filings.toolsItem 1A. Risk Factors
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Item 1A. Risk Factors
Other than the risk factor set forth below, there have been no material changes from the risk factors contained in "Item 1A. - Risk Factors" of our Annual Report on Form 10-K for the fiscal year ended June 30, 2025. Additional risks not currently known to us or that we currently deem to be immaterial may also materially affect our consolidated financial position, results of operations, or cash flows.
Strategic Review of Portfolio - Our strategic review of our portfolio may cause disruptions to our business, may not result in the completion of a transaction to restructure or divest of non-core businesses or create additional value for our shareholders.
In August 2025, we announced that we had completed a review of portfolio-related strategic alternatives and identified businesses with combined sales of $2.5 billion for further review, which could result in restructuring or sale of the identified businesses, among other options. There is no assurance as to the timeline or outcome of the strategic review process, including that actions taken will increase shareholder value. In addition, the strategic review process may require the deployment of significant resources and expense and cause disruption in our business given speculation and uncertainty around our ultimate actions. If we are unable to mitigate these or other potential risks related to our strategic review of our portfolio, then this process may adversely impact our business, financial condition, results of operations, or cash flows.
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
Share Repurchases
In the quarter ended September 30, 2025, the Company did not maintain a share repurchase program as the prior program had expired on its terms. The table below is presented in millions, except number of shares, which are reflected in thousands, and per share amounts, which are expressed in U.S. dollars:
| Period | Total Number of Shares Purchased (1) | Average Price Paid Per Share (1)(2) | 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 Programs | |||||||||||||||||||||||||
| July 1 - 31, 2025 | — | $ | — | — | $ | — | |||||||||||||||||||||||
| August 1 - 31, 2025 | 1,792 | 12.16 | — | — | |||||||||||||||||||||||||
| September 1 - 30, 2025 | — | — | — | — | |||||||||||||||||||||||||
| Total | 1,792 | $ | 12.16 | — |
(1) Includes shares purchased on the open market to satisfy the vesting and exercises of share-based compensation awards.
(2) Average price paid per share excludes costs associated with the repurchases.
Item 3. Defaults Upon Senior Securities
Not applicable.
Item 4. Mine Safety Disclosures
Not applicable.
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