LABCORP HOLDINGS INC. 10-Q

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds (dollars and shares in millions, except per share data) During the three months ended September 30, 2023, the Company did not repurchase any of its common stock, other than as contemplated by the ASR Agreements. The following table sets forth information with respect to purchases of shares of the Company’s common stock based on activity under the ASR Agreements during the three months ended September 30, 2023, by or on behalf of the Company: 35 INDEX Total Number of Shares Repurchased Average Price Paid Per Share Total Number of Shares Repurchased as Part of Publicly Announced Program Maximum Dollar Value of Shares that May Yet Be Repurchased Under the Program July 1 - July 31 — $ — — $ 1,531.5 August 1 - August 31 3.7 (1) 267.34 3.7 531.5 September 1 - September 30 — — — 531.5 3.7 $ 267.34 3.7 $ 531.5 (1) At inception of the ASR Agreements, the Company paid $1,000.0 and received 3.7 shares, which reflects 80% of the shares that would ultimately be repurchased under the ASR Agreements if the price of the Common Stock established in the ASR Agreement at the inception of the ASR agreements remains constant. The board of directors has authorized the repurchase of specified amounts of the Company's stock since 2007. On August 8, 2023, the Company entered into ASR Agreements with the Financial Institutions to repurchase approximately $1,000.0 in the aggregate of the Company’s common stock, as part of the Company’s previously announced common stock repurchase program. The ASR Agreements are more fully discussed in the Notes to the Unaudited Condensed Consolidated Financial Statements. As of September 30, 2023, the Company had outstanding authorization from the board of directors to purchase up to $531.5 of the Company's common stock. The repurchase authorization has no expiration date.