filings.toolsItem 1A. Risk Factors
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Item 1A. Risk Factors
There have been no material changes from the risk factors set forth in Part I, Item IA of our Annual Report on Form 10-K for the fiscal year ended December 31, 2023 (the “Annual Report”). Our business, operations, and financial results are subject to various risks and uncertainties that could materially adversely affect our business, results of operations, financial condition, and the trading price of our Class A common stock. You should carefully read and consider the risks and uncertainties included in the Annual Report, together with all of the other information in the Annual Report and this Quarterly Report on Form 10-Q, including the section titled “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and our unaudited condensed consolidated financial statements and related notes, and other documents that we file with the U.S. Securities and Exchange Commission. The risks and uncertainties described in these reports may not be the only ones we face. The factors discussed in these reports, among others, could cause our actual results to differ materially from historical results and those expressed in forward-looking statements made by us or on our behalf in filings with the SEC, press releases, communications with investors, and oral statements.
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
Issuer Purchases of Equity Securities
The following table sets forth information relating to repurchases of our equity securities during the three months ended March 31, 2024 (in millions, except per share amounts):
| Period | Total Number of Shares Purchased | Average Price Paid per Share (1) | 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 (2) | ||||||||||
| January 1 - 31 | — | $ | — | — | $ | 750 | ||||||||
| February 1 - 29 | 1.2 | $ | 150.25 | 1.2 | $ | 6,570 | ||||||||
| March 1 - 31 | 3.5 | $ | 162.87 | 3.5 | $ | 6,000 | ||||||||
| Total | 4.7 | $ | 159.65 | 4.7 |
(1)Includes broker commissions.
(2)On May 9, 2023 and February 13, 2024, we announced that our board of directors approved share repurchase programs with authorization to purchase up to $2.5 billion and $6.0 billion of our Class A common stock, respectively, at management’s discretion. The Company has repurchased the full amount of shares authorized for repurchase under the May 2023 repurchase program. The share repurchase programs do not have an expiration date, do not obligate us to repurchase any specific number of shares, and may be modified, suspended or terminated at any time at our discretion.
Item 3. Defaults Upon Senior Securities
None.
Item 4. Mine Safety Disclosures
Not applicable.
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