Apple 2014 Annual Report Download - page 24

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Purchases of Equity Securities by the Issuer and Affiliated Purchasers
Share repurchase activity during the three months ended September 27, 2014 was as follows (in millions, except number of
shares, which are reflected in thousands, and per share amounts):
Q4 Fiscal Periods
Total
Number of
Shares
Purchased
Average
Price
Paid Per
Share
Total Number
of Shares
Purchased
as Part of
Publicly
Announced
Plans or
Programs
Approximate
Dollar Value of
Shares That
May Yet Be
Purchased
Under the
Plans or
Programs (1)
June 29, 2014 to August 2, 2014:
Open Market Purchases 19,530 $ 96.77 19,530
August 3, 2014 to August 30, 2014:
August 2014 ASR 59,924 (2) (2) 59,924 (2)
Open Market Purchases 56,062 $ 98.83 56,062
August 31, 2014 to September 27, 2014:
Open Market Purchases 5,663 $100.64 5,663
Total 141,179 $22,050
(1) In 2012, the Company’s Board of Directors authorized a program to repurchase up to $10 billion of the Company’s
common stock beginning in 2013. The Company’s Board of Directors increased the share repurchase program
authorization to $60 billion in April 2013 and to $90 billion in April 2014. As of September 27, 2014, $67.9 billion of the
$90 billion had been utilized. The remaining $22.1 billion in the table represents the amount available to repurchase shares
under the authorized repurchase program as of September 27, 2014. The Company’s share repurchase program does
not obligate it to acquire any specific number of shares. Under the program, shares may be repurchased in privately
negotiated and/or open market transactions, including under plans complying with Rule 10b5-1 under the Exchange Act.
(2) In August 2014, the Company entered into a new accelerated share repurchase arrangement (“ASR”) to purchase up to
$9.0 billion of the Company’s common stock. In exchange for up-front payments totaling $9.0 billion, the financial
institutions committed to deliver shares during the ASR’s purchase period, which will end in or before February 2015. The
total number of shares ultimately delivered, and therefore the average price paid per share, will be determined at the end
of the applicable purchase period based on the volume weighted-average price of the Company’s common stock during
that period. During the fourth quarter of 2014, 59.9 million shares were delivered and retired under the ASR, and the final
number of shares to be delivered will be determined at the conclusion of the purchase period.
Apple Inc. | 2014 Form 10-K | 22