Subject: Q1 IV calcs & buybacks
Repost due to spreadsheet goof.

FWIW, all per B share using Q1 2023 numbers.

Book value $231.95
Shareholder Equity + Float + 1/2 Deferred Taxes $318
5 Groves 15 PE 30% of float ($50B) deducted from cash $341

Correction:
Highest buyback price $317 (not 323)
1.47x trailing book of $215.73
1.37x forward book of $231.95

They bought a lot more in the $305-$311 range, average of 1.33x forward book.