Item 1A. RISK FACTORS
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Item 1A. RISK FACTORS
Not applicable.
ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
We did not have any sales of unregistered securities for the six months ended March 31, 2025.
We purchase our own stock from time to time in conjunction with a number of activities, each of which is described in the following paragraphs. The following table presents information on our purchases of our own stock, on a monthly basis, for the six months ended March 31, 2025.
| Total number of shares purchased | Average price per share | Number of shares purchased as part of publicly announced plans or programs | Approximate dollar value (in millions) at each month-end of securities that may yet be purchased under the plans or programs | ||||||||||||||||||||
| October 1, 2024 – October 31, 2024 | — | $ | — | — | $644 | ||||||||||||||||||
| November 1, 2024 – November 30, 2024 | 427 | $ | 154.42 | — | $644 | ||||||||||||||||||
| December 1, 2024 – December 31, 2024 | 371,287 | $ | 161.98 | 310,302 | $1,450 | ||||||||||||||||||
| First quarter | 371,714 | $ | 161.97 | 310,302 | |||||||||||||||||||
| January 1, 2025 – January 31, 2025 | 23,435 | $ | 162.69 | — | $1,450 | ||||||||||||||||||
| February 1, 2025 – February 28, 2025 | 315,686 | $ | 158.54 | 315,391 | $1,400 | ||||||||||||||||||
| March 1, 2025 – March 31, 2025 | 1,402,024 | $ | 142.78 | 1,399,870 | $1,200 | ||||||||||||||||||
| Second quarter | 1,741,145 | $ | 145.91 | 1,715,261 | |||||||||||||||||||
| Fiscal year-to-date total | 2,112,859 | $ | 148.74 | 2,025,563 |
In December 2024, the Board of Directors authorized repurchase of our common stock in an aggregate amount of up to $1.5 billion, which replaced the previous authorization. For additional information about our share repurchase activities, see Note 17 of the Notes to Condensed Consolidated Financial Statements of this Form 10-Q.
In the preceding table, the total number of shares purchased includes shares purchased pursuant to the Restricted Stock Trust Fund, which was established to acquire our common stock in the open market and used to settle RSUs granted as a retention vehicle for certain employees of our wholly-owned Canadian subsidiaries. For additional information on this trust fund, see Note 2 of the Notes to Consolidated Financial Statements of our 2024 Form 10-K and Note 9 of the Notes to Condensed Consolidated Financial Statements of this Form 10-Q. These activities do not utilize the repurchase authorization presented in the preceding table.
The total number of shares purchased also includes shares repurchased as a result of employees surrendering shares as payment for option exercises or withholding taxes. These activities do not utilize the repurchase authorization presented in the preceding table.
ITEM 3. DEFAULTS UPON SENIOR SECURITIES
None.
ITEM 4. MINE SAFETY DISCLOSURES
Not applicable.
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