XML 32 R22.htm IDEA: XBRL DOCUMENT v3.23.2
Stockholders' Equity
 6 Months Ended
Jun. 30, 2023
Equity [Abstract]  
Stockholders' Equity 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.
The following table summarizes the share repurchases under the 2022 Share Repurchase Program and the 2021 Share Repurchase Program.
2022 Share Repurchase Program2021 Share Repurchase Program
Shares
Amounts(1)
Shares
Amounts(1)
(in millions)
Shares repurchased in 2022:
First quarter— $— 1.3 $100 
Second quarter— — 5.3 490 
Third quarter— — 6.1 532 
Fourth quarter— — 2.2 223 
Total shares repurchased in 2022— — 14.9 1,345 
Shares repurchased as of December 31, 2022— $— 14.9 $1,345 
Shares repurchased in 2023:
First quarter— $— 1.1 $75 
Second quarter0.8 50 1.2 80 
Total shares repurchased in 20230.8 50 2.3 155 
Shares repurchased as of June 30, 2023
0.8 $50 17.2 $1,500 
______________________________________________________________________________
(1)As defined in the share repurchase programs, amounts reflect the price paid for the shares of common stock repurchased, excluding commissions paid to brokers and excise taxes.
In the six months ended June 30, 2023, we completed the 2021 Share Repurchase Program with the repurchase of approximately 2.3 million shares for $155 million, and we repurchased approximately 0.8 million shares under the 2022 Share Repurchase Program for $50 million.
In the six months ended June 30, 2022, we repurchased approximately 6.6 million shares under the 2021 Share Repurchase Program for $590 million, of which $14 million was accrued and unpaid as of June 30, 2022.
Accumulated Other Comprehensive Loss
Changes to accumulated other comprehensive loss and the impact on other comprehensive income (loss) are as follows:
 Foreign
Currency
Translation
Adjustment		Unrealized
Gain on
Derivatives		Defined
Benefit
Plans		Accumulated
Other
Comprehensive
Income (Loss)
 (in millions)
Balance as of December 31, 2022$(179)$3 $(54)$(230)
Gain arising during the period— — 5 5 
Effect of exchange rate changes and deferred taxes30 — (4)26 
Balance as of June 30, 2023$(149)$3 $(53)$(199)
Balance as of December 31, 2021$(141)$4 $(120)$(257)
Gain arising during the period— — 3 3 
Reclassification to earnings— — 2 2 
Effect of exchange rate changes and deferred taxes(40)— 7 (33)
Balance as of June 30, 2022$(181)$4 $(108)$(285)