1 unchanged sentence
Purchases of Equity Securities by the Issuer and Affiliated Purchasers
−Removed: Share repurchase activity during the three months ended June 26, 2021 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 25, 2021 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 28, 2021 to May 1, 2021:
+Added: September 26, 2021 to October 30, 2021:
Open market and privately negotiated purchases
41,416 $ 144.87 41,416
−Removed: May 2, 2021 to May 29, 2021:
−Removed: May 2021 ASR 31,521 (2)
+Added: October 31, 2021 to November 27, 2021:
+Added: November 2021 ASRs 30,405 (2)
Open market and privately negotiated purchases
27,770 $ 153.08 27,770
−Removed: May 30, 2021 to June 26, 2021:
+Added: November 28, 2021 to December 25, 2021:
Open market and privately negotiated purchases
1 unchanged sentence
Total 123,809 $ 40,489
−Removed: (1) As of June 26, 2021, the Company was authorized to purchase up to $315 billion of the Company’s common stock under the Program, announced on April 28, 2021, of which $234.1 billion had been utilized.
−Removed: The remaining $80.9 billion in the table represents the amount available to repurchase shares under the Program as of June 26, 2021.
+Added: (1) As of December 25, 2021, the Company was authorized to purchase up to $315 billion of the Company’s common stock under the Program, announced on April 28, 2021, of which $274.5 billion had been utilized.
+Added: The remaining $40.5 billion in the table represents the amount available to repurchase shares under the Program as of December 25, 2021.
The Program does not obligate the Company to acquire any specific number of shares.
Under the 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 May 2021, the Company entered into a new ASR.
−Removed: Under the terms of the agreement, a financial institution committed to deliver shares of the Company’s stock during the purchase period in exchange for an up-front payment of $5.0 billion.
−Removed: The total number of shares ultimately delivered under the ASR, and therefore the average repurchase price paid per share, is determined based on the volume-weighted average price of the Company’s common stock during the ASR’s purchase period, which will end in or before August 2021.
+Added: (2) In November 2021, the Company entered into new accelerated share repurchase agreements (“ASRs”).
+Added: Under the terms of the agreements, two financial institutions committed to deliver shares of the Company’s common stock during the purchase periods in exchange for up-front payments totaling $6.0 billion.
+Added: The total number of shares ultimately delivered under the ASRs, and therefore the average repurchase price paid per share, is determined based on the volume-weighted average price of the Company’s common stock during the ASRs’ purchase periods, which end in the second quarter of 2022.
Defaults Upon Senior Securities
−Removed: | Q3 2021 Form 10-Q | 31
Mine Safety Disclosures
1 unchanged sentence
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.