Item 1A. Risk Factors.

For the three months ended March 31, 2023 there were no material changes from risk factors disclosed in Part I, Item 1A of the Company’s Annual Report on Form 10-K for the year ended December 31, 2022.

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

Issuer Purchases of Equity Securities


	(a)	(b)		(c)	(d)
Total Number of Shares Purchased	Average Price Paid per Share	Total Number of Shares Purchased as Part of Publicly Announced Program		Approximate Dollar Value (in thousands) of Shares that may yet be Purchased under the Program


January 1 to January 31, 2023	51,153	$	1,528.86	51,153	$	3,380,858
February 1 to February 28, 2023	53,677	$	1,534.44	53,677	$	3,298,978
March 1 to March 31, 2023	61,798	$	1,477.97	61,798	$	3,208,431
Total	166,628	$	1,511.78	166,628	$	3,208,431

The Company has $3.2 billion of remaining availability for its share repurchase program as of March 31, 2023. We have purchased 31.2 million shares since the inception of the program through March 31, 2023.

During the three months ended March 31, 2023 and 2022, we spent $250.0 million and $275.0 million on the repurchase of 166,628 and 190,593 shares at an average price per share of $1,511.78 and $1,442.84, respectively. We reissued 47,849 shares and 27,795 shares held in treasury for the exercise of stock options and restricted stock units for the three months ended March 31, 2023 and 2022, respectively. In addition, we incurred $1.9 million of excise tax during the three months ended March 31, 2023 related to the Inflation Reduction Act which is reflected as a reduction in shareholders' equity in the our consolidated financial statements.

Item 3. Defaults Upon Senior Securities. None

Previous: Item 4. Controls and Procedures · Next: Item 5. Other information. None