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  "documentTitle": "Apple Inc. (AAPL)",
  "authorId": "04_Greenlight_Capital",
  "authorName": "David Einhorn",
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  "presentationDate": "2013-02-21 00:00:00",
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      "text": "Under this plan Apple could repurchase 140 million shares or about 15% of the outstanding shares, leaving 805 million shares outstanding.",
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      "text": "shares outstanding: 805",
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      "text": "Let's look at a second option: a one time $84 billion share repurchase. To get this all done at once, we assume a tender at $600 per share. This way all the shareholders would benefit the same by tendering their pro-rata share. One could try a lower price, but it doesn't affect the outcome very much. Under this plan Apple could repurchase 140 million shares or about 15% of the outstanding shares, leaving 805 million shares outstanding.",
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      "text": "Cash available for repurchase ($ billions) $84 Average repurchase price per share $600 Number of shares repurchased (millions) 140 % outstanding shares 15% Current shares outstanding (millions) 945 Less shares repurchased (140) Pro forma shares outstanding (millions) 805",
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      "text": "Large One-Time Share Repurchase",
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