CF Industries Holdings (CF) FY2012 results: revenue $6.1 billion, up 0.1% on the year
CF Industries Holdings, Inc. (CF) reported revenue of $6.1 billion for fiscal 2012, the year ended 31 December 2012, up 0.1% on the year before. Net income was $1.8 billion, up 20.1%, and diluted earnings per share $5.72. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2013.
Revenue
$6.1 billion
+0.1% on the year
FY2007FY2012
Operating margin
48.5%
45.8% a year earlier
FY2007FY2012
Net income
$1.8 billion
+20.1% on the year
FY2007FY2012
Diluted EPS
$5.72
+30.1% on the year
FY2007FY2012
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Revenue
6,104
6,098
3,965
+0.1%
Cost of revenue
2,991
3,202
2,786
-6.6%
Gross profit
3,113
2,896
1,180
+7.5%
Gross margin
51.0%
47.5%
29.7%
Selling, general and administrative
152
130
106
+16.8%
Operating income
2,959
2,790
896
+6.1%
Operating margin
48.5%
45.8%
22.6%
Interest expense
135
147
221
-8.1%
Pre-tax income
2,830
2,646
688
+7.0%
Income tax
964
926
274
+4.1%
Effective tax rate
34.1%
35.0%
39.8%
Net income
1,849
1,539
349
+20.1%
Net margin
30.3%
25.2%
8.8%
Diluted EPS
$5.72
$4.40
$1.07
+30.1%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Operating cash flow
2,376
2,079
1,194
+14.3%
Capital expenditure
524
247
258
+111.8%
Free cash flow
1,852
1,832
936
+1.1%
Free cash flow margin
30.3%
30.0%
23.6%
Cash from investing
n/a
n/a
-3,070
Cash from financing
n/a
n/a
1,977
Depreciation and amortisation
420
416
395
+0.9%
Share-based compensation
11.9
10.6
8.3
+12.3%
Buybacks
500
1,000
n/a
-50.0%
Dividends paid
103
68.7
26.2
+49.5%
Dividend per share
$0.32
$0.20
$0.08
+60.0%
Diluted shares, weighted
324m
350m
327m
-7.6%
Shares outstanding at period end
315m
327m
356m
-3.8%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
5,902
4,547
4,050
+29.8%
Non-controlling interest
380
386
383
-1.5%
Debt
1,600
1,613
1,954
-0.8%
Other liabilities
2,285
2,429
2,371
-5.9%
Total liabilities and equity
10,167
8,974
8,758
+13.3%
Fixed assets
3,900
3,736
3,942
+4.4%
Goodwill
2,064
2,064
2,064
0.0%
Intangible assets
49.6
53.4
57.2
-7.1%
Investments
n/a
n/a
3.1
Cash and equivalents
2,275
1,207
798
+88.5%
Receivables
217
269
239
-19.3%
Inventory
278
304
270
-8.6%
Other assets
1,382
1,340
1,384
+3.1%
Total assets
10,167
8,974
8,758
+13.3%
10-K for the year ended 31 December 2012, filed 27 February 2013: the filing.