Item 1A. Risk Factors.

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Item 1A. Risk Factors.

For the three and six months ended June 30, 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


April 1 to April 30, 2023	47,482	$	1,557.86	47,482	$	3,135,193
May 1 to May 31, 2023	67,719	$	1,411.84	67,719	$	3,040,386
June 1 to June 30, 2023	62,553	$	1,321.93	62,553	$	2,958,433
Total	177,754	$	1,419.21	177,754	$	2,958,433

The Company has $3.0 billion of remaining availability as of June 30, 2023. We have purchased 31.4 million shares since the inception of the program through June 30, 2023.

During the six months ended June 30, 2023 and 2022, we spent $500.0 million and $550.0 million on the repurchase of 344,382 and 408,901 shares at an average price per share of $1,464.00 and $1,345.05, respectively. We also reissued 70,191 shares and 72,408 shares held in treasury upon the exercise of stock options and vesting of restricted stock units during the six months ended June 30, 2023 and 2022, respectively. In addition, we incurred $2.3 million and $4.2 million of excise tax during the three and six months ended June 30, 2023 related to the Inflation Reduction Act which is reflected as a reduction in shareholders' equity in our consolidated financial statements.

**Item 3.**Defaults Upon Senior Securities. None

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