Item 2. Unregistered Sales of Equity Securities
Item 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
Issuer Purchases of Equity Securities
On October 25, 2023, our board of directors approved a $5 billion increase to our share repurchase authorization. Any future share repurchases will be made at the discretion of management and will depend on various factors including our share price, results of operations, financial condition and cash required for future business plans.
Millions of Dollars
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
July 1-31, 2023 2,314,089 $ 103.90 2,314,089 $ 3,588
August 1-31, 2023 2,419,069 114.29 2,419,069 3,312
September 1-30, 2023 1,789,987 121.78 1,789,987 3,094
Total 6,523,145 $ 112.66 6,523,145
* Includes repurchase of shares of common stock from company employees in connection with the company’s broad-based employee incentive plans, when applicable.
** Average price paid per share includes excise tax.
*** Since July 2012, our board of directors has authorized an aggregate of $25 billion of repurchases of our outstanding common stock. Repurchases pursuant to the current authorizations do not have an expiration date. The share repurchases are expected to be funded primarily through available cash. We are not obligated to repurchase any shares of common stock pursuant to these authorizations and may commence, suspend or terminate repurchases at any time. Shares of stock repurchased are held as treasury shares.
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