Item 1A. Risk Factors

For a discussion of our risk factors please see the section entitled “Risk Factors” in our 2025 Annual Report on Form 10-K.

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

We had no repurchases of common stock during the three months ended June 30, 2026. The approximate dollar value of shares that may yet be purchased under the company’s share repurchase authorization is $2.5 billion as of June 30, 2026.

Share repurchases take place from time to time, subject to market and regulatory conditions and management’s discretion, in the open market or in privately negotiated transactions. The company retires its common stock upon repurchase.

See Note 2 to the financial statements for further information on our share repurchase programs.