Walmart Inc. 10-Q

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds From time to time, the Company repurchases shares of its common stock under share repurchase programs authorized by the Company's Board of Directors. All repurchases made during the three months ended July 31, 2025 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, 2025, authorization for $5.9 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, its results of operations 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, 2025, 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, 2025 9,319,341 $ 97.39 9,319,341 $ 6.5 June 1 - 30, 2025 3,337,422 96.73 3,337,422 6.2 July 1 - 31, 2025 3,747,546 96.60 3,747,546 5.9 Total 16,404,309 16,404,309 (1) Represents approximate dollar value of shares that could have been purchased under the plan in effect at the end of the month.