CF Industries Holdings, Inc. Earnings Per Share Disclosure
| Year ended December 31, | |||||||||||||||||
| 2025 | 2024 | 2023 | |||||||||||||||
| (in millions, except per share amounts) | |||||||||||||||||
| Net earnings attributable to common stockholders | $ | 1,455 | $ | 1,218 | $ | 1,525 | |||||||||||
| Basic earnings per common share: | |||||||||||||||||
| Weighted-average common shares outstanding | 162.1 | 180.4 | 193.3 | ||||||||||||||
| Net earnings attributable to common stockholders | $ | 8.98 | $ | 6.75 | $ | 7.89 | |||||||||||
| Diluted earnings per common share: | |||||||||||||||||
| Weighted-average common shares outstanding | 162.1 | 180.4 | 193.3 | ||||||||||||||
| Dilutive common shares—stock-based awards | 0.1 | 0.3 | 0.5 | ||||||||||||||
| Diluted weighted-average common shares outstanding | 162.2 | 180.7 | 193.8 | ||||||||||||||
| Net earnings attributable to common stockholders | $ | 8.97 | $ | 6.74 | $ | 7.87 | |||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 25, 2026 | Showing above |
| 2024 | Feb 20, 2025 | |
| 2023 | Feb 22, 2024 | |
| 2022 | Feb 23, 2023 | |
| 2021 | Feb 24, 2022 | |
| 2020 | Feb 24, 2021 | |
| 2019 | Feb 24, 2020 | |
| 2018 | Feb 22, 2019 | |
| 2017 | Feb 22, 2018 | |
| 2016 | Feb 23, 2017 | |
| 2015 | Feb 25, 2016 | |
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.