2 unchanged sentences
In April 2018, the Company’s Board of Directors authorized a stock repurchase program under which the Company may purchase up to $2.0 billion of the Company’s Common Stock during the three-year period ending April 24, 2021 (the “2018 Stock Repurchase Program”) in accordance with the requirements of Rule 10b-18 of the Securities Exchange Act of 1934, as amended.
−Removed: The Company did not repurchase any of its Common Stock during the three months ended June 30, 2020.
−Removed: The Company has not repurchased any additional shares of its Common Stock from July 1, 2020 to July 21, 2020, and has remaining authorization to purchase up to $587.9 million of its Common Stock under the 2018 Stock Repurchase Program.
+Added: During the three months ended September 30, 2020, the Company repurchased 1.9 million shares of its Common Stock for $201.9 million under the 2018 Stock Repurchase Program.
+Added: Of the total repurchases during the three months ended September 30, 2020, 1.0 million shares, or $110.3 million, have been retained in Treasury stock at time of repurchase;
+Added: the remaining 0.9 million shares, or $91.6 million, have been retired by the Company.
+Added: From October 1, 2020 through October 20, 2020, the Company repurchased approximately 0.1 million additional shares of its Common Stock for $6.0 million, leaving $379.9 million available to purchase under the 2018 Stock Repurchase Program.
The price and timing of any future purchases under the 2018 Stock Repurchase Program will depend on a number of factors such as levels of cash generation from operations, the level of uncertainty relating to the COVID-19 pandemic, the volume of stock option exercises by employees, cash requirements for acquisitions, dividends, economic and market conditions and stock price.
−Removed: The table below reflects the Company’s stock repurchases for the three months ended June 30, 2020:
+Added: The table below reflects the Company’s stock repurchases for the three months ended September 30, 2020:
Total Number of
8 unchanged sentences
Plans or Programs
−Removed: April 1 to April 30, 2020
−Removed: May 1 to May 31, 2020
−Removed: June 1 to June 30, 2020
+Added: July 1 to July 31, 2020
+Added: August 1 to August 31, 2020
+Added: September 1 to September 30, 2020
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.