Item 1A. Risk Factors

In addition to the other information set forth in this report, you should carefully consider the risk factors discussed in Item 1A. "Risk Factors" contained in our Annual Report on Form 10-K for the period ended December 31, 2021 and the risk factor below:

The impact of the Russian invasion of Ukraine may adversely affect our business and results of operations.

Given the global nature of our business and operations, global political, economic, and other conditions, including geopolitical risks such as the current Russian invasion of Ukraine, may adversely affect our business and results of operations. We have halted new orders and shipments into Russia and Belarus until further notice and in alignment with international sanctions, which as of March 31, 2022, has not had and is not expected to have a material impact on our operating results. The broader consequences of this conflict, which may include further sanctions, embargoes, regional instability, and geopolitical shifts; potential retaliatory action by the Russian government against companies including us (including laws that target foreign businesses in Russia); increased tensions between the United States and countries in which we operate; and the extent of the conflict’s effect on our business and results of operations as well as the global economy, cannot be estimated with certainty at this time.

To the extent the current conflict between Russia and Ukraine adversely affects our business, it may also have the effect of heightening many other risks disclosed in our Annual Report, any of which could materially and adversely affect our business and results of operations. Such risks include, but are not limited to, adverse effects on global economic conditions generally, including recessions, economic downturns, slowing economic growth and social and political instability; commodity shortages, supply chain risks and price increases; instability in U.S. and global capital and credit markets which could impact us, our suppliers and customers; and currency exchange rate fluctuations among others. In addition, the risk of cyberattacks has increased in connection with Russia’s invasion of Ukraine.

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

Issuer Purchases of Equity Securities

The following table provides information with respect to purchases of our ordinary shares during the first quarter of 2022:

(a) Share repurchases are made from time to time in accordance with management's capital allocation strategy, subject to market conditions and regulatory requirements. In February 2021, our Board of Directors authorized the repurchase of up to $2.0 billion of our ordinary shares under a new share repurchase program (2021 Authorization) upon completion of the prior share repurchase program. During the three months ended March 31, 2022, we repurchased and canceled $350.0 million of our ordinary shares leaving approximately $1.0 billion remaining under the 2021 Authorization. In February 2022, our Board of Directors authorized the repurchase of up to $3.0 billion of our ordinary shares under a new share repurchase program (2022 Authorization) upon completion of the 2021 Authorization.

(b) We may also reacquire shares outside of the repurchase program from time to time in connection with the surrender of shares to cover taxes on vesting of share based awards. We reacquired 3,823 shares in January and 52,358 shares in February and 130,750 shares in March in transactions outside of the repurchase programs.

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