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Repurchase of Equity Securities
−Removed: On April 27, 2021, the Board authorized a stock repurchase program under which the Company may purchase up to $2.0 billion of 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 Securities Exchange Act of 1934, as amended (the “Exchange Act”).
+Added: On April 27, 2021, the Board 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 27, 2024 (the “2021 Stock Repurchase Program”).
During the three months and year ended December 31, 2023, the Company repurchased 1.3 million and 7.2 million shares of its Common Stock for $115.3 million and $585.1 million, respectively, under the 2021 Stock Repurchase Program.
−Removed: Of the total repurchases made in 2022 under the 2021 Stock Repurchase Program, 9.3 million shares, or $689.7 million, have been retired by the Company, with the remainder of the repurchased shares being retained in Treasury stock at the time of repurchase.
−Removed: From January 1, 2023 through January 31, 2023, the Company repurchased 0.6 million additional shares of its Common Stock for $48.8 million, and, as of February 1, 2023, the Company has remaining authorization to purchase up to $762.8 million of its Common Stock under the 2021 Stock Repurchase Program .
−Removed: The price and timing of any future purchases will depend on a number of factors, such as levels of cash generation from operations, the volume of stock options exercised by employees, cash requirements for acquisitions, dividends paid, economic and market conditions and the price of the Common Stock.
+Added: Of the total repurchases made in 2023, 5.5 million shares, or $435.8 million, have been retired by the Company, with the remainder of the repurchased shares being retained in Treasury stock at the time of repurchase.
+Added: From January 1, 2024 through January 31, 2024, the Company did not repurchase any additional shares of its Common Stock, and, as of February 1, 2024, the Company has remaining authorization to purchase up to $226.5 million of its Common Stock under the 2021 Stock Repurchase Program.
+Added: The timing and amount of any future purchases will depend on a number of factors, such as the levels of cash generation from operations, the volume of stock options exercised by employees, cash requirements for acquisitions, dividends paid, economic and market conditions and the price of the Common Stock.
The Company’s stock repurchases during the three months and year ended December 31, 2023 were as follows:
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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.