The Board of Directors of Seagate Technology PLC (NasdaqGS: STX) authorized a share repurchase program on January 25, 2012. Under the program, the company will repurchase up to $1 billion worth of its outstanding shares. The repurchases may be made through a variety of methods, such as open market purchases, privately negotiated transactions, block trades, accelerated share repurchase transactions or by any combination of such methods. The repurchases will be funded through a combination of cash on hand, future cash flow from operations and potential alternative sources of financing. The timing and actual number of shares repurchased will depend on a variety of factors including the share price, corporate and regulatory requirements and other market and economic conditions. The program may be suspended or discontinued at any time.