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Stockholders' Equity
9 Months Ended
Sep. 30, 2021
Equity [Abstract]  
Stockholders' Equity Stockholders’ Equity
Treasury Stock
On February 13, 2019, the Board authorized the repurchase of up to $1 billion of CF Holdings common stock through December 31, 2021 (the 2019 Share Repurchase Program). Repurchases under the 2019 Share Repurchase Program may be made from time to time in the open market, through privately negotiated transactions, block transactions or otherwise. The manner, timing and amount of repurchases will be determined by our management based on the evaluation of market conditions, stock price, and other factors. See Note 18—Subsequent Event for additional information.
Since the 2019 Share Repurchase Program was announced in February 2019, we have repurchased approximately 11.3 million shares for $487 million, consisting of:
1.1 million shares repurchased during the third quarter of 2021 for $50 million,
2.6 million shares repurchased during the first quarter of 2020 for $100 million, and
7.6 million shares repurchased during 2019 for $337 million.
At September 30, 2021, we held 1,100,921 shares of treasury stock.
Accumulated Other Comprehensive Loss
Changes to accumulated other comprehensive loss and the impact on other comprehensive income (loss) are as follows:
 Foreign
Currency
Translation
Adjustment
Unrealized
Gain on
Derivatives
Defined
Benefit
Plans
Accumulated
Other
Comprehensive
Income (Loss)
 (in millions)
Balance as of December 31, 2019$(188)$$(183)$(366)
Gain arising during the period— — 
Reclassification to earnings(1)
— — 
Effect of exchange rate changes and deferred taxes(30)— (28)
Balance as of September 30, 2020$(218)$$(175)$(388)
Balance as of December 31, 2020$(144)$$(180)$(320)
Loss arising during the period— — (4)(4)
Reclassification to earnings(1)
— — 
Effect of exchange rate changes and deferred taxes(2)— (1)
Balance as of September 30, 2021$(146)$$(174)$(316)
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(1)Reclassifications out of accumulated other comprehensive loss to earnings during the three and nine months ended September 30, 2021 and 2020 were not material.