Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

The following table shows the carrying amount of goodwill by reportable segment as of December 31, 2025 and 2024:


	Ammonia		Granular Urea		UAN		AN		Other		Total
	(in millions)
Balance as of December 31, 2024	$	980	$	828	$	576	$	69	$	39	$	2,492

Effect of exchange rate changes	1		—		—		—		—		1

Balance as of December 31, 2025	$	981	$	828	$	576	$	69	$	39	$	2,493

In November 2025, we experienced an incident in the AN upgrade area at our Yazoo City complex that required us to temporarily idle all production at the complex. We concluded that the incident necessitated evaluations of the long-lived assets within our North American AN asset group and the goodwill allocated to our North American AN reporting unit to determine if their fair value had declined to below their carrying value. The results of our goodwill impairment test concluded that the goodwill allocated to our North American AN reporting unit was not impaired. See Note 6—Property, Plant and Equipment—Net for additional information.

Other Intangible Assets

All of our identifiable intangible assets have definite lives and are presented on our consolidated balance sheets at gross carrying amount, net of accumulated amortization, as follows:


	December 31, 2025						December 31, 2024
	Gross Carrying Amount		Accumulated Amortization		Net		Gross Carrying Amount		Accumulated Amortization		Net
	(in millions)

Customer relationships	$	505	$	(91)	$	414	$	505	$	(66)	$	439

Personal property tax agreement	71		(12)		59		71		(6)		65
Carbon credits	—		—		—		3		—		3
Total intangible assets	$	576	$	(103)	$	473	$	579	$	(72)	$	507

Our customer relationships are being amortized over a weighted-average life of approximately 20 years. The intangible asset related to a favorable personal property tax agreement is being amortized over 12 years, representing the remaining term of the agreement as of December 1, 2023, the date of our acquisition of the Waggaman ammonia production facility.

For the years ended December 31, 2025, 2024 and 2023, amortization expense of our definite-lived intangible assets was approximately $32 million, $32 million and $5 million, respectively. Total estimated amortization expense for each of the five succeeding fiscal years is as follows:


	Estimated Amortization Expense
	(in millions)
2026	$	32
2027	32
2028	30
2029	29
2030	29