DEERFIELD, Ill.--(BUSINESS WIRE)--CF Industries Holdings, Inc. (NYSE: CF) today announced that it has received federal tax refunds of approximately $815 million due to the carryback of certain federal tax losses from the 2016 tax year to prior periods. These tax losses are primarily related to accelerated tax depreciation of the company’s capacity expansion projects that were placed in service in 2016.
The receipt of the federal tax refunds was earlier than CF’s previously stated expectations for the third quarter of 2017. The company intends to use the proceeds to fund the payment of $800 million in debt coming due in 2018.
About CF Industries Holdings, Inc.
CF Industries Holdings, Inc., headquartered in Deerfield, Illinois, through its subsidiaries is a global leader in the manufacturing and distribution of nitrogen products, serving both agricultural and industrial customers. CF Industries operates world-class nitrogen manufacturing complexes in Canada, the United Kingdom and the United States, and distributes plant nutrients through a system of terminals, warehouses, and associated transportation equipment located primarily in the Midwestern United States. The company also owns a 50 percent interest in an ammonia facility in The Republic of Trinidad and Tobago. CF Industries routinely posts investor announcements and additional information on the company’s website at www.cfindustries.com and encourages those interested in the company to check there frequently.