Item 1A. Risk Factors.

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Item 1A. Risk Factors.

There have been no material changes to the risk factors disclosed in our 2022 Annual Report on Form 10-K.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.

In November 2005, the Company's Board of Directors announced a stock repurchase program, which was most recently been increased in December 2022. The Company is authorized to repurchase up to $6.0 billion, inclusive of past authorizations.

The stock repurchase program is effected primarily through regular open-market purchases (which may include repurchase plans designed to comply with Rule 10b5-1 and accelerated share repurchases), the amounts and timing of which are subject to our discretion as part of our capital allocation strategy, and may be based upon general market conditions and the prevailing price and trading volumes of our common stock. No duration has been placed on the repurchase program. We reserve the right to discontinue the repurchase program at any time.


Issuer Purchases of Equity Securities Second Quarter 2023 (Shares in thousands)
Period		Total Number of Shares Purchased (1)	Average Price Paid per Share (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 Plans or Programs ($ in millions) (3)
April 1, 2023 - April 30, 2023		3,025	$	66.77	2,994	$	2,229
May 1, 2023 - May 31, 2023		12	67.34		—	2,229
June 1, 2023 - June 30, 2023		3,062	65.93		3,034	2,029
Total		6,099	$	66.36	6,028	$	2,029

(1)	Includes 71 thousand shares relinquished to the Company by certain employees for payment of taxes.
(2)	Average price paid per share excludes share repurchase excise tax of $3 million accrued as of June 30, 2023.
(3)	A remaining amount of approximately $2.0 billion is available under the stock repurchase program as of June 30, 2023.

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