Item 1A. Risk Factors.

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Item 1A. Risk Factors.

There have been no material changes with respect to those risk factors previously disclosed in Item 1A “Risk Factors” in Part I of our 2024 Form 10-K.

It****em 2. Unregistered Sales of Equity Securities and Use of Proceeds.

c. Purchases of Equity Securities by the Issuer and Affiliated Purchasers.


							Maximum Approximate Dollar
					Total Number of Shares		Value of Shares that
	Total Number				Purchased as Part of		May Yet Be Purchased
	of Shares		Average Price Paid		Publicly Announced		Under the Program (2)
Period	Purchased (1)		Per Share		Program (2)		(in thousands)
Period #1 (December 30, 2024 to January 26, 2025)		1,014	$	432.85		—	$	814,337
Period #2 (January 27, 2025 to February 23, 2025)		1,575		461.65		—		814,337
Period #3 (February 24, 2025 to March 23, 2025)		118,117		435.25		115,280		764,337
Total		120,706	$	435.58		115,280	$	764,337


(1)	5,426 shares in the first quarter of 2025 were purchased as part of the Company’s employee stock payroll deduction plan at an average price of $474.94.
(2)	On February 21, 2024, the Company’s Board of Directors authorized an additional share repurchase program to repurchase up to $1.0 billion of the Company’s common stock, in addition to the $141.3 million that was previously remaining for a total authorization of $1.14 billion for future share repurchases as of that date. As of March 23, 2025, $764.3 million remained available for future purchases of the Company’s common stock under this share repurchase program.
	Authorization for the repurchase program may be modified, suspended, or discontinued at any time. The repurchase of shares in any particular period and the actual amount of such purchases remain at the discretion of the Board of Directors, and no assurance can be given that shares will be repurchased in the future.

It****em 3. Defaults Upon Senior Securities.

None.

Ite****m 4. Mine Safety Disclosures.

Not applicable.

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