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REPURCHASES OF EQUITY SECURITIES
−Removed: In June 2022, our Board of Directors authorized a stock repurchase program that provides for the repurchase of up to $15 billion of our common stock, with no expiration from the date of authorization.
−Removed: In February 2025, our Board of Directors authorized an additional stock repurchase program that provides for the repurchase of up to $15 billion of our common stock, with no expiration from the date of authorization.
−Removed: Our stock repurchase programs are intended to offset the impact of dilution from our equity compensation programs and, subject to market conditions and other factors, may also be used to make opportunistic repurchases of our common stock to reduce outstanding share count.
−Removed: Any share repurchases under our stock repurchase programs may be made through open market transactions, block trades, privately negotiated transactions, including accelerated share repurchase agreements or other means at times and in such amounts as management deems appropriate, and will be funded from our working capital or other financing alternatives.
+Added: In February 2025, our Board of Directors authorized a stock repurchase program that provides for the repurchase of up to $15.0 billion of our common stock, with no expiration from the date of authorization.
+Added: This program became effective in the fourth quarter of 2025 upon completion of the previous stock repurchase program.
+Added: Our stock repurchase program is intended to offset the impact of dilution from our equity compensation programs and, subject to market conditions and other factors, may also be used to make opportunistic repurchases of our common stock to reduce outstanding share count.
+Added: Any share repurchases under our stock repurchase program may be made through open market transactions, block trades, privately negotiated transactions, including accelerated share repurchase agreements or other means at times and in such amounts as management deems appropriate, and will be funded from our working capital or other financing alternatives.
Moreover, any stock repurchases are subject to market conditions and other uncertainties and we cannot predict if or when any stock repurchases will be made.
−Removed: We may terminate our stock repurchase programs at any time without prior notice.
−Removed: The stock repurchase activity under our stock repurchase programs during the three months ended September 30, 2025 is summarized below:
+Added: We may terminate our stock repurchase program at any time without prior notice.
+Added: The stock repurchase activity under our stock repurchase program during the three months ended March 31, 2026 is summarized below:
Total number of shares purchased Average price
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(In millions, except per share amounts)
−Removed: Balance as of June 30, 2025
−Removed: July 1, 2025 through July 31, 2025
−Removed: 7.0 $ 74.75 7.0 16,331
−Removed: August 1, 2025 through August 31, 2025
−Removed: 7.3 $ 68.85 7.3 15,831
−Removed: September 1, 2025 through September 30, 2025
+Added: Balance as of December 31, 2025 $ 13,854
+Added: January 1, 2026 through January 31, 2026 — $ — — 13,854
+Added: February 1, 2026 through February 28, 2026 11.3 $ 43.03 11.3 13,370
+Added: March 1, 2026 through March 31, 2026
22.4 $ 45.39 22.4 12,354
−Removed: Balance as of September 30, 2025
+Added: Balance as of March 31, 2026
33.7 33.7 $ 12,354
4 unchanged sentences
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.