Item 1A. Risk Factors

There have been no material changes from the risk factors set forth in Part I, Item 1A in our Annual Report.

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

On October 1, 2021, our Board authorized a share repurchase program of up to $4 billion of our outstanding common stock, enabling us to opportunistically return value to shareholders. The $4 billion authorization is effective for four years, beginning on January 1, 2022 and expiring on December 31, 2025, and does not require the purchase of any minimum number of shares.

The following table summarizes shares repurchased by the Company under this program during the first quarter of 2023:


Period	Total Number of Shares Purchased	Average Price Paid per Share		Total Number of Shares Purchased as Part of Publicly Announced Program	Maximum Amount of Dollars that May Yet be Used to Purchase Shares Under the Program (in millions)(1)
January 1 to January 31	2,000,000	$	34.59	2,000,000	$	3,552
February 1 to February 28	471,803	35.74		471,803	3,535
March 1 to March 31	4,135,722	35.05		4,135,722	3,390
Total	6,607,525	$	34.96	6,607,525	$	3,390

(1)The share repurchase program was authorized prior to the issuance of the Inflation Reduction Act of 2022, which imposes a 1% excise tax on net share repurchases that occur after December 31, 2022. For the first quarter of 2023, the Company recorded $1 million to additional paid-in capital for the excise tax associated with shares repurchased during the quarter.

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