6  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                       

Condensed, Consolidating Statement of Comprehensive Income

 
   Three months ended June 30, 2014  
 
   Parent   CF Industries   Other
Subsidiaries		   Eliminations   Consolidated  
 
   (in millions)
  

Net earnings

   $ 312.6   $ 313.1   $ 368.7   $ (669.7 ) $ 324.7  

Other comprehensive income

     29.6     29.6     29.6     (59.2 )   29.6  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Comprehensive income

     342.2     342.7     398.3     (728.9 )   354.3  

Less: Comprehensive income attributable to noncontrolling interest

     —     —     12.1     —     12.1  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Comprehensive income attributable to common stockholders

   $ 342.2   $ 342.7   $ 386.2   $ (728.9 ) $ 342.2  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                       


Condensed, Consolidating Statement of Operations

 
   Six months ended June 30, 2014  
 
   Parent   CF Industries   Other
Subsidiaries		   Eliminations   Consolidated  
 
   (in millions)
  

Net sales

   $ —   $ 467.7   $ 2,776.8   $ (639.2 ) $ 2,605.3  

Cost of sales

     —     284.0     1,927.4     (639.2 )   1,572.2  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Gross margin

     —     183.7     849.4     —     1,033.1  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Selling, general and administrative expenses

     1.6     1.7     77.9     —     81.2  

Other operating—net

     —     (0.3 )   16.1     —     15.8  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total other operating costs and expenses

     1.6     1.4     94.0     —     97.0  

Gain on sale of phosphate business

     —     761.5     (14.4 )   —     747.1  

Equity in earnings of operating affiliates

     —     —     17.9     —     17.9  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Operating earnings (loss)

     (1.6 )   943.8     758.9     —     1,701.1  

Interest expense

     —     115.3     (24.4 )   (0.2 )   90.7  

Interest income

     —     (0.2 )   (0.5 )   0.2     (0.5 )

Net (earnings) of wholly-owned subsidiaries

     (1,022.1 )   (507.9 )   —     1,530.0     —  

Other non-operating—net

     (0.1 )   —     0.7     —     0.6  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Earnings before income taxes and equity in earnings (losses) of non-operating affiliates

     1,020.6     1,336.6     783.1     (1,530.0 )   1,610.3  

Income tax (benefit) provision

     (0.5 )   314.4     256.5     —     570.4  

Equity in earnings (losses) of non-operating affiliates—net of taxes

     —     (0.1 )   5.3     —     5.2  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Net earnings

     1,021.1     1,022.1     531.9     (1,530.0 )   1,045.1  

Less: Net earnings attributable to noncontrolling interest

     —     —     24.0     —     24.0  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Net earnings attributable to common stockholders

   $ 1,021.1   $ 1,022.1   $ 507.9   $ (1,530.0 ) $ 1,021.1  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                       


Condensed, Consolidating Statement of Comprehensive Income

 
   Six months ended June 30, 2014  
 
   Parent   CF Industries   Other
Subsidiaries		   Eliminations   Consolidated  
 
   (in millions)
  

Net earnings

   $ 1,021.1   $ 1,022.1   $ 531.9   $ (1,530.0 ) $ 1,045.1  

Other comprehensive income

     20.2     20.2     20.2     (40.4 )   20.2  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Comprehensive income

     1,041.3     1,042.3     552.1     (1,570.4 )   1,065.3  

Less: Comprehensive income attributable to noncontrolling interest

     —     —     24.0     —     24.0  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Comprehensive income attributable to common stockholders

   $ 1,041.3   $ 1,042.3   $ 528.1   $ (1,570.4 ) $ 1,041.3  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                       


CF INDUSTRIES HOLDINGS, INC.

Condensed, Consolidating Statement of Operations

 
   Three months ended June 30, 2013  
 
   Parent   CF Industries   Other
Subsidiaries		   Eliminations   Consolidated  
 
   (in millions)
  

Net sales

   $ —   $ 269.8   $ 1,752.2   $ (307.1 ) $ 1,714.9  

Cost of sales

     —     200.5     955.1     (305.9 )   849.7  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Gross margin

     —     69.3     797.1     (1.2 )   865.2  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Selling, general and administrative expenses

     0.7     3.2     40.6     —     44.5  

Other operating—net

     —     3.2     (6.7 )   —     (3.5 )
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total other operating costs and expenses

     0.7     6.4     33.9     —     41.0  

Equity in earnings of operating affiliates

     —     —     9.5     —     9.5  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Operating earnings (loss)

     (0.7 )   62.9     772.7     (1.2 )   833.7  

Interest expense

     —     36.1     (3.5 )   (0.3 )   32.3  

Interest income

     —     (0.2 )   (1.1 )   0.3     (1.0 )

Net (earnings) of wholly-owned subsidiaries

     (498.6 )   (481.3 )   —     979.9     —  

Other non-operating—net

     —     —     (0.3 )   —     (0.3 )
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Earnings before income taxes and equity in losses of non-operating affiliates

     497.9     508.3     777.6     (981.1 )   802.7  

Income tax provision (benefit)

     (0.3 )   9.6     273.6     —     282.9  

Equity in losses of non-operating affiliates—net of taxes

     —     (0.1 )   (1.6 )   —     (1.7 )
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Net earnings

     498.2     498.6     502.4     (981.1 )   518.1  

Less: Net earnings attributable to noncontrolling interest

     —     —     21.1     (1.2 )   19.9  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Net earnings attributable to common stockholders

   $ 498.2   $ 498.6   $ 481.3   $ (979.9 ) $ 498.2  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                       

Condensed, Consolidating Statement of Comprehensive Income

 
   Three months ended June 30, 2013  
 
   Parent   CF Industries   Other
Subsidiaries		   Eliminations   Consolidated  
 
   (in millions)
  

Net earnings

   $ 498.2   $ 498.6   $ 502.4   $ (981.1 ) $ 518.1  

Other comprehensive loss

     (5.2 )   (5.2 )   (5.3 )   10.4     (5.3 )
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Comprehensive income

     493.0     493.4     497.1     (970.7 )   512.8  

Less: Comprehensive income attributable to noncontrolling interest

     —     —     21.1     (1.3 )   19.8  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Comprehensive income attributable to common stockholders

   $ 493.0   $ 493.4   $ 476.0   $ (969.4 ) $ 493.0  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                       


Condensed, Consolidating Statement of Operations

 
   Six months ended June 30, 2013  
 
   Parent   CF Industries   Other
Subsidiaries		   Eliminations   Consolidated  
 
   (in millions)
  

Net sales

   $ —   $ 604.7   $ 3,167.0   $ (720.3 ) $ 3,051.4  

Cost of sales

     —     422.5     1,804.9     (716.3 )   1,511.1  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Gross margin

     —     182.2     1,362.1     (4.0 )   1,540.3  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Selling, general and administrative expenses

     1.7     4.8     82.3     —     88.8  

Other operating—net

     —     9.3     1.8     —     11.1  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total other operating costs and expenses

     1.7     14.1     84.1     —     99.9  

Equity in earnings of operating affiliates

     —     —     21.1     —     21.1  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Operating earnings (loss)

     (1.7 )   168.1     1,299.1     (4.0 )   1,461.5  

Interest expense

     —     65.5     6.8     (0.9 )   71.4  

Interest income

     —     (0.6 )   (3.4 )   0.9     (3.1 )

Net (earnings) of wholly-owned subsidiaries

     (905.8 )   (839.6 )   —     1,745.4     —  

Other non-operating—net

     —     —     54.4     —     54.4  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Earnings before income taxes and equity in losses of non-operating affiliates

     904.1     942.8     1,241.3     (1,749.4 )   1,338.8  

Income tax provision (benefit)

     (0.6 )   36.9     354.0     —     390.3  

Equity in losses of non-operating affiliates—net of taxes

     —     (0.1 )   (0.9 )   —     (1.0 )
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Net earnings

     904.7     905.8     886.4     (1,749.4 )   947.5  

Less: Net earnings attributable to noncontrolling interest

     —     —     46.8     (4.0 )   42.8  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Net earnings attributable to common stockholders

   $ 904.7   $ 905.8   $ 839.6   $ (1,745.4 ) $ 904.7  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                       


Condensed, Consolidating Statement of Comprehensive Income

 
   Six months ended June 30, 2013  
 
   Parent   CF Industries   Other
Subsidiaries		   Eliminations   Consolidated  
 
   (in millions)
  

Net earnings

   $ 904.7   $ 905.8   $ 886.4   $ (1,749.4 ) $ 947.5  

Other comprehensive loss

     (65.7 )   (65.7 )   (112.4 )   177.4     (66.4 )
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Comprehensive income

     839.0     840.1     774.0     (1,572.0 )   881.1  

Less: Comprehensive income attributable to noncontrolling interest

     —     —     46.8     (4.7 )   42.1  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Comprehensive income attributable to common stockholders

   $ 839.0   $ 840.1   $ 727.2   $ (1,567.3 ) $ 839.0  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                       


CF INDUSTRIES HOLDINGS, INC.

Condensed, Consolidating Balance Sheet

 
   June 30, 2014  
 
   Parent   CF Industries   Other
Subsidiaries		   Eliminations
and
Reclassifications		   Consolidated  
 
   (in millions)
  

Assets

                                

Current assets:

                                

Cash and cash equivalents

   $ 0.1   $ 370.6   $ 1,823.4   $ —   $ 2,194.1  

Restricted cash

     —     —     645.0     —     645.0  

Accounts and notes receivable—net

     —     2,119.1     434.7     (2,295.5 )   258.3  

Inventories—net

     —     6.9     198.1     —     205.0  

Prepaid income taxes

     1.5     —     254.7     (256.2 )   —  

Deferred income taxes

     —     —     52.5     —     52.5  

Other

     —     14.5     36.3     —     50.8  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total current assets

     1.6     2,511.1     3,444.7     (2,551.7 )   3,405.7  

Property, plant and equipment—net

     —     —     4,605.1     —     4,605.1  

Deferred income taxes

     —     149.7     —     (149.7 )   —  

Investments in and advances to affiliates

     6,128.6     9,042.3     943.0     (15,170.9 )   943.0  

Due from affiliates

     570.7     —     1.7     (572.4 )   —  

Goodwill

     —     —     2,095.7     —     2,095.7  

Other assets

     —     73.3     182.1     —     255.4  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total assets

   $ 6,700.9   $ 11,776.4   $ 11,272.3   $ (18,444.7 ) $ 11,304.9  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                       

Liabilities and Equity

                                

Current liabilities:

                                

Accounts and notes payable and accrued expenses

   $ 2,218.6   $ 125.0   $ 503.8   $ (2,295.5 ) $ 551.9  

Income taxes payable

     —     343.5     —     (256.2 )   87.3  

Customer advances

     —     —     63.4     —     63.4  

Other

     —     14.5     3.2     —     17.7  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total current liabilities

     2,218.6     483.0     570.4     (2,551.7 )   720.3  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Long-term debt

     —     4,592.4     9.0     (9.0 )   4,592.4  

Deferred income taxes

     —     —     979.5     (149.7 )   829.8  

Due to affiliates

     —     572.4     —     (572.4 )   —  

Other noncurrent liabilities

     —     —     317.3     —     317.3  

Equity:

                                

Stockholders' equity:

                                

Preferred stock

     —     —     16.4     (16.4 )   —  

Common stock

     0.5     —     1.1     (1.1 )   0.5  

Paid-in capital

     1,484.9     (12.6 )   8,283.5     (8,270.9 )   1,484.9  

Retained earnings

     3,622.4     6,163.6     755.1     (6,918.7 )   3,622.4  

Treasury stock

     (603.1 )   —     —     —     (603.1 )

Accumulated other comprehensive income (loss)

     (22.4 )   (22.4 )   (22.8 )   45.2     (22.4 )
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total stockholders' equity

     4,482.3     6,128.6     9,033.3     (15,161.9 )   4,482.3  

Noncontrolling interest

     —     —     362.8     —     362.8  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total equity

     4,482.3     6,128.6     9,396.1     (15,161.9 )   4,845.1  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total liabilities and equity

   $ 6,700.9   $ 11,776.4   $ 11,272.3   $ (18,444.7 ) $ 11,304.9  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                       

Condensed, Consolidating Balance Sheet

 
   December 31, 2013  
 
   Parent   CF Industries   Other
Subsidiaries		   Eliminations
and
Reclassifications		   Consolidated  
 
   (in millions)
  

Assets

                                

Current assets:

                                

Cash and cash equivalents

   $ 0.1   $ 20.4   $ 1,690.3   $ —   $ 1,710.8  

Restricted cash

     —     —     154.0     —     154.0  

Accounts and notes receivable—net

     —     287.1     1,172.2     (1,228.4 )   230.9  

Inventories—net

     —     3.3     271.0     —     274.3  

Prepaid income taxes

     0.9     —     33.4     (0.9 )   33.4  

Deferred income taxes

     —     —     60.0     —     60.0  

Assets held for sale

     —     68.1     6.2     —     74.3  

Other

     —     —     92.4     —     92.4  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total current assets

     1.0     378.9     3,479.5     (1,229.3 )   2,630.1  

Property, plant and equipment—net

     —     —     4,101.7     —     4,101.7  

Deferred income taxes

     —     149.7     —     (149.7 )   —  

Investments in and advances to affiliates

     5,193.4     8,161.1     925.8     (13,354.3 )   926.0  

Due from affiliates

     570.7     —     1.7     (572.4 )   —  

Goodwill

     —     —     2,095.8     —     2,095.8  

Noncurrent assets held for sale

     —     679.0     —     —     679.0  

Other assets

     —     60.7     184.8     —     245.5  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total assets

   $ 5,765.1   $ 9,429.4   $ 10,789.3   $ (15,305.7 ) $ 10,678.1  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                       

Liabilities and Equity

                                

Current liabilities:

                                

Accounts and notes payable and accrued expenses

   $ 40.6   $ 354.2   $ 715.9   $ (546.6 ) $ 564.1  

Income taxes payable

     —     29.1     45.1     (0.9 )   73.3  

Customer advances

     —     —     120.6     —     120.6  

Liabilities held for sale

     —     26.8     —     —     26.8  

Other

     648.4     0.9     84.9     (690.7 )   43.5  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total current liabilities

     689.0     411.0     966.5     (1,238.2 )   828.3  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Long-term debt

     —     3,098.1     —     —     3,098.1  

Deferred income taxes

     —     —     982.9     (149.7 )   833.2  

Due to affiliates

     —     572.4     —     (572.4 )   —  

Noncurrent liabilities held for sale

     —     154.5     —     —     154.5  

Other noncurrent liabilities

     —     —     325.6     —     325.6  

Equity:

                                

Stockholders' equity:

                                

Preferred stock

     —     —     16.4     (16.4 )   —  

Common stock

     0.6     —     1.1     (1.1 )   0.6  

Paid-in capital

     1,594.3     (12.6 )   7,823.0     (7,810.4 )   1,594.3  

Retained earnings

     3,725.6     5,248.6     354.5     (5,603.1 )   3,725.6  

Treasury stock

     (201.8 )   —     —     —     (201.8 )

Accumulated other comprehensive income (loss)

     (42.6 )   (42.6 )   (43.0 )   85.6     (42.6 )
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total stockholders' equity

     5,076.1     5,193.4     8,152.0     (13,345.4 )   5,076.1  

Noncontrolling interest

     —     —     362.3     —     362.3  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total equity

     5,076.1     5,193.4     8,514.3     (13,345.4 )   5,438.4  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total liabilities and equity

   $ 5,765.1   $ 9,429.4   $ 10,789.3   $ (15,305.7 ) $ 10,678.1  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                       

CF INDUSTRIES HOLDINGS, INC.

Condensed, Consolidating Statement of Cash Flows

 
   Six months ended June 30, 2014  
 
   Parent   CF Industries   Other
Subsidiaries		   Eliminations   Consolidated  
 
   (in millions)
  

Operating Activities:

                                

Net earnings

   $ 1,021.1   $ 1,022.1   $ 531.9   $ (1,530.0 ) $ 1,045.1  

Adjustments to reconcile net earnings to net cash provided by operating activities:

                                

Depreciation, depletion and amortization

     —     3.3     199.8     —     203.1  

Deferred income taxes

     —     —     1.1     —     1.1  

Stock-based compensation expense

     9.9     —     0.1     —     10.0  

Excess tax benefit from stock-based compensation

     (5.2 )   —     —     —     (5.2 )

Unrealized loss on derivatives

     —     —     61.4     —     61.4  

Gain on sale of phosphate business

     —     (761.5 )   14.4     —     (747.1 )

Loss on disposal of property, plant and equipment

     —     —     1.0     —     1.0  

Undistributed loss (earnings) of affiliates—net

     (1,022.2 )   (507.8 )   (15.1 )   1,530.0     (15.1 )

Due to / from affiliates—net

     5.2     1.8     (7.0 )   —     —  

Changes in:

                                

Accounts and notes receivable—net

     (0.1 )   (248.8 )   697.2     (460.4 )   (12.1 )

Inventories—net

     —     (2.5 )   66.5     —     64.0  

Accrued income taxes

     (0.5 )   314.3     (291.2 )   —     22.6  

Accounts and notes payable and accrued expenses

     (1.9 )   207.5     (696.4 )   460.4     (30.4 )

Customer advances

     —     —     (57.2 )   —     (57.2 )

Other—net

     —     (3.3 )   17.4     —     14.1  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Net cash provided by operating activities            

     6.3     25.1     523.9     —     555.3  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Investing Activities:

                                

Additions to property, plant and equipment

     —     (18.3 )   (666.7 )   —     (685.0 )

Proceeds from sale of property, plant and equipment

     —     —     5.9     —     5.9  

Proceeds from sale of phosphate business

     —     893.1     460.5     —     1,353.6  

Deposits to restricted cash funds

     —     —     (505.0 )   —     (505.0 )

Withdrawals from restricted cash funds

     —     —     14.0     —     14.0  

Other—net

     —     —     16.8     —     16.8  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Net cash provided by (used in) investing activities                        

     —     874.8     (674.5 )   —     200.3  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Financing Activities:

                                

Proceeds from long-term borrowings

     —     1,494.2     —     —     1,494.2  

Short-term debt—net

     1,570.0     (2,026.9 )   456.9     —     —  

Financing fees

     —     (16.0 )   —     —     (16.0 )

Dividends paid on common stock

     (107.2 )   (107.2 )   (107.2 )   214.4     (107.2 )

Distributions to/from noncontrolling interest

     —     —     (23.5 )   —     (23.5 )

Purchases of treasury stock

     (1,591.2 )   —     —     —     (1,591.2 )

Issuances of common stock under employee stock plans

     9.7     —     —     —     9.7  

Excess tax benefit from stock-based compensation            

     5.2     —     —     —     5.2  

Dividends to / from affiliates

     107.2     107.2     —     (214.4 )   —  

Other—net

     —     (1.0 )   (42.0 )   —     (43.0 )
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Net cash provided by (used in) financing activities                        

     (6.3 )   (549.7 )   284.2     —     (271.8 )
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Effect of exchange rate changes on cash and cash equivalents

     —     —     (0.5 )   —     (0.5 )
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Increase (decrease) in cash and cash equivalents

     —     350.2     133.1     —     483.3  

Cash and cash equivalents at beginning of period

     0.1     20.4     1,690.3     —     1,710.8  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Cash and cash equivalents at end of period

   $ 0.1   $ 370.6   $ 1,823.4   $ —   $ 2,194.1  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                       

CF INDUSTRIES HOLDINGS, INC.

Condensed, Consolidating Statement of Cash Flows

 
   Six months ended June 30, 2013  
 
   Parent   CF Industries   Other
Subsidiaries		   Eliminations   Consolidated  
 
   (in millions)
  

Operating Activities:

                                

Net earnings

   $ 904.7   $ 905.8   $ 886.4   $ (1,749.4 ) $ 947.5  

Adjustments to reconcile net earnings to net cash provided by operating activities

                                

Depreciation, depletion and amortization           

     —     29.5     184.2     —     213.7  

Deferred income taxes

     —     —     (44.3 )   —     (44.3 )

Stock-based compensation expense           

     6.0     —     0.2     —     6.2  

Excess tax benefit from stock-based compensation

     (9.6 )   —     —     —     (9.6 )

Unrealized loss on derivatives

     —     —     6.7     —     6.7  

Loss on disposal of property, plant and equipment

     —     —     4.2     —     4.2  

Undistributed loss (earnings) of affiliates—net           

     (905.8 )   (843.6 )   (1.8 )   1,749.4     (1.8 )

Due to / from affiliates—net

     9.6     (0.1 )   (9.5 )   —     —  

Changes in:

                                

Accounts and notes receivable—net

     (18.8 )   (208.9 )   (511.2 )   683.3     (55.6 )

Inventories—net

     —     (9.1 )   (34.8 )   —     (43.9 )

Accrued income taxes

     (0.6 )   36.2     (224.0 )   —     (188.4 )

Accounts and notes payable and accrued expenses

     185.4     245.8     287.4     (683.8 )   34.8  

Customer advances

     —     —     (313.0 )   —     (313.0 )

Other—net

     —     1.7     9.6     0.5     11.8  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Net cash provided by operating activities

     170.9     157.3     240.1     —     568.3  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Investing Activities:

                                

Additions to property, plant and equipment

     —     (40.3 )   (362.2 )   —     (402.5 )

Proceeds from sale of property, plant and equipment

     —     —     7.5     —     7.5  

Sales and maturities of short-term and auction rate securities

     —     5.6     —     —     5.6  

Deposits to restricted cash funds

     —     —     (74.2 )   —     (74.2 )

Other—net

     —     —     (2.3 )   —     (2.3 )
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Net cash used in investing activities

     —     (34.7 )   (431.2 )   —     (465.9 )
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Financing Activities:

                                

Proceeds from long-term borrowings

     —     1,498.0     —     —     1,498.0  

Short-term debt—net

     —     (942.2 )   942.2     —     —  

Financing fees

     —     (13.6 )   —     —     (13.6 )

Dividends paid on common stock

     (48.9 )   (778.9 )   (48.9 )   827.8     (48.9 )

Dividends to / from affiliates

     778.9     48.9     —     (827.8 )   —  

Distributions to/from noncontrolling interest

     —     14.3     (60.1 )   —     (45.8 )

Purchases of treasury stock

     (915.6 )   —     —     —     (915.6 )

Acquisitions of noncontrolling interests in CFL

     —     (364.9 )   (553.8 )   —     (918.7 )

Issuances of common stock under employee stock plans

     5.2     —     —     —     5.2  

Excess tax benefit from stock-based compensation

     9.6     —     —     —     9.6  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Net cash provided by (used in) financing activities

     (170.8 )   (538.4 )   279.4     —     (429.8 )
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Effect of exchange rate changes on cash and cash equivalents

     —     —     (13.4 )   —     (13.4 )
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Increase (decrease) in cash and cash equivalents

     0.1     (415.8 )   74.9     —     (340.8 )

Cash and cash equivalents at beginning of period

     —     440.8     1,834.1     —     2,274.9  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Cash and cash equivalents at end of period

   $ 0.1   $ 25.0   $ 1,909.0   $ —   $ 1,934.1  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​