Treasury Stock

9 Months Ended

Sep. 30, 2012

Treasury Stock

Treasury Stock

19.   Treasury Stock

        In the second quarter of 2012, we repurchased 3.1 million shares of CF Holdings common stock for $500.0 million, thereby completing the $1.5 billion repurchase program that was authorized by our Board of Directors in the third quarter of 2011. In June 2012, all 9.6 million shares that were repurchased under this program were retired.

        In the third quarter of 2012, we announced that our Board of Directors authorized the repurchase of up to $3.0 billion of CF Holdings common stock through December 31, 2016. Repurchases under this program may be made from time to time in the open market, in privately negotiated transactions, or otherwise. The manner, timing, and amount of any repurchases will be determined by our management based on evaluation of market conditions, stock price, and other factors. There were no repurchases under this program in the third quarter of 2012.