XML 43 R27.htm IDEA: XBRL DOCUMENT
v3.22.0.1

Noncontrolling Interest | 12 Months Ended
--- | ---
Dec. 31, 2021
Noncontrolling Interest [Abstract] |
Noncontrolling Interest | Noncontrolling Interest A reconciliation of the beginning and ending balances of noncontrolling interest and distributions payable to the noncontrolling interest on our consolidated balance sheets is provided below.
| Year ended December 31,
| 2021 |  |  |  |  |  | 2020 |  |  |  |  |  | 2019
| (in millions) |  |
Noncontrolling interest: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance as of January 1 | $ | 2,681 |  |  |  |  |  |  | $ | 2,740 |  |  |  |  |  |  | $ | 2,773 |  |  |  |  |
Earnings attributable to noncontrolling interest | 343 |  |  |  |  |  |  | 115 |  |  |  |  |  |  | 153 |  |  |  |  |
Declaration of distributions payable | (194) |  |  |  |  |  |  | (174) |  |  |  |  |  |  | (186) |  |  |  |  |
Balance as of December 31 | $ | 2,830 |  |  |  |  |  |  | $ | 2,681 |  |  |  |  |  |  | $ | 2,740 |  |  |  |  |
Distributions payable to noncontrolling interest: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance as of January 1 | $ | — |  |  |  |  |  |  | $ | — |  |  |  |  |  |  | $ | — |  |  |  |  |
Declaration of distributions payable | 194 |  |  |  |  |  |  | 174 |  |  |  |  |  |  | 186 |  |  |  |  |
Distributions to noncontrolling interest | (194) |  |  |  |  |  |  | (174) |  |  |  |  |  |  | (186) |  |  |  |  |
Balance as of December 31 | $ | — |  |  |  |  |  |  | $ | — |  |  |  |  |  |  | $ | — |  |  |  |  |
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. CHS also receives deliveries pursuant to a supply agreement under which CHS has the right to purchase annually from CFN up to approximately 1.1 million tons of granular urea and 580,000 tons of UAN at market prices. As a result of its equity interest in CFN, CHS is entitled to semi-annual cash distributions from CFN. We are also entitled to semi-annual cash distributions from CFN. The amounts of distributions from CFN to us and CHS are based generally on the profitability of CFN and determined based on the volume of granular urea and UAN sold by CFN to us and CHS pursuant to supply agreements, less a formula driven amount based primarily on the cost of natural gas used to produce the granular urea and UAN, and adjusted for the allocation of items such as operational efficiencies and overhead amounts. Additionally, under the terms of the strategic venture, we recognized an embedded derivative related to our credit rating. See Note 10—Fair Value Measurements for additional information. On January 31, 2022, the CFN Board of Managers approved semi-annual distribution payments for the distribution period ended December 31, 2021 in accordance with CFN’s limited liability company agreement. On January 31, 2022, CFN distributed $247 million to CHS for the distribution period ended December 31, 2021.

X
- Definition The entire disclosure for noncontrolling interest in consolidated subsidiaries, which could include the name of the subsidiary, the ownership percentage held by the parent, the ownership percentage held by the noncontrolling owners, the amount of the noncontrolling interest, the location of this amount on the balance sheet (when not reported separately), an explanation of the increase or decrease in the amount of the noncontrolling interest, the noncontrolling interest share of the net Income or Loss of the subsidiary, the location of this amount on the income statement (when not reported separately), the nature of the noncontrolling interest such as background information and terms, the amount of the noncontrolling interest represented by preferred stock, a description of the preferred stock, and the dividend requirements of the preferred stock. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -URI http://asc.fasb.org/topic&trid=2197479 + Details
Name: | us-gaap_MinorityInterestDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_NoncontrollingInterestAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration