filings.toolsItem 1A. Risk Factors.
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Item 1A. Risk Factors.
Except as follows, there have been no material changes in the risk factors disclosed in Part I, Item 1A in our 2022 Form 10-K.
For more information on our risk management activities, refer to Part I, Item 1, Note 5 “Risk Management” to our consolidated financial statements.
For updates regarding the EPA’s final rule known as the “Good Neighbor Plan,” which was discussed under Item 1A in our Form 10-Q for the three months ended March 31, 2023, please refer to Part I, Item 2. “Management’s Discussion and Analysis of Financial Condition and Results of Operations—Liquidity and Capital Resources—Capital Expenditures—Impact of Regulation” and Note 9, “Litigation and Environmental—Environmental Matters—Challenge to Federal “Good Neighbor Plan,” to our consolidated financial statements.
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.
Our Purchases of Our Class P Stock
(During the quarter ended June 30, 2023)
| Settlement Period | Total number of securities purchased(a) | Average price paid per security(b) | Total number of securities purchased as part of publicly announced plans(a) | Maximum number (or approximate dollar value) of securities that may yet be purchased under the plans or programs(a) | ||||||||||||||||||||||
| April 1 to April 30, 2023 | — | $ | — | — | $ | 1,944,068,674 | ||||||||||||||||||||
| May 1 to May 31, 2023 | 6,987,483 | 16.56 | 6,987,483 | 1,828,348,210 | ||||||||||||||||||||||
| June 1 to June 30, 2023 | 5,283,678 | 16.59 | 5,283,678 | 1,740,686,259 | ||||||||||||||||||||||
| Total | 12,271,161 | $ | 16.57 | 12,271,161 | $ | 1,740,686,259 |
(a)On July 19, 2017, our board of directors approved a $2 billion common share buy-back program. On January 18, 2023, our board of directors approved an increase in our share repurchase authorization to $3 billion from $2 billion. After repurchase, the shares are canceled and no longer outstanding.
(b)Amount includes any commission or other costs to repurchase shares.
Subsequent to June 30, 2023 and through July 20, 2023, we repurchased less than 1 million shares for $13 million at an average price of $16.93 per share.
Item 3. Defaults Upon Senior Securities.
None.
Item 4. Mine Safety Disclosures.
Except for one terminal facility that is in temporary idle status with the Mine Safety and Health Administration, we do not own or operate mines for which reporting requirements apply under the mine safety disclosure requirements of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank). We have not received any specified health and safety violations, orders or citations, related assessments or legal actions, mining-related fatalities, or similar events requiring disclosure pursuant to the mine safety disclosure requirements of Dodd-Frank for the quarter ended June 30, 2023.
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