1 unchanged sentence
From time to time, the Company repurchases shares of its common stock under share repurchase programs authorized by the Company's Board of Directors.
−Removed: All repurchases made during the three months ended October 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.
−Removed: As of October 31, 2025, authorization for $5.1 billion of share repurchases remained under the share repurchase program.
+Added: All repurchases made during the three months ended April 30, 2026 prior to February 23, 2026 were made under the program in effect at the beginning of fiscal 2027.
+Added: In February 2026, the Company approved a new $30 billion share repurchase program, which beginning on February 23, 2026, replaced the previous share repurchase program.
+Added: As of April 30, 2026, authorization for $28.2 billion of share repurchases remained under the current 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.
−Removed: Share repurchase activity under our share repurchase program, on a trade date basis, for the three months ended October 31, 2025, was as follows:
+Added: Share repurchase activity under our share repurchase program, on a trade date basis, for the three months ended April 30, 2026, was as follows:
Fiscal Period Total
8 unchanged sentences
Plans or Programs (1)
−Removed: August 1 - 31, 2025 2,974,615 $ 99.53 2,974,615 $ 5.6
−Removed: September 1 - 30, 2025 2,506,546 101.99 2,506,546 5.3
−Removed: October 1 - 31, 2025 2,434,368 103.84 2,434,368 5.1
+Added: February 1 - 28, 2026 3,481,270 $ 127.23 3,481,270 $ 29.8
+Added: March 1 - 31, 2026 7,028,263 123.83 7,028,263 28.9
+Added: April 1 - 30, 2026 6,171,552 126.89 6,171,552 28.2
Total 16,681,085 16,681,085
1 unchanged sentence
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.