Item 2. Unregistered Sales of Equity Securities
Item 2.
Unregistered Sales of Equity Securities and Use of Proceeds
Purchases of Equity Securities by the Issuer
Repurchases of common stock by the Company during the quarter ended March 31, 2025 are set forth below. During the period from April 1, 2025 to April 23, 2025, the Company repurchased 1.1 million common shares for $124.
Repurchases of Common Stock by the Issuer for the Three Months Ended March 31, 2025
Period Total Number
of Shares
Purchased [1] 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 [2]
(in millions)
January 1, 2025 - January 31, 2025 1,376,496 $ 111.69 1,370,781 $ 2,996
February 1, 2025 - February 28, 2025 1,681,035 $ 113.62 1,111,106 $ 2,871
March 1, 2025 - March 31, 2025 1,049,064 $ 120.40 1,032,782 $ 2,748
Total 4,106,595 $ 114.70 3,514,669
[1]Includes 591,926 shares in net settlement of employee tax withholding obligations related to equity awards under the Company's incentive stock plans, which were not part of publicly announced share repurchase authorizations. The Company paid an average price per share of $113.26 in employee tax withholding obligations related to net share settlements in the three months ended March 31, 2025.
[2]On July 25, 2024, the Board of Directors approved a share repurchase authorization for up to $3.3 billion effective from August 1, 2024 to December 31, 2026. The timing of any repurchases is dependent on several factors, including the market price of the Company's securities, the Company's capital position, consideration of the effect of any repurchases on the Company's financial strength or credit ratings, the Company's blackout periods, and other considerations.
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Part II - Item 5. Other Information
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