11.  Common Stock Repurchase Program

The Company repurchases shares of its common stock as part of capital allocation programs authorized by our Board of Directors. During the three months ended June 30, 2026, we repurchased 3.0 million shares of our common stock in open market transactions in compliance with Rule 10b5-1 and Rule 10b-18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) for $671 million, inclusive of per-share commissions and taxes, for a weighted average price per share of $223.94. During the six months ended June 30, 2026, we repurchased 4.5 million shares of our common stock in open market transactions in compliance with Rule 10b5-1 and Rule 10b-18 of the Exchange Act for $1.0 billion, inclusive of per-share commissions and taxes, for a weighted average price per share of $227.89. These repurchases were made under the $3.0 billion Board of Directors authorization announced in December 2025.

As of June 30, 2026, the Company has remaining authorization for $2.0 billion of future share repurchases. Any future share repurchases pursuant to this authorization of our Board of Directors will be made at the discretion of management and will depend on factors similar to those considered by the Board of Directors in making dividend declarations, including our leverage level, net earnings, financial condition and cash required for future business plans, growth and acquisitions.