Item 1A. Risk Factors.

Our operations and financial results are subject to various risks and uncertainties, including those described in Part I, Item 1A, "Risk Factors" in our Annual Report on Form 10-K for the fiscal period ended October 31, 2021, and in Part II, Item 1A, "Risk Factors" in our Quarterly Reports on Form 10-Q for the fiscal quarters ended January 31, 2022 and April 30, 2022, which could adversely affect our business, financial condition, results of operations, cash flows, and the trading price of our common stock.

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

Recent Sales of Unregistered Securities

There were no unregistered sales of equity securities during the period covered by this report.

Issuer Purchases of Equity Securities

In connection with the share repurchase program previously authorized by our Board of Directors, during the three months ended July 31, 2022, the Company repurchased and settled a total of 13.9 million shares under its share repurchase program through open market repurchases, which included 0.1 million shares that were unsettled open market repurchases as of April 30, 2022. Additionally, as of July 31, 2022, the Company had unsettled open market repurchases of 0.3 million shares.

Table of Contents

Shares repurchased during the three months ended July 31, 2022, were recorded as a $199 million reduction to stockholders' equity. As of July 31, 2022, the Company had a remaining authorization of $1.5 billion for future share repurchases.