Item 2. Unregistered Sales of Equity Securities
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
From time to time, the Company repurchases shares of our common stock under share repurchase programs authorized by the Company's Board of Directors. All repurchases made during the three months ended July 31, 2024 were made under the current $20 billion share repurchase program approved in November 2022, which has no expiration date or other restrictions limiting the period over which the Company can make repurchases. As of July 31, 2024, authorization for $14.5 billion of share repurchases remained under the share repurchase program. Any repurchased shares are constructively retired and returned to an unissued status.
The Company regularly reviews its share repurchase activity and considers several factors in determining when to execute share repurchases, including, among other things, current cash needs, capacity for leverage, cost of borrowings and the market price of its common stock. Share repurchase activity under our share repurchase program, on a trade date basis, for the three months ended July 31, 2024, was as follows:
Fiscal 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 (1)
(billions)
May 1 - 31, 2024 5,828,379 $ 62.19 5,828,379 $ 15.1
June 1 - 30, 2024 4,356,393 67.12 4,356,393 14.8
July 1 - 31, 2024 4,860,317 69.66 4,860,317 14.5
Total 15,045,089 15,045,089
(1) Represents approximate dollar value of shares that could have been purchased under the plan in effect at the end of the month.
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