filings.toolsItem 1A. Risk Factors
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Item 1A. Risk Factors
Our business has many risks. Factors that could materially adversely affect our business, financial condition, operating results or liquidity and the trading price of our common stock are described under “Risk Factors” in Item 1A of our 2021 Form 10-K and the additional risk factor provided below, which supplements the risk factors included in our 2021 Form 10-K. This information should be considered carefully, together with other information in this report and other reports and materials we file with the SEC.
The conflict in Ukraine and related price volatility and geopolitical instability could negatively impact our business**.**
In late February 2022, Russia launched significant military action against Ukraine. The conflict has caused, and could intensify, volatility in oil, natural gas and NGL prices, and the extent and duration of the military action, sanctions and resulting market disruptions could be significant and could potentially have a substantial negative impact on the global economy and/or our business for an unknown period of time. Any such volatility and disruptions may also magnify the impact of other risks described under “Risk Factors” in Item 1A of our 2021 Form 10-K.
| Item 2. Unregistered Sales of Equity Securities and Use of Proceeds |
Repurchases of Equity Securities
On December 2, 2021, we announced that our Board of Directors authorized the repurchase of up to $1.0 billion in aggregate value of our common stock and/or warrants from time to time. The repurchase authorization permits repurchases on a discretionary basis as determined by management, subject to market conditions, applicable legal requirements, available liquidity, compliance with the Company’s debt agreements and other appropriate factors. The following table provides information regarding purchases of our common stock made by us during the quarter ended March 31, 2022.
| 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 (in millions) | ||||||||||||||||||||||
| January 1 - January 31 | — | $ | — | — | $ | 1,000 | ||||||||||||||||||||
| February 1 - February 28 | — | $ | — | — | $ | 1,000 | ||||||||||||||||||||
| March 1 - March 31 | 1,000,000 | $ | 82.98 | 1,000,000 | $ | 917 | ||||||||||||||||||||
| Total | 1,000,000 | $ | 82.98 | 1,000,000 |
| Item 3. Defaults Upon Senior Securities |
None.
| Item 4. Mine Safety Disclosures |
The information concerning mine safety violations and other regulatory matters required by Section 1503(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act and Item 104 of Regulation S-K (17 CFR 229.104) is included in Exhibit 95.1 to this Form 10-Q.
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