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SHAREHOLDERS' EQUITY
 12 Months Ended
Dec. 31, 2021
Stockholders' Equity Note [Abstract]  
SHAREHOLDERS' EQUITY
NOTE 18. SHAREHOLDERS’ EQUITY

On April 26, 2018, our board of directors authorized a share repurchase program for the purchase of shares of common stock at an aggregate price of up to $500.0 million.  This program will terminate upon the purchase of $500.0 million of our common stock. On November 1, 2021, our board of directors authorized an additional share repurchase program for the purchase of shares of common stock at an aggregate price of up to $1.0 billion. This program will terminate upon the purchase of $1.0 billion of our common stock.

For the year ended December 31, 2021, 4.7 million were repurchased and retired at a cost of $251.9 million. On August 5, 2019, we entered into an accelerated share repurchase (ASR) agreement with Goldman Sachs & Co. LLC, a third-party financial institution, to repurchase $100.0 million of Olin’s common stock. This authorization was granted under the April 26, 2018 share repurchase program and reduced the remaining authorized repurchase amount under that program by $100.0 million. In connection with this agreement, we repurchased a total of 5.7 million shares under this ASR agreement. For the year ended December 31, 2019, 8.0 million shares were repurchased and retired at a cost of $145.9 million.

As of December 31, 2021, a cumulative total of 14.7 million shares were repurchased and retired at a cost of $447.8 million and $52.2 million of common stock remained authorized to be repurchased under the 2018 Repurchase Authorization program. As of December 31, 2021, there have been no repurchases under the 2021 Repurchase Authorization program and $1.0 billion of common stock remained authorized to be repurchased under this plan.

During 2021, 2020 and 2019, we issued 3.4 million, 0.1 million and 0.1 million shares, respectively, with a total value of $72.4 million, $1.9 million and $1.7 million, respectively, representing stock options exercised.  

We have registered an undetermined amount of securities with the SEC, so that, from time-to-time, we may issue debt securities, preferred stock and/or common stock and associated warrants in the public market under that registration statement.
The following table represents the activity included in accumulated other comprehensive loss:
Foreign Currency Translation Adjustment (net of taxes)Unrealized Gains (Losses) on Derivative Contracts (net of taxes)Pension and Other Postretirement Benefits (net of taxes)Accumulated Other Comprehensive Loss
($ in millions)
Balance at January 1, 2019$0.7 $1.8 $(653.5)$(651.0)
Unrealized losses(9.1)(47.1)(183.9)(240.1)
Reclassification adjustments of losses into income— 26.9 29.1 56.0 
Tax benefit— 4.8 26.9 31.7 
Net change(9.1)(15.4)(127.9)(152.4)
Balance at December 31, 2019(8.4)(13.6)(781.4)(803.4)
Unrealized gains27.8 31.1 26.6 85.5 
Reclassification adjustments of losses into income— 14.9 46.3 61.2 
Tax provision— (11.0)(22.2)(33.2)
Net change27.8 35.0 50.7 113.5 
Balance at December 31, 202019.4 21.4 (730.7)(689.9)
Unrealized (losses) gains(30.3)182.0 249.7 401.4 
Reclassification adjustments of (gains) losses into income— (180.1)54.3 (125.8)
Tax provision— (0.5)(73.2)(73.7)
Net change(30.3)1.4 230.8 201.9 
Balance at December 31, 2021$(10.9)$22.8 $(499.9)$(488.0)

Net income (loss), interest expense and cost of goods sold included reclassification adjustments for realized gains and losses on derivative contracts from accumulated other comprehensive loss.

Net income (loss) and non-operating pension income included the amortization of prior service costs and actuarial losses from accumulated other comprehensive loss.