XML 31 R21.htm IDEA: XBRL DOCUMENT v3.23.1
Stockholders' Equity
3 Months Ended
Mar. 31, 2023
Equity [Abstract]  
Stockholders' Equity
Common Stock
On November 3, 2021, our Board of Directors (the Board) authorized the repurchase of up to $1.5 billion of CF Holdings common stock through December 31, 2024 (the 2021 Share Repurchase Program). On November 2, 2022, the Board authorized the repurchase of up to $3 billion of CF Holdings common stock commencing upon completion of the 2021 Share Repurchase Program and effective through December 31, 2025 (the 2022 Share Repurchase Program). Repurchases under these programs may be made from time to time in the open market, through privately negotiated transactions, through 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.
In the three months ended March 31, 2023, we repurchased approximately 1.1 million shares under the 2021 Share Repurchase Program for $75 million, of which $21 million was accrued and unpaid as of March 31, 2023. As of March 31, 2023, there was approximately $80 million of authorization remaining under the 2021 Share Repurchase Program.
In the three months ended March 31, 2022, we repurchased approximately 1.3 million shares under the 2021 Share Repurchase Program for $100 million and we retired 27,962 shares of repurchased stock, including shares repurchased under the share repurchase program that expired on December 31, 2021.
Accumulated Other Comprehensive Loss
Changes to accumulated other comprehensive loss and the impact on other comprehensive income (loss) are as follows:
 Foreign
Currency
Translation
Adjustment
Unrealized
Gain on
Derivatives
Defined
Benefit
Plans
Accumulated
Other
Comprehensive
Income (Loss)
 (in millions)
Balance as of December 31, 2021$(141)$$(120)$(257)
Reclassification to earnings— — 
Effect of exchange rate changes and deferred taxes(13)— (10)
Balance as of March 31, 2022$(154)$$(116)$(266)
Balance as of December 31, 2022$(179)$$(54)$(230)
Effect of exchange rate changes and deferred taxes— (1)
Balance as of March 31, 2023$(172)$$(55)$(224)