Item 1A. Risk Factors

There have been no material changes from the risk factors previously disclosed under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025.

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

Company Purchases of Equity Securities

Stock repurchases during the three months ended June 30, 2026 were as follows:


Period	Total Number of Shares Purchased(1)	Average Price Paid per Share(2)		Total Number of Shares Purchased as Part of Publicly Announced Programs(1)	Approximate Dollar Value of Shares that May Yet Be Purchased Under the Program(1)
					(in thousands)
April 1 - 30, 2026	16,922,312	$	97.47	16,922,312	$	30,126,783
May 1 - 31, 2026	16,537,940	$	88.68	16,537,940	$	28,660,178
June 1 - 30, 2026	19,474,436	$	79.08	19,474,436	$	27,120,118
Total	52,934,688			52,934,688


(1) In March 2021, the Company’s Board of Directors authorized a share repurchase program for the Company’s common stock with no expiration date. The Board subsequently approved additional repurchase authorizations in September 2023 and December 2024, and most recently in April 2026, authorized the repurchase of an additional $25 billion of the Company’s common stock. For further information regarding stock repurchase activity, see Note 10 Stockholders’ Equity to the consolidated financial statements in this Quarterly Report on Form 10-Q.
(2) Average price paid per share includes costs associated with the repurchases but excludes the 1% excise tax on stock repurchases imposed by the Inflation Reduction Act of 2022.

Previous: Item 1. Legal Proceedings · Next: Item 5. Other Information