Business Segments (Tables)

9 Months Ended

Sep. 30, 2025

The following table presents the operating results and capital expenditures information for the Nitrogen Fertilizer Segment:


	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands)	2025		2024		2025		2024
Net sales	$	163,549	$	125,203	$	474,973	$	385,769
Less:
Feedstocks	13,264		11,014		45,899		41,559
Distribution costs	13,587		15,303		41,684		37,208
Change in inventory, net	(1,461)		(54)		(1,746)		(1,063)
Cost of materials and other	25,390		26,263		85,837		77,704
Less:
Direct operating expenses (exclusive of depreciation and amortization and turnaround expenses)	56,455		55,580		170,189		157,997
Turnaround expenses	1,226		181		2,496		303
Depreciation and amortization	19,958		24,732		58,859		64,063
Selling, general and administrative expenses	9,171		7,447		25,094		21,065
Interest expense	9,058		8,465		27,009		25,354
Interest income	(1,471)		(1,224)		(4,115)		(2,938)
Other segment items (1)	690		(48)		676		(384)
Net income	$	43,072	$	3,807	$	108,928	$	42,605

Capital expenditures	$	12,713	$	9,699	$	29,392	$	19,205

(1)Other segment items includes (gain) loss on asset disposal, other (income) expense, and income tax (benefit) expense.