1 unchanged sentence
Purchases of Equity Securities by the Issuer and Affiliated Purchasers
−Removed: Share repurchase activity during the three months ended June 27, 2020 was as follows (in millions, except number of shares, which are reflected in thousands, and per share amounts):
+Added: Share repurchase activity during the three months ended December 26, 2020 was as follows (in millions, except number of shares, which are reflected in thousands, and per share amounts):
Periods Total Number
5 unchanged sentences
Under the Plans or Programs (1)
−Removed: March 29, 2020 to May 2, 2020:
+Added: September 27, 2020 to October 31, 2020:
Open market and privately negotiated purchases
−Removed: May 3, 2020 to May 30, 2020:
−Removed: November 2019 ASR 4,828 (2)
−Removed: May 2020 ASR 15,155 (3)
+Added: 25,810 $ 116.23 25,810
+Added: November 1, 2020 to November 28, 2020:
Open market and privately negotiated purchases
87,247 $ 117.48 87,247
−Removed: May 31, 2020 to June 27, 2020:
+Added: November 29, 2020 to December 26, 2020:
Open market and privately negotiated purchases
1 unchanged sentence
Total 199,689 $ 32,353
−Removed: (1) As of June 27, 2020, the Company was authorized to purchase up to $225 billion of the Company’s common stock under a share repurchase program announced on April 30, 2020, of which $150.6 billion had been utilized.
−Removed: The remaining $74.4 billion in the table represents the amount available to repurchase shares under the authorized repurchase program as of June 27, 2020.
+Added: (1) As of December 26, 2020, the Company was authorized to purchase up to $225 billion of the Company’s common stock under a share repurchase program announced on April 30, 2020, of which $192.6 billion had been utilized.
+Added: The remaining $32.4 billion in the table represents the amount available to repurchase shares under the authorized repurchase program as of December 26, 2020.
The Company’s share repurchase program does not obligate it to acquire any specific number of shares.
Under this program, shares may be repurchased in privately negotiated and/or open market transactions, including under plans complying with Rule 10b5-1 under the Exchange Act.
−Removed: (2) In November 2019, the Company entered into an ASR to purchase up to $10.0 billion of the Company’s common stock.
−Removed: In May 2020, the purchase period for this ASR ended and an additional 4.8 million shares were delivered and retired.
−Removed: In total, 35.2 million shares were delivered under this ASR at an average repurchase price of $283.89.
−Removed: (3) In May 2020, the Company entered into a new ASR to purchase up to $6.0 billion of the Company’s common stock.
−Removed: In exchange for up-front payments totaling $6.0 billion, the financial institutions that are party to the arrangement committed to deliver shares to the Company during the ASR’s purchase period, which will end in or before August 2020.
−Removed: The total number of shares ultimately delivered, and therefore the average price paid per share, will be determined at the end of the applicable purchase period based on the volume-weighted average price of the Company’s common stock during that period.
Defaults Upon Senior Securities
2 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.