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 during the six months ended July 31, 2026 made prior to February 23, 2026 were made under the program in effect at the beginning of fiscal 2027. 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. As of July 31, 2026, authorization for $25.1 billion of share repurchases remained under the current share repurchase program, which has no expiration date or other restrictions limiting the period over which the Company can make repurchases. 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, 2026, 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, 2026 6,074,858 $ 126.18 6,074,858 $ 27.4 June 1 - 30, 2026 8,950,798 117.91 8,950,798 26.3 July 1 - 31, 2026 10,936,366 111.99 10,936,366 25.1 Total 25,962,022 25,962,022 (1) Represents approximate dollar value of shares that could have been purchased under the plan in effect at the end of the month.