4 unchanged sentences
Generally, we have distributed and expect to continue to distribute all or substantially all of our REIT taxable income after taking into consideration our utilization of net operating losses ( “ NOLs ” ).
−Removed: The amount, timing and frequency of future distributions will be at the sole discretion of our Board of Directors and will depend upon various factors, a number of which may be beyond our control, including our financial condition and operating cash flows, the amount required to maintain our qualification for taxation as a REIT and reduce any income and excise taxes that we otherwise would be required to pay, limitations on distributions in our existing and future debt and preferred equity instruments, our ability to utilize NOLs to offset our distribution requirements, limitations on our ability to fund distributions using cash generated through our TRSs and other factors that our Board of Directors may deem relevant.
+Added: The amount, timing and frequency of future distributions will be at the sole discretion of our Board and will depend upon various factors, a number of which may be beyond our control, including our financial condition and operating cash flows, the amount required to maintain our qualification for taxation as a REIT and reduce any income and excise taxes that we otherwise would be required to pay, limitations on distributions in our existing and future debt and preferred equity instruments, our ability to utilize NOLs to offset our distribution requirements, limitations on our ability to fund distributions using cash generated through our TRSs and other factors that our Board may deem relevant.
Performance Graph
13 unchanged sentences
FTSE Nareit All Equity REITs Index 100.00 128.66 122.07 172.49 129.45 144.16
−Removed: Issuer Purchases of Equity Securities
−Removed: In March 2011, our Board of Directors approved a stock repurchase program, pursuant to which we are authorized to repurchase up to $1.5 billion of our common stock (the “2011 Buyback”).
−Removed: In December 2017, our Board of Directors approved an additional stock repurchase program, pursuant to which we are authorized to repurchase up to $2.0 billion of our common stock (the “2017 Buyback”, and together with the 2011 Buyback the “Buyback Programs”).
−Removed: During the three months ended December 31, 2022, we repurchased a total of 90,042 shares of our common stock for an aggregate of $18.8 million, including commissions and fees, pursuant to the 2011 Buyback.
−Removed: There were no repurchases under the 2017 Buyback.
−Removed: The table below sets forth details of our repurchases under the 2011 Buyback during the three months ended December 31, 2022.
−Removed: Period Total Number of Shares Purchased (1) Average Price Paid per Share (2) Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs Approximate Dollar Value of Shares that May Yet be Purchased Under the Plans or Programs (3)
−Removed: (in millions)
−Removed: October 1, 2022 - October 31, 2022 — $ — — $ 36.4
−Removed: November 1, 2022 - November 30, 2022 65,319 $ 206.33 65,319 $ 22.9
−Removed: December 1, 2022 - December 31, 2022 24,723 $ 212.97 24,723 $ 17.6
−Removed: Total Fourth Quarter 90,042 $ 208.15 90,042 $ 17.6
−Removed: _______________
−Removed: (1) Repurchases made pursuant to the 2011 Buyback.
−Removed: (2) Average price paid per share is a weighted average calculation using the aggregate price, excluding commissions and fees.
−Removed: (3) Remaining under the 2011 Buyback.
−Removed: We have repurchased a total of 14,451,325 shares of our common stock under the 2011 Buyback for an aggregate of $1.5 billion, including commissions and fees.
−Removed: We expect to continue to manage the pacing of the remaining $2.0 billion under the Buyback Programs in response to general market conditions and other relevant factors.
−Removed: We expect to fund any further repurchases of our common stock through a combination of cash on hand, cash generated by operations and borrowings under our credit facilities.
−Removed: Purchases under the Buyback Programs are subject to our having available cash to fund repurchases.
−Removed: Under the Buyback Programs, our management is authorized to purchase shares from time to time through open market purchases or in privately negotiated transactions not to exceed market prices and subject to market conditions and other factors.
−Removed: With respect to open market purchases, we may use plans adopted in accordance with Rule 10b5-1 under the Exchange Act in accordance with securities laws and other legal requirements, which allows us to repurchase shares during periods when we otherwise might be prevented from doing so under insider trading laws or because of self-imposed trading blackout periods.
−Removed: These programs may be discontinued at any time.
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.