filings.toolsItem 1A. Risk Factors
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Item 1A. Risk Factors
Information regarding Risk Factors appears in Part I, Item 1A. Risk Factors of our 2021 Form 10-K. There have been no material changes to the risk factors previously disclosed in our 2021 Form 10-K.
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
In January 2021, our Board of Directors authorized a $2.0 billion share repurchase program that it expanded to $3.5 billion in October 2021 (as expanded, the “January 2021 share repurchase program”), which we expect to complete by December 31, 2022. The timing of share repurchases under this program depends upon marketplace conditions and other factors, and the program remains subject to the discretion of our Board.
Our share repurchase activity for each of the three months in the period ended March 31, 2022, was as follows:
| Period | Total Number of Shares Purchased (1) | 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 | ||||||||||||||||||||||
| January 1-31, 2022 | 3,879,494 | $ | 49.66 | 3,879,494 | $ | 1,632,497,356 | ||||||||||||||||||||
| February 1-28, 2022 | 3,822,121 | $ | 50.63 | 3,620,653 | $ | 1,449,346,673 | ||||||||||||||||||||
| March 1-31, 2022 | 3,870,909 | $ | 51.82 | 3,870,909 | $ | 1,248,773,533 | ||||||||||||||||||||
| 11,572,524 | $ | 50.70 | 11,371,056 |
(1) The total number of shares purchased includes (a) shares purchased under the January 2021 share repurchase program and (b) shares withheld in an amount equal to the statutory withholding taxes for vested stock-based awards previously granted to eligible employees (which totaled 201,468 in February).
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