Condensed Consolidating Financial Statements

The following condensed consolidating financial information is presented in accordance with SEC Regulation S-X Rule 3-10, Financial statements of guarantors and issuers of guaranteed securities registered or being registered, and relates to the Public Senior Notes issued by CF Industries, Inc. (CF Industries), a 100% owned subsidiary of CF Industries Holdings, Inc. (Parent), described in Note 12—Financing Agreements, and the full and unconditional guarantee of the Public Senior Notes by Parent and to debt securities of CF Industries, and the full and unconditional guarantee thereof by Parent, that may be offered and sold from time to time under registration statements that have been or may be filed by Parent and CF Industries with the SEC. In the event that a subsidiary of Parent, other than CF Industries, becomes a borrower or a guarantor under the Revolving Credit Agreement (or any renewal, replacement or refinancing thereof), such subsidiary would be required to become a guarantor of the Public Senior Notes, provided that such requirement will no longer apply with respect to the Public Senior Notes due in 2023, 2034, 2043 and 2044 following the repayment of the Public Senior Notes due in 2018 and 2020 or the subsidiaries of Parent, other than CF Industries, otherwise becoming no longer subject to such a requirement to guarantee the Public Senior Notes due in 2018 and 2020. As of December 31, 2015, none of such subsidiaries of Parent was, or was required to be, a guarantor of the Public Senior Notes. For purposes of the presentation of condensed consolidating financial information, the subsidiaries of Parent other than CF Industries are referred to as the Other Subsidiaries.

Presented below are condensed consolidating statements of operations and statements of cash flows for Parent, CF Industries and the Other Subsidiaries for the years ended December 31, 2015, 2014 and 2013 and condensed consolidating balance sheets for Parent, CF Industries and the Other Subsidiaries as of December 31, 2015 and 2014. The condensed consolidating financial information presented below is not necessarily indicative of the financial position, results of operations, comprehensive income or cash flows of Parent, CF Industries or the Other Subsidiaries on a stand-alone basis.

In these condensed consolidating financial statements, investments in subsidiaries are presented under the equity method, in which our investments are recorded at cost and adjusted for our ownership share of a subsidiary's cumulative results of operations, distributions and other equity changes, and the eliminating entries reflect primarily intercompany transactions such as sales, accounts receivable and accounts payable and the elimination of equity investments and earnings of subsidiaries.

Condensed Consolidating Statement of Operations



	Year ended December 31, 2015
	Parent			CF Industries			Other Subsidiaries			Eliminations			Consolidated
	(in millions)
Net sales	$	—		$	462.2		$	4,542.8		$	(696.7	)	$	4,308.3
Cost of sales	—			361.6			3,096.3			(696.7		)	2,761.2
Gross margin	—			100.6			1,446.5			—			1,547.1
Selling, general and administrative expenses	4.4			7.7			157.7			—			169.8
Transaction costs	45.8			—			11.1			—			56.9
Other operating—net	—			(8.5		)	100.8			—			92.3
Total other operating costs and expenses	50.2			(0.8		)	269.6			—			319.0
Equity in earnings of operating affiliates	—			—			(35.0		)	—			(35.0		)
Operating (losses) earnings	(50.2		)	101.4			1,141.9			—			1,193.1
Interest expense	—			285.1			(81.7		)	(70.2		)	133.2
Interest income	—			(69.0		)	(2.8		)	70.2			(1.6		)
Net earnings of wholly-owned subsidiaries	(731.2		)	(801.5		)	—			1,532.7			—
Other non-operating—net	(0.1		)	—			4.0			—			3.9
Earnings before income taxes and equity in earnings of non-operating affiliates	681.1			686.8			1,222.4			(1,532.7		)	1,057.6
Income tax (benefit) provision	(18.8		)	(44.3		)	458.9			—			395.8
Equity in earnings of non-operating affiliates—net of taxes	—			—			72.3			—			72.3
Net earnings	699.9			731.1			835.8			(1,532.7		)	734.1
Less: Net earnings attributable to noncontrolling interest	—			—			34.2			—			34.2
Net earnings attributable to common stockholders	$	699.9		$	731.1		$	801.6		$	(1,532.7	)	$	699.9

Condensed Consolidating Statement of Comprehensive Income



	Year ended December 31, 2015
	Parent			CF Industries			Other Subsidiaries			Eliminations			Consolidated
	(in millions)
Net earnings	$	699.9		$	731.1		$	835.8		$	(1,532.7	)	$	734.1
Other comprehensive income (losses)	(90.0		)	(90.0		)	(89.5		)	179.5			(90.0		)
Comprehensive income	609.9			641.1			746.3			(1,353.2		)	644.1
Less: Comprehensive income attributable to noncontrolling interest	—			—			34.2			—			34.2
Comprehensive income attributable to common stockholders	$	609.9		$	641.1		$	712.1		$	(1,353.2	)	$	609.9

Condensed Consolidating Statement of Operations



	Year ended December 31, 2014
	Parent			CF Industries			Other Subsidiaries			Eliminations			Consolidated
	(in millions)
Net sales	$	—		$	712.2		$	5,073.4		$	(1,042.4	)	$	4,743.2
Cost of sales	—			528.6			3,478.5			(1,042.4		)	2,964.7
Gross margin	—			183.6			1,594.9			—			1,778.5
Selling, general and administrative expenses	2.8			13.5			135.6			—			151.9
Other operating—net	—			(5.0		)	58.3			—			53.3
Total other operating costs and expenses	2.8			8.5			193.9			—			205.2
Gain on sale of phosphate business	—			764.5			(14.4		)	—			750.1
Equity in earnings of operating affiliates	—			—			43.1			—			43.1
Operating (losses) earnings	(2.8		)	939.6			1,429.7			—			2,366.5
Interest expense	—			246.9			(68.5		)	(0.2		)	178.2
Interest income	—			(0.2		)	(0.9		)	0.2			(0.9		)
Net earnings of wholly-owned subsidiaries	(1,392.0		)	(969.2		)	—			2,361.2			—
Other non-operating—net	(0.1		)	—			2.0			—			1.9
Earnings before income taxes and equity in (losses) earnings of non-operating affiliates	1,389.3			1,662.1			1,497.1			(2,361.2		)	2,187.3
Income tax (benefit) provision	(1.0		)	270.0			504.0			—			773.0
Equity in (losses) earnings of non-operating affiliates—net of taxes	—			(0.1		)	22.6			—			22.5
Net earnings	1,390.3			1,392.0			1,015.7			(2,361.2		)	1,436.8
Less: Net earnings attributable to noncontrolling interest	—			—			46.5			—			46.5
Net earnings attributable to common stockholders	$	1,390.3		$	1,392.0		$	969.2		$	(2,361.2	)	$	1,390.3

Condensed Consolidating Statement of Comprehensive Income



	Year ended December 31, 2014
	Parent			CF Industries			Other Subsidiaries			Eliminations			Consolidated
	(in millions)
Net earnings	$	1,390.3		$	1,392.0		$	1,015.7		$	(2,361.2	)	$	1,436.8
Other comprehensive income (losses)	(117.2		)	(117.2		)	(117.2		)	234.4			(117.2		)
Comprehensive income	1,273.1			1,274.8			898.5			(2,126.8		)	1,319.6
Less: Comprehensive income attributable to noncontrolling interest	—			—			46.5			—			46.5
Comprehensive income attributable to common stockholders	$	1,273.1		$	1,274.8		$	852.0		$	(2,126.8	)	$	1,273.1

Condensed Consolidating Statement of Operations



	Year ended December 31, 2013
	Parent			CF Industries			Other Subsidiaries			Eliminations			Consolidated
	(in millions)
Net sales	$	—		$	1,105.8		$	5,767.5		$	(1,398.6	)	$	5,474.7
Cost of sales	—			886.0			3,463.0			(1,394.5		)	2,954.5
Gross margin	—			219.8			2,304.5			(4.1		)	2,520.2
Selling, general and administrative expenses	2.7			11.8			151.5			—			166.0
Other operating—net	—			7.6			(23.4		)	—			(15.8		)
Total other operating costs and expenses	2.7			19.4			128.1			—			150.2
Equity in earnings of operating affiliates	—			—			41.7			—			41.7
Operating (losses) earnings	(2.7		)	200.4			2,218.1			(4.1		)	2,411.7
Interest expense	—			155.1			(1.8		)	(1.1		)	152.2
Interest income	—			(0.9		)	(4.9		)	1.1			(4.7		)
Net earnings of wholly-owned subsidiaries	(1,466.4		)	(1,423.0		)	—			2,889.4			—
Other non-operating—net	—			(0.4		)	54.9			—			54.5
Earnings before income taxes and equity in (losses) earnings of non-operating affiliates	1,463.7			1,469.6			2,169.9			(2,893.5		)	2,209.7
Income tax (benefit) provision	(0.9		)	3.0			684.4			—			686.5
Equity in (losses) earnings of non-operating affiliates—net of taxes	—			(0.2		)	9.8			—			9.6
Net earnings	1,464.6			1,466.4			1,495.3			(2,893.5		)	1,532.8
Less: Net earnings attributable to noncontrolling interest	—			—			72.3			(4.1		)	68.2
Net earnings attributable to common stockholders	$	1,464.6		$	1,466.4		$	1,423.0		$	(2,889.4	)	$	1,464.6

Condensed Consolidating Statement of Comprehensive Income



	Year ended December 31, 2013
	Parent		CF Industries		Other Subsidiaries			Eliminations			Consolidated
	(in millions)
Net earnings	$	1,464.6	$	1,466.4	$	1,495.3		$	(2,893.5	)	$	1,532.8
Other comprehensive income (losses)	7.0		7.0		(40.1		)	32.4			6.3
Comprehensive income	1,471.6		1,473.4		1,455.2			(2,861.1		)	1,539.1
Less: Comprehensive income attributable to noncontrolling interest	—		—		72.3			(4.8		)	67.5
Comprehensive income attributable to common stockholders	$	1,471.6	$	1,473.4	$	1,382.9		$	(2,856.3	)	$	1,471.6

Condensed Consolidating Balance Sheet



	December 31, 2015
	Parent			CF Industries			Other Subsidiaries			Eliminations and Reclassifications			Consolidated
	(in millions)
Assets
Current assets:
Cash and cash equivalents	$	1.3		$	0.2		$	284.5		$	—		$	286.0
Restricted cash	—			—			22.8			—			22.8
Accounts and notes receivable—net	0.9			2,987.3			1,565.0			(4,286.0		)	267.2
Inventories	—			—			321.2			—			321.2
Prepaid income taxes	—			—			184.6			—			184.6
Other current assets	—			23.7			21.6			—			45.3
Total current assets	2.2			3,011.2			2,399.7			(4,286.0		)	1,127.1
Property, plant and equipment—net	—			—			8,539.0			—			8,539.0
Investments in and advances to affiliates	4,302.9			8,148.4			297.8			(12,451.3		)	297.8
Due from affiliates	570.7			—			2.2			(572.9		)	—
Goodwill	—			—			2,390.1			—			2,390.1
Other assets	—			74.5			310.4			—			384.9
Total assets	$	4,875.8		$	11,234.1		$	13,939.2		$	(17,310.2	)	$	12,738.9
Liabilities and Equity
Current liabilities:
Accounts and notes payable and accrued expenses	$	840.7		$	648.1		$	3,714.9		$	(4,286.0	)	$	917.7
Income taxes payable	—			—			5.5			—			5.5
Customer advances	—			—			161.5			—			161.5
Other current liabilities	—			—			130.5			—			130.5
Total current liabilities	840.7			648.1			4,012.4			(4,286.0		)	1,215.2
Long-term debt	—			5,592.7			—			—			5,592.7
Deferred income taxes	—			51.8			864.4			—			916.2
Due to affiliates	—			572.9			—			(572.9		)	—
Other liabilities	—			65.8			561.8			—			627.6
Equity:
Stockholders' equity:
Preferred stock	—			—			16.4			(16.4		)	—
Common stock	2.4			—			1.1			(1.1		)	2.4
Paid-in capital	1,377.5			(12.6		)	8,364.9			(8,352.4		)	1,377.4
Retained earnings	3,057.7			4,565.2			15.9			(4,580.9		)	3,057.9
Treasury stock	(152.7		)	—			—			—			(152.7		)
Accumulated other comprehensive income (loss)	(249.8		)	(249.8		)	(249.7		)	499.5			(249.8		)
Total stockholders' equity	4,035.1			4,302.8			8,148.6			(12,451.3		)	4,035.2
Noncontrolling interest	—			—			352.0			—			352.0
Total equity	4,035.1			4,302.8			8,500.6			(12,451.3		)	4,387.2
Total liabilities and equity	$	4,875.8		$	11,234.1		$	13,939.2		$	(17,310.2	)	$	12,738.9

Condensed Consolidating Balance Sheet



	December 31, 2014
	Parent			CF Industries			Other Subsidiaries			Eliminations and Reclassifications			Consolidated
	(in millions)
Assets
Current assets:
Cash and cash equivalents	$	—		$	105.7		$	1,890.9		$	—		$	1,996.6
Restricted cash	—			—			86.1			—			86.1
Accounts and notes receivable—net	—			2,286.5			651.9			(2,746.9		)	191.5
Inventories	—			—			202.9			—			202.9
Prepaid income taxes	1.9			—			34.8			(1.9		)	34.8
Other current assets	—			—			18.6			—			18.6
Total current assets	1.9			2,392.2			2,885.2			(2,748.8		)	2,530.5
Property, plant and equipment—net	—			—			5,525.8			—			5,525.8
Investments in and advances to affiliates	6,212.5			9,208.7			861.5			(15,421.2		)	861.5
Due from affiliates	570.7			—			1.7			(572.4		)	—
Goodwill	—			—			2,092.8			—			2,092.8
Other assets	—			65.1			178.5			—			243.6
Total assets	$	6,785.1		$	11,666.0		$	11,545.5		$	(18,742.4	)	$	11,254.2
Liabilities and Equity
Current liabilities:
Accounts and notes payable and accrued expenses	$	2,575.4		$	207.7		$	553.8		$	(2,747.0	)	$	589.9
Income taxes payable	—			10.8			7.1			(1.9		)	16.0
Customer advances	—			—			325.4			—			325.4
Other current liabilities	—			—			48.4			—			48.4
Total current liabilities	2,575.4			218.5			934.7			(2,748.9		)	979.7
Long-term debt	—			4,592.5			—			—			4,592.5
Deferred income taxes	—			34.8			699.8			—			734.6
Due to affiliates	—			572.4			—			(572.4		)	—
Other liabilities	—			35.3			339.6			—			374.9
Equity:
Stockholders' equity:
Preferred stock	—			—			16.4			(16.4		)	—
Common stock⁽¹⁾	2.5			—			1.1			(1.1		)	2.5
Paid-in capital⁽¹⁾	1,413.9			(12.6		)	8,283.5			(8,270.9		)	1,413.9
Retained earnings	3,175.3			6,384.9			1,067.8			(7,452.7		)	3,175.3
Treasury stock⁽¹⁾	(222.2		)	—			—			—			(222.2		)
Accumulated other comprehensive income (loss)	(159.8		)	(159.8		)	(160.2		)	320.0			(159.8		)
Total stockholders' equity	4,209.7			6,212.5			9,208.6			(15,421.1		)	4,209.7
Noncontrolling interest	—			—			362.8			—			362.8
Total equity	4,209.7			6,212.5			9,571.4			(15,421.1		)	4,572.5
Total liabilities and equity	$	6,785.1		$	11,666.0		$	11,545.5		$	(18,742.4	)	$	11,254.2

_______________________________________________________________________________

(1)December 31, 2014 amounts have been retroactively restated to reflect the five-for-one split of the Company’s common stock effected in the form of a stock dividend that was distributed on June 17, 2015.

Condensed Consolidating Statement of Cash Flows



	Year ended December 31, 2015
	Parent			CF Industries			Other Subsidiaries			Eliminations			Consolidated
	(in millions)
Operating Activities:
Net earnings	$	699.9		$	731.1		$	835.8		$	(1,532.7	)	$	734.1
Adjustments to reconcile net earnings to net cash (used in) provided by operating activities:
Depreciation and amortization	—			13.7			465.9			—			479.6
Deferred income taxes	—			17.2			60.7			—			77.9
Stock-based compensation expense	16.5			—			0.3			—			16.8
Excess tax benefit from stock-based compensation	(1.5		)	—			—			—			(1.5		)
Unrealized loss on derivatives	—			—			162.8			—			162.8
Gain on remeasurement of CF Fertilisers UK investment	—			—			(94.4		)	—			(94.4		)
Impairment of equity method investment in PLNL	—			—			61.9			—			61.9
Loss on sale of equity method investments	—			—			42.8			—			42.8
Loss on disposal of property, plant and equipment	—			—			21.4			—			21.4
Undistributed (earnings) loss of affiliates—net	(731.2		)	(801.4		)	(3.4		)	1,532.7			(3.3		)
Due to/from affiliates—net	1.6			0.5			(2.1		)	—			—
Changes in:
Accounts and notes receivable—net	(0.9		)	0.2			97.3			(101.4		)	(4.8		)
Inventories	—			—			(71.0		)	—			(71.0		)
Accrued and prepaid income taxes	1.9			(10.8		)	(138.9		)	—			(147.8		)
Accounts and notes payable and accrued expenses	7.7			(42.6		)	(24.8		)	101.4			41.7
Customer advances	—			—			(163.9		)	—			(163.9		)
Other—net	—			30.7			20.7			—			51.4
Net cash (used in) provided by operating activities	(6.0		)	(61.4		)	1,271.1			—			1,203.7
Investing Activities:
Additions to property, plant and equipment	—			—			(2,469.3		)	—			(2,469.3		)
Proceeds from sale of property, plant and equipment	—			—			12.4			—			12.4
Proceeds from sale of equity method investment	—			—			12.8			—			12.8
Purchase of CF Fertilisers UK, net of cash acquired	—			—			(551.6		)	—			(551.6		)
Withdrawals from restricted cash funds	—			—			63.3			—			63.3
Other—net	—			(81.5		)	(43.5		)	81.5			(43.5		)
Net cash (used in) provided by investing activities	—			(81.5		)	(2,975.9		)	81.5			(2,975.9		)
Financing Activities:
Proceeds from long-term borrowings	—			1,000.0			—			—			1,000.0
Short-term debt—net	553.6			(916.2		)	362.6			—			—
Financing fees	—			(46.4		)	—			—			(46.4		)
Purchases of treasury stock	(556.3		)	—			—			—			(556.3		)
Dividends paid on common stock	(282.3		)	(282.4		)	(282.4		)	564.8			(282.3		)
Distributions to noncontrolling interest	—			—			(45.0		)	—			(45.0		)
Issuances of common stock under employee stock plans	8.4			—			—			—			8.4
Excess tax benefit from stock-based compensation	1.5			—			—			—			1.5
Dividends to/from affiliates	282.4			282.4			—			(564.8		)	—
Other—net	—			—			81.5			(81.5		)	—
Net cash provided by (used in) financing activities	7.3			37.4			116.7			(81.5		)	79.9
Effect of exchange rate changes on cash and cash equivalents	—			—			(18.3		)	—			(18.3		)
Increase (decrease) in cash and cash equivalents	1.3			(105.5		)	(1,606.4		)	—			(1,710.6		)
Cash and cash equivalents at beginning of period	—			105.7			1,890.9			—			1,996.6
Cash and cash equivalents at end of period	$	1.3		$	0.2		$	284.5		$	—		$	286.0

Condensed Consolidating Statement of Cash Flows



	Year ended December 31, 2014
	Parent			CF Industries			Other Subsidiaries			Eliminations			Consolidated
	(in millions)
Operating Activities:
Net earnings	$	1,390.3		$	1,392.0		$	1,015.7		$	(2,361.2	)	$	1,436.8
Adjustments to reconcile net earnings to net cash provided by (used in) operating activities:
Depreciation and amortization	—			6.8			385.7			—			392.5
Deferred income taxes	—			136.0			(117.5		)	—			18.5
Stock-based compensation expense	16.6			—			—			—			16.6
Excess tax benefit from stock-based compensation	(8.7		)	—			—			—			(8.7		)
Unrealized loss on derivatives	—			—			119.2			—			119.2
Gain on sale of phosphate business	—			(764.5		)	14.4			—			(750.1		)
Loss on disposal of property, plant and equipment	—			—			3.7			—			3.7
Undistributed loss (earnings) of affiliates—net	(1,391.9		)	(969.2		)	(11.6		)	2,361.2			(11.5		)
Due to/from affiliates—net	8.8			1.7			(10.5		)	—			—
Changes in:
Accounts and notes receivable—net	—			(285.3		)	658.2			(336.8		)	36.1
Inventories	—			4.3			59.5			—			63.8
Accrued and prepaid income taxes	(1.0		)	(18.3		)	(37.5		)	—			(56.8		)
Accounts and notes payable and accrued expenses	(3.3		)	376.8			(763.5		)	336.8			(53.2		)
Customer advances	—			—			204.8			—			204.8
Other—net	—			5.4			(8.5		)	—			(3.1		)
Net cash provided by (used in) operating activities	10.8			(114.3		)	1,512.1			—			1,408.6
Investing Activities:
Additions to property, plant and equipment	—			(18.3		)	(1,790.2		)	—			(1,808.5		)
Proceeds from sale of property, plant and equipment	—			—			11.0			—			11.0
Proceeds from sale of phosphate business	—			911.5			460.5			—			1,372.0
Sales and maturities of short-term and auction rate securities	—			5.0			—			—			5.0
Deposits to restricted cash funds	—			—			(505.0		)	—			(505.0		)
Withdrawals from restricted cash funds	—			—			573.0			—			573.0
Other—net	—			—			9.0			—			9.0
Net cash provided by (used in) investing activities	—			898.2			(1,241.7		)	—			(343.5		)
Financing Activities:
Proceeds from long-term borrowings	—			1,494.2			—			—			1,494.2
Short-term debt—net	1,897.7			(2,176.0		)	278.3			—			—
Financing fees	—			(16.0		)	—			—			(16.0		)
Purchases of treasury stock	(1,934.9		)	—			—			—			(1,934.9		)
Dividends paid on common stock	(255.7		)	(255.7		)	(255.9		)	511.6			(255.7		)
Distributions to noncontrolling interest	—			—			(46.0		)	—			(46.0		)
Issuances of common stock under employee stock plans	17.6			—			—			—			17.6
Excess tax benefit from stock-based compensation	8.7			—			—			—			8.7
Dividends to/from affiliates	255.7			255.9			—			(511.6		)	—
Other—net	—			(1.0		)	(42.0		)	—			(43.0		)
Net cash used in financing activities	(10.9		)	(698.6		)	(65.6		)	—			(775.1		)
Effect of exchange rate changes on cash and cash equivalents	—			—			(4.2		)	—			(4.2		)
(Decrease) increase in cash and cash equivalents	(0.1		)	85.3			200.6			—			285.8
Cash and cash equivalents at beginning of period	0.1			20.4			1,690.3			—			1,710.8
Cash and cash equivalents at end of period	$	—		$	105.7		$	1,890.9		$	—		$	1,996.6

Condensed Consolidating Statement of Cash Flows



	Year ended December 31, 2013
	Parent			CF Industries			Other Subsidiaries			Eliminations			Consolidated
	(in millions)
Operating Activities:
Net earnings	$	1,464.6		$	1,466.4		$	1,495.3		$	(2,893.5	)	$	1,532.8
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation, depletion and amortization	—			47.8			362.8			—			410.6
Deferred income taxes	—			(21.3		)	(13.0		)	—			(34.3		)
Stock-based compensation expense	12.6			—			—			—			12.6
Excess tax benefit from stock-based compensation	(13.5		)	—			—			—			(13.5		)
Unrealized gain on derivatives	—			—			(59.3		)	—			(59.3		)
Loss on disposal of property, plant and equipment	—			—			5.6			—			5.6
Undistributed loss (earnings) of affiliates—net	(1,466.4		)	(1,427.0		)	(11.4		)	2,893.5			(11.3		)
Due to / from affiliates—net	13.5			—			(13.5		)	—			—
Changes in:
Accounts and notes receivable—net	—			(220.8		)	(293.4		)	514.6			0.4
Inventories	—			(11.8		)	(68.5		)	—			(80.3		)
Accrued and prepaid income taxes	(0.9		)	23.6			(176.1		)	—			(153.4		)
Accounts and notes payable and accrued expenses	(2.8		)	305.4			261.5			(514.6		)	49.5
Customer advances	—			—			(260.1		)	—			(260.1		)
Other—net	—			3.9			63.6			—			67.5
Net cash provided by operating activities	7.1			166.2			1,293.5			—			1,466.8
Investing Activities:
Additions to property, plant and equipment	—			(58.9		)	(764.9		)	—			(823.8		)
Proceeds from sale of property, plant and equipment	—			—			12.6			—			12.6
Sales and maturities of short-term and auction rate securities	—			13.5			—			—			13.5
Canadian terminal acquisition	—			—			(72.5		)	—			(72.5		)
Deposits to restricted cash funds	—			—			(154.0		)	—			(154.0		)
Deposits to asset retirement obligation funds	—			(2.9		)	—			—			(2.9		)
Other—net	—			—			7.8			—			7.8
Net cash used in investing activities	—			(48.3		)	(971.0		)	—			(1,019.3		)
Financing Activities:
Proceeds from long-term borrowings	—			1,498.0			—			—			1,498.0
Financing fees	—			(14.5		)	—			—			(14.5		)
Dividends paid on common stock	(129.1		)	(859.0		)	(129.0		)	988.0			(129.1		)
Dividends to/from affiliates	859.0			129.0			—			(988.0		)	—
Distributions to/from noncontrolling interest	—			14.3			(88.0		)	—			(73.7		)
Purchases of treasury stock	(1,409.1		)	—			—			—			(1,409.1		)
Acquisitions of noncontrolling interests in CFL	—			(364.9		)	(553.8		)	—			(918.7		)
Issuances of common stock under employee stock plans	10.3			—			—			—			10.3
Excess tax benefit from stock-based compensation	13.5			—			—			—			13.5
Other—net	648.4			(941.2		)	335.8			—			43.0
Net cash used in financing activities	(7.0		)	(538.3		)	(435.0		)	—			(980.3		)
Effect of exchange rate changes on cash and cash equivalents	—			—			(31.3		)	—			(31.3		)
Increase (decrease) in cash and cash equivalents	0.1			(420.4		)	(143.8		)	—			(564.1		)
Cash and cash equivalents at beginning of period	—			440.8			1,834.1			—			2,274.9
Cash and cash equivalents at end of period	$	0.1		$	20.4		$	1,690.3		$	—		$	1,710.8