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Purchases of Equity Securities The following table summarizes our purchases of common stock in the three months ended December 31, 2024:
−Removed: Total Number of Shares Purchased(a)(b) Weighted-Average Price Paid per Share(c) Total Number of Shares Purchased Under Announced Programs(b) Approximate Dollar Value of Shares That May Yet be Purchased Under Announced Programs(b)
−Removed: October 1, 2023 through October 31, 2023 25,399 $ 32.32 — $1.4 billion
−Removed: November 1, 2023 through November 30, 2023 — $ — — $11.4 billion
+Added: Total Number of Shares Purchased(a)(b) Weighted-Average Price Paid per Share(b)(c) Total Number of Shares Purchased Under Announced Programs(b)(d) Approximate Dollar Value of Shares That May Yet be Purchased Under Announced Programs(b)(d)
+Added: October 1, 2024 through October 31, 2024
+Added: Final settlement of ASR(b) 19,078,910 19,078,910
+Added: Other shares purchased 8,946,822 $ 48.77 8,789,744 $4.6 billion
+Added: November 1, 2024 through November 30, 2024
+Added: Final settlement of ASR(b) 6,213,168 6,213,168
+Added: Other shares purchased 44,026,509 $ 55.88 44,026,379 $2.1 billion
December 1, 2024 through December 31, 2024 33,860,946 $ 52.51 33,860,946 $0.3 billion
Total 112,126,355 $ 53.83 111,969,147
−Removed: (a) Shares purchased include shares delivered by employees or directors to us for the payment of taxes resulting from issuance of common stock upon the vesting of Restricted Stock Units (RSUs) relating to compensation plans.
−Removed: In June 2020, our shareholders approved the 2020 Long-Term Incentive Plan (LTIP), which authorizes awards of stock options, stock appreciation rights, RSUs, Performance Stock Units (PSUs) or other stock-based awards to selected employees, consultants, advisors and non-employee Directors of the Company.
+Added: (a) Shares purchased include shares delivered by employees or directors to us for the payment of taxes resulting from issuance of common stock upon the vesting of Restricted Stock Units (RSUs) and Performance Stock Units (PSUs) relating to compensation plans.
+Added: In June 2020, our shareholders approved the 2020 Long-Term Incentive Plan (LTIP), which authorizes awards of stock options, stock appreciation rights, RSUs, PSUs or other stock-based awards to selected employees, consultants, advisors and non-employee Directors of the Company.
Refer to Note 22 to our consolidated financial statements for additional details on employee stock incentive plans.
−Removed: (b) In January 2017, we announced that our Board of Directors had authorized the purchase of up to $5.0 billion of our common stock with no expiration date.
−Removed: In August 2022, our Board of Directors increased the capacity to $5.0 billion from the $3.3 billion that remained as of June 30, 2022, with no expiration date.
−Removed: In November 2023, the Board of Directors increased the capacity under the share repurchase program by $10.0 billion to an aggregate of $11.4 billion and approved an accelerated share repurchase (ASR) program to repurchase an aggregate amount of $10.0 billion of our common stock.
−Removed: On December 1, 2023, pursuant to the agreements entered into in connection with the ASR (collectively, the ASR Agreements), we advanced the aggregate amount of $10.0 billion and received approximately 215 million shares of our common stock with a value of $6.8 billion, which were immediately retired.
−Removed: Final settlement of the transactions contemplated by the ASR Agreements is expected to occur no later than the three months ending December 31, 2024.
−Removed: Refer to Note 20 to our consolidated financial statements for additional details on the ASR program.
+Added: (b) During the three months ended December 31, 2023, we entered into the accelerated share repurchase (ASR) agreements (collectively, the ASR Agreements) to repurchase an aggregate $10.0 billion of common stock, and we received and immediately retired approximately 215 million shares of our common stock (68% of the $10.0 billion aggregate purchase price calculated on the basis of a price of $31.60 per share, the closing share price of our common stock on November 29, 2023).
+Added: In March 2024, upon the first settlement of the transactions contemplated under the ASR Agreements, we received approximately 4 million additional shares of our common stock, which were immediately retired.
+Added: There were no settlements under the ASR Agreements in the three months ended June 30, 2024 or September 30, 2024.
+Added: In the three months ended December 31, 2024, upon the final settlement of the transactions contemplated under the ASR Agreements, we received approximately 25 million additional shares, which were immediately retired.
+Added: The final number of shares received was based on the average of the daily volume-weighted average prices of our common stock during the term of the ASR Agreements, less a discount pursuant to the terms and conditions of the ASR Agreements.
(c) The weighted-average price paid per share excludes broker commissions.
+Added: (d) In November 2023, our Board of Directors increased the capacity under the share repurchase program by $10.0 billion to an aggregate of $11.4 billion and approved the $10.0 billion ASR program.
+Added: In June 2024, our Board of Directors approved a new share repurchase authorization to repurchase up to an additional $6.0 billion of our outstanding common stock.
+Added: At December 31, 2024, we had $0.3 billion in capacity remaining under the share repurchase program, with no expiration date.
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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.