1 unchanged sentence
Repurchase of Equity Securities
−Removed: 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: 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.
−Removed: 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: 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 (the “Exchange Act”).
+Added: During the three months ended March 31, 2021, the Company repurchased 2.4 million shares of its Common Stock for $152.8 million under the 2018 Stock Repurchase Program.
+Added: Of the total repurchases during the three months ended March 31, 2021, 0.3 million shares, or $19.8 million, have been retained in Treasury stock at time of repurchase;
the remaining 2.1 million shares, or $133.0 million, have been retired by the Company.
−Removed: 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.
−Removed: 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 September 30, 2020:
+Added: In April 2021, the Company repurchased 0.8 million additional shares of its Common Stock for $51.0 million, which completed the $2.0 billion 2018 Stock Repurchase Program.
+Added: The table below reflects the Company’s stock repurchases for the three months ended March 31, 2021, adjusted to give effect to the two-for-one stock split, which is discussed in Note 1 of the Notes to Condensed Consolidated Financial Statements:
Total Number of
8 unchanged sentences
Plans or Programs
−Removed: July 1 to July 31, 2020
−Removed: August 1 to August 31, 2020
−Removed: September 1 to September 30, 2020
+Added: January 1 to January 31, 2021
+Added: February 1 to February 28, 2021
+Added: March 1 to March 31, 2021
+Added: On April 27, 2021, the Company’s Board of Directors authorized a new 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 27, 2024 (the “2021 Stock Repurchase Program”) in accordance with the requirements of Rule 10b-18 of the Exchange Act.
+Added: As of April 27, 2021, the Company has not repurchased any shares of its Common Stock under the 2021 Stock Repurchase Program.
+Added: The price and timing of any future purchases under the 2021 Stock Repurchase Program will depend on a number of factors such as levels of cash generation from operations, the volume of stock option exercises by employees, cash requirements for acquisitions, dividends paid, economic and market conditions and the price of the Company’s common stock.
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.