[jldugger]

was there a tax law change that motivated this versus more buybacks?

[mrep]

Yes, they've started taxing stock buybacks (albeit it started a year ago): https://www.irs.gov/newsroom/treasury-irs-issue-guidance-on-...

[mtremsal]

they're doing both?

[jldugger]

Sure, but why do both and why now?

[1024core]

por que no los dos....?

[jldugger]

My expectation is that whatever logic held up last quarter held up this quarter. It's possible the optimal allocation is some of both, but what's the tradeoff that would drive that instead of one being mathematically superior to the other?