filings.toolsItem 1A. Risk Factors
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Item 1A. Risk Factors
Information regarding risk factors of the Company is set forth under the heading “Risk Factors” under Part I, Item 1A in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022, as filed with the SEC on February 27, 2023. The Company reviewed its risk factors as of April 1, 2023 and determined that there were no material changes from the ones set forth in the Form 10-K. Note, however, the discussion of certain factors under the subheading “Special Note Regarding Forward-Looking Statements” in Part I, Item 2 of this Quarterly Report on Form 10-Q. These risks are not the only ones facing the Company. Additional risks and uncertainties not currently known to the Company or that the Company currently deems to be immaterial may have a material adverse effect on the Company’s business, financial condition and operating results.
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Item 2: Unregistered Sales of Equity Securities and Use of Proceeds
Purchases of Equity Securities by the Issuer
The following table provides information about purchases by the Company during the three months ended April 1, 2023 of equity securities registered by the Company under the Exchange Act (in thousands, except per share data):
| Period | Total Number of Shares Purchased (1) | Average Price Paid per Share | Total Number of Shares Purchased as Part of Publicly Announced Programs | Maximum Dollar Value of Shares that May Yet Be Purchased Under the Programs (2) | ||||||||||||
| January 1, 2023 to January 28, 2023 | 173 | $ | 335.27 | 173 | $ | 1,011,207 | ||||||||||
| January 29, 2023 to February 25, 2023 | 18 | $ | 313.01 | — | $ | 1,011,207 | ||||||||||
| February 26, 2023 to April 1, 2023 | 18 | $ | 306.11 | — | $ | 1,011,207 | ||||||||||
| Total | 209 | $ | 330.84 | 173 | $ | 1,011,207 | ||||||||||
| (1) | The Company repurchased approximately 36 thousand shares of common stock at a cost of $11 million related to the vesting of restricted stock during the first three months of 2023. |
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| (2) | In January 2019, the Company’s Board of Directors authorized the Company to repurchase up to $4 billion of its outstanding common stock in open market or private transactions over a two-year period. This program replaced the remaining amounts available under the pre-existing authorization. In December 2020, the Company’s Board of Directors authorized the extension of the share repurchase program through January 21, 2023. In December 2022, the Company’s Board of Directors amended and extended this repurchase program’s term by one year such that it shall now expire on January 21, 2024 and increased the total authorization to $4.8 billion, an increase of $750 million. The size and timing of these purchases, if any, will depend on our stock price and market and business conditions, as well as other factors. |
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