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Issuer Purchases of Equity Securities
−Removed: Purchased (1)
+Added: Purchased Average
per Share Total Number of
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December 1 - December 31 — — — 2,218
−Removed: Total 21,830 206.12 21,830
−Removed: (1) Shares purchased represent shares under the Board authorized share repurchase program.
(1) Shares repurchased under our Key Employee Stock Investment Plan only occur in the event of a participant default, which cannot be predicted, and were excluded from this column.
In December 2021, the Board authorized the acquisition of up to $2.0 billion of additional common stock upon completion of the $2.0 billion repurchase plan authorized in 2019.
−Removed: During the three months ended December 31, 2022, we repurchased $4 million of common stock under the 2019 authorization.
+Added: During the three months ended December 31, 2023, we did not make any repurchases of common stock.
The dollar value remaining available for future purchases under the 2019 program at December 31, 2023, was $218 million.
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The following graph compares the cumulative total shareholder return on our common stock for the last five years with the cumulative total return on the S&P 500 Index and an index of peer companies selected by us.
−Removed: Our peer group includes BorgWarner Inc., Caterpillar, Inc., Daimler Truck Holding AG, Deere & Company, Donaldson Company Inc., Eaton Corporation, Emerson Electric Co., Fortive Corporation, W.W.
+Added: In 2023, we re-evaluated our peer group that the Board benchmarks against and chose to include companies that participate in similar end-markets and have similar businesses.
+Added: Dana Incorporated was added to provide exposure to similar products including e-axles, drivetrain components and transmissions and electric and hybrid products, while Donaldson Company Inc.
+Added: was removed due to the IPO of Atmus (formerly our filtration business) into a separate publicly traded company.
+Added: Our revised peer group includes BorgWarner Inc., Caterpillar, Inc., Daimler Truck Holding AG, Deere & Company, Dana Inc., Eaton Corporation, Emerson Electric Co., Fortive Corporation, W.W.
Grainger Inc., Honeywell International, Illinois Tool Works Inc., PACCAR, Parker-Hannifin Corporation, Textron Inc.
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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.