Item 2. Unregistered Sales of Equity Securities
ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
Issuer Purchases of Equity Securities
We may repurchase shares of our common stock from time to time pursuant to our $5.0 billion common stock repurchase authorization, which was approved by our Board of Directors in April 2025. The authorization has no expiration date. During the three months ended December 31, 2025, we repurchased 4.4 million shares of our common stock at a total cost including commissions and excise taxes of $669.7 million. At December 31, 2025, there was $2.6 billion remaining on the repurchase authorization. The following table sets forth additional information concerning our common stock repurchases during the quarter.
Period
Total Number of Shares Purchased
Average Price Paid per Share
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
(In millions)
October 2025 1,764,930 $ 157.93 1,764,930 $ 3,005.3
November 2025 2,013,300 146.20 2,013,300 2,711.0
December 2025 632,079 152.96 632,079 2,614.3
Total 4,410,309 $ 151.86 4,410,309 $ 2,614.3
The share repurchases may be effected through Rule 10b5-1 plans or open market purchases, each in compliance with Rule 10b-18 under the Securities Exchange Act of 1934, as amended (Exchange Act). Shares repurchased in October and December 2025 included 1,389,930 shares and 257,079 shares, respectively, purchased pursuant to a trading plan under Rule 10b5-1 of the Exchange Act.
Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.