We consider an explicit iterate-to-fixedpoint operator and derive associated rules for both forward and reverse mode algorithmic differentiation. Like other AD transformation rules, these are exact and efficient. In this case, they generate code which itself invokes the iterate-to-fixedpoint operator. Loops which iterate until a variable changes less than some tolerance should be regarded as approximate iterate-to-fixedpoint calculations. After a convergence analysis, we contend that it is best both pragmatically and theoretically to find the approximate fixedpoint of the adjoint system of the actual desired fixedpoint calculation, rather than find the adjoint of the approximate primal fixedpoint calculation. Our exposition unifies and formalizes a number of techniques already known to the AD community, introduces a convenient and powerful notation, and opens the door to fully automatic efficient AD of a broadened class of codes.